Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
RNS noted from Mayan Energy #MYN this morning. We are very encouraged by new 80 bopd breakeven point and clear focus on cost control. Ditto re adequate resources comment. Looking forward to operational update next wk with full update note to come thereafter. Happy holders.
Ref Mayan Energy #MYN Fielded a few Q's re note update. We are awaiting production update which is due imminently.
no drop at close......still my beating heart!!
"Ref Mayan Energy #MYN Remember they hold just over 1m warrants in PQE through Deloro holding with strike of 90c. This alone now has value of @ $350k too (with 3 yr life) and growing by the day."
"Ref Mayan Energy #MYN Feels like the incessant selling of last few months is finally drying up. We are due a production update soon which we expect will catalyse a re-rate back beyond the placing price of 0.6p. Adjusted for cash, BLOE stake & PQE rump biz valued at just over £4m."
Unfortunately presently restricted on Mayan Energy #MYN In answer to Q's why stock is here we guess summer doldrums and continued creditor selling. Holding just over 40m and, when able, also to buy more we believe the price a nonsense.
A couple of weeks ago a buy or sell of about 3 or 4 hundred thousand shares would have been enough to move the SP, since 1st of March over 12m have been sold yet the SP is static...whats going on? I still have faith in pfp but I don't expect a result until after sept when the Moz supreme court start clearing up for the end of the year, as I am staying put until there is a result I don't really mind that in the meantime if the sp plummets as I would certainly pick up a few more.
Tend to agree Goldminer, the General knows that there cannot be a court decision until the end of Feb so he could be playing for time, so giving it to the end of March seems reasonable which would be around 6 months since we were made aware of a possible deal. I think that Align are just stirring it because having just arrived they want a quick return (so do I) but I am not sure that calling for the head of Nick Trew is the answer in the middle of what must be delicate negotiations especially in that he has, by all accounts, hired a quality Moz agent to oversee it ( at a cost of 25% of the co if successful). Obviously when things seem to be moving, as they are here, then rumours are bound to arise, Align have got hold of one, some others have been posted on this board and I suspect most, if not all will turn out to be b*llocks
Messy might just be on to something, Linkwood holdings seem to have offices in both Singapore and Hong Kong, it could be that they are raising capital or it could be that they are acting as a go-between for a Chinese Co interested in taking Pathfinder over, after all Chinese investment in mining in Africa is massive and growing. It could also explain why everything is taking such a long time Being taken over would solve a lot of problems and the General could retire with a massive bung without loss of face. God knows what the shareholders would get but whatever it is it would be positive. One other point is that Linkwood holdings were paid in shares and not cash "for ongoing services" so presumably they are optimistic of the eventual outcome
I top up whenever I have a little spare cash and will hold to the end, I reckon news will leak before we get an rns so this is why people jump in whenever there are a few buys, nobody wants to miss the massive upside
Businesses report the judiciary lacks efficiency when it comes to settling disputes and challenging government regulations (GCR 2015-2016). There is no discernible pattern concerning commercial dispute resolutions, which are settled privately or not at all (ICS 2016). Rulings issued by foreign courts are usually recognized and upheld by the Mozambican Supreme Court (ICS 2016). Enforcing contracts is a very lengthy process, averaging 950 days at a cost of 119% of the claim (DB 2016). Mozambique has ratified the International Centre for Settlement of Investment Disputes (ICSID) and has acceded to the New York Convention 1958 on the Recognition and Enforcement of Foreign Arbitral Awards. From here http://www.business-anti-corruption.com/country-profiles/mozambique Sort of hopeful but judging by this could be a deal longer yet