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Take a scroll.
and what does quindell have to say?
(I meant existing Signature shareholders of course)
I assume one reason why Signature would list is to give existing shareholders an exit - it's not always about milking the market for more and more funds (though of course they might well do that too).
HNR went through a similar RTO process and that took best part of a year iirc. Can't see it being less than 6 months to be honest. Not had time to crunch the numbers and probably won't bother, it will be what it will be I suppose and I'm so under water with this share anything will be a bonus for me. I assume Signature are getting gtd fund raising from this RTO but otherwise I'm not immediately seeing why they are bothering, esp. as they have already done a lot of work on their assets.
Likely to be several months in my opinion, I'm not bothered anyway if the RTO goes through we will have a portfolio of gold tenements in a proven jurisdiction and we had first movers advantage with regards to IRGS, If you check out the credentials of the members of Signature its astonishing, every aspect from resource, to funding to development has been tried and tested. These are massive multi million ounce targets that will take us to a pricing point at many multiples of our current share price, just remember Signature holders will be given shares in STGR using a valuation of 2p per share and not the current SP of 1-1.25p which really does minimise dilution for what we are getting. Don't forget this share based acquisition does show they have belief in the future prospects of our STGR listing. We already have cash in the bank and are due another payment next month from Bass, so we will only need a smallish equity raising to fully fund the option agreement AND the RTO of signature gold. Win Win situation, the only negative posters at the moment are those that have bashed this share over the years and those that want to be invested here at a real turning point for the company.
How longs the wait gonna be; that's the question. And what will it reopen at??
Let's hope this 'pans' out well in the near future (and we find loads of gold !)
Stratmin Global set to buy specialist Aussie gold explorer 02 Feb 2017 As has been widely reported, Stratmin has been mulling various opportunities across various industries over the last six months. Stratmin Global set to buy specialist Aussie gold explorer Signature is a specialist gold explorer StratMin Global Resources is poised to buy specialist Australian gold explorer Signature Gold Ltd after signing a binding heads of agreement in a deal worth over £9.5mln. As has been widely reported, Stratmin has been mulling various opportunities across various industries over the last six months. Signature's portfolio was valued in December last year at A$21mln or around £12.75mln and consists of a development pipeline of at least half a dozen projects. It's focused on what's called large-scale intrusive related gold system assets in Queensland. Significantly, Signature also holds the option to acquire the Kasperske Hory gold project in the Czech Republic, which is currently owned by private firm Elbrus Resources Ltd. Elbrus is controlled by mining industry executive Gordon Toll, who founded ASX listed Fortescue Metals Group - the world's fourth largest iron ore producer. This high grade deposit, says Stratmin, has an established initial 1.5 million plus ounce JORC compliant resource with an average grade of 7.29g/t (grams per ton) of gold. Signature's portfolio also benefits from an Australian government tax scheme, which provides a cash rebate to the firm of 43.5% of all qualifying expenditure. Stratmin aims that Signature will become one of the world's lowest dollar-per-ounce of discovery cost gold exploration businesses. The terms of the deal consist of an option fee of US$250,000 payable on signing the heads of agreement. StratMin will issue shares to the value of up to GBP9.5 million to Signature shareholders in two tranches. The first will be £5.5 million at 2p a share. The second will a further £4 million in shares upon completion of a JORC 2012 compliant resource on Signature's lead project. Notably, Stratmin director and chief executive Brett Boynton is a director and significant shareholder in Signature, Stratmin pointed out.
The 1.5M JORC resource you mentioned was an option agreement that Signature has, and in my opinion we will also be acquiring that asset to add to the portfolio. Our potential tenements in Australia are literally next to big boys Gold Fields and next to the giant Mount Morgan deposit. Im very optimistic for the future here :-) I did say this would be very similar to the Project Icewine's affect on Tangiers Petroleum, and we could very easily follow suit of Solomon gold. Fingers crossed this RTO goes through, everyone will be scrambling to get on, and remember Tranche 2 payment will ONLY be given to shareholders of Tranche 1 who are still shareholders, so we are building a very stable group of core shareholders, and this drop in share price has been beneficial in a way as the weak holders have been weeded out as such!
