Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Mcf - It is confusing. Jimmy has it right. - the "m" does not stand for million, it is the Roman Numeral for 1,000. So ONE mcf is One Thousand Cubic Feet.
https://corporatefinanceinstitute.com/resources/valuation/measuring-natural-gas-mcf/
A Billion Cubic Feet (1bcf) is a Thousand Million Cubic Feet or a Million Thousand (same thing). ie as Jimmy says "1 Million mcf"
We had some bad stuff yesterday which I believe is the first time since I've been here (5 years). It told us that one of the licences we got for nowt is worth nowt. We have others, also costing nowt, apart from the drilling costs which came from a raise of around £12m. So we lost probably less than £3m there. Duncan is keen to get on with the next drill asap which we should know about in 2/3 weeks. If that fails we lose another £3m. That's £6m max. out of a possible total worth of the Company of say 40p x a billion shares = £400,000,000. ie 1.5% loss in value. If the rest of the free on-shore is made up of dusters we only have Anchois plus the other pillars which is what we had before we were given the on-shore for free.
So Mr. Riskybusiness55 we are not toast, we are possible months away from finding out whether Anchois can support the average 40p valuations by the "experts" or if the experts have made some serious errors of judgement. We may find out if there is some manipulation of the sp for whatever reason - stake-building to enable a low bid for the lot perhaps.
Yesterday's news and further drop in sp wasn't exactly earth shattering but there are developing some serious differences of opinion on here which I think are due to understandable anxiousness about possible big? personal losses.
I have a lot of exposure, I think more than one or two directors, but without knowing fully what is going on I think it wise not to let emotions get in the way. I think we are in better shape than when the sp was 20p as we appear to be sat on a wealth of assets. More patience needed unless of course anyone has put in more than they can afford to lose and it is needed short term. That's rule No. 1 broken and I hope not too many of those here.
I bought some more today and I'm holding. Good Luck!
Gardie, for someone who lives next door to and plays tennis with the Technical Director I am surprised that you say "the list of big shareholders now tops 60% (60.87) " which seems way off the mark. So therefore I find it difficult to believe that Duncan Wallace is your neighbour even though I would like to!
Thebold - seen it all b4. BOD can say what they want. The cleaner could have offered 2p a share and AP wouldn't be lying to say there was an offer he turned down. There may have been or may not have been, but AP knows more than he is letting on. He controls about 9% and he could be part of a consortium bid when various others have picked up enough, hoping to go for a buy-out at
GP Most, if not all contributors on here, I imagine are Char shareholders. Some are optimists, some pessimists and some in between. Also some who seem to change with the wind. Anyone who thinks any reward is many years off probably shouldn't be here and should sell up. I've been here 5 years and probably like most others, had I thought the sp would be 9p today when I first invested, I wouldn't have bothered. Some appear to have been attached for 10 years which is unfortunate and even sad. 5 Years ago I bought at 4p, then 5p 7p 16p 19p (Apr 2022) - average now 11pence. I have quite a lot. 100s of ,000s .... all looking good still and I expected to be seeing 30p by Dec 2023. Lots of progress has been made since April 2022 so the sp has reflected that, rocketing to 9pence!
I can't complain to anyone as don't know if anyone is to blame, but we are sitting on value far greater than 9p and my glass is half full. I did send an email to A.P. demanding an update some months ago and we got one which did nothing to the sp! I keep pretending that my shares are equivalent to cash in the bank NOW worth 4 or 5 times what I paid.
I am sure they will be eventually, whether that is in 2 more years or sooner (especially if there is a T/O. )
This is a very useful platform for information and views, which, had they all been negative, I would have gone a long time ago. I don't want stupid ramping untruths but optimistic views I am sure are healthy.
When these shares get to about 25p I will be selling some and then make it up as I go along.
I'm sure we are now getting very close to something good! Things are coming together and the current sp is f - - - - - g ridiculous.
Morocco's where the Gas should be
so everybody says
We'll soon be under a money tree
In Months or even days
Malcy Malcy we hope you're right
With what you say today
Chariot shares will soon shine bright
and blow the pain away.