Member Info for addicknt

seanhunter, I seem to recall there was a person of the same name who died in a ditch defending Robert Terry at QPP. Indeed, that person spent an inordinate amount of time insulting me right up until the point the penny dropped and he realised he'd been defrauded.
If you are the same seanhunter, and apologies if you're not, perhaps your judgement is not all that it may be. Although to your credit you did actually apologise - unlike most.

You will also have noticed that River and Mercantile have reduced their stake whilst Killick &Co have increased theirs (they are buying on behalf of a client). This may explain the two recent large reported transactions.
The question is; who is Killick acting for?

I recall you mentioning this before and I'm not sure you understand the process.
If he wants to support an mbo he will make an offer to all shareholders and will need (subject to the company articles ) either 75%,90% or any such number as is specified, for the bid to be successful.
The 30% to which you refer is the percentage shareholding someone can own before they have to make a bid. In other words, once 30% is reached, unless otherwise permitted by the Stock Exchange, they have to make an offer to all shareholders.

Thanks again. I now have a clearer idea.

mister, thanks. But I don't see where any UK content arises. We don't make mining machinery anymore, at least not that I'm aware of and I'm struggling to think of anything else of a major nature. Diggers from JCB, perhaps?
It would be great if we were able to access the UK funds, but I'm not sure how. Obviously, I'm saying this without full knowledge, so it's simply a supposition on my part.

mistermeister, I don't think they will be. I'm pretty sure, due to domicile, the company won't qualify.

Native, it looks to me as if you've not been following events with regard to mining in Equador over the past year. To put your mind at rest, I suggest you do a bit of basic research.

runs what is effectively a vulture fund. My only fear here is that he'll take the opportunity of a seriously depressed price to back an mbo. And the chairman's clear conflict of interest will need to be scrutinized.

for asking, but why are some of you spending so much time arguing the toss over the virus?
You're at each other's throats for no reason whatsoever. None of us, including the experts, know what the outcome will be and this idle speculation is an absolute waste of time. Please don't spend your time pretending that you know what's going to happen...you don't.
And to be honest, we're getting enough of it on tv and really don't need it on here.

Rich3, as I suggested yesterday, he won't buy until he gets a feel as to the price he can get the interim funding away at. And I don't believe he's there yet.

none of us are enjoying the situation we find ourselves in and my only conclusion is that the market doesn't believe NM will be able to deliver on the timetable/promises made this week.
We can only hope he proves them wrong...and personally, I believe he will.

It seems some people are getting confused about the short selling ban. It is not market wide and relates only to certain Italian and Spanish companies.

I think you'll find this temporary ban applies only to certain Italian and Spanish companies.

The temporary ban applies only to certain Italian and Spanish companies.

Very happy for you to do so, Jerry. You can have mine at 75p a pop.

mogg, that's a good point. I hadn't really thought about the options and had assumed they were referring to either purchasing shares in the market, or subscribing for new shares in the placing.
Mind you, I can't see them exercising options at 40p.

The statement that the directors will be buying over the next 30 days, or at the time of the interim fundraising, was most welcome. But which will it be?
Clearly, they were allowing themselves flexibility and I guess their judgement will be based upon the prevailing market price versus the issue price of the new shares; which is a bit cynical, but makes perfect sense.
From our point of view, it would be better that they subscribed to new shares, in as much as it will help to get the placing done i.e demonstrating to the new shareholders the confidence of our board and also, it will be new money and not merely recycled shares.
The point is, we shouldn't be surprised if they don't buy within 30 days and should not take it as a bad sign.

Jerry, the point you make about the issue price is a good one and personally, I'd be surprised if it's achieved. Having said that, it's good to be ambitious! Still, it's all academic, BHP will have got their cheque book out before then! (I reckon if I say it often enough, it's bound to happen!)

colombo, I don't we will will have to.
BHP will bid once the DFS is in it's final stages.

MRE3; 4 weeks.
Director share purchases; next 30 days, or at short-term funding stage (I bet it's the latter)
PFS; Q3 2020.
DFS; Q1 2021.
Short term funding; mid-May 2020.
Conditional full project funding; 2020.

I wonder if they've produced this following the raft of shareholder complaints? Either way, it's most welcome and provides the clarity we've all been clamouring for. Now they have the simple task of hitting the deadlines!