Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Foor Wrote, very eloquent.............
You’re of Russian descent, a CEO of a company with 66% of its operating assets in Russia. You have nearly all your wealth tied up in the company; your brother owns 24% of outstanding shares in the company. You have done a pretty good job of running the company prior to a couple of swinging dicks decided to start throwing munitions at each other through no fault of the company. The company is domiciled in the country seen as a Russian enemy; the company is primarily listed on the exchange of a country which is seen as a Russian enemy.
You have not been sanctioned, the company has not been sanctioned, the company has not been suspended, the company has not been delisted.
Your share price has no reflection on the company as an ongoing concern; the market cap is prime for a hostile bid. Your company was once valued only two years ago at 11.5 billion dollars, now valued at 1.25 billion dollars, and to be fair not a lot has changed regarding the company as an ongoing concern.
Now what do you do, or what do you not do? You do not start blowing a big trumpet by announcing great financial s; you keep production on track, but load up on debt in Roubles. You do not buy back shares, which with current cash in the bank; you could remove 25% or even 50% from the current 330 million pool of tradable free float. But you do not, as this would hinder the debt accumulation and bring unwanted attention. You keep CAPEX high, debt a bit frothy, make the company look not too attractive, and just keep your head down.
The company is today valued at 1.25 billion dollars with a possible free cash flow 23/24 of 600 million dollars. What’s not to like?
https://www.miningweekly.com/article/russia-linked-gold-miner-polymetal-may-list-in-abu-dhabi-2023-03-27
Polymetal International may list in Abu Dhabi, becoming the first company with majority Russian operations to trade in the Middle East, as the gold miner re-domiciles from Jersey to Kazakhstan.
Polymetal is in advanced talks with the Abu Dhabi Securities Exchange as keeping its London listing after re-domiciling is proving difficult, according to people familiar with the situation, who asked not to be identified as the matter is private. “We are studying the listing at ADX, but no decision is yet taken,” a spokesman for Polymetal said by email.
The United Arab Emirates is benefiting from Russian money and trade flows since the invasion of Ukraine, leading to Western concerns that it may be helping to ease the impact of sanctions on Moscow. Polymetal is not sanctioned.
Other companies with Russian roots are also looking at listings in the UAE, although they haven’t taken steps toward doing so, two other people said, without naming any of them.
Polymetal, which has its primary listing in London, is studying moving its domicile to Astana, the capital of Kazakhstan, after the Kremlin banned sales of strategic assets by owners in jurisdictions it considers non-friendly after the invasion of Ukraine. Shifting to a Russia-friendly domicile from Jersey would open the way for Polymetal to pursue a plan it announced last July of splitting its Russian assets — which account for 70% of its sales — from the remainder in Kazakhstan.
Should Polymetal make that change, it would be considered a foreign company in the UK, forcing it to issue depository interest on its shares to keep a London listing. CFO Maxim Nazimok said on March 16 that the miner hadn’t so far managed to find a provider of a depository interest program, and was considering a Middle East bourse as an alternative. It would also have a listing in Kazakhstan.
Foor Wrote, very eloquent.............
You’re of Russian descent, a CEO of a company with 66% of its operating assets in Russia. You have nearly all your wealth tied up in the company; your brother owns 24% of outstanding shares in the company. You have done a pretty good job of running the company prior to a couple of swinging dicks decided to start throwing munitions at each other through no fault of the company. The company is domiciled in the country seen as a Russian enemy; the company is primarily listed on the exchange of a country which is seen as a Russian enemy.
You have not been sanctioned, the company has not been sanctioned, the company has not been suspended, the company has not been delisted.
Your share price has no reflection on the company as an ongoing concern; the market cap is prime for a hostile bid. Your company was once valued only two years ago at 11.5 billion dollars, now valued at 1.25 billion dollars, and to be fair not a lot has changed regarding the company as an ongoing concern.
Now what do you do, or what do you not do? You do not start blowing a big trumpet by announcing great financial s; you keep production on track, but load up on debt in Roubles. You do not buy back shares, which with current cash in the bank; you could remove 25% or even 50% from the current 330 million pool of tradable free float. But you do not, as this would hinder the debt accumulation and bring unwanted attention. You keep CAPEX high, debt a bit frothy, make the company look not too attractive, and just keep your head down.
The company is today valued at 1.25 billion dollars with a possible free cash flow 23/24 of 600 million dollars. What’s not to like?
Foor Wrote, very eloquent.............
