Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Corporate action or clsong shorts ? whilst any discussions would legally have to be disclosed it does make you wonder if there was indeed a buy out potentially being discussed for certain acreage and the SP simply got ahead of itself which put a halt to discussions pending drill updates hence the climb back up from 1p. The resignation of DW and activity with Erik does indicate other things afoot driving the SP. The other physical drilling activity is dead in the water for a year with potentential dilution pending so that isnt doing anything for the SP. The only other possibility is another ramp on no foundation and a scramble to exit down and escape as there are a lot of trapped and relectant share holders with lots of money tied up. If youre playing this game dont be the last one holding the baby with a bigger loss than you had initially albeit with a lower average, This could move backwards very quickly again... be careful all and do whats suits you purpose as everyone has their own agenda / average and timescales.
Theres could still be large naked shorts being covered from highs of over 4p so different reasons to purchase than expected news or fundamentals of 88e.
There isnt anything suspiscious going on , in what is a high risk investment in high technology exploration everything isnt as straight forward as digging coal hence the risk reward profile and high likilihood of failure. There has clearly been complications with the wire logging whether weather or technicially induced the end result is the same which isnt uncommon.
I do believe the resource is there as clearly does Eric too. The reward for the next drilling campaign you could argue is less as there will be additional dilution to the share register and certainly less hype driving the SP north which has been the case now where sucess to many here now was irrelevant as the hype was simply a vehicle to make money whilst ensuring someone else was holding the baby when the music stopped.
There could be corporate actions still in play and maybe the silly inflated SP has put paid to that for now ??
Re tsome of todays large orders , tese could quite easily be brokers covering naked short positions against last weeks 4p SP, if so they are the only winners here on the massive volumes.
I think the SP will fall in the absense of any positive news and may offer a good opportunity for those with patience and the strenght of will to average down and hold until next year or maybe piggy back any positive PANR updates in the area spiking interest once again.
good luck all and to those that arent happy with their current position then think carefully to not repeat the same errors.
it may of been force meajure , 88E may of been offered the chance to delay the drill, there may not of been a contract sufficeintly covering failings etc etc....we'll never know
I wonder if brokers had naked shorts expecting this are have hoovered everything up this morning the clear orders from last week?. With the volumes across the markets and also the arbitrage they have cleaned up big time albeit the exposure would of been massive trying to cover if things had gone the other way
Just looked at the latest PANR RNS and they state that blizzards over the last few days had caused logistics issues with drilling , i wonder if the weather could of been some of the reasons for the fxckups especially considering it was now or never for this year before having to down tools ie under other circumstances would they of delayed wire logging etc. We dont know the cause of the power loss etc. Anyway the milk has been spilt for now but could well be cream next year !
Be careful anyone thinking of averaging down as whilst we may well rise from this morning bottom and some will clearly be making a quick day trade without any alternative catalyst for a rerate this will drift until the next campaign as interest waines and you may well have funds locked in for another year before you have a chance to exit having tied money up to exit without a loss / such a loss. The fat lady isnt singing as the oil hasnt gone anywhere but time and additional dilution for any new activity needs to be considered if no buyout before next season and or PANR success does lift our boat. If you wont hold this for a year then dont hold for a day.
Expecting severe action 1st thing before recovering somewhat though the day when things settle after the initial scrabble to sell and the MM's play games. I dont think we;ll drop below 1p as we have learnt more about the potential resoorce and know there is oil to be had. This isnt a duster beauses there isnt potentially commercial oil , its a duster because of technical fxckups.
With added interest in the area due to licence restrictions the game is a long way from over. Unfortunately the level of SP has no bearing on the certainty of everything going to plan and commercial oil being discovered. The contractor taking shares supports the logic and belief that we have something of interest albeit we are back in a holding pattern again.
Everybody take stock before the morning and think carefully you actions like some havent unfortunately done so far having been swept along by the tide of hype.
ps for transparency... i have sold some to protect capital and have enough riding that im comfortable with and arent trying to influence people in any way.
