Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Good post ideas, although the penalties for any Company to disregard any of the 'requirements' raised, are never enforced. ( to my knowledge).
Most of us are aware of 'any information that will affect the share price must be notified by RNS ASAP. Or words to that effect.
I do think any investor in AIM shares must have a healthy dose of cynicism. The timing of any 'market sensitive' information will always be such as to maximise the dealing profits of BOD friends and family.
The one tranformational change for me from '22 to '23 is no posts from Aandii on either 'huge pipeline of orders' and 'research note' Thanks. Keep the good work up.
Another huge change that is needed is the majority of BOD, out.
It should be stressed that the primary reason car FCEV sales is so poor, is the price tag. This is down to the cost of the FC. Multi layer Proton Exchange membranes are not overly complex, but are expensive owing to the present use or rare earth metals.
This cost will reduce with scientific advancements. FCEV have obvious advantages over BEV, weight and distance. In the USA, tests are being done on bridges to evaluate their integrity if majority of usage is BEV's. This is a Republican led exercise who is in the pockets of Big Oil. The advantage of EV over ICE are too numerous to mention, especially FCEV. The major one is obviously pollution.
H2FC for all other methods of transport is overwhelmingly a positive.
Is PHE up to the challenge to be an environmental Crusader by safely disposing of waste plastic and tyres, with an end product of Syngas/H2. The progress to date suggests not. This is almost certainly a leadership problem.
BTS has been promoted to alpha in The herd, mainly thanks to the 'recommend' by the previous incumbent westie. The alpha has now reverted to the 'primary' reason for no ESIA, no water, reservoirs are only 25% full. It has been this way for some time, and EML BOD have no idea how to overcome this. Drought has been a problem for 2 years, and BOD has been aware of this ( we hope). The Kingdom is going to need Noah's rainfall to alleviate this problem, and this is not going to happen overnight. We can now surmise from alphas thought process, that the ESIA is a long way off, possibly a year or two, or even longer, in the absence of significant rainfall. Morocco has now entered the dry season ( not a good sign), and if the expected rainfall between Nov and Mar fails to materialise, as last season, then if agua is the reason for no permit, a long wait lies ahead. When do options to mine expire?
Of course, all this is speculation by everyone, in the absence of commentary from BOD. Again Herd mentality excuses the lack of comms from the BOD in the alpha statement;
'The trouble with saying "they need to get some news out" is if it isn't confirmation of the ESIA then it's really not that newsworthy at this stage & holders will criticize them for it..
Really.! BOD is getting plenty of stick now, even from some Herd members, and I suggest a commentary on the what is being done to ameliorate this situation is wanted rather than not.
In a nutshell, as an investing strategy, if one believes that H2O, or lack of it, is the reason no ESIA, the sell now, because it isn't going to rain until at least Nov, and then the ESIA will not drop overnight, and buy back in when you have your mobile on 'flood' in Morocco.
This is not investment advice, do your own research.
VH, thanx for the reply, and apols for the wrong nationality. People have been called worse things than being German.
We shall have to disagree on the future of H2, but it was good to see you are in the environmental camp on GW. Nuclear has many detractors, but with new generations of Advanced Nuclear design coming to the market place, it will have a place in Global Energy.
The incompetence of the BOD of PHE has made it a laughing stock with me, and I suspect many investors.. The technology can work, and as previously stated, the prime mover should be the safe disposal of waste plastic, and tyres, with a profitable byproduct. DMG compact size can be installed in a variety of situations, preferably near a feedstock source. The big question is, I suspect, for many investors, 'can this BOD finish the job.'?
Forget the comments ( oh, you have) from Swazers. He's a very hurt boy. None of his charts work, and like Trump, he accuses everyone of all the things he is. He is a total incompetent.
