Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
The Company’s view of shareholders was clear from the AGM. The BoD all thought they were doing a great job, worth more than they were getting paid and could all walk away and get a more highly paid job tomorrow!
Refusal to answer direct questions on salary was condescending and arrogant, even disingenuous when they all knew the LTIP that was going to drop 2 days later.
With very few shares in their direct ownership doubt they’d even have much incentive to fight for a decent takeover price should an offer be made.
Defeat snatched from the jaws of victory.
I think you’re onto something with the hypnotist.
He could persuade all BoD members that a salary of £1 and some share options at 10p is a good idea.
He could do all the investment seminars.
Could get us cheap loans.
Why don’t all companies have a hypnotist on the Board????
Doubt we'll ever get the full strategy but it seems they aren't just buying to get back shares below a certain price (in £ or $).
Looks more like buying to maintain an upward share price movement. If it stalls or falls buy in and if it's moving upwards hold off for a while and let the market do it's thing.
Nth, thanks for that.
Their view seems to match the views of most of us investors that all is going well but SP temporarily reflects a lack of understanding of business model, accounts and the strategic decisions of some funds to exit oil, gas and tobacco stocks.
Averaging down seems to be the right move for DEC believers at present.
VH. So you’re saying we should stop being factual and just view everything through your rose tinted glasses?
Andii tried that for years - didn’t pan out so well.
Highlighting EQT mistakes and errors might eventually lead to a better company, blind optimism will just perpetuate the situation.
Bu all means live in ignorance but don’t encourage others to join you.
For those who listened closely at the AGM, one board member, when pushed, said the company should be profitable in 2 years (no-one ever mentioned one) assuming finance and macro economics were in our favour.
Lots of comments on here subject to very optimistic interpretation of very optimistic messaging from EQT.
It might be a good story but not for a few years yet.
Assuming everything is still going ahead iaw the DEC strategy all they can do is keep up the news flow.
Provide forward dividend guidance (even just to confirm next few quarterlies will be the same.
Update on reserves perhaps.
Update on daily production and likely half yearly sales volumes.
Update on capping rates and costs.
Good comms with big investors (as per today’s NU event).
Personally I’d rather they didn’t do buybacks but doing it at this price better than at above £1.
Unless we’re all missing something the market isn’t! Hopefully not.
Can’t argue with your logic. Let’s just hope the rest of the market see it the same and pile in.
No signs of that yet though. We need a news “leak.”
Not sure how a non Italian speaker can conduct exit interviews on leaving personnel to establish their reasons for leaving! Also not sure personnel would be leaving because the equipment they are going to run is temporarily not available. Sit and watch rectification on full pay sounds like a much better option to me.
Several buys below £5 this morning - Directors topping up following yesterday's criticism perhaps?
C909 - I think they have finally got that point and are employing an agency to enhance their social media presence / news flow.
They just need some good news to promulgate now. But it needs to be actual news, not just unnamed banks, partners who don’t spend any money, missed deadlines or optimistic speculation.
Fingers crossed!
I do enjoy a Rachel response to Char’s repeated lunacy and nonsense.
However, I do feel he should be congratulated for correctly having one capital letter after a full stop. His scribbled rants at least had one grammatically correct portion - shame he lapsed back into old ways.
For those of you who question our mocking - his bold predictions that Shell is as crap as Vodaphone and will never, ever get back to £15 still raise a smile.
Xophe - he didn’t say they’d be in profit in 2 years. He said he thought they’d be profitable in 2 years or so assuming suitable partners and market conditions.
Not the same thing at all -with wriggle room built in for failure to meet.
No failures were EQT’s fault! It was all market conditions, tightening finance, poor partners (well who chose them) and Italy’s inability to recruit suitable staff to allow handover.
Are you at the same meeting?
He said there may well be a strategic reason to consolidate (some institutions won't buy shares at less than a penny) and a raise at this price unlikely.
He never said either of the things you just quoted.