Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Everyone has a right to blow off steam. I'm usually one of the first to step out and support AP, and whilst I expected another placing at some point between the AGM and 2019 I was very surprised that it happened so soon and at such a dismal price.
I can only speculate due to lack of information and feedback from AP that something left-of-field is on the table in Zimbabwe, or someone has demanded some upfront payment in Romania to get BP moving prior to the T2 funds arriving.
Placings are always bitter pills to swallow, but for me the fundamentals remain unchanged. I am not happy. I am maybe slightly naive.
AP has had to make a difficult choice to drop a placing for a reason that benefits or adds value to shareholders. This is in his strategy which he has always been straight down the line about.
I am not here to give anyone a pep-talk, I only ask that you consider hanging around for a few weeks, I do believe great things are heading this way, but I respect those who feel they've had enough.
Hope you can enjoy your weekends and if you do part ways, all the best.
I somewhat agree, the SP started to curve down at 0.61p last week, I believe certain SVS clients were busy hitting sell, the fact the wider market also started tanking around the same time has helped assist with a drop.
That being said, we have held up fairly well compared to the rest of the market, IMO. Copper is doing well, possibly thanks to talk of a US trade deal with China etc.
I get that, but he has to be if it's price-sensitive, we don't yet know what the placing is for but it must be something he's about to announce.
I'm as burned as you on this but there will be a legit reason for it, we'll be back up and beyond in no time.
Can't be an RNS if it involves waiting for a deal or something else, so I kind of understand the vagueness here.
Let's face it, Vast does do placings, but only because it's aggressively adding projects and assets - it's all going to come good I feel - I think all prior placings have always been for a valid purpose AFAIK.
ORT I think you're bang on, when the money is needed for a project it's unfortunate timing of where the market put us at the time.
Of course he has no intention of raising at these levels, but if we need to rock up like ballers in Zim we need to be able to slam the cash down on the table while we're there.. that's how I like to think about it.
I'm sure AP will be along at some point to clarify but if he's in the middle of a landmark deal, it may not be for a day or two..
I am unhappy at the place price as I expect every one of us is (except the SVS clients who may be quite pleased with themselves for forward selling).
However, if this raise gets diamonds out of the ground faster, then I'm all for it... AP needs to release an update to justify this one.
IMO we would be best selling PP but now is not the time, not when it's being prepped for sulphides. Once that sulphide sweet spot is hit (which extends the mine life to 20 years instead of the current 5 year oxide phase) and our other assets are up like Eureka and Giant (and maybe also Marange), then maybe worth considering a sale..
APs face on the podcast, trying to contain his excitement said it all to me, there could be some (ramp alert) transformational news to come from the next couple of week.
Looking forward to Christmas now, I am hoping I can upgrade from baked beans to a turkey dinner.
I'm one of those who's been barking about how cheap it is on Twitter but I'm not looking to sell any until it reaches fair value, and I'm 1.5p away from that stage. I don't have the time or funds to trade TBH.
As others have said many times, we need sticky hands, IIs, HNWIs etc to consume the shares. I am thinking some are waiting to buy in based on the next few weeks of news, but I am often wrong tho.
The fundamentals are solid, but some may need the cash for other reasons and for whatever reason may have decided to convert to a real loss instead of keeping it as temporary paper loss (and that's how I view it, it's all temporary) - because I see no reason to devalue the company at what seems to me as a pivotal point in it's history.
When I look back at where we were over a year ago, nobody can honestly argue we're in a worse place, and on the cusp of attracting majors to JVs, large institutional investors (who AP can't even name yet so they must be of some decent provenance) - the mind blows, well at least my mind does :)
Either folk are insane for selling, or they don't understand just how big Vast truly is (it's freakin massive), or something else going on behind the scenes??
Company has a £120-140m of NAV known publicly, should be at 2p+ based on that, and here we sit at £30m MCAP.
I am crying I don't have enough funds to add here, it's silly cheap!