The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
another project that will probably amount to nothing.
Sorry I should have said that 17p is more than Big Sofa are now.
I should have said capital reduction with ongoing costs, salaries etc. since NWOG stopped trading. There will be less in the pot now, but there is always the convertible loan to Big Sofa of �675,000 in Dec 16 with a forward settling date of 31/12/18. I think Big Sofa have the money set aside. If converted, I think the price is 17p, which is less than they are now but there will have been a bit of interest accrued.
Eridge Capital (formerly New World Oil and Gas) has issued share certificates to its holders. It is based in British Virgin Islands, not sure if it is listed anywhere or how much dilution there may be with these new certificates They are on a 1 for 1 basis to previous NWOG holdings.
It seems (unlike before) the company does not wish to disclose specific numbers in companies it has holdings in. This makes it very difficult for PI's to do any ongoing due diligence, and with being kept in the dark, some holdings will have probably have been sold. There may have been considerable changes but from past notes i had MXO at 8,600,000, PPG at 49,333,334, MTR at 14,200,000. Shumba was reduced as far as I am aware to 500,000 shares from 2.5 million which is would not be worth very much if they still had them. Bison, unlisted, was $US 280,000 in loan notes. Elephant oil, unlisted, bought when Matt Lofgran was a director, �300,000 was invested and I have a note of PRS holding being 1,185,770 shares but that was some time ago and may have changed. I do not hold much PRS these days as I like transparency and directors who will do more for their investors.
I am not good at copy and paste but just read a 35 page article by Liberum on Aisamet Resources dated 28th Feb where a peer group is listed on page 11 of 16 worldwide companies and MOD is one of them. Same article is on the Advfn BB for Solgold dated 16/03 at 7.31 hrs. Mod could have quite a resource in time at Botswana and MTR has a nice stake in it.
Not good here at keeping investors up to date. Only give an RNS if it is essential.
The mm's want the shares, the cheaper the better, hence the drop in price to trigger stop losses and shake out the weak.
I see i3E has made a move upwards in the last couple of days. The problem as far as I am aware, is that shareholders here do not know how many shares PRS own in them or the price they paid. The same applies to the other spin off from Glenwick Cora Gold. Did they get better terms than private investors? With shareholders being kept in the dark regarding news it is difficult for potential shareholders to know whether to buy in or not.
I held more than 1% in the past but as far as PRS is concerned nobody cares about the personal investors and keeping them up to date with happenings. IMO Nick has not done his duty well enough in his paid position within the company to keep shareholders informed. Lets hope Melissa does a bit better. .
What do you mean by a Hong Kong year ?. I know we have Far East share holders but I would prefer PRS to stay in London.
This would be a perfect time for the share buy back then that was mentioned by Nick some time ago, to enhance the value of the company. It has never happened.
The stake in PPG is worth �88,000 more than than PRS whole market cap. excluding cash and all other assets. Communications have been so bad here I do not think anyone cares whether it is undervalued or not.
Yes, PPG holding now only £150k short of PRS market cap. excluding cash and all other holdings.
EGM in NWOG (N Lee Chairman) called for 28 th Sept with a proposed change of name to Eridge Capital Ltd based in British Virgin Islands. £256,688 was put in for the 8% in NWOG and there is an outstanding loan to Big Sofa (BST). PRS market cap today is £1.372 million with the PPG stake worth £1.06 million with other irons in the fire, but due to a lack of communication with shareholders, seems to have lost its feelgood factor. There is also an open offer at the moment, 2 new for 1 old shares at .00912p in GWIK for existing shareholders, will PRS get involved ?.
PPG done well today, PRS stake in them(49,333,334 shares at 2.05p) worth just over a million £. Should really have had some communication regarding the Glenwick stake turned into i3 shares which stated in the last quarterly update that they would be at a significant discount to the price that any new shares in i3 are subscribed for by investors at the time of the IPO.
That sale is approx. 5.6% of Paternosters shares in issue and Polemus would have had around 9.2% so it could have been them. The £150,000 satisfied by the issue of 93,750,000 shares to Polemus worked out at .16p per share, so that sale would have been at a loss.
PRS also had over £256k invested in New World Oil and Gas which has subsequently been delisted from AIM. NEW had loaned, I think from Memory, over £1 million to Big Sofa Technologies (BST) with a view to a reverse takeover which did not happen due to past company irregularities within NEW, but at some time in the future the NEW money within BST will have to get sorted out as as the loan is still outstanding.
Scotty As you say when Glenwick starts trading you may have to pay a greater price than the likes of PRS who will be in at a pre set price the same as current GWIK holders. Nobody knows what will happen, but when that Liberator field deal was initiated oil was a fair bit less than it is today. Dana petroleum owned it and they were shifting on some of there assets at the time. The gold play is a bonus for me as I did not expect it. Mon the VIR.
Amanda starting to prove her worth. This is an excellent deal for Paternoster, getting in with a decent rock bottom stake in Glenwick, so much potential. I am also a Glenwick shareholder and have been following the story. It may make Polemus think again short term before selling any further shares in PRS, as IMO, when these deals are done there could be a fair bit of upside.