Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Also, last week he mentioned that negotiations were still progressing whilst we wait for the news from the bank
It was from Jason Brewer. I asked him about VMR`S share allotment last week and he said that they were waiting for the SA Federal Bank, no problems, just slow. This morning I asked him if there was a corporate update this week and he replied that there is one out tomorrow morning. He is very good at replying to emails
We will have this tomorrow morning as per email from company.
I agree with the imeline. Mashala share transfer is expected and VMR share allocation is added on the 29th subject to approval. Then they will know how many extra to buy in the market and closer to this time, the private clients, if any have been impressed by the presentations, will come onboard. Then all hell will be let loose with JV, offtakes and sale of non-core assets pushing VMR into profit and ending just above 7p so the board get paid. Well, that`s the plan anyway.
Thanks CP01. I have looked at the slides and have found it very informative. Noticed the £65k buy delayed from last week also, probably VMR topping up. Hitman-As for the delays, the company did say on Feb 28th that negotiations were continuing. I spooke to JB some weeks ago and he did say that these negotiations cannot and will not be rushed. Our potential partners are all Indian and it is in their nature to delay things and drag things out. JB did say that it was highly competeitive though and this was an advantage. It is in the companies` interest to get things sorted as soon as possible. I am not worried about a few weeks delay as I want the best deal possible.
Thanks Trrime
Welcome CP01. Did the company mention any other presentations this month or their whereabouts? I emailed Jason Brewer last week and never got a reply. London is too far for me and its not cheap getting there. I attended an AGM before Christmas for another company in London and a day out cost around £230! Did the company come across well? How are the strategic partner searches progressing? Will we hear anything soon? I get the feeling we will have to wait until VMR shares are allocated to the market before we get any further updates. Jason Brewer has always been prompt to reply in the past.
I think we have different buyers for the non-core assets, spread over the coming months
Had an email from the company a couple of days back which said they were looking to get news out ASAP. There are three transactions to be completed over the short term, this trading halt is probably the first. It will be to do with a sale of the non-core assets as it is obvious that we are having to vote on the investor buy in in a couple of weeks. Mashala and Vanmag was mentioned but it is done and dusted and is not the reason for the halt as it was already reported to the market. The interesting thing here is that only 7 million shares were traded today, when the shares rose to 5.5p some weeks back the daily volume was 20 million. The company is very prompt at getting back to emails, you only need to ask nicely
Known to be a sc um bag. Needs taking down a dark alley.
The company has had several offers on the table, they are interested in the mines and coal not the management. Any offers will be accepted and brush aside these connections. Here`s to 16p a share!
Hi Guys I had TWO emails from Jason Brewer this morning. The first one said: "In JoBurg for the rest of this month, updates will be provided to shareholders on the various matters in question" There was a bit of a misunderstanding as I think he got MSKA and M1SAK mixed up, he apologized in the second email and added: "Aiming to get things done as soon as possible" I think discussions are still ongoing but the main thing is we are now seeing some upward movement and more buys than sells. Good Luck All
in Australia last night with 6 million shares traded.
Go to bed, only four more sleeps until Santa comes.
I think with the two week extension to the bids being submitted, it could equate to the same delay for an announcement, also with Christmas getting in the way. I send a daily email to Jason Brewer who no longer replies. I wish we could see some buying though, that the only thing that worries me.
Unless its "Look, No Knickers!"
I have sent Jason Brewer another email today, I doubt I will get a reply as he has not replied to my previous three. I just asked if we were on track with the several bids which are several times the company`s share price. The current share price does not reflect a company in talks with suitors. I will post any reply.
Thats right, Jason Brewer told me via email that they hope to get the deal finalized during this calendar year but it could be delayed by a month or so. Most of the bidders/investors are Indian based and will dreg their feet. The company needs the working capital quickly though. Plenty of buys today, I would think the punters will start to buy in here in anticipation of year end news.
Hi I am hoping for a slightly better deal, 16-20p. But lets get to 8p first. Many suitors wanting to take this on, knowing that they can do a better job. The assets are not massive and most junior mining shares have been pummelled to say the least. I hope this goes back to fairer value, I have an average of 3.66 now having thought it could not drop any further. The share gets a lot of stick in OZ, management are not well liked having run it into the ground, so like I said lets get to 8p first.
Dont forget Bumpkin, they have $100 milllion in liabilities, this mornings sale is not going to help much. They are desparate for working capital