Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
oops my sums may be a little off there - 30% of free cash flow would be more like £3
Maintaining disciplined capital allocation remains a cornerstone of Thungela's strategy and a key enabler of the long-term sustainability of the business. The board is committed to returning additional cash to shareholders above the targeted minimum pay-out ratio of 30% of adjusted operating free cash flow5. With this in mind, the Company expects to declare a final dividend for FY 2022 upon the release of its annual results on or about 27 March 2023.
Net cash at 30 November of R19.8 billion. Even allowing for taxes, royalties and insurance that still leaves plenty of scope to declare a dividend of 30% of free cash flow when the annual results are released in March. A minimum of £5 a share I would suggest.
From EZJ News on LSE:
"Elsewhere in London, Esken soared 11% as it announced a multi-year agreement with easyJet to operate from London Southend Airport.
The aviation and energy infrastructure firm said the agreement allows easyJet to develop its network and capacity at London Southend Airport, including a newly announced route from London Southend to Amsterdam.
Shares in easyJet were down 0.5%."
2 broker buy ratings today - Canaccord SP target 385p and Berenberg 470p
Very reassuring update and much to look forward to in 2023 including strategies in place to deal with electricity price rises.
https://www.lse.co.uk/rns/ATYM/q4-operations-update-and-2023-production-guidance-82763xd1fyj4qpu.html
Agreed Bamps - silence is golden but my eyes still see
culpepper @15.34 - just for clarity on your point about the SP not advancing since August, as I know what a stickler for accuracy you are, the market cap of the company which is surely how we should be looking at GGP, has improved 16% since 25 August.
Agreed. "Q4 2021 Operations Update and 2022 Guidance" last year was dated 13 January 2022. Any day now then....
I also like HAD117W6 reported on 28 October 2021:
"HAD117W6 returned 120.4m @ 10g/t Au & 0.66% Cu from 764.6m. This is the best gram metre intercept drilled to date at Havieron (Au_ppm x intercept length of 1,204 gram metres Au)".
Door4Left even has the t-shirt!
Great memories Bamps thank you. That was 19 November 2018. But do you also recall the RNS that preceded it on 1 October 2018 where GH could barely contain his excitement even though assay results were not yet available:
"Significant mineralisation, visibly similar to that previously intersected in HAD001, has been observed for approximately 239m in the first hole of Greatland's current drilling campaign at Havieron (HAD005);
· Geological inspection has confirmed HAD005 has intersected mineralised brecciated calcareous limestone and sandstone with massive pyrite, chalcopyrite, pyrrhotite and quartz veining, from 458m to 577m (119m) and from 662m to 782m (120m);
· Initial observations from HAD005, in conjunction with earlier results from HAD001, suggest that Havieron may represent a very large mineralised system;
· Drilling of HAD006 has commenced and initial laboratory assay results for HAD005 are expected to be available in approximately six weeks.
While laboratory assay results for HAD005 are not available at this point, and there can be no guarantee that assay results will be similar to those of HAD001, the visible observation of 239m of mineralisation in HAD005 is considered material because it represents a visible mineralised intersection approximately twice the size of that detected in HAD001.
Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased to see significant visible mineralisation in the first hole of this new drill campaign, which further reinforces our view that Havieron has the potential to be a very large mineralised system. Our key priority now is to further test the extent and orientation of the mineralised zone and we look forward to providing further updates as drilling progresses."
https://www.lse.co.uk/rns/GGP/havieron-project-drilling-update-o2rx0or08yy1s6h.html
It's a regulatory requirement- nothing to fret about. 0.05% of all shares is totally insignificant.
Some nice movement yesterday - Allianz offloaded a few on Tuesday which held the shares in check. RNS today shows the movement.
Should push higher now with the strong copper price.
Or there's also:
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Following on from what Bamps was expertly explaining - take a look at slide 20 of the Havieron corporate update from September 2022:
https://greatlandgold.com/wp-content/uploads/2022/09/GGP-Corporate-Update-September.pdf
Thanks as always TT. Interesting that the Superintendent job mentions the decline with particular reference to assisting lateral and vertical development. Contract end date 30 June 2024.
These latest jobs should leave no doubt in investors' minds that we are going mining.
Ross - you have fallen into the biggest trap. Price and Value are not the same thing.
Not sure about Ross, sounds more like Uri, someone who bends the story to suit his agenda.
Yes my condolences Tig. I think you can see from the number of messages on here there are a lot of people thinking of you at this difficult time. Think of us as your Greatland family.
It suits the market to look 12 months in arrears when it wants to. In other more mature shares it is more common for the market to look ahead 12 months or more.
One gets the feeling we are very much under the radar for what is going to happen in the next 12 months. And when the next transformational news drops it will be fun to watch the herd's reaction.
Nice summary Bamps - and right on cue the SP decides to awake from its slumber and advance a fraction.
Merry Christmas everyone - a lot to look forward to in 2023.