Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Guys...the warrant holders in Rock can exercise the warrants regardless of whether or not they still own the placing shares in respect of which the warrants were issued but would need to have the cash to pay the strike price of the warrants (in Rock's case either 1p or 1.5 p depending on which warrants they have) and then can sell the shares created by the exercise of the warrants.
Very rarely warrants themselves are tradeable (eg MIL not that long ago had tradeable warrants) but that's quite rare and isn't the case with the Rock warrants(whether the 1p or 1.5p warrants.)So the fact that the warrant holders may have to stump up 1p or 1.5p per warrant to convert to shares ,which shares they can then sell, would naturally limit the number of warrants exercised depending of course on the available cash position of the warrant holders. If I held either the 1p or 1.5p warrants I certainly wouldn't be exercising any yet with a view to selling the shares created by the exercise.If nothing else its somewhat counter-productive!
H
Are there rules as to when a company needs to announce the exercise of warrants? Of the 15m referred to in todays RNS presumably that's a current cumulative total but over what period I wonder? Its a bit annoying that more detail isn't given eg what proportion of the warrants exercised so far are the 1p or 1.5p warrants(common sense would say that the majority would be the 1p warrants)of which 116 m were issued.
Anyway should all be a sideshow as the sp driver will be news lead only
H
Thanks Essex...so we have 1.5p warrants which expire in May 2020 and 1p warrants which expire Sept 2022. Why do people think those are necessarily being exercised and the resulting shares sold now? Also not a huge number of warrants were issued anyway. Cant see the sale of warrant shares having much influence on the sp.
H
Interesting to look at the historic trades on yahoo finance at a share like SOLG to look at sp trading pattern from June 2016 onwards. At the risk of stating the obvious it shows that even the multi baggers on steroids don't go up in in straight line so a 0.2/0.3p range such as we've had today so far is quite meaningless.
H
His silence on Rock speaks volumes...if that's possible!
If anyone needed evidence that he only talks his own book this is it. Months ago he would have been all over Rock like a rash after what's happened but he now only has eyes for that dog POW .
Come on the Rock!
They are rollovers...whenever you see two trades at identical sizes (or near identical sizes...sometimes the shareholder will pay the trade commission from the buy back price) at a marginal price difference within anything up to a minute or so between the trades they will be rollovers.Another clue is when they are far larger than average trades but don't affect the sp.
H
Have to agree Yorkshire ...very downbeat .Would have been better to have said nothing rather than give that interview.Why didn't Sharetalk ask about discussions re Molyhill funding/ JVs which will be the only sp driver? At worst he would have said that it was price sensitive and he couldn't say anything.I just hope he gets his act together for the forthcoming webinar!
At the risk of stating the obvious its the market cap of companies you need to look at not the respective share prices when comparing companies. Redx has announced a deal potentially worth $203m whilst NFXs is worth "just"£51m plus royalties Market cap for Redx is £16m and for NFX is £47m. Possibly there may be more other potential pipeline for NFX compared to Redx but on those figures one would favour buying Redx although of course thats not to say they are both undervalued.