Papua Min Share Discussion Threads

[cpap man] 12/10/2017 13:45

PML looking v.good for a mega share price rise!!!!

[cpap man] 12/10/2017 13:43

Ref: PML GM tomorrow in London



paul johnson‏
@pauljohnson9691

Following Following @pauljohnson9691

#PML GM tomorrow in London if you can make it. With shareholder approval a new beginning in Australian #Gold, #Copper and #Zinc

[bigboots] 12/10/2017 13:40

Massive interest here

MCAP of £3.4m

PML to acquire three highly prospective gold and base metal projects in Queensland, Australia from a private company BGM Investments for a consideration of £648K (£50K cash: £598K in shares)

Placing proceeds to finance project acquisition and provide exploration funds for 6 to 12 months for new projects, along with plc overhead costs.

[errollc] 21/9/2017 07:36

Maybe THAL had its own deal and this wasn't accepted by the Board....so they got the hump?

Like it or not, PML has new found support, now has a much better story and half decent funding. I don't think PJ will have much to do with the company aside from his usual tweeting rubbish.

[2magpies] 20/9/2017 10:54

Either that or they are not interested in Australia gold/copper etc.

But the fact that they have exited a position of 40m shares, and the share price has risen says something.

[paleje] 20/9/2017 10:31

No reason for yesterday's spike. The new guys may or may not be ok we don't know yet, but I'm assuming there's no near term news on PNG or THAL wouldn't have exited so other than ramping which includes PJ tweets, why.

[qs99] 20/9/2017 08:04

more today do we think?

[errollc] 20/9/2017 07:33

This has good prospects....the assets in Papua remain an 'elephant' with massive long term possibilities whilst the new Aussie assets could show positive results in the near term...very near term (weeks/months away).

Think this will surprise people with what they have got.

GLA

[qs99] 19/9/2017 23:10

Looks like a great end to the day with that spike IMO... GLA

[shirley83] 19/9/2017 19:28

This will get recognised soon enough and the herd as per usual will follow

[letmepass] 19/9/2017 16:47

Don't think alot of people understand the quality of the management team and the commitment here.. Big big opportunity for those in early

[errollc] 19/9/2017 07:25

I understand BGM has good assets and I'd expect positive news coming from there in the coming months.

Seems an excellent fit with Papua Plc and the assets in PNG.

[paleje] 18/9/2017 16:10

Yes it's interesting but not plain sailing, Soukup bought in because he liked the PNG asset but he's quitting now so things presumably don't look as rosy, that's a concern. I know PJ generates publicity but he doesn't always create value and there are more mouths to feed now. The raise is equal to the current mcap but at a discount to the share price so a bit of dilution, probably not significant if they get things right. I'll keep my modest holding for now and see what happens.

Interesting was probably the right word cpap.

[cpap man] 18/9/2017 12:20

All looks extremely interesting to me at PML

Great to see PJ on board with by all accounts big £ backing £ for PML

[cpap man] 18/9/2017 11:40

PML



Papua Mining plc



("Papua" or "the Company")



Proposed Acquisition of BGM Investments Pty Ltd ("BGM"),

conditional Placing to raise up to £2,000,000 through the Placing of up to 133,913,044 New Placing Shares and

Placing of 40,000,000 Thalassa Placing Shares and

Proposed Board Changes



Papua Mining (LON: PML), the natural resource exploration company, is pleased to announce a proposed strategic acquisition of precious and base metal interests in Australia.



Highlights:



- Conditional acquisition of BGM, a private Australian company with three projects covering gold, copper, silver and zinc exploration targets in Queensland, north eastern Australia;



- Acquisition cost of £648,000 payable through the issue of 52 million Papua shares at 1.15p per share (totaling £598,000 in shares and fixed at the mid-market price at the time the transaction was provisionally agreed) together with £50,000 cash;



- Conditional placing to raise £1.85 million at 1.15p per share which includes the proceeds of the disposal of 40,000,000 Ordinary Shares by Thalassa Holdings Limited. The balance of £1,390,000 (before expenses) to be applied to working capital for Papua and its diversified portfolio;



- In addition, Michael Somerset-Leeke, a director of the Company, has indicated an intention to subscribe for up to £149,500 of new shares at a price no less than the proposed placing price of 1.15p per share;



- Proposed appointment of David Price and John Haggman, both current shareholders and directors of BGM as CEO and Technical Director respectively. Paul Johnson becomes a new non-executive director;



- Proposed board members to invest £118,400 in the Placing;



- The Company intends to use the net proceeds of the Placing to carry out further exploration of the licences in Queensland and maintain the Company's projects in PNG; and



- Transaction subject to shareholder approval at a General Meeting. A circular and notice of General Meeting is expected to be published shortly.



Hugh McCullough, Director of Papua Mining commented: "After an extensive search for new opportunities we are delighted to announce this proposed acquisition, which we believe will refresh and reinvigorate Papua Mining.



Our work in Papua New Guinea has advanced materially our knowledge of the targets in country where we are searching for high-impact copper porphyries, and following that work we now have an extensive geological database that we believe holds considerable value.



We recognise however that the market is keen to see the Company broaden its interests and consider the project portfolio of BGM is ideally placed to deliver rapid yet moderate cost exploration findings in a well-known and highly prospective area of Australia.



The balanced mix of interests, with copper, silver, zinc and gold at the core, provides inherent resilience with the robust strength in copper and zinc commodity pricing of late, complemented by the protective nature of precious metal - gold interests should there be a flight to safety reflecting world political and economic events.



I would like to thank shareholders for their continuing support, and welcome our new shareholders as we embark on this exciting opportunity in Australia.



I would also like to thank the outgoing directors who have served, for little or no compensation, during the turbulent times of recent years given the difficult market for resource juniors."

[paleje] 18/9/2017 11:23

2m Conditional Placing at 1.15p with warrants at 2.3p, acquisition of BGM, THAL out, Paul Johnson in plus 2 directors from the acquisition co.

So Soukup not happy to back further, PNG takes back stage to Queensland it seems, at least for now.

[2magpies] 14/9/2017 08:52

Yes, I noticed that too.

Nicely understated.

[kooba] 13/9/2017 16:36

your Board is engaged in discussions which it is hoped will lead to an improved outlook for the Company and its shareholders. A further announcement will be made as required.Equals reverse takeover on way imho.

[happyholder123] 09/9/2017 10:10

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!

[paleje] 30/6/2017 08:07

It was expected they'd need more cash, they can't run on fumes.

[euclid5] 30/6/2017 08:00

"As noted in the Chairman's statement, Papua Mining plc will continue to seek additional equity funding as and when available in order to continue its exploration programmes in the short term and for general working capital purposes"

[encarter] 30/6/2017 07:59

Oh dear. Results out, they need to raise cash.

[x54v] 02/6/2017 20:01

4.5p would be an impressive move.

Market cap is tiny here so it's certainly possible. In the words of Jim Slater:

"Elephants don’t gallop, but fleas can jump over two hundred times their own height".