Share Name Share Symbol Market Type Share ISIN Share Description
Paternoster Resources LSE:PRS London Ordinary Share GB0001636918 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.16p 0.15p 0.17p 0.16p 0.16p 0.16p 0 07:56:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Goods 0.0 -0.3 -0.0 - 1.63

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19/4/201720:11Paternoster Resources3,669.00
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Paternoster Resources Daily Update: Paternoster Resources is listed in the Personal Goods sector of the London Stock Exchange with ticker PRS. The last closing price for Paternoster Resources was 0.16p.
Paternoster Resources has a 4 week average price of 0.15p and a 12 week average price of 0.15p.
The 1 year high share price is 0.22p while the 1 year low share price is currently 0.13p.
There are currently 1,016,607,956 shares in issue and the average daily traded volume is 1,066,928 shares. The market capitalisation of Paternoster Resources is £1,626,572.73.
higson1: Looking more like a dead dog by the day. Nick Lee and his mates extract the cash as fees and shareholders are left holding worthless paper. Nothing changes despite NL telling us they were addressing the share price v net asset value. Apart from one or two investments this company is a disaster.
sweepie2: Gunsynd invested GBP56,000 in Pires in December 2016. Despite its poor investment track record, we believed that, as an investing company with a good cash balance, it constituted a potentially good opportunity for value creation via a reverse takeover. Unfortunately the board of Pires decided to instead invest in an IPO which significantly diminished their cash balances, and which we believe has had a detrimental impact on the share price. We intend to be an activist shareholder and seek to recover value for our investment.
barnetpeter: More vol today ....soon time for a quarter update. Last one was excellent and most of the big investments held are storming away. Net asset value per share at 30 September 2016 was 2.2 times the period end share price Total cash held was equivalent to 48% of market capitalization at the period end Listed investments and cash represented 184% of market capitalization at the period end
isa2020: Most investment are doing Well, even if the share price quadruples it'll be undervalued. Some investments aren't on the open market (yet!). The value of total current investments (on market price) is over PRS value -
twodegrees: Paternoster is pleased to announce that it has acquired 375,000,000 shares in Polemos at a price of 0.04 pence per share from existing shareholders, for an aggregate consideration of GBP150,000. This represents a shareholding in the company of 24.6%. The consideration of GBP150,000 will be satisfied by the issue of 93,750,000 new ordinary shares in Paternoster (the "Investment Shares"). Based on the balance sheet as at 31 December 2015 and the proceeds from two placings that took place during 2016, Polemos is estimated to have cash or cash equivalents of around GBP400,000. The current market capitalisation of the company is GBP610,000. Polemos is an investment company with an investment strategy which, in particular, includes a focus on the natural resources sector. For the year ended 31 December 2015, the company reported a loss before taxation from continuing operations of GBP149,000. Comment So the share price her is diluted ...issue shares as 0.04p that is some dilution and into the bargain the company they buy a large stake holding in have reported a loss of 149.000 So paternoster just give money away and dilute its own shareholders whilst picking up loss making stakes in other companies....what Idiot thought of this one and should this not have been discussed at an EGM as it is a large stake holding in another could not make this up.. so how far will this now take Paternoster down...????????
paleje: The logic of today's announced deal with Polemos escapes me. £150k worth of new PRS shares to get an interest in one quarter of £400k worth of cash and 'equivalents'. And destroy PRS share price, already seriously uderperforming, in the process. Well done Nick.
