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I made a ten bagger no less from Mellon's Polo Resources back in the day (hence my username).
The shareholders that time were nicely rewarded with a big jump in share price and dividend when the copmany was sold.
Make of that what you will but in my experience it's not this board's strategy to deliberately screw over shareholders.
I admire your optimism, however I fear today will stay red!
Thanks EL, easier said than done at times for me anyway!
The day is not yet over and remember yesterday when a late reported Buy at the close was for over 200000 shares and at the highest price paid all day. It will be interesting to see if that is repeated today.
I would suggest trying not to tie your emotions so tightly to the SP in the first place. Easier to say than do I'm well aware, but it helps to try to keep an even keel regardless of what's going on.
https://www.poetryfoundation.org/poems/46473/if---
Wow what an anti climax after all the early excitement this morning, just another day in the trenches with CNR!
Yep me!
Strictly speaking you're confusing non dom with non resident.
I've bored Britain on this subject for many years. High level - you can "live" somewhere like Monaco and pay absolutely no taxes apart from an initial "joining fee" (pocketed by the Monacan royals). After that you don't have to live there. You can quite happily flit around the world with a tourist visa and for the UK you'll be able to stay up to 181 days a year and not be caught by any tax. The US is similar but more complicated.
I haven't done this recently but if you go down the UK rich list my guess is you'll find no one actually resident in the UK for normal tax purposes. Also don't be fooled by Swiss tax residency. For some reason Swiss federal law allows rich individuals to negotiate a personal tax deal that is kept secret so you can guess what sort of rate is paid!
What has this got to do with my original complaint? Well it's pretty clear people who do this a parasites. In reality they live in normal taxed countries, enjoy all the benefits both personal and business and pay nothing towards the basic social and business fabric and we ordinary folk have to and yet these parasites disproportionally benefit from our tax dollars.
In summary it's clear they don't give a toss about us in the wider economic and social context do you really think they are on our side in respect of the company sale?
Vote against all motions and let them know we are not pushovers!
Did someone say BOOM earlier?
Since the strategic review there has been £7 m raised and almost burnt and more options , etc added. I don’t discount another quick raise yet possibly most likely the last of mellons cheapest warrants.
Something that hit me in the recent pump piece. Mc has joined the other non dom directors in tax haven. I find it unlikely that mc holding will be in profit and he has had years to fill his isa pension etc. do we assume the undeclared nature of his bonus will put him in need of non don status?? The piece also failed to address the fact that until notified, it is an asset sale. I imagine all relevant options and warrants when cashed will could well be a nice trough for the bbod to award themselves for their sterling work in shareholder appreciation.
The problem in this country isn’t paltry support for peeps incapacitated it is the tax dodging non dom culture that runs the country and keeps its wealth offshore.
We know the shares are tightly held so it doesn’t take much to move it. We are now at a price many who took it up at 15p are looking at a 100%+ profit and they are happy to take that to avoid any risk.
It’s news we are waiting for, whilst the SP rises are nice, we should expect some selling along the way
I think you're being too kind. The process has been going for the best part of 18 months. They could take us through their original thinking leading up to the putting up for sale sign, how the numbers of interested parties have grown and fallen. Why people have dropped out why new people have appeared, why the process has taken so long, has the effect of sanctions diminished over time, have the management up their expectations of the selling price with the rise in gold price or have they kept it the same and instead tried to wrap the sale process up etc etc etc.
None of the above breaches confidentiality but would at least gives me confidence they are serious about selling. Saying the are is on thing actually selling the company is another.
Sure the gold price has gone up since the start but that doesn't make us masters of the universe. Just lucky.
Our luck could also run out...
In fairness they cannot communicate any update given the commercial sensitivity. We might only need to wait a few more weeks and we could all be put out of curiousity who is the buyer and how much. Yes the sales process had been too slow but so too has the pog rocketed and made a difference to both the sales price and the number of possible interested parties. There has been a lot happening since they raised the flag and mostly in our benefit. If they took first offer 15 monthd ago i am sure we would be furious and maybe just maybe the price now will be accepted and if many bought on placings are in a good place.
It's been well over a year since I sat in a poky room with Slimshady talking to our esteemed CEO via a screen who was decidedly distant (in all senses of the meaning) even though I was on my best behaviour and what has happened since?
Well not much, our great leader has got even techier but is still paid his full time salary, we're in a period of profound non communication which the optimists read as nearing a deal but history suggests the opposite could be equally true.
I for one will be voting down all the resolutions come the AGM purely out of the desire to remind the big boys that we small people still exist and yes we'd like a bit more firm information after 18 months of *ugger all.
For me the excuse of commercial confidentiality is an excuse no more. I urge everyone else to do the same . Yes I know that it won't make much difference but they'll have the embarrassment of reading out percentages of resolution approvals of less than 99.9% which might, just might, stir them into communicating some worthwhile information this time.
Damn it!
On the II platform on the dealing screen they show the Morningstar Fair Value for each share. The Fair Value quoted for CNR is 80.68p. We are currently trading at a 56% discount to their Fair Value.
A couple of sells and the buggers have ticked us down!
Normal ramp
Has any offer appeared???? or is it normal ramp?
Boooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooom!!
36 paid… 🚀🚀🧨🧨
Charts look clear up to 38p and then hopefully push on into the 40s… the brakes are off our Golden Bird! Let’s see how fly she can fly!
Tick tick tick… BOOOOM!
Class395
Certainly good to see TSX volumes grow as that could indicate more Canadians thinking that something is about to happen or could just be an arbitrage opportunity as the gap between UK and Canadian price is a little wider than it should be. Onwards and upwards.
I got £0.35p on a dummy sell CF, come on CNR!
I've given up trying to predict the timing of the RNS.