George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Lot of scare mongering going on today.
Why exactly would we end up with nothing if we vote no ?
Nothing is certain hear and a better offer could follow a no vote as it would still be peanuts compared to the potential gains for the buyer.
Is it a punt, of course it but only 2 things a certain since the first offer.
The BOD are happy to shaft the shareholders. First time offering nothing and the second a pittance. In both instances they came out laughing.
If they have to find a better deal for the shareholder so they can keep their jobs, they need to pull their fingers out of their A-holes and do it.
Zac has not lived to dream of Amc. For a few of us here we have looked at in on a daily basis to see the progress (or not) that’s being made.
From the days of the £1 per share party dream to where we are today.
The original deal gave the shareholders nothing except a promise to invest the initial payment of £25 million. The rest was not guaranteed.
This deal at least gives us the money and still have some shares.
I’m voting YES
Hufc1908
That' an ignorant assessment from Zak Mir. Nothing new there then.
TDT
Interestingly enough, sometimes the judgement of investors here, even in their own sector backyard is somewhat questionable. Earlier this year the management of Amur Minerals (AMC) presented a deal worth $105m. This was quite an achievement given that the company’s key asset is in Russia, and after the Ukraine invasion, looking a little vulnerable to say the least. This week resulted in a $35m deal, with the shares rising more sharply than
https://twitter.com/Share_Talk/status/1556243994090344448?s=20
https://www.share-talk.com/traders-cafe-with-zak-mir-the-week-in-small-caps-sunday-7th-august-2022/
This deal is worse than the last one - 1/3 of what was offered; a little more upfront, no royalty payments.
How about, 35m with 10 annual payments of 7m, that would be a slightly better offer.
The strongly worded RNS is designed to frighten us and appears to have worked.
So maybe it will be accepted this time, unfortunately.
The war can't last for ever, Russia will be skint and want a return to normal relations.
We have enough money to sit it out.
If Spiv get's this now he will flip it, probably to a Chinese outfit, for a cool 10x.
yes, this is still a 50% winner for me, not the 400% is should have been, but i have slept on it and and will take the 50% profit and their are plenty of small to mid cap opportunities to double the money every year, and i will be watching for those. I ignore the more proverbial comments on here, just simple rational decision has to be made, i feel sorry for those who will actually take a loss if the sale goes through, but i have also taken a bitter loss on POG this year..so i will take this small profit and embrace it and take inspiration form it and get many more like it in the future.
ask yourself this question....
will the SMO be concluded before winter sets in?, will Ukraine and Russia agree a cease fire? will Ukraine cede territory to Russia? will Russia back down?
could the war be in stalemate through winter?
could Ukraine and Russia rearm through winter?
could Russia declare war in Ukraine and call up reserves and go full invasion with Belarus helping?
is it likely the economic change in Russia west relations reverse in the next 2 years?
can Amur minerals find another buyer in the next 12 months?
could amur minerals declare force majeure and or run out of operating funds?
all very influential answers one should consider when making this very unwelcome choice.
As gutted as i am, bordering on heart broken, i am going to accept and make afresh start with the dividend and hope amur reinvest well and get a few pence for my holding down the road.
What makes you think it's different anywhere else? In Russia it might be more brazen but Glencore, Rio Tinto, Beny Steinmetz, Vale they're all at it.
You can't blame them for taking advantage of an opportunity when it presents itself who wouldn't? The fact of the matter is our options are limited. If there's nobody else in the frame, and at the moment it's doesn't look like there is, then it's a take it or leave deal. If we leave it we are likely to end up with the middle of a Polo mint.
TDT
TDT
Stay up but it’s interesting background on AMC’s suitor - this is a shakedown not a deal
https://www.ruscrime.com/politics/dealer-of-all-russia-what-is-happening-with-the-mining-assets-of-sviblov/amp/
Gwm, if its not in an Isa, my understanding is that the special dividend is taxed as income subject to your allowances etc. Ie on top of your employment earnings and or pensions etc.
The capital loss only occurs if you sell your shares at a loss. Also this cannot be offset against income though, only against other capital gains.