sweepie2: MTR a company going places as soon as market wakes up to what they have, wish they were running PRS Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce the key findings of a Strategic and Operational Review (the "Review") undertaken by the Company. The summary findings of this review are presented below: Highlights: Business Divisions - Metal Tiger will now comprise two renamed divisions: Metal Projects and Asset Trading to reflect the activities of the Company. - The Metal Projects division comprises of the Company's direct investments in holding companies for project operations on the ground. These include the Company's interests in Botswana, Spain, Thailand and Tanzania. This division would also house any other direct project investments acquired by Metal Tiger. - The Asset Trading division encompasses the Company's equity, warrant and royalty trading. All activities seek to generate cash inflow, in order to mitigate the need for external dilution through share placings. Business Activities - The Company's objective is to deliver significant returns for investors and the Board believes that the best and most prudent way to achieve is by making strategically diversified investments in natural resource projects at or near the bottom of the cyclical sector downturn. For this reason the Metal Projects division will become the main focus of the Company. This recognises the scale and significance of Metal Tiger's assets in Thailand and Botswana plus the extremely positive exploration progress made in Spain to date. - Asset Trading will continue to remain an active division and current assets include natural resource equities, long-dated warrants and potential royalties. It is the Company's intention to continue trading such investments in order to generate profits for reinvestment in the Metals Projects division. Recognising the Company's focus on Metal Projects, reporting on Asset Trading will now be restricted to the half year and full year results, save where we are required to announce transactions for regulatory reasons. - The pipeline of opportunities under review but not yet acquired by Metal Tiger is extensive and includes traditional mineral opportunities, resource technology and resource related fintech interests. - From time to time additional project interests may be added to the Company's portfolio; though we will remain mindful at all times of any additional working capital requirements such additions may bring. - There may also be occasions when, rather than acquiring projects directly, we will choose to assist vendors to joint venture or dispose of interests directly into other listed vehicles. In such circumstances Metal Tiger may receive fees in the form of cash, shares and/or warrants; thereby helping to build our working capital position whilst ensuring a successful commercial outcome for the work we have done in building an active pipeline. - In all cases the Company will seek to structure investments and other transactions in a tax efficient and pragmatic manner and continues to seek on-going specialist advice in this regard. Key Strategic Objectives It is the Company's belief that, with the bottoming in the mineral resource sector, the time is now right to make new acquisitions and develop new interests. Metal Tiger's first key strategic objective is therefore the acquisition of high potential strategic metals projects whilst applying prudent levels of investment in order to elevate the value of each project as efficiently and effectively as possible. - Recognising the cyclical nature of the natural resource market, Metal Tiger's second key strategic objective is to ensure that a clear exit strategy is in place to reflect the cyclicality. - Therefore, as the sector recovery ensues we will continue to drive the value of our investments in order to increase the value of the Metal Tiger business in line with the recovery. Should the sector begin to show signs of overheating, as is typical in a cyclical market, we intend to distribute all or a portion of any significant crystallised capital gains to shareholders. This may entail the distribution of shares in new entities or cash returned, as far as possible, in a tax efficient manner. Board and Management Structure - Metal Tiger announced a management restructuring on 8th February 2016, and we are pleased to confirm that all role changes have now been implemented smoothly. All Board members retain a commitment to the future success of the Company and will be actively engaged in the decision-making process as we move forward. - The functional business structure of Metal Tiger has been enhanced to reflect the growth of the Company during 2015 and early 2016 and the needs of the business for the foreseeable future. - The Company has now appointed a new Chief Financial Officer, Company Secretary and Office Manager. All new team members have been appointed on a flexible basis, reducing the initial fixed cost to the business whilst allowing for increasing commitment as the business continues to grow. - The Company is currently reviewing a pay and incentivisation structure that will link the overall compensation package of all team members to the share price performance of the Company. Company Advisory Network - The Company has undertaken a review of its advisor network to ensure all providers are suitable to assist the Company as it continues to expand in an efficient and cost-effective manner. This includes all regulatory and non-regulatory providers and specifically including those providing geologist services and mine engineering consultancy. Business Marketing & Communications - Metal Tiger will publish 'Quarterly Activities' reports to summarise key Metal Project developments in the preceding quarter, with the first report to be produced by the end of April 2016 in respect of the quarter ended 31 March 2016. This will align the Company with normal reporting in established resource markets such as the ASX and TSX, demonstrating the international nature of Metal Tiger operations and the Company's willingness to secure interest from an international investor base. - The Company is currently reviewing the work of all media partners and will organise future communications through partners in the most efficient manner possible. - Metal Tiger is keen to leverage its social media presence; which has proven to be an efficient and powerful tool for engaging