Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I would like to know what the staff are doing to justify being paid 400k between now and next side of January? Very, very slow releasing news to the Market this company. So frustrating im locked in to this share......
After today disappointing result, gives way to a brilliant entry point for myself and others looking to join, or average down. I just researched assets and finances, this company looks good for a 2019 outfit. Worth a punt in my book. GLA
Feel and share you pain - Ive learnt my lesson to not deal with AIM small cap companies. If im ever going to do shares again, wil be the FTSE 100 / 250 only as they have BODs that actually communicate to market. Not just CEOs who do Hype and Place. GLA - i hope something postive changes here, but bottom drawer for me also.
Starting to really get peed off with this company. All BS before fund raising to continue paying wages for a team for the past year, tbh that didnt need to be there as NOTHING is happening. Surely would have been better to save 300k a month in wages to go to market when needed to get staff instead of waste money. There NEEDS to be market news for this to get anywhere near 1p again, or the reality is it will dwindle down to 0.15 by xmas, which i imagine will be followed by a consolidation at 10:1 and yet another placing. GLA
Many big hitters manage the 3 to 1 sale ration and have a full system in place to deal with returns. They need to go in hard on the internet to compete in this day and age and with all there stores they could smash it with a return/pickup service. As you said, been caught sleeping on job this lot.
Oh dear.....Think alot of shareholders are well and truly locked into this, me included! 2nd outright Lie in a year from Arth.....2nd of Aug video post "Within a month" for a service provider to be announced.....well a month later and nothing? Terrible really, im shocked how the company are just blaming Africa for the delay, when they could have pursued other oil adventures in addition to this. I know there is mention of Moz and Lib, but no activity there. Boy oh boy how i could do with releasing my capital that i have tied up here....I had no intention to invest in the company for over a YEAR! I think this one is in some serious trouble.Where is AB MAN now?? GLA
Under water 70%,here with no more capital to put into this - Looks like a long term hold. Alot of BS being assumed by many, only thing we know for sure is Arth keeps saying he intends to avoid Share holder dilution and done exactly that, and he intends to drill end of Sep/Oct 2017, done exactly NOT that, and he wants positive update for end of Sep 2018.....See if he does exactly that? Lots of carrot dangling going on and not much bugs bunny chomping..
I completely agree, im now desperately hoping that this company can recover as im committed and starting to come to terms that this could very well be a company that is P***ing in the wind. Market Cap is tiny, there scraping around on placings just to keep company afloat. Seems like a reoccurring theme to do a video promoting how wonderful OPL226 is, but then days later complete disaster. Arth knows alot more than he is letting on. Why 400k cash burn month in month out....Were not even drilling, so what is in inhouse geolgist doing if we already have plans done for this site?! Trouble is they have committed everything to this Nigeria prospect with so many larger companies with bigger pockets in contention that they will simple flush out COPL's position and divide the rest between them. Hope im wrong, can seriously see a legal battle with Essar and silence from NNPC causing COPL to go POP. GLA we have been promised action within a month.......but im not holding my breath.
I've been locked in this share since Sep last year - I just picked up a small 195k this morning to bring my average to just under a penny. Still high i know, but holding 1mill now. Confident this will take off very quickly in the next coming weeks/months. Needs one solid RNS confirming green light for operations and its a serious multi bagger. Fact that funding has been sourced is a great sign. GLA.
So we need to get to roughly 22mill in shareholder representation so we can pass a resolution to carry out board changes. Will need to compile legal articles and file them to the company. Its remarkable the lack on movement this company has done over the past 2 years. Im going to email the board and the company secretary informing them that were in process of completing all General Meeting requirements, and we expect to have this called in the next month for the request, discussion and approval to replace our leader and chief executive officer due to failures to keep members up to date with current company intentions and the poor set of results running over the past 24 months. I as one am not happy about the direction this company is going, currently being nowhere and i would like to see justification for all salary and expense costs occurred. 1.5 mill gone in 2 years?? Where? Why? We actually only need to give 14 days notice for the meeting, but we need to reach our magic 22mill threshold. Furthermore, it would also be helpful if people actually attending the General Meeting once arranged.
