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Just sit back and watch this bad boy rerate all the way past 15p +.
I always believed in Gati
Troajan
“ so this is where you all are”
Shhhh!
so this is where you all are
https://www.proactiveinvestors.co.uk/companies/news/961008/pembridge-resources-says-minto-raised-c305mln-ahead-of-listingin-toronto-961008.html
zapsnap
“ Money raised at equivalent of 13.3p.
Share price is currently 6.5p
this will have to re-rate. the question is when?”
If Gati converts all his clns the final sp well be just under 10p, so 50% uplift from here, plus you can anticipate them “discovering “ a load more copper in the meantime.
I don’t care if it takes six months to a year, as I’m not getting 50% interest from my bank!
I believe that we will be ready to execute on the fourth stage of Pembridge development, which I outlined in 2019 when I took over the leadership of the company. This stage is the identification of new projects to invest in and grow our business."
Money raised at equivalent of 13.3p.
Share price is currently 6.5p
this will have to re-rate. the question is when?
6.46 / 492k
Pembridge short term financing
The capital raise and listing of Minto Metals on the TSXV were expected to be completed by the end of July 2021. As a result of conditions outside the control of Minto's management, the capital raise and listing have been delayed until now. Repayment of the CAD $4 million receivable by Pembridge from Minto is to commence after the capital raise and is to be repaid in 4 equal quarterly payments. Due to the delay in the capital raise, the first repayment is now expected in Q4 2021 instead of Q3 2021.
This has impacted the cash flow of Pembridge and, to ensure that the company has sufficient funds to meet all its ongoing obligations, Pembridge's Chairman and CEO, Gati Al-Jebouri, has provided an additional facility of up to £200,000 to cover any cash shortfall until the end of 2021. This facility has been approved by the Pembridge Board of Directors and entered into on 21 September 2021. The Facility carries interest at an annual rate of 14%, to be paid upon repayment, and an arrangement fee in the amount of 6% of the amounts drawn down.
Minto valuation
The pricing of CAD$ 2.60 per share applied in the capital raise implies a pre-money valuation of Minto Metals of CAD$ 156.6 million and post money CAD$ 187.1 million. At post-money valuation of Minto Metals, Pembridge's 11.1% share in Minto Metals is valued at CAD$ 20.8 million. This is approximately £11.8 million at current exchange rates, equal to £0.133 per undiluted Pembridge share based on the Company's issued share capital of 88,965,516 shares. If all existing options and the conversion rights of the recently issued convertible loan notes were exercised, the Company would have 122,220,856 issued shares.
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of Pembridge said:
"This capital raise by Minto Metals, resulting in investment by new and existing shareholders at a pre-money valuation of CAD$ 156.6 million, confirms the true value of our investment in Minto. This additional capital will enable Minto Metals to further increase production, to benefit from the resulting economies of scale as well as the current strong price of copper and to extend its life of mine with further exploration. The capital raise and listing of Minto Metals provides a transparent third party valuation of our investment. I trust that the market will now recognise the value of Pembridge's investment and reflect this in the Company's market valuation. We are proud to have been involved in re-starting the mine and pleased that it is now able to move into a new phase of development with the upcoming listing and new capital and look forward to seeing the value of our investment increase as Minto Metals delivers on its long term objectives. With the expected cash inflows from Minto Metals and higher valuation of our company, I believe that we will be ready to execute on the fourth stage of Pembridge development, which I outlined in 2019 when I took over the leadership of the company. This stage is the identification of new project
To be fair, I'm pretty sure that PERE would have already folded without Gati. The only reason that I have any holding at all is because of him. With some luck, he's going to pull a rabbit out of the hat and I'll add more. My own holding will stay small until some clarity appears.
Also, miners are being hammered at the moment. Even the Blue-chip ones are suffereing. It's therefore going to be interesting to see what happens with the IPO. Maybe a delay is the smartest thing.
I invest in cash cows :) DYOR.
