Member Info for Stuartrm

Out of curiosity, what is the view re resolution 2? This says if delisting goes ahead the company will be registered as a private company. My view is no, which will give the directors a headache. Given that my initial investment is now only worth a few hundred quid, I am prepared to be awkward as I now have little to lose.

I have spoken to Barclays Smart Investor. They say there will be no corporate action raised for the delisting and all voting will be done at the meeting that is sceduled for 20 September. They will raise a proxy vote on my behalf but they wanted a resolution number against which my wishes would be logged. There is no such number in the RNSs of 31 Aug or that of 4 Sept. They checked to see if they could place a proxy vote without the resolution number and the answer is no. After a bit of hunting we found the resolutions, 1 and 2, at https://www.pelatro.com/wp-content/uploads/2023/09/Notice-of-General-Meeting.pdf on the Pelatro website.

Hopefully that will save some of you hunting around. I am against the de-listing, by the way.

One can ony assume from the almost 3% fall in share price today since the details of the settlement were announced that these sums were considered by the market to be less than had been priced into the share price. The valuation that is placed on the company seems to me to be influenced primarily by the vagaries of Court decisions. In short, Courts come up with such bizarre judgements at times that no one wants to count their chickens before they are hatched. The result is the share price of LIM is likely to follow the awards that are actually made much more closely than the awards that pundits think ought to be made, irrespective of which method of accounting is used by the company in its accounts.

I have used cash, a Caxton card and credit cards, with credit cards being used most. All can be lost, but a lost card should not give the finder access to your cash (unless your PIN number is with the card!) Credit cards are convenient but transaction charges are generally highest and charges are made at the currency exchange rate on the day of the transaction. Cash and Caxton lock in an exchange rate which provides certainty but this may act for or against you, depending on how the currency rate fluctuates. Cash is accepted by virtually everyone while cards may not be, eg in places like Cuba. In short, each option has advantages and drawbacks and like most things in life one pays one’s money and takes one’s choice. In my view take some cash and at least one card, while bearing in mind that Mastercard and Visa are more widely accepted than some others such as Amex and Diners.

I have read through the last RNS, which seeks to explain the reasons for delisting. The document is peppered with typographical errors and it appears to have been cobbled together with little care and considerable haste. If this is the best that the directors and their legal advisers can come up with, no wonder the company is struggling. Rather than keep the directors and cancel the listing, the converse seems to be a much better option.

I had a similar thought, Leo IX. It is difficult to imagine that the new investors did not know that this was planned. Teddy Sagi and Kape Mark 2, methinks, except Kape was successful and one would be hard pushed to describe Pelatro as that.

Wagner were relatively successful in Ukraine, albeit at considerable losses to themselves. This, however, is probably not the place to debate the skills and successes, or otherwise, of Wagner on the battlefield. My point was that if the stories that Wagner are interested in extracing minerals for themselves from Africa are anywhere near right, Wagner forces being in Mali close to where Trident Royalties have an interest does not help one to sleep easily in one's bed. Caveat emptor.

While the deal as presented may seem to be attractive, Wagner is operating in Mali. The following link is a bit out of date but it gives a flavour of what is going on. Is the deal apparently good value because of the Wagner risk?

https://www.theguardian.com/world/2023/may/20/russian-mercenaries-behind-slaughter-in-mali-village-un-report-finds

According to the charts, the last day in positive territory was 3 August. This was, however, a single day within an approxmately month long slide, apart from a few upward blips, that started on 14 July. As to the performance before the rapid gain in early July, it is probably best not to go there, as it is too depressing.

To save anyone looking it up, the dividend last year was 3p so the drop to 2.25p this year is not encouraging.

Presumably the company has a limited amount of money to use for repurchases. On that basis, if they repurchase too early in a falling market, their activity will not arrest the fall and they will be able to repurchase fewer shares than they could otherwise have done if they waited. The failure to repurchase now may not therefore indicate a view that the current sub 70p is too high, or appropriate. It may just be a pragmatic approach and involve keeping whatever powder they have dry. Repurchasing when the market turns may give them more bang for their buck.

I fully understand the board taking time to ensure that the RNS is right and not rushing one out. A rushed RNS with any errors could cause appreciable damage to the share price. Act in haste and repent at leisure, as the saying goes. Regarding the price dip, yes it did necessitate an unscheduled change of underwear but longer term the share price should recover as favourable results come through. As a long term holder, I will not lose any sleep over this wobble.

Some chance! He has a knack of glossing over the ones that sink and trumpeting the ones that rise.

Tipped today by ST in the IC ........ again. Hopefully he is right this time.

Your comments about the UK and the NHS are valid, Jatw, but there is still money to be made from the UK private care sector. I do not know how much but, as a well known supermarket says, every little helps.

It would be nice to know what the Indian branch will comprise. Is it just a salesman and a phone, a design studio, a manufacturing facility, a combination of these things or what? If we knew what it comprised and more detail of what is expected by Mti Wireless from it, investors might become much more interested.

Unfortunately it did, Skeltor - as the Nasdaq went up, Molten Ventures still went down! (Sorry, I knew what you meant but I just could't resist commenting)

Https://www.proactiveinvestors.co.uk/companies/news/1020983/pelatro-plunges-after-funding-warning-as-some-customers-unwilling-to-pay-bills-1020983.html

So it appears that there are not any export guarantee schemes, insurance policies or any other similar default risk reduction measures in place. Great!

Well spotted Wobble 24. Here is a link to an update on the action from last year, in case anyone wishes to read up on the dispute.

https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4wm%2Fyhnzv%2F59%2FrFiGug%3D