Member Info for dogstar

Polyhalite is a low grade fertiliser that was always going to struggle to find a mass market.

Unbelievable that AAL did not see beyond the "Sirius" spin.

Tony

Clearly the adjacent (Helios) reserves have for a decade or more been seen as being processed at New Luika. This gives at least a 5 year extension before further exploration. Shanta will or perhaps have done a deal already. So much upside!

The cash issues finishing Singida limited drilling this year and keep share price in check, allowing this opportunity for founders to steal from shareholders

A £1M investment by Harry to keep to keep him in his high life in Perth 10 years ago still working I see

proactive interviews just allow the company to buy the right to spout their lies to us private investors.

questions never challenging, often written pieces full of mistakes. for example the comments this time state a dividend of 2.15p per share. what a load of *******s

Ontarget

Think you are on target with these project names!

One plan over 18 months, to take this private,

What was clear with "clarity" was that it was induced by our director of acquisition and merger and was never really going to happen. Evidence for that was the in house (daddy) sales the same day immediately after two rampy RNSs detailing likely cash bids.

Unbelievable that these crooks give us pointers to their actions.

Was Eric's resignation designed to create uncertainty and dampen any share price movement in an improving production and growth period?

Saturn look set to look after the directors too? See page 28 of scheme doc. Saturn hold our directors in "high regard" and will clearly reward their actions

Do not forget, Memery Capital who are Shanta's legals on this transfer into private hands are well represented in AIM regulation boards by their director Nick Davis.

He will know the rules and how to navigate

Adw198

Annual results and to a lesser extent interims are the only times you get the whole picture.

Liabilities, creditors and debtors can vary on quarterly basis.

Don't forget the pain of building Singida for $50M or more of our money. Resulted in a return to hedging and loans and cash flow issues that hammered our share price back from 20p and yet when we are about to reap some reward our mines are stolen from us.

For clarity

Addleshaw Goddard LLP is acting as legal adviser to Bidco and ETC Holdings on English law;

Mourant Ozannes (Guernsey) LLP is acting as legal adviser to Bidco and ETC Holdings on Guernsey law;

RBG Legal services Limited, trading as Memery Crystal, is acting as legal adviser to Shanta on English law; and

Carey Olsen (Guernsey) LLP is acting as legal adviser to Shanta on Guernsey law.

Really cannot see any counter bids due to how well both Shanta and Export Holdings have shared the cash with locals and the Government in their operations. Why would the Government risk transferring the licenses to out of Country operators.

The removal of foreign shareholders now they have had our $55M investment, will mean future profits stay in East Africa

Https://www.linkedin.com/feed/update/urn:li:activity:7143206185301667840?utm_source=share&utm_medium=member_android

Nick is very experienced and knows Shanta extremely well being an ex NED. Being on the advisory group of AIM markets, he will do extremely competent legal work for both Shanta and Saturn Resources I am sure.

1plus1

If you look at the Shanta presentation of 16 December 2020.

It has to be assumed that Shanta formally tendered for the licenses in early 2020 when the Government publicly offered the licenses.

A full page referencing the neighboring resources.

To think Eric first decision as CEO was to ditch the deal with Helios for a few Shanta shares and instead push for Singida development. Now it could in practice be obtained for part of the VAT owing.

My view is that the Tansanian Government will already have agreed to current and new licenses being awarded to Saturn as a preferred partner due to our contribution to the Tanzanian economy ongoing.

As for other bids, obviously the directors are pushing their duties to the limit, so have give the impression that other offers could be accepted

On Shanta website, investors, AIM Rule 26, we have directors responsibilities and Governance.

Recently updated, bit of a joke really.

Coach and Horses. LOL

Indeed the Helios/Winshear proved up reserves, yes a full Definitive Feasibility Study was completed are a game changer for New Luika.

Those licenses double and make Elizabeth Hill and Porcupine into very good open pits with high grade underground extensions.

I asked the question at the last Q and A, Eric acknowledged his excitement and did admit that Shanta had approached the Government.

Some shareholders will do very well, I can think of at least 3. Namely the Patels, Export holdings and Eric Zurrin.

How can the directors so blatantly steal the company and even worse, allow and approve that it happens?

Complete failure of their duties and responsibilities as company directors. Should all be locked up.

And as for the Ceo, what is the package that he is receiving that has made him change his tune so radically, we are missing a load of facts for sure.

Https://www.linkedin.com/posts/ben-jones-08846774_shanta-have-recommended-a-cash-acquisition-activity-7143217675798810625-S-d3

Indeed Tony

Based on reserves at New luika being worth $140M and $110M at Singida respectively and resources at West kenya being worth $340M , Shanta were saying in July 23 that they had deep value of $500M more than their market Cap. Based on the small print notes copied below.

..............

Market capitalisation and Group NPV by asset

(US$m)

1,2,3,4,5

Deep Value:

+US$500 million

Notes:

1. Market Cap calculated using 9.0p share price

2. NPV based on Liberum research estimate

3. Singida Project economics prepared internally as announced 07 October 2020, using a LOM gold price of US$1,900 /oz,

8% discount rate. NPV accounts for construction capex spent

4. West Kenya Project economics prepared by independent consultant Bara Consulting Pty using a LOM gold price of

US$1,700 /oz, 8% discount rate (2020)

5. These figures have been prepared for illustrative purposes only and no reliance can, or is to be placed on them

..............

I think most of knew Eric liked to stretch the truth but putting numbers in print like those are very strange when the buy out process had already started. And Eric now supports this, why?

I get that hounddog but quite surprised to still see it put so forthwrightly and each asset itemised and valued in the 5 year presentation and it is still on the website.

500 million dollars company that is now being obtained for 180 million according to Eric and Liberum

Tony I found the asset valuation bit confusing.

I think it refers to the presentation of the 5 year plan produced in July.

In it they make a strong case that Shanta has a deep value of $500M as a sum of the 3 sites true value, against a Market capitalisation of $120M based on the share price at the time of 9p.

Presumably, they are saying that was just normal company and broker promotion to improve their share price

So where do I sit now.

I am afraid I was certainly too emotionally attached when I invested back in 2010. Had far too much invested and bought all the way up to 40p. Only 126M shares in issue when I started.

Did not see some of the placings coming and got caught, taken some losses. Read it better now and have got a decent holding for me in here now after the nonsense around Chinese cash buyers and Leslie sells settled. A pantomime that probably caused the Patels actions. IMO.

Thought this would go on a decent run providing gold stayed firm. Clearly as Shareholders we have paid dearly for the Singida build not coming from cash flow and all the cost of financing that and using tax paid profit on dividends and the purchase and development in Kenya.

But hoped end of Silver streaming, paying off overdraft and short term stuff, removing of hedging and associated financial vehicles and stable less aggressive growth management post Eric and Luke would reap some reward.

Eventually when back to a positive balance sheet again this would have been a cash cow from which sensible investment would make sense.

Alot of upside from unpaid VAT, neighboring resources at New Luika, drilling and growth of Singida and of course drilling and feasibility work in Kenya may have been held back since last Spring to avoid helping the share price recover from the Odey fire sale. But even without and perhaps because of the lack of Eric's positive spin? on everything, momentum was building nicely

All In all very disappointed with this offer on a personal level and let down by the directors and Eric by their actions and inactions. Fair value 20p+, I reckon