Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
As you know, linking the page only lists the correspondence, not the actual one you are reading. There are currently 152 on there so if you could let me know the date of the e-mail you are referring to I can sort by date to find it amongst the the other 151, ha!
EE - what's the date of that upload please? The last update was 9th June on that page. I've read pretty much every upload and e-mail on that site so if you could pin point this one by date so I can refresh my memory it would be much appreciated. Cheers
Correction, 4m and 6 x 1m trades
So whoever this seller is looks like they’ve offloaded at least 10m shares since yesterday (4m, 2m and some 1m lots). Seems the SP holds up quite well against it so assume that once they’ve finished this will can move up? As always though, no way of knowing how many they have and how many they’re selling until a TR1 is issued. OHS
Afternoon all - just started having a read up on here. Lots of back reading to do so any bullet points from current investors much appreciated. Saw a few decent buys today and then a 4m sell to put a cloud on them - any history of a seller lurking? Surprised given the low entry point that someone would sell £24k worth at .60?
EE - the floor price was set for the 3rd and 4th tranches so the current SP is below that (13p) - they can still pre-pay if they wish but they have the option to postpone. The first 2 tranches had no floor set so they had to pre-pay the £2m each time
EE - It's not 'more cash' in that sense - it's part of a pre-payment by an investor who has so far invested 2 x lots of £2m (December and March). This is their subscription of shares from one of those investments. They can request shares at any point within 24 months of a pre-payment. 3rd one is due in June but a floor was set at 13p in which they could postpone by up to 6 months if the SP was below the floor. So basically, SAE already have the money, they are now issuing the shares. OHS
Its crazy! Some nice buys showing up though; the 200,000, 700,000 and 900,000 all look to be buys but shown as sells
Sparta - I see one of three options, taking a hypothetical approach that the variation permit will be granted and therefore Subcoal PAF 'could' be utilised:
1. Planning permission is approved by the Welsh ministers for the silos (this is the called-in application, not the conversion itself) - the silos can't be rejected on the grounds of the moratorium - it would have to do with habitability impacts as I can't see what other objections there could be. However, the moratorium on new plants and planning stage applications is still valid for Uskmouth and therefore the conversion would proceed no further as Uskmouth as we know is 20x the 10MW capacity
2. Planning permission is approved and a deal is somehow struck to allow Uskmouth exemption from the moratorium based on the transitionary benefits of their model and concept
3. SAE withdraw the planning application for the silos, thereby no longer requiring as decision by the Welsh Ministers - application to build silos elsewhere is sought and with that, a means of transporting the pellets to Uskmouth - but this would inevitably cause a whole world of new conflicts and problems no doubt - transport issues being the main one and also the fact that the moratorium may still apply
Without variation to the permit, there only option to re-energise as a power station is either to become a standard incinerator of household waste or revert to coal - but they have recently tweeted / re-tweeted in favour of coal being banished so that's not a likely fall back
There are obviously other avenues to explore but these I believe are the main hurdles to overcome. Without EP, Uskmouth idea is flat on its back, with EP gives a fighting chance but unless Uskmouth can be exempt from the moratorium on plants above 10MW I cannot see how it will ever re-energise
OHS
The permit variation, if approved, by NRW has nothing to do with the planning application and more recently, the moratorium on EfW. The NRW decision is purely on whether the current permit to burn coal can be varied to approve the burning of their propriety Subcoal PAF product. The permit variation for all intents and purpose looked likely to be approved imo, and may still be approved, but if the moratorium applies top Uskmouth then it doesn't matte what they 'can' burn if the limit is on 10MW plants. I do agree with your comment regarding transition periods and Uskmouth is certainly well poised to offer the perfect transitionary 'stepping stone'. OHS
