Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
More good news with the start of drilling. Had we still been in Africa, I expect there would have been numerous delays.
On the close, the spread is now 1p - let me type that again , I can't quite believe it - 1p: bid 3.3, ask: 4.3. I don't think I've seen anything so wide since HMS Queen Elizabeth left harbour. Probably puts off potential new small PIs but if another big PI or II comes on board, won't the MMs have to start closing their shorts and that would help push up the price faster? I'm not really au fait with shorting and its ramifications.
With my paltry 51k shares, I'm feeling like the down-at-heel neighbour who drives a 20 year old Skoda! Still, the continuing II buys are making me feel more comfortable. Let's not forget this is still high risk, though. The SOA has to be approved - it seems madness to me if it were to be voted down but it's not impossible.
My belief is that it will be approved, AMGO 2.0 will be realised and this will multi-bag over the next 2-3 years. That's why I am sitting tight and not selling any of my holding.
To any prospective investors reading this, please DYOR and never risk investing more than you can afford to lose - money management is key to investing success as well as assessing risk.
GLA investors, big and small!!!
Have tried reading this but as I'm neither a scientist nor a lawyer, it's heavy going. What does seem apparent is that Samsung has stitched together a set of scientific background to disprove our patent. This document tears this 'logic' to bits. This paragraph summarises it nicely, though:
"Because Petitioner’s (ie Samsung) grounds fail to disclose critical claim elements, and there
is no reason to combine Banin with Herron or Treadway, Zaban with Farneth/Yu or
Lucey with Ahrenkiel/Treadway other than Petitioner’s improper hindsight effort to
assemble portions of divergent references to create something that might
approximate the invention of the ’365 patent, there is no reasonable likelihood of
success that Petitioner will prove any of the challenged claims are unpatentable, and
the Board should thus deny institution. "
Sock it to 'em!!!
It seems yet more evidence of a likely outcome in our favour. It's more a question of when Samsung will settle and for how much. I have no idea to what extent the judge/court can take previous misbehaviour into consideration but if it does, an injunction seems less unlikely.
I'm not far off from moving out of loss now and am certainly not selling any of my holding.
Nebnalon, mmm, not sure. Non Standard Finance (NSF), in the same sector, is also up about 20% and they made a broadly positive trading update yesterday, though no TR1 type updates to indicate IIs are buying. NSF has also had to put aside 16m for guarantor loans. Maybe the whole sector is getting a more positive outlook now that some normality should be returning to life, plus investors here hoping the forthcoming SOA will be approved by customers and then the court. I can't imagine it being voted down, as then borrowers will get nothing and AMGO presumably goes bust.
Hi Batey, though the last 2 days have been kind, look at the intraday deals and the short term and you'll realise this is medium to high volatility. I hold c51K shares with an average of 8.3p and have moved from 20% loss to 15% profit in about a week!! By most standards I'm a very small investor but hold above my average in this share. Why? I think that the new BOD is well qualified to sail AMGO through these stormy waters. I also believe the SOA will be approved - I can't believe borrowers/CMCs will vote it down as the result is likely to be the end of Amigo. Once approved , they will be able to launch Amigo 2.0 with new products into a market that desperately needs the liquidity. For this reason, I am not selling any shares as my expectation is a large increase in SP over the next few months. However, please understand that whatever people say, this is currently a high risk share so please don't invest any more that you can afford to lose. Best of luck.
Mmm, almost 390k purchased and no sells so far today, yet no movement in the share price? On the plus side, if you're thinking of topping up, now may be the time. I'm too heavily in already , though tempted.
I didn't know what an uncrossing trade was but saw this on chat for another share on lse. Hope it helps.. the "numbers are the outcome of the closing SETS auction and it happens every day with the trade published usually at 16:35. It's a UT trade described as "At the closing of the auction the bids/offers are frozen and an attempt is made to match as many shares to be sold against shares to be bought - the result of this is what is known as the 'Uncrossing Trade' (UT)" It's not manipulation, nor is it a sell as such." So, just a book-matching exercise, that could be for a tiny or massive number of shares.
Can't help feeling Tesla was and is too much smoke and mirrors. Batteries and selling carbon credits is where they seem to make money, though the cars are obviously front and centre. Still, I wish I'd joined that bandwagon for the 16X plus rise in less than 2 years - oh well. Would be nice if NANO could do that with the potential from Samsung losing the case!
Aha, a new RNS showing Pure Ice has been at it again. A bit of a nibble taking the holding to over 15%. Was this an earlier buy only notified now or is this mystery person still slowly accumulating?
