Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Agree Rob but there’s about 6 months cash runway tops so although big companies move slowly (as ceo loves to remind us) OMI can’t afford to move slowly anymore
The OMI cap structure can’t afford the luxury of this dragging on for very much longer.
I agree with your previous post that around 6p a fundraising might not be disastrous for long termers but if I was a long termer I’d only want to see 50 million at that sort of valuation. 100 million at 6 would be too big a dilutive peg in the ground. Why not raise least you can get away with on such a poor mcap?
If he did 100 million then a mcap of 30 million is still only around 10p per share…
Think “the market” is fed up of extending benefit of doubt here.
Sp action was much more bullish before the last rns and webinar which I thought were positive but also told market that a quick resolution is unlikely (we will update the market about the process, implies milestones first).
2 cliches sum this up for me
Time is money
Put up or shut up.
Still feeling cautiously optimistic but can understand the lack of volume from us all. Once bitten twice shy, how many times have we been bitten with false guidance?
The optimist in me wants to believe they will resolve this soon and put value back in.
The cynic/realist in me is concerned the resolution will take too long to avoid imminent pressure on b/s.
The equity needs a little room to breathe, will be very disappointing if the balance sheet is running on fumes by the time they get this over the line. Fingers crossed still
Loss making Co’s can pay a “special” div, for example Nanoco has been loss making for years but is going to redistribute cash from litigation by way of special div.
Although I have to say I don’t think that will happen here. 15 million doesn’t go that far for drilling and surely better just not to dilute to explore?
Have to admit I didn’t buy this for copper exposure and I can understand why some of bailed on sale of Manica.
I just see upside on 9 million mcap with 15 million sale being arranged plus the licenses must carry some value even if you just say 2 million each.
It’s a shame the sale is spread until 2027 does make it harder to value. On the flip side though sentiment is dead on copper explorers right now (Pxc, Solg, Ars to name a few others on their ass) so maybe better that there are future catalysts in what I can only hope will be more positive copper environment.
And even though I didn’t really want a pure copper play I like Friedlanders comments on this belt.
Good luck all, still can’t call the bottom but it wouldn’t surprise me if we are extremely close or already arrived
Thought yday news would have done more for SP. In fact I think it’s worth more to the SP.
If it wants to play silly buggers and drop from here I’ll increase position.
Gla, especially those that have been underwater for far too long and suffering bod BS, I know how that feels.
But it was also first time they officially talked of getting 100% back which raises a whole lot of questions.
Guess we will find out by April latest.
I’m holding what I have and still hoping for 6-7p
Good luck those buying this level too
Also fair points too Chicken and I really hope there is a creative structure and not hundreds of millions of shares being placed with TP (who would request wts imo).
I’m probably deluding myself but I hope they have another partner on standby for Anza to fill the void or that the existing partners are willing to fund exploration in return for some sort of first refusal option.
Very very difficult for to have any confidence in bod’s ability to pull all this off without any info from Bod as to how this can be done.
I’ll be reluctantly watching next webinar for sure
I just don’t see this as will they/won’t they get Anza back?
The market knows they are getting it back but concerned about how.
Bigger question imo is will they dilute to smithereens to get it back?
Why did market react badly to yday rns? Uncertainty surrounding the Balance sheet reality with the bod’s intentions.
Rns can he and has been wrong.
Do you remember the rns with Louis saying he was delighted about their decision to live to phase 2 and that he looked forward to accelerated exploration activities.
That rns was plain wrong and extremely extremely misleading to market .
Don’t know how he’s got away with that
Dr I remember you saying that he suggested Omi would be leading exploration on MMA’s money. I really don’t think that’s going to happen.
Guess we will find out soon enough. This looks snookered to me but then maybe I’m not imaginative enough
They have not been able to provide a sensible explanation of why they accepted 2 million if the JV was invalid (as they claim)
Why didn’t they use the invalidity to the advantage of Omi holders and refuse the 2 million without terms?
After all the JV was invalid wasn’t it?
Holding AGM on a different continent to the majority of their shareholders. Hiding from Q’s that they have no plausible explanation for
End of October they had 2.35 million in the bank. Based on usual cash burn it seems v unlikely they are able to give mma back 2 million.
I come back to the fact they need another partner on standby so they can afford to get it back or it’s confetti.
These f@cking bod guys, just have no real interest in SP. They’ve done a masterclass in how to depress your SP and literally your shareholders.
Clowns, total clowns. Only interested in keeping the gravy train going
Does Omi even have 2 million in the bank to return?
These other JV’s were only ever to justify the CEO’s payrise and to keep him the seat for years. Millions has probably been spent on them, millions which would have provided room for negotiation and less balance sheet uncertainty.
It’s not like we are being wise with hindsight as many of us said it was a terrible strategy at the time on this very same site.