Pembridge Resources Share Discussion Threads

[soulsauce] 25/6/2020 10:00

Well I hope you are right this time bigboots ;-)

[bigboots] 25/6/2020 09:49

Hope you followed me !!! this is going a lot higher, news is about to break.....

[daniel81] 25/6/2020 09:12

Here we go about to breakout here see 10p fairly soon….

[soulsauce] 24/6/2020 18:43

Wtf are you on about???

[tim000] 24/6/2020 18:15

Hmmm, you rubbish PERE (whilst being a shareholder?!) but go completely OTT on an explorer that has literally no proven resources and probably will never mine anything, whilst diluting shareholders multiple times to pay Directors’ salaries over the next few years. And has a higher mkt cap than PERE! Oh well....

[soulsauce] 24/6/2020 15:11

Lol bigboots really. Your posting history over the years has hardly been something to follow here.
You don't post often but reckoned to know what was going on in raisings with the curry club and other calls but often called it wrong.

So you overlook that then tim000. How can you trust a CEO that goes on the media singing his and Minto's praises a few weeks ahead of the wheels coming off at the first sign of a little difficulty. A good CEO would have had built in contingency.
Going forward you may be right. Short termers and rampers may push this up so Gati the great can get some more money away. May be that is why bigboots has resurfaced. Time will tell.

[bigboots] 24/6/2020 14:59

Been told that there is a big buyer in 150,000 clips, taking stock and bidding up the price

[tim000] 24/6/2020 14:51

I overlooked the reference to doing media in February. February was pre-Covid. As a new shareholder, I’m not too concerned about the past. The CEO has more limited responsibilities now, I’m much more interested in the cash flow that can be generated from Minto. That remains to be seen, but there appears to be rather more upside than the share price reflects.

[soulsauce] 24/6/2020 14:42

The CEOs job is not to go on Proactive and tell everyone all is swell so they buy more. If the company is in trouble you stay off the media unless you are suggesting the CEO knowingly misled to protect his assets?

[tim000] 24/6/2020 14:18

When did you hear a CEO say that things were bad and the company is in trouble?! What might that do to the company’s prospects of survival?! And the CEO’s job?! PERE is now an investment company with no operational responsibilities. In my opinion, its balance sheet is worth considerably more than £2-3 mn.

[soulsauce] 24/6/2020 14:14

Or was he just ensuring his loans did not default for his own benefit and thus the Yanks bent him over. All possible I suspect.

[soulsauce] 24/6/2020 14:10

Whoaa hold on tim000 Gati did an interview as late as February saying things were swell, laughing off Covid and asking shareholders to believe in him.Some people bought more on that clap trap, yet a few short weeks later and at the first sign of a little trouble he turns tail and the wheels fall off. The 100% of Minto which we were aiming for at the start of the process and had become 33% now turned in to 11% and the share price rightly reacted to management bafoonery.
Now if the mine is as good as supposed to have been when the contract was sorted then the longer term payments would have looked after themselves. The shorter term payments could have been found to a guy of Gatis stature in an afternoon.
So was the contract not worth the paper it was written on or did they suspect the mine would not pay enough to cover our commitments. I think probably a mixture of the two.

[tim000] 24/6/2020 13:54

Apparently South American copper miners are being far more badly affected by Covid than the Minto mine in the middle of nowhere. Supply destruction is pushing up the price, as we see. Copper looks a good investment. OT If people can trade Australian shares they should take a serious look at AIS.

[tim000] 24/6/2020 13:48

“The Bulls” need do no such thing, they just put their money into the equity of the company. It’s for others to decide whether to follow them!

[tim000] 24/6/2020 13:41

PERE was absolved from substantial future contingent liabilities. It wasn’t just a couple of million they got. I wouldn’t be so hard on the Directors, it’s not easy running a company when capital markets are closed and the share price is on its knees, and the company has no income and some debt. On a medium term view, PERE could do very well indeed, as Bigboots says.

[soulsauce] 24/6/2020 13:33

But is there any profit for Pembridge or likely to be for the foreseeable? And if it is such a good mine why did we let 22% of it go for the sake of finding Cad$2 to 3m in short term payments.

[tim000] 24/6/2020 13:28

Those are all reasons why the share price is depressed. I see value at the current share price, but I wouldn’t bet the house on the company.

[bigboots] 24/6/2020 13:27

As a quite sizeble investor here, if you care to spend the time and call David Jamnes, he will update you on the operations

All opertations have resumed and the first shipment of Copper is due to land in Japan any day now

"Things are going well" and hope to ramp up production on Copper

Furthermore look at the Al-Jebouri investments, that cements my view further

[soulsauce] 24/6/2020 13:23

tim000 that all depends on the carrying value of the mine as a whole. How do we know what the mine is worth now? 11% of not very much is not very much.
Where are the drilling results and assays that are so massively delayed, why no results or Agm yet?

[soulsauce] 24/6/2020 13:19

How do you know bigboots? Can you point me to anywhere that says the Minto copper is being produced at a profit?
In all possibility the Minto mine is still cranking up production and not helped by the Covid set back.

[tim000] 24/6/2020 13:17

11% isn't paltry when the mkt cap is £2-3mn! The company has stated that Minto is still ramping up production, so isn't profitable yet. But as far as I understand it, PERE has traded ownership rights for protection from additional mining costs. PERE has stated that the outstanding Director loan is covered by returns of surplus cashflow from the mine in 2022. That alone tells you the company is trading on a forward p/e of about one!

[bigboots] 24/6/2020 13:15

11% is more than enough to make a sizeable profit, where Copper is priced now

Japan paid top dollar to take all the output, so the value based on the 11% is circa 8-10m CAP

[soulsauce] 24/6/2020 13:11

May be when they get round to actually issuing some results we would know. 30th April last year, this year ???

[soulsauce] 24/6/2020 13:00

Bigboots and how much of the remaining paltry 11% of Minto production that we still own is being produced at a profit?