Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I think what's holding the price back are these free shares management will get reaching performance targets, as set out in the prospectus. That would be material dilution and the market will mark down on the shares being issued but give no credit for the extra revenue being gained because the targets were met. Just IMO.
Appears I misread the presentation and the financial close for the peakers is now October 2022. Bit disappointing.
I do wonder what Align and Sinom, both 8% holders, make of all this? I imagine they won't be patient forever and will hopefully use their votes at the next AGM if progress is not made soon.
Peaker close stated as July 2022 - so no change there. I would like to think if progress was not being made then the presentation would have reflected that.
Mambare mining lease still end of 2022. Again if they were not receiving encouraging communications with the PNG government I would like to think the presentation would have reflected that as well.
Some reasons for optimism here, but also requires patience.
The landlord is probably the issue.
How do you get a presumably affluent individual to stop being stubborn and illogical, quickly?
The funder will also need to get this formally past an internal investment panel, and these can meet monthly or quarterly.
A lot of this won't be in SK's control, and does publishing and pointing to person X as the roadblock enhance or destroy trust? No option but to wait I am afraid.
Scott Kaintz said on that Stockbox interview about someone helping with a JORC statement on a Greenland asset even though the deposit was between two moving glaciers. He was saying how a JORC 2012 statement is better than the old standard and how that applies to WoWo Gap. I wonder if that was the Greenland asset RRR failed to sell and blamed it on a Russian buyer using a Cypriot bank? : - )
I wish Scott would resign from the RRR board and break that link entirely. Andrew Bell is not the best person from him to be learning from!!
If I am honest I don't think news is imminent otherwise the directors would not be buying on the open market due to sitting on price sensitive information.
I think their timeline of end of June 2022 (presentation) for financial close on Avonmouth remains realistic. Until then I won't be concerned about day to day movements in the share price.
I think the market wants to see execution rather than 'nearly there', particularly on the Avonmouth/Tring financial close. After that the sky could be the limit because management at that point have a track record of delivery. That is what's needed to get the herd to arrive.