Member Info for Metalhead25

The KzG twitter post promoting it has vanished so maybe it isn’t happening after all?

This should be a bit of a one way bet from here, in that the share price is about where it was before the speculation and since then we have had good production and exploration results

Ella, no - but I was interested in the tweet today saying that so far the stratigraphy they’ve drilled through matches their CSAMT interpretation. Encouraging

Nobody can guess what’s in Panmure Gordon’s mind but I’m thinking 30-35p

Here are the key words:

“Now that Han**** is moving into a production footing it's important to secure our full ownership rights. Obtaining finance from our partners also requires certainty at the licence level”.

To me that indicates that discussions with Anglo American (“partners”) are progressing well and that the company is fully confident of moving to production. (By contrast, if IOCA was going nowhere fast there would be no reason to exercise the Option early and we wouldn’t have done so.)

This RNS seems to be the clearest possible signal that the AA deal is on track, short of direct confirmation that it is signed. Put it together with the new appointment to the management of IOCA and the picture is a very positive one

It’s not right than insider trading is allowed during the Offer Period. That would be bizarre. The position is (unsurprisingly) that a person who does not have inside information can trade as normal despite the fact that we are in an Offer Period, provided that, if they meet certain qualifying criteria, they have to disclose their dealings after the event.

I think what has happened is that Shandong and Yintai have reached some agreement whereby Yintai drop out. They wouldn’t want to be bidding against one another. Very good drilling results

Oh it’s djryan, that explains it. Reasonably substantial analysis but always talking his own book and just cannot shut up. I hope you’re all ready because if experience at Rambler is anything to go by Publican is not going quiet any time soon. Get ready for 50 posts a day, completely drowning the board, from now till whenever he buys in. Then you’ll still get a lot of posts but they’ll be overwhelmingly positive.

I’m new to Shanta but fwiw am not convinced that Leslie senior had inside information when he made his recent sales. Insider trading is a criminal offence and likely to lead to regulatory sanction / director disqualification. It is not at all obvious to me that the CFO would risk the end of his career, and that both him and his dad would risk criminal conviction, in order to sell 10% of his dad’s shareholding at 12p rather than the background price of 10p. In fact, that seems pretty far fetched.

Also, all the sales happened within a few days after the company gave notice of possible offers. It seems inherently unlikely that any of the potential offerors had made their position clear by that point. In fact, since more than a further week has now gone by without any announcement of either an offer or a withdrawal, it would seem to be the case that they had not made their positions clear. Meanwhile, Leslie has stopped selling.

Publican will send a long reply to this - possibly two or three long replies. I will say in advance I will not be responding - too time intensive to debate!

“insider selling at the peak” - how is that known?

The obvious surmise is that he is not really invested in Kavango…

Lots of takeover code filings yesterday. Would seem to indicate Panmure Gordon remain optimistic about the deal going ahead

He certainly has plenty of helpful contacts and experience. Whether he does the job well time will tell. I like the fact that the company is clearly confident in pushing ahead with IOCA in the short term

Good interview, lots going on. Sounds like the KSZ strategy now includes both looking for a partner and if necessary drilling the B conductors ourselves in the new year. Sounds as though there is news to come soon on the KSZ as well

Yes, a major improvement already in PR and seems like more to come. Dennis performing on all fronts at the moment, long may it continue

Very sad news. At least it is clear for all to see that Tharisa does everything possible to avoid such incidents occurring. Unfortunately it is simply not possible to eliminate all risk.

I feel like a right chopper for even asking this, since it clearly is in no way the most important consideration. However, it is relevant to investors, so here goes… Ilja, do you expect the recent tragic incident to have a material impact on Tharisa’s production?

The share price performance has in my view been almost entirely a result of two things:
- the drill at target B in the KSZ missing the target due to it turning out there were two conductors with the drill going through the gap between them;
- the general dramatic downturn in the metals exploration sector, which has hit almost every such company, with those perceived to need to raise money worst hit.

Neither of the above are Ben’s fault. On the contrary, he has plainly done a huge amount of work to mitigate the difficulty of raising money in current markets, culminating in the recent financing.

It’s also worth noting that the drop in the share price is not anomalously bad relative to the sector. Some examples:

KAV - about 5 down to about 2
ROCK - about 1 to about 0.15
PXC - about 70 to about 25
ARCM - about 6 to about 3.3
PALM - about 12 to about 5
ECR - about 2 to about 0.8

In my view, repeated attempts to blame the CEO personally for either a drill miss or market conditions are more consistent with a grudge or vendetta than a true investor opinion.

With some trepidation, I’m going to say moon has a point. It’s obviously not good that the company has not managed to sort out the financing. But, given that state of affairs, there is something to be said for avoiding wild swings in price between now and the same time next week, while last ditch efforts are made

The value proposition here is now truly special.

Market cap - £4m
Cash - c £1m
Traded value of shares in PNT.AX - £2.1m
Value of stake in Fulcrum Metals - unknown but say £1m

Conclusion 1 - Panther market cap approximately covered by cash and investments in other companies

Some points about Panther/PNT projects:

- Panther now commencing drilling at Obonga
- Large project area
- Top notch jurisdiction
- Outstanding prospective location, surrounded by many major discoveries
- First individual target, Wishbone, drilled previously, hitting 70+ metres of massive sulphides
- Discovery of volcanogenic massive sulphides at Wishbone strongly supports likelihood of further discoveries, since VMS deposits typically appear in clusters
- Other Obonga targets based on various coincident targeting indicators, including magnetic, EM, soil sample, historic drilling (including reports of copper sulphide which was not assayed)
- Manitou Lakes project has returned extremely strong gold in soil readings, follow up programme underway
- PNT’s Coglia project has a 70MT Nickel-Cobalt resource in Australia
- PNT’s Burtville East project has produced stunning gold assays in Australia (including 15m at 54g/t - truly spectacular)
- Diamond drill assays awaited from Burtville East, including a core which showed visible gold

Conclusion 2 - Very exciting and (by the standards of the sector) low risk projects

Here we go. Starting with Wishbone, which we already know hosts massive sulphides. Exciting times

FK and F79, your understanding is in line with mine - I don’t think we’ve yet drilled into the target zone on any of these holes, therefore it’s definitely not possible to infer a results-based motivation for this financing. What I think you can say is that raising before results rather than after is the more cautious approach. If, hypothetically, we were to have a bad drilling campaign, a raise afterwards would be difficult and/or much more damaging. That element of risk management may have been part of the thinking. But the raise can’t have been a reaction to actual results