Member Info for KnockinOnHeavens

They can always reduce operations to a minimum maintenance level and look for alternative solution for as long as necessary. I don't understand why we we keep talking about operations as if it was a train without the breaks that runs and can't stop which enforces rushed choices like either 5p takeover or insolvency? Why? Why can't they just stop (or could) a few months ago with enough money on the account to last for a long period of time that would allow them to re-group and find a solution? I understand it's a little bit more complex than that and undoubtedly would cost a lot but in the long run it would preserve the shareholders value. This is not even a fully operational business, it's a construction site. People start building houses, leave them unfinished and complete years later all the time. Only because you are having some difficulties to get a loan to complete the build doesn't necessarily mean that you have to sell the whole plot in panic for a fraction of the price (excuse simplified example).

KOH

Do we think AAL we’re testing the reaction to see how the news was received or do we think they are like Blowfeld say in ivory towers stroking their pussy and not giving a flying ........
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Testing?? Board is already practically recommending takeover at 5p and they created a brand new section on the website dedicated to the future new owner.....Doesn't look like testing to me....

KOH

I was thinking about it for a while and something really stinks here. The company apparently had enough cash to continue operations for 6 months in Sep / Oct. The predatory approach from AA must have happened well before Xmas considering they announced "well advanced" takeover talks in the first week of the year on 08-Jan-2020. Moreover, the board is already expressed their willingness to recommend the sale. It means that there is a good chance that the board had a good idea of what was going on at the time of feeding us with "strategic review" nonsense. These things don't happen overnight. What's happened to the whole review announced only in Nov-2019? What's happened to the whole "Initial Scope" idea? They clearly stated in November that:
- Strategic investor process - A number of parties have expressed interest and are actively engaged in due diligence
- Financial investor process – discussions ongoing with potential investors
- Execution window through to the end of March 2020 (!)
- The Company is seeking to have the Initial Scope funded from the proceeds of either the strategic investor process or through a structured debt financing package, either of which may incorporate the issue of new equity or an equity-like component to the financing package.

Why are they recommending a predatory offer at 5p per share in the first week of January?

KOH

THEY NEED The 600m to de-risk.....

The mine needs a company like Anglo to get the job done
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They don't. The 600m to de-risk and raise the reminder via debt at competetive rates. It's that simple in essence. They have resource, they have sales agreements, they have amazing sub-contractors. They don't need AA or any other predator at all.

KOH

Ambience

It's not on mine but thanks anyway.

KOH

Yuri

- Company doesn't want to talk to you without chaperone
- Everything's confidential (takeover excuse)
- Nobody will give us any detailed information without serious pressure
- Most importantly: Time is running out and time works in favour of AA takeover

If there were going through other options why wouldn't they issue a simple message to calm everybody down e.g. that the process is ongoing and all options are open? We can't be kept in the dark until it's too late. If they weren't forced by leak they would probably tell us about takeover five minutes to twelve with AA acting as "our saviour"

KOH

Ambience

https://www.sharesoc.org/membership/associate-membership/

It's not on that page.

KOH

Ambience

There is no "comment" section where you could mention reason for joining, just a question "Where did you first hear about Sharesoc?"

Anyway, All please join Sharesoc membership and write to them

https://www.sharesoc.org/membership/associate-membership/.

KOH

Yes, Register for Membership + contact them via Contact page too

Thanks All
KOH

CONTACT SHARESOC AS A STARTING POINT

We need a place where we can communicate effectively away from Chatting Forum and work as a Team,

Please contact Sharesoc with your real details and use template prepared by Achille or use it as a starting point to write your own letter.

Sharesoc contact page below:
https://www.sharesoc.org/contact-us/

They may come back asking for membership but that's fine apparently it's free.

KOH

It would be a cheating if they pretend to be interested in serving such roles and get assess to all the business information or secretes of SM, and then change their role to a 100% acquirer.
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Correct wwguk, I believe this is happening as we speak, but with the blessing of Sirius' BOD.

KOH

CONTACT SHARESOC AS A STARTING POINT

We need a place where we can communicate effectively away from Chatting Forum and work as a Team,

Please contact Sharesoc with your real details and use template prepared by Achille or use it as a starting point to write your own letter.

Sharesoc contact page below:
https://www.sharesoc.org/contact-us/

They may come back asking for membership but that's fine apparently it's free.

KOH

Great post Achille,

I agree, please contact Sharesoc with your real details and use template prepared by Achille or use it as a starting point to write your own letter.

Sharesoc contact page below:
https://www.sharesoc.org/contact-us/

They may come back asking for membership but that's fine apparently it's free.

KOH

Yellow,

Thanks I will do.

Let's do it collectively - the more people will join the better.

https://www.sharesoc.org/

KOH

Correct Jiffy,

All we need is one thing - a TRULY GOOD INTENTIONS and honest board that truly cares about shareholders value. That's it. It can easily be done. Instead, we have australian mafia recommending takeover at 5p and telling us that's the only alternative to insolvency.

KOH

Steady

I feel like we should have taken legal action against that BOD a long time ago, it might be little bit too late now lol
I still think that takeover will go regardless, we are (or will be soon) on the verge of insolvency. If you run out of options, riot is the only way :)

KOH

Ok Yellow, chill

I'm not planning to visit lawyers first thing Monday morning ;)

KOH

what's the alternative? we will have to come up with one, real working solution, without taking silly risks because time is short
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Reduce operation to a minimum maintenance level and look for alternative solution for as long as necessary? I don't understand why we we keep talking about operations as if it was a train without the breaks that runs and can't stop which enforces rushed choices like either 5p takeover or insolvency? Why? Why can't they just stop (or could) a few months ago with enough money on the account to last for a long period of time that would allow them to re-group and find a solution? I understand it's a little bit more complex than that and undoubtedly would cost a lot but in the long run it would preserve the shareholders value. This is not even a fully operational business, it's a construction site. People start building houses, leave them unfinished and complete years later all the time. Only because you are having some difficulties to get a loan to complete the build doesn't necessarily mean that you have to sell the whole plot in panic for a fraction of the price (excuse simplified example).

KOH

I agree Jiffy,

This needs to go through the lawyer and we need a way for PI to communicate with each other. Not sure about how effective that would be though. Do you remember the petition? It took ages to collect 10k signatures. We need a good publicity, engaging social media etc

KOH