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If Riverfort are going to be handpicking everything, perhaps Amanda should stand down and Nick as well. What�s the point in having them on the board if they are sucking money out of it as well
Still curious as to how many shares PRS own individually from their listed companies portfolio. But the lack of details in quarterly update is quite appalling....All we have seen in the first five months of PRS operations this year is massive dilution aka shareholder shafting. Just help PPG in achieving their corporate objectives, those 49 million shares that PRS hold could be the key to negate the bad investment performance of last five years...
and on the RNS announced today, PRS mentioned that this tie up with Riverfort capital is going to cut their listing cost due to utilization of their investment infrastructure, but wouldn't the 2% fee of the net asset value eat the admin cost of runnning the company and negate any savings that may been created with the tie up?....Just the PPG and ARCM investment alone would raise the market cap here by manifold. Mila Resources can run their listed company in less than �50k a year, what is stopping PRS to emulate that? Riverfort Capital seems like a leach trying to dilute the shit out of existing shareholders, as if one corporate leach wash not enough (Nick)......
I thought he was bad but didnt realise how bad He has even handed the job of stock picking over to others now I have seen enough and gone With Nick present the company is a joke and a costly one at that . good luck to the lt holders
And this is how long term shareholders are shafted - one placement at a time.....If they know that the current net asset value of the company is more than the current share price, then why raise the money at heavy discount to outside shareholders. Just give the whole placement allocation to existing shareholders before going outside. Shareholders shafting at its best..And why pay 2 and 20%, when the coming mining boom is going to raise all the resource stocks anyway.... Commonsense is not common at all. PRS could save cost by meeting all the CEOS of mining companies at mining conferences regularly held in London. The next one is in November at county hall, directly go the horsemouth rather than middlemen like riverfort capital.....You don't need middlemen like riverfort capital to find hidden gems in less than 500-800 resource stocks across LSE, ASX, NYSE and TSE. PRS investment in ARCM is doing well without the help from Riverfort capital, If the whole �6m is invested in ARCM, it would still give returns multiple of the current market cap and they don't need to pay the 2 and 20% performance fee. Shareholders shafting at its best...
Great that you can average down... again..copy&paste from 2014/2015/2016/2017, I pondered doing the average down path just yesterday when in my Halifax trading account but up popped a notice to say this company is now banned, Speaks volumes really. Best making your money back elsewhere. Says the Troll-in-chief... and Halifax lol
Coming our way, great if you wanna get involved now. Kick in the stones if you�ve been here too long. At least I�ve knocked my average down a good bit and the nice board will give me the opportunity to throw more money there way, excellent everything�s peachy
Sorry I should have said that 17p is more than Big Sofa are now.
I should have said capital reduction with ongoing costs, salaries etc. since NWOG stopped trading. There will be less in the pot now, but there is always the convertible loan to Big Sofa of �675,000 in Dec 16 with a forward settling date of 31/12/18. I think Big Sofa have the money set aside. If converted, I think the price is 17p, which is less than they are now but there will have been a bit of interest accrued.
I presume not related to a dilutive event so no dilution. Instead I see it as the need to issue a formal, paper certificate following completion of the BVI move, given that many (if not most) holders would have previously held in nominee accounts when the Company was London-listed and were left with nothing physical to show for it despite Eridge continuing to be an (unlisted) going concern with fair asset value on cancellation from AIM and presumably still is.
Eridge Capital (formerly New World Oil and Gas) has issued share certificates to its holders. It is based in British Virgin Islands, not sure if it is listed anywhere or how much dilution there may be with these new certificates They are on a 1 for 1 basis to previous NWOG holdings.
