Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Full clear out of this entire useless fu***** board is now needed. Not just dodgy liar Esprey but Oliver Stansfield and Roy Pitchford.
Don't you agree David?
Yes Art, which is why I've bought today as well. Never been invested in HE1 but maybe I hope to recover some of my other losses here.
Just add one more thing before I get on with my miserable day (and it is miserable as I look at the significant loss I'm sitting on atm), I've never heard of so much money and resources and time being spent on building a mine and the owner then struggling to sell any of the commodity / product that is mined, be it coal, copper, gold or anything else. This really is a first for me. Maybe something like this has happened before but not that I'm aware of.
Complete and utter destruction in shareholder value about these f****** idiots. Had an offtake with AtoZ which clearly was not genuine and only "existed" to enable the company to raise the £7.5m last year. Now the TransOre offtake looks like its been complete BS as well. And now the company is back to square one with an alleged "world class" asset with coal that nobody is buying. Absolutely hilarious stupidity from these lot. No wonder people have been selling.
They could sign an offtake with the MNC tomorrow for 100,000 tonnes per month. But would the market believe them after all that's happened so far? I don’t think so. The only way we recover imo is if Carl is replaced as CEO with someone more reputable because Carl's reputation is in tatters now and I for one do not believe anything he says.
LOL
On 18 Dec 2023 09:55 I wrote:
"Quite clear to those of us with common sense these idiots are potentially going to release an annoucement via RNS saying "we're pleased to announce we have decided to abandon the offtake with TransOre in favour of a much bigger offtake with the MNC who we can now reveal is XXX"
If this does happen then it'll be crystal clear that the initial sale in August was all b******* and that this board of directors have consistently been lying to us."
Looks like they've decided to get ahead of it instead of waiting to sign the offtake with the MNC. Also it means they've not sold any bloody coal since August, if they did indeed sell any to TransOre to begin with. I sense a lot of lies and deception up to this point. They've certainly not been completely honest with us so far. Will that change going forwards? Hmm.....
"....a new interview with the Company's CEO, Bernard Olivier, by Total Market Solutions"
Because the last interview he did with TMS was so good wasn't it, so why not do another one, eh? Very good evidence this CEO is incapable of learning from his past mistakes. Let's hope the rest of the board have their act together.
The guy in the picture is Jacques Cormack who works for Monaf Investments, the mine operator.
You're probably right. Maybe the ones still holding out hope, myself included, are the actual idiots for believing this board and Groves will not rip us off.
Crystal clear these idiots have absolutely zero idea on how to communicate with the market. Can't communicate, can't keep to timelines, utterly useless.
Hitting all time lows and f****** radio silence from the idiotic board of directors. Where's our dishonest, lying CEO Carl Esprey gone? Does he not want to do another PR interview with the Roast boys and lie to us again?
Quite clear to those of us with common sense these idiots are potentially going to release an annoucement via RNS saying "we're pleased to announce we have decided to abandon the offtake with TransOre in favour of a much bigger offtake with the MNC who we can now reveal is XXX"
If this does happen then it'll be crystal clear that the initial sale in August was all b******* and that this board of directors have consistently been lying to us.
What's happening? As you say, we're all being f****** ripped off (or at least thats what it looks like) and the authorities like the FCA are sat there watching aimlessly and doing absolutely nothing. It wouldn't surprise me if something dodgy happens and we shareholders end up with nothing.
If that does happen, then I for one will retaliate against the entire board. Hopefully it doesn't come to that but I'm not afraid to take matters into my own hands if need be and I'm not afraid to show no mercy. Sick and tired of being ripped off by corrupt CEOs and boards who get away with it because the authorities like the FCA are sat on their fat backsides fast asleep.
Hopefully they get the auction / selling process set up as quickly as possible if they get into production and don't leave it to the last minute like they did with the fund raising. First things first though, get into production, otherwise all this discussion about auctions is pointless.
I don't know what you lot are waffling about. This company and its board have been very, very dishonest with shareholders. We have a CEO who sat in an interview last year and lied about the washplant installation being nearly completed.
We had the AtoZ offtake which was clearly only signed to enable the company to raise the £7.5m because why on earth would you only want one customer (TransOre) instead of two, especially as this is Africa and nothing is ever simple. They supposedly spent months trying to get the TransOre offtake signed and now TransOre haven't even purchased any more of our coal? Did they purchase any to begin with?
We apparently made an initial sale in August but how much was sold, if any was indeed sold? No idea because the company and its board don't think we should know that. Its almost as if the initial sale was all a PR stunt to appease the market after they kept going on and on about making sales for a year. Again another example of this board being dishonest.
The company told us at the end of August that they were pleased to announce they had received final approvals for the export permit. Where did they tell us these final approvals were still outstanding? Does no one think that if the approvals are still outstanding they should have let the market know?
Now they're telling us "look look someone wants to buy our assets!" Just a pathetic attempt to distract shareholders and the market from their utter failure in selling coal. But unfortunately the market is not buying this nonsense anymore. It could be real, but I doubt it.
Until we received concrete numbers, either for sales or for a bid, then this is going no where any time soon.
Yeah you're right. Let's hope the mine is actually restarted and there's nothing out of left field that causes issues.
Don't know about that. These lot got the fund raising completely wrong, what else have they got wrong? Did the CLN at 2p, then did a placing at 2.4p. The CEO then sat in a PR interview telling us all:
"We try to make dilution as little as possible"
"We almost always raise at market price"
"Capital raises are done in a disciplined manner"
"We always try to raise at a higher share price to the previous placement"
"We don't think that is good for shareholders to get unnecessarily diluted"
And then they waited and waited and waited until the share price had fallen below 2p and then decided "yeah now is a good time to do a placing at a 24% discount".
Let's see what these lot actually achieve. Hopefully the share price does a LEX style rise and we hear less nonsense from the CEO.
They're going to have to raise again if they want to fund additional washplants in order to meet the alleged demand for their product. That's why they put out the info about the bid to try and get the SP up and that's why they've posted that post today on X, again to try and get the SP up. Unfortunately the market can see through the utter bull**** and their pathetic attempts to pull the wool over people's eyes. Hence the falling share price.
If something positive does come along and we see 7p,8p, even 10p+, then great, fanastic, hallelujah. But I just don't see it happening, not with the current board in place.
yet again it's bloody **** poor bull**** from this company. honestly one of the worst main market listed companies right now. real dishonesty from the board and zero consideration for shareholders. no wonder the share price keep falling when you have liars like carl esprey in charge.
Calling people idiots is not very nice or respectful is it InvestingGenius? (see the board for Contango Holdings for his posts calling me an idiot). But you don't worry Andy, we all see you fella 😉
What rumours? Back up your statement fella or stop spouting nonsense.
Sausage, it's even worse than that. LSE user and serial ramper InvestingGenius is one of those Twitter names 😆
I'll leave you to figure out which one!