Member Info for daramuda

Ricky - can you please post a link to lluka. Thanks.

Agreed. Plenty to look forward to with a fair wind: 1. EIA approval 2. Mining licence 3. Finance - be it a mixture of loan bank or other and equity placing. I wonder whether Martin French will try and replicate the Shali deal and get a local financier to advance funds so that the Namibians are further involved.

Gibraltar1 - I am grateful to you for your thoughts.

I would be interested to hear from Gibraltar1 as to how he sees a return of value to shareholders now that the take out talks have concluded bearing in mind his holding north of 4.5M if he does not mind the imposition. I am at a loss save for the suggestion of a progressive dividend policy if profits increase with controlled costs, increased turnover at current sale prices or a rising sale price or whether there may be a bid. I do not know about other holders but Pala came in as turnaround specialists and I doubt that they want to stay invested without a return any longer than necessary. Just my opinion.

exercised but how are the directors going to be able to benefit from the underlying value? Sell them into the market? I don't think so. So how?

Rutile and ilminite - increased production and costs reduced and both production and costs appear to be improving further; more and more hectares being planted and plant oil produce 2017 with pineapples later this year; and fish. I am surprised that the interested party or parties did not see fit to make an offer that could be accepted by the board. But you never know. Q2 figures out early July.

Corbs - if one reads the results for year ended 31.12.13 and Q1 statement with production rising, costs still reducing and the agricultural land being planted with over 200 acres already planted and further with palm oil being available in 2017 SRX has imo to be under valued. Also all the company needs to make a large rerating is an increased market price for its rutile. I also like the idea of the lakes (formed from redundant mining land) being stocked with fish. A source of fish fingers for Birds Eye?

Corbs - I am not convinced that they have sufficient reserves to create a special dividend, but the start of a sensible dividend policy could be very beneficial not just for the likes of you and me but also investors like Pala.

That institution or two would want to see a return also. It seems to me that the rutile price will make a comeback but in the meantime Sissay with Pala's assistance has got the company's costs under control - indeed reducing - so that the company should be comfortably in profit this year if sales hold up and they look positive. In addition that there is the developing agricultural business. Besides waiting for the business to grow in the hope that a purchaser will acquire, the only thing that I can see that would reward shareholders and be attractive to a purchaser/s of part of Pala's interest would be an interim and full year dividend. Also it looks to me as if the board felt in November last that a takeout would happen; they did not realise at the time that they would be squeezed on price.

But how is the board going to unlock value. Pala have personnel and money invested in the company and surely Pala are not going to stand still and not see a return. Any ideas?

If there is a lack of resource of zinc and lead elsewhere, and provided the resource is present at Namib, this mine will come in for demand from third parties as runner hints. I believe that we will receive an offer after production starts in 2015. By then research will be under way in respect of the new licence EPL 5075 and if the prospective resource of zinc and lead is anywhere as good as the original EPL that will make the overall territory that much more valuable. In short a great prospect.

Well worth a look. Strikes me that it has been prepared for two possible reasons a) to encourage a higher offer and/or b) to show what may be on offer for shareholders in the future if a take out offer is not agreed.

Excellent result for the quarter and as i read the rns market also improving.

imo more likely to be between 11th and 18th April...................................................but I am really looking forward to it!!

In readiness in the event that case Gibraltar's hunch is right and an offer is agreed in the new tax year, added some today. He is so very right on one point that if the talks had been called off the company would have been bound to make an announcement.

Quite possible Gibralter but then we should also have full year results. If a deal does not agreed how are Pala going to see a return on their 54%? A dividend?

The current share price does not have the feel of a take over price of £2 per share.

I agree Ricky. Pala are turn around specialists and imo will not be the buyer. But if a price cannot be agreed between the major investors and the potential buyer, how does Pala extract value; dividends; special dividend?

How are Pala going to extract value if a deal is not agreed? After all they are turm around specialists and will not want to remain for ever without a return.

We are in agreement though I did not expect us to get to 1.5 at this stage. The waiting is a tad frustrating.