Member Info for Phrontist

Squirrel 26

I clicked the PANR Share News tab at the top of this web page.

Then one of the News Tabs near the top.

Now it's your turn to read first and whinge after.

P

Squirrel 26

Good information, thanks.

How much has the company borrowed?

In which case they have to pay it back.

In balance sheet terms, the position will be worse as at end 2025.

Ideally what 88E and PANR could benefit from is being bought out lock, stock and barrel.

Perhaps with a share issue by a cash rich neighbour.

Many years ago, likes of Chevron and Conoco Philips were talked about.

The fact that no one jumped implies the success of further exploration was looking like Dickbat's expiration.

P

Dickbat

You write 'expiration company' = expires

I note 'exploration company' = explores

Freudian slip....?

P

Dickbat, I agree with your sentiments, quite understandable.

I have bought and sold 88E and PANR since 2015.

The idea 💡 of these Boards is to share opinions, not all permanently bury our heads in the sand.

My post was largely pointing out facts - no accounts 2025.

My personal opinion is, anything could happen in 2026 with 88E and PANR.

10-bagger and more is quite possible.

But my guess of the risk chance is 90% fail, 10% succeed.

I could Buy in either or both at any time.

That is why I post here.

P

Someone optimistically mentioned, PANR has £19.3m cash in bank.

Correction - has = had, a year ago.

Since then, no revenue, some expenses.

PANR has £27m liabilities.

This is 50% more than cash in hand, and likely to have further increased.

The £300m assets quoted are a pipe dream.

There has never been any revenue.

I was going to make an opportunistic Buy today, but now I change my mind.

I have always believed PANR is a well run company.

But bad luck and negative cash flow could mean the end is nigh.

P

Yaz18, kodal

I look at last 5 years on Google Finance, this company has never made any revenue.

Plus, Mali is a dangerous place to build a business.

And this is a similar situation to met1. No revenue, no direct mining experience, just buy investments in someone else's mining business, even though the company has not made any revenue either.

Plus owning a minority shareholding in another business gives you zero authority, you have no say or control at all.

P

Looks like WPP and SFOR are both going down the plug hole, a life's work down the drain for MS, sadly.

But why has no one seen this?

Maybe it's that four companies are receiving bulk of global advertising being MS, GOOGL, FB and AMZ.

And there is not much anyone can do about it.

Phrontist

The business has lost it's direction to become a growing, profitable and useful business.

Even though the company clearly employs many talented and hard working people.

The solution is for 'Sir' to publicly cancel his golden share, removing any special controls he possess against competitive takeover bidders from taking over 100% control.

Phrontist

Old holder, someone is kidding you.

I own property in east Ukraine, not far from the Enwell subsidiary mining locations.

Russian people are not just left to own businesses in the middle of a very nasty war.

The Bank I used was effectively nationalised a year before the war started. The Russian founders were spending depositors money, they are arrogant and have no respect for Ukraine people or laws.

I am surprised that Enwell has not been nationalised, perhaps legal financial issues relating to establishing ownership through Cyprus companies and Banks.

Equally, I am surprised the alleged Russian owners have not sold their Ukraine investments.

My/our position is, under normal situations, Enwell seems a very good long term investment with likely many years of production and growth.

Successful legal action against the Ukraine government is a pipe dream ATM.

The only thing that could change that is, Russia gain control of all land east of the Dnipro River. At one stage this seemed likely, in which event Enwell LSE other shareholders (less than 20%) would lose our holding within weeks.

Under Russian laws it is easy for them to dump western ownerships.

Anyway, it is possible the tables of war are turning, many assess Russia will lose badly and be humiliated.

Then Enwell share price will rocket up, regardless of the alleged Russian ownership.

But still in all circumstances, getting damages from the Ukraine government is never going to happen. It is war.

P

Cowboys

Low to no info is Modus Operandi.

Accounts half yearly not quarterly.

Always late.

No forward or strategic planning info..

'We' could be selling ice cream tomorrow.

P

Who are the biggest beneficiaries of an S4 Dividend?

