Member Info for ejt7777

I think another poster re: silly timescales was me, again with clarification.

I read somewhere in the dim distant past that upon triggering the NoA an arbitration panel has to convene within 6 months. That doesn't mean they have to have the case heard, done and dusted in that time, just that the panel who will receive the evidence etc. must be appointed and convene for the first time in that time frame.

I'm also expecting 2-3 years from NoA submission to outcome.

Top,

We both know they have to RNS things like this.

I get your frustration and am also itching for the NoA to be issued. However, given what's at stake and the size of the prize, I'd rather Mark and Faskens take their time to ensure all i's are dotted and t's crossed now rather than rush it through and it prove a hugely costly mistake.

For what it's worth, I don't think we're going to be waiting much longer.

That works out at about £22/share... can't be right, surely?

Short answer is 'it depends'. Read the 'Exploration' section of the link below for a nuanced explanation.

https://stockhead.com.au/primers/primers-asx-mining-stocks-jargon-explained/

Hope this helps

Good insight from Prof about Mark being in a board meeting - the starting pistol was clearly fired this morning, and we are re-loading for the next round.

SP up 20% on still relatively little volume - as word gets out on this, I agree that it will fly when we have serious volume.

Exciting times!

Gall,

I think that Prof had said based on his conversation with Mark that we should have received an updated company presentation yesterday - perhaps this needs to be revised and we'll get a double-whammy RNS?

Either way, Prof said that we should be receiving an RNS at some point this week or next based on his conversation.

Well, if it has been bought by a tiny outfit at below fair market value, there will be no prospect of amicable settlement at fair value for PAT.

Time to get the NoA issued.

Should've been clearer in my message - apologies.

I'm expecting an update re: settlement or NoA to be issued this quarter. Based on Prof's feedback, I'm not expecting the claim amount to be formalised for another 6 months (min)

Agreed re: delays to issuing NoA and the claim amount unlikely before the end of the year - both of those are v frustrating.

Yes, it's a medium-long term hold here, but I think we'd all like the long term to be as short as possible.

Fingers crossed we get a steer regarding amicable settlement one way or the other at some point this quarter.

You also don't announce your AGM (largely procedural, dull and a tick-box exercise) in Ethiopia for no reason, especially if your HQ is in Cyprus and you held your last AGM in Cyprus.

Thanks Prof. Looking forward to seeing the rest of your message and the release on Monday.

Based on what Prof has said, I agree with Gall that I don't think the auction result in terms of sale value is the main thing here. I think PAT's doing 2 things:

- providing reasonable time for the Minister for Mines in this new government to respond.

- waiting for the auction to at least commence (but probably conclude), providing clear proof that further dialogue is pointless.

Thanks Prof.

I suspect that all of my other questions are price sensitive!

@Prof, pls can you ask if Mark is planning on issuing an updated shareholder presentation any time soon?

It also looked like Mark had a few new slides - hopefully a new corporate presentation will be forthcoming soon.

Notice of Arbitration is ready to go. At the end of the video, Mark says that it makes sense to stay in the engagement period to engage with India, as an amicable resolution is in both parties' interests, and that the moment it's not likely/viable/possible, the NoA will be issued immediately.

IMHO this will be when the asset is auctioned.

Arbitration update at the end of the video.

Ahhh, infighting on the boards. You know what that means?

We're getting close :-)

(For clarity, this is very much meant tongue in cheek)

Bit of volume this morning (admittedly in the wrong direction), and the number of trades is outpacing the number of posts on the LSE board for a change.

Is there a leak?

Having been invested here for 3+ years, I'm of the view that India regards Panthera as an irritant to be ignored. This will only come into sharp relief when they get clobbered in international arbitration via the BIT.

In the interim, I expect that they are just going to try to sell the asset, ignore Panthera and its claim to Bhukia. What assurances they will give to bidders and retained liabilities on the sale are probably bound up in the $18M auction particulars.

I honestly think that they are waiting for the auction to at least start to issue the notice of arbitration, as that closes out any prospect of amicable settlement.