with investors and disseminating the Company message. - The Company's website is being extensively overhauled to include features such as an opt-in mailing list for people to subscribe to Company updates; a library section where articles relating to the Company's activities will be published; and a gallery section with images being regularly published across key project interests. Finance and Working Capital - Metal Tiger is keen to maintain a healthy working capital position at all times. Crystallisation of trading profits and fundraising through placings undertaken on reasonable terms, attractive to the Company and investors, have enabled Metal Tiger to achieve this objective to date. Since the start of 2015 Metal Tiger has been able to raise over £1.3 million through placings undertaken at or around the mid market price including £240,000 invested personally by the Company's Chairman Terry Grammer. - Proceeds from fundraisings undertaken in 2015 and 2016 have been targeted to the expansion of Company interests and the acquisition of new opportunities during what we believe to be the bottoming phase of the natural resource market. - Metal Tiger remains open at all times to the disposal of assets on highly attractive terms and the Company recognises the importance of incoming capital in order to defray dilution. - Metal Tiger maintains a strong working capital position and a significant level of private investor interest and support which is of critical importance for a company at our stage of development. - It is essential that that we are also on the radar of larger institutions whose engagement will be key to any larger scale future investment. The Company has therefore appointed an experienced Institutional Liaison Manager to complement existing brokerage contacts and to forge introductions to family funds and larger UK and overseas institutions currently active in the natural resource sector. - The Board is of the opinion that institutional funding does not generally engage with micro-cap companies within the resources sector (i.e. Market Capitalisation less than £20million), however we are of the view that in a recovering market, as our business advances, our share price and overall market capitalisation should increase to reflect progress in our business, at which point full-scale institutional funding would become a viable proposition. - Notwithstanding the above, Metal Tiger has recently received expressions of interest in financing Company investments at plc level and project level. Such expressions of interest come from traditional high net worth investor funding sources and from larger non-traditional institutions in the UK, Singapore and elsewhere. - The Company enjoys a strong working capital position, and therefore the Board would not necessarily be inclined to take up such offers of funding. The Board is confident that the Company will be able to access such additional working capital as may be needed in the future to continue to deliver on the Company's key objective. For certain projects, the Board is particularly interested in the possibility of obtaining project level financing, which if successfully obtained would provide the capital necessary to ensure rapid acceleration of such projects without diluting plc equity. Paul Johnson, Chief Executive Officer, commented: "Metal Tiger has grown its business interests rapidly since the Company was created in mid-2014. However, we are aware that market has largely been focused on the equity trading activities undertaken by the Company, whilst perhaps not fully appreciating the rapid growth and forward potential of our highly prospective projects division. The result of this has been that many investors see Metal Tiger as an equity trading and portfolio investment business. As those who follow the Company closely will be aware, internally we have been increasingly focused on the acquisition and development of interests in major projects, most notably to date with our work in Botswana, Spain and Thailand. The purpose of this strategic review is to change the market's perception of our business in this regard and ensure that future investor focus is on our larger projects, from which we see the biggest opportunity for gains to be made, particularly as the mineral sector recovers from its extended declines over recent years. The Metal Tiger board believe that, through our existing interests and new opportunities, we have the potential to build a very large mineral resource business. To achieve this, our business ethos, corporate structure and day-to-day investment operations must be robustly scalable and fit for purpose. We are therefore working hard at a strategic level to drive the Company forward and also on a functional level to ensure the Company has the means to manage the increasing demands that will be placed upon it as we continue on our growth trajectory. Metal Tiger enjoys a significant level of shareholder support, for which we are most grateful and the board of Metal Tiger is particularly excited at the potential value-generative prospects for shareholders in the Company in the short, medium and longer term."
mick113: The key unaudited performance indicators are set out below. COMPANY STATISTICS 31 March 2015 31 December 2014 -------------------------------- -------------- ------------- Net asset value GBP2,698,816 GBP2,758,784 Net asset value per share (fully diluted) 0.38p 0.39p Closing share price 0.195p 0.245p Share price premium/(discount) to net asset value (49%) (37%) Market capitalisation GBP1,312,073 GBP1,648,502 -------------------------------- -------------- ------------- The Company's total net asset value ("NAV") has remained broadly flat over the last quarter, although since 31 March 2015, the NAV has increased significantly due to an increase in the share prices of Metal Tiger (AIM:MTR), MX Oil (AIM:MXO), Northcote Energy (AIM:NCT), and Plutus Powergen (AIM:PPG). The Company's principal investments are as follows: Investment Ticker Shares held ------------------------------- ----------- ------------ Listed ------------------------------- ----------- ------------ Metal Tiger plc AIM:MTR 27,000,000 ------------------------------- ----------- ------------ MX Oil plc AIM:MXO 8,600,000 ------------------------------- ----------- ------------ Plutus PowerGen plc AIM:PPG 94,300,000 ------------------------------- ----------- ------------ BOT:SHU