Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
With Chaarat suspended, it could be a clear bidding war between the 2 Chineese miners. I will be watching November 15th very closely. GLA
After a second reading of R.N.S. I gleaned a few positives.
Revenues did not include profit share arrangements.
Loan notes of $143.6m repurchased.
$14m less annual interest payments.
For those that have concerns.
Petra will present the results on the Investor Meet Company platform, predominantly aimed at retail investors. To join: https://www.investormeetcompany.com/petra-diamonds-limited/register-investor
Slowly but surely wins the day.
A very good RNS especially " · Visible gold was identified in 15 intersections across 35 holes drilled. Visible gold, including spectacular occurrences, has been identified in 53 intersections across 142 holes drilled since January 2021".
There is also the other side of the balance sheet to be considered. Looking at the fundamentals of the company, the YE for June 2020 indicated a loss of $223m. For the YE June 2021 a profit of $196m. This a turnaround of $419m. The operational FCF was indicated at $120.1m.
If the profits continue for the financial years 21/22, 22//23, 23/24, 24/25 etc. , there should be no problem paying off debt and interest.
I still cannot get over the fact of a dividend about 1 month after a $20m loan facility. It should pay for a round of drinks.
Are the big sells because of dividend payout on 15th July ?
The last time I looked , The Falkland Islands are a self-governing British Overseas Territory. Under the 2009 Constitution, the islands have full internal self-government; the UK is responsible for foreign affairs, retaining the power "to protect UK interests and to ensure the overall good governance of the territory.
Which means there may be an announcement after June 4th, the delay being indicated in my previous post.
The last time I looked , The Falkland Islands are a self-governing British Overseas Territory. Under the 2009 Constitution, the islands have full internal self-government; the UK is responsible for foreign affairs, retaining the power "to protect UK interests and to ensure the overall good governance of the territory.
Which means there may be an announcement after June 4th, the delay being indicated in my previous post.
Looking at RNS dated Mon, 17th Feb 2020 07:00, and studying "H1 FY 2020 Sales, Production and Capex – Summary" , there is a wide variation in price paid per carat from the 4 mines. Also quality variation may give a lower value.
The reason this share appears 'cheap' is the result of the 22nd December 2020 Prospectus for the Debt for equity swap of 90% of the company.
Feel free to correct me on the figures.
$409.9 million paid for 8,844,657,929 ordinary shares. Following the 50:1 consolidation , gives an adjusted share price of $2.31.