Member Info for tbow112

China, I agree with you that OG appears to have described speculation as fact.

However, by describing that action as libellous, you have clearly indicated that you yourself believe that finessing the shareholder vote is reprehensible. It will be interesting to see if you maintain that position.

"But i was."

And as I am not even in the UK I am hoping that you will provide us with an account of the meeting.

The question was directed specifically at China in the light of his statement that OG"s post was libellous. Quite obviously that original post cannot be libellous unless the action under consideration is in some way reprehensible.

It will be interesting to see what China has to say in the future.

So, China, if it turns out that Pensana have done as OG suggests, you accept that that is clearly reprehensible ?

Unless I have misunderstood Chinas post it seems that Cascade are getting £1 billion worth of pie for £160 million.

"which allows PRE to become cash positive in just one year rather than two."

But for existing shareholders it remains a very expensive way of becoming cash positive.

" whereas in reality a negotiated deal like this will usually carry control, country and structure discounts "

Perhaps it should be pointed out that when people want things they usually pay premiums.

I don"t know where this idea that discounts are somehow natural came from, but in reality simply being able to buy a large stake without moving the price against you is a major concession.

Come on, DS, let"s see your version of the figures.

Definitely a meeting that shareholders should try to attend.

Forget that last post. It looks like I need new glasses and read the wrong footnote.

One aspect of the more recent deal is that Cascade will avoid an investment in Coola.

Can anyone think why this might be considered advantageous ?

That sounds rather like counting chickens whilst the eggs are still in the hen.

China, Why would anyone bother about your models if you cannot even read English carefully or do a simple calculation. You asked a question which asked for a list of crap stocks - I provided one.

That does not mean that I selected those stocks for any other purpose, or nor even that I might have made a significant profit on any that I have purchased.

"Cascade taking a 38.2% share in Sable means that they are also taking a 26.13% share of the forward Ozango Debt"

And presumably, with the previously proposed arrangement, they were taking a 20.5% share of the debt.

"After a comprehensive analysis of this new structure......."

China, perhaps you would be prepared to provide us with this comprehensive analysis ?

FWIW Google maps says 32hours from Johannesburg to Longonjo by road.

Strangely an email has appeared in my inbox pointing to post by PA which states

"What better location to sign a US$160 million equity investment agreement that once approved will be a catalyst for our Longonjo mine development and U.S. downstream ambitions than a spectacular clifftop, cantilevered James Bond villa with panoramic Cape Town sunsets!

Big thanks to FSDEA, U.S. Government for their support, advisors ABG Sundal Collier and to the Pensana team for pulling this transformational deal together."

The message would appear to confirm that Cascade and the FSDEA are somehow connected.

"The fact the share price is now 116p is neither here nor there."

Using the current share price is entirely appropriate as that is as near as we can get to the deal which is actually proposed. Trying to use an out-of-date share price is simply misleading.

Paying £40+ million to raise £120 million is not expensive. Surely you are joking.

"How did you get to participate in the 18P OFFERING?"

https://www.lse.co.uk/rns/TUN/subscription-and-proposed-placing-gjkdlgs6l10krc2.html

The arrangements were totally inappropriate for a publicly quoted company.