Paternoster Resources Share Discussion Threads

[sweepie2] 04/3/2016 17:51

Improving oil price will help the investment case at Atlas and Elephant given time and ultimately Bison, fingers crossed for a good quarterly update next week

[sweepie2] 04/3/2016 14:38

Thanks but not much good when price slips the following day, we need the quarterly update as that will emphasise the class between current price and value, as swizz pointed out this update is just days away

[maytrees] 03/3/2016 13:59

SP movement in the right direction at last - well done sweepie2.

[swizz] 03/3/2016 11:03

I see L2 has firmed up to 4 v 1,.....GL S

[swizz] 03/3/2016 10:56

s2, cheers, but more luck than judgement, but it would be good to see a re-run of the share price as per October/November last year....GL S

[sweepie2] 03/3/2016 10:52

Swizz well done for your timing as bid is now what you paid

[sweepie2] 03/3/2016 10:00

Full offer wanted over 1m

[sweepie2] 03/3/2016 08:33

Price is 50% too low even considering illiquid investments that PRS have, NAV will be around .40p alittle lower as a result of PPG being weaker in price imo

[swizz] 03/3/2016 08:14

Dipped my toe back in today, hopefully the next update which is due, will underline the value here....GL S

[sweepie2] 02/3/2016 08:51

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce an update in respect of the Company's Joint Venture ("JV") with MOD Resources (ASX:MOD) ("MOD") in the Kalahari Copper Belt.



Highlights:



· Significant widths of visible, disseminated Cu mineralisation intersected in first five reverse circulation ("RC") drill holes completed at Tshimologo Prospect (Target 'T4'), 25km north of Ghanzi Town.



· Tshimologo occurs along the same regional structure that hosts MOD's high grade Mahumo Cu/Ag deposit and Cupric Canyon Capital's >2Mt Cu Zone 5 deposit.



· The widest mineralised interval extends approximately 42m down hole, from 65m to 107m depth in hole MO-A-04R, within an interpreted shear zone.



· Tshimologo is structurally complex and further drilling is required to estimate true widths of the recent intersections. Cu grades will be reported when assays are received.



· Cu occurs in two distinct zones: Mahumo type sediment hosted contact mineralisation and shear related mineralisation associated with quartz veining.



· The only outcrop is a 30m to 40m wide area of quartz veining and early prospector pits within the shear zone. Samples of quartz veins have been sent for precious metal assay.



· Drilling is expected to resume at Tshimologo once initial assays are received. In the meantime drilling will test two separate targets at T2, 6km east of the Mahumo deposit.



· Recent soil sampling has also confirmed a Cu anomaly at T3 in the centre of the Mahumo Structural Corridor, ~70km NE of Tshimologo. Soil sampling is ongoing in several areas.





Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: "We are extremely pleased to see the progress being made in the drilling programme both in terms of the efficiency of operations by our JV partners and also the extent of visible mineralisation already identified.



Given the progress achieved and the extent of mineralisation identified we are looking forward to receipt and interpretation of the assay results and the completion of the remainder of this stage of the drilling programme.



Further updates will be provided to market in due course."

[sweepie2] 01/3/2016 22:13

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce the Company has signed a Memorandum of Understanding ("MoU") with Ariana Resources plc (LON:AAU) for the review, exploration and development of lithium-tantalum opportunities in the Malay Peninsula, and specifically within Thailand and Myanmar.



Highlights:



· Initial work undertaken by both Metal Tiger's Thai JV operating partners and Ariana Resources technical teams indicate substantial lithium-tantalum prospectivity in the Malay Peninsula.



· Metal Tiger and Ariana Resources to collaborate on lithium-tantalum projects specifically in Thailand and Myanmar under an MoU and informal 50:50 Joint Venture ("JV").



· A formal lithium JV structure will be adopted once specific projects are secured, although both companies have the right to assign their interests in the MoU to other group companies or to third parties at any time.



