Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Given the criminal complaints lodged against Rolls Royce and BAE in India, I suspect this has more to do with Modi seeking revenge against Britain (and British companies) for the BBC documentary on his conduct in the 2002 riots and Muslim community.
It’s all a bit strange given the massive subsidy we are about to give Tata for the battery plant and with a prime minister of Indian heritage, you’d expect a better relationship with India.
There is no chance of a PE bid for Pfc and is not compatible to wood group.
One is loss making, has high debt, little or no assets and a few large high risk projects
the other is breakeven, small debt, assets to strip and lots and lots of low risk (low margin) projects
Rr. is heading back down £1.20 - £1.30
Recession is coming in the autumn … rr doesn’t have the money to fund SMR capex… fx hedging still to be unwound
But the medium term future is bright (~18 months) … debt reduction, great CEO, restructuring announcement … burning platform extinguished!!
No sign of Dogger69 after his/her 6 x posts before 8am this morning predicting ‘at least a 10% drop’ in sp today.
What we got was a 3%+ rise.
His track record of recent predictions for Pfc is not looking too good.
My big worry is that PFC will get bought out before the fruits of this turnaround are reflected in the share price.
How many institutions would sell out at the level of the last Rights Issue (£1.15) and move on, a near 100% premium on the current SP?
It will be 18 months/ 2 years before the new profits & cash flows really impact the bottom line (assuming the new contracts have good margins) and the debt levels come down.
It could be easily gobbled up by a big US player and we’d only get out with crumbs. Got to be lots of companies/PE running the slide rule over PFC now.
All outside our control of course with Asfari/Azvalor/Schroders calling the shots … but hopefully they’ll play the longer game and take us on the journey.
This RNS could simply be a clearing of the decks by the new CEO. These additional costs seem to be exceptional and one off resulting mainly from the pandemic and subsequent inflation.
The markets may be relieved to now know the actual figures and the sp may even rise by the end of the day?
Why has Barclays fallen way more than Lloyds & NatWest?
Are there any ex city ppl on this board? Is the fall to do with Barc having way more exposure to CS counter-party risk because of their Investment Bank side? If the Swiss central bank steps in, would barc have to take a big ‘mark to market’ adjustment on their counter-party stuff?
Can’t get my head around it’s fallen way more than the banks.
Any views appreciated
Prime
‘ To put some perspective on SVB's standing in banking they are/were ranked something like 2500th in the world (I think) with a cap of $16 billion and funded predominantly by venture capital.’
A bit misleading … they were the 16th biggest bank in the US and not 17 months ago had a cap of $43B … so a lot more that Barclays.
Hi Nettles
In contrast to your local MP’s response here is an article this morning about the reality on the ground. Looks like Great British Nuclear hasn’t even been set up yet.
https://apple.news/A5aUoChtDTpGErRV_qsCHlQ
Hard to see how SMR can move forward if the Gov haven’t even launched the organisation that is going to bring forward these new nuclear projects.
Your MP’s letter is well crafted … makes lots of positive statements but all sufficiently vague so that they can never be held to any timescale or commitment.
Australian ex defence minister warns not to buy British subs because RR doesn’t have the production capacity
https://apple.news/A3kHqIR7rQXGo5udoQIi2sA