Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
BTC i wasn't suggesting GGP over Andromeda as a JV partner. I was merely pointing out that Andromeda are not a major. GGP rocketed because they had a JV with Newcrest who are a major. Yes the appetite for junior miners is cyclical but when will it return? Shares like OMI and GGP are 70% down from highs.
Someone else previously posted that Cobr can only raise 25% of their mcap which is now a raise of less than £1M. Andromeda in a JV would match that but how far and fast does less than £2M quid go?
Many Junior Miners are being shafted just now and have been for quite some time, it's not just here. Good grade results occasionally give a temporary lift but nothing lasting. What will lift the sp here? More dilution is coming with 30m extra shares to be issued to the project vendors to reach 75% ownership. This should trigger a JV with Andromeda (who btw have a lower mcap than GGP, so not a major) who will invest as much as Cobr for future exploration. Cobr have nothing to invest for that just now and will therefore have to raise presumably at a discount.
Yes the mcap is low for what is potentially in the ground but all Junior Miners say that.
Katie's a babe for sure.
Surprised that there is no mention of Cobr on the Andromeda web site. Maybe waiting for the JV announcement.
Cobr fully funded for the exploration expenditure to trigger the 75% earn in and JV but will presumably have to raise at this point to finance the JV, hopefully at a much higher price than today with excellent drill results.
From the Cobr web site - 'Once the Wudinna JV Co is formed, LAM and Andromeda will contribute to further expenditure in accordance with their respective equity positions'
In the half year results posted in an RNS 21 Sep 2021 it stated 'As at 30 June 2021, the Company had available cash of £1.12m (30 June 2020: £627,696), sufficient for the Company to execute its planned exploration activities.'
And after that? Obviously further funding will be required. If the results are good as expected then maybe a JV with Andromeda or a placing at a higher sp than today? Thoughts please.
Absolutely right, be so easy to do but transparency is the last thing MM's want.
A sea of red now, some large and some small sells. Not a buy reported for well over an hour. Surprised the sp has held up so well, maybe they are filling a large buyorder, but it can't last. When the buying stops the sp will eventually fall as the selling never seems to stop.
Placing shares can so often be a drag on any sp rise and i don't buy into the HNWI are invested here for the long term theory. They get rich by being ruthless and unemotional and will take quick profits when they can. The original HNWI is already about 1.5M quid in profit. Decent money to make in 5 months.
Explains the new broker which kills the ridiculous unneeded placing rumours.
The trading today is unfathomable. Since the sp dipped below 20p the big sells stopped and in fact very few trades at all. Today we have 2 what i would term neutral RNS' that have triggered relatively tons of trades and plenty of big sells. Somebody out there know something we don't or is it just impatience or the demerger uncertainty?
In a podcast a while back Vincent was dismayed the sp was trading around the 24p mark, so undervalued he said. Wonder what he is thinking now? Hope he has some news for us soon. Has to bounce off these ridiculously low levels right?
Why would they need more money now? The lithium project is fully funded to production and they have A$19.1m in the bank for the gold exploration.
The new broker relevant to the demerger?
Lol what is there to discuss? Good on News for all his time and effort in writing such long posts and take a bow all those who purport to understand him. Obviously the limitations are all mine and if i can stay awake long enough to get to the end of his posts then maybe they would make more sense even to me.
Meanwhile back in the real world the sell price is still above 20 at 20.26 despite the Bid stating 19.55. Second time today they dropped the Bid needlessly. Fishing for shares maybe or MM's just bored?
Bad day for the global markets so holding up ok so far.
I do indeed Mike but i find News' long winded epistles to be inarticulate unclear ramblings presented at random as they pop into his head. Hence my request for something more cogent and brief.
I'm guessing you're a fan of James Joyce?
Yawn, you do ramble on!
Any chance of a one paragraph brief and concise summary of where you think the sp is heading?