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@OTB. What would be in this next RNS that would value the company a 3x current value ? If cash was reflected directly in the SP then 0.158p would be added per £1m at the current issue level. Hence £2m would be circa +0.31p or a mid of circa 0.835p but the £2m goes on any new battery based investment so we’re back to 3x current. I am really interested to know where you think this value is coming from in the next RNS ?

there's a saying goes along the lines of ... you can wrestle with a pig in **** for so long until you realise the pig's enjoying it. i would further add that watching two (or three) wrestling in ****, each equally enjoying it, has very limited appeal. just as nobody on their death bed said .... i wish i'd spent more time in the office, nobody on their death bed said ... i wish i'd spent more time trying incessantly to score petty points on a share chat.

So a major milestone passed for PFP with the shareholder vote to sell IMM to AAG. Such a momentous occasion that it could only muster 32.87% of shares in issue. PFP had already told us that they had circa 40% votes prior to the meeting. My point is that some holders are so far under water and have their certificates so far back in the bottom draw that they have little or no interest. This means that only circa 33% of shares could reasonably churn on anything like a semi-regular basis and only by those who are day trading, LTH will simply sit on their hands, some may get to the back of the draw for some pocket money, CGT opportunity gone for another 11 months. Do I want 1p, 2p, ...... 7p of course I do but talk of the SP rocketing is in my opinion misguided. £2m will allow some stake to be taken elsewhere but this can only be developed with further calls and further dilution. The tax situation will help but any payment from the MozGov in the context of PFP's new direction redefines jam tomorrow and England could do worse than study a dead bat approach from Moz with the Ashes approaching. Despite the major move forward patience remains the key, madness awaits those who expect the be squillionaires by Tuesday Rodders.

I don’t think this is the case. Do the sum of issued shares (632,494,834 )against his holding (16,000,000) and I think you will find it’s below 3%, same with Trew. Not sure why the website has these figures. What I am unsure about is why neither he or Trew have notified their holding going below 3% which I understand they are obligated to do under AIM rules.

No surprise investors are wary of a cash shell. Future looking news soon lets hope.

Happy for this to happen. The extended option date goes well beyond the possible cash shell date. Does this indicate a more positive pipeline post sale of IMM. Possibly of more interest is if Jennings takes his 11,666,668 warrants at 0.5p by 31st May 2023 which means today, which would add c.£58k to the coffers. My OCD notes the mess on the shareholder pages with Trew and Klaus reappearing.

I too am no corporate tax expert but my gut feel is that any tax loss can only be put against earnings/profits. Currently PFP’s earnings are non-existent but PFP’s tax position is possibly of interest to who ever reverses into them.

@Inv01 ..... I believe the 11th May option is for Dennis Edmonds current non-exec director. I can't believe that any negotiations are being held on his behalf. I can imagine some pressure to complete coming from PFP's major share holder Align with their +14m 0.5/1.5p warrants due 31st May. Remember Align were the chief reason Mr Summers was dumped.

1.25p 11 May 2023 10,000,000 Option D Edmonds 06/05/22 lieu of 11/05/22
0.5p 31 May 2023 11,666,668 Warrants R Jennings 06/05/22 lieu of 11/05/22
1.5p 31 May 2023 3,076,923 Warrants R Jennings 04/11/2020 Issue of Warrants
1.25p 08 June 2023 6,000,000 Option M Gasson 04/11/2020 Issue of Warrants
1.25p 22 June 2023 3,000,000 Option D Taylor 06/05/22 lieu of 11/05/22
1.25p 30 Aug 2023 6,000,000 Option P Taylor
1.75p 20 Sept 2023 18,750,000 Option S Farrell 6, S Richardson Brown 6, H Bellingham 3.25, Management 6
04/11/2020 Issue of Warrants
1.25p 03 Oct 2023 5,000,000 Option P Taylor
0.6p 29 April 2024 3,500,000 Warrants Broker Warrants To directors

The only guess at an explanation that sits well with me is AAG’s litigation expertise marking sure that all possible attempts at settlement/agreement have been covered before commencing the BIT move. Moz Gov cannot be allowed to wriggle out on a technicality.

They haven’t published the resolution(s), shareholders need to see the exact wording before voting.

I’ve mentioned Cadence before wrt MCap/SP not reflecting the asset value. Watch this Cadence presentation and keep PFP in mind, gives a great view into what PFP have ahead of them in developing future battery business, where the value jumps are and market details. Also the Q&A session highlights why money /investment have left AIM and AIM junior miners specifically … https://drive.google.com/file/d/10gxsE65GtX504qPJj1N7BVWaNnUY7g5H/view

@LFM, I think there’s two things that need to happen to underpin an SP rise. A positive GM vote re IMM and confirmation of the battery business’ direction. Even then AIM is by no means predictable. I don’t see the GM being brought forward given the date now and the date by which the meeting has to be held. Perhaps there are other things that need a shareholder vote, battery related, that are being sorted out now. I would expect a battery business update in a week or so with confirmation of the GM voting.

True, but the recent issue took his percentage holding to below 3% so no longer a significant holder.

@KEY2, why do you think Klaus hasn't notified the reduction of his holding below 3% ?

I imagine many that are selling are underwater on PFP so looking to offset CGT.

@Adamsky, your figures are as good as anyone’s, the key thing now is that PFP is selling IMM so in my mind all previous cost are negated. It’s AAG that will decide if a settlement figure suits them or not, their only obligation to PFP is that agreed between them recently. As you are aware I don’t see any great strides in the SP until PFP tell us in some detail what they’ll be doing with the £2m. I guess PFP will buy a license somewhere which put it back in the space of needing the wherewithal to develop such an opportunity. I consider myself a (very) LTH so to stop would be a tedious as go on.

AAG will pay PFP £2m for IMM and have found $15m to fund the BIT. They also have to give PFP a min of $24m of any successful claim. As its AAG that will now settle with Moz Gov they will be looking to get £2m plus what ever they spend of $15m plus $24m plus what ever in their minds make this all worth while as a settlement. If we say they feel 50% ROI is acceptable and they will blow the full $15m then they're looking at say ($2.5m + $15m) x 1.5 + $24m = $59. I find this interesting because I have always thought that PFP would have settled for $25m - $30m. So in my mind its a mistake to think that the Moz Gov will have ever considered what's the lowest settlement to make this go away, they won't do anything until instructed to do so my the BIT decision.

@Adamsky slight change in the wording of today’s RNS which shows your understanding of the $15m to be correct.

@Adamsky, my logic in the latter comment of my last post doesn’t make sense even to me now so scratch that ! You seem convinced that the $15m is something that AAG have to find to fund the claim so I’m OK with that just think it could have been worded more clearly.