Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Why is it?
It means that if we get our takeover shave a couple of pence off the price to reflect 20% more acquisition shares issued to CGP shareholders.
If you felt the shares were undervalued at 15p then you'd want them to pay cash.
I'll now be disappointed if we don't embark on a smallish regional programme anywhere in the coming weeks.
That's good, isn't it?
Yes just seen the RNS addicknt.
Which means we are keeping the cash to advance Cascabel, just as the company has said they would.
anticipated, we will not be paying away any cash to CGP shareholders. A wise decision.
'the company has already built stakes in an explorer in Ecuador...', which they will lose unless they pull their fingers out.
Absolutely Bogotá and guess which company and shareholders are and will be on the box seat :))
15 days novice
Also to restate something redknight1 previously stated. There was only one trade in 19 minutes and 48 seconds in a period just after 16:00. Unheard of if people (1) fear a further fall or (2) do not believe a bid is coming.
Chinese new year lasts virtually one month nitpicker got any other ideas ? Lolzzz
I think we should change focus from if a bid is coming soon or not. I reiterate a point I think theitalian made several weeks ago. The Chinese are shrewd business people. They tend to buy in at or near to the bottom. I topped up at 16.43p late this afternoon. This is around the price the Chinese paid. Bid or no bid, there appears far more upside than downside to the current sp. This should be investors and prospective investors focus.
So is Christmas
thanks highflyigman - now I understand - cheers
truth is - we'll all be the last to know what's really going on - just hope we're getting closer to the end of this painful saga
all the very best
BN.c
way to go Ayten...
Bm3121uk - just do yourself a favour and don't invest in Mather/DGR companies.
Your hatred for the guy is clearly personal.
We're talking about exploration juniors here. Dilution is part and parcel of the game we play. It certainly shouldn't come as any sort of surprise.
Slug even you are not that stupid go back and read my post it's exactly what I said.
You are agreeing with me and admitting you were wrong.
Again Ortherncopper I agree with you on the reducing IRR.
We do need some direction and hopefully will get it soon.
Enjoy the rest of the weekend.
Slug learn to read I was correct you were wrong twice.
However no point debating as you will be gone tomorrow.
For years after year, we have been told ‘we have first mover advantage’ or we have the largest tenement collection in unexplored Ecuador, that we were the envy of everyone wanting to take part in Ecuadors burgeoning mineral exploration…. Yet we couldn’t get anyone to join us in a JV of any of them.. after all this time.
‘If anything is even happening’
Well we certainly needed funds to progress Cascabel.
I’m just not sold on a royalty deal that immediately make any JV, if that’s what you believe will happen, less profitable, were the intelligent way forward.
I accept the First Franco deal, but the more that are done, the more we erode any IRR for Cascabel and essentially devalue the asset going forward.
How long is it since our board announced an intention to at least try to JV some of the regionals?
We have heard absolutely nothing of any progress on this issue for too long. Given we have had Zero investor communication, I can only assume our attempts came to nothing and we were never informed.
Our board’s communication have left us all unsure and just guessing about what is happening, if angry is even happening except the review … and if we are guessing, others in the markets are just guessing too, making us a difficult share to buy in to..
Good morning Ortherncopper I find your 11.32 post well informed and thoughtful.
I believe you are correct .
BHP and NCM thought Solgold were going to roll over on forward financing.
I don't see a bid for the reason you suggest but looking at it from a different angle.
Any bid must be large enough that Solgold, DGR and any of NM's other holdings (think Tenstar is still about) plus BHP and NCM would all sell.
I don't believe the deal with Osisko for 50 million solely for Cascabel is a mistake.
I believe it's key to Solgolds future which will be laid out in the strategic review to advance Cascabel.
After all advancing Cascabel requires finance and whatever is decided, well 50 million will help nicely.
We can be sure of only one thing.
If the plan as stated is to advance Cascabel and when have obtained 50 million to do so.
Then the one thing Solgold is not planning to do is sell it.
Morning… I think everyone will be happier when all this comes to a close.. maybe not overly happy with the final price…. Especially those with averages in the 20-30p range that have faithfully held for years… But happy it’s all finally come to some conclusion… if indeed there is any bid.
If there is a bid teased out by Maxit, I can’t see any opening bid being more than 100% premium to the share price on the day.. but let’s hope I’m wrong.
And with regards to BHP or NCM etc, I don’t for minute think they care for percentage returns on their investments in Solg.. they were taken as a foot in the door, in order to take the asset if they choose to… they either still want it, or they don’t… in their world, their investment in Solg is pennies… they will not be concerned about wanting an extra 10p on the eventual take out price, or what that price relates to their current average, if it’s not them taking it out.
On a separate note, I’ve always found the decision to do a royalty deal with Osisko, just before trying to sell or monetise the asset, very strange.. The idea of knowingly, slicing off a further percentage of future profitability before you try to sell it seems nonsensical…. But then our board have made lots of bad decisions handling this asset… I chalk that up as just another