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in a way i'm glad this is finally coming to a head.been in here far too many years and for what,problem after problem and continual eroding of the sp despite now what should be a good time for us re pog.i wouldn't put another penny in here re buying at 87p and waiting for the formal offer of £1 as something could always go wrong and with this share that is more than likely.whatever the outcome i, like a lot of others on here will be losing a lot of money.
I read somewhere that 13% of shareholders have accepted to £1 offer. Dont know who they are and it didnt say. I have a few junior gold miners in my portfolio but none are responding to the increase in the pog. It appears the big money is flowing into ETFs so my thinking now is if youre going to buy shares in individual Co's it needs to be represented in one of those. The problem is many are US listed so then you have the poor exchange rate into dollars to consider.
I have long held the view that a Mr MNG buy out was on the cards ,even if some thought i was talking nonsense(Cavendish)
Although i am taking a heavy loss (been in since the days of Aureus) i will be glad to see the end game as this mine has gone from one disaster to another.Agree with you Tiger about Liberia, this country could find itself in another civil war soon but with the price of gold over 1500 and rising, Mr MNG offer of a £1 seems low.
I can see why people are posting that there is a solid gain to be made by buying Avesoro at about 87p now and waiting for a formal offer at 1 pound to be accepted and formalised. I've looked at it and thought about it.
But it's too risky for me. Avesoro are all but bust if the offer doesn't complete. What if MNG withdraws his bid? That's a lot of downside for only a small gain. Who trusts MNG anyway? And who believes that doing any kind of business in Burkino Faso (Islamic insurgency) or Liberia (total corruption) is likely to work out long term? And isn't there more money to be made right now on investing in a well-managed gold miner in a safe jurisdiction?
So, even though I'm a gold bull, I'll take a pass here.
If the person who has just sold at 79 is reading this BB, could you please, please just let me know your thought process and what you are thinking? Just beyond curious as to what people's thought processes are.
A £1 offer is on the table, Gold is up $30oz on the day and at 6 year highs, while this share is barely scraped above all time lows and is currently in line to be sold at a level half that of when the Youga mine was acquired.
More mammoth buying (3.11pm), another £870k gobbled up. So nearly 3% of the company changing hands today - share price unbudged, and little wonder these are being eaten up as the company is STILL 20% below the £1 offer price. Only on AIM.
was that 900k a buy or sell?