Just through recent Financials and MD&A and found most typical except one fact. No mention of POSCO or the MOU proposal. Key objectives for the remainder of 2013 are: • Facilitate the satisfaction of conditions required for the completion of IMIC’s proposed acquisition of the Company; • Publish a resource upgrade for the Nkout Project for DSO and high grade SAP; • Complete the infill drill programme to move the majority of the Nkout resource from inferred to indicated; • Commence the PFS and ESIA for the Nkout Project; and • Progress a Framework Agreement for Nkout with the Government of Cameroon
Why I decided to sell AFF - 1. I had a small slice of AFF shares but due to a lower average quite a good gain-I decided to get into cash due to having a less conditional other share to go into instead in which hopefully I will make more money.By less conditional I mean not reliant on votes or what happens in two years. 2. even if the AFF board support this-I didn't know that as my media player was down,note you get 80p yes-I sold at about 78.5p little different but also "IMIC decide whether your loan notes are paid or become IMIC shares" I don't want IMIC shares and I think you'll get those.Who knows what things will be like in two years ,its a facr down card play. 3. about buying back at say 75p to get another gain-that depends on getting a 75% vote and I feel the vote might go down given POSCO and broker talk about much higher value. -Anyway I make my own mistakes as always.You decide your actions too.
see yesterday's RNS for '...are pleased to announce that they have agreed terms in-principle, for the proposed acquisition of Afferro by IMIC, which Afferro's Board intends to recommend to its shareholders, '
just topped up with around £2300 at 76.05p. All the trades listed as sells around this price are buys.
" Yes I know I've lost potentially quite a bit by selling but my average was lower so I got quite a fair profit,meanwhile can use the money elsewhere in a good market " mogo Seems a good move to sell, as the SP backs down from even the cash offer portion of the deal. Obviously, the market does not believe the deal will go through, at 80p cash and 2 yr hold on 40p converts. With SP 76.50p it also doesn't see another potential bidder for the low valuation bid for AFF assets. You may be given an excellent arbitrage opportunity over the next few days to make more on the cash spread as the SP weakens back towards 70. Cheers, Mark
as an ex holder now,perhaps I can say I still think the main AFF holders and the board from their semi hostile wording in many RNS and with encouragement from the brokers will want to reject this latest IMIC offer.IMIC had to raise the stakes as they knew it wasn't good enough.There will be heavy dilution of IMIC too.I can't see AFF recommending this,and in this weak mining market with majors worried about finance,only the Chinese can eventually bring this forth.The Big Tent Plan WILL happen but after many years and at their right price so no time limits it might take many years they are in no hurry till that.They'll go to the cheaper options first maybe elsewhere ? Yes I know I've lost potentially quite a bit by selling but my average was lower so I got quite a fair profit,meanwhile can use the money elsewhere in a good market before it collapses as it will not long ahead.The danger then is AFF might be dragged down for a time by that..GL.
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