Shumba Coal Limited SEM:SHCL 2,500,000 ------------------------------- ----------- ------------ Northcote Energy plc AIM:NCT 62,037,626* ------------------------------- ----------- ------------ Unlisted/pre IPO ------------------------------- ----------- ------------ Elephant Oil Limited - 1,185,770 ------------------------------- ----------- ------------ Andiamo Exploration Limited - 640,000 ------------------------------- ----------- ------------ Bison Energy Services Limited - Loan notes ------------------------------- ----------- ------------ *This is the estimated number of shares that the Company will ultimately hold in Northcote Energy once North American Petroleum plc has completed the distribution of Northcote Energy shares it received as consideration for the sale of its oil and gas assets. This is expected to take place in the next few months. The balance of the portfolio principally comprises cash and investments in highly liquid companies including Rio Tinto plc, Cairn Energy plc and Ophir Energy plc. As at 31 March 2015, the value of cash and these investments amounted to GBP477,832. During the quarter there has been good progress with a number of the Company's investments: Metal Tiger plc The company has revised its strategy and established two distinct investment divisions: the Direct Equities Investment division; and the Direct Projects Investment division. The Direct Equities Investment division is focused on taking advantage of the low valuations of many listed junior resource companies. This division has made investments in companies such as Kibo, Eurasia and Ariana and has already realised some significant profits. The Direct Projects Investment division will continue to invest directly in projects in the natural resources sector. This division has been progressing a number of its projects - drilling has commenced at its Lagrosan gold and tungsten project in Spain and operations have also started at its gold project at Chanthaburi in Thailand. The company has also raised additional funding at the prevailing market price underpinning the company's current valuation. MX Oil plc MX Oil is continuing to work towards securing onshore conventional acreage in Mexico. The tender, known as Bid Round 1, for mature onshore conventional fields in the states of Tabasco, Veracruz and Tamaulipas will open shortly. Furthermore, a recent announcement by the President of the National Hydrocarbons Commission has said that for the third phase of Bid Round 1, those companies that can demonstrate extensive experience in either working with Pemex, the state owned oil company, or a proven track record of developing onshore fields will be prioritised. Given the track record of the company's partner, Geo Estratos, in working with Pemex, this clearly enhances the likelihood of MX Oil being able to secure a licence. As well as participating in Bid Round 1, the company is also working alongside its partner, Geo Estratos, to secure existing fields operated by Pemex, via farm out agreements. Plutus PowerGen plc Plutus PowerGen, a company focused on the development, construction and operation of flexible stand-by electricity generation in the UK, is continuing to make good progress in developing 200MW of flexible energy generation in the UK. The company now has connection offers for 180MW of capacity on five sites. It is also in the process of securing two management contracts which will generate some immediate income and it has also received two offers of asset finance for GBP2.5 million to complement equity funding from Rockpool. Northcote Energy plc Northcote Energy completed the acquisition of North American Petroleum's oil assets and raised over GBP4 million in new funds. Paternoster will be receiving shares in Northcote Energy in exchange for the shares it holds in North American Petroleum. Last month, the company contracted a drilling rig for a new well on its Shoats Creek prospect where it plans to drill shortly. In addition to its exploration and production operations in the USA, Northcote has also been increasing its exposure to the oil and gas sector in Mexico. The company has appointed a new Executive Vice President for Mexico and has also announced a partnership with Gaia Ecologica S.A. DE C.V, a Mexican environmental service company in order to look at new business opportunities together. The Northcote Energy share price has increased very significantly in recent weeks. Shumba Coal Limited The company has recently reached an agreement for the acquisition of the Mabesekwa Prospecting Licence in Botswana. The estimated JORC in-situ coal resource is over 800 million tonnes, predominately contained in one coal seam, with an average seam thicknesses of greater than 18 metres with a flat and consistent profile with the coal found at average depths of 50-60 metres, to be accessed by open strip mining. Shumba has also executed an agreement with Mulilo Renewable Project Developments for the joint development of the Mabesekwa Export Independent Power Plant at the Mabesekwa Coal Project. The company has also just raised US$2.75 million to finance this expansion at a 27% premium to the prevailing share price, demonstrating a good level of support from investors. Bison Energy Services Limited This company is currently in the process of being reorganised in order to be better positioned to explore the various options available to it in order to capitalise on its deposit of frac sand and associated permits in the US. Elephant Oil Limited Elephant Oil continues to progress its work programme on Block B in Bénin. The company has recently begun the Environmental Impact Assessment ("EIA") covering the area of interest where future surveys and drilling are to be targeted. The EIA is a prerequisite to the new seismic acquisition programme planned in 2016. The company has also identified further potential acquisitions in West Africa and due diligence is being carried out on selected assets. Nicholas Lee, Chairman of Paternoster, commented: "A number of the company's investments continue to make good progress and, in recent weeks, for those that are listed, this has been reflected in good share price performances. At the same time, there has been a clear increase in the liquidity within the portfolio. The Company also continues to observe and review some very interesting opportunities and expects to add further to its portfolio in the near future."
