Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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AJ Bell have given some information. See below.
Q. Is £10000 the minimum trade?
As you already hold the shares in Metal Tiger that are due to move to the ASX, the £10, 000 minimum would not apply in this instance. If you were looking to purchase additional shares after they list on the ASX then that would require a minimum purchase of at least £10,000.
Q. What if I want to then sell out?
You can only trade on the ASX with us over the phone by calling 0345 54 32 600 (Option 1) and there would be a dealing charge of £29.95 per trade, with a tiered foreign exchange charge starting at 0.75%. With the Metal Tiger delisting you will receive a further corporate action when we have any additional information regarding the proposed changes.
Your Botswana
https://yourbotswana.us4.list-manage.com/track/click?u=98dd1be72ab3dcaf8ac3f74a9&id=ec681c3694&e=55297adb63
Anyone can see the massive gap between nav and share price. I was also initially led here by Simon Thompson identifying a similar gap two years ago. That gap never closed as along with the share price drop the nav has also gone down massively over the past year due to the incompetent trading activity by this board. You say DYOR - well for your own sake please look through RNSs over the past two years and read the last preliminary final report. I have never seen so many u turns in direction by a board. I just don’t trust the competence of this board anymore.
I spoke to IG today and they allow buying and selling of ASX CDIs. The discount to NAV (circa 50%) simply won’t last. This is a temporary issues due to the forced selling on AIM. People may have concerns about liquidity on the ASX but that will change quickly once the entire register is on the ASX. I read the Simon Thompson note and he is saying this is a resounding buy. I’m inclined to trust him (the UKs best small cap journalist) over some negative AIM punters on here. DYOR
Actually two things have changed over the past two weeks MrRiker. Firstly MetalTiger now wish to adopt a more active investing approach and you only need to look at its amateurish dealing history over the past year to know that this is a recipe for disaster. I am not looking for dividends but I want mtr to hold onto its price copper assets rather than for mtr’s management to use them to learn how to trade. Hearing Michael McNeilly state that he wants to be able to use derivatives fills me with dread.
Secondly its decision to delist without proper consultation and at the same time replace options to a level only just above the current nav removes any doubt that management are in this to enrich themselves at our expense. (I have always been uncomfortable with Michael McNeilly sitting on the board of companies he is investing our money in).
I will not sell at this price but I will vote against the resolutions put forward.
I would also support a resolution to liquidate the company, this could be put forward at the next AGM which should be due in May. My understanding is that the NSRs are valued conservatively and I reckon they could be sold quite easily to Sandfire or indeed any mining royalty company with a bit of cash.
I’m actually not sure the new approach has been cleared with major share holders. Yes perhaps Rick Rule will be on board - think him and Michael go way back but he only has a couple of percent. There is one hedge fund but no other institutional investors and then there is Michael Joseph, an individual investor with 9%. I cant believe he would be happy with the current state of affairs. Looking at his twitter account @benchpressmike he is also here for the NSR. And of course the directors have negligible share holdings. So there is all to play for and as Simon Thompson says, there is a great arbitrage opportunity here. Buy (or hold) for 9p, then liquidate for double in the next few months.
I also intend to keep my shares for now, however that was quite a list MM had, will the NSR be big enough to pay for it, including employing some new talent? Or are they planning on a collar financing arrangement or similar on the NSR, worked so well on the Sandfire holding, only other option I can see would be a placing.
A new resolution to liquidate XTR and hand back 19.8 pence per share NAV to shareholders. I think at this point in time would pass, but might not suit the board, stops the gravy train.
Im continuing to hold as think its easy to get swept up in sentiment here. Company is no longer on Aim.... don't see that as an issue as its not precious to me and easy to move from HL. Prospects remain the same and has always been a risk as a lot of the nsr potential is based on further exploration success which is never a guarantee. However if you believed in them 2 weeks ago they havent changed since. Company has never said they will distribute dividends from nsrs so at least they have now provided comunication on their approach. Yes there will be some non mining investment but with commodity cycles diversity is not a bad thing. On share options, it does grate but on the other hand want the BOD to be as focused as possible which they will only have by having skin in the game. Not criticising anyone for selling and by no means saying we are in a good place right now, but having held for so long im staying to see what comes of our Botswana exposure rather than selling at (what will hopefully) be a low (before cbr style re-rate).
What an underwhelming interview; 10 minutes full of fluff... an unconvinced looking MM, not even looking straight at the camera, he's suggesting going through all this sh*t storm to give the company more "flexibility"?? flexibility to do what? flexibility to continue investing in sh*tty penny stocks, to be able to take on more debt and issue more derivatives; all of which have historically led to liquidation by force and at massive losses.
The plan is very simple; change the name to Strata, move to the other end of the world in the hope that people forget Metal Tiger ever existed and keep the pay-checks coming in for management and directors for as long as it takes. Textbook definition of a junior company milking shareholder funds for its own benefit. This is exactly what people warn you about when u first get into the Junior mining investing business.
I'm inclined to agree Gold....Why would you want to stay invested in a company that will be nothing like the one you originally signed up for, deals in things you don't understand and is run by people you don't trust, not least because this change is being pushed through at such speed that there's nothing you can do about it.
