Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Of course the first offer was better, NAV would have been well north of 4p, this offer will only get NAV to 2.4p at best.
Why anyone thinks they will increase the current offer, beats me. After the stupidity of the last NO vote they came back with a LOWER offer, guess what happens if No wins again?
Answer: Either an even lower offer or NO offer!
$25m within the next 10 months and an $80m cash receiveable, yes, it was clearly a better deal than $35m in 3 months time
"The better offer was there, but shareholders turned it down"
Do you really think the previous off was better? $105m over 10+ years??????? Get real!
Both deals are not worth considering but with the current climate, at least with this one we get everything in the next 90 days.
I'm not certain if I should vote at all. I'm tired of this dog, and I want to get rid of it. Even though I assume that receiving 50% of my money back is a consolation prize, I'm not content. $35 million is insufficient, but you never know. We could get a different or better offer.
The better offer was there, but shareholders turned it down.
Under this offer the BOD take a loss on their shares, their options are worthless and the company will likely be wound up in the near future as well as they'll likely get voted out at the next AGM, they are not recommending it because there is something better coming along.
There is hope and then there is foolishnes
The money i will get back at 1.8 pm will it be life changing .. No
Is it fair value for fo 13 years of investment ...No
Will i be able to invest the money im getting back into the market and try my luck with another share..No ..to late, to many years have past by so on that basis i will vote No and hold out with the hope of a better offer
Didn't they say as much last time. ?
I think you should carefully read the line in the RNS where the board of directors are clearly stating this is the only chance to recover the sunk costs.
if this russian investor is truley done with this offer i would be suprised, its usually 3rd and final offer, never accept the first two...but if he does pull out, then anotthe rrussian entity will emerge more likley an asssociate or rival who will not bid against the current buyer t avoid internal issues in the russian buisness world its just not dome over there..anotther buyer will emerge with anoter offer or two, i say NO and atleast 75 million should be the price..
Voted NO today 3 million shares.
I too as a lth votes NO to the last deal but will now be voting YES.
The deal has changed the situation has changed.
On the news of the first dealI was poised on the sell button at 2.9p but genuinely thought we could do better and so voted NO.
But now I don’t see an alternative if I want at least some money back.
As a lth who attended the last meeting and voted No I am in the YES camp this time. Fortunately I managed to lower my average to around 2.2 so may get my money back eventually if the vote goes through. I won't be committing any more funds though this time. It's such a shame but we are where we are unfortunately and the situation with Russia is unlikely to change in the near term. GLA
...and it's a yes from me.
Like many LTH I would love to see this go out at or near it's 'true' value but, Ce la vie.
Svidlov will have been accumulating, many LTH will have massively averaged down, the money will be paid to shareholders by special div and we still hold shares = sentiment has changed.
Now that the deal is out in open am i right in saying Svidlov and his proxies can buy shares to get the deal over.
Only 15% of share capitol voted against the last deal, alot of defected from their now.
Im surprised not many of the lth are posting here after the current deal, they were in may.
Is the telegram group still active?
First ever tick from me CT,
Glad you have finally woken up.
This or nothing now, IMO, sadly
It's looking like the SP will get near to the offer price unlike the last vote.
Sold 1/4 of my recent sub 0.8 purchases to hedge the vote and may sell another 1/4 if the SP gets to around 1.6, will wait and see what strength there is as my gut feeling is sentiment is very much moving to a yes vote, so may keep hold.
Still some beans to be made here especially if it becomes clearer yes will win.
Lots of talk about risk... if you bought now and a ceasefire was called before deal completed you'd potentially be multi-bagging back to $105m - 6p+ a share!
1.3 to buy and 2.38 of value. Yes, this is a screaming buy. Like all things it has risk. but for 60 - 70% gain. Where else can you get those gains? In 3-4 months?
I have an easymoney account and I get 5.1% and that is NOT guaranteed and I could lose all my money. LOL So if that has risk for 5% you have to accept some risk for those gains. The other day on offer was 100% gain. What more do you want? Maybe your not a new investor but and OLD investor and will lose on this deal?
Not many other shares at this moment can offer what is now being handed to any buyer...
Market Capitalisation £19m
Offer price £29m
With £5 - £6m remaining in the company. Whats not to like? Of course there is always risk. No risk not gain.. Its all here. Anyone who buys here now gains if you vote YES. Sad for the long termers. Their loss is your gain. Strong Screaming Buy
Ill be voting yes purely to end all of this ****e, the time and effort alone on this share has been exhausted, its a dog and needs putting down if its true that we also retain the shares then perhaps it may yield a bit more when sold
I'm a LTH here and infrequent poster and it will be a very reluctant " yes " vote from me . Some SHs have advanced the argument that AMC have enough cash in the Bank to " ride out " let's call it what it is war . Who knows when this terrible war will end I certainly don't . What I do know is that AMC are expected to complete a Mine Plan and submit same to the RF for approval sometime 2023 . Even if it is submitted on time and approved by the RF we have no way to advance . From the RNS :
" The Company has been advancing the Project in accordance with the terms of its Detailed Exploration and Mining Licence and notes the anticipated life of mine capital cost estimate of US$ 1.92 billion, including US$1.14 billion for preproduction and construction costs of a 12.4 million open pit ore tonne per annum operation, as detailed in the TEO Project Russian feasibility study. The Company does not foresee this financing being readily available in order to advance the Project to production.
· The Company has received no other proposals for the acquisition of Kun-Manie and is not in discussions with any other parties regarding a disposal of the asset "
It's unlikely that the RF will allow AMC to sit it out and do nothing in my opinion :
Was it last year or the year before that the RF highlighted that it was not acceptable for Companies not to be progressing their Licence obligations? AMC would be in a position where they would have to tell the RF they can't advance KM and lose the licence or potentially accept an even lower offer from VS . Once KM is back with the RF it will be rigged auction time with KM going to the chosen one - probably VS . It will be the Roman Abramovich scenario all over again .
Ultimately we all must do what is best for ourselves and families and this unfortunately appears for me to be the best of a very bad situation we find ourselves in
Im surprised Norlisk has not come to the table
I really thought they would have put in a counter bid..
O well after all it is Russia
KinRoss received their cash in dollars, all those that were saying doubts on whether payment can be made.
Svidlov was also the buyer for kinross asset..
"TORONTO, June 15, 2022 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross”) announced today that it has completed the sale of 100% of its Russian assets to the Highland Gold Mining group of companies for total consideration of $340 million in cash. Kinross has received $300 million in U.S. denominated cash in its corporate account and will receive a deferred payment of $40 million on the one-year anniversary of closing."
Gazzleberry
You cannot blame the board, the war began just as they were close to signing deal. Then west started putting sanctions on russia and ordering companies not to invest. In current situation its impossible to sell asset to foreign entity.
The board itself say the asset is worth between 105m-138m but obviously a bit of discount cos its in russia. Svidlov is paying 25p in the £1 for the asset. God knows how long the war will last but we one can speculate that sanctions will be on for along time.