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@Terrafin SSL said in one of their releases recently (to pacify holders probably) that they had plans to release quite a bit of info re marl projects quickly after the T/O (if it happens)
There must be quite a bit of drilling news stacking up ready to be released once a deal or no deal is confirmed. Whatever happens it still remains that HM is a superb ultra high grade find and this must be reflected somewhere down the line ...
Still over 10m of 2016 placing warrants to go. Will these subdue the SP up until the 23rd? Have the Arbs the appetite to suck them all up?
SAND up nearly 5% at 3.81......
But these are 'Written', so they're options MMCAP have sold to someone else aren't they?
Options to buy SAND stock at a pre-defined price regardless of the actual market price at the time. Some of the exercise prices for these options are well in excess of the current sp, so on the face of it, yes, you'd have to say they appear to be bullish about the long term future. That said, we could only be sure about this if we knew where these options came from and what they have done to have "earned" them. And that I can't answer. Can anyone else?
The RNS at 14.52 refers to a number of SAND call options at various prices issued by MMCAP. If anyone who understands these things can comment, it would be appreciated. Specifically, does this mean that MMCAP is bullish about SAND? Cordially Lionel
I'm not selling.. usual games going on by the Mind Manipulators. Anyone here got a stop loss in place?
I had the same with Barclays. Although I sold out if I had of stayed I was going to bed and isa them into h&l.
Do people know something I don't is everyone selling up share price dropping
Thanks Terrafin, so if you hold shares on that date you automatically get the cash part of deal then merged shares. However, if you sell before then even if after vote but provided before the 23rd you can get out! My original intention was to hold but currency rates and tax implications of cash payment are both issues. I will probably sell and then buy back in but a smaller investment (a third of what I have now). I think Sandstorm are an interesting long term proposition but I don't want them making up 80 per cent of my portfolio!
Last date for trading MARL shares is 23rd June on AIM.
sell/hold or simply transfer the stock to another more able broker
If they vote yes on Wednesday am I right in saying shares are still listed on AIM until end of month and cash payment and merger happen towards end of month WHEN the share is delisted or does it all relate to 14th June date? Any clarification grateful.
Barclays have told me I cant take the dealwith sancstorm as they dont deal non sterling shares.If I dont sell they will !
@Blackfisk21: yes, I do, absolutely! But then I do have a pretty dire investment record! And WTFDIK! Cordially Lionel
I don't expect it straight away. In my opinion, nothing will happen with HM until after the PFS, and nothing will happen with Ergama until after they get the permits and complete the initial drilling campaign. Both of these things will hopefully happen this year, but I'm personally not expecting too much until September earliest. The one thing that should drop before then is further HM drill results, including the first really pivotal news from the Russian Zone. If they hit something big there, then SAND should increase nicely.
If the takeover happens, does everyone expect Sandstorm to give us share price-boosting news? A deal with Lydia on HM? An Ergama sell-off?
I agree that there are no other interested parties. Both 75% criteria apply only to shareholders who actually vote. If there are 100 shareholders and 99 of them don't vote, then they will be considered to have 100% approval if that 100th voter votes YES.
The same was being said about SEPU after being offered an appauling price, then after months of waiting and everybody assuming, there was never another offerer and everybody was let down. I highly doubt there is somebody lurking in the background, its just wishful thinking that alot of PI's do... With regards to the 75% you said they need. Does this mean that if many people do not vote yes or no, then it doesnt count towards the 75%? If thats the case, then its somewhat a possiblilty that this deal doesnt go ahead...
Whatever may be happening in the background, I think we can all agree that next week is going to be a rollercoaster as certain hands get shown. I'm waiting for that 500k at 108p to turn up at some point too. Have a good weekend all :)
But @Lionel, to answer your earlier question: I can't see any advantage to someone who is considering making a counter offer waiting until the vote has taken place. If they seriously thought that a NO vote was on the cards, then I guess that by waiting, they would be able to take advantage of the volatility / fear following a NO, and put in a more modest bid. However, if they think there's a possibility of a YES vote, then why wait? I can't see why they'd be in a better bargaining position after 75% of shareholders have agreed to a competing offer, and being forced to rush this kind of thing would surely not sit well with them. There's also the question of due dilligence. We know that Sandstorm's approach was made a few weeks before we were made aware of it, and they were able to evaluate certain things which are not in the public arena. I can only assume that anyone making a counter offer would want to do likewise, and in that case, surely a counter offer would need to have been worked on for some time now. OK I accept that this doesn't mean that we would definitely know about it already, but surely Mariana would be talking to whomever is considering making a counter offer and would be encouraging them to get their offer on the table (and disclosed to shareholders) before we enter the critical phase of Sandstorm's offer process which starts next week.
Yes perhaps @SGD although I do not think anyone is expecting a NO vote in terms of holdings. What I have said twice here but noone has commented on yet is that the more important threshold is number of distinct voters. They need 75% of votes cast to be a YES, regardless of how many shares each voter has. That's the one which I think might not be 100% in the bag, and them buying more shares obviously does not help with that criteria.
.... including purchases of 175,000 shares for £176,530 from yesterday (8 June) and 330,000 shares for £329,930 from two days ago (7 June). Cordially Lionel
"The current MARL SP has no effect on the profitability of what they have already done." This is assuming a YES vote of course. They'd be in for quite a loss in the event of a NO vote. So I wonder if they might consider buying up some last minute batches of shares even at a disadvantageous price, just to be sure of getting enough votes to remove any doubt?