Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Akorn- I am involved in Leicester clothing trade and quite frankly the Sunday Times and others like the Mail are stirring up a hornets nest over nothing.
Boo Hoo have a team of compliance officers active in leicester and have foir many years.
The real problem is that some landlords do not maintain the buildings which gives a false impression of what is going on inside the factories.
Most observe social distancing protocol.
Noone is forced to work if unwell or for any other reason.
I know a factory with only 8 staff turning up as others stay away due to lockdown. Normal staff numbers are around 30.
Its an issue that will always be around as long as clothes are made in cheap wage countries like Bangla Desh ,India and China too.
What goods are not produced in China these days?
If I was a trader I would pile in to Boo Hoo stock.
Just spent 1 billion buying up Pretty Little Thing.
Totally oversold.
Pretty sure we may see an RNS re holdings.
My bet is NCM will sell off the book to another major.
Thus the bidding war will start.
Any major would be happy to grab 15% of Solg at a premium to what NCM paid for their 15%.
Thinking aloud as relations sour.
Nick has a backup plan no doubt
Cute and very smart operator.
Takeover target SolGold has snubbed its two biggest shareholders and most likely suitors, BHP and Newcrest Mining, by signing up to a high-cost loan that has left the big miners ''concerned'' and ''disappointed''.
SolGold chief executive Nick Mather signed his company up to a $US15 million ($23 million), eight-month loan with interest rates of 12 per cent on Monday, despite the fact SolGold's flagship asset is years away from first production and the company has no other source of sustainable revenue.
The unorthodox move highlights the unofficial battle for control within SolGold, which has found an encouraging copper and gold deposit in the jungles of Ecuador.
SolGold has been largely funded by share placements to BHP and Newcrest over the past four years, and that approach has resulted in both big miners owning more than 14 per cent of SolGold.
BHP and Newcrest have both signalled they are willing to continue subscribing for shares, arguing that equity is the cheapest source of finance for a junior explorer.
The Australian Financial Review is aware of four SolGold shareholders who believe Mr Mather is keen to avoid a situation where BHP and Newcrest's collective stakes in SolGold grow to exceed 50 per cent, the threshold that could allow the big miners to control the company on matters of common interest.
SolGold's finance manager, Ingo Hofmaier, provided some insights into the company's thinking in a statement on Monday, describing the Franco-Nevada offer as "competitive".
"SolGold received and considered a broad range of funding options and the decision to proceed with Franco-Nevada is based on various factors, including the size of investment, the permanent nature of this financing, Franco-Nevada's experience and understanding of Latin America and the competitive cost of capital,'' he said in a statement.
''In SolGold's opinion, a 1 per cent to 1.5 per cent net smelter return will not constrain the debt capacity of the project. On the contrary, we believe this financing increases the confidence in SolGold's ability to fund the development.''
But Mr Mather's financing plans took a step forward with Monday night's $US15 million loan, which will be provided by resources industry financier Franco-Nevada.
The loan appears to be the opposite of what Newcrest chief executive Sandeep Biswas called for in February, when he urged SolGold to avoid "short-term fixes" in favour of a long-term solution that suited existing shareholders.
A Newcrest spokesman confirmed the company was unimpressed by the debt decision.
"We are disappointed they did not approach their supportive, existing shareholders for funding,'' he said.
Cash Today, Royalty Tomorrow at Alpala - SolGold plc (TSX, LSE:SOLG, BUY, C$1.50 target, Jacob Willoughby) - SolGold announced that it has entered into an NSR financing agreement with Franco-Nevada (TSX:FNV, Not Covered) for US$100M with the option to upsize to US$150M for the Alpala Cu-Au project and the Cascabel license in northern Ecuador. The company also secured a US$15M bridge loan from Franco-Nevada. With Cu now back on an upward trajectory, SolGold’s shares should continue to rebound. We expect the positive momentum to continue as the company advances Alpala through feasibility. Read more
It seems that Solgold had a choice of multiples as they needed more funds to continue exploration.
They say that the chose Franco Nevada, from many offers.
Pierre Lasonde of Franco Nevada is extremely smart, his first love from a young age was mining, a Canadian billionaire, don't be misled by the small staff level of around 38,
Against Barricks 17,000, as Barrick are miners.
LASSONDE and his partner built up his business in the same way as Sorros and Warren Buffet, looking for oppertunites at distressed companies, LUNDIN gold was one,
He like Buffett, does not buy the company, but helps and invests for the long term re dividends etc, over many years.
I think that the Solgold deal is a way of LASSONDE getting his toe into the water,
$100-150 FULLY SECURED LOAN, for 4-12 months at 12 per cent,
The interest will be between $4 to $18 million,,,plus the stake ????
Which I think will be converted into equity, a cheap way of buying into Solgold.
He will make others, BHP, BARRICK, NEWMONT etc think,
I think that Franco Nevada has a cash pile equal to Barrick, around $2 billion.
The LASSONDE teaching seminar video is worth watching, very smooth and pleasant,
The KITCO interview with Daniella at a Canadian mining seminar and exhibition showed
LASSONDE in a different light, as he had fought off Bristow of Barrick Gold,
In a hostile takeover for Franco Nevada, They are both smooth and not at all friendly.
Nick Mather has probably made an excellent choice, as others will be interested if LASSONDE is. Also Franco Nevada has more backing if needed. And LASSONDE is a smart investor.
I see LASSONDE as possibly ending up with a stake in Solgold of around 20 per cent,
The four month initial short term of the loan is confusing, it makes one think that there could be a rival bid,???
Please look at the LASSONDE videos, entertaining and enlightening,
He like Soros etc is a winner,
It’s early to call it but bud 40k at 25.5
Offered 250k at 25 then 182k at 28
The gap will be filled
But my guess is the 250k will disappear on the open then an attack on 28 pretty quickly
There may we’ll be a delayed auction as well