Hi, to get an idea if we can meet the 5% requirement. Please complete this 5 second poll. https://www.surveymonkey.co.uk/r/WXVVXRW Thanks
Right, seeing as no other shareholder seems to doing much about removing this clown of a CEO. Im happy to start to the process. For all that are un aware of how to do this, read this: https://www.ashfords.co.uk/news-and-events/general/how-shareholders-remove-company-directors Memebrs have the ability to demand a general meeting. Section 303 of the Companies Act 2006 requires the directors to call a general meeting once the company has received requests from members representing 5% of the paid up share capital those entitled to vote at general meetings of the company. So i will set up a link for shareholders to go to and agree that your happy to call a General Meeting and formal documents can be arranged and sent to the company. They will then be legally obliged to hold the meeting and we as shareholders can request for a board member to replace Bandy.
I have also put a formal complaint into the Financial Ombudsman and have asked for full investigation into this company. During my researched i was astonished to find that in the background, 5 LTD business have been set up with surprise surprise the same directors with negative assets and liability. No doubt to avoid taxes on money they have been taking from this company. The company has 5 Ltd business set up with all the same directors . TOWER RESOURCES (NAMIBIA) HOLDINGS LIMITED (6 years old) TOWER RESOURCES CAMEROON LIMITED (1 Year old) TOWER RESOURCES (UK) LIMITED Credit Report 19th Aug 2016 (1.5 months old) TOWER RESOURCES (KENYA) LIMITED (2 Years old) TOWER RESOURCES (NAMIBIA) LIMITED 11th March 2016 (6.5 months old) Directors robbing the investors: MR GRAEME PAUL THOMSON Mr John Michael Bottomley Mr Peter Eric Kingston MR JEREMY BENJAMIN GERALD ASHER Mr Ben Harber MR ANDREW JOHN SMITH MR NIGEL ALAN QUINTON I also want to get hold of the public financials for Tower Resource Plc and reveal how much has been blown on EXPENSES. The corruption in this company appears to be unbelievable.
I sure do intend to go. Ive seen some shockers on the AIM before, but this one is right up there with corruption. I would like to research a dig deeper into the licenses delayed they issued to drill these sites in the first place. Its a big amount of money for an AIM listed company to cover up and very little, if no explanation has been provided. Time to put them under the microscope and really find out where there capital has been moved to. Cant tell me £100 million plus went because investors sold short to release shares. They were being held to ransom by Repsol and Neptume. I mean saying you blew another 10 million because of winter conditions is ridiculous. Saying they got a reduction to 25mill from 33mill is a good deal is crackers, paying Neptume 3mill cash to shut them up. This whole operation stinks of poor management and dodgy excuses.
I'm going to cause them a very large headache, public explanation and investigation as I think many PI would be entitled to get a form of compensation here. Il await the response and then launch a complaint to http://www.financial-ombudsman.org.uk/consumer/complaints.htm. I'm going to publicly expose the directors salaries and ask them to justify taking such large sums out of a public company when such little return is evident. This company ticks all the wrong boxes and its time to turn up the heat on the not so clever geniuses that have piloted this company into oblivion,
I have attempted to communicate with this company and sent the following mail: "Dear Tower Resources, I am amazed by the string of poor results and terrible decisions made by the BOD of this company. To loose the amount of share capital that you did from Namibia with very little explanation displays dastardly and bad ownership. Followed up by millions being decimated with Kenya, i'm astonished that no accountability has been held. You then decide to consolidate a highly oversubscribed share price, which results in you losing many more millions of pounds. What is your plan to rebuild this company and return share price value back to the PIs. In many other companies when a CEO and supporting board cause this much of a disaster, they are generally replaced by more competent staff. This is a public quoted company, not a private. Exposure must be revealed to give transparency to the investors. Regards," If i get a response, i will inform.
Buddy, there was a consolidation with this share - Cant remember ratio, but think it was 100: 1. So for every 100 share you now hold 1, that means the price went up to reflect new shares in issue. However, this is one of the worst companies to ever stain the stock Market. If for whatever unknown reason, a slight discover was made in SA, you would need this share to be easily £10 to see any form of profit......You had the right attitude, ignore and come back in another 3 years if it hasnt been de-listed.