Member Info for Professor1

Hi Caravan

Indeed it is a very sad situation we have to cope with. And, yes the run to the safe heaven. Juniors like PAT with good portfolio are and will continue to draw attention and hopefully before long from the big investors.

Agree - it will be pounds. GLA

Eurasia mining one of only 20 companies to feature in the Climate Portfolio

https://www.proactiveinvestors.co.uk/companies/news/937584/avacta-clipper-logistics-eurasia-mining-and-persimmon-feature-in-broker-s-new--climate-portfolio--937584.html

Mickey

Indeed Labola and Bido looks even great.

Hi Caravanboy

From the evidence I found from one of the Indian legal sites, we know that the govt of Rajasthan want to be an equity partner in this project (see para below) and that their desire was to have a 51% interest. Legally though, they are not entitled to any BUT our management want to have an "amicable agreement" to this.

" 15. Respondent no. 2, followed the order dated ...........The said order went on to state that, RSMML (i.e. Rajasthan State Mines and Minerals Limited) could, however, enter into a joint venture with a private investor, subject to RSMML having a minimum of 51% share in such a joint venture ".

So its anybody's guess the type of structure this will take but my own view is that we will retain control. One thing we know that our CEO want to build a long term relationship with the state govt.

The other very important thing to note from the previous announcement is with regards to the arrangements PAT has with Galaxy - the company announced:

" The company has also stated " Pursuant to the amendment announced today AND UNLESS FURTHER EXTENDED, the Term Sheet will now on 30 April 2021 ".

The above wording "UNLESS FURTHER EXTENDED" was not included when the Term Sheet was extended previously - so why include this condition now? To me it all looks like the deal with the govt of Rajasthan is taking a step closer and we should come to hear about this soon.

AS PER THE RNS:

" If the transfer of the Kalaka project does not occur on or before 14 January 2021, unless extended, Panthera will retain its interest in the Kalaka project".

The only reason I think this has arisen now is that we are going to get a lotta lotta funds from entering into a JV elsewhere!!!!!!!

Hi Womo

Although it is not explicit in the RNS, the timing of this coincides with the Bhukia listing on 5 Jan.

Also, what is this "internal corporate restructure"? The timing of this announcement is also not co-incidental!!!!

Hi Womo

The only reason, although not explicit in the RNS, I think there is delay in Kalaka, is the urgency on Bhukia, the listing for which is 5 Jan.

What is the " internal corporate restructure" mentioned in the RNS? Nite that it is coming at a very critical juncture!!!!!

Imac /Mickey and all

Happy New Year. The way RNS has been worded seems to infer that they were busy elsewhere and that can only be Bhukia

I think they were meant to progress Kalaka during holiday period but they needed to give more importance to our Bhukia project in India - its very obvious!!!!!!

Mac4671

Thanks for the recap. These are potentially VAST resources here. My thinking, and I could be completely wrong, is that the reason for all the delay we are seeing is as far as MT is concerned, as it is huge, it could be beyond the means of the bidders to make any kind of outright acquisition. Hence, it is likely that for this part, there could be a JV of some sort. However, before a JV is finalised, and to stop the bidder having ridiculous terms / farm-in payments, EUA is probably carrying out just enough of the required works for the additional 25m ounces as they did for the 15m ounces for the Farm-in type Agreement to take place. It could even be a 3 party consortium deal due to its size. The longer this is taking, I view it as a very positive development for us all.

An old article on Norilsk Nickel tokenisation of palladium

https://www.ledgerinsights.com/blockchain-palladium-tokenize-norilsk-nickel/

Happy New Year all.

Rubic
I think the Board have engaged well with the local govt to have an amicable agreement and so no need for big muscle. In fact big players appear to be ruthless in ripping off juniors in my personal opinion.

https://www.kitco.com/news/2020-12-31/Platinum-and-palladium-to-run-higher-as-industrial-demand-picks-up-in-2021.html

Excellent projects - AND so many of them. If these were in Australia, the share price would have been many multiple of the current sp. But, I believe results will speak louder and will get noticed by the big investors in due course.

I am going to spend some time now looking in detail at Basala and see what we have there.

In the meantime, a very Happy New Year to all.

Being in the shoes of Mr Schaffalitzky in bringing this company to this stage and that after 20 whatever number of years - most of us have been here not that long so a little more wait should be fine!!!

Good morning

Looks like we are gearing up nicely for an update.

Hi Burtom

Long term holder here, in Omi and EUA. I am hoping for the sale news of EUA so that I can split the proceeds between PAT and OMI.

Lets see if any news tomorrow on the JV.

GLA

Hi Burtom

Agree and with respect to Bhukia, I think it is important that investors realise that legally, as per the Indian Law, we have complied in all respects with Section 10 and there is "no valid reservation of the GoR over the land area at the time MMI obtained the RP" and that is the reason we have a Stay Order on the mining area granted to us. And, also " the positive interaction to date with the GoI " mean that some sort of Agreement is only a matter of time and not if. The reason, I believe, for the extra time requested by both parties is to enable the lawyers to thrash out all the legalities for whatever Agreement to function properly. The Rajasthan govt want to take part in the JV, which legally they cannot, but the PAT management have said that they wish to reach an " AMICABLE" agreement for all concerned. I strongly feel that we will maintain control with at least 51% holding which the Rajasthan government have said they desire but legally cannot have as per Indian Law.

***** 51% of the potential Tier 1 resource of 10m ounces will send the share price into orbit *****