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Wouldn't surprise me if they've won. The first bid was low ball and a number of funds jumped in knowing full well they could swing the vote. They've made their 10% quick flip and are probably now on side to allow the vote to succeed. What you you take, a guaranteed 10% (or whatever it was) or risk of bid failing, SP dropping and hoping another offer comes through (which so far it hasn't). Any suitor will need government approvals so i cant see any white knight saving the day here sadly.
Today’s statement is as close to the wind as they can go, saying enough, being factually correct without being too positive but seen to be reasonable.
it’s a reasonable update determined by the board and legally spot on no doubt with regulator and their broker. as someone else said, all about the vote which they will know the result of
Where's the missing 60koz Eric? Stockpile at Singuida no longer included this year? NLGM's lost reserves?
Wh
Yep maybe they have lost. Let's hope so.
So after all that drilling since last year we have nothing to add in WK and somehow managed to mine 103koz from the NLGM and 62koz from Singuida. I mean WTF are these $h1ts playing at.
Yes, we all spotted that, that s why we bought in, many of us years ago. That is what makes the takeover so maddening - we stuck with it knowing that the good times were coming when all the hard work would pay off - and the rewards are being stolen from us.
Kakamega Camp NI 43-101 resource of 1,285 Koz grading 10.60 g/t Au.
Yes I saw that and am also outraged by it bearing in mind the current situation. What sort of company would release a Reserves and Resources Statement in a period when shareholders have already voted on the Scheme and there is nothing they can do about it. Do they know that they've lost?
About Shanta Gold:
"With a strong balance sheet, a growing diversified portfolio and dividends paid since 2021, Shanta offers a resilient investment opportunity for the near and long-term."
This is a direct copy and paste from today's RNS.
Yet ANOTHER ALL TIME HIGH for Gold at $2279
Management goons are trying to steal Shanta for a song...
I was a shareholder here and was waiting for the right time to get back in. Even before gold's recent rise any takeover should have been 20p plus. Loyal shareholders have been robbed.
Https://www.thisismoney.co.uk/money/mailplus/article-13254937/MIDAS-SHARE-TIPS-Shanta-Gold-mines-rich-seam-exit.html
Don't sell a bean to these management goons trying to steal our company for a song...
MIDAS SHARE TIPS: Shanta Gold mines a rich seam to exit
1755 you ask ...."What does it mean?" suspect the correct answer being along the line "PI and LTH's screwed".
i.e. we've supported and funded its development in its formative years only to have it taken off us when we should be rewarded for our part in making this a great company
Thanks Hounddog10.
There are essentially two stages to the takeover. Firstly, shareholders have to vote in favour. Outcome known on Thursday. At the same time regulatory approvals by country authorities are needed along with certain other preconditions being fulfilled for the bid to go through. This is running alongside the voting procedure and there will be a court hearing after the court meeting (this Thursday) to assess if all the preconditions are met. If the vote goes against Shanta the bid falls away. If the vote approves the bid things move onto the second stage which is satisfying all the preconditions to put before the court hearing in order to finalise the court process and so the bid.
The news is simply that they now have Kenyan approval but are still waiting on Tanzanian regulatory approval. I would have thought that is simply a matter of time.
It is all on the vote.
If It is true, why there was trades below 14.85 in today market sesion?
It makes no sense.
Shanta Gold Ltd - East Africa-focused gold producer - Says that the Competition Authority of Kenya has approved its acquisition by Saturn Resources Ltd. Completion of the buy remains subject to the receipt of regulatory approvals from the Tanzanian Fair Competition Commission, the Tanzanian Mining Commission and the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs in Kenya, and the court sanctioning the scheme at a hearing. Shanta Gold expects it to become effective in the first half of this year.
----------------------------------------------------
Just Read on the the "Shanta news".
What does It mean?
Wait until the takeover falls out of bed, that's when this will go. If the takeover goes through, you get your money back.
As close to risk free as buying T bills.
Whilst we wait for the result just wanted to thank some of the posters here. I bought Serabi, Thor and Kefi after reading all about the daylight robbery that is occurring at Shanta. Serabi have held for a few weeks and already 9% up, the other two only in last few days and they are already in positive territory. Great tips and obviously some early money coming into junior miners.
Completely underhanded release.
Even the way these management goons worded it was to deceive shareholders to believe a peripheral Tanzania competition approval was somehow endorsement/approval of their derisory takeover heist. ??????
They’re sooo desperate to steal our shares it’s obvious. No wonder given the gold price continues to rocket & Shanta is probably spewing out gobs & gobs of cash here!!
From the returns I have seen, there is no chance of the deal going through despite the sabre rattling. Thursday will be very interesting.
You’re assuming several funds bought in with an all or nothing view of the bid. I’d suggest if they are acting independently of , which they should be, then their motive is to maximise their financial gain regardless of the outcome of the proposed takeover. The risks having been weighed, in an environment where all gold producers are rising in response to improving margins and coupled with Shanta’s operational and financial outlook, there’s little reason for those funds to dispose of stock below the opportunistic 15p offer, much less so in the 11-12p range. The only persons selling as evident by posts appearing here and on iii are those fearful of the opportunity cost of holding, the risk of missing out on potential gains elsewhere in the event the bid is acceptable. If gold futures continue to push higher and through $2,300 this week it only strengthens the case for funds to buy more gold miner stock, including Shanta once the bid has been rejected
But , personally i think the TO will happen ... hopefully in 2 days its over
No its not because several funds bought because the offer ... they will sell the shares in the event the takeover is not happening...