Member Info for Billions

Takeover rules are there for a reason. Transparency and timing. FSP bypasses that. Would have been great if there was an actual bid at the beginning which could have attracted other bidders and we would be wrapped up now.

I have done my research, have a 1m shares. There is for sure upside from the current level.

I just dont like the nonsense recycled posts ramping this to the moon. This is not fair for new investors.

The amounts we have mined to date are tidly, we dont know the plan going forward for the DFS.

The bod put the business for sale and are in the process of attracting bids. I'm hopeful for £1+ but that would be special. I expect the bod have a different expectations if Alexi is anything to go buy.

Some education for the sheep:
The formal sale process (FSP) was introduced to the UK Takeover Code (the Code) to facilitate sell-side processes in a UK public M&A context and to provide a limited exemption from the new tough ‘put up or shut up’ (PUSU) regime.

Potential target companies and practitioners have been wary of starting an FSP for fear that it might be regarded as a sign of surrender or failure by the existing management and most FSPs have been associated with financially distressed companies.

https://www.lexology.com/library/detail.aspx?g=886cfad0-7f5a-4577-87e8-9136cd83b835

FSP is the equivalent of a for sale board. Testing the water in other words hoping for an offer. Usually for businesses that are in trouble or want strategic change. Look at Renishaw, founders and largest shareholders are over 80.

A genuine bid situation is something completely different and we are not there yet.

Exactly compared to less then 1p the current price is like a jackpot for the bod. In reality, they don't want to mine and probably can't do it to full potential.

The FSP is a get out for the bod, bidders and the market know this so is probably also a reason why the share price is held back.

If you look at the industry. Mines are rarely operated by consortiums. It's just not practical and feasible.

Single and joint operations are preferred. If this was anglo American then maybe that would make sense.

Consortium is just being thrown about without any evidence. This a very unlikely. Most likely a jv operation if not a single buyer.

Very logical approach and a realistic end valuation. 90-180p is justifiable. So an average of 135p is where I put the figure.

But again all speculation, we have no sight of the feasibility study and proved resources.

Some people on here don't really grasp the magnitude of difference between millions a billions.

Thanks @ blearyman. At least we aren't the only FSP. But confirms my that they are not usually the obvious choice if you already have buyers interested.

Interesting blearyman... do you have a link? Agreed it must be before end of month.

Hope it's worth waiting for.

The psth spac target must be near completion. This is one of the more credible ones, if it is stripe this will be mega. I think PSH is a better route to get exposure on the cheap.

Well most recent Asda sale "auction" started in July with offer agreed and accepted in Oct. This is international sale with multiple bidders, 1000s of sites and employees and billions in sales.

Other examples if you want to take a look, hgm, kaz, sky, ARM. None took over a year and counting

I think the oil price strength will continue this year and potentially will spike higher.

I'm expecting BP to revert back to around 4-5 pounds again.

Mongooser I'm afraid it just doesn't work like that. Sibyane was a working mine with substantial profit it cant be compared to EUA.

Based on your sums, the combined Sibyane stillwater entity has 82m reserves and 477m resources should be worth 120bn. But is only has a mcap of 10bn. 10% of your valuati sounds about right.

Happy to hear your thoughts.

Some sort of deal will happen. It's just been too long to have nothing materialise now.

In reality, not sure why the BOD went for a FSP. Since we have apparently had approaches before the suspension it would have been a lot quicker to go via normal takeover rules. I have seen much more complex deals happen then this in weeks.

Lets be honest, It was an odd transaction.

The fact that the company was not aware is extremely strange and if it was done transparently could have boosted the share price.

Good to see the price has recovered now.

Indeed it's all speculation here and everything needs to be taken with a grain of salt.

People should make up their own mind. Offers a rarely at multiples of the prevailing price.

Said it previously. I'm heavily invested here. Just don't like the misleading posts.

Sibyane stillwater has a valuation of £10bn. Generate substantial revenue, profit and free cashflow. This is the starting point of where we could be in a number of years and after significant development and expense. I'm taking 50-75% discount on this. This gives a price of between 90-180p.

Top end on this is extremely best case scenario.

Exactly bushveld is a vast area. The comment about similarities has been blown out of proportion it does not just relate to our licence area only it covers the whole area around Eurasia rights.

£35 is approx £100bn. That's bigger than BP, who had £140bn in revenue.

I think someone needs to check the maths again!!