Member Info for Dartron

Sold the shares I bought at 21.80 today, as I feel this is still selling off. I still have my long term holding, and I will buy some back if it goes below £22.50. I think this will do well as a long term investment, but perhaps it is not going to rise just yet. The stamp duty and high share price does not help either.

I was curious, so I dug out the RNS regarding the warrants. It does sound like a SP of 2p will force a lot of these warrants to be executed. (may be an incentive to keep SP under 2p for a while?!)
- from September 2019 RNS
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Rockfire has raised gross proceeds of £350,000 through a placing of 116,666,666 new Ordinary Shares, at an issue price of 0.3 pence per Ordinary Share (the "Placing Shares"). Investors subscribing in the Placing will also receive one warrant for each Placing Share subscribed for (the "Placing Warrants"), exercisable at 1 pence per Placing Warrant for a period of three years from issue.

Should the Company's volume weighted average share price equal or exceed 2 pence per Ordinary Share for five consecutive business days, the Company is obliged to write to each Placing Warrant holder providing notice of exercise of the Placing Warrants after which the Placing Warrant holder will have up to 14 days notice to pay for the exercise of their Placing Warrants ("Accelerator Clause").

In conjunction with the Placing, SI Capital Ltd, the Company's broker, has been issued with 2,333,333 warrants, under an existing contractual agreement (the "Broker Warrants"). The Broker Warrants are exercisable at 1 pence per Broker Warrant, for a period of three years from issue and are subject to the Accelerator Clause.

Reads like they have created 4.5 million shares. When added to the total num shares, this represents 0.5% of the existing shares. The shares have been exchanged for a warrant @ 1p per share. So someone had a deal where they could exercise these warrants at some future date. There are still approx 35 million warrants remaining, so a small amount have been converted today. The warrants have an expiry, though not sure when this is.

Why exercise them now? Well the share price is already over the buy price, so I guess its time to start dripping them in to the market. I would say as it is a small amount, the exerciser is not expecting a massive jump any time soon. Theoretically if they sold all the shares, it would free up more money to exchange for more warrants. Assuming they could sell them for an average of 1.5p. The 45k spent would yield 67.5k. (rinse and repeat).

Bifogad, it might be worth reading the thread from the last 2 weeks on HGM. This is in the process of being taken over, and a few guys were really digging through the rule book and talking about the mechanics and rules for the takeover. I think they decided that the buyer was nearly already at 50%, once he crossed that, he would have the largest vote and could agree the take over when it came to a vote. Slightly different scenario, but I think you will find it interesting. I dropped out this week after selling mine.

You could also read RRE that got taken over last month.

Cheers Trek. Yes confusing but understood. Advice noted.

I didnt expect the SP to walk down quite so low. Luckily i had a buy order at 2.23 which I placed yesterday. I had no hope of it being filled, even this morning. I also bought back at 2.27 yesterday on another account. Just happy to get back in. As others have said, a few pence difference in the entry price - for a decent share - doesnt make a lot of difference.

Goooooaaaallllllllllll

Well explained Trek. I corrected a buy to sell here a few days ago, only then to be told that buys and sells dont matter or some voodoo nonsense about the market!

Anyway, been meaning to say THANK YOU to you trek. I think it was December when you wrote something on the HSBC BB that clearly showed you know what you are talking about. At the end you mentioned TXP - the share that keeps on giving. I checked it out and have been invested ever since and im sure you know why I am saying Thank you!!

Tell me, are you invested here? either way, your reasons? Cheers.

Great set of results, dividend up 14%. SP up 7% currently. Been a testing couple of months as the SP sold off and sold off, even yesterday. Makes no sense to me. Always thought the results and outlook would be impressive. Glad I got the chance to load up in the 21's.

Well we all have our own way of celebrating. Snails YUK

New trousers please LOL

Took some profit today, reality is there are so many miners to invest in, one of them will be a bargain tomorrow. However, i would love it to be Centamin, I need to see 226 and im back in.

Glad i bought some NCYT to offset my losses here.

BTB nice to know someone else shares my sentiment. I guess this will re-rate eventually, but I am a little disappointed having only recently invested here (couple of weeks) and currently below my entry price. Glad I didn't put much in, as my money is working harder elsewhere at the minute. Fully intend to buy more, but not until I see some upward momentum. I expect this will jump rather than rise?

Sorry to disappoint, but on the 3rd at 10am, the share price was 25.6 to 26p, so that is probably a sell. It is blue because it is being compared to the bid/ask at the time of being printed.

Hopefully building up towards the results on Friday. I have bought more today, to lower my average. A lot of brokers have this north of £26. We will see on Friday!

Just before this happened I invested in TSG, another Russian gold miner, who are extricating gold and paying dividends. Might be worth a look. I also read an interesting post on HOC saying that some of these countries may start to impose higher windfall taxes on miners (to bail themselves out), so expect more shenanigans. Investing in miners seems like, now the goose is fat the fox is watching.

Thanks Kenj, Didnt realise they must make a mandatory offer. But it will be just that, an offer, and as you say will need a high proportion of approval. If it is £3.00 that's not too bad, I have done well multiple times out of HGM, but it could also be higher, though you would think the sellers of the 40% must have arrived at what they felt was a fair value. Plenty of time to invest in other gold miners, and being forced to realise a profit isnt all that bad.

Was just interested in the rational behind your target, and time lines then? My feeling is that this is not going to go back to a positive trend, that's all. My rational is that I think the index / market is dipping, or cooling. Some money leaving the market, awaiting impending doom, or jumping on precious metals. I am seeing this on a few 'great' companies I am invested in. Would love to be wrong, and eat my hat, knowing I was back in profit.

Today, Fortiana agreed to acquire 145,759,871 Highland Gold Shares, representing 40.06 per cent. of the issued share capital of Highland Gold.

- That is plain enough english for me.

Fortiana is a Cyprus registered company majority controlled by Vladislav Sviblov and is part of his wider business interests in the metals and mining industry. Vladislav Sviblov is Chief Executive Officer and majority shareholder of Ozernaya Mining Company which is developing a prominent zinc-lead deposit in the Buryatia region of eastern Siberia in Russia. It also controls a gold producing group of companies in the Zabaikalsk region in Russia with over 30koz pa gold production and an extensive resource base which provides for a strong Life of Mine ("LOM") production outlook.



· Commenting on the Offer, Vladislav Sviblov, UBO of Fortiana, said:



"This is a strategic investment for us, in line with our aim to build a broader asset portfolio in the natural resources sector in Russia. This transaction adds to our existing strategic investments like the Ozernaya Mining Company, which is developing zinc-lead and gold-zinc deposits, as well as several gold mining assets and prospective deposits in the Zabaikalsk region.

- Doesn't say he is buying the company, just adding to his portfolio.

Just a deal between a couple of Russians. Nothing to see here!!! ha ha