Member Info for BuyHold

PXC is my main hope.

15% up on the TSX overnight following a similar sized drop the previous session following the RNS. I don't understand why it dropped but good to see it up again.

Thanks RO. I've looked at the May 2020WH Ireland research note along with your excellent analysis. Thank you. Looking at Table 9 - the precious metals cashflow from Empire - the WH Ireland figures could be increased x5 or more based on higher AU g/t, recovery and AU/AG prices. And, as you say, this cashflow was excluded by WH Ireland in their valuation.

With the likely news flow over the next few months, I'm glad to be invested here - my biggest shareholding.

Drilling results look very good to me. I bought in recently after research and watching a few director interviews. Seems pretty much under the radar.

I agree with you. I suggested they might publish their holdings in their quarterly net asset update - like Berkshire Hathaway. I can understand why they might be a bit reluctant where they are building up a stake. I asked how we could be sure they still held shares in various companies. The director said that their website was up to date in repeat of stocks they where they had investments. But, of course, the website does not specify numbers of shares held.

I asked SVE for shareholdings and a director emailed me back to say they don't disclose them. But by all means try. Maybe if enough shareholders ask them, they might change their policy.

Great work again RO. Many thanks.

Great analysis re warrants RightOn. Thanks very much.

RightOn, that's a really valuable report. Thank you for the hard work and sharing.

Many thanks for meeting PXC. It would be interesting to know if PXC is still on track with the objectives set out in the June presentation on the website. For example, the PEA for Red Star is scheduled for September and a resource update by the end of this year.

Many thanks RightOn. Fingers crossed on results

They drilled about 10,000m in Q2. Any estimates of how much that would have cost?

30 June balance sheet
Total assets $15.3m including £2.0m cash
Total liabilities $1.8m including $0.9m borrowings

At 30 June (RNS)
Net assets increased to $13.51 million (2019: $10.56 million), including cash of $2.05 million (2019: $0.32 million)

Here's a link to a recent Scott Maybury talk, followed by a short Q&A: https://www.sharesmagazine.co.uk/video/pcf-bank-scott-maybury-chief-executive
The slides he uses for the talk are also on the PCF website (investors page), along with a further set of slides relating to the interim results.

Regarding lift-off, I read an article about PCF on the Cube Investments website https://cube.investments/pcf-pcf-qa-report-from-agm-8-march-2019/ in which CEO Scott Maybury talks about the difficulty for sub-£100million market cap companies in attracting the attention of institutional investors. PCF is currently at £82million. So, not too far from the magic £100m. If PCF continues to hit its targets, we have a decent chance of getting there.

Upbeat analysis of PCF: https://masterinvestor.co.uk/equities/pcf-group-rapid-growth-in-sight/ Also, I see that PCF have completed their first bridging loan: https://www.bridgingandcommercial.co.uk/article-desc-14556_PCF%20Bank%20completes%20its%20first%20bridging%20loan

Thanks for the video link. PCF looking in great shape for 2019.

There's a nice article about PCF, dated 29 October, on the This Is Money website https://www.thisismoney.co.uk/money/investing/article-6329071/SMALL-CAP-SHARE-IDEAS-PCF-Bank-stands-new-breed-challengers.html

I thought the trading statement would come out by the end of September. I guess it might have done if the Azule deal hadn't been imminent. I have no inside knowledge but I'd expect pretty pleasing figures based on Capital Network's last research note (see PCF website). Also, I'm a bit surprised the share price hasn't risen on the Azule news as, if the integration goes well, PCF should beat current market expectations for ye 2019.