Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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I agree Cygnus, it’s the underestimation in the first place of potential asset credibility toward a value that is in question.
Do wonder where all the earlier optimism has gone, perhaps a perception of underachieving.
I don’t see that at all, Bushranger exploration has exceeded initial expectations.
The willingness to become involved, and stay involved, of Kjeld Thygesen as a non-executive director of XTR is heartening.
Not a man (I'm guessing) who would want to be part of any kind of pump to refinance, promise and not deliver, basketcase AIM explorer.
"About Kjeld Thygesen
Mr Thygesen joins the Board with a wealth of natural resource industry experience having worked as an executive director of N M Rothschild International Asset Management and subsequently, as the investment manager to several natural resource funds. Between 2002 and 2010 he served as a director of Ivanhoe Mines Ltd, which discovered and developed the Oyu Tolgoi mine in the South Gobi Desert of Mongolia, which was acquired by Rio Tinto. Mr Thygesen’s particular focus is in financing, valuation and corporate development."
howezap, whatever the remuneration procedure applied will not change the underlying value of the asset, but, there is clearly a good incentive for Kjeld to get the maximum return possible.
Then he has gone up in my estimation. I lived in DXB once upon a time. Happily repatriated decades ago.
>> he lives in Dubai
I think Colin lives in Portugal. He has Dubai residency for tax purposes, but you only have to visit every six months to retain that status.
Was going to look into and post something along these lines, but on recollection, Bauhouse previous post from 18 Jul 2022 08:03 serves the point. It is an objective view, so worth a repost in light of some of the very modest estimates we are seeing
>>>Given that Kjeld and team are on zero pay from 20Aug21 and they are not allowed to buy Xtr shares or be awarded share options- their pay is 1% of the sale value of BR.??Do you honestly think Kjeld and team will get out of bed for £1.8m which is 1% of 180m<<
I read elsewhere that it is Colin Bird's birthday tomorrow. Fingers crossed he gets everything he is wishing for (with love from Manica, Bushranger, et al) and tells us all about it.
It has occurred to me that the reason we seem to get RNSs issued on a Thursday is that he lives in Dubai and Friday is definitely a non-working day, better suited to brunch at the beach club than fielding PR calls etc.
"PR ?!!? You must be joking" I hear you cry.
Feel like we are in a holding pattern awaiting the news. The wait has drained my excitement somewhat and need to calculate how much this might be worth is less of a buzz,... sorry ...... as the months have gone on its obvious how much assumption has to go into any numbers spouted so I'm just going to sit on my hands at the moment and wait for real news.
I noted that in a recent RNS it was stated that the Bushranger news would be by end of year, so don't be surprised if its another 6 to 7 weeks until that comes..... Will be most pleased if it comes earlier.
GLA
If negotiations are going on in the background, which most of us hope is the case, then I’m not hopeful of JORC/ MRE figures being released until after AA decide formally whether to make an offer or withdraw. So, personally, I’ll try not to get too worked up by nothing coming on a RNS on this for another 4-6 weeks. That said, a RNS on the Q3 gold production, soon, would be very welcome - as it (hopefully) would show FB on the path to full production in a matter of weeks, now. If that were to be the case, then we could see a reasonable increase in SP whilst we wait for the Bushranger RNS. And that would steady my nerves!
12p + 3p is pretty close to my estimation which is 15p buyout + 2/3p residual share price.
Tbh none of us has a clue and its all guessing. Would surprise me but not amaze me if the buy-out was as low as 10p or as high as 25p.
It's CB's 79th birthday tomorrow, so he may want to celebrate it with a 7am RNS confirming 2mt :)
Over to you CB !
(If Carlsberg did 79th Birthdays celebrations,,,,,)
15p, comprised of 12p buy-out and 3p residual share price. That’s my pessimistic view to counter Colin’s constant over exuberance.
wtf........£1.53 based on greed !!! happy days
The way I estimate the possible special dividend is to 'guess' the potential Cu content of BR, 'guess' a $ figure for Cu/T (which is difficult because one has to guess how far forward AA & CB are looking) then 'guess' what % figure would be used for the value of the Cu in the ground. I have heard estimates for this from 1% to 4% and this figure incorporates the jurisdiction the resource is in, the various standards of JORC achieved, the strip ratio, the local facilities (power, access, local available manpower) and a bunch of other things I can't imagine.
As you may have guessed (there's that word again), there's a tad's worth of guessing going on. Even so, I find it difficult to see this coming in at less than 20p unless it really has been sugar coated. But then, no matter how you look at it, it is huge. There are at least 2 porphyries and probably more (possibly around half a dozen if survey anomalies that have been hinted at are indeed due to metalisation). So, to put an edge of caution on my estimate I will predict a special dividend (not sp) of 18p.
Anything above the 0.08p (x200 = 16p) I paid back in mid 2016 will be acceptable :-)
50p. LTH and have been steadily buying (alas) over last 18 months. one day the tide will turn and / or the ship will come in.
$1 billion finally agreed by AA after Colin had shown some great negotiating prowess, finally offering 100% of the project, all of the other licences and use of his office swivel chair.
LOL I was sitting at my desk bored.. any higher than 20p?
Has competitive bidding started already?
20p sp
12.25P
F100
Thanks folks. Sort of what I was thinking but nice to have some reaffirmation.
The added benefit to this arrangement is, as indicated Mardel: there will not be a mad panic to offload shares at an elevated price. Also, we will be left with shares in a mining major and XTR just before what appears to be the start of a metals super cycle. Now we just need RC & Ascot to deliver....
Is likely to be a cash dividend payment or part divi part new shares of the acquiring company. Paid direct into any accounts that shares are held.
Holders would retain all existing Xtract shares after.
Seems to be the most popular opinion
To then take profits, once proceeds are withdrawn from trading account/s and transferred to your linked current account you will then be liable for capital gains tax if shares are held outside of an ISA. SIPPS have withdrawal thresholds where tax then becomes liable
Just wondering what will happen with our shares and how we will take our profits once the agreement to sell BR is in place. I'd imagine that we'd be paid a cash sum for each share held, rather than triggering a mad selling panic to benefit from an increased share-price from the sale of BR. Can anyone shed any light on this?
"If the JORCs for both Racecourse and Ascot come in around the 1.5mt mark after phases 1 & 2, then that is nowhere near a 'gimme' in my book and I will definitely be left feeling misled"
Tbh 1.5mt is probably circa 15p buy-out + 2p min for FB =17p sp ??
If offered 17p now I would take it.
Maybe my expectation of CB have been beaten down over the years, but I would not be surprised at 1.5mt for RC and Ascot and feel that would be in the parameters of the "CB factor"
I wouldn't feel pleased, surprised or annoyed at 1.5mt. Any annoyance I did have would be eased with a £2.5M payout (not profit I should say). Mere bagatelle compared to some declared LTH holdings a few years ago!