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This is generates most of their profit. Tesla have cars with a million miles on their electric motors with no servicing. Of course, suspension, brakes will need servicing, but not major costs. EFCV have no gearbox, clutch and the whels are direct drive. What's not to like. For petrol heads, it's the lack of 'grunt' JCB has mfrd it;s own H2 fuel ICE, with promising results. Either Honda or Toyota are developing a H2 ICE, The mfrs will not go down without a fight, They still want to retain the 'expensive' servicing and spare parts of ICE.
Finally, GW deniers ( mainly OG vested interests, such as Republican lawmakers in USA who receive personal cash amounts to 'expand- the industry' ) need to be asked one question. 'What if you are wrong'. The answer is an inhospitable Planet, on which the human race will likely not survive. Run away GW. If GW deniers are right, and we do spend $trillions on restructuring all our energy requirements, we will have clean air to breath, no lung damaging particulates or carcinogens. Can they put a price on that.
I did not mention the Holy Grail of energy production. Dare I say it, oh, please, dare, dare ( apols to Blazing saddles), Nuclear Fusion. Not this decade, or next, but will come. There will not be a facility in our 'backyards', but transmission will be less of an eye sore, and more efficient in 2, 3 decades, and all wireless..
We can only hope that PHE BOD hs sufficient acumen and drive, to make DMG a working reality. I see the main plus of DMG as the means to remove the mountains of non recyclable waste plastic and tyres from our environment. Syngas, H2, char are profitable end products. For those of you who got through all of this, thnx.
It would be remiss of me not to mention that the contributors mentioned, all highly educated with Doctorates, Professorships, did not have the need to express that in their aliases, it was evident from their musings. Thanks.
VH, I have to get this in, as a sour kraut, your written English is excellent. I would point out one error, which many native English speakers make, and I know will help you, It is 'lose', not 'loose'. The latter is ill fitting, the former is not to retain ownership. GL, and get behind H2, you know it make sense.
Pge 1)
Excellent posts by H2h000, synxs and VH.
I believe VH has an agenda. Whenever I read articles against fossil fuel alternatives, a little digging shows the authors are OnG industry related.
H2 is expensive to produce. We are familiar with steam reforming methane process as the cheapest source of H2, but with a massive C footprint. This footprint is being lowered by use of C scrubbers and other methods, but still has a large footprint in extraction and distribution. The most favoured process is electrolysis of water. ( there is RnD at present, and showing good results using sea water as feed stock). Detractors point to C footprint of Solar and Wind generation. The life span of wind turbines and solar pnels has been put at between 20-30 years. This will only get better with new panel materials and vertical wind generators.
H2 is expensive and dangerous to transport. The argument is a fallacy. Every country on the planet has access to electrical generation. Ergo, every country on the planet can produce H2, and can produce it near to it's where it's needed. Only a relatively few countries have OnG reserves. There is a large C footprint, and dangers, in both it's extraction and delivery to point of sale. Then add costs, and C footprint in the amount of concrete, steel used in construction of extraction operations, refineries etc. Of course, with DMG, a plant can be literally 'on site' where syngas and/or H2 is required. The storage of H2 in populated area is well known. Ask Air Liquide ( I believe now owners of Brit Oxygen.).
Thermodynamic considerations. Again a red Herring by VH. As mentioned by aforementioned contributors, both energy density and volumetric energy density of H2 compare very favourably with FF's. .
As previously stated, any electrical supply can provide H2 where neede. Other sources of green electricity not mentioned are geothermal and hydro. Not every Country has mountains and dams for the latter, but under every Country is a thermal source, some deeper than others. It is only money that stops this from being a renewable source for millennia.
HFC have so many advantages over ICE, there is no time to mention them all. The present cost of HFC in cars is prohibitive because of it's high proportion of the total selling cost of vehicle. It will be noted that several high cost marques have HFC options. An crucial factor in sales of HFC cars is lack of refuelling stations. This is a classic 'chicken and egg' conundrum. The case for HGV's, buses, trains, ships, aircraft is totally different. The FC cost is relatively low cf cost of item. All of these modes of transport have Depot refuelling., and in many cases could produce H2 'in depot'. Within a generation or so, it is possible that ships will be mfg H2 in situ from sea water.