· Metal Tiger's Thai JV operating partners are undertaking a detailed review of Thailand lithium prospectivity and have identified numerous targets for further investigation.



· Licence applications over suitable targets will be submitted by Metal Tiger's Thai JV operating partners and notified to the market when granted.



· Subject to licencing, the market will be notified of planned work programmes and the outcome of material work undertaken.



Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: "We are delighted to sign this MoU with Ariana Resources who have very recently demonstrated an ability to crystallise commercial value from lithium interests, as demonstrated by their 86% held subsidiary Asgard Metals Pty Ltd selling a package of tenements in Australia to ASX Listed Dakota Minerals Limited (ASX:DKO), completion of which was announced on 23rd February 2016.



The Metal Tiger Thai JV team have longstanding experience of working in Thailand and the team includes geologists with an understanding of the potential lithium-tantalum prospectivity in country. The work undertaken to date reviewing this prospectivity has highlighted numerous targets in respect of both in-situ mineralisation and tailings that may be processed further.



We look forward to working with the Ariana Resources team to identify and develop lithium-tantalum deposits in Thailand and Myanmar."

[sweepie2] 01/3/2016 10:55

MX Oil plc ("MX Oil" or the "Company")



Loan Note Conversion, Director's Dealing and Issue of Equity



MX Oil, the AIM quoted oil and gas investing company, announces that, further to its announcement of 17 December 2015, it has received notification from loan note holders, which includes Nicholas Lee, a director of the Company, to convert loan notes and accrued interest totalling £290,587.50 into 23,247,000 new ordinary shares ("Conversion") at a conversion price of 1.25p per new ordinary share.



Following this conversion, the balance of loan notes outstanding is £1,576,500.



Director's Dealing



A Director of the Company has converted shares as follows:



Director
Value of loan notes held (£)
Value of loan notes and interest converted (£)
Interest in ordinary shares prior to Conversion
Interest in ordinary shares following Conversion
Interest as a percentage of current issued share capital
Nicholas Lee
12,000
12,300
0
984,000
0.21%


Issue of Equity



Application will be made for the 23,247,000 new ordinary shares subject to Conversion to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 7 March 2016. The new ordinary shares will rank pari passu with the existing ordinary shares of the Company.



Following the issue of equity above, the Company will have 466,606,740 ordinary shares in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. The above figure of 466,606,740 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

[sweepie2] 29/2/2016 15:34

Completion of Joint Venture Agreement with Randgold Resources

Kossanto West Gold Project, Mali



Alecto Minerals plc (AIM: ALO), the African-focused gold and base metal exploration and development company, is pleased to announce that it has received formal confirmation from Randgold Resources that all conditions precedent mentioned in the Joint Venture Agreement, for the exploration and development of Alecto's 137 km2 Kossanto West Gold Project in western Mali, have been satisfied. For further information on the agreement, please view the announcement dated 8 February 2016.



Alecto CEO Mark Jones commented, "Whilst satisfaction of certain conditions in the joint venture agreement signed with Randgold Resources was essentially a formality, we are delighted to receive formal confirmation and we hope that this will give shareholders the confidence that the joint venture is moving ahead as planned. We have been working with the Randgold team over the past three weeks to ensure that they are fully prepared for commencing work on the ground, and we look forward to updating the market on their progress at the appropriate time."

[sweepie2] 26/2/2016 18:58

Sale of investment in Aje Field offshore Nigeria



MX Oil plc, the AIM quoted oil and gas investing company, is pleased to announce that it has now agreed terms for the sale of its investment in the Aje Field offshore Nigeria to GEC Petroleum Development Company Limited ("GPDC"). GPDC is a Nigerian company actively exploring and developing oil and gas resources in the Niger Delta and Anambra basins. GPDC operates two licences offshore (OPLs 2009 and 2010) and two licences onshore (OPLs 907 and 917), along with OML 149 in joint venture partnership with Eni/Nigerian AGIP and Seven Energy. GPDC holds significant interests in these assets and has 2P Reserves (net) of 16mmboe and 2C Resources (net) of 139mmboe. GPDC has total estimated gas resources of 6.4TCF and oil resources of some 1.3 billion barrels. It is the wholly owned exploration and production subsidiary of Global Energy Company Limited ("GEC"), an energy resources and infrastructure group focused on Africa. GEC has been established for over 23 years.



