Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
IG has, at last, updated the name to Lexington Gold Ltd/LEX.
But who are Pure Ice? Mr Google returns a delisted company, a clothing retailer and a few ice suppliers in Scotland....???
Thanks for the link. Have just listened to this and the main points I picked up were (as a layman!), in reply to the question about what is planned over the next 12-18 months:
1. Undertaking helicopter and magnetic surveys (already started or imminent) and using historical data to create a 3D model from which drilling plans can be made.
2. Initial diamond drilling to confirm historical drilling results - to start ASAP.
3. Expansion project which will use a 'reverse circulation' drilling technique, which is cheaper than diamond drilling and provides larger sample sizes and that, in turn, should provide more accurate estimates of the reserves and avoid the nugget effect, which can exaggerate the quality.
It all sounds a positive start, but I have to remind myself these are only prospects, albeit ones with a good history and with modern techniques give the possibility of greater extraction than in the past. (As I've said before, I'm stuck in a big paper loss from 2009, so I am in this for the long haul - most other posters seem to have got in a 'sensible' prices.)
Mahmas01, yes, that's my understanding of how it will work. If you don't know already, you should also check that your broker allows your account to hold US shares. If they do, you may also need to complete a US W8-BEN form, which certifies you are both a foreign person (ie non-US citizen) and that you are the beneficial owner of the shares. You only need to do this once for all US shares and I think the form is valid for about 3 years, when you need to complete another. My broker lets me do this online.
If your broker doesn't allow US shares, I think you may have to cash in before the takeover, but other posters may be know better than me! Good luck.
I was late into this share, having bought on Guy Fawkes night but thought it had good prospects. The takeover offer was a surprise and though another bid may come, I decided to sell my small holding of 500 shares to lock in a nice 14% profit now.
TTWO US shares have a PE ratio of 43 - higher than CDM 29 ish and, like CDM, don't currently pay a divi. A recent Motley Fool article compared TTWO with ATVI and suggested the former may be the better choice. Maybe absorbing CDM will help TTWO grow, so best of luck to all remaining holders.
The gold price has declined from over $2k in August to around $1790 now and charts show some gold funds moved below the 50 day moving average near the end of Sept. I suspect a combination of profit-taking and positive covid vaccine news has caused this but am not worried about this share. I still think the medium - and long - term trend in gold will be upwards and the scars on the major economies from lockdowns will take years to sort out.
We also still have the elephant in the room of massive fiat currency printing and that means gold will be thought of as a safe haven. Many gold miners have costs of production far below the current gold price and provided demand holds up, should have a very solid future.
If and when we find deposits of the right quality and are extractable at reasonable cost, presumably that will be the first big leg up for the SP. In the meantime, patience, patience, patience...
GLA
Thaw, I agree. If we were to look at today's headlines in isolation, you'd think Amigo was on the point of going under - this headline is in the news section of this very site: 'Amigo Sinks To Loss On Tumbling Loan Book As It Tussles With UK FCA'. I think the majority invested here are confident the current situation is under control and being well-managed and we appear to have enough resources to continue.
With unemployment predicted to get worse, the potential AMGO market should be larger, especially if new products are launched. I am in for the medium term, at least, as IMHO the shares will slowly rise to a multiple of current levels, which will mean holders who got in at higher prices will also do well. I was lucky enough to average 8.6p but am a small holder with about 40k shares.
GLA.
Hi Mark, if you mean the price immediately before suspension, the price is effectively the same. On my broker, the last price was showing as 0.32p. As part of the changes from today there's been a 10:1 share consolidation. I had about 1m shares, which are now about 100k following this consolidation. At the same time, the price was multiplied by 10 to a notional 3.2p, so the value of any shares you hold should be unchanged (barring any rounding down of shares). My broker, IG, has currently got it all wrong on my RLD holdings but this has happened to me before on a different share and can take a couple of days to sort out.
Maybe I'm being pessimistic but I think the best we'll get from the results is a sense of clearing the decks. Now there is a unified BoD which looks as if it will be carefully be dotting the i's and crossing the t's with the FCA, there might be some upward movement in the SP but nothing major until they announce re-starting lending. I'll gladly be wrong, though!