The motor mfrs have ben reluctant to embrace H2FC as a power mode. This is financial. They have an extensive Worldwide presence of franchise based dealers and spares suppliers.
A prime reason why options are taken up now is tax consideration. I believe there will be a tax liability on the 'profit' attributed between the option price and the prevailing price. As of today that is 1.25p ps. EML now has PDMR's with upwards of 30, 40, 50 millions shares. Naturally, this only makes them rich if the company succeeds. Be aware of any PDMR share sales in near future. Interesting that Graham said 50p a share for his millions held. The FS he had in his hands a few years ago would equate, at full production, and ore prevailing price at time, to a much higher MC than c£500M.
A few of the Herd , toward the end of Q1 were confidently forecasting ESIA by end H1. They were not keen on being drawn into .'when will you start to panic'. It's only 3 weeks to end of H1, so no need to panic yet. However, I would seriously suggest that if no ESIA by EOY, panic mode should be set at 'full'. Between now and then, if no ESIA, there will be 'bargain basement' for Herd members to fill their boots. The 'upside' at full production, is you having your full investment returned 2x a year by way of divis. Get bigger Boots.
2)
ted only transformed. The main argument put forward by detractors is the cost of producing H2. This will fall as innovation and RnD gather pace. If GW is a reality, then it is only a matter of time before Nations realise there is no alternative but to follow a H2 based energy economy.
Yes Ideas, the language from the BOD has been 'everything has been done' . Although failing to issue an ESIA at this time would be a momentous step for Moroccan Authorities, it might also include a Caveat that 'events may change in the future', and an application then might be better received. This event might be rain of Biblical proportions. However, I do not think ESIA is a 'given'. The lack of communication from BOD is shockingly bad, even more so when I was told by e-mail that a QnA was imminent. Strange that anagram of 'imminent' is 'mint mine'. Mint can mean in pristine condition, as in unused. An unused mine. oh dear. Are we all victims of a ghastly lexicon game by the BOD. Time will reveal all.
ATD. Oh dear. your rant on peckers and your scoring success puts you firmly in manual labour territory. westie put my age at 20-30, obviously based on my musings and wit, and devouring you time after time. Your responses have only been your feelings of being inadequate. Your musings put you at 13. Take a rest.
FoxyJoe. Your sentiments can be summed up in this adage;
The prime mover of any BOD member, especially CEO, of an AIM listed company is to secure the financial wellbeing of themselves and family. If the company is a success, that is a bonus.
Todays RNS just stated go to website. On the website, under heading AGM, it only repeats the RNS. A closed loop. No details of AGM to be found, unless it's hidden'. What a shambles. I sent a message, waiting for the 'it's imminent' reply.
Atd. lol. 'they cant force the Govt to issue EISA'. You are one of the guys posting it's a 'given', so your comment leaves open 'not awarding EISA' What it can do is offer a working solution to the water problem. It appears BD have not got a clue. AS far as speaking at the 'African' event, EML was not invited by Morocco, it's just another BOD perk, holiday in the Sun, probably took families, enjoying the largesse of EML. The Moroccan newspaper article posted on here several weeks ago, intimating the EISA was 'imminent', has obviously not been read by Moroccan Authorities.
I'm still waiting for a reply to my mail of 30 May. Thnx in advance.
Dshox. sometime ago there was a significant sell off of HFR, and Reg Auth. wanted to know if there was a reason that had not been reported. LSE has same rule. HFR replied that it knew of no reason. 2 or 3 days later the co announce a share issue at a much discounted price. Of course, the share sellers were obviously aware of the upcoming issue. This is one of many ways BOD members, family and friends get rich. Difficult to prove, but obvious.
