Melissa on board will ruffle Lee. It looks as if she is well respected in the mining sector and I am afraid Lee has done nothing for PRS apart from take his dinner money. Could see some action over the coming weeks
SP keeps dropping because personal investors have not been kept up to date with whats going on in the company.
How many shares in i3E, how many shares in Cora?
What about the share buy back to increase shareholder value?.
Crazy share price @ this time. Buy one get one free!!!!!!!
Positive news needed here or some positive broker pushing it back into the lime light?
Their not charismatic enough............... Guys you need a couple of interviews and a way forward with some embellishment.
EITHER THAT OR WIND HER UP AND GIVE US 3.25P A SHARE..............
ITS BEEN A LONG TIME WAITING HERE FOR ME...................
Always ticking along on something, but as usual we are the last to know............ Could see a re rating soon on further news, less than cost price at the Mo................
Almost break even here just 7.7% to go, GL
These well exceed the sp but how realisable are the assets at their Balance Sheet values?
If fair value then why not sell and start again? My holding is small but may add if convinced stated values could be realised.
Got to be worth a top up if we start a steady climb.
Good entry point for new investors at 50% discount.
The need to up their game with News and Plans.
Half a dozen posts since mine i May? Not on the radar is it?
I agree. And PLMO of which PRS holds a big number, is shooting up. As per the last accounts PRS asset value was £3m, but the market cap today is £1.4m.... looks good. Overlooked I think. Good to get in early.
Its about time this share moved back up, as it has a NAV of 44p, and could be a lot more should the likes of Metal Tiger, MXO and Chumba Coal make further progress, has to be a bargain when you can buy a share worth 44p for around 20p,
I wouldn't imagine a fool and his money, both Metal Tiger and MX Oil in which PRS has a investment has risen over the past few weeks, with some interesting news from Metal Tiger today, and some positive news from MX Oil due within the next few weeks , some shrewd investors are getting on board at a bargain price,
Has to be a good Buy and hold for the future, as the NAV must be over double todays price,
Izzy I should have mentioned the £17,000 from metal tiger for the sake of completeness but that would be included in the cash total rather than holdings. The problem with the cash total, is we have no clue what it is. We know at the end of 2013 it was £411,739, overheads seem to be about £260,000 per year so we could take away £130,000 for 6 months costs add on the £17,315 from MTR. Trouble is we dont know what investments have been bought and sold this year. It does appear that the PRS website home page carries a fairly recent update of which stocks (but not the quantity or value) PRS own and it seems last updated on 10 July, so perhaps we might get a very rough idea of what is being bought and sold from there. NL promised a more detailed update soon so perhaps that might help a bit. http://www.paternosterresources.com/
Put to him the objection by many re his salary and asked for evidence his value. Replied he's spent the last 6 months dealing with BRDY, PLR and ASTA. Agreed each were very disappointing but are all now at last moving in the right direction. Also states PRS don't outsource their management etc but that's being looked at. Last year has been a recovery and new investment phase.
Hasn't bought/exercised shares because he's extremely cautious about insider trading and I think he initially suspected I was trying to entrap him. But I asked how other chairmen were able to buy shares in their own companies. Replied that he is waiting for an opportunity to buy as he knew the above investments were difficult for PRS, but we will be informed when that happens.
PLR RTO still in progress, but likely this will be extended on 31st July. He acknowledged previous RTO fails but is optimistic about PLR.
MTR's CEO is very well connected and expects us to be in profit here <12m
NAP's news speaks for itself and expects this to do well.
Bison still own the sands and have $10M already invested in them in total. If processing does begin it'll rapidly be self financing as low cost.
Andiamo long term for profit ~12m is looking likely to be an RTO with Ortac.
Shumba >12m will be listing in Mauritius as well as Botswana, latter is doing well.
He accepted communication has been poor and is looking into how that can be improved and agreed that was a weakness of his. However as he isn't on the board for most of our investments he's only access to the same info we do. Asked for another RNS detailing our NAV and cash, he states next report will be broken down better and although wouldn't disclose cash stated we were very comfortable.
All in all struck me as a very polite and humble man who did appear to be doing what he could. I think the prospect of a motion to remove him was a very effective shot across his bows though. Finished by stating PRS is run very conservatively for a resource company investor but there is absolutely no chance of us going under.
He also stated that he would be very happy for anyone to give him a ring at PRS or on his personal number which I'll email to you if you wish.
Pernickety on LSE has made a good try at working out what PRS has in terms of investments. It would be interesting to here from anyone who may be able to add to the list. This is his post.
After the recent placing of 66,666,666,shares MX Oil now has 201,332,190 shares in issue of which PRS own 8.6 million equating to 4.2715%.
