Member Info for CTSFO

Https://www.lse.co.uk/rns/appointment-of-joint-broker-f012yq98itbt36o.html

Tiger, no one knows the details of the agreement between the US and Ukraine. It probably won’t cost the US a dime up front. It’s also probably a deal which gives the US first refusal on mining the resources. How that mining gets initially financed hasn’t been disclosed.

Very different with Melten - Rock. Melten will have to be satisfied it’s worth buying out Rock. Especially for the sums being suggested here. This will need JORC compliant data. That’s what we’re waiting for.

Hi Zag, hope you’re good? It’s a difficult one. I accept that there’s a man made component to global warming. But it needs a global response. Without that we’re bound to see more decisions being made like BP have. The main reason I posted it was to show the value in the assets held in Texas are going to go up. They have to.

Going off on a tangent, ‘just stop oil’ has always struck me as impossible. The non thermal (accepting transportation use of oil as thermal) is a significant market in its own right. We’ll always need it as a raw feedstock.

Https://www.bbc.co.uk/news/articles/c3374ekd11po

Tiger, I hope that’s protected in a ISA.

The €295 million is already earmarked to build a production facility - I’m guessing a processing and smelting plant. This will be separate to the mining required to get the ore to feed the plant. But they’re not building this in Greece out of ignorance. Will they be able to process other minerals as well? Will germanium be a possibility?

I don’t think the potential harm Trump & Musk can cause should be underestimated. Closing this agency: https://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau seems particularly malignant. The super rich will benefit, the rest will suffer. I’m not a bleeding heart, lefty, tofu eater! But I really worry about the global financial and geopolitical implications of an uncontrollable narcissist who wants to be king.

You too 👌🏻😊

*Bidding war, not buying war. Fecking autocorrect!

Lmoll, it’s not a straight forward question to answer tbh. It strikes me that an informal approach to discuss a possible takeover can be kept private and only get announced once a formal decision has been made. Then that needs reporting as soon as possible. Companies will not wish to release commercial sensitive data to the competition though. I’m guessing there will be non disclosure agreements and other checks and balances to keep the company, its shareholders, and the offeree all protected.

But once it is released to the market, how many other companies will sit up and take notice? The company doesn’t belong to the CEO, it belongs to us. His possible retirement might make him want to sell out for a nice nest egg, but it’s not his decision. He can’t unilaterally decide to sell. Seen this in M&As in the Pharmacy industry. One offer triggers a buying war. That’s for Tiger to consider. 😊

Trying to help answer someone’s question isn’t wasting my time. It doesn’t matter who approaches Rockfire, this is the code they must follow.

Very long! If you scroll to page 48, that’s the start point for secrecy and notifications. It gives a reasonable overview in the next few pages, before the deep dive into the law and rules.

Coffee, Strong, Lots, keeping awake for the use of. Is recommended.

The Takeover Code:

https://code.thetakeoverpanel.org.uk/code.pdf

Rockfire is registered as a UK company and listed on a UK stock exchange. This is the relevant law:

https://www.thetakeoverpanel.org.uk/the-code

It’s what the filter was made for. No point in engaging.

That link is from 4th September 2024. It’s not an up rating by Allenby today:

“Allenby estimates a fair value of 2.6p/share. The share price is one-quarter higher at 0.225p.”

That isn’t today’s sp.

Good points Jollifant.

Interesting point about a trade war. We’re already in the early days of one, I think. China has already imposed restrictions on the export of REM, but I’m not sure if this is only affecting the US. We know the EU wants self sufficiency in these resources. It’s going to get very interesting.

Please don’t take this as argumentative. Would the Greek government +/- the EU step in to prevent a strategic asset like this being sold to China? Would a fair market value then have to come from them to compensate Rockfire?

From the Rio Tinto website:

“ 1883

Supplying 10% of world copper 

Initially, our shareholders had high hopes of quick returns, but it took 10 years of regular, additional funding before investors started to see promising returns. And by the turn of the century, after vigorous expansion, our Spanish mines were producing 10% of the world's copper.”

Seeing the sp fall is frustrating, and yes I’m under water. Obviously I’d rather have bought down here! I don’t have a crystal ball - none of us do. I don’t know anywhere near enough about mineral exploration to know how long the recent placing will last. I have to accept that Rock may well need to raise more money in the future. But I’m not saying that to simply spread fear and uncertainty as some inadequates do. What we do know is that resources have previously been found here. Guided drilling and assaying is taking place. News will be coming soon. Not all the data, but the start of - hopefully - JORC compliant confirmation of the size of this resource. Then we should see a re-rate. With so much uncertainty within Geopolitics and the world order, I’m not surprised investors are waiting for rock solid data before investing. Good. It gives me more time to juggle finances to buy more here.

GLA