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Sorry for any confusion
Put the SA operation on care and maintenance until the authorities get their act together and issue the necessary licenses for the gold contained in the spoil heap. Expand operations in SA since if they can make money out of SA consignments on Ghana how much better would the money be if processed in SA itself.
I rather think they'll need something useful to say a little bit earlier than November. Like before when their AGM is held.
Like I said 2 days ago. Vote against all resolutions. If enough of us do that maybe the Board might suddenly remember that we are still in the majority and might need communicating with.
It's looking increasingly like a billionaires plaything and as we all know they are like spoilt little children. They don't like to share...
Generally the accounts need to be produced first. The company has until 6 months after year end to do this.
Strictly speaking you're confusing non dom with non resident.
I've bored Britain on this subject for many years. High level - you can "live" somewhere like Monaco and pay absolutely no taxes apart from an initial "joining fee" (pocketed by the Monacan royals). After that you don't have to live there. You can quite happily flit around the world with a tourist visa and for the UK you'll be able to stay up to 181 days a year and not be caught by any tax. The US is similar but more complicated.
I haven't done this recently but if you go down the UK rich list my guess is you'll find no one actually resident in the UK for normal tax purposes. Also don't be fooled by Swiss tax residency. For some reason Swiss federal law allows rich individuals to negotiate a personal tax deal that is kept secret so you can guess what sort of rate is paid!
What has this got to do with my original complaint? Well it's pretty clear people who do this a parasites. In reality they live in normal taxed countries, enjoy all the benefits both personal and business and pay nothing towards the basic social and business fabric and we ordinary folk have to and yet these parasites disproportionally benefit from our tax dollars.
In summary it's clear they don't give a toss about us in the wider economic and social context do you really think they are on our side in respect of the company sale?
Vote against all motions and let them know we are not pushovers!
I think you're being too kind. The process has been going for the best part of 18 months. They could take us through their original thinking leading up to the putting up for sale sign, how the numbers of interested parties have grown and fallen. Why people have dropped out why new people have appeared, why the process has taken so long, has the effect of sanctions diminished over time, have the management up their expectations of the selling price with the rise in gold price or have they kept it the same and instead tried to wrap the sale process up etc etc etc.
None of the above breaches confidentiality but would at least gives me confidence they are serious about selling. Saying the are is on thing actually selling the company is another.
Sure the gold price has gone up since the start but that doesn't make us masters of the universe. Just lucky.
Our luck could also run out...
It's been well over a year since I sat in a poky room with Slimshady talking to our esteemed CEO via a screen who was decidedly distant (in all senses of the meaning) even though I was on my best behaviour and what has happened since?
Well not much, our great leader has got even techier but is still paid his full time salary, we're in a period of profound non communication which the optimists read as nearing a deal but history suggests the opposite could be equally true.
I for one will be voting down all the resolutions come the AGM purely out of the desire to remind the big boys that we small people still exist and yes we'd like a bit more firm information after 18 months of *ugger all.
For me the excuse of commercial confidentiality is an excuse no more. I urge everyone else to do the same . Yes I know that it won't make much difference but they'll have the embarrassment of reading out percentages of resolution approvals of less than 99.9% which might, just might, stir them into communicating some worthwhile information this time.
Reading between the lines it looks like the controlling shareholder by cutting off the firm's access to cash is trying to push it into an artificial default. By doing so it could then cause the company to be liquidated and assets picked up at a song.
In short a heist that looks alarmingly like the sort of thing that would happen in pre ware Russia.
The oligarch wins we little shareholders lose.
We'll never know. Once SHG gets sold it and its accounts pass through a veil beyond which we mere mortals cannot see. The same goes for any envelopes brown or otherwise that might get passed from SHG new owners to obliging government ministers and officials.
The speed a which both the Kenyan and Tanzanian authorities have given permission for the takeover is mighty impressive.
Given that African governments have a reputation for sloth and indifference I'm wondering what incentives were put in place for such a speedy response....?
I can't remember from the original RNS, if Vale withdraw does that mean they maintain any residual rights/claims over the areas they have drilled?
Anybody remember?
Now over 6% with the average price in the latest RNS 14.15
Interesting
I for one will lodge a formal complaint (much good it will do me I know!) if they fail to announce the results by start of play tomorrow.
Disgraceful!
Alternatively they've lost and are figuring out what to do now! Either way they need to get out the RNS. It's ever so slightly price sensitive...!
Why? Because if people sell up at the last moment before the vote their votes will be omitted from the Thursday count.
Hence why a seemingly inconsequential RNS like today's is pumped out. All designed to confuse and discourage
Please everybody stay invested until Thursday if you can - you can always sell once your vote is counted
Hail Caesar!
I'd generally wouldn't believe the prognostications of most hacks. Since most papers have culled the majority of journalists they tend not go out and do their own research but are willing recipients of information provided to them which they gratefully recycle. This allows corporates and their publicist sidekicks to send in press releases which are then released almost word for word as "news".
Remember the original burst of articles when the original offers was made in December?
Troubled miner Shanta receives takeover offer from white knight etc etc.
Well that proved really accurate didn't it!
It should be obvious to anybody that the bid has been overtaken by events, principally the gold price particularly when it was too low to start with.
That's why Eric and the rest are firmly in their bunkers and refuse to be interviewed in case they are asked the obvious question.
It's a marvel they can keep this charade up but who knows they might win?
I bloody well hope not!!!!
Same here - I'm sticking it out too. However, not sure we'll be going down with the ship rather having to accept the derisory 13.65 offer. At the end of the day it's better than nothing and I just don't go for the "next big thing". Momentum chasing may work for US tech but AIM junior miners? Hmmm
I just can't see the hedge funds accepting that but I just hope they will not give in to the skulduggery....
Note - this follows on from an earlier email chain
What happened to investigative journalism - eh?
Despite having recommended SHG twice in 2023 plus all the compelling points I included in my last email, there has been complete radio silence from the DT on this.
Well since then, the gold price has rocketed up, another stellar production quarter has been reported one, some very questionable RNS communications from the company have been made and finally an adjourned court meeting without explanation presumably because the necessary 75% approval was not forthcoming. Presumably the necessary votes are being massaged as I type.
Retail AIM investors are being right royally shafted on this one and the DT is clearly listening to the big money rather than its loyal readers.
What is the point of my subscription and quite frankly who cares who owns the DT because they can't be any worse the current incumbents.
Do your job and tell me why you are not covering the story. Is everybody really so fixated on the US AI/IT story that nothing else gets a look in? Or are darker forces at work?