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Before this weeks RNS many said £1.50-£10 per share for sale. Now everyone seems happy with a £1 div and shares in a company thats sold most of if not 95% of its assets.
Why the shift I’m really interested to know. £1 div and shares in a shell company to me is poor return for many.
Everyone Dealer? Could you quantify that statement please?
Only a handful of people said up to £10. Most of the guesses (pre-Rosgeo) were in the £1 ballpark and I imagine most now would be happy with a special dividend around that level *if* it was also accompanied by either taking the Rosgeo assets to production or a free carry on the revenues from all assets if they are all sold.
Well the highest the SP has ever been is about 42p so a £1 divi would be more than 2.5 bags for all shareholders. That’s not bad!
I see your point though. I do wonder what will be left of the company and what the share price will be once it has sold substantively all of it assets.
If the Divi is less than 100% the current SP there is a risk of shareholders ending up down on the ex div date. I think this is why the SP hasn’t gone up since the RNS as the SP could go very low indeed.
My view is the residual company will pursue new opportunities and in any case the divi will be more than 42p. But who knows?
I think everyone knew a pound per share return was a good outcome, and to keep the shares sounds good to me.
Ok not everyone many predictions from many posters.
Dealer, i think there was a sense of anti-climax following the latest rns, and perhaps expectations have moderated. Whatever is going on behind the scenes, I'm confident that the BoD is acting in our best interests, but the outcome of this labyrinthine negotiation is not an easy one to predict.
Sure we'll be happy with the final result.
ATB , W.
£1 is a great return whatever way you look at it, especially if those assets are maintained. If you bought in now, your profit would be in the region of 250% your initial investment. That’s not easy to achieve in a year.
I doubt the company would be sold for around this share price - the directors had a choice of offers to take, and DS was never willing to take on a lowball offer. Remember these guys have a lot of skin in the game.
I’ve never ever predicted and in from 1.19p. But many seemingly credible posters with research and level heads are convinced £3-6 is not dream land. I’d take £1 div it’s unbelievable for me personally just interested to learn.
RNS perfectly plays out selling the assets (Over 90% if you go on the wording) to pay the shareholders a dividend and use this to partly fund some of Rosgeo JV.
I say this as I believe the vote at the EGM regarding the ability to raise addition shares was a powerplay rather than actually required by the bod. (My opinion I could be completely wrong and open to other ideas)
EUA will then move forward after we have voted at the AGM under Rule 15.
Lets see what happens, hopefully see an ACF update next week or some more news, have a good weekend go have some fun.
GLA TGU
Without clear asset value knowledge we can’t predict really. So guessing is over or under depending on many things per posters.
I have 266k shares left and don’t need to sell until the end. So I can’t lose or moan. Be a very interesting next few months I bet.
I honestly think this is wrapped up by the AGM or final decision made at the AGM. Hope hopefully only 1.5 months max dealer!
£1 divi and many years of royalty dividends could be quite good for many tbh. All we can do is wait for the exact details to land. Some may think WK and MT will be sold and we'll head into the Rosgeo JV assets, going from certain parts of the RNS comments -
Christian -
"The Directors are committed to maximising the value for all the shareholders, and we are delighted to have received a proposal from a credible party that could allow us to pay a significant dividend to all shareholders"
"The Board has a strong confidence in our opportunity to create a globally significant PGM and battery metals producer that can be achieved through our Rosgeo JV".
James -
"We are also focused on the creation of a globally significant producer of PGM and battery metals"
If it rolls that way then it's dividend payments for life.
GLA
It's either that or they keep dropping the confidence lines in RNS to show any buyers that we're in a very strong position to roll with things ourselves. Even after reading the RNS a few times you can never be certain that all of the assets will include the JV ones or not.
Part of the RNS prior to the comments does suggest the Rosgeo JV initiated some form of large bid/s -
"However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent ("Pt eq") Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project on Kola (as announced on 26 March 2021), the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale."
Intriguing and possibly a little confusing all at the same time.
GLA
Just to point out it is not a 'special dividend' but "pay a significant dividend to all shareholders"
Significant meaning -
Very large or noticeable,
Sufficiently great or important to be worthy of attention,
Important, large, or great,
Sounds good to me :-)
" (four of which are post Russian Feasibility Study with state approved reserves) "
Maybe the deal will include MT WK and the 4 assets they are drawing our attention to
My own take is that it's WK and MT being sold and we'll roll into the Rosgeo JV. We don't currently own the JV assets do we, it quite clearly states " will gain", "("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets". We have 2 years to decide which ones to roll with within the JV structure, 4 explored with state approved reserves. What will happen with those JV assets at a later date is open for debate, possibly sold as they are developed to certain stages, or, some sold and some taken to production for ourselves. The confidence to create the PGM and battery metals producer is mentioned in both comments.
They always leave you with something to have a long think about don't they lol
GLA
£1.00 may be unbelievable to many on here, but let's look at this a wee bit more positively.
Ignore current sp it's not applicable in this case.
Consider BOD 20 years plus in the game with an Aladdins cave of never more sought after assets. Not any old assets. Some absolute corkers.
A BOD that want out and with massive skin in the game.
I've no doubt that more than one buyer has been interested in winning such a rare and relevant acquisition. Remember the BOD were approached to sell.
The assets involved are going up up up in value.
They are in the main easily accessible which means quicker and more cost effective extraction.
The team negotiating the FSP are.proven top notch professionals.
The BOD will know the worth and are shareholder focussed (themselves included)
There may never be another acquisition like this one.due to the rarity of the assets.
With future projections of the values of the assets the buyer can be satisfied that they will make billions going forward.
Now the end is in sight with a positive message from the BOD It's natural to play it down a bit as £1.00 is a chunk higher than current sp.
But really, £1.00? It's significant, but I don't think that's 'significant ' enough for this baby. I'm going £2.00 min with £2.40/50 ps being more realistic.
In this particular case it's 100% a Sellers market imo. Bite your hand off time.
Even at this price it's winners all round whoever is the buyer.
All IMO of course.
If this goes.ahead as
Spotify, I totally agree with your post.
I’m in no better position than anyone else to say what’s going on in the board room, but I quite like the idea of keeping WK to mine ourselves. That way we’re not a shell company, we’re miners and have a good steady cash flow to pay the team and investors another divi. Only an opinion of course but one which is plausible.
ATB, Pete
Spotify - could you please provide further detail on your figures. I’m sure everyone here would appreciate it.
It all depends exactly what is for sale spotify, you can't say 100% for certain what is and what isn't from that recent RNS. Everything points to Eurasia continuing after this deal is done, but, we don't truly know at this point exactly how or for what purpose until they give us the specifics. Still expecting north of a quid myself, just for monchetundra tbh. We'll find out soon either way.
All the best, have a great weekend.
GLA
Robert, that was my point earlier, they’ve upped the anti.
ATB, Pete