You’re of Russian descent, a CEO of a company with 66% of its operating assets in Russia. You have nearly all your wealth tied up in the company; your brother owns 24% of outstanding shares in the company. You have done a pretty good job of running the company prior to a couple of swinging dicks decided to start throwing munitions at each other through no fault of the company. The company is domiciled in the country seen as a Russian enemy; the company is primarily listed on the exchange of a country which is seen as a Russian enemy.
You have not been sanctioned, the company has not been sanctioned, the company has not been suspended, the company has not been delisted.
Your share price has no reflection on the company as an ongoing concern; the market cap is prime for a hostile bid. Your company was once valued only two years ago at 11.5 billion dollars, now valued at 1.25 billion dollars, and to be fair not a lot has changed regarding the company as an ongoing concern.
Now what do you do, or what do you not do? You do not start blowing a big trumpet by announcing great financial s; you keep production on track, but load up on debt in Roubles. You do not buy back shares, which with current cash in the bank; you could remove 25% or even 50% from the current 330 million pool of tradable free float. But you do not, as this would hinder the debt accumulation and bring unwanted attention. You keep CAPEX high, debt a bit frothy, make the company look not too attractive, and just keep your head down.
The company is today valued at 1.25 billion dollars with a possible free cash flow 23/24 of 600 million dollars. What’s not to like?
https://www.houseofborse.com
WE PROVIDE PROFESSIONAL AND CORPORATE CLIENTS THE OPPORTUNITY TO TRADE WITH TIER 1 BANKS AND INSTITUTIONS ON TIGHT SPREADS, WITH ULTRA FAST EXECUTION AND AT INCREDIBLY LOW-COST. WE OFFER A BROAD RANGE OF INSTRUMENTS, INCLUDING FX, INDICES, COMMODITIES AND EQUITIES. BEING REGULATED IN THE UK BY THE FCA ENSURES WE MEET THE HIGHEST STANDARDS OF CONSUMER PROTECTION AND CUSTOMER SERVICE. OUR GOAL IS TO PRESERVE OUR CLIENTS’ INTEREST AT ALL TIMES.
https://financefeeds.com/noor-capital-acquires-uk-broker-house-of-borse/
Abu Dhabi investment firm Noor Capital has acquired a majority stake in the UK institutionally-focused brokerage House Of Borse Ltd, a regulatory filing with the UK Companies House shows.
Established in 2005, Noor Capital is a UAE-based brokerage firm, dually regulated by the Department of Economic Development Abu Dhabi, and the Securities and Commodities Authority (SCA). Its diverse and multinational shareholder base includes the UAE, Kuwait, Kingdom of Saudi Arabia, Qatar and Bahrain.
Noor Capital offers its proprietary trading platform specifically for stock trading, named Noor Capital Stocks. Besides the dedicated stock trading platform, the broker also supports the MetaTrader 4 (MT4) terminal.
Founded in 2012, House of Borse is licensed by the UK regulator since 2016 to operate as a matched principal intermediary for a range of investment types, focusing primarily on institutional and professional clients. The company offers a similar core service as traditional prime brokers, and as a market facilitator and aggregator, it provides clients with direct market access to a wide range of bank and non-bank liquidity providers and ECNs.
https://unherd.com/2023/03/how-russia-and-china-overtook-the-west/
For the past year, Nato countries, led by the US, have strived to nudge the rest of the world into providing military aid for Ukraine and sanctioning Russia, in the hope of isolating the latter. They have, by and large, failed on both counts. Western officials might point out that 141 of 193 countries supported a recent UN resolution demanding Russia withdraw from Ukraine, but the 32 abstaining countries included China, India, ****stan and South Africa — which alone account for around 40% of the global population. Despite the West’s attempts to “globalise” the conflict, only 33 nations — representing just over one-eighth of the global population — have imposed sanctions on Russia and sent military aid to Ukraine: the UK, US, Canada, Australia, South Korea, Japan and the EU in other words, those countries that are directly under the US sphere of influence, which in many cases involves a significant US military presence. The remaining nations, comprising close to 90% of the world’s population, have refused to follow suit. If anything, the war has actually strengthened Russian relations with a number of major non-Western countries, including China and India, and accelerated the rise of a new international order in which it is the West that looks increasingly isolated, not Russia. Since the invasion, China has hugely increased its purchases of Russian oil, gas and coal, while exporting far more machinery, manufactured products and high-end electronics in the other direction; they have boosted their bilateral trade by more than 30%. The two countries have also committed to significant investment and infrastructure projects through the Shanghai Cooperation Organization, the world’s largest regional grouping in terms of geographic scope and population, which also includes India, ****stan, Iran and all the major Central Asian republics. Moreover, as a result of Western sanctions, they have been forced to rely on rouble-yuan trade instead of using the dollar, which has enhanced the yuan’s reserve currency status. On last month’s anniversary of the Russian invasion, Wang Yi, Beijing’s most senior diplomat, said that China was committed to “strengthen[ing] and deepen[ing] the Sino-Russian friendship” and “promoting mutually beneficial cooperation in all areas”. Even more significantly, the two countries have increasingly been speaking with one voice about the need for a more balanced international order, explicitly framing their collaboration as one aimed at weakening the West’s dominance in global affairs. China, in particular, has implicitly embraced Russia’s view, espoused by foreign minister Sergei Lavrov, that “this is not about Ukraine at all It reflects the battle over what the world order will look like”. In this context, it should come as no surprise that Beijing and Moscow have maintained the steady pace of their joint military exercises, nor that Xi is due to meet Putin in Moscow
