Pantheon Resources Share Discussion Threads

[chris0805] 17/11/2021 08:32

? Should read *a third*

[chris0805] 17/11/2021 08:31

Easily could have been more... placing applications were scaled back by about ? from memory?

[sirmark] 17/11/2021 08:30

Only 187 shares left and were taking out the next 100k at 92

[dan de lion] 17/11/2021 08:25

they know that Funds can be raised within 24hrs as proven last year, they raised $41 million and could have had more.

[holism] 17/11/2021 08:25

It all points to a sound strategy. Time is always the enemy. No point signing away valuable assets on the back foot. If the farm in terms are not acceptable to both parties a fund raise is available, it wont take long to do that but obviously there will be a pricing issue.

[sirmark] 17/11/2021 08:24

That's one gone :)

[wee jimmy] 17/11/2021 08:24

An individual lending $1.5m to the company would be fully appraised of progress with farm-in negotiations (and obviously inside); most unlikely to be lending unless very confident of a positive outcome...and an early conclusion. (RNS: "The company is confident of completing its financing objectives this quarter...")

[winner66] 17/11/2021 08:23

And then it upticks by 2 percent. So there’s my reason . A buy order worked through during that time .

[sirmark] 17/11/2021 08:23

3 x 100k+ sells on the book at 91.5/92/92.5 so a tiny bit of resistance but then on to the 95p close

[probabilityofsuccess] 17/11/2021 08:22

Croxie - this rns provides, in my view, more certainty on funding than we had yesterday, all things considered.

[winner66] 17/11/2021 08:21

The buying size available has dropped considerably , I have been trying to for the last 5 minutes but declined the amount. Somewhat strange .

[johnswan193] 17/11/2021 08:06

As expected, initial market reaction was always going to be negative, though it honestly wouldn’t surprise me the way things have gone recently if we finish the day flat or even blue.

[sirmark] 17/11/2021 08:05

Great buying opportunity the mm's dropping it on good news ... not often happens but feel this will be blue by lunch and 95p+ close

[chris0805] 17/11/2021 07:57

Interesting move from the BoD & I concur with the general positive take on this by the BB this morning. Will be interesting to see how the market reacts... another volatile day to entertain the day traders amongst the register ? ( but very tough to call best trading times I would guess), or some stability for a while? We shall soon see.... GLA...

[winner66] 17/11/2021 07:55

Michael spot on , agreed 100 percent. I’m sure they are talking to potential partners in the plural too. Not forgetting the BOD may also require a large upfront payment reference the amount of money that has been spent by GB in the past . Very interesting and uplifting times

[johnswan193] 17/11/2021 07:54

Waterpolo, does not necessarily mean they have no cash at all in bank, just that they are up to $1.5m short of what’s required in the short term.

[kaos3] 17/11/2021 07:46

in my simple mind - from the spring on they did not get equity funding in more than 6 months ..... few minutes before the drilling starts still not funded (not to speak about late August drill from the high way getting away this year - NPV impact ...).

my reasoning is - they let it happen coming this far - because they are convinced someone will give them funds - a FO partner imho

I hope they hedged their negotiations if the potential FO partner uses the pressing time situation to get better terms and/or he walks. plan B

I am sure it is not gambling this drilling season away - too important

[michaelsadvfn] 17/11/2021 07:42

19th November last year placing announced.

Given it’s 17th November and they have announced a short term loan facility this suggests, to me at least, that a farm out will be announced in the coming weeks.

[waterpolo] 17/11/2021 07:40

So no cash at all in bankI note either or by the BoD with respect to capital I expect equity now which will be good...keep the whole thingWhich shareholder gave the loan? Ngms?

[scot126] 17/11/2021 07:36

bad gateway - no way the NOMAD allows an RNS like that to be published if farm out negotiations aren't genuinely ongoing. If the BoD had assessed the potential partner(s) hadn't yet accepted the data as being sound, they would have executed an equity raise weeks ago. Nope, I'm comfy taking the RNS at face value.

[winner66] 17/11/2021 07:32

Sirmark If my maths is correct we only need another 7 percent

[nigoil] 17/11/2021 07:31

Excellent news, a good move from the BOD to keep things moving!.....;-) GLA

[johnswan193] 17/11/2021 07:31

I’m not damning them for it. Sounds like it was essential to minimise potential delay. Let’s all be big boys here. What we have learned is:

- Placing not as imminent as market may have expected.
- Supply issues. Could these continue to cause problems, even after taking this precautionary action?
- 2x cautioning about no guarantees of funding. This may well be something they are required to say when making a forward looking statement but I expect some may get spooked by it. Remember we had full consensus on here that there was no question over funding - to read these statements so late into the process will not sit well with some.

I agree with others on here that at least this does mean we have been very deep in talks relating to a farm out. Otherwise I expect a placing would have been done by now. Let’s hope they can get it over the line.

[bad gateway] 17/11/2021 07:29

Still too much art not enough science for a farminee to get involved imho.