Member Info for Waterloo04

Hopefully, there will be some positives coming out of the AGM next Thursday. PAF often finds a way to add something negative to the positives! But maybe the negative here (administrative c**k-up) has already been mentioned in the RNS dated 28/10.

Welcome back. Better in than out at the moment ...!

Patryk - I got back in last week. Not sitting tight cost me a bit, but I shouldn't have been spooked by the last RNS! Anyway, glad to be back - live and learn!

Hi Bustard. It's the RNS dated 28/10 entitled "Notice of Annual General Meeting". You have to read through it to the end. Hope this helps.

Thanks, Mike. I am watching carefully! Perhaps the move from AIM to the main market has meant that some of these admin matters are looked at in a more critical light.

Excellent. Look forward to your report in due course.

Hmm ... I'm not sure it is "fickle" to be concerned about serious admin errors relating to the last dividend and the share buy-back programme. I had wondered why the share buy-backs had suddenly stopped. It makes me wonder what else may have gone wrong? Hopefully, the answer to that question is "nothing". On paper, the fundamentals remain very good. I am waiting to see what emerges from the AGM.

Bustard - ah, yes. I had mistakenly thought that the share premium account was an asset, whereas it is a component of shareholders' equity. My apologies.

This has spooked me, I'm afraid, so got out this morning. Got in originally at 28p and PAF has been my most successful recent investment, after Rolls-Royce. Very happy with my profits and hope to be back in due course. I agree with a recent comment here by Mike that this board is a model of civility (compared with many other boards) and there are some very knowledgeable and informative people here.

As I read it, what we have here is the proposed extinguishment of an asset - the share premium account, which must adversely affect the share price. Looks like I was wrong when I said there was probably nothing sinister when Cobus sold 200,000 shares recently.

sounds like an administrative "****-up". not the sort of news we wanted to hear.

Good luck, Mike, and all who are still holding. As we move to the main market, I would like to think that there is a queue of new institutional investors (who were previously barred from investing in AIM companies) just waiting to buy into PAF!!! I suppose we will soon find out!

I am hoping that the move to the main market may generate some positive press comment at the weekend ...

Following the last disposal, Cobus has an indirect beneficial interest in 4.9m shares via LTS Ventures, plus a direct beneficial interest in 1.1m shares. My theory is that he is possibly a lover of fine art, and (perhaps!) he has just seen a painting that he felt he just had to have!!! It's only a week or so ago that the Chief Finance Officer was buying shares.

But Cobus holds 6 million shares. 200,000 shares in percentage terms is nothing. People sell shares for lots of reasons (new house, new car, daughter getting married, etc., etc.) If Cobus had sold 5 million shares, I would be worried. And if Cobus was worried, he would have been selling a lot more than a relatively piddly 200,00 shares.

Best wishes for future trades, Patryk - hope you find a suitable opportunity to return. I'm taking a long-term view, so I am not too bothered by these pullbacks. I suppose that if the gold price dropped back to $3,750 and the sp dropped below 75p, I would think again. But I am prepared to hold tight right now.

But I don't think it is significantly different from other miners (e.g. HOC) is it?

Regarding IHT, AIM shares are ineligible for the IHT exemption if they also have a secondary listing on a recognised stock exchange elsewhere (in this case, Johannesburg).

Thanks for the word of caution, Mike. One bit of slightly negative news can result in a share price correction - saw that recently with HOC (which has since recovered well). No reason whatsoever to suspect that here, but one never knows ... Anyway, I am hoping for 100p+ today!

Not sure they are out - they have dropped below the 0.5% reporting limit. Arrowstreet is showing their short position on Wednesday, 15/10 as 0.48%. Not that this has much bearing on the share price, in my view.