Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
NSF also has loads of cash in the bank too, over £50m. The problem is, as with amgo, it's not the companies cash, it's the lenders cash and the lenders do not want to see the company holding its cash in a bank account, it wants to see that money invested in the loanbook.
The cash balance mean nothing if it doesn't outweigh the debt.
Lol why keep bringing NSF up? I made a profit on NSF, you lot are all still heavily underwater with amgo. Clutching at straws much?
The only way amgo will survive is with a massive equity raise, much like nsf.
Gla
Ha! I wouldn't have shares in amgo if they were free.
It doesn't matter who's steering this ship, it's already hit the iceberg.
It's all to little to late. I expect an equity raise here at somepoint.
Dyor
The loan book is being decimated every single day due to write downs from compensation payouts in lieu of complaint payments. The loan book is in a much worse state than the market thinks.
Good news about Mr Basketball though, hopefully the company will hire someone competent next time?
It's £40m fund raising not £20M
Ouch
£150M + £124M = £274m
By my calculations total complaint payouts will end up costing the company £274M.
Gla
There is no reward. Its all risk from here on in.
Gla
I predict within 3 months the £150m provision will be increased to £200m.
Then its goodnight Vienna
Can see this going to 3p in the next few weeks. The banking facility is crucial here, without it AMGO are toast.
If anyone's interested, have a look at AGFX.
Hey guys how we all doing?
Wouldn't be so sure the facility will be extended. This is a bigger threat to the company than the complaints at this stage. AMGO could potentially be wound up within weeks.
The RNS may be honest (about time the directors were honest with the owners), but it also shows the BoD don't fully understand the magnitude of the issues the company faces.
Why would I want anyone to lose their money? Think you will find I'm the only honest person on here my friend. Had you all been listening to me you would have saved money not lost it.
This really should be priced to go bust now.
Oh dear, not looking good is it Amigos...
I like how they didn't complete the vreq on time but they're still pretending they did.
Tick Tock
Oh dear its going from bad to worse. The new lock down means no chance of lending in 2020. The company's lender is going to pull the plug in December now.
4p on Monday
You know I'm starting to think NSF may actually be a better investment than AMGO.