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Quite a markdown given there are less than 100,000 traded.
Looks like there will be another RNS for the balance. This should be positive for the SP as it gets UIL out of the way and their drag on the price.
Part of this is definitely UIL selling their remaining stake of 16371942. They have recently been reducing their holding, and with their regular sales probably helped keep the price down. Another big holder must have agreed to sell as well. Whoever has bought must be close to the automatic bid trigger.
Price has been slipping recently. Fall this morning might be because of large sales at the close yesterday. Possible reasons for the general fall - big seller in the market; Candy Bros current litigation; the problem at the Ashford College site; another of their sites there is a lot of local opposition
Perseus confirmed that the warrants can be exercised at any time. So there is no set timetable. Someone somewhere is playing games.
Rfarfa, it might be that in your case it is a technical matter related to ISA's. I don't know. Not good though the lack of response. Reading on Hot Copper forum that some posters think the share price is being manipulated at the moment by big institutions. No surprise there!
I emailed Perseus 5 days ago about this warrant announcement and so far heard nothing. Not a good sign that.
The news from Australia overnight of the huge placing probably fits in with this. A message goes out from the Registrars to get as much money in as possible and not to worry if it is not strictly true. It seems that quite a number on the Hot Copper discussion forum have doubts over the quality of the management. I emailed Katharine yesterday and an automated reply came back saying she had now left, but could be contacted on her personal email.
Bad news with Katharine Sutton having now left. I hope Perseus are not trying to bounce people into exercising their warrants as there is an announcement that originated from the Registrars saying warrants need to be exercised by 5th July. Does that suggest they are desperate for the money?
Must be difficult now for them to find any other sources of bad news!!
No, its a done deal. After the court acceptance on Friday this was planned to suspend trading
Perseus up to A$0.47 today, now above warrant price
Must be a good chance of this moving back to the 55 level in the short term, despite the apparent large disposal today Shipmate
Key words in the announcement that he expects that it will deliver 'significantly stronger economics.'
At what point should the directors withdraw their support for the offer? Being structured the way it is there seems limited downside for the buyer and its all falling on the seller.
We all know that whilst AMA has strong assets in the ground without the gold price helping us current holders are unlikely to benefit to any great extent, but are events aligning to make gold attractive? The falling oil price is making motorists happy, but is causing some producers growing grief. The Saudi's announcing a range of revenue raising measures and then the executions perhaps to deflect attention from the economic pain, but that creating tensions with Iran. China with all sorts of unknowns about its true strength, and the wave of corruption arrests. Russia with its economic pain and anger over Turkey. You just wonder whether 2016 might just, perhaps, be a turning point upwards for gold.
Great Christmas Present for all long term holders. With the oil price heading south rapidly it seemed like HDD might follow suit, but this announcement changes the whole landscape for the company. Happy Christmas Everyone
One way to try to thwart them is buy a million
Everything rests on being able to finance the Yaoure mine. At present they don't have the money, and the various options available are likely to lead to existing shareholders getting only a small amount of the value unless they stump up the financing themselves. Putting to one side the financing issue, these shares even on a conservative valuation could be ten times the current price. But everything comes back to the financing. In a perfect world gold rises to a level by which Amara could sell off Baomahun to pay for the Yaoure mine. But longstanding Amara holders know timing has not been favourable for the company.
Now the company has got back to being a developer perhaps Algy might come back!