Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Can now sell for 1.81. 2p close.
Just a shame Gobind didn't do more PR to stop this rot...anyway recovery on thank God
In for 10p+ and 6 bags from here. Awesome management.
Haven't had chance to get into the details of the accounts as yet but headlines for me are loads of cash in the bank, no debt, no director options awarded for the year, progressing with the 2b strategy, have identified targets and set a series of KPIs. Major shareholders continue to hold large amounts.
Can't buy a bean now.NT.🚀🚀🚀
Buying all I can at the lows as I know where this is going. North!
3-5p this week why not and agree in the 10p+ potential with 2 BILLION in assets!
Should exceed 8p easily. Massive disproportion between where the company is and the market value.
It's been a painful process, especially for those us from IPO days but today's summary very positive, for me anyway.
I am proud of our team for what has been accomplished in 2023. In particular, achieving an investment grade rating for our insurance companies is a significant step forward for the organisation and will play an important role as we accelerate our buy and build strategy........................I would say that they have a strategy that is beginning to come to fruition.
Going up...now 1.47 to buy
Back to 2-3p range for starters
Now we don't have the placing over our heads, we can.
Excellent news today.
I agree, and I know people have been wanting more comms, but going forward I'm expecting there'll be one or two big events and all quiet in-between.
I personally think they will reach their goal by acquisitions like the Guernsey based insurance company they acquired.It is the only way I see them doing it.So I would expect something is going to happen this year.
They do, but you said "still on course for two billion in assets in 2025" - which they didn't say, so either it's your opinion that they are on track or someone else's. I was wondering which?
In fact, the BoD's update on progress was "a small advance". Now if you ask me, I think either a) they won't hit the goal in time, and will manage that message later, or b) they'll use their strategy of acquisitions to make sudden, large advances to hit the goal. Certainly, organic growth won't be enough IMHO. I expect them to up their game in 2024 to be able to hit 2bn. The foundations seem to be there, so why not?
Interestingly, the YE2022 report says "Our stated goal (which we refer to as our 2B plan) is to be managing over $2bn of assets under management (AUM) by 2025" - which means hitting the goal before 2025 starts if you ask me. But if they achieved it in 2025 I'd let them off that linguistic ambiguity! :-)
In the RNS they state it is still their goal.
I haven’t read the annual report yet but from the RNS take us being debt free in these hard times and to have both vehicles credit rated to be a good thing…
While I'm not blown away, I'm not overly concerned either as the cash position is good, we repaid the short term loans, and we'll all appreciate the statement on future equity capital - though I want to read the Annual Report when it appears on the portal or ALGW website before coming to any final conclusions.
> still on course for two billion in assets in 2025
What do you base this statement on?
My thoughts too.
Debt free,over £7 million cash,still on course for two billion in assets in 2025.Also looking for acquisitions.Whats not to like.Other than more communication would be nice.
Owing to no M&A having occurred in the period, the figures will be interesting as they’ll purely reflect the efforts and capabilities of the management. I don’t envy the broker having to apply lipstick to this one…
Audited Full Year results due to be published tomorrow so we'll find out.
Also suspect they'll be an updated Broker Note from Allenby to give us more context/general updates.
I know communication hasn't been good over the years from this board but this is starting to take the biscuit. What is actually going on here if anything at all