Member Info for Auson

TrekMadone,

They can cover with their own long position if they wish, but it is just that a bet.

bonker99,

Looks like we could be on for a Silver move to mid $28s then steady on upward. I think yesterdays spike then sell off was just the machines.

Sandstone,

Mui bien pedra aveila

Noel,

Are you aware of the current situation on the Crimex..I mean Comex ? I bet bonker is.

Sotolo,

Well it looks a lot like Biden might get in so higher Silver prices on the horizon. The price of Gold has been a different animal since April 2019 and the new banking rules. Since COVID with renewed demand from the major funds for Gold as a hedge the price of Gold should be underpinned. There is also this much talked about Bullion banks short position and a test or even failure of the Comex.

ptitbru,

This is only my take / understanding on things. The 50% + shareholder approval for the offer of 300p looks like it has been reached so Fortiana will make the offer for all the shares ( subject to Russian regulatory approval ) They need 75% of shareholders to agree to sell so they can forcibly buy the remaining 25%. If they don't get the 75% and someone wants to throw a spanner in the works I guess then thats when things could get really interesting.

Hi JGH,
Regarding the two late reported trades at 61.45 and 61.68p they would show as sells even if they were buys as they were below the UT price of 62 or rather the mid point between the closing bid of 61.4 and offer of 62. In my view there are two things happening here trading wise, Shorts are closing out so they are buying and a large seller is selling. As an experienced ACA might I ask your view of the intangibles here ?

Godders99,

So I take it you won't be buying anymore until January 2021 then ?

looks like It wasn't Goldman yesterday
ITV PLC Paloma Partners Management Company 0.62% 0.11% 10 Aug 2020

cyan2,

Just a thought would Navitas dislike the many times higher share price broker ratings ?

Extract 'In contrast, attaining 100% control in a
takeover requires acceptances from at least 90% of the shares
subject to the offer (so as to be entitled to compulsorily acquire the
remaining shares) and attaining 100% control in a scheme of
arrangement requires approval from a majority in number
representing at least 75% in value of those target shareholders
who vote on the scheme (together with the court's approval) (see '
www careyolsen com/sites/default/files/Public%20mergers%20and%20acquisitions%20in%20Jersey%20overview.pdf

Agreed. Theres a lot of shorts here and now looks like a good time for them to cover !

All other miners flying today HOC is up 13 % at £3.15 a share. They were 80p not so long ago.
I think the stage is set for an activist investor to take a stake here. I think we could be in for the worlds most painful slow rally to £3.10 here.
Its not unusual to see a stock trading at a slight premium to a bid although its a bit different in this case. We can but hope the offer falls through.

Woodstock1970,

The shareholders don't have any money ! and the market cap has been shorted to sh - - Its the bondholders and creditors who have all the cash Tony should and probably will lean on them !

They will likely throw what they can at this to keep it down so the takeover looks good value. Be interesting to see them hold it if POG rallies much above $2000 !

SauerKraut,

On form this morning I see Marsh

Gusto01,

Not today but it will happen.

Looks like a few of these funds happy to sell at 298 to 300 on Friday. Also can't see them being too happy with the minimal 4% premium offer price at a time when funds are increasing their allocation to Gold.

kenj,

I guess the hope is an aggressive activist hedge fund who specializes in this type of thing takes a stake ( underwritten by the 300p offer ) and tries to extort more out of the acquirer or holds on for the strong dividend and an improvement in shareprice. With the current outlook on Gold being hugely bullish I can't see why any hedge fund wouldn't be doing this.
An example of such a fund here
www CNBC com/2020/06/14/hedge-fund-elliott-management-shifts-to-elephant-hunting.html

Cheers Godders99,

Keep buying you must nearly have as many as Nigoil by now !