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I cashed out on Friday morning at 303. If they get below 290 I'll buy back in again. Whether it comes as an offer price of £3, or and offer (share price plus dividend) of £3 there looks to be a bit of free money in it.
I also feel robbed, but cashed out at 2.99. Would I cash out at 2.92? I doubt it. I hope for the rest of my fellow holders that you get a decent offer. £3 right now is robbery. However, this is AIM....
Echo that, Batterseafish - that's about the best alternative I've come up with after this HGM hiatus is concluded. PUR's first 'gold pour' is scheduled for Q4 this year and being in a friendly jurisdiction removes the risk of this sort of 'steal' we're now seeing here...
Although it doesn't yet pay a divd, of course, its potential is considerable with impressive grades being regularly reported to augment their growing resource.
It's fully funded with strong Insto backing, too - another Kirkland in the making? Could well be... sasa.
Try Pure Gold based in Canada - more high grade finds and this could turn into another Kirkland
Hi Workingstiff,
I am holding on for the moment, but I am not sure for how much longer. Truth be told - I feel a bit like a rabbit caught in the headlights. I would love Prosperity to come riding to our rescue, as they have done with POG, but they have under 10% of our shares, and even if they call an EGM, I can't see how they can prevent Fortiana adding to their share holding and gaining the 50% they need to seize control of the company.
What with this and POG (my two biggest holdings) both facing hostile takeovers (as far as the small investors are concerned), where do you go next? HOC and CEY are certainly worth considering, but both are priced rather high at the moment, and I already hold a fair amount of each anyway. TSG looks worth a small punt, but I am certainly not investing large amounts into another Russian miner, especially such a small one.
I can imagine other posters reading this and thinking - what the hell are you moaning about? You have made a good profit, take the money and run. However, I do not wish to day trade. I like to invest for the long term in solid stable companies that offer good growth prospects and / or pay good dividends. Now thanks to the greed of Russian funds and oligarchs, I have to face a major reorganisation of my share portfolio, just when I felt happy with it.
Kenj
I sold up early yesterday to take advantage of a small market premium over the offer price. Which leaves me with a large chunk of cash looking for a home amongst the miners. looking around nothing really grabs me, I've a horrible feeling that I'll put it into POG.
If you are holding on here, good luck. There may be the chance of a counter (better) offer.
"I thought this share was proofed against the usual Russian shenanigans by those Oligarchs who were numbered amongst its major shareholders, but no, a way will always be found to shaft the little guy."
I think that you have hit the nail on the head there, Workingstiff.
Still at least we have both made good money out of our Russian miners. Nothing surprises me with POG, but I expected better from HGM.
I thought this share was proofed against the usual Russian shenanigans by those Oligarchs who were numbered amongst its major shareholders, but no, a way will always be found to shaft the little guy.
I've made plenty out of this over the years so I can't really complain. But of the shares I own, HGM was the one I least wanted to sell.
Time to deport Abramovich and the rest of them.
I have made a very good profit on this company but was hoping for so much more! The dividends were great and we were looking at £3.50 at least by the end of the year if the gold rally held. So undervalued and the true value of this company will never be known. Theft from the small share holders!