The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Shahz. I'm in agreement, a high PI contingent will defo be a red flag for me moving forward! PFC was a basket case a few years ago with the SFO investigation, it is here that PIs took the majority holding (especially with O&G out of favour for instititutes). Somehow the company has turned it around with the Tennet contract. If the MEED report on Algeria £1bill contract true then the company really is on a forward track. The investment industry now wants to take PFC from the PI and that is what this whole play is. It's going to need a left field solution. COME ON ASFARI!!!!
Asfari is still our main weapon in finding a way out. That and ME connections.
His shares have lost on £100million in the last two years at current market price. I repeat £100million.
Thus there is huge incentive to find a way to salvage share price from inside the BOD.
I still look at tullow who managed to secure $2b in debt in a huge restructuring.
A third of that from a ME guardian angel would see PFC moving forward.
The SP decline has been (justifiably?) amplified by the shorts, the BOD need to step up now and the pressure for the performance guarantees will help them focus hopefully and put us in a better place moving forward. That said our chair Medori has been on the board since 2012 and look what has happened during his tenure. He needs to fall on his sword as soon as things are crystallised.
Kept my money in.
It is already horribly diluted. 30% on the day.
Nearly 50% of creditors happy to take equity. The company has convinced them. Probably not to hard with an 8 billion order book.
Equity already at 96% discount to 5 years ago. 80% to a year ago. 65% to 6 months ago. 40% to just a month ago.
Shorts have already pushed this in to creditors hands at bargain level. Creditors saying thank you very much. Can shorts make any more?
I'm no guru at this but interesting chart. A MACD Bullish divergence has formed since Jan/Feb with a tight channel down. Looks good but could retreat to 4.8 before a reverse.
https://ibb.co/q9D9Lwk
Predictions - Down to 4.8, up to 13. Retrace to 9 then up to 20. Continuing pattern of pullbacks before higher highs as gold comes out of the ground. 40p target for me. Down from my 44p target a few years back!
This has been one tough share to be invested in though I have found it very interesting as I've probably not be so engaged in a miner's unfolding story before. Bought more today at 5.6p.
All auto trades still to the buy side. This will keep rising.
Most auto trades in the 25's. Mopping up.
If D4E was at 25p the company is probably valued at at least double that.
Maybe the debt holders and the shorters are working together. The debt holders want the debt for equity exchange as they see the future value of the company. They refuse new debt terms and get the shorters to drive the price down so they get for equity for their buck. The shorters work safe in the knowledge that if the debt holders don't get the price they want the company will fold. My reading of the RNS is that D4E has been discussed and if it has been discussed then a value has probably been put on it. The positive of all this is that they want the equity, so PFC must look good on paper. It's a question of how much is left to LTHs.
Agree Asfari is our trump card. It'll be interesting to see what the bonds do today. I actually sold a few shares yesterday because bonds were not reflecting the increase in share price. Glad I did. Bought back this morning.
Great work bringing attention to this Dip. It was for me one of the stand out/exciting comments from the webinar. Looking forward to them making Telfer 'sweat'.
Autotrades being outstripped this morning.
AA has too many shares and too much influence on Board. He will be working hard to find a solution that doesn't undermine his own position and wealth. Good news for other share holders like us and bad news for short's.
What ever the nature of these buys it definitely feels like there is a certain amount of subterfuge. A few days ago the SP never got above 6.5 but after hours a series of chunky buys at 6.7 were posted. These trades obviously delayed to keep a cap on the SP during the day. Equally how in a modern digital age buy/sell is determined by the mid price, not the actual transaction which is most certainly known and noted on a computer on someone's desk, is crazy and more importantly suspect. All is staked against the PI but we fight on, SD our white knight and his trusty nag.
They have had to do this to try and save the ftse and uk markets. Our markets have stagnated for 20 years. Mainly because the funds have been fleecing everyone and people have taken there money to the overseas markets now. This new British ISA scheme aims to get a load more of the publics money in to the UK markets so it can be worked in to the hands of the spivs eventually. GGP is a fine example of a company whose fundamentals are great and it is being worked so that the ii's can come in late and steal the rewards. SD's chat last night left me thinking he knows this game is afoot and actually is on our side. It'll be a fight though,
Where are all these millions of shares that are being bought coming from. I ain't selling. The question really needs to asked.
I just bought for 22.34. Will it bounce once gap filled?
A brilliant presentation yesterday. The oresome ore body (sorry for the dreadful (and probably much repeated) pun) really well represented.
As mentioned below SD intimated that the the purchase of 70% would be way down the line for Newmont (NA taking priority) but GGP were in prime position to benefit with LROR probably putting off other bidders.
I expect if we are successful in such a bid a raise would happen at the same time as an ASX listing. But SD's definition of accretive is important, it means that we current share holder will own the same amount of the mine. That means value must come to what we have NOW, as it won't be diluted. So the question is do you believe 30% of Haverion is underpriced at current market cap. I do, so I will stick with my million plus shares until gold is coming out of the ground.
Unfortunately GGP has a huge PI contingent and the market punishes a company for that. It wants to transfer that wealth to itself. FCF and dividends can draw a line under such things but I believe SD's definition of accretive is an attempt to tell the market, current share holders are protected. I'm happy.
Yes good stuff referencing his experience with mature mines at North Star.
Good comment about why GGP feels like they are in a strong position for 70% because of LROR.