ATD. Must have took you ages to try and pick bones in my post on the above, and couldn.t find anything so you come up with spurious differences on DCF for NPV calculations. ( you will have to look that up as well). As for your ramblings about it being listed in Oz, my examples clearly showed the currency as it was reported, and then shown in GBP for clarity and comparison purposes. You are suggesting some of your fellow posters do not have sufficient intelligence to know that an Oz listed co. may report in US$ or A$. However, the cos reporting figures in OZ always state $ or A$. Simple really. There are many similarities between EML and HFR. Resource is the same ( bonus for EML it also has salt). Both are inclined drift mines. It is naive to compare sp of both cos. They have widely different shares in issue. . !B v 390Msue. The main metric is Market Cap. MC, HFR c £120M, MC, EML c £50M.
I find your comment very strange that you think EML post EISA ( If and when) will remain at 5p. I can assure you it will not. Please expand on your reasoning. The answer is not on Google, sorry.
chisler. c1 ( cash cost/tonne is universal in any mining or extraction industry, and gives a relatively easy ebitda figure.) the all inclusive cost, aic, includes all the other metrics that c1 does not. ie: tax, interest payments on loans, depreciation and amortiation., plus costs to run the business. deducting aic from revenue gives profit. to arrive at cash flow metrics, the 'non cash' items, depreciation and amortisation can be added back. the 'running costs' of a co, once reviewed from a p&l a/c, are generally similar from y 2 y.
the big difference between the 2 cos in 'the upside', 20x and 60x for hfr, eml respectively, is the large difference in ci costs. $91, $50 respect. the figure for eml was lowered since in gw62 earlier post, it was stated income from salt sales were credited to potash c1 costs. ( obviously does not affect overall profitability of mine.).. although i stated the metrics of ebitda showed eml to be a more profitable gamble ( investment), a crucial fact may tip the balance. in the illustration i provided, outputs were the same, incomes were the same, and it is highly likely total costs to ore extraction will be similar. the defining metric for sp long term is payment of divis ( this is how bod get mega rich, since many shares are given free as bonuses, or a are highly discounted.). divis are generally only paid once a significant part of the debt to construct the asset has been paid, and is often a %age of the ebitda. for example purposes, let us use 50% of ebitda distributed as divis.
eml ebitda $250m, 50% is $125m divided by no of shares, 1b, gives div per share of $0.125 or c 10p. so , for s/h with av sp of 5p, their money is returned twice every year ( less tax).
for hfr, ebitda is $209m, 50% is c$ 104m, divided by no of shares, 390m, gives a divi per share of $0.27 or 21p, current sp is a$ 0.60 or c31p, hence initial money cost if bought at 31p is returned every 8 months, and eml is every 6 months.
of course, every one of these quoted figures is subject to change. selling price of ore, capital costs, %age of ebitda when mine is fully operational, and of course, intangibles. but on the metrics given, eml again comes out in front.
last night at 10pm brasil time, i took out a position in hfr at 32.5p. premium price for an overseas stock with swiss broker, and a dealing charge of £50. on the face of it, hfr is all set to construct, starting eoy, however, as we all know, bureaucracy can grind to a halt 'the best laid plans of mice and men'. obviously a problem 250 yrs ago.
this is not investment advice, it is playing with numbers , for comparison purposes on the back of a *** packet. seriously. dyor.
KR stated the problem is supply of the feedstock. Caramba, Holy Ghost, is he from this planet,? has he not been reading the news about the millions of tonnes of non recyclable plastic going to the sea, land fills, being incinerated. ? Total BS. There are are literally 100's of refuse collectors, public, and private, many with sorting facilities. It is BS to probably hide the technical problems. A Red Herring.
Posters stating the 'common sense' phrase ' prospective customers need to see a DMG working' before a commitment, should have been asking BOD several years ago , following the collaboration with Peel, 'you are putting the building of FOAK in the hands of a 3rd party. Are you effing crazy'. Answer, yes they were, and still are.