Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Thanks DJ, actually sitting in Shrewsbury Hospital for a follow up assessment at the moment. Think we may have been born 30 years too early for the wonderful treatments that seem to come along each year, though I think it begs the question whether such treatments will be readily available to all in society due to the expense. As usual the rich will be the only ones to benefit!
So as I see it Cyprus expenditure by AAU to date is (0.6m + 2.4m) euros which gave a 50% farm in plus a further £0.7mloan that was converted to equity to give a total of 58% interest for a total.of around £(3m x 0.86 + 700k) = £3.28m.
£3m is buying an equity stake that reduces AAU from 58% to 35%, which impliest
the money is buying 39.66% of the total equity,.so AAUs shares are arguably worth 35/39.66 × 3m = 2.647 m (compared to about £3.28 invested). Please correct me if wrong
Call me naive but if this is an attractive company why are we surprised that someone with an option in it has exercised? Whether the option should have existed is another matter, but I would have thought non exercise would bring iits viability into question.
My comment was treated with derision when I suggested that the IPO was possibly an exit strategy by the founders while the EV euphoria was high. To me that is now proved. In just 18 odd months the IPO price is history, the ceo has legged it to be replaced with an regurgitated auto industry journeyman. This looks pretty appalling for us.
Guy in my ward had the same as you, was thoroughly fed up!
Yes it's hopefulely headed for the higher 2's. With Tavsan staying on schedule we would surely get a boost, and maybe the long awaited small divi given the mine life there.
Hi LoB
The recent news, and PoG, has been encouraging and I look forward with more confidence. Tbh I was hoping for the Venus IPO to be abandoned and a full takeover to be mounted, but I realised some time agio that the latter was not going to happen. An IPO is a good second best and allows progress to be made, and when I can be bothered to look out the RNSs I want to work out how the equity given up compared to 'AAUs share' of the £3m being attracted (I know that is an investment into the business not a distribution to AAU and the other Venus shareholders). I hope that will show a positive return. Maybe you can check my figures when I collate?
Foxy
Chris Gilbert said. You should be doing stand up in the Edinburgh fringe! Doubt that anyone really takes anything he says without a gritting lorry full of salt. So far all he has done is mislead, pay himself and his mates fat salaries and lose AIM PI investors lots of cash.
Radika
I looked up Dentons, apparently they are (depending on how you measure it) are the largest firm of lawyers in the world. They haven't got a few clients, they have many thousands. Don't read too much into them taking the case - clearly they wouldn't have done on a no win, no fee basis if it was a no hoper, but they play the percentages I expect. Some they win, some they lose. If they win the % share of the spoils would probably make your toes curl. If you have preference shares the aren't, as far as I understand it, currently marketable, so if you sell ECOB the preference shares they will remain in your possession as I understand it (happy to be corrected). Or put it another way, if ECOB never gets listed and it turns out we have been scammed (again) then there is always the hope that the preference shares will compensate!
Well someone still likes ZNWD, seemed bounce of 9p quite well.
Unvrkw
Based on absolutely nothing my wetted finger in the air estimate is £25m, hopefully after Dentons fees. The 195m euro claim is a bit like the junior doctors demands of 35%. They know they wont get it, so go high and settle lower. With the Kosovan claim not only are you dealing with a government who may well say b*gger off but they can also question how they can justify such a large claim for damages when Fox never made anyone (except for the directors) a brass farthing in profit in its entire existence. The latter is quite a compelling argument. It may also depend to an extent on Kosovan politics. if they want to smooze up to us and say what a fab place and welcoming to business Kosovo is than we may be in with a shout. I expect Dentons will take a fair percentage if successful!
Joe, as I have said recently my 'investment' here is more like a punt on an outsider in the 2.30 at Haydock. I though I had lost my previous punt with Fox (in fact didn't notice it had been relisted for over a week), so sold when I could and got my money back with a small profit......then being me couldn't resist getting back in several days later with (I think) the very last recorded FOX deal (10000 shares for 1400 quid at 16.29 on 1st June). if it works, it works, if not then the bet failed! ECOB has been a bit bizarre to date.
Sorry to sound flippant for those who take this sihtshow more seriously, but Gilbert was a well meaning buffoon so I hope the ECOB board is significantly more impressive. The compensation claim may yet provide a smile and maybe the prefabs with all the marble in will too! if it works lets all have a party, I'm up for it.
...... it's been suspended for longer than it was listed!