Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Dr R I can assure you I will be selling, most probably with a loss. Just don’t want to sell out of sheer frustration close to low (I did actually buy around 2.2 already and still hold it). As we’ve discussed before exits are a dish best served cold.
I hope I haven’t offended anyone here too much. My beef is with squarely Brad and Louis and any company where the bod are trying to leverage an asset for their own personal gains above the SP.
They need to significantly up their game to even appear a tiny bit credible.
How much has been spent on Brazil?
Don’t tell me….500k ish? Lol
I bet you he does buy another small amount. Won’t change perceptions but allows him to pretend he’s now doing “right thing”.
Who gives a toss now anyway. This pantomime has been fully recognised for what it is.
Things would need to change a lot more dramatically than ceo buying few grands worth for any credibility to return. Important stuff like a new partner, money to build a model, catalyst's happening on time and not being spread over such a long period enthusiasm has drained (again).
To change the perception of this stock being a gravy train they would need to buy proper amounts of stock and they won’t because they gave themselves loads a free bet options where the profit from upside and have no downside as they can simply let them expire or cancel them.
I really really hope this has one more spike in it.
Best change to create value for money is sell on a spike and put the money elsewhere. Preferably a company that values its share price above it’s directors perks and comforts.
If CEO bought a million shares it would only cost him less than 2 months wages but at least it would mop up some loose stock from those placees that want to flip stock and just keep warrants.
If they come out and buy insultingly small amounts again I suggest they don’t bother. Buying more small amounts will make F all difference to how they are perceived counter productive.
Buy a proper share of the mess you have created or just F O back into your holes and keep the AGM abroad and avoid reality.
Sad thing is I reckon he will still go ahead with a few hundred k shares that everyone will ridicule the “poor man” for.
Or to put it another way:
Put yourself in the CEO position
-earning a big salary,
-getting expenses
-ability to print options like bank notes
But
-only owned about 165k shares at the time
What use is a buyout to a CEO who owns less shares than even the smaller PI’s?
Dr R when you say he took on the vanity projects to protect OmI from the majors I don’t follow. That sounds like Brads way of justifying his Long term plan to make a big chunk of cash even if he fails and loses everyone their investment.
Omi was a bid proposition before it diversified. That’s good for SP. The other projects make this unattractive as a bid proposition.
Even old Simon Cawkwell was suggesting he thought Omi was a takeover target min 40p but when the other JV’s were added on it became obvious that nobody would buy the top co. Anymore.
Dr I genuinely thought your post was a good one but do you sincerely believe he added on the extra JV’s to protect OMI? or is this something he told you? If it’s the latter it might be a good idea to stop taking what he tells you at face value. Just like when he told you he expected movement on Anza “quite soon” approx a year ago.
Just saying he’s previously told you stuff which you have been kind enough to share but it’s turned out to be BS.
Karl I’m not sure there was any real or concerted effort to remove the board. Some of us wanted to register protest votes against the payrise, “performance” options.
If they can award themselves generously for the sh@t show they have put on it means they can get away with anything and is wide open for abuse.
If they want funding from an exchange they should not be exploiting loopholes preventing votes from the exchange where they raise.
I would understand the concept of keeping Newmont sweet by letting them control the vote IF Newmont were actually backing OMI. Seems they are not as they didn’t want to move to phase 2 (bigger fish to fry) and didn’t even participate in recent fundraise that valued the WHOLE business at 6-7 million GBP.
It’s not about where the share price is. Most shares are down heavily from 18 months ago.
However in other shares management are usually sharing the pain and have a plan which aligns with their shareholders. Most other companies allow voting from AIM when they raise on AIM.
What even is that? Why aren’t they raising on Tsx if that’s were the voting happens?
Karl have you ever tried voting against their rewards to themselves? Sincere Q
Chicken oF course he means it.
The fact that he’s bought f all in shares in his own company! What’s that? An accident?
I respect your middle ground optimism, and I agree nobody will hold if they don’t believe theY can claw back losses but come on this has been a total car crash and they have feasted on it with payrises, options, expenses.
Yes it could multi bag but that’s because they have crushed sp and sentiment. 6p is multi from here - hardly an endorsement imO.
They have been outed as total clowns, charlatans, lifestylers who were sailing the AIM seas under a fake JV flag and now have a bIg problem on their hands with the cap structure, funding and the outsized dilutive headache they now possess. They bought this entirely on themselves as they weren’t content to steward Anza and protect the balance sheet. No they had other much riskier ideas with other peoples money and now everyone else (other than themselves) is going to pay for it big time.
These lot need boards like this which point out exactly how they are profiteering from their failure and allowing others to pay for their incompetence.
Incompetence is the most generous term I can use too.
Agree Bhargav. I’ve given up hoping for an exit this year. 5p would do it but there’s warrants and won’t be long before another cash call. That’s if we want any drilling action that can actually create value. Not all
of the dirt kicking nil value cashburn that Brad loves so much (it’s long winded and he can fiddle with the narrative and withold results at will).
Until stale bulls clear sentiment towards these individuals will remain and i don’t see the state bulls gate being left open anytime soon
“Sombre mood”
These 2 are experts at sombering moods.
Reality calling and they are trying to subtly lower expectations.
What have they achieved at PDAC? Probably just wasting even more of the now very limited funds.
They either think everyone is gullible or their mantra is “is not what you know it’s what you can prove”
How about they reverse the unwarranted payrise and start taking equity in lieu of cash and fees and share some of mess they have created.
Actually show the market they don’t believe their own equity is rubbish?
Is they too much to ask?
They’ve literally tweeted pens poised and look at the SP movement and volumes.
Apart from Karl (no offence Karl) nobody seems to give a toss about a half solution.
Just getting it back with no finance isn’t much of a catalyst
Seens logical to me that the mood at pdac is sombre specifically towards OMI.
After all the bod’s miserly holdings in their own stock.
What the hell do the expect? Potential Partners climbing over each other in a race to invest in a group of assets that the owners refuse to back with their own money.
Sends completely wrong vibes.
“Please invest in us even though we choose not to!”
If (it’s an gargantuan if too),
They manage to resolve Anza by end April won’t all of the old shareholders ask why after 18 months of delays they sold off 9% of top co. for a pittance literally weeks before the goal was achieved?
Also why is Brad so reluctant to disappoint his major shareholder when same shareholder is no longer participating in the funding?
Why the need to keep it them sweet if they are not helping Omi?
Karl - Sorry if that made me sound arrogant, wasn’t intended or aimed at you, Just annoyed with this total POS and the years of bxxxshxt they have gotten away with.
I agree with everyone saying it is what it is and if people want to buy this who am I to argue. In fact I need people willing to buy so I can get out so good luck those buying down here.
Again apologies for acting like a know it all
(This stock really does bring out the worst in me)
Maybe find a better gold play Karl? It won’t be difficult just need one with a bod who don’t lie to their holders, are willing to invest alongside their holders and has a narrative that’s not riddled with contradiction. Also try and pick one that’s able to drill without another dilution.
Totally agree with you about the precious metals, find a stock that’s a fair bet.
Not one that is run purely for the financial benefit of its directors at the shareholders costs.