Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Thanks, MoneyMetal. This perfectly aligns with what I heard at the shareholder's meeting. It's interesting that he said the bench test was six days in because that's what he told me on Friday. But it's good to hear that things are progressing very well and very quickly, which is great news. Perhaps we will get an early RNS on this for a change. And on that note, where are those Boland Stage 2 re-analysis results!
My understanding is that no more funding is required for the next phase of drilling. This is now all covered by the November raise and the recent April raise. I got the sense they are really trying to ramp up the marketing to get the share price to 2p, which unlocks plenty of cash through the warrants.
Yes, MRE around Oct-24 but I guess this might slip a few months as they usually do.
Yes, they said the 121 had been very useful and they had a good level of interest, but they didn't elaborate further.
Ok, I have a few minutes to get my thoughts down.
I spent well over an hour talking directly to Rupert and David. These two really nice guys came across as very personable and knowledgeable. I also found them very engaging and, above all, highly enthusiastic about the company and its future.
It has made me want to invest more in the company, and I will do that as soon as an opportunity presents itself.
RichyRich1, I asked them your questions below and received a comprehensive answer. In summary, Cobra does have aspirations to become a mining producer, and that is what they are shooting for. However, they are mindful that an impressive offer at the right time or a hostile takeover are always possibilities that they need to consider for best shareholder value. They made it clear that they want to take the REE out of the ground themselves in a perfect world. I even met a nice chap from a huge company they have lined up to sell the REE in the market place (see, they really are playing the long game).
But, there is a lot to do before that can happen. The next step is to get the re-assay results back so that they can validate their model further and then mobilise a massive drilling campaign at Boland so that it can maximise the MRE towards the end of the year. In parallel, and for me, this is the most important step; they need to complete the ISR lab tests, which are underway and should be available by the end of June. If the leaching result are better than 50% then we have a commercially viable mining prospect and Boland only needs to have 100mTonnes for a working mine to be profitable (I know they are confident they are sitting on hundreds more).
Next, they need at least 12 months of aquifer measurements at the wellfield site before they will be given approval to undertake the pilot study. Then, they need to analyse those results (during which time there is obviously more drilling). So, by my reckoning, that takes us to mid-2025. So maybe 12 months after that, we are mining REE, and Cobra is 20p per share (based on only 100mT and a 10 year mine life).
Obviously, it's not financial advice, and please DYOR.
That was very kind of you, DartFrog. It was great to meet you, too. You are such a nice guy, and I concur with everything you said about the meeting. I have a few things to add that may be of interest, and when I have a little more time, I will put them on this forum.
Yes, there is a mining conference in London on Wed/Thur - I'm sure they are here talking to investors/potential investors. I intend to go to the meeting on Friday. It sounds like a good opportunity to chat with RV and DC.