fenseal3: Great news today at PPG, last statement in Semptember for PRS below, since then their investments have grown...PRS share price 0.22p Chairman's review Paternoster has had an active first six months of the year making significant progress with a number of its investments. Net assets as at 30 June 2014 were GBP2,470,132 or 0.40p per share, slightly down compared to the year end (31 December 2013: GBP2,644,268 or 0.43p per share). However, this figure does not include the impact of recent developments at MX Oil plc and Plutus Powergen plc such that if these investments were included at current valuation, the Company's net asset value would higher at GBP2.8 million or 0.48p per share compared to the current share price of 0.28p. Why is this share not trading higher, both PPG and MTR doing well for PRS
tez123: Post Rec. Schoolboys summary. Post Rec. Introduction Paternoster Resources (PRS or 'the Company') is an Investing Company listed on the Alternative Investment Market ('AIM'). Its investing policy revolves around the natural resources sector, and permits a wide range of investment methods in numerous geographical regions. Nicholas Lee, a veteran corporate financier with experience across a range of sectors, is chairman of PRS and de facto chief investment officer. Since my last research note published 6 months ago, the Company's share price has fluctuated substantially. On Sunday 12 August (the date of publication) the share price was 0.235p. By the close of trading on the Friday, it had leapt to 0.38p. On the following Monday morning, 20 August, Lee released the interim results, and the share price peaked to 0.49p, equating to an increase of 108.5% in under six trading days. Yet despite the interims clearly stating a fully diluted net asset value ('NAV') per share of 0.499p as at 30 June 2012 (0.535p basic), 1 the price receded considerably in the days after. It eventually hit a low of 0.23p on 11 December, a drop of 53.1%. But by 17 January – when one of the Company's more recent listed investments, Ipso Ventures, was peaking at a price of 1.85p, over 200% up on the day and valuing PRS' £200,000 investment at £1.48m – then at last PRS' share price rose dramatically again. It hit a high of 0.47p, another rise of over 100% in under 5 weeks. As at close of trading on Friday 8 February, the share price was 0.37p. The purpose of this paper is to reassert the current significant undervaluation of the Company's share price, and the fantastic discount available to investors. Furthermore, it will stress the potential of the investments that Lee has made to date for sizeable capital gains. It is important to note that, whilst cash shells designed for reverse takeovers ('RTOs') tend to trade at premiums to NAV, shells intended to remain as investing companies have a habit of trading at discounts to NAV. Although this does appear like one of the market's many irrationalities, the peculiarity can be explained in at least limited terms. Investors in a cash shell waiting solely to receive an incoming party do not expect any value enhancing events other than the single prospect of the completion of the reversal, and the consequent immediate spike. As such, that eventual leap in the share price is already to an extent factored in before suspension of trading. In the case of the investing company, shareholders do expect to see value enhancing activities on a continual (even if only gradual) basis – through successful investments, resulting in a reflective (capital) gain in the investing company's share price, and/or by means of distribution of profits via dividends or tender offers. If the continuity is broken even for a short time, then many investors appear to struggle to see past this period of inactivity, and negate the possibility of future earnings. 1 Resources plc Research Note – 10.02.2013 2 Added to this is of course the nature of liquidating highly illiquid investments. Being locked into an asset is, in the majority of investors' eyes a negative, and therefore a further discount must be attributed to PRS' circumstances. Finally, the 'AIM slump' dynamic must also be considered. In recent months the FTSE 100 index has rallied impressively as investor appetite to the high risk asset class has returned, in the wake of generally improving global economic data and the postponement of the US debt ceiling crisis. The index pushed through 6,350 on 1 February, a mere 6% or so below its 2007 pre financial crisis highs. The movement of the FTSE AIM All Share, in contrast, highlights the continued aversion investors feel toward the riskier end of the equity class. Despite having rallied strongly over the past two months, the index still languishes c40% below its highest point in 2007. When evaluating individual London listed microcaps, it is clear that a universal discount should therefore likewise be applied. Nevertheless, factoring the above points into calculations, before year end and as realisation of value of the Company's assets accumulates, this paper proposes A conservative target share price of 0.70p Assuming a year end NAV per share of 0.80 – 1.10pPaternoster Resources plc R
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