Agree totally with some of the comments on here in terms of how cavalier some people are. If that comment applies to you regardless of whether youre buying , selling or holding please give yourself 5 minutes to consider your position in terms of how much youd like to gain and much you can afford to lose and act accordingly before any news lands and the decision is out of your hand.
Good luck all , make the right dcision for your own circumstances and have a good weekend.
price all over the place at the minute with a misleading wide spread masking buys and sells.
As we had no sell off on Friday and weve just been given another teaser for a week then id expect us to climb throughout the week albeit not as we have so far. A few more may sell in advance of concrete news that have been trapped with high averages for a couple of years. An interesting week ahead.
P when we hit 4p on the last spike there were a lot less shares so lets not all get carried away until commercial viability confirmed.
good luck all
see below...
As expected the £7 mark appears to be a ceiling currently but hopefully we consolidate support here which wont be a bad thing and and move forward on the next trading update or hopefully sooner when people digest the grwoth that is going on here .
1.59 to buy so has already gapped up to the close on ASX.
CURRENTLY UP 18%...
Sorry did someone mention theres a short open on 88E ?
Hopefully some positive news in a weeks time and we havent just issued some confetti
Current position some musings :
Hostile shareholder with 20% stake ( major shareholder) withdraws funding.
Share price rose from 2p up to 6p and started to decline upon news of deal.
Heavy selling takes sp down to 2p where it starts recovering.
Logically youd assume AE will accumulating all the way up to the supposed deal being completed making considerable money and have potentially either sold down to a level that they wont sell below hence a new support level today , or will be looking to buy cheaply on the way back up to increase their stake at bargain levels. So in essence three scenarios from A/E perspective:
1)look to offload everything at best price available ie 2p support
2) continue to add to their position on the cheap and maybe progress towards 30% albeit easier said than done. As above, 2P secure in this scenario with A/E buying what they can at a given market price. People will see their game if too aggressive and heavy buying will commence unless buying disguised via 3rd parties.
3)do nothing having made some money whilst maintaining existing holding of 20%. With a good understanding of ARS financial position they will know funding required and in all likelihood ARS will even in a weak position get a raise away that whilst diluting A/E’s own position will remove uncertainty and lead to a rerate of the SP without AE having to do anything / committing any funds thus benefitting their holding.
Any of the above options are possible from a hostile takeover to selling down the full position but either way A/E wont be looking to destroy their own value they have accrued having spent such effort to play out this dishonest game.
My conclusion no real downside at these levels so expect strong buying until the SP gets to a point where it may be worth A/E selling down again if this happens to be the given scenario from the above.
We have Assets with broker coverage around 11p with commodity pricing and demand only strengthening so we wont be having a fire sale and this may indeed draw out parties for a friendly take over/ prompt a hostile bid, either way positive for the SP.
Where is there any downside around here at 2.5p aside from another raise with some dilution albeit the business carries on towards delivering fair value when things settle ?
A/E cant lose from their current position , its just a case of what they do or are forced to do but ultimately they decide one of the three options unless they want total control and in that respect the SP will be much further north than 2p. Ars don’t know A/E game but must press on shore up finances, once this is done then all outcomes short and medium term deliver a best SP than 2.5p
Aside from A/E we have other parties with large stakes who wont be dormant in watching their value destroyed by this bunch of crooks. i'm expecting solid buying until the SP is considerably higher around say 4p even with people knowing a raise is on the way as thats the path to security against 5p
SP looking very solid so hopefully we can maintain and ultimately close above £5 which would be an obvious point where people would consider selling albeit with the buyback programme and with such positive recent news this should deter any short term profit takers. Exciting times having been massively down since Blinx days.
Looks like we are stabalising around 2p which was previous resistance . If we can hold 2p with decent volume this will form solid support pending further news. Think a correction was due following the pre xmas rise. Happy to add further at these levels albeit on a longer term view the price around here matters not.