NATO’s relentless eastward expansion, in the teeth of explicit promises by every 1990 Western leader that such expansion would never occur if Russia accepted German reunification, withdrew its troops from Eastern Europe, and dissolved the Warsaw Pact; Invitations in 2008 to Ukraine and GeorgiAnd -- don’t forget -- that was an act of terrorism directed not merely against Russia, but against America’s close ally Germany, for whom those pipelines were the key to its industrial competitiveness and its population’s well-being. What would be the consequence, for NATO, for US -- European relations, for the governments of Europe, for the image of America in the world, if that astounding act originated in the Biden White House?
The West needs to change course in Ukraine, and fast. If it continues to prolong a war that cannot be won, to double down on past blunders, to deliberately engender in Russia a sense of isolation and threat, it will find itself soon at the point where that war can only be continued by direct insertion of NATO troops to replace the tragically depleted and destroyed Ukrainians.That way -- the insertion of NATO troops -- lies the serious possibility of civilizational annihilation. Because, whatever happens on the conventional battlefield, the Russians will not tolerate the conversion of Ukraine into a vast military base of the United States on its front porch.
NATO’s relentless eastward expansion, in the teeth of explicit promises by every 1990 Western leader that such expansion would never occur if Russia accepted German reunification, withdrew its troops from Eastern Europe, and dissolved the Warsaw Pact; Invitations in 2008 to Ukraine and Georgia to join NATO, well known at the time to be as totally unacceptable to Russia as the Soviet Union’s attempted similar conversion of Cuba in 1962 was to the United States; US deep involvement in the 2014 coup that deposed Ukraine’s democratically elected, pro Russian president; US installation of sophisticated weapons systems in the new NATO countries, including Poland, the Baltics and Romania; andThe Biden administration’s 2021 treatment of Ukraine as a defacto member of NATO.The motive for Russia’s sending 190,000 troops into Ukraine on February 24, 2022 was its perception of threat (see above), and an eight year war by the corrupt Kiev regime against its Donbas population. The claim that Russia’s move into Ukraine was the first step in its supposed lusted-for conquest of Europe is a ludicrous, transparent lie. Those who utter it don’t believe it for a minute, and not one knowledgeable student of international relations believed that Russia posed an aggressive threat to Europe at any time since the collapse of the Soviet Union in December of 1991. The claim that in Ukraine Russia is motivated by world conquest would be laughable, if that piece of propaganda had not been so ubiquitously parroted by the Western media and therefore swallowed whole by an inattentive, barely conscious public.The media’s lies about the alleged motivation for the conflict, and its understandable total silence about the pertinent history that would expose those lies, is echoed in its reporting on the progress and state of the war itself. To judge from mainstream accounts, Russia is always losing, being bled to death, its defeats huge, its victories negligible, its military hardware and ammunition nearly exhausted, suffering massively greater casualties than its enemies, and has been greatly weakened as a military power regardless of the war’s outcome. One day Bakhmut is militarily “irrelevant,” the next day we are told it’s being held to the last man because its fall would open a route to further Russian conquests toward the west. Vladimir Putin is dying of -- take your pick -- cancer, Parkinson’s, dementia. Vladimir Putin is unpopular, about to be killed or deposed, surrounded by foes, etc., etc.All of this is desperate propaganda by Western elites and their media mouthpieces, who are slowly beginning to realize the magnitude of the catastrophe the Ukraine war they provoked is becoming.And while the war goes on, beads of sweat are beginning to appear on foreheads of important Western leaders, as the real possibility emerges that the US government blew up the Nordstream pipelines -- which would be one of the most enormous acts of terrorism in history.
https://www.americanthinker.com/articles/2023/03/the_uss_march_of_folly_in_ukraine.html
One tries to read widely on the state of the Ukraine war, though it’s extremely difficult to cut through the fog of propaganda and obvious lies. But slowly, the picture of a determined, slow-moving, grinding, painful Russian victory emerges. Ukrainian casualties are almost certainly at unbearable, unsustainable levels. Closest guesses are in the range of 250,000 KIA, orders of magnitude greater than Russia’s, which draws from a vastly larger population. Ukraine is losing a generation of its male youth, all to prop up a declining US planetary hegemony.
