Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Bharat Chowira used to work for Nektar…
https://www.evaluate.com/node/18268/amp
I don’t really understand the drop or the negativity. We have not seen any terms. It’s clearly a merger rather than a take over. Our market cap is higher and our intrinsic value is much higher on the face of it. But you would assume that will be reflected in any terms proposed. There is definitely synergy to be had. Our board would be wrong not to listen to any offers forthcoming and if it doesn’t recognise our potential we can walk away. This only gives us another option to consider.
Our board should be in an excellent position to value their immuno pipeline - perhaps better than mr market - could be undervalued after their fiasco earlier this year
My thoughts exactly Dallo
Introductions made by Invesco?
https://www.morningstar.com/articles/1113594/a-bold-fund-blindsided-by-a-biotech-blowup
Sea borne iron ore volumes holding up and port inventories slipping would suggest Chinese steel co-producers are now increasingly substituting local lower grade ore (generating lots of vanadium) with imported iron ore. This is what typically happens when iron ore prices dip below $100. So vanadium production in China likely to be heading down. Add to that the exponential increase in vrfb installations in China and steel rebar inventories now more than 30% below last years levels at this time of year and we have all the conditions of a sustained vanadium price spike.
https://www.hellenicshippingnews.com/iron-ore-navigates-choppy-seas-amid-some-positive-china-signs/
Dallo - I was referring to the Alzheimer’s breakthrough yesterday which was all over the news:
https://www.ft.com/content/531636df-e937-41f5-81c1-5195fb4acd9b
All biotechs working on amyloid based drugs got a boost yesterday and Puretechs work in this area is one of the most exciting. The article from last year was to provide some background.
Dollar rate should boost our share price in the long term but this tends to be hit and miss for smaller companies - it hasn’t made a difference for any of my other small company investments. Also the re rating yesterday was a bit too large to be explained by currency movement especially on a day that the dollar went down a bit against the pound
Looks like we got a boost from the Alzheimer’s amyloid clearing drug breakthrough today….https://endpts.com/puretech-turns-200-year-old-discovery-into-a-new-approach-to-alzheimers-while-clinging-to-controversial-amyloid-hypothesis/
Well I’ve bought some more for my sins. We’re firmly in the black and if we hold off on any more capital expenditure we will make a tidy profit over the next few years, especially with the electrolyte facility coming online. Only negative is the reduced output from Vanchem but we can hardly blame Bushveld for the ongoing load shedding in South Africa. It seems to me that things can only go up from here.
@mb you have no information to base this statement on. That rns was phrased to scare deliberately but no one knows what the real situation is
I wonder whether our chairman Brad Mills who owns a big chunk of Ramblers through his private equity firms is planning to step in to take this private. Someone was definitely hoovering up shares during the fall - it was far too easy to sell big chunks. And all the doom mongers on this forum (incl. the told you so twats who sold up but still feel the need to contribute here) are aiding and abetting him to get this at a hefty discount…
Sandfire has announced positive news flow, too. Earlier this week, the Australian group released a positive definitive feasibility study for an expanded 5.2m tonnes per year mining operation that combines Sandfire’s T3 Copper-Silver and A4 projects at its Motheo Copper Mine in Botswana. The economics are compelling even allowing for a 9.5 per cent upward revision in the projects capital’s costs. That’s because Sandfire estimates an all-in sustaining cost (AISC) of US$1.79 per pound of copper, or half the current spot price, which produces a net present value of $548mn (7 per cent discount rate) over a 10-year mine life with peak annual production of 55,000 tonnes of copper-in-concentrate. Sandfire has already invested almost half of the US$397mn of the project’s development costs, and has secured $140mn of project debt finance facilities with a syndicate of banks.
Metal Tiger’s holding in Sandfire aside, the company holds a 2 per cent net smelter royalty (NSR) on the A4 project, which has been conservatively valued at £9.7mn (5.7p a share) in its accounts, and a capped NSR over the T3 project (carrying value of £1.3mn). Royalties from A4 could be worth $8.9mn (£7.7mn) a year to Metal Tiger (at an annual production rate of 3.2mn tonnes and a copper price of $9,000 per tonne – consensus forecasts on Bloomberg for period of production), highlighting the potential for a massive uplift in the value of this investment. Moreover, Metal Tiger has several other potential copper targets owned by Sandfire in Botswana that are subject to uncapped NSRs.
Although Metal Tiger’s share price has rallied 22 per cent since I last highlighted the glaring valuation anomaly (‘Exploiting a valuation disconnect’, 20 June 2022), and is 48 per cent above the entry point in my 2020 Bargain Shares Portfolio, it is still trading around 20 per cent below my spot NAV estimates. That’s a harsh valuation. Buy.
Investors should not be concerned by the first-half pre-tax loss of £9.4mn recorded by Metal Tiger (MTR:18p), an Aim-traded investment company focused on undervalued natural resources opportunities. This reflected mark to market negative movements of £9.6mn on the company’s equity investment portfolio and £0.3mn of losses crystallised on disposals during a volatile period for resource stocks.
However, since the half-year end, the company has recorded sizeable paper gains on its two largest shareholdings: a 1.7 per cent stake in Australian Stock Exchange-listed company Sandfire Resources (ASX:SFR), a mid-tier A$2bn (£1.18bn) market capitulation mining and exploration group that is developing the T3 Copper-Silver and A4 projects located in Botswana’s Kalahari Copper Belt; and a 21 per stake in Australia's Cobre Pty (AU:CBE), another Australian Stock Exchange-listed company that is also developing four projects in the Kalahari Copper Belt close to Sandfire T3 and A4 deposits.
Cobre’s share price has surged 18-fold since early July, so post Metal Tiger’s half-year end, after the company’s drilling campaign revealed several significant copper intersections at its Ngami Copper Project in Botswana. The data strongly suggests that Cobre is sitting on a new copper discovery within the Kalahari Copper Belt, hence the share price reaction. Moreover, Metal Tiger invested A$1.47mn, at 15c a share, in Cobre’s A$7mn summer fundraise to lift its stake to 44.6mn shares. That recent investment has not only more than trebled in value, but Metal Tiger already held 34.8mn shares which have surged from £0.5mn to £9.5mn in value. The enlarged holding in Cobre is now worth £12.2mn (7.2p a share). The stake in Sandfire is currently worth £19.1mn (11.3p a share), well above the £17.9mn valuation at 30 June 2022.
Seems to me that the states are more savvy than us. I have seen the the Nasdaq price spike a few times over the past months only for the LSE not to follow through the next day and then the Nasdaq to fall back again the next day - just like today….
And don’t forget the royalties - likely to exceed $30m annually just for Karuna
And that’s just the first tranche of $25m. With the cash coming in from future share sales the buyback will likely continue indefinitely.
This share really is the bargain of the century
If I was a non-exec I would not agree to payment in shares if a further cash raise was on the cards - I think this is very good news
https://uk.finance.yahoo.com/news/puretech-founded-entity-vedanta-biosciences-113500294.html