Member Info for daramuda

The first step is the RNSs showing the quality of the new investors. Then it is up to the board and its professional advisers to get the application for the listing right and it is up to DM to close whatever deals he is working on and release news on those. I am very comfortable with my investment.

Iluka did not put out the price of 36 pence in their first RNS calling for a halt in trading. In my view they expressed surprise that SRX had stated the price of 36 pence in their RNS (SRX) of Friday morning. I think the board of SRX deliberately flagged the price of 36 pence and that is why I made my comment earlier about the talks initially announced on 19th November 2013 at a time when the share price was higher than we are now. The company is for sale but only at the right price. Come and get it boys but pay up if you want it.

tbrock I stand corrected. You have the advantage over me. Discus 1 - the board through its US sponsor may apply in August but August is a relatively dead month for the market in the US -holidays. I think that we have to be patient with the ultimate date for the listing; far better that it is done right. I cannot see DJI listing any earlier than towards the end of September.

When the announcement was made on 19.11.13 that there had been an approach the statement said that it had been made by parties (plural). The share price had been 57 pence, then advanced and on the date of the RNS raced to 71.50 pence ps. From memory the sp was at 60 pence the evening before the announcement. My point is that it was unlikely that the approach(es) were at a figure way below say 55 pence; I think with certainty they would not have been as low as say 45 pence. Whilst terms could not be agreed then there is no doubt in my mind that since the company has further progressed since November 2013 and rutile prices are hardening that Pala or the board would entertain anything below 50 pence. Further Pala's modus operandi seems historically have been that they expect a return of three times their investment. My calculation is that on average they have invested at 17 pence which would make a minimum of 51 pence using that argument. I am still looking for some justification as to why Pala might entertain a low figure and I cannot find one.

As I see it the stages are as follows:- Declarations by the three or four blue chip institutions who partook in the placings. Expect RNSs over the next week or so. Choice of the US investment which will sponsor the Nasdaq application. That house will have done due diligence so that their reputation remains intact. In relation to and support of that, news releases regarding deals that we believe that DM and the board are working on; August say. News in US regarding the promotion of the Nasdaq listing. August/September. Bear in mind that there is greater transparency. We should get an insight into forecast revenues plus details of how many extra persons are signing up to the apps. The listing mid end September. US price which one would hope will be the equivalent of $2-$3 per share. See with US transparency and quarterly reporting how revenues are growing and profitability. Whatever happens timings can change. Many pis do not understand how far this company has come in a short space of time and the quick witted way in which DM has seen opportunities and changed tack. Should the lotteries return in the autumn and DJI be appointed as one of the chosen that will be an addition to what is developing excluding lotteries. Whilst many sold stock today, I added.

I have trying to think what might be in it for Pala to accept the offer of 36 pence although every thought process that I have dictates that it would be insane. But you see the most peculiar things happen with the stock market and especially the AIM casino. However there is no harm ruling out the worst case scenario but to get there one has to consider what one is ruling out if you understand what I mean. It is the wording "advanced talks" that puzzles me. Cricketers tend to play with straight bats; however many businessmen do not.

Plus the call of the other long standing institutional holders. On the basis that Iluka have picked up stock (Friday three weeks ago for a start) they have not reached 3% and Pala did not buy or sell that stock.

NO ONE SELL A SINGLE SHARE

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Higher corbs!!! PS Much higher. PPS At long last.

I believe that we see you 42 pence in the next week or two. The 200,000 trade this afternoon can be read both ways but in reality one way; if someone wanted them (i.e. bought) they got them; if someone sold them then someone wanted them to take them.

Thank you for that reminder tigerwoody. Also I do not forget the former chairman Jan Alex Castro paying up to 60 pence per share. I wonder if he still holds his 2.5 million plus shares since he stepped down.

I believe that we are all agreed that however the near and middle future works out, Sierra Rutile is very undervalued by the market. The infrastructure, mining techniques, production and economics of and in the company have changed exponentially for the better since 2011. If Pala were prepared to bid 30 pence per share for the company in 2011, that figure has been left far behind.

I spoke with the marketing director just before the Ebola outbreak took a real hold and China was his bag. I also spoke with JS on the same subject. The fact that he is there does look as if there is every possibility that he is going to tie up a deal.

Certainly knows how to spend shareholders money. Only two other people can afford to eat in the restaurant, More staff than guests.

mike - I know that but thanks; just trying to help discus. A

discus - Mr Wei Qi and Mr Dong Jinhua joined on 1st July. It is the FCO, Scott Kennedy who joins on 8th August. What I do not know is whether it is good enough for an application to list on Nasdaq, to have appointed the FCO, the appointment of whom is essential for an application, or whether he needs t have started work. It is essential to have had a full years figures which there are as of 30.06.16. What I am driving at is whether we can guess that the application has been made yet. I suspect not but I may like anyone else be wrong.

just short of 700K traded today. Decent rise. If there is a predator is that predator hoovering shares which some holders are selling? Still no announcement of a holding.

A good exchange. Tom Winnifrith included Sierra Rutile in his blog today. He likes SRL which for TW is exceptional since he is for ever pulling managements apart. Gib knows that I have been around since 2011 since when, like you, Ninedoors have added. There have been highs and lows for investors; at times desperation but the stalwarts could see what Pala were doing to improve the business which was not helped by the fall in rutile prices and then the Ebola crisis. The business has recovered and as Gib states Pala have turned the business into an efficient business. A potential buyer not only has an efficiently run business, but also a time wise the beginning of another cycle in rutile prices and there is still the Sen mine to come; a good time to buy the company.

Beaufort Securities have produced a note which is extremely good; reiterates its target price of 40 pence. It highlights that recent Iluka statement that rutile prices are hardening. Like Gibraltar 1 I see a bid coming. Unlike Gibraltar 1 who sees it coming from Pala, I see it coming from a third party. There is a further alternative that the company will be able in my view to declare a dividend in 2017.