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Cannot recall him saying but he did say within 6 months he expected it to all be done and dusted. There was 3 off us one was a lse member do you remember
slim, sorry one further question - Did Onion say when the results of the first stage of the process will be announced, before interested parties go into the second stage?
slim, yes if he was in the UK he should have attended in person. He probably knew you were turning up so bottled it. Did you buy more today?
Quite.
I bought today.
GLA
Disappointed onion didn’t make the effort to turn up with only being at home
What's the view out there about the announcement of a new non Exec? To me the fact that he is a banker rather than a miner speaks volumes....
June should all be done and dusted
Onion watches these boards hourly
He knows it’s me as I’ve had an awkward time with him before at a meeting. Poor old Kate was sitting there looking nervous as the meeting was switched to q and a by the 3 of us
slim, did Onion ask, 'right which one of you three has been calling me Onion Head on the bb?!' Also any hint that a bid of $100m has already been made?
Slim, any mention of this yesterday?
You have to remember that not all shareholders were eligible to participate.
Read my earlier posts on insiders buying. The directors would not take part to avoid the risks of being accused of insider trading. Knowledge of NDIs alone would be enough to form the basis of an accusation. I would have been stunned if any of the directors had taken part.
Hopefully the remainder of the land we need can be paid for now
I have a feeling there has been a falling out between JM/MC - listening again to the last Crux interview there was very little to suggest a sale of the company was number one on the list, within weeks it happened, also if anyone remembers another Crux interview was cancelled without any explanation, they seemed surprised. This suggests the decision to sell was a snap one.
Reading between the lines my view is Mellon had enough of Childs seeming never ending lust for cash (the last placing £3.25m) was back in mid June, the sanctions issue may also have had a bearing, he wants payback. I note a number of other big hitting businessmen have been hit badly by the fall in equity valuations and are selling down stakes/assets Miles Pelham at WBI for example.
If as the attendee of the GM suggests Mellon is prepared to accept as little as $100m, then it makes a sale most likely and the shares seem bargain basement, would give an exit price of circa 40p-46p a share dependant on options/warrant exercises.
I personally believe a buyer will drive a hard bargain but Mellon clearly wants out and that is a major plus point for buyers around current levels.
I would take 100-200 tomorrow from the horses mouth
i would have expected it to be with the announcement today but it a fair point it could be released on friday instead, let's see if he buys
Punter, the "cucumbering " has already happened , just a matter of how much it is now retracted. Remember any deal would give ££s per share ! Wasnt long ago that anyone disputing a £1- 2 valuation was a terrible de ramper.Amazing how a possible 50 p exit is now portrayed as great. Not convinced theres a 50 p exit here personally either!
Slim, chinese is the most likely scenario for me. However, shg had 2 chinese offers and no deal.
Rns always open with "delighted to announce " no matter how great the news.
So basically open offer raised nearly £2 m less than the stated ceiling. Have any non taken up been offered elsewhere as we were informed would happen ? If so can see why it wasnt underwritten.
Looking to add some now to off on any news rns. Not interested in holding in a shell and paying continued wages .
Keep up the feedback slim.
You don’t know that MC has not bought in the open offer. You will have to wait for the open offer shares to be issued on 23/12 to find that out. Jim Mellon has converted his shares and had them issued which is why he has reported an increased holding. Your deramping is pathetic.
JAllis, out of interest, how do you know MC didn't take any new shares in the placing?
net effect is the same, unless you can demonstrate where exactly the rules disallow insider from partaking in an open offer whilst a sale process is ongoing there's nothing to suggest MC would not be able to buy in like any other shareholder.
Mellon did not buy he loaned the company £1m and converted the loan into stock, completely different to buying in the Open Offer and allowed under the rules.
no as its already been announced there would be a raise. if it was considered insider Mellon wouldn't be able to buy either
If a deal is close would it not be insider trading?..