Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
To deliver attractive returns to shareholders principally in the form of capital growth, through investment in companies involved in the exploration, development and production of uranium to supply the nuclear power industry.
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How can one participate in purchasing shares for 37p? I guess some warrants issued long ago?
Yes the bull run looks like it could finally be on! Im not sure the Russian ban will happen though seems to be more chat that action. Either way I'm here till the U price is significantly higher than it currently is.
The offer is end of April, not March
something is happening. would suggest we are looking at bans and we are looking at governments turning more and more to nuclear too. uk government is going all pro, france more, japan and others so we are seeing an up tick in uranium prices, the 37 pence offer for more shares end of march is becoming more and more attractable, ratio 1:5 is better than nothing
If the ban happens this should rocket from here!
suggest this is the main reason for this next push on the sp and uranium overall. supply is getting tighter and the need to use more nuclear is increasing
Is this really a reward though. We will all get the same options and I'd imagine everyone will be taking the option. Therefore the shares will be diluted for everyone at the same rate. I'd imagine the share price drops by the same amount on that day. Or am I missing something?
I will be taking my options by the way :-) Just not sure how good a deal this will be. Sounds too good to be true.
Well I saw it as a kind of long-term shareholder reward. So each April, you are eligible for 1 share for every 5 held based on the price the previous April.
I can see from the RNS that subscription rights are on 30th April ever year.
If anyone knows how this process works I would appreciate a brief explanation? Thanks.
Read RNS 5th May. Should be a good day today…
How can you buy 37p shares? From previous warrants? I have held here for over a year, maybe two and don't have any warrants.
Uranium spot price going up in US. Bought more, will buy 37p shares in April
@53.5p this-morning (crosses fingers).
i think the option is at 37 pence, formalised this month so i wont buy on this dip i take the options instead
Be at least 10% up today, Germany saying their looking at keeping nuclear going longer
you cant buy any at this price, cant even get 1k. if just put an order in to buy some at 50p if anyone is selling??? very short supply
The proposal to create a Subscription Right was approved by Shareholders on 26 April 2021. The first Subscription Right date is on 1 May 2022 and the Subscription Price is 37.84p for each new Share subscribed for. The Subscription period has now begun as the existing shares carry the right to subscribe (on the basis of 1 New Share for every 5 Shares held). We will write to all Shareholders in March 2022 to advise of the process to exercise their Subscription Rights.
Subscription date is 30th April, then annually on that date
Hi, I hold my shares with Barclays, and have been holding since at least April 2021 - how do I claim the 37.5p warrants?
Thank you Holtender you villain:) kind of you to respond. I did think I was too late. I like the investment case anyway even if I am anti nuclear temperamental. Up 3.88% today so perhaps my buy was well timed
No, you needed to be a holder back in May time. Lots of volatility here but just sit back and relax, unbelievable uranium ride coming over the next couple of years
Just bought a maiden purchase today and will punt these in 2022. Do I get to subscribe for the 37.5p warrants?
I like the story here so I mined my pockets to buy in.
A pity there's nothing in the RNS about why the new appointment was necessary, or what it's costing.
The premium is about 20%. This can be justified: there are warrants vesting in May next year to all holders at 0.3784. The ratio is 1 warrant for every 5 held. The current fully diluted NAV is 0.58, (undiluted about 0.62) so there is some free money for all holders (except it is not free, because of the 20% premium). However, this is not enough to justify the premium. There is also the leverage. The portfolio is currently 111% invested. Nice to have in a bull market. Finally, a justification for the premium is the focus on small cap uranium firms, I.e. not CCJ.
However, there are negatives too. The fees are high: 1.38 per cent plus a 2% performance fee over an 8% hurdle. Liquidity is terrible and the bid/offer spread is exorbitant. Finally, there is an over concentration in NXE. Great to not be over dependent on CJJ, and have an emphasis on smaller firms, but there is still 18% in NXE, which is one of the larger blue chip producers with out the zip of the small cap stocks. Recently GCL has been buying CCJ too, and now has a 6% position. So the small cap bias argument does not really stand up.
Finally, the premium could be justified for the expertise of the teams, and the difficulty for UK domestic investors to access Canadian and Aussie stocks.
GCL is tapping the market and issuing shares at a premium to try and damp down some of the froth in this stock
Net Net, I am offering out some of my shares on peaks and gradually swapping into URNM. I will take the FX risk. I remain mega bullish on the thesis, but I think it is time to move on. The premium is too high.
Does anybody have a model giving a precise analysis of the embedded warrants vesting in May next year - it would be nice to know exactly how much of the premium can be justified by the warrants.
Tried to buy these today but HL kept saying ' Can't obtain price ' became available at 4pm!