Further to the announcement of 2 February 2016, under the terms of this agreement, GPDC has the right to acquire the Company's indirect investment in the Aje Field for a total consideration of US$18 million. Initially up to US$3.5 million will be advanced to the Company in three stages, with the first payment of US$2 million expected on or around 14 March 2016. These funds will be used to finance the remaining cash calls expected to be required for the investment in order to bring the underlying asset into production.



GPDC will then have the right to acquire the investment, which is most likely to be when initial oil production commences. On exercise of this acquisition right, the Company will receive one payment of US$5.75 million and then a second payment of US$5.75 million six months later. The balance of US$3 million will then be paid in three annual US$1 million instalments from the date of the exercise of the acquisition right, although these payments may be accelerated in the event that the oil price exceeds US$45 per barrel for a three month period.



MX Oil's Chief Executive Officer Stefan Olivier said, "We are delighted that we have now been able to finalise agreement for the sale of our investment in the Aje Field with GPDC which already has substantial assets within the region. I look forward to updating the market as the sale progresses and the Aje Field nears production."



GPDC's Chairman/CEO Joe Obiago said, "We are very excited by this transaction. The Aje Field (and OML 113) is a strategic fit for GPDC as it adds 10mmboe 2P net reserves and helps diversify our asset portfolio into the resources rich Dahomey basin and the medium to long term gas supply play of Lagos and the West African corridor, which is an important hedge against volatile oil prices. The asset complements our existing portfolio of five prime assets at various stages of development and achieves our immediate corporate objective of first production milestone in 2016."



* * ENDS * *

[luckyphilip] 26/2/2016 08:47

And furthermore if they hadn't sold a portion in November Plutus share price and therefore paternoster would be much higher. I don't rate paternoster management but do rate Plutus .

[luckyphilip] 25/2/2016 12:25

Huge mistake made by paternoster selling some of their stake in Plutus . It is the only one of their investments that will make serious money for them

[sweepie2] 25/2/2016 11:44

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."

[sweepie2] 24/2/2016 15:35

Missed this one

MX Oil plc ("MX Oil" or the "Company")

Update and Issue of Convertible Loan Notes

MX Oil plc, the AIM quoted oil and gas investing company, is pleased to announce that the proposed sale of its Nigerian investment continues to progress well with due diligence and definitive legal documentation being at an advanced stage. The transaction is, however, still subject to contract and the completion of due diligence and therefore there can be no guarantee that a transaction will be completed. The Company expects to make a further announcement on this shortly.

The Company is also pleased to announce that, further to the announcement of 17 December 2015 regarding the issue of convertible loan notes ("Loan Notes"), it has raised GBP600,000 through an additional subscription of Loan Notes, principally to fund its Nigerian investment and progress CPR work in Mexico. The Loan Notes pay a coupon of 12 per cent. per annum and are convertible, at the election of holders, into ordinary shares of the Company.

As announced, certain of the Loan Notes in issue, which ordinarily convert at 4.5 pence per share, may be converted at a price of 1.25 pence per ordinary share until 28 February 2016. The balance of the Loan Notes, which includes this issue, may be converted at 1.25 pence per ordinary share or, on the occurrence of specific events which trigger repayment and repayment does not occur, around the then prevailing market price of the ordinary shares. The Loan Notes are secured and will be redeemable, together with all interest due, on the first anniversary of issue. Following this issue, the balance of Loan Notes outstanding is GBP1,860,000.

The current issued share capital of the Company consists of 438,095,740 ordinary shares of 0.01 pence per share.

