Member Info for D220

If only 26% voted against, I guess the Hardys must have voted "For"? Why?

Is very depressing. I am sitting tight ( with an average around 3.5p) and waiting for either a hit or a (further) slide into the plug hole. The joys of investing in Junior Miners.

JAS, yes. That is what the December RNS says.

I would be happy for a the break fee of £7m to be paid if the BOD belatedly realise what a stinker of deal this is and change their recommendation.

As far as I can tell from the RNS, there is no break fee payable by the buyer if they walk away...

SP graph over the last 48 hours is pretty grim 272p to 243p in pretty much a straght line. What will arrest this fall? Perhaps we are supposed to see equity issue at 278p as result for shareholders now? Pull the deal guys and announce a return of cash to existing shareholders. That will turn this around.

Interesting update today. Seems Pitombeiras is effectively "on hold" until market conditions improve. However, it does seem that they are in the process of another project acquisition (presumably at a good price) and so we can expect more news soon. Hold or add more IMO.

https://www.telegraph.co.uk/business/2023/01/20/green-revolution-fuelling-environmental-destruction/
"A similar ethos underpins proposals to establish minerals processing facilities in the UK, where multiple projects are progressing. Among the vanguard hoping to break our dependence on Beijing is Pensana, which is building a £125m rare earth minerals processing plant at the Port of Hull in Yorkshire.

Paul Atherley, the company’s chairman, who is also chairing a scheme to establish lithium refining in Teesside, says Pensana’s feedstock will come from a mine in Longonjo, western Angola. He is also seeking to source lithium from Australia for his other company.

“What we're arguing is that Australia, and South America and Africa should be doing what they are good at, which is mining and the extraction phase. And the processing should be done in Europe, in UK chemical parks hooked up to offshore wind, so we create these independent and sustainable supply chains, independent of China, so we can be absolutely sure about how it's mined and how it's processed.”

I haven't sold because I too am hopeful of a "No" vote although I am not optimisitic. If this deal IS junked, I would want to see a chunky special dividend announced and a significant uplift in the annual dividend going forward. Forget any further "deals" (unless there is a change of BOD) and effectively put the company up for sale or manage it into "run off" with a return of shareholder capital from income over the next 5 years or so.

Thanks for posting that link Barry. Fascinating video. I was already in the "No" camp but after that, I am really quite concerned about the probity of our BOD to be recommending such a bad deal. I have control of 250k shares but unfortunately cannot vote with 75k of them as they are tied up in probate. At least those shares will not be voting yes.
I am composing an email to Mich to voice my concerns.
Please, please, please, Mr & Mrs Hardy vote "No" and better still, go public with your opposition to this value destructive deal.

Bb, the break clause £7m is only payable if the BOD change their recommendation. It is NOT payable if there is a "No" vote.

NKOTB, just reading the breakclause - it seems to me that, unless the BOD change their recommendation on the deal, the £7m WON'T be payable in the event of a "NO" vote....? The clause says "AND" not "OR"!

I'm here for takeover or dividends too. Family has 196k shares.

As the offer stands, the 200k share I control will be voting "NO" too.
I would rather the company was rundown as a cash generator for shareholders than enter into the deal as proposed.

General Meeting in January tp approve the issue of the consideration shares. I assume the Hardy's have idicated that they would approve this. Looking at posts this morning, doesnt seem like many smaller PIs are in favour. £7m break clause if SQZ does not approve.

Suggestion on ADVFN of Tailwind tax losses of £1.2b????

Well, those that wanted the BOD to do something have got what they wanted! as to whether it is "A Good Thing", there doesn't seem to be enough information to be able to judge. Yet. Wonder what the market will make of this?
Most interesting for me is the involement of Mercuria. They obviously decided that they wanted in on Serica.

PP, please can I have
a) 426p
b) 368p
Either would get me a nice sports car :-)

Mick, you might just be right - now buys at 33p this morning...

"As a final comment: If you still have some WEN shares, I would hold on to them a bit longer. It’s still possible that another party may want to bid as well… you never know."

Looks like someone thinks there will be a counter bid for WEN as it is now above the recommended price. SQZ looking at it???