Member Info for BertieMC

To be fair it has bounced really quite high from these levels in the past!

Agree 100% re Hudson - they'll take every penny they can, but that is not everything - I honestly can't see them risking losing the licences.

Yep it’s certainly not an “oh dear we’re going bust we’ve all lost our money” - still lots to play for.

You’ve got to consider why Hudson would do this and I can’t see any other reason.

I don’t think so - I’d guess a delisting then low offer from Hudson for the shares they don’t have. I’m holding for that offer as I believe it’ll have to be higher than where we are now.

They're probably gonna take the lot, but hopefully we'll get some decent crumbs off the table!

Hi MickR, sorry yes I hadn't realised the July placing had gone through (per RNS 27th July 2018) - they've got through that £0.95m quickly!
If that is the case re the loan then there is absolutely no problem here regarding ongoing funding.

Hi MickR, I think the authority to raise funds via a placing was voted against at the AGM? Hudson are supposedly not replying to requests for drawdown on the loan facility per the RNS.

I wouldn't think so - Hudson are in control and won't allow another placing because they don't want to be diluted.

...In the meantime I'd expect they'll drag it out for as long as possible to shake as many out as they can.

As quite a few people have already suggested, I'm thinking Hudson want the lot - the Chinese are often very tough in business and will take as much as they can.

If this is the case we definitely aren't heading for insolvency (I.e. nothing) but more likely a low offer for the shares Hudson don't already have.

Persistent moaner - filtered.

I've found translating the document virtually impossible due to the conversion from pdf to text and I can't see anything about bankruptcy in it. Section 14 seems to cover change of title and starts:

ARTICLE 14 TRANSFER AND CHANGE OF CONTROL
14.1 Operations requiring ministerial agreement

(a) it is agreed that only the transfer or assignment by the Company of the Mining Concession or its rights under the Base Agreement and / or its the exclusion of any other operation will be subject to the approval of the Minister.

Which seems to suggest the minister would need to approve any change in ownership of the licences???

Dezboy, you may well have nailed it with your predictions last November.

Out of interest, how did that offer on the shares of Vatukoula Gold Mines compare to the market price towards the end?

Hopefully SVS's 8.72% gives them enough clout to make sure Hudson don't get it for nothing under that scenario.

Don’t be daft. If you play the game you win some and lose some.

I'm guessing either Hudson want the lot, or the board are suggesting we could go bust to force a deal with a third party.

One way or another things are coming to a head - whatever the outcome it's sure to be an interesting few weeks.

To be honest I’m not clear of the process that would be followed under the buyout scenario - if they are majority shareholder it seems they can vote anything through?

Sadly I think they’d rather show the Chinese they are ready for Chinese investment.