Sapan Ghai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Renergen - Yip, not one for orphans and widows, but the risk is currently priced in so might be worth a punt, but don't put all your eggs into the Renergen basket.
It has not ended yet
Someone must have heard us, funds now paid into my shares ISA and ready to reinvest. Thanks again to all who posted on here over the past 4 years, shame it ended like it did.
My broker (HL) stated it would be on or around the 7th May but I am concerned that the date is not definite.
Does anyone know when the payment for tendered shares will arrive? I thought 7th May, but clearly not...
BTW.. who is buying mcz and why..... today and yesterday on jse
You have to be v brave to take on renergen now. their expenses to produce lng far outweigh revenues derived from it.. first helium only produced a few days ago...
Also look at Copper 360 and Renergen.
Morning. I'm already on board there sandman
Orion Minerals looks like a good bet anyone on board?
OK thanks John. The sooner the better.
I read it was on or around the 7th May. This is very frustrating as many people want to reinvest to try and recover losses. I've missed a 12% rise in another share I currently hold (Costain) over the past 2 weeks.
Anybody know if or when we are paid out?
Money sitting idle is not good, need to re-invest.
All the best chaps...
Last day to trade today, so cheers everyone and all the very best for the future.
Dear Jan
Thank you for your email and raising your concerns with ASIC.
ASIC values the information we receive from the public, and reports of misconduct such as yours assist us in working to build confidence in the integrity of the capital markets.
ASIC notes Goldway Capital Investment Limited (Goldway) released a Fifth Supplementary Bidder’s Statement on 15 April 2024 (Supplementary Bidder’s Statement). Part 5 of the Supplementary Bidder’s Statement sets out the reasons why Goldway required relief from ASIC to extend the Offer Period.
In particular, the Supplementary Bidder’s Statement explains Goldway acquired a relevant interest of 83.67% in MC Mining Limited prior to the original close of the offer period, which was 7:00pm (Sydney time) / 10:00am (South Africa time) on Friday 5 April 2023. However, due to market practice in South Africa whereby share acceptances are only processed once a week on a Friday, Goldway was not able to receive notification from the South African registry, for acceptances received by the South African registry until after the original close time (which arrived at 11:20pm (Melbourne time) on Friday, 5 April 2024).
In summary, due to the time lag explained above, Goldway were not able to verify before the time the offer closed that they had or hadn’t in fact received the relevant acceptances in order to meet the outstanding condition of the take over offer. Accordingly, the ASIC relief granted allowed Goldway to determine whether the 50.1% minimum acceptance condition had been satisfied before the original close time.
We hope this further disclosure by Goldway clarifies questions you may have had regarding the take over extension.
Kind regards
Sean Ferguson
Corporate Finance
Markets Group
Jolly, as the offer is now unconditional I fear it makes sense to accept. Risk is you're left holding an unquoted stock that is impossible to sell. if they do have a compulsory buy out then it might be some time before you see your money.
waste of time and money. david brown would be turning in his grave.
I will be waiting it out until the last minute. It seems the company have no intention of fighting or objecting.
So for the minnows like us, it seems pointless to try and fight off the sharks. Time to move on having taken
a huge loss.
Thank you, Hemmings8
Dear Sirs,
I hereby wish to request an inquiry into the 11th hour granting of extension to Goldway Capital Investment’s bid for MC Mining’s shares,
from 5th April 2024 to 19th April 2024 as well as the sudden gain in holdings within a spate of a few days, despite the widely
promulgated SENS from the independent board committee to reject the offer.
Merely some background – I have long held MC Mining shares since 2011, which was then Coal Of Africa Limited under the helm of
John Wallington. Over the years, I continuously bought shares with the fact that it would be the premier hard coking coal producer
in South Africa. Whilst I knew the funding challenges it faced, it did not deter from the fact that the Makhado Project would
be the company’s game-changer. These are fundamentals in stock purchasing, and not technical analysis as a short-term investor.
Following a change in CEO to Late David Brown, there was the company’s name change and a share consolidation of 20:1
as the rationale behind this was to attract institutional investors. Despite this, still I bought more shares as the type of coal
was not thermal, whereby environmentalist groups being up in arms against this.
Then in September 2022 we had the R472m rights issue to raise more funds for the Makhado Project which took my holdings into greater share dilution/oblivion.
I would hope and beg that after having explained these facts, that an inquiry be lodged immediately to ascertain the sudden gain in holdings.
Bozmo sandman hemmings tootight..... what r u guys doing
This takeover is not philanthropical..." we are trying to save minority shareholders from illiqidity etc" ha ha. they are doing this because they are going to make heaps . they obviously have deep pockets or access to money as this takeover is costing millions. so I'm sure they have plans in place already to kick-start makhado.. 18 months. then 2 years recoup money. then dividends . fat ones. so I am going g to stay invested. and hope they don't het to 91%
A shareholder registering potential unacceptable circumstances objection and why the extension was granted at the 11th hour might cause everything to go to review . Shareholders don’t know that the IBC objected to the extension. Write to:
Allan Bulman
Chief Executive, Takeovers Panel Level 16, 530 Collins Street Melbourne VIC 3000
Ph: +61 3 9655 3500 takeovers@takeovers.gov.au
and
Sean Ferguson
Corporate Finance
Markets Group
Australian Securities and Investments Commission
Level 1, 11 Mounts Bay Road, Perth, 6000
sean.ferguson@asic.gov.au
Let's go down fighting
And i was waiting for a pound a share. New mgt a bunch of bar stewards.
That was Goldway.
They did issue a statement - they secured 83.3% of total shares...ramping up to 90%+ by 22nd April