Prior to the placing 85.63% were privately owned so not much for PI's to get and the percentage will be higher now.
After putting £300,000 into Pan Pacific Aggregates and £111,000 into ASTA the MX shareprice needs to go to 4.78p for PRS to break even which in time is quite possible.
PRS has 577,857,956 shares in issue and @ .28p its market cap.is £1.618 million.
Also see Nick Lee's response as per davejm post of Tues 29/07 20.12.
MX Oil (formerly PPA and ASTA). PRS own 8.6 million shares @ 3.38p worth £290,680.
Metal Tiger (formerly Brady) 27 million shares @ .70p worth £189,000
Plutus (PLR) (formerly IPSO Ventures) suspended since 31/01/2014 and now pending the PLR acquisition of the remaining 75% interest in the share capital of Attune Energy Ltd. which would constitute a reverse takeover under AIM rules. This reverse takeover period has recently been extended but there is no certainty it will conclude.
Paternoster (PRS) hold 40million shares in Plutus Resources currently @ .80p worth £320,000 and are interested in £100,000 of convertible loan notes which can be worth another 40 million shares set @ .25p per ordinary share.
Bison Energy Services Ltd. PRS put in US$ 280,000 which intends to focus on the rapidly growing US fracking sands industry. Nothing much happened recently but still own the sands and overall US$ 10 million invested so far.
North American Petroleum (NAPP:ISDX market)
PRS invested £126,000 in March 13 in placing @ .665p and now .78p ( Nick expects it to do well )
PRS invested US$ 250,000 with the thermal coal explorer in Botswana and listed on their exchange currently @ 1.06 pula per share. Also intends listing in Mauritius. (not known number of shares purchased)
Andiamo Exploration Ltd
PRS invested US$320 for 640,000 shares @ US$0.50c. (Jan13) in the precious and base metal explorer in Eritrea.
From Jan 14 to provide on going exploration funds Ortac (OTC) is now providing US$ 1.5 million in three tranches @ US$0.15c for an initial 10 million shares and 26.7% of the company, plus a further conditional US$ 2.00 million @ US$0.20c per share for more. Looks like Ortac may eventually take over Andiamo.
At year end 31/12/13 PRS had other listed opportunities in Glencore Xtrata, Quadrise Fuels, Cairn Energy, Ophir Energy, BG Group, Red Rock resources and Jubilee Platinum.
Not much has happened with these except for Quadrise Fuels (QFI) in which PRS put in £85,000 @ around 7p per share for it to rise to around 48p per share in December 13.
In the financial statements to 31/12/15 dated 5th June 14 it stated that PRS had now
sold its entire holding of QFI but must have made a tidy profit along the way.
Cash in Hand, we do not know what is held at this time, but overall there is quite a lot of bits and pieces within PRS ready to grow when these markets recover.
Izzy no placings over the last few years so definitely buying on the market. He seems to buy on any reasonable size dips like the one last week, about 6 7m at a time. He actually seems to have been supporting the SP for the last few months which is obviously a good thing. Lets hope he knows what he is doing ;-)
I have spent most of today going through PRSs holdings and the one thing that is clear is that we need a more detailed breakdown on what PRS actually holds in each stock. It does look like the NAV is higher than the SP but how much is just guess work.
Sadly I cant see PRS and MXO joining forces in the future but at least PRS has a reasonable spread of investments some of which might do well over the next few months.
Looking back Marab, i see Mr Prenticed purchased 30.8 million shares last year, and another 24 million so far this year, the question is, is he buying on the open market, or through placings, the reason being, if purchased on the open market, surely it would increase the share price, if it was a placing the amount of shares in issue would have been increased, which is not the case, so it has to be the former.
What ever his reasons he is in a win, win situation, as the company has to be worth a lot more than the current share price, and could be worth even more if MX oil gets a few consessions in Mexcio.
We could even see a merger with MX Oil and PRS, but i think thats just a silly thought.
Izzy I am sure many are wondering who and what Mike Prentice is. At a rough guess he has paid around £175,000 for his shares at an average of around 0.32p each. At 5% he would have had enough to call for a GM if he wanted to. The fact that he is now around 10% indicates a great belief in PRS and its current management or a desire to change the status quo.
With Rowan and Zoltav holding about 23%, Prentices stake of 9.5% wouldnt get him to far although he could be a focus point for unhappy shareholders and potentially be able to get changes pushed through. An interesting situation and I have noticed that he is very prompt at letting PRS know when he has upped his stake.
Just wondering who Mike Prentice is,or what he is up to, from what i can make out he is a Canadian business man, who now owns 55 million PRS shares, which equates to 9.5% of the company, could there be a takeover,
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