Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Bear in mind this is only a revised indicative proposal... It is not an offer... Yet.
The last raise was at AUD 0.20 when the firm was producing negative cashflow. Now that the firm is producing positive cash flow - perhaps enough to cover the coupon on the debt package to build Makhado - I cannot see how the board can recommend this offer to shareholders .
I expect a much higher OFFER will be needed before the board recommends it to shareholders. For example, the Tennyson analyst report highlighted "the sum of the parts" is 21p (~AUD 0.40)...
Page 5:
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.mcmining.co.za/all-categories?task=download.send&id=1773:tennyson-equity-research-reportl-mc-mining&catid=107
Lets hope other interested parties are watching and will also make an offer... I have no doubt Senosi wants to buy this cheap but I also expect he has a price in mind if someone else will pay the true market valuation for this unique asset.
Massive sell-off!! why would anybody sell off at current sp when 16 oz c is circa r1.90...??
As of today, Senosi holds 23,4% and Dendocept holds 6,9% of total shares in issue.
I don't agree with it in the slightest, but nothing of note got passed in the last AGM, we are vulnerable untill funding is granted and we can move forward, but if 64% oppose any funding deal offered it's stalemate.
Aim shares for you corrupt.
Senosi is a small fish in a big pond. Cannot see why anyone would follow him.
Latest offer even worse than first. both offers ludicrous. any idea selling would be stupid in the extreme. 1 or 2 cents negotiated up..... please.. ! ,tell me again how many shares you own??
Senosi's only way he gets 64% of shares probably, 71% not in public hands so most of top shareholders back it.
So Yi He and her family own approximately 87 million shares (22%). Wonder who's side she is on.
Well think about it - "recommend for shareholders to not take action." Meaning prevent a "mass sell-off" whilst depreciating the share price. Nice one.
RNS after JSE shut, a lift tomorrow of the SP above offer price would be helpful
Hopefully they can negotiate it upwards by one OR two cents?
Well below market value a joke, but unfortunately I don't see a happy ending for PI's, all being done to suit those in the thick end of it.
The headline says it all...nonsense.
Any additional views based on information coming to light?
You would have to be extremely stupid to accept that offer. especially when the sp is being worked to make it look attractive.
Well - share price is sliding at the right time.
Guarantees a 0.2 AUD cents takeover offer being the agreed upon rate and nothing more? Would not want to charge an already existing suite of directors / incumbents.
Perhaps it is the reverse of what you think... For every seller of 500 there must a buyer... I wonder, who would want to tap the price lower...?
Someone on the JSE is attempting to keep the share price up. This has been going on for months, every day when the SP drops you will see a buy of 500 shares at a higher price. Very strange. (or is it?)
Sub .7
Well below the takeover offer, which is looking more value each passing day.
Todays AGM outcome: only 2 resolutions past as approved out of -+15. Makes sense, can only mean the takeover is likely to happen and it is sadly not business as usual.
Lol
Senosi going to get this real cheap. Real cheap.
Doing this however will limit the scaling and scope of the company - having move off the grid. My gut feel says that another Black entity will buy them out offline at a much later date and at a much higher value - viz Exxaro or ARM. Those in today - will profit BIG in the long run/
They would buy-inn NOW to consolidate a position of being a truly "black-led" company with interests in potential government opportunities like Eskom as well as the PIC (Public Investment Co-operation).Being a truly black led company from the ground up will also allow them to achieve major awards / rebates & funding facilities at some point down the line.
By going down this route - all future partners are likely to follow a BBBEE scorecard and are also likely to be SELECTED on invite.
Buying in on the cheap is a no-brainer prior to further network canvassing.
The main point is the huge reserves of met coal at Makhado. Also, Uitkomst is producing met coal...
"Operations & sales Uitkomst produced 445,474t of run-of-mine (RoM) coal in the year to 30 June 2023 (FY2023), which resulted in sales of 230,181t of high-grade coal and 11,185t of middlings coal (a lowergrade, high-ash product), an implied combined yield of ~60%. The high-grade coal comprises peas (a sized product sold mainly to local traders for sale in the provincial market where it is used for energy or steam-unit production) and coal in the 0-40mm size range (sold as pulverised coal mainly into the South African metallurgical market). "
Read the Tennyson report, the business is generating enough (and increasing) positive cash flow to service a coupon on a potential debt package to potentially finance Makhado... Think about that. Why do you think the consortium is trying to buy the business on the cheap before the board agree a debt package that will transform the company and valuation.
Source:
https://www.mcmining.co.za/our-business/operations/uitkomst
https://www.mcmining.co.za/all-categories?task=download.send&id=1773:tennyson-equity-research-reportl-mc-mining&catid=107