Member Info for Poppyseed

Not to mention the possibility of being the actual listing vehicle for Oyster or GWIK. For the latter, check out the NL and PRS connections and benefits about to arrive due to imminent AIM listing for i3, thereafter leaving GWIK the need to complete its new deal and get its listing back. Just a thought....

Hard to be precise but with things now said to be in hand, probably within 3 months. Interesting to note that debenture will convert into shares within days of AIM listing, meaning PLMO could sell some or all into what may be a strong aftermarket at say 20% profit and still have the warrants going forward. Nice little earner for a few months investment and great potential to recover their working capital situation without needing another raise themselves.

Based on PLMO's HoA as previously announced, debenture financing announced yesterday by Oyster looks like the one. http://www.oysteroil.com/s/news.asp If so, 10% per annum in the meantime (can be taken as even more Oyster shares) and conversion at C$ 0.50 OR 20% discount to the AIM listing price, whichever is the lesser, plus equal number of warrants convertible @ C$.55. So, pegged 20% below what others will be paying on listing, plus warrants. Nice! AIM listing currently being progressed. Looking good!

Mr. Christopher Neo has been an Executive Director of Alpha Returns Group Plc since January 29, 2013. Mr. Neo is consulting for a trading firm seeking to acquire and develop several mining projects in Malaysia and Indonesia. He spent most of his professional career in International Trade and has traded in more than six countries throughout Asia Pacific inclusive of China, India, Malaysia, Indonesia, Vietnam and the Philippines. Mr. Neo specialized in coal, iron ore and previous metals. He led his team to successfully execute more than US$ 30 million worth of trades for a coal trading firm within his first year. Mr. Neo has successfully completed more than US$ 100 million in trade turnover till date. He served as a Director of Early Equity Plc from July 17, 2012 to May 1, 2015.

Yes, would seem the wording of the RNS was almost meant to be misunderstood and no PRS holdings RNS from Beaufort to add to the lack of transparency. Hopefully, this slack observance of corporate governance will be an early target for GAEA, assuming they do indeed have long term alliance ambitions and are not just in it for an opportunistic full takeover in order to sell off the parts for themselves. Either way, I'm betting NL should be receiving a wake up call some time soon...

That new PRS shares were issued is not in dispute. This is indeed correct. My point is that they were not issued to PLMO because no new shares were issued by them. Rather PRS bought their stake from existing shareholders, Beaufort being one such party, issuing new PRS stock as payment and leading to Beaufort's (recently disposed of) significant shareholding in PRS.

...Polemos never held shares in PRS so no overhang ever existed from that direction. True, the RNS at the time suggested PRS had issued shares to PLMO in exchange for stock but all that RNS really says is that PRS stock was issued to satisfy the £150k price of the acquired holding i.e. it does not say it is new PLMO stock being acquired and it does not say to whom the new PRS shares were issued. In fact no new PLMO was issued for this transaction so clearly PRS bought the PLMO shares from an existing holder. Who? Check out PLMO news and the same day RNS showing Beaufort going from 227.5m to zero and hence the large Beaufort holding in PRS. So now they have offloaded what remained of their PRS holding. Heaven knows how that strategy all works out for Beaufort but they're gone now and there sure ain't no PLMO holding in PRS waiting to hit the market. Red herring, never existed! Still need to see conformation that this last lump has been picked up by safe hands but if so and if a positive catalyst emerges, all big ifs based on past form, but stock could get very tight, very quickly if it comes to pass.

The total of Beaufort shares now taken up by GAEA or by them and somebody else have presumably been overhanging the market for some time. Can't be bad in respect of a tighter market for stock if we see the whole lot now in the hands of "a significant and supportive shareholder..." as NL puts it. If we were then to see a catalyst that brought in some decent buying activity, the question would be how much loose stock there'd still be to satisfy demand. Looks like NL may have pulled off the mooted need for share buybacks in order to tighten the market by a simpler and cheaper means. If nothing arises sooner, just 6-10 weeks for both a quarterly update and the final results so I would hope to get good insight into current value and future strategy in this timeframe. Certainly can't see GAEA taking this sort of stake and watching grass grow against the backdrop of a questionable strategy of using a scattergun to tie-up valuable cash in sub-1p, listed AIM shares/shells like PRS shareholders have witnessed for way too long. High time for an active shareholder to give things a bit of a shake! Looking again at today's big trade and the date of the last RNS/GAEA's purchase. Wouldn't be surprised if there was an initial purchase agreement with an option to purchase the rest within 30 days. For me, everything pointing to GAEA still accumulating....

Not Polemos. Seller was Beaufort again. Check out last RNS and exactly how many Beaufort had left - and we know who took the last lot off their hands! All getting very interesting, especially if we're told it's GAEA that's picked them up again. Would take well towards the 29.9% they're allowed before making a full bid. Why would they do that? Because the sum of the parts is worth at least twice the market cap. On the other hand, the strategy may well be just as NL describes: Paternoster is pleased to announce that it has been informed, on 10 March 2017, that GAEA Resources Limited ("GAEA"), a trading company based in Hong Kong, has acquired 230,656,957 existing ordinary shares in Paternoster, representing a 22.7% interest in the Company. GAEA operates within the natural resources sector and has excellent financial and commercial relationships in the Far East. Paternoster believes that this new alliance will provide the Company with enhanced access to attractive investment opportunities and additional capital. Nicholas Lee, Chairman said: "I am very pleased to welcome GAEA as a significant and supportive shareholder and believe that, going forward, this relationship will be highly beneficial to the Company and its shareholders. This investment by GAEA clearly underlines the value proposition at Paternoster". Either way, something long overdue may be set to stir...

