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I believe they can be sold straight away. If I find out any different I will let you know.
Thanks for your help KevTheRed, much appreciated. So once you've exercised the warrants and turned them into shares, have you any idea how long you have to keep them or if you can sell them straight away?
Hi Daccas, My broker has told me that the warrants should show up in my TD Waterhouse account within the next couple of weeks. They also told me that to exercise my warrants: - 1. The funds need to be in my account. I will be getting 18190 warrants which I can exercise at 44 Australian cents anytime in the 3 years from the merger date (by April 2019). To acquire the additional 18190 Perseus Mining shares it will cost me AUS$8003 which is just over £4,000. 2. I will need to telephone my broker with a verbal instruction to exercise the warrants. I will then receive my 18190 Perseus Mining Shares once the process is complete. At today's closing price of 0.59 cents, the additional shares would be worth AUS$10732, £5547, a profit of over £1500. The shares were at 0.66 cents per share one day last week but have drifted back slightly. I intend to keep my Perseus shares for the time being, plus the additional ones I will acquire with the warrants. I have read on a few Australian sites that Perseus shares should be re-rated now the merger with Amara has gone through. Many gold experts are also predicting a rise in the price of gold, which should help further. I don't have any experience of selling actual warrants, so I can't help you there.
Hi, Please could someone explain how the warrants will work. What's the process for "exercising" them, how long will it take to sell them and how can I sell them? Thanks. Dave
Kev - yep, take some profit and let some run for a bit more, hopefully - nothing wrong with that plan. I see this as a solid leveraged investment, so as long as pog behaves, I may keep the warrant shares but protect them with a tight stop.
It's good news so far Bridgenut. I originally held 53,500 shares in Amara and my broker, TD Waterhouse, informed me on Friday that my account will show my Perseus Mining Shares (36,380) and warrants (18190) within the next 14 days. I will then be able to exercise my warrants. I intend exercising the 18190 warrants and selling the additional shares I receive from these warrants immediately (for a 50% profit as things stand). I'll hold the other 36380 shares and see how things pan out but I already have a substantial profit on these 36380 shares. Let's hope for a continued rise.
day for Perseus - up to Aus$ 0.66 or 23.3 pence in old (AMA) money, plus a Aus$ 0.22 premium on the warrants. With the strong rally in pog, you have to feel that there's more legs in this.
Those peeps that didn't sell their Amara shares might be interested to know that the Perseus share price jumped 15% to Aus$0.61 in the last trading session. At the current GBP/Aus$ rate of 1.92, that values Amara shares at 21.6 pence converting back (one Amara share converted to 0.68 Perseus shares). Already plenty of extra value available in the warrants that can be exercised at Aus$0.44 (0.34 of a Perseus warrant for each Amara share). Continue to hold, I'd say ; )
Those peeps that didn't sell their Amara shares might be interested to know that the Perseus share price jumped 15% to Aus$0.61 in the last trading session. At the current GBP/Aus$ rate of 1.92, that values Amara shares at 21.6 pence converting back (one Amara share converted to 0.68 Perseus shares). Already plenty of extra value available in the warrants that can be exercised at Aus$0.44 (0.34 of a Perseus warrant for each Amara share). Continue to hold, I'd say ; )
The End
No, its a done deal. After the court acceptance on Friday this was planned to suspend trading
Perseus up to A$0.47 today, now above warrant price
counter bid or bad news?
If anyone holds shares on the Alliance Trust platform there is no decision to make as they sold all holdings on 13th at 16p. I received a letter today confirming this. No advance warning!
If you don't sell and get Perseus shares, you will need to check with your broker to see if you can sell Aussie shares through them. If not you'll need to use a broker that does. How many Amara shares do you have? If it's a small number and you are already in profit, then you may wish to sell now.
I can trade Perseus shares through my broker, TD Waterhouse, so I have decided to wait. I will be getting the same value in Perseus shares as the current value of my Amara shares so effectively the warrants are a bonus. I think that once the merger is complete, Perseus shares will eventually re-rate because of the enlarged size of the group and the mine the business will acquire at Yaoure. So hopefully when I exercise my warrants (and I can do this through TDW as well) I will be able to buy Perseus shares at 0.44c at any time in the 3 years after the merger. Hopefully the share price will be higher than the current 0.44c level. I will qualify for over 18,000 warrants so for me it is worth waiting.
. . . at @86% LOSS. Was long term holder (as you can make out from the size of the loss). Sorry to say that this isn't my worse performing share.
First ever post. Alliance Trust sold my small holding yesterday and are only writing to me today to tell me! When I called earlier today they said something similar to HL .I will have to wait and see what their letter says. Disappointing as I have been a holder for a couple of years and was hoping for better things long term.
As time passes with these shares and the merger or whatever you wish to call it, i'm becoming more and more confused what with Hargreaves Lansdown telling me that the Dls shares could be unsaleable and therefore worthless. Have I read and misunderstood what Preseus have stated about the warrants, my understanding is that they are issued in a persons name, and the only that person can convert the warrants to shares in accordance with the their layed down procedure of conversion. So how can the warrants be traded?
I think I made my point Reg and you have neatly endorsed it. The resource has increased by 33 times and the share price is where? Approx 90% less than when the resource was 33 times smaller. Who"s fooling who?
Absolute rubbish, I'm fully aware of what has happened at Cluff Natural Resources. Agreed do your own research Amara is the largest resource base of any London-listed junior gold company and the largest undeveloped gold asset in West Africa. When Algy Cluff stepped down Yaoure's resources were just 0.2Moz - John McGloin has increased them by 33 times. Amara also has the strongest shareholder register of any gold junior, with some of the largest institutional investors as holders including Van Eck and Franklin Templeton, the list goes on.
Hi We will be making a market in Perseus Warrants. Unfortunately we cannot determine a price until the Amara Shareholders have been issued with their Perseus warrants . The price of the warrant will be determined in part by the price of Perseus Fully Paid shares. I will contact you as soon as the warrants are issued and provide you with a price. Regards Sean contact Sean Baguley at Bell Potter, an Australian broker, (sbaguley@bellpotter.com.au).
Not sure what you're getting at Fuzzlight. I've been here since 2011. Simply enquiring what the final price is going to be before we lose the AMA listing. In the event I want to top slice my holding it'll be much simpler to do so while this is liquid and listed on the UK market but I'll also want to do it at the highest price possible...which I'm thinking should be 16.3p if not a little higher.
Too difficult to sell Aussie warrants, not sure how they work anyway. Sold this morning at a 55% profit and will buy into another UK gold miner perhaps AAU.
If you believe that the gold market is on the up and that the combined efforts of Amara and Perseus are going to be more fruitful than the status quo then IMO you should hold. This may rise significantly both up to and beyond 15th.