Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Shareholding is quite fragmented so they won’t get much traction with their negotiations. I am pretty sure more than 25% of shareholders are against this. It’s such a derisory offer.
Fingers crossed this may be just be the start of an auction
Just caught up with the RNS. Absolute disgrace. I only have a couple of million shares but will be voting AGAINST!!!!
Just wondering where they got the 18% stake from as not listed under shareholders.
They might have 5%+ from Shanta management team but where did the other 13% come from?? I wonder whether they picked all the stock up off ODEY when thye were forced seller for 9p?
If that's the case, then makes me think this is defo a 'draw out' bid to see what the chinese come in with.
13.5p is ridiculously low and should be at least 20p
The below table summarises the Company's major shareholders as at 30 September 2023:
No. % of Company held
1. Hargreaves Lansdown (Retail) 10.5%
2. Sustainable Capital 8.3%
3. Interactive Investor (Retail) 7.9%
4. Lombard Odier Investment 7.1%
5. Directors (Insiders) 5.9%
6. River and Mercantile Asset Management 4.9%
7. Canaccord Genuity Wealth Management 4.8%
8. SIX SIS (Custodian) 4.7%
9. AJ Bell (Retail) 3.4%
Total 57.6%
It will be voted out and in next AGM some of these board members may also voted out.
Good luck.
yeah great idea, let's sell some prime fillet steak for peanuts and buy ****e
This is either a complete stitch up by big shareholders or a master stroke to bring out another offer.
Most likely they know they can sell Shanta assets for 300m within 12 months and keeping that for themselves. So even if someone came in with 18p they’d want to scupper it as they know it’s worth 30p plus
So Yup need to find a couple of alternative junior gold miners to replace this with - any ideas?
Board should not have so hastily accepted cash but board saw a quick cash exit with all the trimmings. Time to move on and become a shareholder in another goldie like Condor Gold thats working up to a takeover possibly or Kefi thats maybe about to get financing. Exciting times in Junior gold miners.
This is disgusting and Mr Patel’s behaviour is ethically reprehensible. If POG hold over 2k for another quarter we would have a decent cash pile and, for a tiny amount, we would have the ability to double the production at Singida. Not to mention the huge potential of WK.
My hope is that this bid forces the Chinese and some other major to come out. The Chinese offered more when the company was in a much worse shape.
Maybe Eric was against this and was forced out.
I hold 1M shares and I’m voting against. This is worth AT LEAST 20p now
The offer is so pathetic, there is a chance the Chinese turn up and it’s a blood bath by poxy, agreed.
Either way, you can now buy for a guaranteed 5% return on the T/O offer, which is kind of mental in itself.
Personally I'm going to hold until mid-January or thereabouts to see if any other offers come out of the woodwork. The recent rise in the price could be down to this news leaking out, as usual...!
“ The 2 analysts offering 12 month price targets for Shanta Gold Ltd have a median target of 25.13, with a high estimate of 29.85 and a low estimate of 20.42. The median estimate represents a 98.68% increase from the last price of 12.65.”
How on earth can an offer of 13.5p be recommended when it has been valued at essentially 100% more. It seems there would be something seriously wrong with the market if higher bids don’t arrive.
Why wait a few months for an extra 0.5p?
Could make more on other junior gold miners in that time
Ketan Patel, a director of both ETC and Shanta Gold, said a poor valuation for Shanta and gold miners generally, a lack of liquidity in the miner’s shares and other geopolitical risks had prompted the offer.
Current pressures on Shanta's operating market are to persist for the near term, he added.
My thoughts: good to see an impartial director with no bias selling Shanta for what it's worth....! Geopolitical risks? What a rhetorical argument! Elaborate please!
Anyway, on a positive note, I have enjoyed taking part in the discussions on here. Generally insightful and polite. Not something that can be said for every board. I wish you all well with your other investments.
This CRIME that should say, this is no joke
sellers at 13p are just adding to the 'yes' vote. muppets.
these patel ****s need to be told where to go, don't let them get away with this joke.
Let's be having gold all time highs above $2100/oz by the vote in Jan - that should really throw the cat amongst the pigeons.
I'll be doing exactly that. Voting no, sitting on my hands, and buying whatever I can below 13.5p
Classic AIM, retail investors get shafted even when they pick winners. I'm done with this market after this experience
Koyfin and Trading View both have mid-20p share price predictions, for 12 months. Simply Wall Street is considerably higher.
I agree trek but that today is taking the proverbial for sure with everything stacking up just like boubou bear has just stated . The offer is truly contemptible given the gold being produced right now , the drilling results that are imminent , the gold price both now & in the future , the massive potential of WK & Shanta will be debt free and a cash cow to boot at the next update . U add in the CeO situ , the lack of news , the stalling shareprice where it almost beggars belief & then this derisory offer appears driven by an interested party wanting to take it all private by a global entity worth billions probably . It’s an utter disgrace and unbelievable that the company nomad is actually stating it’s a fair & reasonable offer as that is just plain wrong & an absolute joke . So disappointed with that today
Seen it so many times over the years... as soon as a company comes out of tough times and starts to look like delivering great numbers... someone picks them them off.
Shocking as the markets of today are so woeful at valuations that they create dire situations rather than doing what they should be doing and that is forward looking and pricing in future performance. Shanta looks in fine shape for an amazing 2024.
If then chinese don't step in and counter bid I would be very surprised. They may as well offer 14p for starters. This poor offer has to be by design to draw out better offers.
What if a competition decide to grab a stake in the next couple of months and get a holding over 30%, whilst pushing the price up?
I agree time to pull a plug on these muppets!! Such a gold cash cow given away on the cheap!!! My money is going to PAF from here… can’t believe I wasted so many years here of up and downs for 13.5p with gold flying and set to fly higher next year.