Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Cheers CF. A binding offer isn’t a binding agreement, just a promise by a buyer to pay a certain price. Puts the onus on the seller to accept or reject, but has to be announced to shareholders. I find it strange that neither of the serious interested parties has seen fit to test our resolve with a binding offer or bid, especially when we have, according to MC, a world class resource. It would be interesting, once the process is over (an we are all rich😄) to see a timeline of the last 18 months actions and process behind the scenes. We’ve all speculated so much with so little communication. That won’t happen but I’d love to know of all the machinations. GLA as always.
Are we to assume that the 2 producers are making increasing offers without a single one being binding? Any binding offer would need to be put before us lot. They can’t finalise any deal without it being voted on by all shareholders. Can’t really understand how it can take 18 months if this is how it’s proceeding. One will non-bindingly outbid the other and we will then be told? Or both will make a binding offer and we will vote on it? Never known a sale like it tbh. Fingers xd for good news this week.
What could be the reasons for neither of the potential buyers making a binding offer after 15 months of the process. The fact there were 2 that were more interested was made known quite a while ago. Not that I’ve ever bought a goldfield before, but if it was that amazing I’d want to make a firm bid asap.
Well that proves he met him cf, and nothing more. I’d be more than happy to be wrong, but I can’t remember reading a single positive post from slim then all of a sudden everyone is hanging on every word..
I don’t know what he’d get from lying C1, but then I don’t know what someone gets from spending years posting negative comments about a share they are supposedly invested in. What motive could there be. Has he been invested for years? He has posted for years but I haven’t seen the share register.
Same goes from why Jim would tell some random that we are almost over the line.
Anyhow, I guess we will know one way or another pretty soon, tho even if a deal in announced today it doesn’t mean what we’ve been told is true. I’d have h to ought that after years invested here we’d all be a bit more sceptical.
Fingers crossed we can all ecscaoe here unscathed and perhaps even in profit.
I emailed MC a few days back asking if a deadline has been issued to interested parties to submit a binding offer. Didn’t ask when it was, obviously, but if one hasn’t, then what would his reasoning be behind that decision.
No reply as yet.
GLA
Wouldn’t 5 months since site visits, with no binding offer coming, show a lack of interest from potential buyers. We’ve been led to believe there might be 10m oz in them that hills and yet these eager buyers seem distinctly reluctant to snap us up. Already overran Marks 6 month process promise. I don’t get the feeling there are many or any champing at the bit to swallow us up. Usually wrong about these things (LTH in KEFI ffs) so hopefully wrong here too
What is the likely turn of events? If there’s only 1 firm bid will we vote on that, and if there are multiple votes will we get to decide? With the board recommending one or another? Might the shares be suspended until a conclusion? Haven’t been in a company that’s sold assets/company before. TIA and GLA as ever.
Just about everything we post on here ends up being wrong. Tick up coining and down we go. 40p by the weekend and now we’re not even in the 30s. Gold consolidating above $2000, and what happens? Mark was wearing a red tie and looked to the left when he said blah blah and that must mean it’s Calibre who will make the first bid. Thank heavens we aren’t paid for making predictions. Just hope some good news breaks soon as I want to sell up and get off on holiday. It’s imminent. Nigh. Any minute etc etc. You wouldn’t want to be out over the weekend eh?
The SP here never quite behaves as we expect does it. Think we are in agreement that it was an underwhelming performance today given yesterdays interview etc. It would b be grand if the news of 4 bidders so far could be RNS’d rather than twittered. Anyhow, anyone interested in some idle speculation while we wait for the SP to outperform our expectations. Just for the kudos of looking like you have a clue about CNR. When the sale was announced and we were 15p, I’d have said 35p might have been doing well. I’d say now our first confirmed bid might be 70p. Any advance? GLA as ever. Having bought my first shares pre-consolidation I’ve had more than my fair share of time for speculation.