The substantial numbers of directors and founders arising from MS's takeover bids for dozens of new subsidiaries in 2022 and 2023, by way of part cash (now an S4 loan debt) and S4 - subsidiary share swap.

Any 'spare cash' should be used to pay down the Loan Mountain not for 'share buyback' or share dividend.

P

There has never been a need to move 82% of ENW's shareholder ownership to a structure of Smart Energy companies in Limassol, Cyprus.

Ownership of these holdings is withheld.

Clearly the Ukraine government suspect this ownership is of Russian nationality, even though they may get Cyprus passports.

As we all know, Russia has invaded Ukraine, with over a million Russian passport holders, so far, have moved to the Russia illegally occupied land in south and east Ukraine.

So, it is not surprising that the Ukraine government are not inclined to let Enwell simply make heaps of money in Ukraine only to transfer 82% to Cyprus, then possibly Russia.

I have owned Enwell shares in the past, now sold, and have followed them keenly. But until this possible Russia ownership is fully understood, I think buying these shares again is a risk.

If anyone can add correction and/or further insite, I would appreciate this.

P

Laura was answering my question on how much cash we can expect being put into the bank, and that is a good answer.

I agree money must have been spent, including a big chunk in the USA, out of the blue, quite frankly.

Where is our strategy talk?

Are Metals One selling out of Scandinavia?

Will that exercise be a profit or a loss?

Or, is MET1 investing further in Scandinavia and the USA concurrently?

The directors are not speaking to the shareholders, this is not good. There will always be some speculation, but at the moment it is wild speculation.

Perhaps when the AGM comes up, we should examine if director managing is working for the shareholders.

Or themselves?

P

Thinking about the MC (shareholder value) of £30m+, it is high IMHO based on the founders and directors lack of a meaningful track record in this business.

They really need to tell us investors what they are doing every day. I don't see any action plan at all.

And no quarterly accounts at all.

And I am not sure WHEN half 2025 year accounts will appear on an RNS for us to actually see this cash in the bank.

P

Thank you Laura, that would be excellent.

The company has probably spent some money on themselves, but compared to £13m or so, that should be quick small.

They should be giving shareholders some specifics about immediate exploration activities, where, when, cost, expectation.

After all, this is meant to be a rare mineral mining company based on high Western world needs.

So far all they do is shuffle paper.

P

I have not selected hold, buy, sell actions because we have no idea how much cash is in the bank account.

2024 Accounts indicated only £40K cash in the bank.

Liabilities of £464K could not be paid due to zero revenue.

First mineral product revenue is 2 years if lucky, but nothing is forecast.

The 2024 accounts give almost £9m assets, all mineral speculation.

Shareholding has been massively diluted by director action.

The share dilution was on the basis of considerable £ cash receipts.

We are 8 months without any advising RNS on this topic.

So why is the share price over 1p ?

The directors must pull their fingers out and give tangible reasons for shareholders to cling onto IMHO.

P

Thank you Laura,

Does anyone have a guess or know when the 2025 Half Year accounts will be out?

P

540,000,000 will have been issued by 4 August 2025.

At an average sell of 2p/share, receipt to MET1 should be £10.2 million.

Where has this money gone?

Phrontist

Anxiety , I appreciate your concern and comment. I am here to invest and wish to understand better where the SP should be.

We should be better advised by the directors how much cash they have put into the business during 2025 based on the vast increase in shares issued.

Clearly there is some value on the Scandinavian and USA leaseholds but I personally have no idea.

Enthusiastic speculation shows belief in the business, but these leaseholds need cash investment to identify resources levels.

I am all ears to read opinions on this.

This is what these blogs are for, to communicate thoughts and facts.

Phrontist

Please check, I look in Google Finance:

Shares issued Dec 2023 were 21 million

Shares issued Dec 2024 were 330 million

Share dilution 330/21= 15.7 times

Cash at bank Dec 2023 at £750K

Cash at bank Dec 2024 only £34K

Cash reduction whopping 22 times

Cash at bank anytime in 2025 - unknown

To my mind 2p sp would be good.

But reality is, we will not know a qualified valuation of resources for quite some time yet.

Phrontist