Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Hi Sheds,
"May I ask what is it about Toral the asset that you have come to doubt?"
1) If the asset is good why a change in strategy to look at other assets and not use the "War Chest" funds to progress Toral quickly. Surely if you have a banker why not materialize it first to then have funds for further exploration and growth.
2) No clarity on why a deal fell through. You don't have to name the interested parties but you could explain why the Toral deal fell through. Did the interested party call it off or did the BOD say no. If the BOD said no, why?
3) Would LR really leave if Toral was close to being JV'd or sold. It was his baby for many years and he worked extremely had on it. If we were so close I'm sure he would have hung on.
4) Opposite to 3) LR was pushed because DB and Bennelong have looked into Toral and think it's not what they thought.
Just my thoughts obviously but as you asked.
Guys, the wolf pack mentality on hunting Highside is a bit much. Everyone is entitled to an opinion. The common element is that we are all invested and have lots of skin in the game. It's a worrying time with the radio silence and we're all looking for some reassurance.
Another common element that the majority of LTH share is that Toral is a good asset. I say majority as I used to believe this but I'll be honest since the JV / sale fell through I do have my doubts. I really hope my doubts are proved wrong.
However the money aspects and what's left in the "War Chest" is my main worry. We have been told of 50% cuts on directors salary's but no projection on how long the pennies will last. I only can compare EUZ to my other AIM investments who are very clear on this. Maybe its because they have a CFO but at least with them I have visibility of a strategy and projections.
MM I don't think anyone is defending LR and probably glad he's no longer CEO. Think the SP reflects that. I think knowing if he was pushed or left voluntarily would allow people to start making plans for their investment.
I'm hoping he was pushed and change is on it's way. I'm more worried and my gut tells me he walked for either the options 2 or 3 I listed in a previous post today.
I think its obvious that LR wasn't pushed and I think he left under is own free will. If he was pushed I think the BOD would have had somebody lined up before telling him go.
We're basically a tanker steering off course without a Captain. Whats interesting we haven't dropped below 4p, probably because investors have no information to make an informed decision.
The big question is why did LR leave:
1) He thought I can't do anymore and threw the towel in.
2) Something is happening that he did not want to be a part of.
3) The money is running out and he's jumped before the tanker hits the iceberg.
Colin Bird working his magic on BZT. It's number 1 today and below is interesting:
https://audioboom.com/posts/8027515-midweek-takeaway-with-colin-bird-executive-chairman-of-bezant-resources-aim-bzt
Oh how we need someone of his calibre!
Interesting that on LR's LinkedIn profile it says he finished at Europa Jan 2022 and the RNS came out on Feb 3rd. I reckon it wasn't a shock departure and was probably LR's decision to leave. Has anyone tried contacting MC directly?
Sorry not the wrong word, they wouldn't. They would just buy the asset and keep listed as UFO. Interesting Mailgirl mentions SXX. I've also mentioned that scenario before. However SXX holders were well and truly shafted by the BOD and Anglo American got it for peanuts. I would rather risk RTO and see Toral mothballed than a cheap sell to another company.
IMHO if we aren't bought by the end of Q1 I think we will become a cash shell. I think we only have 2 months left in the so called by LR "War Chest". Maybe LR jumped before the end.
If we do RTO it won't be UFO buying us as they're already listed. It will be some private company looking for a listing and probably not even associated with the mining industry.
H Mailgirl, I think all LTH just want the opportunity to minimize their losses and run. I don't think there's one person who thinks EUZ has a future anymore. I predicted way back late summer that EUZ will become a cash shell in 2022 and by the end of 2022 will RTO. A take over by UFO would prevent this inevitable situation from happening.