Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As we're doing tips, Panthera Resources (PAT) is worth a look. About to take the Indian Govt to arbitration under Australia-India Bilateral Investment Treaty. Legally fully funded, Faskens acting for Panthera. At some point in the next few weeks, Panthera is going to RNS the start of the proceedings against the Indian Govt and signal the amount they are looking at.
Allenby (broker) suggest this will resettle the sp at around 90% discount from the proposed award, and this is based on precedent with other companies who have gone through the process. Proposed award will be anything between 500m and 2bn, suggesting the sp is expected to settle between 32p and £1.28 while going through the process (current sp 6.5p).
Do your own research, usual caveats, etc.
Via Twitter:
Big Breaking 🚨🚨
There has been a significant issue at the London Stock Exchange, leading to the suspension of trading in the majority of stocks.
Note: Only FTSE 100, FTSE 250, and IOB securities are actively being traded.
@Lawrence, I'd be highly surprised if we were negotiating an out of court settlement. The BIT case isn't complete yet, and I wouldn't be surprised if Panthera waited until after Bhukia's auction to come up with a final arbitration figure.
@Prof, you said that Mark is coming to the UK mid-month - do you have any further details on this please?
It's immaterial now - the court has decided that Panthera has no right to the asset, and given our current Mcap Panthera couldn't be a credible JV partner unless it receives its payout/arbitration claim prior to Bhukia's auction (highly unlikely IMHO).
@Prof, thanks for this. Have you spoken with Mark to confirm?
Regarding the deleted post on the thread about 'exciting times ahead' - yes, there are several, diverse catalysts for growth that we know are in the pipeline. We just want to know when.
It seems pretty clear to me that the speculation and squabbles on the board are symptoms of investors being in the dark at present.
I'm disappointed that we haven't heard from Mark since the court decision a week ago and the financial performance results on Monday.
Likewise, the last Corporate Presentation was in May last year. The timescales and actions within that presentation went to the end of 2022 - we're now in Q4 2023.
All of these directly impact the future direction and investor case for the business. I would like clarity from Mark on what's next for Panthera, and the corresponding timescales, sooner rather than later. Come on Mark, throw us a bone!
I say this with my tongue planted firmly in my cheek:
Panthera submit the winning bid for Bhukia, hand over the BIT claim instead of payment and everyone calls it a job well done.
In all seriousness though, I agree Shear. I suspect that some of the ground work for the BIT claim has already been done over August/September, and the auction will help to inform the compensation claim amount.
There's no RNS or new articles this morning, the case for investment is well known and researched among regular posters, the catalysts for share price movement are awaited and the status quo unchanged. What would you like people to say?
I'd like Mark to set out a timeframe for near-term steps on Bhukia shortly.
Also the last corporate presentation was published in May 2022, and given developments on all fronts in the intervening period, an updated corporate presentation must be forthcoming at some point.
@Edhellas exactly. Panthera hasn't thrown its toys out of the pram at any point, and Mark has been consistent in his messaging about wanting to reach an amicable agreement. The actions thus far by Mark are those of someone wanting the BIT process to be a last resort rather than the favourable route. Ironically, this could act in Panthera's favour during the BIT process.
In an ideal world, at 7am tomorrow Mark drops an RNS informing us that arbitration has been instructed and Panthera is seeking compensation of £X (a defined value), and then next week we get Cascades as the cherry on top.
I don't think it'll happen though.