Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
i am also great supporter of Dick's analytical skills. in addition to his summaries it has not been mentioned recently that GBA is surrounded by two major Chinese parastatals, Sinopec and CNOOC. For them $1billion is chicken feed and there is huge attraction given they are already there, know the territory and the risks. i have mentioned this to Andrew and he grinned. say no more. chins up one and all!
one or two posters have asked for my opinion... fundamentally i agree with Dick in the sense that the last two weeks have seen the ball dropped but the fundamentals are still there. in business management one of the key policies is "no surprises" and we have seen a few recently . if these things had been mentioned more clearly in the last update i don't think heads would have dropped. nevertheless we are still on track for a decent farm out in the next few months. i have neither bought or sold in the last 3 months
Dick, firstly may i offer my support to your recovery. as the elder statesman on this blog your views are appreciated and, speaking for myself , highly respected. assuming you mean me , as major investor, then no i have not been consulted and to be honest i am not sure that i should be. AB and i do speak now and again . i have already given my views on JOG in the past but in summary , i am a long term shareholder, and i am pleased with the strategic direction and the quality of the management. it is difficult on these blogs to be even handed as there are always newcomers who understandably can ask silly questions but i think we should be sympathetic and welcome them to the club.
if there is any good news in this bloodbath it is that shortly Bab**** will have a new CEO and FD. they will know what their priorities are and know they have to turn things round fast blaming the previous regime. the company has been living off past glory and now needs to knuckle down especially on cost
Hi Ajax62. you are correct and now between my son and i we have around 5% of JOG. that is our level of confidence. you will not see it on the JOG webpage it is buried in Halifax etc. i have just been notified the purchase went through at £1.59. slightly surprised MM found some shares to sell so quickly. but no matter it does not change my long term views
agree that given the direction of the oil price this is going to improve confidence in JOG. at this stage it does not really matter whether it pans out at £10/£20/£40 per share. the point is any of those is a huge increase in the current price. i have just put in an order to buy another £150k. that should keep it going up
i think the issue is psychological. we all agree that the shares are seriously undervalued - maybe by x40. but virtually nothing is going to happen in the next 4 months . so there are many big shots who can make say 20% elsewhere and then return when things get tasty. that is why when the buying starts there is panic to catch the bus. for those who have patience this has to be a one way street
mjga786, you ask why no more posts from me- simple , i said that over that week i had invested £450k and would now wait at least until the spring. so i have nothing more to say. the only reason i was being specific was that i considered it would add some credibility to the blog. have a good christmas
mjga786. yes thanks your comments. i recently decided that JOG had drifted too low for no clear reason. no good or bad news. so it was time to enter during a low period. in my view anything under 175 is too low so you may see some more . you will know it is me as they will be at 99.9k. i am going for the longer term ie at least into the spring of next year . i am much influenced by simon thompson comments in the IC. specifically in mid october.
sorry to disillusion everyone, i made the large buy today (and yesterday). firstly i am no more in the know than any average punter. i am not having any contact with any expert. i did it because i think the SP has dropped far enough and although i agree there is a chance the capital cost will be too much i am sure that JOG will know when to sell out long before that. the huge NAV is well worth waiting for