Reckon Beaufort holding was/is most likely part of a fund management set up so, if true, would only need reporting by Beaufort as the owner of the fund or funds. That said, the RNS looks to be incorrect by overstating the Beaufort % before the sale - states 15%, reckon 13.87% myself and now, as stated, 5.59%. So still something like 14.42% or 155m shares gathered by GAEA not accounted for by RNS announcements of consequent reduced holdings. This figure broadly equates to the Rowan and Prentice holdings so agree currently looking the most likely source. Definition of shares not in public hands is laid out in AIM Rules. http://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/aim-rules-for-companies-july-2016.pdf Glossary page 30 refers. Taking also the definitions of "Related Party" and "Substantial Shareholder" (pages 31 and 32) into account, shares not in public hands boils down to any held in Treasury; those held by directors and in any Company Share Scheme; and those held by anyone with a 10%+ stake. So, as you say, Much2Learn, currently GAEA plus NL but Rowan and Prentice holdings would not previously have been included very recently though Rowan holding might well have been included prior to any placing which took his holding below 10%. As I alluded to previously, I think the once mooted share buybacks (which may well have arisen because of these 22.7% shares overhanging the market) may well have been resolved by another means. Certainly it is fully consistent with the Interim statement saying "...Strategic steps to be implemented to address under-valuation..." when NL also now refers to the GAEA holding as "a new alliance" and "...this relationship...". Every suggestion of an active shareholder and not before time. Still though awaiting an update on the capital reduction said to be under consideration in the Sep 16 Quarterly Update and the prospect of a distribution to shareholders "...Given the strong growth of the Company's underlying portfolio and good levels of liquidity which is continuing into Q4 of 2016, the Company is currently considering implementing a capital reduction in order to create distributable reserves. This would give the Company both the option to provide a distribution to shareholders and also to acquire its own shares, both of which should provide an increased real return to shareholders and allow flexibility with regard to capital structure going forward. A capital reduction would require shareholder approval and the Company will provide a further update on this in due course..." Not having mine for .4p lol. Too many good things going on and the significance of the GAEA catalyst not yet noticed by the market. Pretty certain the relatively near future will be very different from the past but WTFDIK? GLA

Re your question on the latest RNS, almost certainly a partial answer to your earlier question of where the GAEA holding was gathered from. Still a further 12.7% to be accounted for...

Couldn't agree more...

Should nevertheless get a quarterly update to 31 Dec sometime before the Finals - at least they did last year on 20 Apr and even released yet another to 31 Mar on 3 Jun, all before they released the Finals on 15 Jun. Previous year, the equivalent dates were 6 Mar, 6 May and 6 Jun respectively so the practise is well established and we can reasonably expect the next Quarterly update between early Mar and mid-Apr. I think it would be odd if they hadn't made a move with their share capital reduction/buyback/distribution plans by this time or why mention it when they did? So, as well as the severe discount to NAV here and presumably more already in the bag since they last reported plus much more to follow, I think the market is also acting completely blindly to the likely effects of the coming corporate action. After all, it has only one purpose - that if the market persistently refuses to reflect PRS NAV and its future prospects, the Company intends to take matters into its own hands and boost shareholder value by corporate means. Always hard to predict the future but I think we could reasonably expect that they'd not be happy if they didn't at least lift the SP to the point where fair value is reflected which must be c. 0.4p by now?? Chuck in events at PIRI and ALO and perhaps others during this process and one can only suppose that the rising SP and NAV will itself bring PRS much more retail attention, notably at a time when free float may well be in much shorter supply due to buybacks. Golden scenario?? IMHO, there is much to suggest that 2017 could see a significant turning point for the much maligned PRS. Is it Springtime when ugly ducklings turn into swans?

Yep, 2m @ 0.2049, that's the one...

Not quite in your league phenonmenonnick but my buy early on showing as a sell

Check out piece on s h a r e p r o p h e t s. He sees 20p possible near term from chart.

Impressive! https://www.youtube.com/embed/HWrdp3m_B6o

Redmond related CLEE has secured its target. PIRI an investor? MITH next? http://www.thesundaytimes.co.uk/sto/business/Tech_and_Media/article1539827.ece

Re my last on the subject, MITH looking ripe I see....

Not barking to me cos that's what I'm thinking too so have also taken a chunk of MITH onboard. I think key is that EL is said to be looking to raise £5m so it seems much more likely that it's being shaped up to fit into MITH's stated mission and the £3.4m cashpile MITH raised for the purpose. FWIW, I see PIRI more likely to be acting as facilitator to bring EL to market and probably also as an investor, helping to bridge the apparent £1.6m funding gap, presumably along with others having PR connections that are currently sitting on cash. BTW, MITH's sister company, CLEE set up by the same people and, like MITH, listed on the main market with a £3.4m cashpile at the back end of last year has already identified a satellite communications company as its target and is currently suspended pending the RTO. CLEE was assigned technology ambitions, MITH basic resource ambitions. MITH is rather behind its sister in the corporate events stakes but look what happened to the CLEE SP in mid-Feb ahead of events - EL could very easily be about to fit the bill for MITH.