More reassuring news. Ongoing air geo-survey and environmental approval granted for the drilling. Also, the broader diameter of the drills should ensure more accurate results and estimates. It was a nice, factual RNS with no frills. Not sure the SP will do much until drilling results come in along with the geo-survey mapping etc. but this is progress and positive.
Looking forward to more of this in a few weeks' time.
Nice joke Mousekewitz - you are right. The mantra was always 'the banks are too big to fail', so the government had to bail them out, especially as they all suffered simultaneously. Unfortunately, AMGO is small fry in comparison and could go to the wall. However, borrowers will get nothing if this happens and still have to repay their debts. They probably don't know this though, so do we ironically rely on CMCs to persuade them to accept the SOA? Also, the FCA will be left with egg on its face. How can it allow past claimants to be compensated but not those waiting for theirs to be processed - what sort of fairness does that show? They will be accused of doing too little, too late, when a workable resolution was on the table.
We have to hope the BOD and FCA are still talking constructively, despite the negative vibes of the RNS.
GLA.
The old saying has it 'buy the rumour, sell the news'. But there doesn't seem to be either here. The only upcoming event we know for sure is the Markman hearing. Could the rise just be due to more investors getting on board before that and in expectation of the SP rising from now on, as we get closer to that date??
I think so. BOO isn't buying any of the stores or even the remaining stock, so it will be a purely online operation.
I am sad to see Debenhams go. In the small city where I live, it was the biggest shop and right in the centre. I always liked shopping there: generally decent quality, nice staff and fairly priced. The cafe was good, too!! It got ever-quieter as the years passed so it's demise is no surprise to any of us. Now it's all boarded up and very sorry for all the staff who lost their jobs.
For BOO, it seems a good choice to diversify and grow as a less specific brand instead of fashion only. I think it will take time and growth won't be like what we've seen in the past 4 years but I believe the share price will go up in the medium term.
I was surprised to see the SP go up on the news; I usually expect it to go down when there's an acquisition. It does look as if the short term technical indicators suggest a downwards move but I am staying put.
GLA.
Agree Jimmyg56. The risk has increased in the sense that FCA approval has not been forthcoming but they haven't completed their assessment, either. As other posters have said, Amigo is pushing the envelope and rightly so. It seems the FCA is dragging its heels or is unhappy with the detailed terms we can't see and as cogitating.
The question is, would it let Amigo collapse, potentially leaving customers currently expecting some compensation with nothing.?It would also result in a major source of funds ceasing to be available to those who need credit in a post-COVID UK where unemployment is likely to be above average for quite some time and poverty will become more embedded.
On balance, I feel the FCA will approve but new lending won't happen for some months yet and I will continue to hold, looking for gains towards the end of 2021 or even beyond.
It's just become a slightly higher high-risk trade!
I haven't been on this board many months but always appreciated Nige_W's positive and well-thought out posts. Very sad news and condolences. I hope that the Nano vs Samsung case turns out well in his memory and for his family, too.
I made a little top-up today of 5000 shares. You may be right about a rise from the end of March but I wanted a little more in advance of the Markman hearing, as that may spark interest. If potential investors wait until after and Samsung decide on a pre-jury trial settlement, they might miss out completely. I know I'm assuming 2 things here:
1 - the Markman suggests NANO has a valid case
and
2 - Samsung will settle without a trial (which seems very unlikely, considering their history).
Likewise, I decided to sell to realise profits, rather than wait for the possibility of shareholders not agreeing, the deal failing , followed by a big drop. Couldn't get a quote for 8000 shares to start with but sold within a few minutes at 34.35p, for an average profit of 22% since Sept. Best of luck to remaining holders - I hope for you that an improved offer comes. GLA
It used to be Richland Resources prior to the RTO, with a ticker of RLD. (And before 2011, it was Tanzanite One.)
Rosetinted, no I don't think you're missing anything. Current holders like us are mainly enthusiasts looking forward but we may have to wait for positive RNS (or at least ones indicating progress) before IIs decide we are worth the risk. I would imagine there must be numerous companies similar to ours they can invest in (?). Once we have news it may encourage day traders and short-termers and that could bring volatility but I am guessing this will be weeks away at the earliest. If the MMs are still short, that may help a bit of upward pressure. As you say, the current spread won't encourage new investors. Since you mentioned the team's previous success with Aquarius, I confess to having daydreamed about this share - that's what lockdown does to me!!!