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No one believes another company might come in and buy us?
So .. all those warrants recently gobbled up.. who would have bought them perhaps with immediate resale in mind - the MMs? The mind boggles as to the cleverness/complexity/deviousness of those in 'the know'. Guess that's why they are money men and I'm still a wage slave!
I don't think MARL could have ever realised the true value of HM on it's own and I'm happy to be diluted a little in order to derisk everything. Taking the 28.75p cash and holding onto the Sandstorm shares is a no brainer to me.
This deal is reverse carve-out with free carry on everything ex HM. Multiples aside, the bet is really if Sandstorms scrip will outperform Marian scrip. I'm expecting big block investors to reject this offer and demand more. There isnt the cash, so it will have to come in scrip.
Issue is Road End ,is that the benefit to Marl shareholders is massively diluted!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hey Ludeck, following on from your post yesterday is it your understanding we have already started drilling the Old Russian site or are we still awaiting permits? Could Sandstorm be privy to unreleased info on that?
Obviously I meant 56%+ (doing too many things at once)
Hi Ludeck, FYI - I topped up at 84p this morning swell and not showing my trade yet. Must be delayed.
I'm with you fulmar, unfortunately gp and er will think they are heroes this morning (With lovely new directorships in new co!) Sandstorm will sell HM back end of this year for a around $250m with a massive royalty stream attached to sale, and still have all of Mariana's other assets for free
Despite not getting what was anticipated directly from MARL regarding valuation of HM, by holding Sandstorm shares you will still particiapte in the value of the resource as it progresses. So can't see what the real issue is here unless you don't want to hold a US stock. I'm hoovering up shares in MARL at the moment as this is like stealing sweeties from a baby
That's right. They have irrevocable support for 19%, so that leaves 51%+ to secure the deal. I cant see that getting through and it will need to be sweetened. GP and their support should still stand even in the event of a revised (up) offer.
The offer is so low that it must be tempting for a cashed-up major to move on Mariana.
at all with the offer,it will be interested to see the Sprott reaction.And if the institutions do not see the value of Sandstrom now with an asset potential in turkey worth more than their Mcap i will be amazed.as I said NOT HAPPY
Is that right ?
showing as sells.. I've just topped up in anticipation of hungry investors across the pond this afternoon..
@Aardvark. How did you buy at 84p? No evidence of anyone getting a buy price anywhere close to that. Is someone telling porky pies?
who will now be the new MDs of the spin off company.On massive wages and long contracts. Doesn't seem at all dodgy ?
The discount is not necessarily down to risk but PI's being unwilling to cope with Canadian dollar , US dollar , Foreign market etc. Too messy.
Not sure why the market is valuing this at 86p. Risks are: deal not happening; Sandstorm SP falling; exchange rate. Current upside is about 20% and risk seems low to me. NYSE opening at 2:30 will be interesting. Have doubled my holding - added at about 84p earlier today. Anybody else got an opinion on the risk?
also can trade SSL
Pre market price for Sandstorm is $3.75 ( per Seeking Alpha) which translates to c 100p GLA - one that I missed! Congrats to holders!
You can also do this over the phone. Has to be renewed annually
GP has stated previously that there would be an 85% cash back to shareholders on the sale of HM. I assume this will no longer be the case.
Good Advice! Hot Maden is a hot property and if rumours of the latest resource estimate are to be believed, then there may be a counter bid, if not more than one. That is going to push the price up!
Hang on to them. This has more to play out with a possible 20% further to run.