And they've obviously persuaded enough of the major shareholders to go along with it. Perhaps some of them would like to explain to the rest of us what makes them think this is good for the company and us minnows.
I've emailed Charles Hall and I hope left him in no doubt as to how I feel about this change and the Board's conduct. i e disgusted!
I had made the Decision to keep my share holding but. After Listening to M.M on the proactive interview today l have now decided to sell at a considerable loss as the interview I considered to be a total disgrace and l now have zero confidence whatsoever in the leadership
Last week's Simon Thompson's Investors chronicles article had XTR as a buy, did everyone who followed his advice check their broker would allow them to hold ASX listed shares?
Some people could still be buying today, not knowing their shares could be sold on the last day of AIM trading, or become untradable with their current broker, brilliant work by all involved, deserves another big bonus.
If shares are in ISA then HL will transfer to trading account on delisting on AIM. From there you can transfer to another platform that can deal with ASX shares, such as ig or ii at your leisure.( no time limit). If you want to preserve your ISA wrapping then open an ISA account with a platform that can trade ASX listed shares such as ig or ii. Then follow procedures to transfer in specie from ISA to ISA. The two platinum will do the transfer for you. I have just opened an ISA account with ii and they have been good with regards to customer service and walk you through the whole process. No charges are involved in the transfers from either platforms. Also ii have an offer atm where recommends are rewarded. £200 for the recommender and free platform fee for year to recommended. If you want me to recommend you let me know.
Hi everyone, I’m a long term holder and have all my shares in Hargreaves Lansdown. Just seen the news. Hands up I’m a complete a mature, and offer no opinion at all. Could anybody please tell me what will happen to my shares if I do nothing? Is this advisable? Tbh I’ve no idea what to do! Thanks I’m advance
Being told by an “ear of the board” you can’t say this and you can’t say that as the NOMAD wouldn’t like it.
We’ll get the poxy NOMAD to help the people that pay its fees and do their job and advise on the brokers and what needs to be done.
This is fookin disgraceful and shows the utter contempt that the BOD have for the people who pay their wages.
Why you are posting here as in what to do !
Send you emails to the poxy BOD; they created this so get them to tell you.
Why there was not warning in the RNS about the difficulties we have to burden.
I mean, it’s out money that pays their poxy wages so they can earn them and tell each and every individual what they need to do with every variable broker account.
I hold my shares in an IG Isa. Will they just transfer to ASX shares? I have ASX shares in my ISA.
Thanks for the replies. I have done an electronic transfer to ii (very easy) over the internet and telephoned Smart Investor to tell them what I have done. There should be no problem, Smart Investor say, although they suggested if the transfer did not complete before about 25th March I ring them again to remind them that a transfer is in progress. I asked why they could not mark my shares now as transfer in progress and was told that the second call is just a "precaution". I suspect my request was new to the man with whom I spoke and that they will get their act together better over the next few days as they receive more transfer requests.
I am also out, pretty much for Sparkyedwards reasons, holding since the PJ days, six fig loss and can't believe my own stupidity with this company!
I wish all that remain the best of luck and hope the BOD don't completely screw up what looked to be a promising NSR future.
That's me out guys, must be a strong buy now as likely to rocket ?? now I have sold.
After holding for several years I have just lost faith in the bod. I have spent the last few days thinking it over and the asx move is the straw that broke the camels back I no longer feel the bod have what it takes so have voted with my feet.
Why I sold... 1 - I can't hold asx shares in my hl isa, I don't want to have funds moved outside the tax wrapper given the looming capital gains tax changes a chunk of any elusive profit would go to Mr C**t . 2- selling if the kml stake at a loss just a week before great results... 3 the £6m loss on the collar facility shows the bod is out of it's depth and their strategy change would suggest more of this activity. 4 - the want to shift the investment strategy to focus on more unlisted investments, on reflection this really worried me given the bods poor performance to date. 5 my gut / their track record suggests a rights issue again once on the asx to create liquidity / market interest / free up cash to fund the new strategy... You can just see it. 6 - yes there is a big discount to nav, this is for good reason given the rubbish performance to date and it is not unusual for funds of this type to trade at a discount to nav.
The only reason I could think of to keep was those nsrs... 6 against 1 so I sold.
All the best to those staying the course, holding out for those nsrs will hopefully come good.
From what I can work out (given the rules to give notice) we won’t have time to add a resolution to the meeting or call another meeting beforehand so I think the best we can do is hope everyone else will vote against the resolutions put forward. That should give an indication as to what support we have. The next AGM should be in May so that would be the time to put forward any alternative resolutions. In the meantime perhaps we should try and raise awareness amongst other investors - although you would think that anybody that has followed this share would agree…
Agree - we still have to approve it though and I for one will vote against
I’m out. Apart from everything else going on, how a company specialising in metals is collapsing in value amid a major European war is beyond me.
Getting Shafted ….. Roll On The AGM …
Absolute Disgrace ….
Bury It All With A Name Change …
Interactive investor quoted up to 6 weeks, where investments are transferred across. Not sure how that would work with a delisting in 3 weeks, so took the certificate option from XO.
Hope to deposit the certificate with II when it arrives, already have an account, but the shares will end up coming out of an ISA and going into a trading account.
Was any of this thought about by the MTR directors? or are they more interested in converting their 60p options into 20p option.