Pembridge Resources Share Discussion Threads

[soulsauce] 27/8/2020 09:25

No surprise bazz. It tells us very little.

[bazzerhino] 27/8/2020 09:14

RNS has done Fall for the share price

[soulsauce] 27/8/2020 07:42

Another Minto Rns full of detail and enthusiasm - not.

[uknighted] 27/8/2020 07:25

RNS Minto second shipment of copper concentrate.

[soulsauce] 19/8/2020 11:41

I hear ya rossannan but I doubt wind and p*ss from certain quarters is not going to get this to the levels we need to leave quietly and put it down to experience.

Unfortunately we are going to need the BoD to do what they haven't managed to before and build shareholder value here instead of destroy it due to sheer incompetence.
I won't be holding my breath for Gati the great though.

[soulsauce] 13/8/2020 15:52

rossannan can you shout tidy2, this is going in the wrong direction once again.

[soulsauce] 06/8/2020 13:28

😄😄😄

[soulsauce] 05/8/2020 13:23

Hi rossannan.

Bigboots and tidy2, yes two big red flags there.
Uninformed speculation, bring it on but let's hope that something may develop that is a little more tangible, however unlikely that may be.

[soulsauce] 03/8/2020 19:46

What I would say cyberhub it might be a decent punt but there has to be a lot of shares ahead of this that are better punts. There are too many red flags here, the management referring to themselves as best in their field being the main one.

[cyberbub] 03/8/2020 19:12

Ah yes good point of course the loan comes back from Minto to Pembridge but is then owed to Gati as you say.I agree the management have screwed things up big time compared to their original plan. So another risk of course.I guess the question is just whether they have now got stability in the arrangements, and whether Minto will actually deliver... I would much prefer them to wait 18 months before making further investments needing dilution at 3p!!

[cyberbub] 03/8/2020 18:10

Thanks soul got it now.So my understanding is as follows:* Pembridge have a 11% totally free carry in Minto, no more funding required. So they get 11% of net post-tax profits.* Their market cap is around £3.5M if you assume 100M shared with all the warrants and options already outstanding, plus authority for new shares?* They should get back over £3M in a loan they have given to Minto, sometime in the next 18 months. So (if you believe they will get this repaid) then their holding in Minto is thrown in for free...* Minto are now producing and exporting concentrate, presumably breaking even or at a modest loss although we can't be sure. Meanwhile copper prices are rising and there must be at least a strong likelihood that Minto will be starting to make money in the next 3-6 months ?* The CEO has plenty of skin in the game via his shareholding and big loan to the company.* I guess the risk is that the Pembridge management start issuing more shares at the current depressed share price - I note that they have given themselves authority for another £150k nominal value, but this is only 15M shares as the nominal value is 1p. And would the CEO really issue more shares and dilute his holding, at 3p? At 10p+ maybe yes.* It seems to me that surely in the not too distant future Minto must be targeting a significant profit, of which 11% will come Pembridge's way? How much will that be? £2M p.a.? More? If so then the PERE market cap would surely be more like £20M+?* The company says it has enough cash to pay its bills until Minto profit share starts rolling in. They raised almost 400K a couple of months ago and we can assume that they will issue the 15M shares for which they have authority, can we optimistically say at 10p? I would hope no lower than 6-7p anyway, which would bring in another mill, and be definitely enough to see them through IMO.* What are the risks?1. Minto is a flop and goes bust again, either for technical reasons or because the copper price slumps.2. The CEO takes the company private as it seems hardly worth the main market listing at the current cap unless they need to raise more money. Directors have enough to break the 30% barrier just about. (Personally I think that unlikely, as they only relisted 8 months ago, but not impossible. More likely a downgrade to AIM IMO).3. They start issuing mountains more shares at these prices and lower for other acquisitions/frippery/director lifestyles and seemingly quite high salaries for a tiny company (although the CEO has halved his).4. There was no statement about current financial / cash position in the recent accounts. They could run out of cash.5. An overhang of 11M shares at 3.3p.What do people think?