I'm shocked, shocked I tell you!
I recall some time ago that MB said he was in touch with a potential mining partner who may be able to unlock the courts. Fingers crossed that those discussions are coming to a fruitful head.
As an aside, I was reflecting on what might be needed to unlock the courts in Panthera's favour:
- Would a JV be enough?
- Would the full sale of Bhukia to this third party, Indian mining company be required?
- Would a wholesale takeover of Panthera need to happen?
- Is the law of the land (or its interpretation) going to change, based upon recent payouts?
Thoughts on a postcard.
Just had another look - 13:00 UK time (17:30 in Rajasthan). The court website still hasn't been updated.
Does anyone know how long it has taken the courts to update their case statuses online for previous hearings please? Thanks
As of 10:40 UK time the court website hasn't been updated from yesterday's scheduled hearing.
My gut reaction is that either the case wasn't heard yesterday or they have kicked the can further down the road with it, purely on the basis that if a positive ruling had been made yesterday it would have got out and we'd have seen some positive share price action this morning. However, I'm sure we'd all be delighted if my gut reaction was proven wrong!
Hi John,
It was an old thread that I bumped - was looking for the link and the Rajasthan High Court website looks to have been renewed.
For those that want to check on the details:
Website - https://hcraj.nic.in/cishcraj-jdp/
Search Criteria - select 'Party Name'
Party Name - type Metal Mining
Pet/Res - select 'Both'
Status - select 'Pending'
Search Type - select 'Exact Word Search'
- Click 'Search' -
- Click 'Get Data' -
Click on the blue hyperlinked case number (CW / 13521 / 2018)
- Click 'Load More Information' -
- Scroll to bottom -
- Click 'Orders and Judgements' -
The orders and judgements are listed chronologically - you can view/download by clicking on the buttons to the right of each line item. The last line entry is for 02 March 2022, hence it hasn't been updated yet.
Hope this helps,
ej
Just wanted to update on the website for the search function - it's https://hcraj.nic.in/cishcraj-jdp/
No update as of 1530 UK time on 28/3; suspect any update will be tomorrow now at the earliest.
If I'm honest, having been invested for a couple of years right now PAT feels somewhere between a 'bottom drawer' stock and a turkey, so I don't disagree with Stockopedia's sentiment, if not choice of wording.
However, some good JV news in India and a favourable court outcome would quickly revise this...
I agree.
In my (albeit relatively limited) experience of AGMs based on my investments elsewhere, they can be largely procedural, and any investment-sensitive information to be discussed during the AGM would have to be released by RNS beforehand. AGM hype without an accompanying RNS is largely just that.
There's still time before the end of the quarter, with analysis and drill contractor details outstanding.
@mickey, please can you share the court website address and the parameters used to search for the court status? Thanks.
@JL I agree, market sentiment just isn't with PAT at the moment.
I'm pretty well researched and, for all of my other holdings, I know the approximate timescales for value-altering (hopefully value-adding, but you never know!) news off the top of my head, and expectations for the topics each RNS may hold. I don't have clarity at present about how Panthera is going to generate value for itself and us as shareholders, and therefore can't generate an investment strategy based on the little info out there at the moment. That's got to be as offputting for potential investors as it is concerning for current investors.
I understand that the company can't comment on a live court case, but what are they doing to break the deadlock? What's the expected timescale for any JV partner at Bhukia, how may parties are they speaking to, etc. and what level of confidence do they have that a JV partner will free up the court stalemate? What does 2022 look like regarding progress at our other assets?
Some PR from MB is required ASAP.
Without wishing to sound negative, I'm genuinely not expecting anything from this week's court listing, unless a favourable JV partner who can break the deadlock is formally on board with PAT beforehand. Not sure on the likelihood of that being the case.
As ever though, I'll be delighted to be proven wrong.
In terms of any buyout, the BOD and a majority of shareholders would have to agree it. Any buyer would have to make an offer which is attractive to HE1 for it to be seriously considered, and 13p isn't it at this time.
While everyone will have their own opinion about an agreeable SP for takeover, in my opinion (and it is my opinion only) I don't think any offer of less than the last year's high plus 50% would be entertained.
Hi there,
Many people have been underwater for some time on this share, including myself until last week. I don't think anyone can (or should) tell you what to do regarding your investment strategy on this - it is something for you to research and make your own mind up about.
For what it's worth, last year there was positive share movement when the drill contractor was announced, share movement into spud and the helium show. We know that a drill contractor is to be announced for this year's drilling, and that drilling is scheduled to start in Q3. Personally, I expect positive share price movement on news of drill contractor and spud. The output from those drills are obviously unknown at this stage.
If any 'current unknowns' appear in the meantime (e.g. major investor, JV, takeover), this will also have an effect on the share price.
Hope this helps.
JL, just going off the way the case was kicked down the road in 2021, and MB divulging he's having talks with a potential JV partner and assessing whether they may assist with unlocking the court situation.
Of course, the court may rule in our favour alone tomorrow or a subsequent session, but (and it is only my opinion) I *think* it's more likely that a JV partner will be selected on the basis of both of being able to unlock the courts as well as our wider commercial needs.
Does anyone have the link to the case status website page please? Looks like the website might have been updated.
FWIW I don't think there will be any transformational news this side of MB agreeing a new JV partner for Bhukia which is agreeable with the courts.
I haven't messaged on here much in recent times - without much news there hasn't been much to talk about.
@JL, I recall that, after the postponement of the Bhukia decision around March this year, the conversations at the time were that 2022 would be more progressive for PAT than 2021. For me, that remains the case - personally I'll reappraise the situation in Q2 next year, but until then I'm just keeping an eye on things periodically.