GLA
In IG, it is still under RLD, which other posters suggest will last a couple of weeks. However, in both my ISA and Share accounts, the shares have been consolidated but the share price shown is the old one of 0.32p, yet my overall account value has gone up by 30%. It's completely screwed up at the mo, but as am not selling for some time, I'll just be patient....
Oops - I can't count. Thanks for confirming the correct day is Wed, not Thu for start of trading.
Yes indeed, Munchlet. The RNS is out, confirming all the AGM resolutions have been passed, so the share consolidation is going ahead and trading should begin on Thursday. Feeling a combination of twitchiness and excitement. I need to get out of the house for my daily lockdown exercise!
No worries. Thanks for your input. It's all useful info.
Thanks Basscadet. Sticking to the same example then, an award of $1bn might mean Nano receive $500m/£375m and divided by the number of shares gives 375m/603m = 62p premium on top of the share price. I appreciate I've plucked the award out of thin air - who knows what we might get, assuming we do win ;)
I've been reading a little on the interweb and on my other question, it seems the outcome of the Markman is that the judge indicates the likely outcome of the case and it doesn't stop the defendant from proceeding to trial. It might encourage them to settle pre-trial but that doesn't seem Samsung's style., does it?
I'm no legal eagle, and was wondering if someone can clarify this.. Is it right that from the Markman Hearing, the judge can issue a summary judgement and award damages, and therefore take away Samsung's choice of whether to go ahead with a trial? Or, is it more of a 'recommendation' from the judge and we will potentially have to wait for up to 2 years for the trial to finish? Unless an injunction were to be granted, it seems it would probably be in Samsung's interest to delay by going through the rigmarole of a trial.
One other questions I have is that if we win (and it seems to look better for N than S), the Legal Funding Agreement RNS says 'the Funder can expect to receive a multiple of their invested capital in the event of a settlement or judgement in favour of Nanoco'. Simplistically, will this mean a gross award of, say, $1bn, might mean Nano only receives an amount net of the TPFs slice of the cake.? And that, if it does go to trial, the TPFs investment may be greater and Nano will receive still less?
GLA.
I noticed there is a note at the bottom of the RNS that says: Electing shareholders are likely to have to make a further equity investment very shortly after closing of the offer to avoid a material dilution in their ownership.
Does anyone know what this means? Does it imply we will get less than 35p if the deal goes ahead? Excuse my ignorance!!
Agree with all posters that there's no doubt this is more good news!! His background sounds perfect for his role, particularly in banking, finance, insurance and reinsurance and makes the new BoD look even more solid. I doubt this will accelerate any FCA decision to re-start lending, though it certainly should back up AMGOs case. I still feel this is weeks away but would be happy to be wrong.
Maybe potential PIs are getting bored with Board appointments and want a more racy RNS - that and a generally down day in the market, so far, may explain the lack of SP movement.
I really do believe the company will recover and am hoping to double on my average price of 9.26p over the next few months.
GLA.
Do you think it's mainly day traders and short-termers who are moving the SP now? In the absence of news about new contracts (all quiet on the Merck front) we really seem to be a one-card trick. To me, the daily moves are sort of irrelevant, as everything really depends on the court case, though with my average of 19p, the current price isn't exactly cheering :( The spread isn't that large, so MMs don't seem to be up to their usual tricks.
Samsung Electronics has just announced a bumper 3rd quarter:
https://www.bbc.co.uk/news/business-54728298
so more money for them to pay our damages!!!
It was recommended to me to buy BOO about 5 years ago when it was 22p. Regrets? I have a few. But I feel the current drop is overdone and when it dropped again this morning, finally bought two lots of £1000 at 227p and 236p (yep I am indeed a small investor). Unless something like fraud or misstating accounts comes to light, I feel this is a strong business with solid earnings and that the share price will recover to my target of 300p in the next few weeks or months. I don't understand why the PWC issue has caused such ructions - maybe on top of the Leicester problems it's just exacerbated the volatility and wariness around the company.
As for rampers/derampers here, do they make any difference? I always tend to think with medium to larger companies, IIs are the ones who shift the price rather than PIs. There are 1.2 billion shares, after all.
Here's some light reading from the Beeb, while we twiddle our thumbs as the clock ticks down to a hopefully newsworthy 30th Sept... https://www.bbc.co.uk/news/business-54230737