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I reckon your right there Mickey!
I topped up earlier..struggled to get any for about half an hour or so.. blip with my brokers portal or short supply.🤷♂️..
Yeh !
Is the GOI obliged to publicly announce auction bid results? I think that in some West African oil & gas licence auctions, the bid results are not disclosed, they just announce the winner.
Auction scheduled for early May (around the 5th). Working assumption is that if it goes ahead, this effectively shuts down any 'amicable resolution' opportunities with the local gov't, and the Notice of Arbitration will be issued by PAT (via LCM) shortly afterwards. Arbitration value could be informed by the auction, but plenty of rough estimates knocking around on this board.
In other news, the share trades are a nice shade of blue this morning...
Hard to know. 1m is my guess, nothing before result of auction is my guess.
This data point gives GOI information on value of asset they can realise. If they want to talk you need to factor in indian bureaucracy so could be longer.
If we plan not to try and wait will be less
I’ve been watching this from the side lines for a while and decided to dip my toe in this morning as it looks interesting, any idea when we will find out when the arbitration figure is and the process starts
Gold
Gold immediately reversed yesterday’s swing high; momentum continues to the upside. If prices extend above $2400, this could turn into a runaway move, hitting $2500+ quickly and $3000 by August.
Time will tell. It looks interesting for sure.
" everyone has a plan until they get punched in the face". Iron mike on micro cap stock trading!
Thank you very much Gallmat for your informed response. I am sure everyone on this forum appreciates your input and lets hope we all get handsomely rewarded here, whether it takes a few months or a couple of years.
The settlement is still pending. It takes 1yr to 18m from final hearing to get a decision.
This is the key point. Even before you know the de ision the price of the stock increases alot.
If this stock has a claim for 500 to 800m gbp. There is no way if it is 1yr from getting a decision it can remain at 11m gbp.
I had a quick look at them on this site if GRX is them? I could not see any outcome or reference to a settlement and their current share price would indicate that no such settlement has taken place yet? Interested to know what our more researched and informed posters can add with regards to current situation with their legal case? Many thanks.
Nice list!
Without going back to check Allenby Capital used I think a mid point claim ($750 mill?) and with a re-look at West Africa came in with a 38p ( 10% value of claim) ie mk cap of £66.8 mil.
Have not been following Greenx, but believe they are not a gold mining companyand also did not have a Jorc compliant estimate required for gold miners unlike PAT? 7.5m ounces
GLA
So. Current MCap is £11m. Therefore, based on 6% of the claim.
£500m claim = £30m MCap
£600m claim = £36m MCap
£700m claim = £42m MCap
£800m claim = £48m MCap
£900m claim = £54m MCap
£1b claim = £60m MCap
Nothing is a given. The above is based on 6% of any claim.
That's what I was after ShearClass. Thanks.
I didn't know about the Prairie Mining bit.
"What happened when their claim figure was declared through an RNS?"
GreenX were trading as Prairie Mining when they released the £806m claim on 9th June 2021, shares closed on 8th June at 13p which valued the company at ~£30m based on 230m shares in issue. The day of the release shares traded up to 21p, valuing them at £48.3m / 6% of claim value. They have a similar setup to PAT with some early stage projects but the claim certainly underpinned their value (before signing their A$18m LFA with LCM, shares traded at 6p / £12m market cap).
PAT is currently valued at £12m, if they file a similar size claim to GRX then based on the above we should re-rate quite considerably. But that's simply my opinion & nothing else :)
Greatland was a discovery of similar size.
However lower grade and underground mining.
If i recall they need to go down 300 to 400m to get to the ore. Ours is under 200m and open pit.
Greatland went nuts and pulled back because i think people ignored the higher cost of deposit
Also look at GGP 2020 onwards..again nothing is a given.
Dyor..GL
You can look up the rns date and review.
It does not imply this stock will do the same, so i think you need to consider your trading plan
What happened with GreenX please? I haven't followed them but I understand from reading this BB that they went through a similar situation to what PAT is going to have What happened when their claim figure was declared through an RNS?
Thanks.
I should have said hold/buy/top up all to play for at today's sp!
I think next week we should hear something and I agree with Gall it should go up ( substantially imo).
Unless I needed the cash I would even think of selling until after the next rns.
I am still hopeful for an early settlement, but if not, a decent quantum is fine by me.
Hold for now !
I am hoping they make a simple comparison
. Claim of x vs market cap of y. The funder has win percentage of over 90%.
If they write some long winded and complicated RNS impact will be less
It will go up from here. How much and for how long is anyones guess.
Alot will depend on the RNS wording and the mood of the market.
We all know what we'd *like* to happen on NoA/ known compensation value, but what do you think will *realistically* happen?