Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Very Bullish Costs were spiralling out of control so well done Mr Foley I actually feel reasonably confident in my holding
Be interesting to know what the liquidity of Ptcm stock is For instance if I wanted to buy £50 k under 4p could I get them on the open market?
Congratulations gotrader, you deserve to make money here for all the good work you do here.
https://www.prweek.com/article/1463218/porta-ceo-steffan-williams-departs-firm-merges-redleaf-newgate Good article with comments from John Foley. Bring on Monday.
Overall a great day. Annoyed I did not top up at 2p. I thought that was a crazy price. Bring on some director buys on Monday. That could easily shift price. It may also be the reason for the big rise today with big orders going in. 3p was far from impossible here. 61% rise is fantastic. Same again Monday please!
Great potential I would say. Looking at level 2 people are happy to pay 3.40. Plenty of blue.
Hopefully after years of pain a good day today. Hopefully this will be the start of a big push to double figures. Any thoughts on this??
Wow up 44%. Happy to state the obvious on this occasion.
Up 26%. Director buys less likely now as Emma Kane will get millions of shares from next put call. Maybe other directors could buy in. 3p is not impossible here. Hopefully results will mention cost savings.
My guess is UK Newgate has 50+. Redleaf maybe 10-20. Note that 100 figure won't include cap, publicasity or Newgate operation abroad. So they may well have over 200 staff still. They closed Summit. Overall 1-2m cost saving would add value here. Maybe move to a smaller HQ? See what happens.
If the results are to be Monday I presume we are going to get a plan of attack from the new CEOs as well as an outlook statement. I presume integration of Redleaf and Newgate means reducing costs and presumably head count. They say the combined Newgate/Redleaf will have 100 employees. IIRC the whole group had 280 or so at last count. Anyone know hoe many are at Newgate/Redleaf presently/
The new chairman (who paid �170k at 3.5p in hard cash as recently as January) has a knack of sorting out AIM companies, dumping poor performing, expensive staff and giving motivation/direction to others - it would be no surprise to see this back at 10p in 18 months
I do believe costs were spiralling out of control So the sackings are good news Just hope it wasn’t announced just to cover poor results albeit we know most of what is to be announced
So Steffan is sacked and no customary thanks to him either. Don't suppose it bodes well for the results on Monday but has to be a good move IMV. Hopefully they will get costs under control. The SP moves this morning will be interesting.
So Steffan out the door. Bryan Tyson and Emma Kane taking over. Emma Kane holds no shares in Porta. Which means those 9m trades before Christmas were likely her. Steffan was being paid 300k. So a costly wage off the staff bill. What to make of all this? In some ways this makes sense as the Australian business has grown amazingly here and the UK business has been cut back a lot this year with a lot of senior staff and admin leaving. Who is pulling the strings now? So results on Monday.
Nearly 4m shares to 2 PPS staff. Looks like David Telling has also left. He was a more recent senior hire. They really have been cutting back on the UK staff. 5-6+ senior hires gone. 10 Newgate non senior staff have left. Who knows what is really going on. I do hope this is cost cutting rather than large amount of staff leaving over the year. It would make some sense to reduce costs in the UK as they are still posting losses. See what they announce in the results.
A little bit of nervousness over past few days and that is understandable given the lateness of results A late announcement can work both ways History of PTCM would suggest this is normally bad I have a hunch that this time it may be mediocre Which would cause a small spike in SP Just my thoughts DYOR
No and yes! Wait and see what next week brings.
do you not get bored stating the obvious and making it sound like there`s value for any prospective investor here ?. do you hold any stock ?
Maybe a director after the results? It's clear the people in background are 100% happy to mop up any sold stock here.Could also be Morton? I assumed results in late April means 27th-30th. The seller is clearly not done here. I think the timing of these trades is 100% planned. Unclear who it might be or what stock they have left. I always assumed Redleaf or Aus holders.Could be a larger holder? I think Redleaf would just do one big trade. Hard to knwo what is going on.
Seems like someone has a buy order in place Any volume over 100k buy tpto 2.75p
The blueprint for PTCM is; 1. Produce a profit 2. Takeover other similar companies using profits and equity 3. Strip out excess costs 4. Increase profits 5. Repeat The question is what the synergy is with SEC and how much cost saving a merger could generate. The relative value of the two companies would be a moot point, though PTCM would be getting back 80m or so of their own shares back.
Is a full merger on the cards? Porta is still hungry for cash and issuing shares. Porta has a value of 11.65m based on the share price. With debts of 7-8m. Revenue circa 40m est. They still don't own all of Aus, HK, Singapore or Redleaf. Those Asian businesses made 1.5m profit in H1. SEC has revenue of 20m euros. They made 400k profit in Euros in H1. So maybe 800-1m Euro profit on year? Like Porta they too own varying percentages of other companies. SEC are currently looking to raise 4m Euros more here. Not sure when they plan to call this cash in or what it is for. A 50/50 merger would not give good value to Porta. At present Porta is valued less than Sec but has a revenue twice that of SEC. Albeit SEC is making money. So Porta would look to get at least 3-4p+ a share? What is the true value given sellers that still appear to be dumping shares here. SEC is 75% owned by one shareholder. Then you have the Morton issue. Would he really want his 7.5m debt tied up in a larger company? I suspect he would rather get out of Porta than into a new company. I really doubt he will want to trim his loan costs again to make any deal work. Or lose money on shares based on a low SP. Ideally if Porta enters a merger it should be with a company that can pay off the debt and buy back more of the Asian businesses. Porta needs cash more than it does a merger. Albeit a merger would help slash admin costs. Porta paid out 565k in H1 to non controlling interests. This could be well over 1M for full year. That a million not going to the bottom line here for shareholders. I am not convinced SEC has the funds to solve Porta's issues. Unless it's owner has money to inject?How would they make a merger work and fair for Porta? Would funds be willing to accept shares for equity to pay off debt to make this happen? At 2-3p I would be annoyed. Porta could really use a cash injection of 10-12m to pay off debt and buy out Aus Business.Trouble is the SP makes this prohibitive in terms of value as the firm is deemed to be worth only 11-12m,
Interesting comment but can you go into more detail? Firstly could the debt be taken out?