Paternoster Resources Share Discussion Threads

[okuta] 07/4/2015 09:52

agreed with PPG , movement there and rumours on the BB's that Plymouth will approve the planning permish this week .

[marab] 07/4/2015 09:44

okuta - MTR could do well if Kibo announces a deal, but PPG is the big one currently accounting for about on third of PRSs NAV. Just need to get rid of the overhang here before the share price can move back up.

[okuta] 07/4/2015 09:00

MTR looking strong this morning with more good things to come from them hopefully.

[marab] 07/4/2015 08:40

Current NAV around 0.395p this morning. That's a discount of 49.6% at 0.2p or 46.875% at 0.21p.

[marab] 02/4/2015 16:19

Might be getting near the end of the overhang. Can now only buy 1m for 0.2p. Earlier you could get 2m for 0.197p. Or MMs playing games again trying to shift some more shares.

[sweepie2] 02/4/2015 16:18

8m buy, nice

[marab] 02/4/2015 14:23

Looks like PRS is close to a 50% discount at these prices


SUMMARY
£


BISON, SHUMBA, ANDIAMO (PRS VALUATION)
346,579


ELEPHANT OIL (PRS VALUATION)
300,000


QUOTED AIM AND ISDX
1,343,041


GLENCORE, CAIRN, OPHIR, BG, JLP (ESTIMATE)
431,084


CASH IN HAND (AFTER H1 2015 COSTS)
128,377





SUMMARY



SHARES IN ISSUE
672,857,956


TOTAL - SHARES AND CASH
2,549,081


MARKET CAP
1,345,716


DISCOUNT
47.21%


NET CASH END JUNE 2015 ESTIMATE
128,377


INVESTMENTS VALUE
2,420,704


SHARE PRICE
0.20





QUOTED AIM AND ISDX
£


METAL TIGER
£229,310


MX OIL
£240,800


PLUTUS
£801,550


RED ROCK
£10,500


NORTH AMERICAN PETROLEUM (ESTIMATE)
£60,881


TOTAL
£1,343,041

[barnetpeter] 02/4/2015 13:02

Lots of holdings well up this week....no movement from this?

[oilbuy] 13/3/2015 09:42

Buy the dips !!!

[marab] 12/3/2015 11:51

gotabsirius - a lot of good points in your last post. It looks like the main points of contention are the lack of PR/news, adding a new director (and salary)which hardly seems warranted for such a simple company, and investing in the likes of Elephant Oil when there are lots of quoted opportunities as MTR have proved so well.

There is a big seller here but I agree with you that PRS at a discount to NAV of nearly 50% is not a bad place to have some cash invested for the potential, with PPG being the most important.

[gotabsirius] 11/3/2015 20:50

I think the talk of all the egm's and board resignations is a little strong imho. After all our largest investment currently is up over 300% and many other investments are being suppressed by global macro issues rather than poor iinvestments. Some just need more time to mature than others but give me prs anyday over individual companies in the aim lottery. Afterall one of nine investments could send the nav of prs way over 5million at any time..... Let's break this down a little. Ppg and the cluster of investments they group together equal well over the current MC (even though cairn got hammered today). Ppg looks a great little prospect to me and news could drop on that at any time on a number of fronts which could send it to 2p post haste. Mtr had a great update early in week on one of their major investments although rumours of a placing seem to be weighing on mtr. Great little company though with lots of working arms and potential money maker.....and then there's the link with kibo.... Nct look really strong with a new sence of ambition with much happening in Mexico and a Mc that again has just bottomed following a shake up. Then there's mxo which again looks well placed to pick up some blocks and partners in Mexico where the oil will be cheap and accessible. Shumba coal seems to have awoken as coal prices bounce 15% off the bottom with a major power project looking promising and a massive coal reserve with easy access to plant. Potential massive money makeright. Other investments are having slower progress but when the economics improve they will become our next focus for a nice return... Obviously not all will come to fruition but is the above summery of the assets mentioned totalling well over £2 million such a disgrace? I recognise some peoples frustrations but time will pay on this i feel and offers potential for much better returns than say a small cap fund. In my opinion a little perspective is required....

[marab] 11/3/2015 11:57

RG the important thing about the 5% is that it can call an EGM and at that point anyone can vote. People are more inclined to act when all they have to do is click their mouse buttons a few times to vote. Current NAV is around £2m not including the unquoted stuff. Plenty of scope there to hand out £1m in dividends and still leave £1m and a clean shell top play with.

[oilbuy] 11/3/2015 11:28

I presume you have tried to contact the board with no success and that's why you are posting on here ?What do you have in mind ?

[marab] 10/3/2015 20:30

R G Fletcher - surely you are not suggesting that someone buys 5% of the company for £60,000 (someone out there seems happy to sell millions of cheap shares), hold an EGM to get rid of the current directors, sell everything that can be sold, give shareholders a special dividend of some of the takings and start up a new profitable business?

[marab] 10/3/2015 07:52

'An EGM is called (will require the support of 10% of shareholders to call one)'

Only 5% needed as in this example