Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
1.78 to buy now. 2p on the ask.
NT to buy at 1.5 ask, looks like the next leg up is coming. Could we break 2p today?
Very difficult to buy in volume, small freefloat, sub 2p will not last for long IMO-MM's need to lower the spread to encourage liquidity as the huge spread will put off traders. who are important for liquidity. No set time yet for the circular or proposed delisting so a lot can happen in the meantime. Look at ITS which went from sub 0.30p to 4p.
DYOR
The placing was at 2.5p and the par value of the shares is 2.5p so that is the floor.
MM's need to narrow the spread here as it is 50% currently which is a joke-it is as if they do not want any buyers!!
I have put in several FOK orders at 1.10p all failed. I can see the SP hitting 2.5p soon.
DYOR
I would not rule out a low ball offer by the majority, they could easily launch a takeover at say 1p-1.5p and it would get voted through.
DYOR
From today's results:
Net assets per share at 31 March 2023 were 5.2p per share.
Current SP is 0.25p.
The net assets would be after the net debt is taken into account. The proposed de-listing is to get rid of minorities in my view so that only the big fish stay on and eat the cake. The company is not insolvent so the proposed de-listing is not the same as administration. I expect at least the SP to run up to over 0.6p to 1p -there is plenty of time to the meeting next month.
DYOR
Guys, the director/CEO buying may continue. It would be foolish of him to throw everything into it in one go.
Let's see if more buys are reported over the coming days.
At sub 2p, this share price looks very decent for an uplift, obviously this is not good for holders who bought in at 20p plus.
DYOR
VernetLes,
Yes, it is entirely feasible for new bidders to emerge, the previous offers valued at 10.5p I believe so 10p is possible. The brand is rebounding again and seems to be trading very positively this summer season.
Currently a good price IMO under 2p. If it hits 10p, that is a 5 bag from here.
DYOR
Too oversold, the ESIA has not been rejected and the matter has been escalated to the central government -company confident of approval.
The seller seems to be out, MM's now short of shares? Expecting the SP to settle around 2.50p IMO later today.
DYOR
Cyrox,
I have bought in this morning on the market as I feel the bottom has been hit and the SP will move up freely now.
Let's see . The SP could be 0.20 in a few days so you may or may not get your buy in price.
DYOR