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(PML) Papua Mining plc Share Chat

Discussion in 'General Share Chat (PML)' started by jackjack, Jun 3, 2017.

  1. jackjack

    jackjack Administrator Staff Member

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    http://papuamining.com/

    Papua Mining plc is an exploration company with projects in Papua New Guinea in the Ring of Fire region, exploring for large scale copper-gold porphyries similar to Grasberg, Bougainville & Wafi-Golpu and major gold deposits such as Ok Tedi and Lihir. The Company commenced trading on the AIM exchange on 2 March 2012.

    Shareholding
    Percentage of ordinary shares not in public hands at 17 October 2016: 69.6%

    Thalassa Holdings Limited 40,000,000 26.71%
    Michael Somerset-Leeke 37,991,102 25.37%
    Salida Capital (Europe) Limited 14,885,000 9.94%
    SouthPacific Mining Holdings Limited 11,384,621 7.60%

    Shares in Issue:
    149,772,201 ordinary shares of £0.001 each

    (Website has not been updated to include PJ/MJ holding or recent RNS)


    Company Presentation from 2014
    http://papuamining.com/wp-content/uploads/140517-Presentation-for-Website.pptx
     
    Inspiration likes this.
  2. jackjack

    jackjack Administrator Staff Member

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    For those interested:

     
  3. jackjack

    jackjack Administrator Staff Member

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    Reasons for recent increase in share price:

    RNS 24/05/17 - Holdings
    Papua Mining plc (the "Company") was notified on 24 May 2017 that Paul and Michelle Johnson have a beneficial holding of 5,000,000 ordinary shares of the Company, representing approximately 3.29 per cent. of the issued share capital of the Company.

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PML/13237573.html

    RNS 06/02/17 - Exploration Update
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PML/13118776.html

    This new work expands our area of interest in this highly attractive, mineralised porphyry system with the potential for a number of porphyry centres within the system as a whole. We believe that the exploration results to date clearly support our view that the Mt. Visi area is a prime target for the location of significant, mineralized copper porphyries.

    The data obtained has validated the decision to undertake further work at Mt. Visi and, whilst there can be no guarantee of commercial success, Mt. Visi remains an exciting target. Further exploration work in this area is clearly warranted in order to delineate drill targets and details of such work will be announced in due course.
     
    Inspiration likes this.
  4. jackjack

    jackjack Administrator Staff Member

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    Increased Twitter commentary:

     
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  5. Inspiration

    Inspiration Moderator Moderator

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    Last edited: Oct 18, 2017
    tricombe and jackjack like this.
  6. tricombe

    tricombe Member

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  7. stockman

    stockman Demi God of BlueShare

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    Hi Claire, going to start doing some research here too.
     
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  8. Inspiration

    Inspiration Moderator Moderator

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    I noticed you left the Twitter group, Claire, have you sold?
     
  9. Inspiration

    Inspiration Moderator Moderator

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  10. tricombe

    tricombe Member

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    No I still hold. Sorry I should really have said something rather than just leaving.

    I have quite a few things going on at home at the moment that need focussing on. I only have a small holding here so happy to let it do it's own thing for a while.
     
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  11. Inspiration

    Inspiration Moderator Moderator

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    It looks as if there's a distressed seller around, as the sp has dropped back to the placing price. (The XTR placing doesn't seem to have gone well, so maybe the seller is connected with that?)

    Full ask looks like a bargain, but it may be possible to buy even cheaper by setting a limit order.

    This is well below the prices that PJ has paid and he has invested heavily, although most of his holding is at the placing price, as expected. He would also need to declare any trades, as he's a director.