Junior companies in the natural resources sector can provide outstanding returns when they can access the capital required to liberate value. Lack of access to institutional investors at this end of the market constrains capital availability. Also, for institutional investors, it can be challenging to deploy equity capital to junior companies due to their size and stage of development. Paternoster can solve this challenge by providing an investment company for investors that can scale and offer credit-backed exposure to the junior sector. Paternoster is focused on filling this funding gap and, with more limited funding competition in this part of the market, opportunities to achieve attractive returns are available. Paternoster has developed a sophisticated understanding of the natural resources sector through its equity investing and is now evolving that strategy to reduce volatility and to generate income, in addition to capital growth. Paternoster will seek to secure superior downside protection compared to equity investing by focusing on investing in companies using convertible, mezzanine, senior debt, and royalty/long term income instruments. The principal focus will be on investments of US$3 million to 10 million on a syndicated basis. Cash interest, fees, trading profits and other income streams earned will form the basis of dividend distributions to shareholders. Whilst the current investment focus is on the natural resources sector this may be expanded to include additional growth sectors where the appropriate returns can be achieved Paternoster has recently entered into an agreement with RiverFort Global Capital Ltd ("RiverFort"), the specialist provider of financing to the natural resources sector, whereby Paternoster will work closely with and co-invest alongside RiverFort in a range of opportunities within the natural resources sector.
Thanks for your interest and input pernickety More than I can expect from the company I cannot understand the reluctance to give details to their shareholders / I suggest it shows arrogance, idleness and a lack of undestanding of what it means to properly communicate with pi s
It seems (unlike before) the company does not wish to disclose specific numbers in companies it has holdings in. This makes it very difficult for PI's to do any ongoing due diligence, and with being kept in the dark, some holdings will have probably have been sold. There may have been considerable changes but from past notes i had MXO at 8,600,000, PPG at 49,333,334, MTR at 14,200,000. Shumba was reduced as far as I am aware to 500,000 shares from 2.5 million which is would not be worth very much if they still had them. Bison, unlisted, was $US 280,000 in loan notes. Elephant oil, unlisted, bought when Matt Lofgran was a director, �300,000 was invested and I have a note of PRS holding being 1,185,770 shares but that was some time ago and may have changed. I do not hold much PRS these days as I like transparency and directors who will do more for their investors.
Can anyone confirm /or add to the following please to enable us to monitor asset values ppg 49 000 000 piri 8 333 333 cora 82457 i3e 171180 bison energy metal tiger mxo 8 400 000 arc minerals cradle arc shumba energy plmo eridge capital elephant oil i have emailed company again but not holding my breath for a reply
think your right Scotty , just googled it , hope their busy and more than just a website.
Was Elephant Oil not more to do with Matt Lofgran?
whats happened to Bison , Shumba Coal and Elephant Oil ? beginiining wonder about why we bought these investments in the first place and why we bought them
Well there you have it -an update Thats nicks input done for the next 3 months --bless him -- Not a lot of use if you wan to monitor company assets progress week to week . Give us numbers please ,tell us what you have sold ,. Why is everything so secretive with this company ? We know you have dropped soms cobblers Nick why not have the guts to admit it Lets clear the slate and then people might start to trust you. We seem to stagger from one bright new thing to the next but nothing comes of them .
Totally in agreement , whatever happened to Bison and Elephant Oil ? Thing is , there must be some value in PRS,s assets , and not long ago a few large investors came on scene , I'm hoping these investors came onboard because they wanted to see a decent on their investment . A wee update on our current investments would be a nice start.
I Emailed company more than a week ago asking when we could expect an update and where could I get a current portfolio to allow me to value company assets . No reply yet The website gives 7 holdings in portfolio saying they are the main holdings. Previously they have stated that the holding in Metal tiger had been reduced and now was nominal ??? What has happened to Shumba energy ,plmo,cora,and others . Have they been sold ? Surely the main idea of buying shares in an investment company is to monitor their investments and to see how the asset value is progressing compared with market cap With this company that is wishfull thinking PR is poor ,communication is poor. What are the big investors doing cant they see the Chairman is also POOR and needs replacing ???
This is brutally painful just now and no sense of urgency by anyone to make this a more attractive share to invest in. On paper it looks great, in reality it�s not being portrayed that way.
just been looking About as much use as a chocolate fireguard No holdings given ,half of holdings not shown Nice and shiney website but utterly useless like Nick PS yes I do hold again on the basis that surely it has to improve sometime ?????
We can all clearly see where this is heading now. With interest returns of 8 to 12% on these loans it makes perfect sense. With our running costs now at 200k we only need a few mill in these RiverFort deals to turn a profit not to mention the bonus of warrants. Very clever and let�s see how long it takes for people to catch on ;-)
Still waiting on the delivery 10 days late RNS