Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Excellent commentary Riv. We now just wait for WHI to issue their own rigorous analysis to derive an SP-target somewhere in the range 9-10p, and then we can all benefit from today's figures :)
I have to agree with dbentley's erudite and succinct summary of today's dismal RNS.
The final machinery was due to start arriving on site in "March and April", based upon shipments occurring during January/February. The latest RNS pushes the equipment arrival to April, with no mention of shipment dates. Significant shipments usually trigger an RNS. The probability of a further delay beyond April is surely materially high. In my view until the Cashew enterprise is generating meaningful business, it should be regarded as a liability, and there are a few hurdles still to clear before that happens.
But the "delay" Rivaldo is not just a few weeks . I refer you to the update from 15th June 2021:
"The majority of the remaining containers have been shipped and those remaining will be shipped within June (2021) and are not holding up current works."
It is a question of trust. Until the Cashew processing plant is processing at meaningful capacity, it should be considered a liability. So close yet so far :)
Project Start:
Project Status: The project is on track to deliver on time until there is no time left, at which time the project clock is reset and we might as well go back, ad infinitum, to "Project Start:"
Project End:
Judging by early buying and selling activity, it would seem the market (including sain@vision) had already aligned the share price to the impending Corteva agreement :)
For me, the trading update paints a dire picture. There is a marked changes in ST's language, moving away from the "imminent" message of the last three years to "expected to start this financial year" statement. The financial loss surely accelerates, with borrowing increasing to worrying levels, in the absence of new systems contracts. SRT's business strategy is not entirely credible, with the droning on about the pipeline of projects becoming tiresome. It's all beginning to sound nothing more than an ST pipedream.
Results broadly in line with expectations it would seem!
zac0_4, Welcome to my world :)
Abaco Capital was returned to my account today, but there hasn't been further information on the OXP shares as far as I know.
Thanks Phil, excellent contribution to the board. Whatever the Q2 figures are (good or bad), your approach to forecasting the numbers can be tweaked accordingly.
Thanks eshaitan, very helpful summary.
The cream needs to rise before it turns toxic!
Brent, I believe the project needs a mere $52 million to get the mine into full production. Is that correct?
The four contracts remain at the advanced stages, but ST seemed less sure about their immediate imminence, although he was confident that contracts will eventually be signed. It is unclear how he expects the Ocean Scan project to be architected, designed, built, tested, implemented and live in early 2019, when the Satellite provider isn't yet known. Space projects are notoriously hard and generally take a very long time to realise, and are somewhat expensive (particularly where bespoke requirements are in play), especially for a small company like SRT. I don't think it is likely that a significant revenue stream can come out of Ocean Scan during 2019, even with the experienced expert programme manager plucked directly out of ESA. However, should it be pulled off along the lines of ST's timeline, with the anticipated revenues following on, it will surely be judged as a remarkable achievement, and should lift SRT into and beyond the stratosphere!
"any day now" is presumably based on the completion of the four contracts that have been imminent for over six months?
Rivaldo, your ramping on CAR wasn't appreciated by many and I would suggest you temper your optimism here until more data is in hand.