Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
My dear is that a large part of the customers of super dry Willbe unemployed in 1-2 months from now.....namely the young millennials 20-30 age group working in the hospitality and retail industries. And unemployed people don't spend money on non essentials.
Working stuff
I presume you are referring to me above.
I made this clear all along as did Prosperity.
There is a very real chance that UCG can get control and then shaft small shareholders like us. They and their collaborators have 40 percent of votes already after converting their bond share...that's why everyone on this board needs to vote like Prosperity recommended....in my earlier post....
thanks Lawrence for further supporting this. at the end of the day this could all be down to our votes.
We have near 1%+ on this board already I think dont we...?
voting with Prosperity we all have a chance of seeing the share price grind higher to £1 +
wake up guys ........
Prosperity is in favour of old board ...
With new enfocred backdoor takeover you will get max 10p a share...through new share issuances
Dear All shareboard members,
Please see here the notice of Prosperity who are acting to stop the illegal backdoor takeover of POG and ASK all of us to
vote at the upcoming EGM on the 10th August.
Please see the link again here:
https://www.stop-takeover-of-pog.com/
PLEASE ALL MAKE SURE TO ADVISE YOUR BROKER YOU WISH TO VOTE (YOUR CUSTODIAN DEADLINE VOTING DATE IS LIKELY TO BE THE 4th AUGUST.#
IF WE DONT DO THIS UCG and their collaborators who between themselves already have 40% of the shares will take over the company on the cheap and destroy your shareholder value in due course. VOTE for resolutions 1-6 and AGAINST resolutions 7,8, & 18.
Pan African resources and 3LSI up 12% and 20% respectively today
Yes ticker number: 3LGO
Why go for gold though, silver has far more upside than gold on all metrics!
Gilo try the following:
Pan African Resources (African old Miner) 185.000 ounces annual production
3LSI (geared 3 x silver price increase) (I bought this 2 weeks ago when silver broke out of 20 - already up 60% now)
Good job you ain't a fund manager mate.....
Thanks for checking this out Lawrence!
We will need to wait then...?!
pretty sure it would involve a haircut. It has to be attractive for both sides.
Hi Updownflat
slightly incorrect interpretation.
It was the fund manager of Prosperity's understanding that they would provide a sweetener for the bond holders to convert early. Obviously they would discount the future 8% cash flows so benefits both sides I imagine.
Please remember also that article 19 is a standard clause in many companies AGM's to allow up to 1/3 issuance of new shares at any time. including other gold miners such as Hochschild.
I know that Prosperity are interested in the long term share price growth of POG as we all are- so do indeed have their interests very much aligned with our own. Please see also the last RNS relating to their action.
Discounted at an agreeable rate of course.....
The green leaf as suggested by the prosperity fund manager would be the NPV (net present value of the 8% interest payments until the normal conversion date or something like this..,
Thank you.
Hi Kenz
I am still very much here and you will have hopefully seen my messages following my call with the fund manager of prosperity. I am also in contact with Lawrence from this board who is planning to go to the share register this week.....
Dark Knigtht - the problem with your strategy here though is that they can theoretically issue a lot more shares (for free) than your money can buy ....!!! And in the process give you ever smaller a share of the company for your money!
I am a lot more positive following the call with Prosperity.
Firstly because I see now the original agenda of the 1.1 billion share issuance had bona fide reasons and was related to the CB among other reasons.
He is keen for private investors to get together and become active and vote accordingly at the next EGM.
He still sees a risk but a risk we all can stop if we are proactive and work together! We are working on getting access via Lawrence to the share holder register to drum up enough PI's as possible (bearing in mind PI's are in in the order of 20%)
I will try to be as brief as possible:
1) They are very keen that we as a private shareholder group can form together as much % as possible to ensure that the board is reverted at the next EGM! He is keen on continuing the dialogue with us. The AGM was won by a narrow percentage majority as some majority shareholders were unable to participate due to technical reasons.
2) They are also concerned of private agendas of UGC, and they wish for a favourable outcome for all parties where shareholder value is most promoted such as a peaceful merger. He sees there is a risk that the company could start issuing new shares with a separate agenda in the meantime but hopes that the LSE would maintain control over this.
3) About Article 19 of the AGM - the reasons for this were yes to redeem the bond early i.e. to be able to offer the convertible bondholders to convert into equity as 8% is too hefty a burden interest wise and they could offer some green leaf to bond holders to convert earlier in a deeply "in the money" bond. The other reason was to buy shares for the Long term incentive scheme for management.
He also said that it was relatively standard procedure Article 19 for companies to have the ability to issue up to 1/3rd of the capital at any one time and cited a number of other companies where this was the case.