Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
to holders here.... Shadow chancellor says company should be de-listed, which was published after trading hours http://www.bbc.co.uk/news/business-44256552 it's Interesting to see how it opens on Tuesday. Amnesty International said this week that police had "many questions to answer" and "those responsible should be brought to justice". It's not only loss of the plant but human rights commission is going to investigate in this issue and if connection is proven then company would have to pay a lot for it. Another Interesting article states how company bypass rules by bribing politicians https://thewire.in/environment/how-modi-government-helped-vedantas-sterlite-plant-bypass-environmental-norms DYOR...Happy investing...
@TheMega1: I am a silent reader in the investment forum and I don't post often. However this one disturbed me a lot. I don't want to be part of a company (as a shareholder ) which bribes and kills people just for profit. I did further research last night and found this article from Reuters https://www.reuters.com/article/us-vedanta-protests-agarwal-analysis/deadly-protests-land-a-blow-to-indian-resources-magnate-agarwals-ambitions-idUSKCN1IO2IL it appears they always had environmental issues(many palces in India, Africa etc).i.e they don't follow any environmental guidelines it seems.... I also read in another article that states that many people in Tuticorin are affected by Cancer and other severe health issues, because of the pollution caused by this plant. Hence people are protesting it heavily. I am investing in stocks to make money but not on corpse of innocent people. I believe I can find better companies out there with good corporate governance https://uk.reuters.com/article/us-vedanta-smelter/indian-state-seeks-permanent-closure-of-vedantas-copper-smelter-officials-idUKKCN1IP1CX Anyhow as per today's RNS the plant is been shutted down, I don't think Indian govt will support to reopen it as general election will be next year unless Vedanda operates without approval (illegally) as mentioned in the last paragraph of Reuters. So for me neither economically nor ethically good place to invest ....DYOR.
Yes, It seems company bribed indian politicans and killed lead protestors as per indian media...So bad to see police is killing people with sniper Gun...loads of youtube vidoes https://www.youtube.com/watch?v=tawuza7RCVc https://www.youtube.com/watch?v=hSehY3X4YD8 I dont see how this company survives with all human violation and corruption practices.
Are we expecting annual report this or next week? No news from BOD for nearly 5 months
Yes I agree even with lowest valution this is trading way under cash
SEA7, can u explain how you have reached £6.3 m cash in bank. my understanding is they had $10.1mi cash in bank + They collected $4.4mill after reporting period in Nov. so I think AEY has $14.5mill cash in hand.which is £10.16mill.Is nt it correct? if yes then they are trading around 25% of the cash value. Sometime doing nothing and being patience is the way to create wealth and Board is doing the same. For me board looks very clever( I never thought i will say this anyhow :-) ) Compared to last year Jan, now AEY is in very very good position with 100% kosmos(hopefully), no decommission obligation, reduced overhead and no price impact on oil price for near term(2 years) :-). Only threat is we AEY may be prey for cash hungry firms. Any views?
@ crudhope: hilarious comment lol ...
Cool. At least a news we can look for ..lol. One thing we need to appreciate BOD, they made a brilliant move of selling assets last year and settled loan. If not done, company would have gone bust by now with the current oil price environment...Looking at the history, they were able to survive around 20 years in the tough industry, so they are clever in way...lol
FYNE and ERNE they themselves written it down and now they have the obligation to decommission it by spending $5million. .ERNE license is expired as well. At the moment only Skelling is the hope and directors has nothing to do in this but enjoy with the rest o the money by spending 800k per qtr...Seems nothing is going to happen for the rest of the year.. I agree with Moleinahole, they missed a great opportunity came from SOU
simply put the wording In rns, no work been done in the last qtr. Spend around 800k but gained 1.2 million as a forex hence reported around 500k gain... Is it correct?
Seems someone is accumulating in big volume and I think many buy are reported as sell.. Any idea
spike, Well, my understanding is that they are not going to make any big drilling till oil price recovers. so no capital expense in drilling perspective. if they drill then that will satisfy Apollo covenant. if not, do u believe Apollo is going to enforce the covenant/note... I don't think so. but I don't like the Yorkville notes too. But I believe all this already priced in sp
Apollo note debt is due only in 2017..IMO this is a long period for an AIM company..Also economy is improving in us and uk, so refinancing should not be an issue, if required later..imo, there is no immediate default risk as you mentioned
Thats much point really. Nothing much changed but oil price. But oil price is re-rated lot but not this share. IMO, It wont stay at this price for long. The key points from 1st qtr results are, "The average combined price received by Caza in Q1 2015 decreased 45% to US$40.81 per Boe compared to US$74.45 per Boe in Q1 2014." => Now the oil recovered around to $60/bl "Caza had a cash and cash equivalents balance of US$6,046,098 as of March 31, 2015, as compared to US$5,060,943 at December 31, 2014."= > No placing required in near future "While we have taken the prudent decision to cut back on capital expenditures during this time of low oil prices, many of the Company's Bone Spring properties could deliver acceptable rates of return at current price levels, and we expect to drill one Bone Spring obligation well this year and possibly several development wells later in the year assuming prices continue to rise or maintain the current improved levels." => Current price is sustainable and profitable for the company
It's all time low with producing assets. Now oil price recovered to $67/ bl but I am surprised it's going down. In the latest results they made good progress , though their results are bit poor . But that's understandable. Imo, if anyone ready to park their money for 6-12 months minimum, then it will give good return.