Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
You'd think if JL & BAM were the sure fire winners after 17 years with existing resource + enormous potential that we'd be a target for a hostile takeover?
Before anyone shouts me down you'd also think the working capital must be getting drained away with not a lot to show for it over past 6-7 months.
Assume Bill is retiring from Lamaune Iron Inc then? Might as well chuck my holding there in the waste bin! What a disappointing ****-up.
I'm sure if an offer was tabled circa £1.50 it would be voted through by shareholders regardless of what Bill's view/objection was. Sprott + longstanding ord s/holders would surely see to that?
That's been a big part of the problem here over many years - it's been run as a private company rather than a more traditional plc.
Who knows what Bill was expecting/demanding from any approaches via the SR? £1, £2, £3 ??
Certainly not ord shareholders. That said, I realise he does at times need to keep his hand/cards close to his chest.
Still would be gobsmacked if Bill took a back seat even if a new CEO came on board. And whether Glenn would hang around.
I always thought they were joined at the hip. But you'd probably know more about that me sportbilly
I'm still not convinced IF there's to be a new CEO with BH nolonger running the show that Glenn Featherby would hang about. He seemed to only come on board as an accountant to take care of the finances when Bill was desperate given Prickett's sudden retirement. Prickett was then LND's CEO but was truly only a glorified accountant and it was obvious BH was running the show. Prickett once claiming in a press article that he couldn't defferentiate one rock from another.
Are LND really going to recruit 2 new executive directors? Somehow I doubt it.
JB73, I suspect he's feeling no different to anyone else - like me - who has been a loyal investor here for past 15+ years.
Not so sure he's done "a good chunk of the work" having only come on board when Prickett headed for the exit door.
And Glenn has at least been remunerated for his efforts.
And I assume will do very nicely with Options should an end game be forthcoming later on in the year.
Hope springs eternal.
There is a longstanding LND poster on another site that genuinely appears to have the ear of Glenn (now way past normal retirement age).
FWIW this is what he posted recently, and makes sense to me. Don't think there's the funds in the kitty to recruit 2 new main directors.
"Glenn wants an exit - he's had almost £1mln tied up here at average just shy of 50p for over 15 years.
No way they partner into production - they are an explorer and will sell."
I don't think Bill or Glenn are the slightest bit interested in finding successors.
They are only interested in finding a buyer that meets their valuation.
Not to worry - there's still the exciting plan afoot to replace Bill as CEO. Assume for Bill to be then made Chairman again as he was 17 years ago when LND first launched on AIM from TSX. And remained Chairman until 2015 when the then CEO took retirement. And Bill took over as CEO.
Management succession like no other.
In the meantime approx £70m spent & share price devalues by 95% from it's first day's trading value on AIM. 17 years down the track.
......if he'd been CEO of a FTSE company he'd have been shown the door long, long time ago!
It would certainly partly explain why he has managed to trouser significant remuneration/fees/expenses here & there over the past 25 years without ever achieving any end game as he enjoyed a life based in s****y offices in Mayfair whilst globe trotting between Italy/UK/Canada/Argentina/Guernsey.
£70 million expenditure at LND. £100+ million elsewhere. Zillions of Options granted over past 17 years with LND. None ever exercised.
Am I missing something here??
When is the granted Option have to be exercised by??
1 Month? 3 months? 6 months? 1 year? 2 years? Open ended until whenever it suits GTM??
Hope there's a happier ending than the Option LND granted to First Nickel Inc many moons ago.
Could someone answer this for me please? How long is the Option granted to GTM for? When does it have to be exercised by?
Am sure a date must be there but I couldn't see it.