Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Im happy to chat on the phone but you will have to send me an email ( check PRIM website) and let me know your contact details if you think that would be of some help
Ever the optimist. There are a lot of attractive deals to be made out there. If you find the right deal then it could be very good. Obviously since they started conversations with the original target then the market has changed dramatically and so it is important that any deal struck is on the right terms whether it is with this company or a new target.
Mike is also a decent chap and so he is fully aware of what is in the best interests of shareholders.
Cheers
Rupert
Hi LG,
If you have any concerns then I would suggest you contact Mike Ellwood. He is far better placed to answer your questions and is very approachable.
Best
Rupert
MKx007, Im glad you agree that the company needed turning around - we also did and that's what's been happening over the last 2 years and also cutting salaries to a third of the previous directors pay( although you would know that).
The directors own over 20% of the stock so clearly we have an interest unlike certain other directors of AIM companies( again this will be very clear to you)
Your opinion on the prospects of the company is 'your opinion" and clearly we differ in our opinion of where value is.
Good luck with your other investments.
Thats bizarre, the website is working on my PC?
https://primorusinvestments.com
ok, thanks for letting me know. I will get it sorted out now.
RKB, you have my number. Why don't you give me a call to discuss rather than second guessing and making ridiculous assumptions that the directors are not aligned because we managed to secure a board place on one of our investments and that we personally invest in Primorus Investments at exactly the same investment point. What exactly is your definition of being aligned?
Once again Primorus is not immune to what is going on globally. If investors do not have the risk appetite then they should seriously think about what they are doing.
I remain fully invested with over a 20% holding and still believe there is great value in the company but unfortunately the markets are being very harsh to small caps and timelines are moving as a result.
Best
Rupert
Silvernight - Prim hold zero shares in BMN
GGIS - its not the 33p options you need to think about it is the 60m that is going to get exercised at 19p first.
Anyone who is going to buy a slug of shares off LOG will want a hefty discount versus the market price. Im really not surprised at the market reaction and also I don't think the market likes the fact that the Board 'needs ' incentivising with free options every year( really poor corporate governance). They don't need incentivising as they pay themselves very well but Fiona is very weak as a Chairperson and gives into them - not great for shareholders. It's been mentioned to them numerous times but always gets ignored. It's a red flag for me, which is a real shame as the company potentially should do very well. Strong Board = strong company!!!!!!!! that's your answer.
Congratulations on the BoD swift and correct decision.
with or without sanctions - IOG needs to do the right thing
Apols got my nos. slightly wrong in that Fiona appears to have dished out nearly 30m options to management(as opposed to salary sacrifice). Maybe the message got home this year as there hasn't been the normal January handout!
I think Gasprom potentially could cause some problems(hindsight a poor choice), even if it means further delays/ legals. I think as bigger an issue is the LOG CLN at 19p for 60m shares and the LOG CLN at 32 p for 20m shares, ( not forgetting all those freebies handed out by Fiona to management - somewhere over another 10m shares in option/warrants). now here lies the problem in that the administrators have been very patient in holding their position but at some point they will have to sell their holding and or convert their CLN. This in itself is not a problem but they are going to have to offer a decent discount for an institution to take them off their hands. Whilst this is a known factor I don't think it can be dismissed as easily as some would like to think as it has and will continue to be a headwind. All these factors combined with the ongoing delays would suggest the upside is not what it should have been and depending on future timings of events then we might have to put up with downside in the mean time. Really with the favourable landscape the sp should be a lot higher but decisions have consequences.
Hi RKB,
Interesting post - take a look at the RNS 7 Oct
https://www.lse.co.uk/rns/PRIM/capital-reduction-replacement-lc708lhvcty19a5.html
This is why we went to the High Court to get the Capital reduction it allows us to distribute reserves subject to shareholder approval.
As you say it gives the company a couple of options and could reflect what I would perceive a more realistic mcap relative to NAV. Im not aware of how many other small invest Co's on AIM are in this position.
Rambler Metals & Mining* (RMM LN) – 28.25p, Mkt cap £45m – Ming Mine turnaround gathers pace
We have published an updated research note on Rambler Metals & Mining. Please CLICK FOR PDF
NPV Valuation: 168p/s
An accelerating programme of underground development is delivering improvements in tonnages processed, grades, recovery rates and copper production at the Ming mine in Newfoundland.
The recent discovery of a new mineralised zone near existing underground infrastructure east of the main Lower Footwall Zone highlights the mine’s underexplored character.
Despite relatively low levels of past exploration, the mine has an established history of resource replenishment exceeding mining depletion with recent drilling showing both grades and mineralised widths improving at depth providing a long mine life with expansion potential.
As drilling ramps up and development accelerates, the turnaround of the Ming mine is now gathering momentum with copper output expected to double the 2021 levels in 2022.
Rambler Metals operates in an established mining jurisdiction rated among the 10 most attractive places for mining investment globally.
Based on SP Angel’s long term commodity price forecast of US$10,500/t copper, we estimate an NPV6% of US$362m or 168p/share.
Rambler Metals & Mining* (RMM LN) – 28.25p, Mkt cap £45m – Ming Mine turnaround gathers pace
We have published an updated research note on Rambler Metals & Mining. Please CLICK FOR PDF
NPV Valuation: 168p/s
An accelerating programme of underground development is delivering improvements in tonnages processed, grades, recovery rates and copper production at the Ming mine in Newfoundland.
The recent discovery of a new mineralised zone near existing underground infrastructure east of the main Lower Footwall Zone highlights the mine’s underexplored character.
Despite relatively low levels of past exploration, the mine has an established history of resource replenishment exceeding mining depletion with recent drilling showing both grades and mineralised widths improving at depth providing a long mine life with expansion potential.
As drilling ramps up and development accelerates, the turnaround of the Ming mine is now gathering momentum with copper output expected to double the 2021 levels in 2022.
Rambler Metals operates in an established mining jurisdiction rated among the 10 most attractive places for mining investment globally.
Based on SP Angel’s long term commodity price forecast of US$10,500/t copper, we estimate an NPV6% of US$362m or 168p/share.
A Merry Xmas to all. Last year the Board spent a great deal of time cleaning up the Company and putting it on a great footing - one of the few investment companies which is trading at a significant discount to NAV. I have great hopes for 2022( as always DYOR).As a significant shareholder myself I will be pushing( along with the other board members) to close that NAV gap and hopefully increase the overall valuation. Remember nothing trades in a straight line, there are detractors who as they sell out become less significant every day - but that's all part of the Aim way it would appear!!!
All the best and hopefully a profitable and safe New Year.
Best
Rupert
I think the problem is that LOG have a CLN with a strike price of 19p which converts into 60 mil shares and another 20 mil warrants at 32p( Im sure AC will be familiar with those numbers). This is an awful lot of dilution and will act as a large brake on the sp until this can be cleared. S&W will need to sell some shares in order to convert the warrants.