I have to disagree - there was a 'grey area' regarding the moratorium and whether Uskmouth would be classified as a 'new' EfW plant or not. When news of the moratorium was released back in March, it stated that the moratorium was on 'new' EfW so there was hope that Uskmouth would perhaps not be classed as 'new' and therefore be exempt from the moratorium. The article now states, 'including those currently under consideration'. I agree with your comment regarding this news being priced in to some degree and the recent drop to the new 52 week low is possibly due to this. Coupled with the fact that the SP is now way below the floor price stipulated for the 3rd tranche of investment (due sometime in June) the next statement or update from the company is going to need to be very upbeat to change current mood. OHS
Net cost per well: US$1.58 MM - slide 23 from presentation (link below):
https://serinusenergy.com/wp-content/uploads/2021/04/Serinus-Energy-Corporate-Presentation-15-April-2021-v4.pdf
OHS
What makes you think they were buys? Look like sells to me. Timings look pretty accurate to prices yesterday
Morning all. Anyone with a deeper knowledge base on here know who the TR1 buyer is? Very happy to have an investment in here from what I have read so far and have found the posts on here very informative. Cheers, OHS
Regular as clockwork
My post from Feb:
RE: Hadn't noticed...15 Feb 2021 12:41
Afternoon all - have I missed much?! I've taken my finger off the pulse with this one (if it ever had one!, ha!) so having to back read through to catch up. Is anyone on hear expecting to see another equity issue or fund raising in the near term? I note the last update of financials for the period ending 30th June 2020 and they only had cash and cash equivalents of £190K remaining. They expended £146,000 as cash flow from operational activities for this period so that's approx: £24,300 per month, give or take fluctuations. It's now been 7 1/2 months since this update so using this crude maths I make that £182,500 of possible further cash flow from operations? Am I missing something here? Even if they have tightened their purse strings considerably in this period, I would still expect this remaining £190,000 to have been fairly drawn down on? Coupled with this, the directors are still due £1,240,000 in the 'other payables' section - where is this going to come from? Any clarification much appreciated prior to a possible (re)investment. Cheers, OHS
Davey - in short, no. The additional £4m is after the 4 x £2m tranches if agreed upon. The first £2m tranche was in December and £750k was subscribed for at circa 11p. The second £2m tranche was in March and we now know the price was circa 7.4p and £500k worth subscribed for. Therefore £1.25m still available from the first tranche but not worth drawing that down as it’s over current SP. £1.5m left of second tranche. 3rd tranche in mid June but that will be dependant on SP at the time and heavily dependant on Welsh Ministers decision to approve or reject the planning application for the additional infrastructure. OHS
ST - the draw down SP is a 5 day weighted average of the SP at the date of the investment; 7.4p. They only drew down £750k from the first tranche at circa 11p (I think) so no point drawing anymore from that tranche. As to why only £500k of the £2m - I would hazard a guess that to draw down anymore would potentially depreciate the current SP below 7.4p. I get the feeling they only subscribe to the shares for onward selling purposes, thereby reclaiming their investments back so to speak. I would therefore expect to see some larger than average sells from next week like we saw after the first tranche draw down. OHS
Morning OT, yes mate, still here. A welcome change in the SP last couple of days (especially yesterday). Let’s see how today pans out.
Hi Mike, this was my post from Feb (easier to copy and paste):
RE: Hadn't noticed...15 Feb 2021 12:41
Afternoon all - have I missed much?! I've taken my finger off the pulse with this one (if it ever had one!, ha!) so having to back read through to catch up. Is anyone on hear expecting to see another equity issue or fund raising in the near term? I note the last update of financials for the period ending 30th June 2020 and they only had cash and cash equivalents of £190K remaining. They expended £146,000 as cash flow from operational activities for this period so that's approx: £24,300 per month, give or take fluctuations. It's now been 7 1/2 months since this update so using this crude maths I make that £182,500 of possible further cash flow from operations? Am I missing something here? Even if they have tightened their purse strings considerably in this period, I would still expect this remaining £190,000 to have been fairly drawn down on? Coupled with this, the directors are still due £1,240,000 in the 'other payables' section - where is this going to come from? Any clarification much appreciated prior to a possible (re)investment. Cheers, OHS