This is a high grade IRGS deposit with an established initial 1.5M+ oz Au JORC compliant resource with an average 7.29g/t Au grade. Valued the Signature portfolio at AUD21m (approximately GBP12.75m). Under the Australian Federal Government R&D Tax Incentive Scheme, which provides a cash rebate to the Company of 43.5% of all qualifying expenditure, giving Signature a significant cost advantage in development of the portfolio. It is StratMin's objective for Signature to become one of the world's lowest dollar-per-ounce of discovery cost gold exploration businesses.
This is fantastic news, Signature's portfolio is very very exciting with multi million ounce gold potential in a safe jurisdiction. Share based acquisition, with the majority at 2p per share which is a massive premium to the current share price of 1-1.2p! Well done all those who kept the faith for the past few tough months.
Well at least STGR won't be thrown off AIM if this goes through. STGR get a portfolio of non-producing assets for a c 40% dilution (after Tranche1) and will be diluted again following Tra£3.65nche2 and subsequent equity raise to provide the £2.2m budget + £1.45m Kasperske bankable feasibility and no doubt millions more to actually commercialise it. Still something is better than nothing.
Cheers Jumbo. Very magnanimous of you. Currently sitting on an 85% loss and had written these off. Not sure if I'll get it all back but let's see. Thanks for all your input.
For you guys who stayed the course and I hope you see some decent recovery on your portfolios. Just ask yourself why did the derampers turn up last week? The suspension is excellent news IMO as it has locked them in now - if anyone gets an offer for a private sale via their brokers during suspension do let this thread know. It will confirm my suspicion about how this got screwed into the floor. Good luck everyone - yes I'm a tad jealous that I sold out but I've had a good run the last few months and if anyone you guys here deserve some reward for your patience.
RTO!!
I agree with you, Brett does seem to be a man with a plan and there does seem to be some good plays in Australian gold with it being a safe jurisdiction. Corporate costs are being kept to a minimum, this reminds me of Tangiers Petroleum after they got Project Icewine and changed their name to 88E, if we get a gold asset with a multi-million ounce potential we could be in the money. This will all be built on sentiment post acquisition and the proportion of cash/shares used in the acquisition is vital - if this is predicamentally share based it speaks volume for the future direction of the company.
Been here a while so kinda used to it haha. End game with Brett still fills me with confidence though!
Not nice watching this going down and down and down, with my heavy buying at 1.5p, I have only just been able to bring down my average to 1.45p :/ This needs to stay above 1p for our sanity's sake, or at least mine!
