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I checked this morning and found that I could but at 14.28p. This is a 4% discount to the offer price. If the offer goes through and it takes 3 months to get paid out, the shares are offering a 17% annualised return. I therefore suspect that the deal is far from certain.
I also own PAF which from 20th December 2033 has gone up by over 37% on no news apart from the gold price. This is way better than the Shanta performance over the offer period. Just goes to show that 14.85p is daylight robbery.
Sold up this morning (only 39,100 shares each for myself and my brother) for a small £500 odd profit (as the difference in profit, of a few hundred quid, is negligible between today and the 15p T/O price, as yes I do think the crooked barstewards are going to 'squeak' this through! 😏).
Needed the funds to take part in a share offer (with a deadline of today at 11.00am otherwise I would have waited!) so as to reduce my average in that company from £2.55 to 96p (as currently underwater over there by £72.5K!) in the hopes of breaking even!
Whether it's the right thing to do only time will tell, but I believe the risk/reward is better (but then with my track record in investing WTFDIK!!!!????)
Wishing you all the best, hopefully I'm wrong and the T/O attempt will fail (but what then!?)
Hope you all get to see fair value (especially the LTHs!).
Good luck!
MB
Everything written on the pre text of success, you’d expect that. i understand votes from the first one count? so they’ve either achieved more votes with the extra and they know or they’ll have to go again. i doubt many private, retail investors have accepted why would they with gold increasing. one way or another they want this over the line as gov approvals come through
Also when you factor in fridays and sunday nights gold rally. The fact this has decreased in price gives me hope we could win this, although i could be severely disappointed come thursday!
The fact its a touch down even after positive news towards stealing rhe company surely means sentiment is its very close and possibly may not pass.
"A shareholder meeting to vote on the offer is scheduled for 4 April."
WILL IT BE RIGGED?
No they do not. God alone knows what deal they have made to feather their own nests? There has to be more to it than their disgusting sell out?
"Shanta is pleased to announce" - pleased! They don't care about us.
Yes.. but they solt the bralilian Asset for 60 million USD and cashflow is coming in now for the second mine ... the debt will go very fast and the marketcap is extremely low ... yes, higher risk but a chance for big profits...
I'd generally wouldn't believe the prognostications of most hacks. Since most papers have culled the majority of journalists they tend not go out and do their own research but are willing recipients of information provided to them which they gratefully recycle. This allows corporates and their publicist sidekicks to send in press releases which are then released almost word for word as "news".
Remember the original burst of articles when the original offers was made in December?
Troubled miner Shanta receives takeover offer from white knight etc etc.
Well that proved really accurate didn't it!
Good luck with that. As soon as I see that much debt to equity ratio I run a mile. Still, I wouldn't be surprised if you couldn't multi-bag given how far it's fallen. Too much risk for me.
Anyway, my point was about some Mail hack stating that momentum was gathering because ETC has increased their $h1tty offer by 10%. With gold miners typically leveraged at x3 to x5 POG we should see a better uplift than 10%. So momentum should be gathering for the takeover to fail. I for one will be interested to see which funds end up getting a stake in SHG if it succeeds.
I will take the money and invest in Cerrado Gold ..marketcap 20 million$ ... 70000 oz production this year at 1200$ AISC ..debt down via the sale oa project .. and they own a worldclass project in pre-production/financing phase ... there are enough other ceap producers out there
You're quite right, nobody knows the POG in the future. However, that's no reason to accept a lowball offer that is patently undervaluing SHG given the current POG and our projected AISC for 2024.
Long term it comes down to whether you believe Mr Patel is correct and POG has peaked or it is going to increase. If I'd believed the former I wouldn't have been investing in gold miners in the first place. About this time last year Eric Zurrin stated he thought POG was going over $8000 per oz. Hmmm, guess he's changed mind then.
Sorry , you don't know the POG in 1 , 2 or 3 years .. and the costs will go up too ... this calcultion is based on unknown variables ...
I don't see why some hack from the Mail would have any more info than the rest of us. "Momentum building" for a successful vote just because ETC have increased their Cr@ppy offer by 10%? Gold has increased by over 10% since December which, if sustained, should equate to something like a 30% increase in profits for SHG, or in SP terms an offer of about 18p. If this does go through the funds that support the take out need to be investigated.
Article in yesterday's Midas in The Mail on Sunday March 31st on page 54 entitled "Shanta mines a rich seam to exit" states in the final paragraph :
"Having offered 13.5p for Shanta in December, ETC improved its bid over a week ago. The voting deadline is tomorrow and momentum is gathering in ETC's favour."
It’s not the price of gold that’s truly going up and the devaluation of the currency you hold and they will
clearly continue
Lol
"he recorded 824 combat missions." - and I believe that he holds the record.
By the way, that piece on the gold price was posted by Bob Moriarty on his site - http://www.321gold.com/, and today, 31st March is the 40th anniversary of the day in which he made history with his daring stunt of flying under the Eiffel Tower (watch it here, https://www.youtube.com/watch?v=_txdqnVP3-c).
He is quite a character - from Wikipedia -
"Robert J. Moriarty (born September 9, 1946) is an American Marine F-4B fighter pilot who holds the record as the youngest naval aviator (at age 20) in the Vietnam war, achieving the rank of captain in the Marines at age 22. Before leaving military service in 1970, he recorded 824 combat missions.
He holds 14 international aviation records including the record for flight time between New York to Paris in two different categories. In 1984, at age 37, he was in the headlines for flying, on March 31 at 11:20, between the pillars of the Eiffel Tower (in Paris) aboard a Beechcraft Bonanza aircraft."
The Wikipedia page about him is a disgrace. It is correct with its account of his famous flight under the Eiffel Tower, but under "Publications" it fails to mention that many years ago he started 321 Gold, which is stil going today. Wikipedia censorship.
Just before I get to gold, may I bore you with more on "pence"?
After decimalisation, people (many, but not all) stopped saying "penny" and "pence", and said "pee" - i.e. 50p - "fifty pee" for "fifty pence", which used to be ten shillings, or ten bob, in proper money.
Other units of currency - a score, a pony and a monkey - but that's another story.
It's Sunday, so nothing serious but it might cheer you a bit - "PROOF THAT GOLD SHOULD GET TO $10 000!! and
SILVER TO $500!! (by 2028?)"
http://www.321gold.com/editorials/lodewijks/lodewijks033124.pdf
Unless you are in need of a bit of fantasy entertainment, I wouldn't recommend wasting your time on it. I've seen it all before - "Gold Going to Parabolic Top of $10,000 by 2012 – For Good Reasons by Arnold Bock, June 2010." and many more like that.
For those who don't know - gold didn't go to $10,000 by 2012.
However, I am coming round to having confidence in the forecasts of $2,400, $2,500 and even $2,600 in April, 2024 - the month that begins tomorrow.
Hang in there Mattyboy.This could be our year.Multi bagger on the way
I was trying to cheer up Crystal after my earlier negative post.
"98.10% loss!!!!"
Typical aim.
You are not alone.
But you can't lose more than 100%
But can increase 1000% or more.