Member Info for brookieboy69

@onlyprofit - it was quite obvious/likely that an extension would occur though, so (sadly) we can’t read much into the takeover price?

Hands up if you are trying to distract yourself, but are really just waiting for 7am and a potential RNS?

@KiJaHu

I haven’t fact checked what you have said, but I think it’s constructive comment. Ignore the professional shorter at your peril.

I’m more positive than this being a binary bet though - broadly, I think I could triple my money or more, or lose about 50%. The fact that Sidari have looked at Wood before seems, to me, to be a stronger chance of them making an offer. So overall I think this is a good bet, but certainly more of a bet than an investment in my view.

@JamesOxford

I will sound like I’m gunning for you, I’m really not, but can I also correct “ RNS will be made AM the next day in order to enable those who need to buy and sell to do so before the main market opens later the same day”.

The RNS will normally be announced before the market opens ie no one can trade before the main market opens.

Jamesoxford - But being a public listed company, Sidari can’t just “be shown the door”. They can launch a takeover whether supported by the Board or not ie make a hostile bid.

There are only 6 working days left to confirm an offer, or otherwise. From prior experience I suspect that they will ask for an extension - that’s not a bad sign, but some are after a fast buck and may be put off. The key thing keeping me invested is that I think it unlikely that they will walk away, and an offer will be at a significant premium to the current SP.

@Sharebel

No-one in their right mind is listening to you (or probably me), your recent track record........................

18 Feb, Wood Group: Strong Sell @25.88p. This "advice" would have lost you about 60% in 13 days.

20 Feb, EUA: Strong Buy @ 5.75p, then 3 Mar Strong Sell @4.5p. This "advice" would have lost you about 20% in 11 days.

The below beautifully highlights the need to do your own research, and trust no-on here, including me!

Sharebel - comically poor.....................

18 Feb, Wood Group: Strong Sell @25.88p. This "advice" would have lost you about 60% in 13 days.

20 Feb, EUA: Strong Buy @ 5.75p, then 3 Mar Strong Sell @4.5p. This "advice" would have lost you about 20% in 11 days.

I think we have a very rare situation. On the negative side, Wood need to be bought out to address some issues. On the plus side this isn’t just a takeover rumour - talks have been confirmed. And the most significant thing is that the potential buyer is coming back having seen the books only last year - if there was anything they really didn’t like then they simply wouldn’t waste their time. The only key sticking point is the price - we can all have a guess at that, but substantially higher than 35p seems incredibly likely. And of course there is a possibility of a bidding war, meaning say 80p+ is not ridiculous.

On this basis I have bought more earlier this afternoon, and happy to now sit back and wait. Obviously this is all just my opinion.

In my view the Tanzanian mining commission have asked for more info as the final part of the ML application (hence the short time to tender). So likely to receive the ML by next month now. This will then lead to the public release of the feasibility study and a significant re-rate (think 1.5p not 15p though).

I’m now buying.

I see Balanced Commercial Property Trust has accepted an offer too, but at a discount of only 8.7% to NAV. Shows that we are selling up on the cheap.

As it’s a recommended offer, you can assume that the alternative suitors are not going to counter. With the institutional holders in this, I reckon this will get voted through regardless of our votes. Very disappointing outcome.

You have just 10 mins to place your bets ahead of an RNS.

That 50m (shares!) trade this afternoon confirms to me that Cynosure Capital are certainly no long term holders. Probably see more such trades over the next week, so expecting downward pressure on the SP until they have cleared out, or until the EWT. At least we know where we stand.

Now that some of the heat has gone out of this week’s fundraise and acquisition, do we understand what’s going on/why?

My take is:

- the acquisition was opportunistic. Yes it fits the long-term plan, and yes it will provide an early income stream (but $2-3m is not enough), but fundamentally it looks a good investment and opens the door in the US

- the EWT update was only given to soften the dilution impact of the above, and was vague. The full EWT result was planned for next week, and only then will be know the true potential

So for me, nothing has really changed. My holding has been diluted by 10% but I now own part of another asset. The key thing is we are still awaiting the proper EWT results and this will either give a massive boost to the SP or not. For now I’m holding on influenced by the results being “very very very good”. I really really really hope they are.

Other’s views?

Any potential offer pushed out by another month. Think that’s probably a good sign overall (realistic suitors would have walked away by now), and could also signal that there are multiple parties involved. Just wonder what sort of premium (to current SP) will be offered.

Someone posted "Brilliant news, Blast off" this morning, and got 9 likes,

whereas some more useful and accurate comments received just a handful, or no likes at all.

So, don't worry if you are in the minority - we still want to hear your points, and you may be more right.

I don't think this acquisition was expected at all, hence the reason for the share issue was not predicted by anyone. What was called out by others was the unusual SP movement on Friday, and sure enough they were right (I wasn't). Seems incredible to me that the new shares would be issued pre EWT results, and the acquisition seems an unwanted distraction at present (unless the Tanzania results are thought to be non-commercial).

Amazingly these good part 1 EWT results could see the SP drop today, but I hope not.

Good luck all, and I hope the EWT results are in fact convincing enough to bring us all £££s

What a pleasure this discussion Board is over the weekend - it may also indicate who are the “fake” accounts with ulterior motives!

And I don’t understand the focus on the Fri pm price drop - there were only 2 trades at 1.74p, both time stamped after 4:30pm, total value £45k. There’s also a noticeable gap with no trades at all just before this, so it doesn’t look valid to me. I reckon the SP will be back up to 1.85-1.90 on Tuesday morning without an RNS. And with a positive RNS then 5p+

Thanks everybody for the point raised this weekend.

Which idiot wrote 2p+ forever