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To every shareholder, if you want +20p then you have to hold onto your shares and vote against. I'd also strongly suggest you write emails and make calls to the company and Nomad expressing your disgust and this as an obvious stitch up. And the fact we haven't received any assays that are sitting in a lab whilst the company is recommending an offer for less than our sp when the last 2 x approaches were made (ands we didn't have a second mine). By all means state that na offer for 13.5p has been made and rebuffed, but to recommend...? Absolute C@NTS!!!
I suspect the issue lurking in the background is Ketan Patel. His business and political contacts will be crucial to be able to operate in Tanzania. If he is not on board or wants something else he is in an ideal position to get it. Perhaps that is why the two big shareholders are getting out.
Pedro that's just plain dumb. You sold rather than taking 13.5p at the very worst? And you're selling to the same greasy c@nts who have made the offer. I've also looked into SRB and it's nowhere near as good as SHG on just about every metric.
I am disgusted with this offer,,,,,I was going to hold in the hope of an increased offer....but sold...as this could drag on for months and maybe get nothing more....Too many good opportunities to have capital tied up....for goldies SRB is a screaming buy...Chucking off cash and with huge upside....was 115p 3 years ago,now about 36p,despite the gold price and cash in bank getting bigger everyday.
Yes, but they are doubling down on Shanta exposure many times over. I think that they have been planning this for some time. I suspect they wanted to see Singida up and running to derisk their position. Note that the confidentiality agreement kicked in at end June, the first month of Singida commercial production.
The three bids last year were no doubt very unwelcome. It would be interesting to know the indicative bid prices - which were rebuffed as being significant undervalue.
What do most expect with the stock mkt its run by legal mafia
The last full broker note I have access to has from a few months back:
Target price - 21p
Based on POG average of $1800/oz through 2023 falling to $1675/oz in 2024...
This year is $1950/oz and entering 2024 above $2000/oz! They are blowing the metrics for 21p out of the water and now mgmt are sneaking through 13.5p sale?!
This is without doubt one of the most disgusting and obviously corrupt things I've ever seen on Aim. I'm sitting here wondering if it's even happening, and whether I'm having some sort of f@cked up dream...
How in f@ck's sake is any gold company that's debt free, throwing off $80-90m EBITDA @ $2k gold, with millions of defined oz's let alone the millions more still to be added, VALUED AT £142m!!! And the fact we still haven't received any assays on the highest grade +1m oz mine in Africa, and potentially a super-pit resource in Sing...? How in god's name did we knock back offers just 1 year ago for being too low when our sp was higher than this offer? That's without a second low cost mine (running better than forecast)??? And we've also invested how much more money since then??? This cannot be real. It's one of the worst examples of obvious corruption that I've encountered on a UK listed company.
And the article mentioning 'struggling Shanta' - Wtf???!!! This is after all the other articles mentioning Shanta is flying...? Alongside Gold flying!!!
I note Saturn is a Tan based group - Have the Tanz government basically said you take the offer or we're going to take the lot off you...?
I've got 5m shares and I'M VOTING AGAINST. I suggest everyone here makes a phone call to the Nomad and writes emails that are as derogatory as this offer. Disgusted beyond words.
Now for sale below offer price. I wonder if this is a Shanta gold shareholder IQ test.
A year ago we were not producing, indeed didn't have the capability to produce the amount we are now, yet the sp went to 15p. Now we are producing and are debt free and are offered 13.5p...something smells.....very bad...
Crazy really that one of their jobs is to act in the shareholders interest but it's there in black and white that they are selling the whole company just because there isn't enough liquidity for them personally to sell out without impacting share price.
Disgustingly spoilt attitude, we should be in it together, not having them working against our interests to further their own
My interpretation of that comment is get your bids in for Shanta now.
Ketal owns around 4.25% of the company and you can bet Bidco (like the name) is snapping up shares getting sold now.
Basically he should have just said in the RNS, here is a pack of bacon and a few nuts now go do one peasants
it would have been nearer the truth
What a load of shiite that article! Is any part of it remotely accurate?
"Struggling" lol
After Shanta rejected two offers from different companies last year for being too low, the company has seen interest recently from Chinese State-owned mining company Shandong Gold Group and Kyrgyz exploration and development company Chaarat Gold Holdings.
What percentage of the company does Patel own?
Whole thing stinks
"our objective is also to provide liquidity to shareholders to realise their investment for cash at an appropriate premium"
have issues with his use of "appropriate" and doesnt he know we could just sell to realise our investment for cash ?
does he think we have an IQ of 5 or something ?
Article needs rewriting
" said Shanta’s director, Ketan Patel, who also serves as a director of Shanta’s parent company, ETC Holdings."
joke of press comment
****ed off
First line of that article....
"Struggling East African gold miner, Shanta Gold is set to be bought up and have its AIM listing removed"
Really? Are they paying off journos now?
Https://www.msn.com/en-gb/money/other/shanta-gold-latest-company-to-leave-london-s-markets-after-142m-buyout/ar-AA1lMrGu
Read the end.
And was the "delayed" lab results really quite convenient ? was the hunt at a snails pace for a new ceo also super convenient ? the ball mill (even though awaiting new resource updates) also part of this ?
you decide
Even if you wanted to upgrade your hotels and needed $US..........gold is money and all else is credit........the founding director of 20+ years ago...Mr Patel.......he knows what gold is.......and what Shanta's assets are.......
......there would be other options......if all was above board...IMO
Lol, when I saw the headline and share price I had assumed that Shanta were buying something. I was very confused when I first started reading the RNS........