Member Info for addicknt

We currently have circa $40/42m in the bank. Why do we need a placing?

RK, I hope not, it's always fun to see a hedge fund screw things up so badly.

Kkkrrr, fortunately for you, and indeed the rest of us, our Board would not be happy and will not entertain such a derisory bid.

Fort, particularly in this industry. Small explorers who find a Tier 1 asset and then take it to production are as rare as hens teeth.

We should never forget the words of that ex-ceo of Glencore who, to paraphrase, said the business model of the majors is to screw the junior explorers. Our lads know this better than most and I'm sure they'll do whatever they can to avoid us falling into the same trap.

Let's hope no one takes advantage of the obvious sp weakness at the moment. We need this to be over 50p before a bid is even considered by our Board. Similarly, we need to do whatever we can to prevent JCC from grabbing hold of another large block of shares.

Medi, as killjoy says, it depends upon the nature of the takeover. There are numerous nuances which will affect the process, although certain actions have fixed deadlines. A Scheme of Arrangment has a different timetable.

When a deal is formally announced a document is produced which includes the agreed timetable, and although certain deviances may be allowed, the process is pretty much cast in stone.

If you're interested in this, full details are available from the Takeover Panel website and various lawyers also provide clear guidance. Mind you, I'm not sure this is of much relevance to us for the time being.

Schlem, thanks for this. An interesting summary of our position.

It discusses DV's background, but we should also bear in mind PS's experience and reach which, arguably, is more extensive.

And so it rumbles on. Each weekend the same arguments are repeated ad nauseam, despite the fact the two sides will never agree, or even agree to disagree.

We've just had the best couple of weeks for a very long time, and yet it's fecking wind turbines, solar balls and the rest which dominates the narrative.

Oh well, at least it means the rest of us can switch off and enjoy the weekend whilst the protagonists continue howling at the moon.

Stas, amusing, isn't it.

Pbow, there's a lot riding on these and subsequent results.

Fort, relative to OMI's market cap, it was as significant chunk. In fact, it was almost identical to their holding here i.e 9.4%. I'm not sure what you meant by being a benchmark for their divestment plans. It was a standalone transaction, as all of them have been.

Interesting to note OMI's sp has risen this morning.

Schlem, it depends upon who they sell it to. From my point of view, a sale to Jiangxi would indeed by a disaster - a sale to another miner not currently on the register would make life interesting. My guess is that if New do indeed decide to sell, our Board would like to see the shares go to institutions a la Orosur.

Q, none of us has any idea what New will do with their shares and, should they decide to sell, at what price they will accept.

I see Newmont have disposed of their 9% holding in Orosur to a number of institutions. This is part of their ongoing divestment programme.

Coincidentally, there's a new interview with Rick Rule on YouTube in which he talks about Newmont and how it's a much better company than it was in recent years. He also talks at length about Franco and the other royalty companies in glowing terms. If you think Rule is worth listening to, give it a go.

I wonder what Newmont is going to do here? We know there's a willing buyer for their stake, but does the fact they haven't sold reflect their ongoing interest, or does it mean they simply haven't got round to it yet? Do they want to wait until they've seen how our new team shapes up? How does their supposed interest in ExCo fit in with their plc holding?

Whatever their decision, it may have a pivotal role in defining our future direction.

Some cash for our stake in Bramaderos would be handy.

Lovely collapse in the fives, just like we were promised...again and again, ad nauseum. Oh, I forgot, no Tranche 2 in 2025. Nostradamus strikes again.

Indeed, Sid.

Can anyone tell me how much copper we currently export to the US? The figure has temporarily slipped my mind.

Q, obviously he isn't invested and is simply yet another of those truly weird people who hang around on this site trying their best to disrupt things. You really do have to wonder what goes on in their minds. They are very odd people who would be better off on X or FB, where they can happily spend their days howling at the moon.

Stas, which is exactly what I do. Hence the confusion.

Q, that still doesn't clarify the issue.

Eventually, the FSA site will catch-up and the definitive position will be published. As it stands, there are three possibilities: 1) the short has been closed. 2) it now stands at 10m shares, or 3) there are 10m shares available for shorting and the ActusRay position has gone.

Schlem, that's also my take, but like you I'm not sure. If we are correct and the site is to be trusted, it suggests the short has gone.