George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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If management had not excepted the offer, Would AAL have the right to go to Sirius shareholders blocking the BOD out of any future negotiations ???.
yet, it is possible and most likely scenario, but I wouldn't take off the table other low probability options (even bad ones)
and despite reducing position as opportunist still holding millions shares.
Hey FFC, I have enough left for a vote. :-)
Hobo - again, if this was a world class asset and it’s worth 10p or 20p a share then we would have firm offers on the table at 6p or above. That would be a no brainier.
If it’s a firm offer it has to be released. Plus it is easy for a company to ‘indicate ‘ interest to the market.
There may be another offer coming but it’s being left very late and I am not seeing any indication of a bidding war ensuing. Maybe it would be 5.7p or a bit more, who knows.
If the offer had been 7p the conversations on this board would have been the same. So somewhere there is a huge disconnect between what some holders think Sxx is worth and what the Market thinks it’s worth.
The point is, where is the 15p bid for this ‘world class asset, 100 year mine, £10bn+ Asset’ etc.
Unfortunately for PIs this is a 5.5p share company or maybe marginally higher. Or (if the vote is no) it could be less than 5.5p.
Disappointing situation for most PIs, but I am just trying to give a reality check.
Tex.
I don't, because I don't have factual information apart from what BoD feeds us,
you're acting like you know more than us
because if we play what-is scenario there could be many other options, first random 3:
1) biased BoD twisting things (aka exec. call, without putting on shareholders vote),
2) gradual financing plan (not in one tranche, let's say 150M on first month, then 100 on second, etc.) - jut to keep it afloat.
3) predatory offer of high risk scenario, aka: give a TO promise and pull the off plug at last moment cancelling TO (company immediately goes under), 50M deposit lost, "third party" gets 200M on shorts..
etc.. so many viable.. wild imagination and guessing.
that's where full transparency can help things.
Hi Lairy, good timing and question for IBAB ....lucky ?
Why no other offers?.....well, this deal was meant to be the only deal with contrived exclusion of others....no conspiracy but possible sharp practice in achieving this.
So others will be late at the party but may still show up..whos to know?
If this deal does not come off....Government are in the spotlight. This project is NOT failing.
RNS clearly says sxx BoD has quietly rejected another financing offer because it didn't fit criteria (finances would come too late in their opinion, whatever this means)
So there is AAL bidding competitor activity on a backstage (single party, multiple independently or several trying to consolidate into one offer, etc., perhaps they're even in contact with AAL behind closed curtains to check how far they're ready to go in order to avoid bidding war on open space via least blood approach), the only question is if it's sufficient enough (ot even if it will make it's way into public space)
https://londonminingnetwork.org/2019/05/death-destruction-and-dividends-the-2019-anglo-american-agm/
Hobo
We don't
Just out of interest, how do you know there have been no other offers.
The company did not release details of the one recieved in December st the time, so why are you so sure they would release details of any subsequent ones which may or may not have been recieved ?
Tex
Yes the reality is probably as you say ??
I for one don't believe if there were to be another interested "party" It would not send the sp sky high < that just isn't how it works ( i have held shares of a co that ended up private)
That said do you believe that a "miracle funding plan " is absolutely out of the question given that there is (imo) a slim chance that they wont get the 75% needed to vote this takeover through ???
Do you still hold a few here ?
ffc
Fred, FFC,
I agree it all feels a bit wrong and forced. However, there is an elephant in the room here. The reason it feels this way is because there are no other offers! This is the best anyone can come up with and if you don’t like it then the threat of going bust is the alternative (so we are led to believe).
If this thing is as good as people say then why aren’t there another 3.4.5 bidding parties trying to get their hands on this cheap as chips asset?
For me, this is the reality check of the situation. 5.5p was the best they could come up with after the funding plan fell on its face. Everyone naturally feels shafted, it there are no other offers and this is what it’s worth. Simple as that.
Clearly the dream has been oversold to many. I don’t think there is a big conspiracy at play here. Again, if it was that good an asset we would have lots of other offers Tex.
Hi Liary - the truth from me is I don’t know! I’m waiting to see if by some miracle something happens before we vote! I know I don’t want to risk my remaining money - I don’t understand how it can have come to AAL buying my shares for 5.5p and there are too many things that to me don't add up. It does feel like we are being bullied into selling our shares and after having been part of this for so long I’m resisting this as much as I dare. Hopefully ShareSoc might get some answers which will help us decide which way to vote and feel comfortable with it.
Just wanted to say thank you, I stumbled on this page trying to find out what was going on with SXX.
I’m a noob when it comes to shares, and have been slowly buying through a share save scheme, I’m now up to 9000 odd shares (go me!).
I know am a minnow compared to most, but I saw the ShareSoc mentions and have joined up to their page.
My initial though was just to accept the offer when it comes through, but I can see that a lot of posters here are not willing to accept.
To Me. That seems a little silly as we could loose everything, but, I am willing to listen to the WHY we should vote no.
I just don’t understand why...
So in laymen’s terms, why should I consider voting no...
Cheers,
Lairy.