Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Bought in a small tranche this morning, and will add next month. Looks well placed now manufacturing is up and running in US. I expect this will be a key trigger for more sales with further announcements forthcoming. GLA
That is outrageous tbh. I feel for you. I’m with Halifax and feel fortunate that they’re pretty on the ball with things (for a mainstream bank). I’ve never had any particular issues with them and on the very rare occasion in the past 15 years I’ve been with them that I’ve raised an issue, they’ve promptly resolved
I don't expect dilution, because GC keeps buying. He wouldn't want to dilute himself. More likely he would want to take this private with a PE/VC
Not sure there's much to get excited about there. IFB delays, break even pushed back and questions over whether they will need to raise further funds. It just doesn't seem like they can get market traction for commercialisation. They're really in the last chance saloon and enforced legislation is likely to be the only potential saviour.
I sold out of my small holding in DVRG, having seen it almost completely wiped out. I have a similar sized holding here, I will hold purely on the basis that GB's wife sold DVRG to buy MSYS. He knows where the skeletons are and I'm sure his missus wouldn't have bought MSYS if there were similar skeletons here. IMO, ATB
They'll do anything to keep this over $1!
Ouch, that is painful. Truly horrendous management. I'm glad I sold out before the share got suspended. That was a uncomfortable loss, but not of the magnitude that this is going to. This will go private, and shareholders will be left with very little, 1p at best
Any thoughts on whether the change in Italian government will change their position - ie. the new government could have a different viewpoint, or merely wish to draw a line under this and pin the blame on previous administration. I'm not close to the political situation in Italy, so merely speculating.........
There was also this snippet in the Government announcement today:
Today the UK Infrastructure Bank (UKIB) has announced it will appoint managers for equity funds covering both short and long duration electricity storage. The bank will invest up to £200 million across the two funds on a matched basis, crowding-in wider sources of finance into the sector, and expects to make direct investments in electricity storage going forward.
https://www.gov.uk/government/news/shapps-sets-out-plans-to-drive-multi-billion-pound-investment-in-energy-revolution
Please do elaborate as to why you think this.................
This is from the year end accounts, revealed in Dec:
The Group had net assets at 31 July 2022 of £11.8 million (2021: £19.3m). Cash and cash equivalents of £5.1 million (2021: £17.1m) were improved post balance sheet by proceeds from the Placing of £5.7million and receipt of both the Sanofi milestone debtor of €3million and the prior year R&D tax credit of £2.1million.
Both cash and costs continue to be prudently and tightly managed.
These financial statements have been prepared on a going concern basis, notwithstanding a consolidated operating loss for the year ended 31 July 2022 of £10.5 million (2021: £5.9m), revenues of £2.7 million (2021: £5.6m) and net cash used in operating activities of £12.1 million (2021: £3.1m). The Directors consider this to be appropriate for the following reasons:
The Board has prepared a number of cash flow forecasts for the period to 31 July 2024. Each of these show cash resource until March 2024, being 15 months from the date of signing the financial statements.
Should the company not receive any revenues from existing or new deals in the forecast period, a cash shortfall will arise in early 2024. The Board considers they are able to take reasonable mitigating action, which includes but is not limited to a reduction in expenditure on certain discretionary research programmes to focus purely on commercialising earlier stage drug molecules, and reducing other discretionary administrative expenditure, which would enable the Group and Company to continue to operate within its existing cash resources during the forecast period without the need for additional funding.
I noticed that quite large drop yesterday but it has since rebounded today so looks like a breather hopefully
Yeah it's definitely got momentum now, 3 days in a row with significant rises