Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Take a look at the other HSBC charge on the large loan you see they are signed HSBC in China corporate trust and loans, I would imagine Edwards does his banking with HSBC and the trust is setup with HSBC Jersey for tax purposes.
My largest holding got to be forensic :)P been in it for 3/4 years not that it did much good cause still got **** by typhoons and algae.
You can see all the separate charges on the company below
https://beta.companieshouse.gov.uk/company/05098945/charges
Worth noting that in 2014 Edward's net worth was 3.7Billion
"However, according to a document lodged with the Australian stock exchange, it is one Graham Edwards who is the sole director and beneficial owner of Au Mining. The connection between New Zealander Walker and Edwards goes much further. Walker serves as an Advisor to D & A Income Limited, which is an investment trust company registered in Jersey, one of the UK’s very own tax havens. D & A’s annual returns reveal only that its shares are held in trust by two accounts at the HSBC bank.
Exactly the kind of blind trust that would show up as an HSBC nominee on shareholder records like MRC’s.
D & A Income’s beneficiaries are in fact Graham Edwards and his family. The trust formed a consortium in 2012 with DMCI Holdings to make a £49.8 million joint offer cash bid for UK listed nickel mining company ENK. ENK’s major asset is the Acoje project in the Philippines. DMCI reports that its partner D & A is, “an investment company, owned by a trust of which the principal beneficiary is Graham Edwards, chief executive of Telereal Trillium, one of the UK’s largest property companies.”
Once the core association between D&A Income and Au Mining is identified, an international web of mining and other investments emerges, often with Walker acting as the point man for Edwards who provides the big funds.
In 2012 Walker was noted as a director of Australian company Navigation Resources Limited, which reported a loan and subsequent working capital of A$19 million, received from Au Mining and its associate D&A Income, who between them owned 19.8% of Navigation.
Another example, Bacanora Minerals Limited, is registered in Calgary, Alberta, where the company held its last annual meeting on 12 June 2015. Bacanora runs two mining projects in North Mexico. The company’s largest shareholding (17.7%) is held by Igneous Capital Limited, ‘a private corporation that is incorporated under the laws of the British Virgin Islands and is controlled by Graham Edwards’, according to Bacanora’s AGM notice. The document continues, ‘Mr. Guy Walker, a current director of the Corporation, serves as Corporate Secretary of Igneous Capital Limited. Graham Edwards is the ultimate beneficial owner of Igneous. Mr. Edwards is also one of the potential beneficiaries of a trust that owns D&A Income Limited, which owns 5,303,030 Common Shares, representing 6.3% ‘. Through his front companies and association with Walker, Edwards owns 24.0% of Bacanora.
Guy Walker has given up his directorships of ENK, Navigator Resources and Bacanora, but the pattern continues. Walker still sits on the board of REG Metals Exploration plc, a gold mining company, whose projects are also in the Philippines. Through Jersey based Runruno Holdings Limited, Graham Edwards owns 19.0% of REG’s issued share capital.
In another direct link to Edwards, D&A Income owns 6.8% of highly profitable UK registered company Central Asia Metals Plc , with copper mine assets in Kazakhstan, Mongolia and Chile. Walker is Company Secre
Runruno Holdings is Graham Edwards investment vehicle for MTL I don't believe it has anything to do with HSBC, the Paribas and HSBC senior facility relates to the capital loans which MTL have been paying interest on although have failed to meet the capital repayment schedule previously rescheduled, the new terms and rescheduling of this capital repayment is what has/is being decided along with the working capital loans (smaller) which have come directly from MTL and Runruno Holdings (candy and Edwards). The loans from MTL and Runruno have generally been smaller and provided working capital to keep the operation running and in part to meet the capital interest re-payments to HSBC and Paribas, this is the mezzanine facility that is referred to in the RNS's, the consolidation of which is being/been agreed.
Looks like Bowden is clearing the lot out - totally new chapter
No that's just my opinion, from a business view you would get far more for a proven working mining doing xxx amount of stable production per quarter with a jorc report on the exploration areas than you would for a mine presently un-proven and exploration areas yet to be drilled.
Sorry CV can't see it, the prospectus goes on "The Company currently expects the Target Company to be a mid-cap or large-cap entity operating in the consumer, industrial or “non-balance sheet” financial services sectors, where Trian has significant historical operating knowledge and expertise.
Anyone who was looking at a takeover would have picked up the 65million shares for a start at 0.30 or thereabouts. It might be some point down the line after exploration results and at least a couple of quarters stable production or when the loans paid back but the candy's et all aren't stupid they know the potential of money that this should be making and the further exploration upside they aren't worth billions by being naive, they wouldn't have been propping the company up with working capital loans for the past couple of years to let that much profit slip away.
sorry BSRT
Unless you are referring to BRST but that's only 2.6% in their portfolio they actually own 6.6% of MTL but either way you need to mention who you are thinking about.
Sorry no idea, closest i can see on register is blackrock with 3.91, that's if jarvis were the ones who dumped. i wouldn't off thought you would get in any trouble you do know the **** that goes on in aim stocks.
Well there's almost £750,000 saved per year, £578K on holzberger alone
didn't realise it would blank it all out - but from that well known website run by Winnifrith
"Okay I have not always called Metals Exploration (MTL) correctly. But ten days before Christmas I suggested punters looking at Metals Exploration should, in the immortal words of Perry Como, catch a falling star and put it in their pocket. Since then the shares have nearly trebled.
The event, which shareholders are eagerly anticipating and should further spur this dog’s recovery, is a resolution of new terms for the company’s £90 million debt on which it has defaulted. The current spurt in the share price suggests this is imminent and, I am told, agreement has been reached with the existing lenders HSBC in Hong Kong and Paribas in Paris.
Last week the company posted a new presentation on its website. It has recruited a new chief executive, Darren Bowden, who has an impressive track record and has already put in a new team to manage operations on site.
The new technical director, a Chinese born Australian, has a PhD in flotation and will soon iron out the glitches that have plagued this project. I believe the forthcoming quarterly report will show that the biox plant is now running up to speed.
Furthermore, the new team has not only promised to fully tackle the operational challenges but has resolved to develop the significant exploration upside. It is confident it will produce gold at an annual rate of 100,000 ounces at under $750 an ounce after all cost including debt. What that should mean is that the company will throw off significant cash by the second half of this year.
So stand by your beds and let the good times roll!
Looks like the resistance has finally gone at .85 same to sell now
Maybe the seller has done,
Good to see they have cleared the debris from the operations team, new plant manager and flotation specialist as technical director
Exploration activities to recommence this year.
Really good update just need to see those figures for December at the end of the month
Looks like new CEO is pushing changes through- corporate update last one was four years ago
Spreads tightened right up as well, 0.8 to sell 0.83 to buy,
To be honest CV i always said i would sell at 15p but i would be happy at 5p best part of 85K in here over the past 3 years 20K in the past three weeks like a moth to a flame on this one should know better, it's been a bloody roller-coaster just when you thought they had turned a corner they skidded right off again, be it rehabilitation orders, biox eating algae, bloody typhoons and then the computer error.
I had written it off when the ii dumped but with Bowden being appointed who wouldn't have taken the job if he didn't think he could make it work then it might just come good
If they can prove up the plant and produce over 17-18k gold poured in a quarter then we should be okay but so far the closest they have managed is 13K hence the need for working capital and constant debt waivers.
Here's hoping they plant was brought back to full production in December.