Member Info for BwanaMakubwa

Until it finally gets taken out.
I am not prepared to sell any until 70p (although I accept it may be taken out at 50p plus at some point).
At 70p I would sell 20% and at £1,I would sell another 20%,thus holding 60% until I feel the super cycle in green industrial metals is peaking.I am a very serious believer in the super cycle (which I believe many have underestimated) as I am a serious believer that institutions will need strong ESG credentials in order to make investments going forward.
I still have more shares to buy depending on cash availability.

As many of you point out we will probably be taken out in the next 2-3 years-maybe wishful thinking, but I really hope not.

Now as it is Saturday-if any of you want a new idea-look at PRE.Angolan Rare Earths with a processing plant to be built on the Humber.Angolan sovereign wealth fund owns 23%,management look very credible and are heavily invested.Currently delisting from ASX which completes 23rd Feb,so huge Aussie selling pressure depressing the price.I have built a large position and will add further.Have a call with the Chairman on Monday which I will write up on PRE Board assuming he gives me permission.
The reason I have not completed my HZM position is because I diverted most of my NCYT proceeds here to take advantage of the Aussie induced technical weakness.

Well that was a pretty lacklustre week and today down 2.6% on a 2:1 buy day.
With the odd exception I suspect most of the buyers were PIs like us who see the value down in the low £8s-and we all know the current valuation metrics.Unfortunately many of us are now full or lacking spare cash.
What is needed now is fresh buyers-Institutions,Family Offices and UHNWs (Ultra High Net Worth).This is where our friends Numis and the IR department should be coming into play.Calling institutions, explaining the investment case and value and arranging meetings between key institutions and GM plus our new CFO.Ten well targeted meetings at the right institutions could generate £25-50 million of buying interest and take up a mere 10 hours of our key executives time.
I fear however, they don't get this.In which case M&A teams at GSK,AZN etc will do the simple maths and see an accretive, bolt on acquisition.On this basis do not expect a knockout price-we may get £15-£17 a share, whIch I expect most people in their heart of hearts would gladly accept (even Porky!!).

Come on guys-I am very long, but equally frustrated by the time this is taking-James is allowed his opinion.Anyway you cannot short this as there is no institutional borrow.You can do a spread bet, but that does not effect the underlying market.We all know the licence will arrive and the recent Barrick settlement is good news for all foreign mining investors.Exceptionally cheap share-will be worth the wait.

Last day of trading on ASX 19th Feb-after that and CDIs will automatically convert to PLC shares traded on London.

..there are any UK institutions buying in yet.If not they will come.

Flavour-if it is the same as yesterday there is not much to buy-hopefully all the loose holders are now out-fingers crossed.

I have only been here since September and was well aware of the management's reputation before buying.However,I felt the value was too good to resist and bought a reasonable position.I understand LTHs mistrust and jaundiced views and genuinely sympathise. However, as someone pointed out it is much easier for new buyers to be less sceptical and I am.They have acquired very good assets at an excellent price and will be pretty determined not to f..k this up.I am really not concerned yet about no announcements-they will come.I own three other resource stocks in good size and their announcements are also all overdue.Keep faith guys-we should be rewarded and if not that is probably the end of Majid and Graham.

Remember they have told us we are going to get news on Vermelho in the next 6 (actually now 5) months-we just do not know what it is.I am reasonably confident that it could be a development partner.They have "incoming" on V.

Ivor 20p $50m
600Thieves 19.5p
Flavourshaker 15.0p
Brisk 14.0p
Theaeo 13.0p
Rover62 13.0p
VauxhallViva 12.5p $85m (500k new shares - noting the +20m needed for upgraded EU RKEF)
Caledonite 12.25p USD78m
djryan777 12.0p Equity 75 million rest made up of pre-paid amount and credit for equipment about 70% debt.
Bwana 12p $60m
Ericb 11.0p
Nthoftheriver 10.5p
ilfc4life 10.0p
Nagyielad1 9.9p
WillieB. 9.8p
SeanT1967 8.5p
craigieboy1 Equity price 8.5p -total raised USD $80M
wasarunner 11.8p USD 60M
SoundBuy 12p USD 60M
D220 14.4p & $75m

Bullish Ivor-like your style!!

Well with their environmental record we could teach them a lesson or two....

Obviously your call Rupert,but I would be buying into this technical selling.You will not really care if you paid 79p or 93p when the share goes to £5 plus in 3-4 years.

By which time they would all have sold and the shares will be rising rather rapidly I expect....

Was a what did they bid you for 1m?

Apologies "Institutions"-bloody spellcheck

North-we know that they are now actively marketing to institutions and have had strong feedback.Think volumes have been been too thin for a TR1 yet.
On another point-if you are right on the fact this BB holds 15% (that was also my guesstimate) and most of us here are LTH "investors"-the shares are actually very tightly held.It is going to be hard for Institutions to build positions until after financing when we will justifiably get some of the very LTHs taking some profit.

Same here-finally got 50,000 after putting in a limit order above the offer. I wanted more, but just too hard today.

Picked-always enjoy your posts, but on this one I have to 100% disagree.
Your statement "Offers don't come in at what you think it will be worth in the future, they come in at a price the majority of shareholders will take today" is undoubtedly a fact. However, I cannot see management, Teck/Glencore/Orion and the majority of PIs accepting such a derisory bid. Management have spent the last 12-14 months putting together a very complicated deal in very adverse conditions-I really cannot see them accepting 15p after all that work.
Much more likely we get a partner on Vermelho and start the development process on both mines. I agree bids will come in, but will need at least 50p for shareholder approval-our assets are just too strategic and valuable. Personally would want 70p a share, but accept I mat be being greedy.

Totally agree Jimmy and Luke.
HZM is a bugger to buy this morning-no "at best" trade and have missed 2 limits so far....

600Thieves 19.5p
Flavourshaker 15.0p
Brisk 14.0p
Theaeo 13.0p
Rover62 13.0p
VauxhallViva 12.5p
djryan777 12.0p
Bwana 12p $60m
Ericb 11.0p
Nthoftheriver 10.5p
ilfc4life 10.0p
Nagyielad1 9.9p
WillieB. 9.8p
SeanT1967 8.5p
craigieboy1 Equity price 8.5p -total raised USD $80M
wasarunner 7p

I love the way our two biggest holders are so conservative on the price!! Good constraint boys!!

Banal-This is very Barrick specific and is a very long long running dispute from when Barrick owned a minority position in what was Acacia mining PLC.I cannot remember the details, but they got into a huge barney with the Tanzanian Government who demanded a $1bn of tax. Barrick eventually had to buy Acacia and it looks like the dispute has ended-which is a good thing.