George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Sounds like they couldn't afford it even if they wanted too ?
Didn't they pull their original offer anyways ?
Well said 547. I am not underestimating the potential of SF and Co. elected (not at all independent) board to destroy value for minorities, till proven otherwise. Not a single share purchase by any of the new board members either. 3 months of negotiations and nothing to show for it yet, while rejecting and killing the previous proposal which didnt seem that bad.
To judge the merits of a merger take a look at the debt Seafox has, secured against barges that in no way offset that debt due to their age and simplicity that prevents them from working in many locations. A merger would be a disaster for GMS SHs IMHO....
Fergusinv
Also comforted at the 10p par value.
The shareholders that voted down the original proposal and then got behind the second, I am sure will not agree to any kind of coup, perhaps they agreed to support on the basis of intentions, if those intentions changed I am sure they wouldn't be ready to support an unfavourable outcome.
Yes indeed Camkite. It is for the reasons you express that I find a degree of comfort here now. SF successfully delivered what amounted to a commercial coup. I am confident they will renegotiate a loan package with their funders. What happens longer term remains to be seen. But I am a little more optimistic of seeing a turnaround. I wonder if a merger would be beneficial for both companies.
If their motive is untoward (and I agree it could be) why rack up more interest & spend 3 months trying to negotiate... if they want it... let it default & pick it up on the cheap? Make a bid for 10p after owning enough of a % to get it through buying more shares at 6p ?
If they bought 50% of the company (much of which sub 10p ie: now 6/7p) they would end up with an average price of say 8/9p and only have to fork out for the shares they don't own and cover the debt.
If they let it default then they lose control as the banks will control the assets, said banks could find a bigger buyer so there is risk in there on that stance / motivation.
Publicly announce you are trying to act in the best interests of all shareholders ..! So far I don't think there is any reason to believe they are acting otherwise. Nothing points to that (as it stands) and you can justifiably think that the reason they made the original offer was not because they wanted it but to protect their interests.
They could have had it by now or at least got the ball rolling.
If motive was to................................ Why spend 3 months negotiating ?
Valid concern about SF's motive....
I have always been very sceptical about SF’s motives here. Rather than drive GMS into administration as some have suggested, I wonder if a merger between SF and GMS might be on the cards. Any resultant admin savings and operational efficiencies could possibly assist to broker better future loan arrangements.
StockFiz,
The debt has not been restructured yet. There was a extension on the 1st Feb for this to be considered.
Not sure £10k in value constitutes a big buy or sell. Most of us long term holder on here have multiples of that.....
Oil prices going up, they restructured the debt again on the 1st Feb...
StockFiz,
The big big buys is therefore one buy. Why is it time to buy now. Do you you have some information that the finance issue has been resolved?
Looks like u wanna sell at 6. How many shares u got to offload?
18-Feb-21 15:11:13 6.4999 152,992 Buy* 5.94 6.90 9,944
The only large trades that went through today
all went through @6. look like sells to me!
StockFiz.
Where is the evidence of the big big buys?
Look at the trades today, Some big big buys happening...Don't say you weren't told...
Reddit would help!
And u know this how? Are we on reddit?
Its the time to buy now
Big movement coming everyone buy now
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
Plenty of movement happened, just not in this stock :)
This would be a travesty if this company was left to be picked clean by others. With POO at these levels this is worth so much more with there fleet of ships .