MX Oil's Chief Executive Officer Stefan Olivier said, "We are very pleased with the progress that is being made with regard to the proposed transaction concerning our Nigerian investment. We are also encouraged by the continued interest in the Company from investors which has enabled us to raise funds from an additional issue of loan notes. I look forward to updating the market again shortly."

[sweepie2] 24/2/2016 15:08

More good news

Disposal of ECR Minerals Shares



Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update with regard to its holding in ECR Minerals plc (LON:ECR).



On 18th November 2015 Metal Tiger participated in an ECR Minerals fundraising purchasing 500 million ECR ordinary shares at a price of 0.02p per share and 500 million 0.04p 3 year warrants for a total consideration of £100,000.



Metal Tiger has now disposed of all its 500 million shares in ECR Minerals at an average sales price of 0.036p per share generating cash for the Company of £180,000 and a profit on its investment of £80,000.



The Company retains its 500 million warrants, which can be exercised at any time until November 2018 at a price of 0.04p.



Paul Johnson, Chief Executive Officer of Metal Tiger said "we are pleased to have achieved this disposal, at a material profit and over a short period of time. We retain the warrants and therefore an exposure to any further share price increase above 0.04p achieved by ECR Minerals plc going forward.



Metal Tiger is in a proactive phase in its development and the additional cash funds generated by this disposal put the company in a position to consider further opportunities over and above investment activities already announced to market."

[sweepie2] 24/2/2016 14:50

More good news and down we go!!!!!

Update on Funding Strategy for Future Projects



Plutus PowerGen plc, the AIM listed power company focused on the development, construction and operation of flexible stand-by electricity generation in the UK, is pleased to announce an update with respect to its financing strategy for its future pipeline of projects. As previously stated, the Company is committed to raising the total funding of approx. £5.4m required for each 20MW project of flexible power generation, including capital expenditure, working capital, fees and contingency, with minimal dilution to shareholders.



To date, the nine projects for which PPG has management contracts have been equity funded by third party investors whereby PPG does not hold a majority shareholding in these vehicles. In order to capture a greater return for the Company and to maximise the Company's exposure to project uplift in the future, PPG is aiming to secure larger majority equity stakes in projects (between 80-100%) going forward. The Directors believe that the funding for each new project could typically comprise of 80% debt and 20% equity funding and it is expected that the equity portion will be funded by PPG. Accordingly the Company has appointed a corporate finance house to raise a minimum of £3.5 million by way of a five year listed bond the proceeds of which are intended to fund the PPG equity component for three additional 20MW projects where PPG controls a majority stake. Concurrently the Company is in discussions with a range of third party debt providers for senior lending for the debt component of the individual projects which will be majority or wholly owned by PPG. The Directors are confident the projected cash flow from these 20MW projects is capable of servicing both interest and capital repayments on this increased element of debt funding. In addition, it is envisaged that each new project will pay a management charge to PPG. The management fees received from the new majority owned projects are expected to be more than sufficient to pay the interest on the proposed listed bond.



PPG CFO James Longley said, "We believe that the next important milestone for PPG is the delivery of non-dilutive financing for individual projects in which the Company has a majority or 100% stake. Our success in gaining £33.2 million from Rockpool for our first nine projects is testament to the strong appetite for flexible energy generation projects in the UK due to the considerable supply/ demand imbalance, and in consideration of this, I am delighted to have commenced work to raise a minimum of £3.5 million via a listed bond.

[sweepie2] 23/2/2016 18:57

Won't be cracking the champers open just yet

[maytrees] 23/2/2016 14:44

An share price gain - patience now key for PIs?

[maytrees] 23/2/2016 07:52

Good morning

Despite my post above expressing disappointment at the continuing share price falls yesterday I have not sold.

Interesting to note an increased holdings rns this morning - Beaufort Nominees increasing their stake.

[maytrees] 22/2/2016 12:50

Greetings sweepie2

Yet still the share price falls