Paternoster Resources Share Discussion Threads

[higson1] 04/10/2016 19:11

Look at the man running this and what he's paid. Time for s change we all think .

[h d shoring] 04/10/2016 09:32

Plutus up,metal tiger up mx oil up--- Fed up-- prs we are working to get it up .
Might I suggest the directors rub it harder ?? lol

[sweepie2] 27/9/2016 16:31

Good business getting in at that price into OTC, I guess it was a sweeter selling Andiamo to them for £50,000 as that represents a hell of a loss against what they invested

Paternoster announces that it has subscribed for 640,000 new ordinary shares in Andiamo at a price of US$ 50 cents per share, as part of a fund raising of up to US$ 3 million, representing an investment, in aggregate, of US$ 320,000. This would value Andiamo at US$ 12 million on a pre-investment basis.

[barnetpeter] 16/9/2016 08:15

Very good results with assets way above double the share price. Anything below .25 is a bargain.

[higson1] 11/9/2016 16:05

NL needs to pull his finger out swiftly. He does not own many shares and now most shareholders would not support him if a motion to remove him at the next GM is proposed.

[sweepie2] 09/9/2016 10:19

That's more like it sadly unless there is a leak which is unlikely this will retrack its gains next week but holding and hoping that NL gets back to his early form and starts to treat it as a business instead of life style business

[sweepie2] 06/9/2016 18:19

Polemos had a good day up by 25%, on paper at least there is a 100% uplift on price paid

[sweepie2] 04/9/2016 20:24

Never mind while we wait made 65% on HNL in 10 days, this will come good at some stage but problem is I will be in an old peoples home by the time it does though

[higson1] 22/8/2016 10:48

I wish that Nick would concentrate on getting the share price closer to NAV . Shareholders are getting restless .

[sweepie2] 22/8/2016 08:26

Alecto Minerals plc ('Alecto' or the 'Company')

Letter of Intent for Earn-in Agreement for Kossanto East Gold Project

Alecto Minerals plc (AIM: ALO), the Africa-focused gold and base metal exploration and development company, is delighted to announce that it has signed a non-binding letter of intent ('LOI') with Ashanti Gold Corp. ('Ashanti'), a Toronto Venture Exchange listed public company (TSX: AGZ.V), for Ashanti to earn an interest in the Company's Kossanto East Gold Project (the 'Project') in western Mali, which has a JORC-Code compliant mineral resource estimate of 247,000 oz Au and significant further upside potential.

Highlights:
· LOI envisages Ashanti having the right to earn-in for a 65 per cent. interest in the Project (the 'Earn-In') by completing a Preliminary Feasibility Study ('PFS') within a period of 36 months (the 'Option Period')
· Should Ashanti not complete the PFS within the Option Period, it may instead elect to pay, in cash, US$4 million to Alecto within 90 days of the end of the Option Period in order to satisfy the Earn-In requirement
· Ashanti will be the operator of the Project's exploration and development programmes during the Option Period
· Upon completion of the Earn-In, Ashanti and Alecto will form a joint venture and contribute proportionally to the Project's continuing exploration and development
· If either party's interest falls below 10 per cent. then that party's interest will convert to a 1.5 per cent. net smelter return royalty ('NSR'). The other party shall then have the right, for a period of one year thereafter, to purchase the NSR by paying US$100,000 for each 0.1 per cent. (up to a maximum of US$1.5 million)
· Entering into a binding agreement in due course will mark the completion of Alecto's strategy to continue to participate in its exciting exploration portfolio in Mali, without further funding contributions in the medium term, thereby allowing the Company to concentrate on its primary goal of becoming a gold producer in Southern Africa

A further announcement in respect of the Earn-In will be made at the appropriate time on agreement of and entering into definitive legally binding documentation.

Mark Jones, Alecto's CEO, commented:
"We are delighted to announce such a positive step to potentially expand the exploration and resource potential at our Kossanto East Gold Project in western Mali. Kossanto East was the exploration focus for our field teams throughout the 2013-2015 work seasons, which culminated in the establishment of a JORC-Code compliant mineral resource estimate of 247,000 oz Au.

"Field work to expand this resource across well-defined exploration targets was curtailed in 2015 when global funding sources for such exploration activities effectively dried up. During the 2015 field season we worked closely with neighbouring Desert Gold Ventures Inc. to complete an internal scoping study for potential joint small scale production. Whilst the economics were positive, it was clear that both company's projects would benefit from additional exploration in order to maximise the potential for future production.

"In the prevailing gold price environment it is clear that there is a renewed interest in gold exploration, and our proposed partnership with Ashanti will enable us to realise the full potential of Kossanto East. With the Gourbassi deposits open along strike and some excellent initial results from exploration targets such as Berola (15 metres @ 1.18 g/t Au from surface) we are confident that together we will be able to build a larger mining play at this very exciting project area. In addition, the option remains to work with Desert Gold, should it serve the interests of all parties. This complements perfectly our existing joint venture with Randgold Resources Limited at the neighbouring Kossanto West project, and our joint venture with Kola Gold Limited at Karan in southern Mali. While these continue to create value, we will focus on bringing the Matala and Dunrobin Gold Projects in Zambia into production."

[chimers] 11/8/2016 16:31

Basically nothing in that post is correct lol.

[twodegrees] 11/8/2016 16:29

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 company....you could not make this up.. so how far will this now take Paternoster down...????????

[chimers] 11/8/2016 15:56

You see to get their unwanted PLMO stock away they had to find a chump.
Enter NL.
Now that they swapped it for PRS paper they can dump until this too runs out of fools.

Going by the posts though that may take some time!!
The running out of fools I mean.

[family values] 11/8/2016 15:47

Buys flying in

Blue finish.

[johndee] 11/8/2016 15:42

PLMO is the one to get in on this deal now. Well worth buying PLMO.

[family values] 11/8/2016 15:37

Blue finish anyone?

[paleje] 11/8/2016 15:33

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.