|Pan Pacific Aggregates
||EPS - Basic
||Market Cap (m)
Real-Time news about Pan Pacific (London Stock Exchange): 0 recent articles
|mg78: BAM BAM Rubble 17 Apr'12 - 13:15 - 7923 of 8062
Yorkville haven't loaned anything, they've agreed to forward sell or 'churn' shares into the market provided there is sufficient liquidity to do so, after which they'll be given an equivalent amount of shares to cover the gap at a 5% discount. The service hasn't been used yet, most likely due to the lack of liquidity and the recent placing at 50% discount to the consolidation price was done instead, however with a large mortgage liability due to be paid or refinanced in 9/10 weeks, it may have to be used soon, at which point we could see a rapid decline in the share price to the 1p level.
Happy Bear 17 Apr'12 - 13:16 - 7924 of 8062
What a load of nonsense.|
|bill182: I have now spoken to Wallbrook who have confirmed that the results we be announced before the end of the month. Hopefully we will hear some soothing words and a positive forward looking statement.
At the current share price, I see this as a speculative buy, and added further at 1.87p yesterday.|
|happy bear: Even by PPA's standards it's time for that work permit on Sechelt, profitability at Quadling and the corresponding rise in the sp! Clearly Viridas think it's going to happen soon, so let's have it Euan! Trading statement would be nice.....
11 August 2011
PAN PACIFIC AGGREGATES PLC
RESULT OF AGM AND AGM STATEMENT
The Board of Pan Pacific Aggregates plc (the "Company"), the British Columbia based aggregates company, held its annual general meeting today and all resolutions were duly passed.
At today's annual general meeting, the Executive Chairman, Euan McAlpine made the following comments:
"The progress that we have made on the ground in the last seven months has helped to refocus the group following the frustration and inability to complete a reverse takeover earlier in the year. In addition, the financial position of the Company has been clarified to enable us to move forward on a firmer footing.
Last year we brought Quadling Quarry into production and we have since seen a relatively large increase in revenues, albeit from a low base. We have continued to improve both the product mix and the client base and in the first half of the current financial year have seen revenues rise 209 per cent. compared with the first half of 2010 and expect the quarry to be operating profitably by the year end. We are also looking to extend the reserves.
In addition, we expect to obtain a working permit for the Sechelt quarry towards the end of 2011.
In the past year we have addressed many issues and have recently refinanced the Company and restructured the Board and are looking to further strengthen it by the appointment of additional non-executive directors.
We now have a business that is refinanced, increasing revenues and actively winning new business. British Columbia has a strong economy and Canada has been less affected by world events than most countries. It is currently growing at over 2.7 per cent. per annum.
We are now in a position to grow the business and hopefully the share price will in due course reflect the asset value and the potential of the Company."
|share_shark: So knowing Nick Lee's modus operandi, like LDP, where he must have taken he shareholder whom the brought the shares from, to the cleaners,I am hoping for news to appear regarding further aquisitions or even something more spectactular. Both Lynda and Nick appear to be real Tigers on their own. Together I think they may well be more like lions !. Even more welcome is the appearance of Bruce Rowan and his Tiger resources. All cats together ?.
I am far away from my own home PC but I posted this elsewhere on the 11th.Dec.2011 and so again courtesy of Happy Bear, someones else's opinion.
THIS is what I posted doorway !. .
share_shark - 11 Dec'11 - 23:04 - 1166 of 1999 edit
PPA. Pan Pacific. Keep eye here.Looks ready to move INMHO.
Could be why Mr/Johnson bought ?.
PPA won major contract in September. Vancouver starting to boom again.
Also "expects to complete an acquisition within a month," extract from below.................read on .
Happy Bear - 8 Dec'11 - 11:18 - 7623 of 7625
Re- the above. Sounds positive. Should lead to a nice spike within a month, especially from this price, imho.
LONDON (Dow Jones)--British Columbia, Canada-focused building materials miner Pan Pacific Aggregates PLC (PPA.LN) expects to complete an acquisition within a month, to help boost its asset base to the point where the group can be sold off to a major aggregates business within three years, Chairman Euan McAlpine told Dow Jones Newswires on Thursday.
The firm currently supplies aggregates from one quarry, Quadling Quarry, in Vancouver but expects another, Sechelt, also in Vancouver, to start production in the second quarter of 2012.
McAlpine, the former managing director of U.K. aggregates business Alfred McAlpine Minerals Ltd., and Managing Director William Voaden declined to provide any details about the upcoming acquisition apart from saying they are confident an announcement will be made within a month.
They said Pan Pacific plans to buy quarries and improve their efficiency, which they believe is a fairly straightforward goal, given the relatively advanced nature of European quarries compared with their Canadian counterparts. This would involve things like improving the turnaround speed of loading trucks and efficiently managing stockpiles to meet demand, they said.
The directors believe that Pan Pacific is back on track for growth, following a failed reverse takeover earlier in the year, financing woes in which the firm had to undertake a company voluntary arrangement and the resultant 85% decline in its share price.
The directors said they don't expect the firm to go back to the market for working capital and expect to be cash neutral over the next 12 months, after taking into account the upcoming acquisition.
In September, the firm signed its largest contract to date, to supply 100,000 metric tons of aggregate for a major construction project in Vancouver.
If the firm successfully delivers this major contract, the directors expect it to lead to more contracts. The contract, which is expected to last for six months, currently accounts for around half of the group's production capacity, they said. There is also the possibility the contract could be extended by up to three years.
The directors also noted that because of major infrastructure development projects in Vancouver, one of its major competitors is running at full capacity, opening up the market for Pan Pacific and lifting prices, thus boosting margins.