The vicious, confused, criminally reckless tyros running US policy, and deliberately lengthening this destructive and immensely dangerous, unwinnable conflict, are indifferent to the ruin of Ukraine and the mass deaths of its young men, mere cannon fodder to those who walk the corridors of the State Department and Pentagon. As they are indifferent to the unthinkable consequence that might be the final issue of this war.
This war need never have happened if Kissinger’s, and many others’, proposal for a neutral, non-NATO Ukraine had been accepted by the US in 2021, as Russia reasonably requested, and if Ukraine, at America’s direction, had ceased its eight year, US-sponsored war on the Donbas Russian speakers and Russian ethnics, and had enforced the Minsk II accords.
A neutral Ukraine, no US weapons systems within Ukraine’s borders, an end to Kiev’s ruthless persecution of the Donbas population … and the result: No war.
But the US Military Industrial Complex wanted a war and got one. The object: To bleed and weaken Russia with a Vietnam-like quagmire, thus, per US neocon deep thinkers’ fantasies, one of the two nations able to say no to America is removed from the short list of countries impeding their dreamed-of US sole dominance of planet earth.
The outcome of this totally US-provoked war may be much different than the one that fevers the wet dreams of America’s neocons. Russia appears to be surviving US sanctions quite comfortably, as new customers pop up in Asia for its natural gas and other vital resources, its ruble remains strong, 80% of its people apparently support their government, Europe’s, particularly Germany’s, economies are in free fall as the cost of US liquified natural gas exceeds the cost of demonized Russian pipeline gas by huge multiples, and as the BRICs develop new trade routes and payment methods in Asia and across the global south, threatening the dollar as the world’s reserve currency.
All of this, and the risk of nuclear war with a Russia that does in fact feel threatened by the US Military Industrial Complex’s thirty year pattern of gratuitously aggressive behavior toward it, including:
Totally agree CT.
Low MKT Cap high debt otherwise Nesis is out of work.
Interesting today the Sp held on. I wonder if the market is cat ching on...
Nesis can only cry Wolf for so long.
That performance i in January a CEO calling it fatal. Oscars should be awarded.
He's the shark alright.
The BOD have intentionally played things down now for almost 18 months. Nessis was moaning about cost push inflation in August 2021 probably had an idea then of the current environment. Hence the so started to fall back from the 1700's.
He's playing the market keeping debt high to stave off a hostile takeover while making sure the company are out of the sun.
It's continued bad doom and gloom.
Sooner or later he'll either have to acknowledge that this company is close to bust or Fess up and start paying a dividend and take care of the debt.
He's a player and it's keeping the so suppressed but he don't want a hostile takeover. I mean 1.2 bill it's a steal. This low MKT cap will attract buyer's without the Cliff hanging debt.
He's playing the long game. Hoping the war ends. We'll see if he succeeds.
1,236,322 shares bought this after in one gulp.
Sooner or later the retail free float will be exhausted. Butnot today it seems.
24-Feb-23 13:48:47 247.2644 500,000 Unknown* 235.00 245.00 1m O ?
Odd eh? 247.2644 Above offer price.
24-Feb-23 13:48:47 247.2644 500,000 Unknown* 235.00 245.00 1m O ?
Odd eh? 247.2644 Above offer price.
konan100 enlighten me?
There was a 1.2 million volume sell a few weeks ago at 217p, that went back into the market at 253p this week, nice work if you can get it. They are after stock now, so hold on tight folks, down it goes again.
Yep I'm waiting for 10k at 200p. Was out at 275p, I'm a patient old bean.
I'm wondering whether some of the big volume traded this week is the ADR receipts being loaded on the LSE? Loaded and then cancelled as they are already owned?
Balls of steel needed by retail to hold a big pot in here. Its why they are retail
The company will be aware of how many shares are held in HL, II, etc nominee accounts.
I bet its a lot less than eleven months ago, this could drag on like this for years. Management will just keep digging dollars up, and the pantomime continues.