@K3VMC:
Yeah, this was the reason that I sold my large holding months ago. I didn't 'get it'. There's stuff that Gati knows that I don't. Maybe it's innocent, maybe it's not, but I don't gamble on that type of thing. I don't know where this is going.
I added a new micro holding and will look to trade it. As I said a few times (nobody ever comments, because everybody knows that it's true), it is quite possible that Minto, if it ever goes to IPO, could shoot up, but PERE might not, because PERE will just be a tiny fund holding a single share, with a CEO that can reward himself whenever the shareholders (mostly, 'himself') approves it... This could easily become (might already be) a cow for the CEO to milk. I dont invest in cows.
This is why we don’t get anywhere with Gati.
“ The Agreement provides for a committed term loan in Pounds Sterling in an aggregate amount equal to £1,000,000 (''Facility A'') to be made immediately available to the Company for general working capital purposes. The Agreement further provides that the Company may request a further facility in the form of an uncommitted term loan in Pounds Sterling in an aggregate amount equal to £700,000 (''Facility B'') provided that the Lender will have full and absolute discretion over the granting of such request. The sum of the principal amount outstanding under Facility A and the principal amount outstanding of Facility B (together, the ''Convertible Loan'') is to be repaid in full, together with any accrued and unpaid interest, on the date falling two years after the date of the Convertible Loan Agreement, being 25 October 2021 (the ''Termination Date'') and carries interest at an annual rate of 8% of the Convertible Loan, to be paid in arrears on the last day of each month. The Company shall pay to the Lender an arrangement fee in the amount of 6% of the amounts drawn down under the Convertible Loan.”
PERE is Gati’s little play toy. It will undoubtedly find more copper and make more money, but you have an oligarch who has no checks and balances. Lend my money to my company? Why not? Why don’t I charge it 8%? Even better, why don’t I have an arrangement fee of £60k? Yes Gati, help yourself to that.
Sorry Gati. What did you have to arrange, exactly? Did you have to arrange to be in the same place as yourself, to sign the document?
Any idea what this ipo involves? No. I have no idea either. This is a CEO/Chairman, that has ZERO accountability. This is the guy who can’t bring himself to update the market properly, every quarter. We produced x concentrate, Sumitomo sent us y dollars. That’s it. That’s your update. How much ore, from where, what percentage copper in the ore, what gold credits, what silver credits?
NOTHING! I wouldn’t trust him as far as I could throw him. One person will benefit from this IPO and that’s Gati. Shareholders MAY benefit from the IPO, but that’s probably going to be accidental.
What? It was 1k shares in UT. The sells should tell you something.
Big jump into close guys - now at 6p. +9.59%. Something afoot. Minto IPO inbound!!! BOOOOOOOOOOOOOOM
Rower, what's your point?
Everybody has their own style. I have a diverse portfolio. I actively trade in lots of stocks across lots of sectors while you focus on 1 stock for 7+ years. That's fine. You have your reasons.
My policy is simple. I invest in stuff that I understand. If things change, I reconsider the investment and sometimes liquidate it. That happened with PERE. As with all stocks, I will occasionally jump back in if I see the risk/reward as attractive. I've done that with PERE. People are not oblidged to ask you for permission to trade...
Also, people are entitled to keep their private information private, for safety and peace of mind. Be a gent and don't break the rules of this site.
I recall reading this
https://twitter.com/CorsieRichard/status/1419620584669986818?t=HGRyT2qUS0PIF2ayPxNFcQ&s=19
I hold his comments in high regards, just a waiting game.
Unfortunately, I'm finding it very difficult to get any information about the listing, so as many here, a waiting game as said.
You've changed your tune FireAnt? Wonder if you'll get this post removed as well?
I'm not concerned about the IPO, even if it didn't go ahead. I invested here due to Minto, which (in my view) is an incredible asset. Minto, combined with Gati, given his huge holding. I've been scratching my head for months with this, never worked it out. Being also in some other small copper miners, I've seen first-hand how the market is currently pricing these companies and it's not inspiring. Even some of the blue-chip copper miners have been dropping or stagnating for months.