I think we can all agree on, in this cess pit of a market place, where subterfuge is the norm, is that THE VAST MAJORITY of PARTICIPANTS are here to MAKE MONEY. Sure, we all have curiosities, some of us have personal grievances (I've lost a lot of money - but I blame what I suspect to be massive unregistered shorts and cheerleader-derampers for the failure under Brett and Shishr to turn the mine around. Yes, the seeds of failure were sewn by two previous CEOs who failed to get the mine up to production, but I bought in big for Brett and Shishr)... So some have grievances, and are driven by a desire to redress those grievances, but the vast majority of investors, and also POSTERS on an INVESTMENT FORUM are here to make money. They are here to cheer-on their investment. Or short. I like to see things in black and white. I classify every negative poster as a shorter or a deramper looking to get in lower (the latter is clearly not applicable with STGR right now). It's that simple. And how wrong am I? How wrong can I be? Because if we agree that the vast majority of participants on an investment forum are here to make money we agree that the negs have an interest in a lower price and the rampers/positives have a vested interest in a higher price. The discussion here is somewhat academic, but a couple of posters earlier seemed to suggest a good company can survive the shorting and also that a company should not make enemies of the financiers. Think about this for a minute. It's exactly what I have been saying all along. A grudge short, ie an abusive short in SEC terms, can kill a smallcap. The share capital can be doubled by shorters. They can sell short into most rises and kill the rise, the punters throw in the towel, the spilled shares are collected at a loss and the shorters profit. Given naked shorting is still legal and does still go on it's actually worse than that. Covererd shorts limit the effective share capital at twice the authorised share capital (because every short has to be covered by a real share). But naked shorts put no upper limit on the effective share capital. They can kill *ANY* rise. I'm not saying the BOD even under Brett didn't make mistakes, but my grievance is that they were never given a CHANCE with Lohorano because the select few controlling AIM and AIM finance decided to make STGR pay through the nose for any new finance by depressing the share price through shorts (plus I believe killed sentiment with deramping). Given this situation, Brett sought out the Bass deal. The initial transaction looked good on paper but wasn't good enough for BSM financiers because they didn't control the asset. The second deal didn't look so good but was OK by me. How they ended up with the discount payoff still baffles me. But I digress. The derampers here - are here for a reason. We all are. That reason in money.
You make a fair point about Arminius, and the unicorn part was in reference to the mysterious nature of your losses, its easy to talk the talk but everyone doubts your claims in all honesty! AIM loves acquisitions, sooner or later we will get the acquisition we need and the SP is looking pretty darn terrible in all honesty but fingers crossed within the next few months things will change.
Well said Greenhills! I've lost a load of cash here as well and it's clearly an absolute dog of a share. Arminius has no credibility after is incessant almost perverse ramping of this share. If he actually believes the stuff he has posted over the years and has the holding that he intimated then I do feel sorry for him as he is going to be tens of thousands of pounds down. However I actually think he's the worst type of ramper and has probably done alright out of this.
Hi quindell - the thing is: How do I know your word, or for that matter any other anonymous poster's word on these boards, is valid? Answer: I don't. So it's not really worth the time and effort on my part to indulge your momentary message board desires. For all I know, you may have no intention of keeping to your word, and therefore why waste my time. At any rate, giving one's word on these boards can never be binding, and besides I figure that if you want to support a charity with your money you're free to do so, and I'll support any charity I wish to give my own money to, with my own money thanks very much. If on the other hand, you have as much money to throw away as your offer suggests you have, then I think that's revealing on here, because it explains your clearly very casual approach to your investment, capped off by your giveaway "lovely jubbly" post the other day......... For those who came across Stratmin a couple of years ago, the timing couldn't have been worse, and this together with the fact that we had an unusually high level of ramping intensity by one poster on a literally daily basis on here, either sucked in people too far, or interfered with what would otherwise have been their likely choice of selling up earlier. A lot of people here, fewer now but a lot still, got in at the 6-10p level, many going in big at around 9p and then topping up all the way down, rather than cutting losses earlier. What they didn't do was be lucky enough to come across Stratmin at the lovely jubbly pleasure night down the casino level like you might think you now have. It may surprise you personally, quindell, that anyone could lose such a sum of money on investing in a company such as this one, but it doesn't mean that such a person is as you kindly put it full of unicorn shyte [which is the strangest expression I've ever heard btw.] I lost serious money on here, at least for me it was serious money, and I suspect for most others it would be classed as serious money too [£133,888.54] and it was due to my own foolishness resulting from a set of life circumstances and my own temperament
So monkeybusiness - it looks like Arminius has been reducing his holding here radically in order to get into HUM [which by the way won't be doing much at all until at least Q3, long wait and far too early to tell price of gold] Funny how Arminius seems to have developed a sudden liking for gold......is he related to Brett I wonder? g
Greenhills you are full of unicorn shyte...... if you prove with a copy of your trades after going through your trading history that you made a £130,000 + loss, and post proof of it on here I will donate £1000 to a charity of your choice. You have my word.