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Ive been here before.
Its been a while.
ASA.
Directors gone.
director buy
Seems odd saying "I wonder how they are going to use it to shaft us" while purporting to hold the shares. Do you spend a lot of time with an orange in your mouth?
Bearing in mind everything they planned to do with 3.47 million (taking into account the fees), there's not going to be much left to throw down a diamond mine when they have come up 770k short, changing the company name is relatively cheap to do, but everything else right down to changing the headed note paper is where the costs mount up. I see the Chinese ( well one Chinaman) bought 35% of the total take up of the offer, and the new company was only set up around the 21st August, I wonder how they are going to use it to shaft us.
I'm on a Spanish forum with someone who uses the same name as you, so I just wondered.
Sorry nothing .
I don't think anybody with an ounce of sense would have taken up the offer, it was obvious from day one that the price would reflect the dilution, hence ever since the offer was made it's been cheaper to buy them on the open market. This offer was never made for the PI's, as you say one way or another the Chinese will be the only people to benefit. On a personal note TTR does La Zenia mean anything to you.
Dose not look like those who have taken up the offer will have anything to cheer about. The Chinese will take control,I can't blame them, they have invested too much here. Can't see where else this is going.
As soon as Mugabe passes away - stability will be brought to this corrupt country and then this share will more than double in value...
Got mixed up there Gorsuch but thanks for the reply anyway!
Atlas Mara Limited is a rapidly growing sub-Saharan African financial services group listed on the London Stock Exchange. Since its founding by Bob Diamond and Ashish J. Thakkar in late 2013, we have acquired, by way of four transactions, control of (or significant stakes in) banking operations in seven sub-Saharan African countries, including Botswana, Zimbabwe, Zambia, Tanzania, Mozambique, Rwanda and Nigeria, several of which rank amongst the fastest growing countries in the world. But where do they come into the equation with regards Mwana?
?
As if we didn't already know. After reading out all of his three week old state of the nation address instead of his opening of parliament speech MPs said the mistake had caused irreparable damage to both Mugabe and the country’s image internationally and demanded those responsible for the mix-up be relieved of their posts. Erm I think Mugabe has the responsibility for his error, though we should at least give him credit for still being able to read. Reminds me of Reagan going senile during his last term. Maybe they should replace the dozy wreck with a cardboard cutout and tape recorder.
Good to see a director buying and a decent amount of shares too, almost 7m. It looks like with the Chinese supporting the Open Offer in a big way there is quiet confidence in Mwana's prospects. Hopefully there will be more directors buying soon.
The low nickel price might be a blessing in disguise. It will allow them to make radical changes at Trojan, streamline it to a lower tonnage-higher grade operation that will be well positioned when/if prices do rise. The smelter is a complete joke, Trojan has never had the capacity to fill it. Why it was even started lord only knows. Interesting to see how the new owners will deal with this, especially re: the bond that was taken out to fund it.
Or maybe not... http://www.miningweekly.com/article/moodys-cuts-commodity-price-assumptions-on-extraordinarily-adverse-conditions-dimmed-outlook-2015-09-11
It's very obvious that Mwana's prospects are predominantly aligned to the price of nickel. If it starts to rise again as many analysts predicted it's a game changer, nickel was up 4.4% yesterday but from a very low base. Some say we're at the end of the commodity cycle, and if we're not there yet it shouldn't be too long helped by some Chinese stimulus. I believe 2016 will be a much better year for nickel and the long awaited technical analysis starts to play out (sdemand outstripping supply for the first time in many years). Re-starting the smelter would also make the economics more compelling but the nickel price is still the key. Executives at Glencore seem to support a recovery story as they dig deep into their very large pockets. I expect many to do the same at Mwana, our assets are still very good and timing is everything in mining. The other critical issue is C3 costs - these seemed to have been rising in the last 18 months when they were due to fall, this was an area which previous management under Kalaa never seriously tackled. If new management can get a grip it's another part of the recovery process. Re-starting Klipspringer looks like a diversification strategy and probably wise as they can't control the price of nickel. I will be taking up their Open Offer. Good luck to those who can afford to be patient.
Diamond revenues/profit are sadly not large enough to be be anything but a sideshow - certainly not able to compensate for the current cash burning in the main business units. This investment can't change the distressed fundamentals and turn Mwana into a medium-term going concern so 2.8m to tidy up the diamond mine so when the whole shop runs out of cash the next owner will inherit an improved asset paid for by PI's money. Not sure I'd want to pay to tidy up an asset I would never see the benefit of (Making a cash call to investors with the justification of improving a non-game-changoing asset sounds like desperation) The sad thing here is that if all the Nickel price forecasts from last year actually happened we would be laughing at $18-20k...... then China slowed, confidence in commodities fell apart and here we are. I really hope the outfit survives because of the assets - but unless operations can be cash positive it is questionable.
Your liberal use of capitals makes you appear as a ranting lunatic. Instead of claiming all those unknowns, why not read the circular. £2.8m of the £3.5m is to be invested in the diamond mine. The motives of the Chinese are questioned but what about those of ranting posters spreading lies on bulletin boards?
The cost incurred in actually selling the shares. 200,000 pounds Amount to be used for corporate restructuring. UNKNOWN Amount to be used for re-organisation + 1 off payments. UNKNOWN Amount to be used for general working capital. UNKNOWN Amount left over to try restart Klipspringer mine. UNKNOWN (WHAT'S LEFTOVER) Cost of bringing a flooded diamond mine to production. A LOT OF MONEY It was obvious from the outset, the market just wouldn't see any extra market cap due to the amount of unknown costs, and neither do I, and as the market determines the share price they devalued the shares accordingly. The BOD must have also known what would happen to the share price, but because the market basically controls the share price how can Mwana get the share price back up to 1.15p before the open offer closes? just maybe!! this open offer was never really meant for the small private investors, someone will make money one way or another out of this but it won't be us.
Just to be clear, my argument with Gorsuch concerns his statement that the issue of 367m new shares does not add value. This is a bogus statement because the shares add cash which, if invested in the diamond mine which then turns a profit, will add value. What we then come down to is an opinion and I have no problem gorsuch's opinion other than that he tried to present it as fact.