Shares at 1525 GMT were flat at 0.06 pence in a slightly higher Alternative Investment Market--up 0.3%
-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; firstname.lastname@example.org
(END) Dow Jones Newswires
December 02, 2011 00:30 ET (05:30 GMT)|
|bill182: Here's another thoery for you. The terms of the standby with YA Global Masters is as follows:
Ordinary Shares issued under the SEDA will be priced at 95 per cent. of the lowest of the daily volume weighted average prices ("VWAP") during the ten day pricing period following a draw down request. The draw down is subject to certain restrictions, including marketability, which may limit the total amount available under the SEDA.
Could it be that the share price is being manipulated down in order for Yorkville to gain shares at a lesser price. We will find out soon enough if the company does indeed announce a drawdown in the next 10 days.
share-shark - any idea when the news bulletin is being released?|
|share_shark: From Procative investor.
Is it correct that finCap , PPA has given a share price target of 24.6p (according to a poster on LSE)Courtesy of Chalky on LSE.
House broker finnCap banged the drum for its client, saying: "The company now has a robust and diverse portfolio of assets and a high quality management team that is well equipped to make further acquisitions and grow the business. We see this as being an important attribute, and one that distinguishes it from many others within its peer group."
The broker has a target price of 24.6p for the stock.|
|monkey puzzle: A share consolidation is usually the signal that MMs take to start a whole new period of further declines in a company's share price...seen it dozens of times elsewhere, add to that the proposed SEDA (nearly always another negative for any share price) and I don't see anything good about the likely share price here post consolidation...all imo fwiw|
|jervaulx: mg78 - I must sincerely apologize to you for my previous comments and take them all back - I had a v bad day and the PPA share price did not help. I agree with your summary of the current situation and can only hope that the current sentiment held by many shareholders is the main reason for the current selling and that the Board finally get their act together and create value for those shareholders who are brave enough to hold. Even though the fundamentals are probably close to what you say I am personally relying on Euan to turn this comapny around and believe that he can do this in time as he does have the ability and unlike others he is an honorable man.|
|thechartistformallyknownasaol: Today's buyers are already paying a premium in my view. The £4 million re-list value is vastly overvalued considering the poor track record and significant dilution to come.
A couple of valuations to keep in the back of the mind;
In 2008 pre-credit crunch the company's market cap was as low as £1.4m
The first placing after the quarry acquisition (1p) valued PPA at £2.9m
Those buyers believed the quarry had potential and could be viable. Now we know this is not the case and yet its now valued higher? Revenue is dire, the sales margin so low its barely visible, they are effectively selling aggregates at cost, add on whacking admin costs and they are paying people to take it off them. It's just come out of a CVA where it narrowly avoided going under due to the poor financial state of the company and the management's lack of cost control. They do not have enough funds to get through the year without raising a confetti load more shares (via promissory notes and a draw down facility) diluting shareholders further. A proposed share consolidation will add more price weakness (they always do) and the failed RTO meant the Board have already showed their hand, they realise a new asset is needed as the quarry is a flop and that can only mean more paper to be issued. Not a good thing when this management's ability to select viable assets or pay an appropriate price has proved highly questionable.
All this and yet some on here are saying its cheap at around £4 million, more than its pre-credit crunch valuation when the possibility existed it was a viable business? No, this is considerably overvalued. It may look cheap because of the bombed out price but its an anomaly and once shares are consolidated (60>1 to increase the share price to 5p for example) the value should correct to something more realistic.
In my view PPA should currently be valued at no more than £1.5m taking into account all the above. This allows £0.5m for retained cash after CVA costs and £1m for the quarry equipment that can be resold at discount, which may be generous. After including the mortgage payment due in less than a year the actual day to day business of the quarry is a liability although in my valuation I've given the business a value equal to the mortgage liability, for equivalent nil value.
A fair value share price would be 0.04p, however a suitable discount would be required for a Buy as there is little point buying a company at fair value. A 0.025p entry would allow 60% upside which is probably high enough to balance out the risk of trusting your money to this woeful management team.|
|thechartistformallyknownasaol: These sorry excuses for directors should be thoroughly ashamed of themselves. They should wear balaclavas and swag bags rather than suits and ties, at least investors would then get a better appreciation of what they're all about.
At the start of 2008 there were only 64m shares in issue. A few months later after issuing shares to buy Quadling quarry they were up to 190m odd. Then they starting diluting shareholders into oblivion but not before setting up the nice deal that "VSA Capital (MD, William Voaden) get 5% of the placing amount in cash plus 5% in warrants". In other words the more dilution the more goodies for Voaden. Shareholders rung dry then the pièce de résistance, VSA was sold for a quid... Roll out the barrel!
H2 2008...102,000,000 issued at 1.0p (abandon hope all ye who enter here...)
H2 2009...552,000,000 issued at 0.5p
H2 2010...750,000,000 issued at 0.2p
H2 2011 1,530,000,000 issued at 0.1p
And you ain't seen nothing yet. A potential promissory note in the offing of up to £1.25m, which if issued would convert to 1,240,000,000 shares. On top of the proposed SEDA draw down facility which would really send the share price into a death spiral. 4 rounds of £750,000 at a 6% discount to the share price would be another 800,000,000 shares each time, or 3,200,000,000 in all. That's if the share price stays at this level. If it gradually drops you can potentially double that number.
Then after the share consolidation they can start the whole process over -
"The Board recognises the Company has a significant number of shares in issue and over the medium term will consider means of addressing the large number of shares in issue"
[which may decrease the shares on paper but only as a precursor to issuing more paper]
"The Directors believe it may be necessary to raise more equity finance in the medium term to further strengthen the financial position of the Company"
[and further weaken the financial position of shareholders]|
PAN Pacific share price data is direct from the London Stock Exchange