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So in the end what was the ‘smoking gun’?

Why would the 10% put off a bidder? It would be Zioc shareholders that pay it from the funds of the sale. To me it shows that a bid is more likely happen when those connected to RAM receive a nice fat backhanded payment for doing virtually nothing

When are RAM entitled to their 10% commission? The statement below states ‘Prior to the shareholders meeting’, that’s now, isn’t it?

‘In addition, where Break Fee has become payable or if an alternative transaction is announced prior to the meeting at which the approval of ZIOC shareholders is sought and the ZIOC shareholders do not approve the transaction and, definitive documents for an alternative transaction are executed within twelve months following the end of the exclusivity period (including any extensions thereof), then a further alternative transaction fee will be payable to RAM equal to 10% of the consideration under the alternative transaction.’

Nibj,

I agree, made all the more plausible with their additional 10% payoff for zioc accepting an alternative deal.

Too much negativity on here. I see the deal as a mechanism where they feather their nest, own a much larger slice of the pie and when it is sold, we will be part of it. If this transaction doesn’t work out as planned and they get gazzumped, they get an extra 10% of the value of the deal as sweetener, It’s a win win for them. I’m patient and I’m sure we will benefit in the end.

This part of the RNS suggests to me that a forthcoming third party offer would not be unexpected. RAM would certainly receive a significant payoff $1.5million + 10% of the third party offer could be a massive payoff for RAM.

‘ In addition, where Break Fee has become payable or if an alternative transaction is announced prior to the meeting at which the approval of ZIOC shareholders is sought and the ZIOC shareholders do not approve the transaction and, definitive documents for an alternative transaction are executed within twelve months following the end of the exclusivity period (including any extensions thereof), then a further alternative transaction fee will be payable to RAM equal to 10% of the consideration under the alternative transaction.’

Surely a company like RIO are looking at this and thinking of making an offer better than the one we’ve received? They wouldn’t be serving their shareholders well if they didn’t acquire assets at good value when the opportunity presents itself. I think there is a lot more to this story about to play out.

Surely at the current SP this is a screaming buy? High probability of doubling your money in the next few months at least, plus there is always a chance of a third party making an offer.

I don’t think he’s sold any shares

But if it’s not good news, why wait until the New Year?

If it wasn’t going to be half decent news then why did they announce they were going to release news on the 6th? Clearly they think it’s good news otherwise they would just release the news without any prior announcement.

So if it’s 15 months, the latest would be the 5th of March? Only a week after the end of the lock in date of the 26th February. Carefully orchestrated? I do wonder.

The lock in could suggest that they anticipate releasing significant news and they don’t want the largest shareholders selling into any rise. To me, the news this morning is very positive and suggests something significant should happen in the not too distant future.

Personally, I think the current SP has factored in the market fears of going private and any future news issued by the company to make that scenario less likely will have a dramatic impact on the SP. Hence why the recent RNS’s have had no real effect on the SP.

Perhaps he doesn’t care……..thinking that he’s on for a bumper payout here?

Of course they are going to be involved, unlike us, they are hardly going to just leave it to others to sort out having themselves made a sizeable investment. They have here a very good opportunity to make themselves a ridiculous amount of money and you can bet they will maximize this opportunity in order to do so.

The only reason the SP hasn’t rocketed since Glencore were cut loose, is because there are question marks in the minds of us less well informed shareholders regarding whether the big pay day will ultimately include all.

The last RNS informing us that the value of the asset should soon increase by $4 billion was not positive?

I reckon in the next few months people will be thinking ‘why didn’t I fill my boots with shares at 7p?’

The management team have identified and progressed work on four key opportunities. These are exciting opportunities that are targeted to increase the NPV of the project by in excess of US$4 billion, and when completed by the end of year have the potential be one of the most value creating project in the Project's recent operating history.

Why do you think it was a buy? At 7.7p it was pretty much the lowest price it had been all day.

What is the incentive for the top dogs to keep the listing if everyone thinks they are going to sell up? Surely they can divi up the 25% or so that they currently don’t own amongst themselves (all on the cheap) and then miraculously find a buyer for the whole lot?