So you are pretty much right with your thinking.
Gwm, do you have your shares in an ISA?
PLEASE could one of you accountants categorically say if the special dividend can be treated as a capital gain/loss
Otherwise there will be a huge capital loss... AND A TAX CHARGE ON THE DIVIDEND received ! That doesn't seem right
Even when news article was stating an offer of 100m was put in directors wanted abit more, long term holders were still saying it was low, then war happened amc got screwed.
In current situation, amc lucky to get $35m.
Maestro- I wouldn’t say AMC s/holders are lucky, in fact the complete opposite is true. The latest RNS says a deal was on the table in Feb 22 - if the horrible war hadn’t started then I think we would have seen 7-10p per share, and could have possibly been negotiated upwards. But life isn’t fair, just ask Ukrainians, so we will take this offer and move on.
Katstrangler
I dont think they will allow it to fail this time around, total of 22% voted last time around and i feel proxies may buy shares under 1.8p and get it passed.
Sviblov recently completed cut price deal for kincross russian assets last month, the end is near with amc russian asset.
If the shareholders agree to deal then Putin will allow it to be sold. Sviblov recently completed deal with Kincross for their russian asset, 2 months ago they agreed $680m but last month they agreed cut price of $340m due to russian war. So 50% discount in a few months.
https://interfax.com/newsroom/top-stories/80224/
Amc holders should be lucky they getting something back.
they are v keen to be forced into longer term holding and the end of the war for a 'better' outcome. i might well get into this if monday sees a substantial dip in the price. maybe not even wait for the vote but for the bounce back to 1.2. don't trust the lthers though... they already nixxed a price 3x higher. i feel they'll spend their life forever wishing they'd taken the last offer. won't be surprised if russia turns the screws further. might be a better outcome but no idea who'd be willing to wait for it except those so deeply in the red they'd rather see zero than a fraction.
Hufc
"Putin could issue a special waiver in certain cases for the deals to go ahead, the decree said, and the government and the central bank should prepare a list of banks for the Kremlin's approval. The decree mentioned no investors by name."
Svidlov is getting the asset on the cheap, he is an oligarch so it will be done..
and to add to that....if this offer was made in any other jurisdiction...other than Russia.....our sp would be at 2.2p
I strongly expect it to be honoured so with the SP @ 1.28? to buy Monday.......wot a gift? Make your on mind up.....no guarantees in this life...just death of body!
Gla
The purchaser Vladislav Sviblov esq. (who has already bought me out of Trans Siberian Gold( LSE.TSG)
for very little premium....will be looked after by the Russian Regime....what he asks for he will get.....and I've no reason to doubt...his honesty/integrity.. and fulfilling promises to us!
This decree is about investors selling shares. It is not about a company, eg AMC, selling its resource.
https://www.reuters.com/markets/europe/russia-bans-western-investors-selling-stakes-banks-key-assets-including-sakhakin-2022-08-05/
Lowbands.....The next one eh?
I would add....that if I had my whole life over again.......I would.....never go near any share nor investment nor any gamble.....and instead would have bought physical PMS and property.....or even a hotel!
And would never have reluctantly put any asset in joint names......to have it stolen from me legally but not lawfully...and not morally.....but I'm here in shares now.....as my only salvation to fix all that....for retirement income......and have a very balanced portfolio with cash, shares, PMs, collectibles, two properties,boats and a new wife.....I chose my path.....good luck to us all!
I think what you say makes complete sense bankrupty and I probably will reluctantly vote yes.
Just wish that third option was on the table, after that first offer was recommended it was obvious that the shareholds were the last thing on this BODs minds.
Anyway it won’t be the first share I’ve lost on and probably won’t be the last.
https://twitter.com/Share_Talk/status/1555950642467946497?s=20
A decree, signed by President Vladimir Putin and published on Friday, immediately bans investors from countries which supported sanctions on Russia from selling their assets in production sharing agreements, banks, strategic entities, companies producing energy equipment, as well as in other projects, from oil and gas production to coal and nickel.
https://www.share-talk.com/share-talk-weekly-mining-sector-news-round-up-saturday-6th-august-2022/