    Director buys:
    http://www.hl.co.uk/shares/shares-search-results/p/papua-mining-plc-ordinary-0.1p/director-deals

    Live prices:
    https://beaufortsecurities.moneyam.com/trades/PML/Papua-Mining.html-trades

    Some of the trades are hidden on NEX http://www.nexexchange.com/company-all-latest-trades?isin=GB00B42TN250&listingtypeid=PLSU
     
    Last edited: Nov 20, 2017
    tricombe likes this.
  12. Inspiration

    Inspiration Moderator Moderator

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  13. mart101

    mart101 Demi God of BlueShare

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  14. Inspiration

    Inspiration Moderator Moderator

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    Name change to Rockfire (ROCK)

    Monday 18 June, 2018

    Papua Mining Plc
    Result of AGM and Change of Name
    RNS Number : 7288R
    Papua Mining Plc
    18 June 2018



    Papua Mining plc

    Result of Annual General Meeting and Change of Name

    18 June 2018

    Papua Mining, the copper and gold exploration company, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held earlier today (the "Meeting").

    Resolutions 2 and 3 were withdrawn before the Meeting.

    Company presentation

    Following the Meeting, the Company will present a new corporate presentation to Shareholders. The presentation can be found at http://www.rns-pdf.londonstockexchange.com/rns/7288R_1-2018-6-18.pdf.

    Change of Name

    Following approval at the meeting, the Company's name will be changed to Rockfire Resources Plc. The Company will provide a further update when the change becomes effective on AIM. The Company's ISIN and SEDOL will remain the same and existing share certificates will remain valid and will not be replaced.
     
  15. Inspiration

    Inspiration Moderator Moderator

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    Maybe Michael Somerset-Leeke's past hasn't helped the share price. I can't remember if this has been posted before:


    Once-banned trader Michael Somerset-Leeke behind Aim-listed Papua Mining
    Michael Somerset-Leeke, the former stockbroker who has twice been subject to regulatory investigations and once banned from trading for three months, has emerged as the major force behind listed mining group Papua Mining.
    [​IMG]
    Papua Mining is an Aim-listed group with exploratory mining rights in Papua New Guinea Photo: AFP

    [​IMG]
    By Jonathan Russell

    7:29PM GMT 05 Mar 2012


    Mr Somerset-Leeke is the founder and 20.4pc shareholder in Papua Mining, an Aim-listed group with exploratory mining rights in Papua New Guinea. The company owns 14 licences across Ambunti and New Britain, some of which are only accessible by "dugout canoe", according to company documents.

    As well as being the founding shareholder, the Monaco-based businessman is the second largest investor in Papua Mining behind South Pacific Mining Holdings (SPMH), which has a 31pc stake.

    Company documents give no indication as to who or what is behind SPMH other than a trust company incorporated in St Kitts and Nevis.

    A spokesman for Papua said SPMH had no link to Mr Somerset-Leeke.

    The emergence of Mr Somerset-Leeke as a major shareholder of a publicly-listed company comes 19 years after the DTI concluded an investigation into suspect trading involving Mr Somerset-Leeke, a number of other investors and engineering group Suter.

    The investigation into concerns over potential concert party trading found nothing wrong but did recommend that rules governing concert parties be changed.

    Eight years prior to this, after a separate regulatory investigation, Mr Somerset-Leeke was censured by the Stock Exchange Council for improperly handling deals on behalf of clients. He was banned from trading for three months.

    Both actions took place while Mr Somerset-Leeke was the senior partner of stockbroker Coni Gilbert & Sankey. The company no longer exists. Mr Somerset-Leeke is not currently registered with the Financial Services Authority as an authorised person.

    Despite his large shareholding in Papua Mining Mr Somerset-Leeke is not a director of the mining group. Its chairman is Michael Gordon Jolliffe, a ship-broker by background. The chief executive is Hugh McCullough, a project geologist and former chief executive of Glencar Mining.

    The company has reported a number of the areas over which it has licences have already shown promise in gold and copper deposits. Papua raised £7m through floating 50pc of its shares on Aim last week. The shares floated at 44p. On Monday they closed at 60.1p.

    Mr Somerset-Leeke was not available to comment.
     
    Last edited: Jun 18, 2018

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