Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Now that the placing is out of the way, the SP can move up freely. I would think thatthe placing was flushed in yesterday's volume and forward sold already, so it would be great to move back to 0.20ps and higher.
DYOR
From the RNS of 6 June 2023:
"The Company has also made extensive cost savings across the business and the monthly cost base in July will be £185k (annualised at £2.2m) compared to a monthly average of £600k in H1 FY23. The Company currently has cash reserves of £0.4m. The Directors believe that these cost savings provide the Directors with an organisation that can achieve operating profitability on an EBITDA basis in the near term.
Chairman, Neville Upton commented "This has been a difficult year for Digital Media with the Company having losses across all verticals, however after a significant re-structuring, we are confident that Gfinity will flourish without the requirement to raise further working capital. By focussing on our core web offering for Gamers, we are able to remove the capital intensive businesses of software development and esports events, and focus on returning to a positive return on investment. We will update the shareholders shortly on a more detailed strategy."
MM's need to close that 40% spread first. Need volume to close the spread.
A 5-6p bid would be great.
There is a steady buying of 200,000 clips, surely cannot be trader looking for a 10% trade?
As I see it, we may have seen the bottom here, if there is any news of Bangladesh looking to get GCM coal, we would be higher than 5-10p in a flash IMO.
DYOR
The SP was 1p last year and can easily get back up there as the wind is now beginning to blow on our side on the back of the Italian news. French news next? Let’s get to 0.50p first before thinking about 1p.
Dyor
Pros:
"The Company has also made extensive cost savings across the business and the monthly cost base in July will be £185k (annualised at £2.2m) compared to a monthly average of £600k in H1 FY23. The Company currently has cash reserves of £0.4m. The Directors believe that these cost savings provide the Directors with an organisation that can achieve operating profitability on an EBITDA basis in the near term."
No further cash raise required:
"Chairman, Neville Upton commented "This has been a difficult year for Digital Media with the Company having losses across all verticals, however after a significant re-structuring, we are confident that Gfinity will flourish without the requirement to raise further working capital. By focussing on our core web offering for Gamers, we are able to remove the capital intensive businesses of software development and esports events, and focus on returning to a positive return on investment. We will update the shareholders shortly on a more detailed strategy."
VernetLes, the company has no debt so cancellation is not a possibility IMO.
Bidding would be far easier for the remaining 75% or so shares that are in public hands. 0.50p gets my vote.
DYOR
Looks like seller out. Company has no debt and has what looks like a profitable gaming business. The price is a steal down here IMO. Now is the best time for the BOD to make a bid if they are serious about acquiring the rest of the shares - 0.50p per share could be taken up quick IMO.
DYOR
Wow, great find. Surely these news should have been RNS'd?
How is the share price below 0.40p?
DYOR