Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Oh and 5. An improving copper price. Thank you panama
So 4 things to look forward to in january 1. Elix being signed off for comissioning. 2. Solar up and running. 3 ftse. And 4 touro being fast tracked or am i wrong?
The first five on that list plus two others will be removed from the 250 this weekend because their lower MCaps took them out in this quarter's review. Check the list after open on Monday and I suspect that PRTC will now be the lowest:
https://www.londonstockexchange.com/indices/ftse-250/constituents/table
But it's not just overtaking those at the bottom that get's you a new entry as they like to keep fluctuations to a minimum. Will need to be placed 325 or above on the qualifying date (27th Feb next) for automatic entry (376 or below for automatic removal of existing members) and the indices then rebalanced to always keep the required total number in place).
There are several other inclusion criteria that also need to be met (which I've not checked for ATYM) and many main market listed companies with multi million/billion valuations are not automatically included in the main indices. The full ground rules are in the following file - WARNING - this link will automatically download/open a pdf from ftserussell on your device:
https://research.ftserussell.com/products/downloads/FTSE_UK_Index_Series.pdf
Not recommended reading for a Friday night!
Currently sub 400m CABP, DGI9, CWR, LIO, 888, PRTC .... plenty of targets for us to hunt down
Obviously anything can change . Constituents are reviewed March, June, Sept. December.
My correction: you are right : FTSE 350 = FTSE 100 + FTSE 250 = biggest companies on the LSE, numbers 1 to 350. So we could take the last two positions of 250 ?
* Correction - technically the 'next' rebalancing is on Monday (18th) morning pre-market open, that one based on the MCaps at close on 28 November. But you get the picture, it's once a quarter.
FTSE100 + FTSE250 = FTSE350
Currently around £400m MCap at the bottom of the 250, around mid £500ms to get the required entry level (needs to be placed 325 or higher in the full 350 list rather than just 350 to get in).
Next rebalancing of the indices is in March 2024 based on MCap at the end of Feb. Lots of companies will have changed position by then so anyone's guess who will make the cut.
When all the administration is done FTSE350 membership is a given.
We will also be listed in the sub category FTSE350 Mining.
However, the prize is the FTSE250 .
We need to grow, and that is why I believe we will make a transformational acquisition.
Prices in the mining sector are currently suppressed so its a good time to buy.
Our share price has held up relatively well compared to the competition, so our shares would be good currency.
There is the additional motivation to get bigger: we stay too small, with no debt we will become an easy takeover target. Right now we can't defend ourselves against a hostile move (especially if involves Trafigura who already have 20% control).
So more than one reason to grow fast! The upside, timing could be great (as copper prices will have to go higher) and we are likely to achieve FTSE250 membership before 2024 year end.
That would be a stretch...smallest FTSE250 over £1billion...
ATYM £480 MILLION
As long as re-domiciliation finalised ... you should be right.
FTSE 250 the cherry ... need a few hundred million, easy to get there
One deal acquisition will do it ... and I believe its coming
Will go straight into FTSE350...
Wait till the FTSE listing...then watch it go...
SP got a bit of steam up
Insitutions buying in now its going onto the main market??
The 2024 projected surplus in copper supply now looks doubtful, after the First Quantum problem in Panama.
Thanks MrO, that was what I thought.
This will be a Spanish company, and paid from the new Spanish top co entity, so dividends will be subject to Spanish witholding.
The company will still have a structure in Cyprus.
Hello MrO, could you elaborate on your point on Cyprus entity and tax after moving the domicile to Spain please? Would we still get dividends paid out from Cyprus ?
We will now be domiciled in Spain
- for a Spanish company not such a bad thing
For Taxation purposes we still have an entity in Cyprus , so we will not pay the higher Spanish taxes
We will move forward to main market listing
Once Spanish domiciled we will meet a major criteria for going into indices
- we are still some way off getting into the FTSE 250 ... but add a couple hundred million euros to our market cap and we will achieve goal.
We do lose out anti-takeover defence: under our Cyprus set up and articles of association a hostile company no longer will need to seek management approval to go over 20% of the capital. Straight to 30% and will then be able to launch a hostile takeover. This is unfortunate and means the likes of Trafigura may well be able to engineer a takeover and sell us for a profit to Sandfire: IMHO.
You had to vote against the resolutions ....
Well all that saber ratling did a lot of good didnt it!
Fyi. 98% approval for move to Spain.
Many of us owned EMED ... including me.
They just got converted to ATYM.
I owned Emed Mining
Well they would if it was touro! Wasnt this discussed before at one of their discussions
Masa valverde project gets green light from Junta
From Robmcelf2 on ADVFN , this new probably worthy of RNS