Member Info for Johnnytaffia

Beware - anyone remember SXX? They were well on the way to developing their mine and ran out of cash. Result? PI's lost out and now Anglo American own a 'World Class' resource.

Permit is great news after so long but I reckon there are plenty of bumps in the road. Death or Production/Take over.

Cheers

Cassandra

Yup, just offered 20p as well

What is current SP?

Anyone? -

The 1 day I decide to WFH and I have a Swedish colleague who, like, literally sits in the same room as me when we are in the office. Bunch of a**e, eh?

My Swedish is a it rusty. I've managed to pick out Kallak, 4 ,000,000 and 6,000,000 - could mean anything from carrots to reindeer annual tonnage of iron ore extracted: who knows?

Not suspended here - HL willing to sell. But I guess most of you already know BEM is not suspended on AIM.

Jeeeez - after 9 years?

Literally I am, like, WTF

This is dope innit, eh?

Well, I'm not the sharpest tool in the box but reading between the lines here where - I paraphrase - "stockbrokers are baffled" then clearly this TO is a load of baloney

They've just had a cash injection from GOI equivalent to current MCap so I struggle to see how much cash has left the business recently unless I've missed something.

Okay, this has probably done before. Something I am struggling with. The following is a very crude simplification.

1.Assume that nothing changes.
2. Best case TO will be VWAP +5% so at current SP best we can hope for is just under 200p, yeah?
3. $200 million on share buyback which reduces shares from 500 million to 400 million - ish
4. 20% reduction of shares in issue should see an equivalent 20% rise in SP is nothing changes, no?
5. That would mean a revised SP of around 235p

Why on earth would anyone take up the TO at VWAP +5%?

Maybe I am missing something. I'm not an accountant or work in finance - I'm a simple engineer.

CHeers

JT

If you wanted to get rid the PI's ahead of whatever dastardly plan the lizard eyed shape shifting Salamander people of the New World Order has, why not exhaust our patience with a lethargic response to insisting on payment so we all take up tender offer?

Also, never ask a starfish for directions.

JT

Waiting for this tax refund is like trying to take a s**t when constipated.

Seems the general mood is GTFO of CNE once the GOI pays up?

Hmmmm - IMO a range of 230 - 245 from 208 is hardly a bargain if the company is sitting on $05.Bn cash to fund a tender offer. So a 15% - 20% % premium? Hardly screams 'SELL' to me unless I am a PI looking divest away from fossil fuels - especially from a mid tier FTSE 250 company which probably can't afford a sustained pivot away from fossil fuels to renewables. The again a 20% premium for doing nothing other than tendering shares may be seen as quite good.

Guess it will come out in the wash eh?

So, fingers in the air, check the wind direction, what would be SP after this all shakes down and what would be a TO target price?
I mean if the plan is to reduce the no. of shares in issue by, say, 20% then all things considered equal the SP should rise by 20% no? is or that too simplistic. 20% on 208 is about 250.

I asked this a while ago and I think the answer is something like this.

1. CNE sets a minimum - maximum range within which you can tender your shares -
2. You set the price. If you lowball then the company will buy them
3. If you set a high price within the range then you may be left out in the cold as CNE can buy sufficient tendered shares at a lower price than you have tendered for

4. What happens if no-one - not a single PI tenders their shares? I haven't the foggiest but the company would be sitting on $0.5Bn cash -

When I was a conspiracy theorist and believed the World was flat and shape shifting lizard people were plotting World Domination I thought these small sells were signals between the lizards to rig the market. Turns out it is trading platform providers making small sells to cover PI account management costs. They're sells not buys. Maybe I'm wrong and the salamander eyed lizard people really are in control of everything. But WTFDIK, eh?

So, Monday it is then, eh?

Given the SP is stable atm I guess the expectation is the can is gonna kicked down the road again but nobody knows how far?

@Wokinpark - thanks buddy.

Can't help thinking that if a company wants to buy something of me it must be worth more to them than it is to me in which case I should not sell? Many years ago I as an impoverished student I saved on rent by house-sitting for about a year. Instead of sp*ffing all the rent on booze and fags I used some of it buy shares in CNE - dunno why, just a hunch which worked out OK for me. At confusing times like this, maybe I should have blown the lot on booze and fags like any other normal 21 yo.

Cheers

JT.

Struggling with this tender process. I'll keep my maths simples as I am a bit of an idiot.

Assumming CNE get full GoI award

So, there is £500M set aside to return to shareholders as a tender process , yes?
This means SH's may get a premium for their shares as opposed to selling on open market
So, lest assume we all tender our shares then CNE, at current price (say £2) will buy back almost 50% of current shares in issue. What happens to those shares? Do the shares have to be 'destroyed' or can the BOD dole them out to amongst themselves? If 'destroyed/cancelled' does that mean the new CNE has say 250 Million shares in issue which means I own more of the company by doing nothing?
Grade C GCE Maths 1982 - haven't looked at algebra or trigonometry since. Guess it shows, hnuh?

So, what is the difference?

Buyback is buying on open market. If I offer my shares for tender then surely the end result is the same? CNE has bought back some shares. I might get a marginally better price than selling them on the open market tho?
Why not be patient and just buy them on the open market rather than pay PI/II's a premium?

Am I missing something?