Member Info for addicknt

One thing is crystal clear from the RNS - they've been in detailed conversations with BHP and NCM, which, to my mind, is a good thing and in keeping with all recent suggestions.

I can't see the price anywhere (obviously I could have missed it). It specifically says the pricing will be made at the discretion of the book builder, which is Ingo. So I'm not sure where the 25p comes from, although it could easily be correct.

rob, where did you see the pricing?

As we've speculated, correctly as it turns out, this placing is being done to obviate the need to upset our main shareholders by taking up the remaining 50m Franco offer.

Never let it be said that these blokes aren't capable of surprising us.

Fukurokuju, all good thanks. And yes, I've got a few in here. Seems like an interesting punt. The next GGP?...only with copper this time.

Anyone else in CCZ?

lootgaloot, you may want to have a look at how dual listings work.

DBW, possibly because they have far more results than have been made public?

rcgl, no, I don't believe you are thinking about this incorrectly, but perhaps it was simply a case of delaying the inevitable? If we'd seen some sensible accretion of value it would have been deemed a clever move - but it hasn't and in fact led to significant disruption, which, as we all know, the market hates.

rcgl, if you believe, as I do, that we will not run with this independently, then an equity raise is inevitable. Whatever the circumstances I see us ending up owning a minority of Cascabel or none of it - in other words, we will sell it. There are no circumstances I can envisage whereby the current equity structure will pertain all the way to production.
And whilst I agree with you in some senses about the 'shot across the bow', we all know what the result of that was. Some may not have liked the consequences, others were perfectly happy. I wonder how NM sees it now? Does he think he made a mistake he now regrets, or is he happy with his decision?

tucson, as each day passes we are getting closer to positive news. Put your worries to one side and focus on the big picture. A good start is to read the article RK posted yesterday...if you haven't already done so.

When you read the Mining Journal article in its entirety, it's difficult to understand why our share price is where it is.
The only issue I have with it is the observation that the Franco deal may make us 'less attractive' in the eyes of some bidders. Having to repay the $100m, which is what a bidder would want to do, is absolute peanuts in the context of the value of our assets and in BHP's case, represents very little of their free cash flow - but they would take it into account when valuing the business.

Thanks for posting RK - very interesting.

Jezzo, the problem that people who get 'bored' will have is that the company has a habit of being pretty good at keeping things quiet and springing surprises (both good and bad).
We know Porvenir is due in a couple of months, but we don't know exactly when. And a jv or two could be announced at any time. If punters aren't holding, they'll miss the boat.

RK, even 7m represents a very small value and given that the largest buy I saw ( obviously I may have missed some) was just under 400k, it doesn't look like your hypothesis stacks up.
Believe me, I'd love to see more institutions come on board and am sure the company is working hard to that end, but right now it looks as if it's retail investors - and that's certainly been the case over the past two days as private punters cash in their recent gains.

RK, yes but there's no evidence that it was successful in persuading people to invest.
From where I sit there just haven't been enough significant purchases to suggest institutional buying.

RK, several times recently you've referred to buying by institutions; what evidence do you have for this?
There have been very few largish purchases and virtually all trades are very small, which to me, makes it look like retail investors.

Despite being one of the guilty parties, I thought this was a very funny post Cov.

Bozi, you are absolutely correct and thank you for pointing it out.