Member Info for mac4671

Yes Aston, i believe the non-binding offers started coming in around this date, hence the 2.9 confirming the shares in issue, they will have to have had that total to put their offer in -

2nd Dec 2020 12:10 pm RNS Rule 2.9 Announcement

"In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, the Company confirms that, as at the date and time of this announcement, it has 2,758,701,681 ordinary shares of 0.1p each in issue and admitted to trading on the AIM Market of the London Stock Exchange (and no shares held in treasury)."

https://www.lse.co.uk/rns/EUA/rule-29-announcement-r7bruaoy4w2wknj.html

GLA

Indeed Ian, the whole thing is a work of genius to be honest, every option more than covered. Someone will have to bid very big to secure this first mover position for the full acquisition scenario to take place, very big.

All routes lead to brimming treasure chests arrrrrrrrrrrrrrrrgggggghhhhhhhhhhhhhhh

I hope you're having a lovely weekend, all the best.

GLA

Yes, but non-binding offers were not in at that stage, that's the difference. They can't change the share level, the offers are made to the shares in play at the time. They can't issue more as they progress those offers, it would change the offers.

GLA

The part you're missing Ian, is they can only issue shares after the FSP is concluded, so in a scenario of a asset sale and move to the Rosgeo JV, there is no shooting in the foot, in fact a rights issue would allow shareholders to help fund the first Rosgeo JV asset with part of the proceeds they receive from a special divi from an asset sale. This has been very carefully thought out, every option is financially secured going forward from this point.

GLA

GLA

The BOD and the advisers have played an absolute blinder with it all Aviz, every move is calculated to extract maximum value. When you look at the entire picture, it makes you wonder how this was just a tiny little AIM tiddler floating around at one point doesn't it. The entire time they've been sat on the mother load, a PGM and battery metals district.

GLA

What could have possibly slowed that stage down, didn't NN take around 30 days to win a previous bidding war?. We can not know for certain, but look at how the picture has developed since the 8 week marker passed, chunk of value adding bait after chunk of value adding bait. If we're excited, can you imagine how the parties who have full acquisition offers in are feeling?

GLA

What does next week mark, how much news have we had since the 8 week marker passed, we've had quite a lot haven't we?

"14th Jan 2021 7:00 am RNS Update on Formal Sale Process"

DFS, Rosgeo JV, and everything on Friday has landed between the 8 week mark and now!

GLA

It's part of what we're voting for -

"a) the allotment of equity securities in connection with an offer by way of a rights issue to the holders of ordinary shares in proportion (as nearly as may be practicable) to their respective holdings"

It is not to say it is happening, but once voted through the BOD can indeed do such things.

GLA

Think about the timing of it Aviz, the FSP and non-binding offers being progressed is not exactly a new thing is it, things have been going on a good while now.

GLA

As CAW has pointed out, they can't issue any shares while the FSP is going on, so decide yourself what that EGM could mean.

GLA

Yes it's possible, cash for the rights issue as shareholders would have a chunk of cash and free ride into the Rosgeo JV. It's certainly very plausible with what we've been given recently tbh.

The new director is essentially a direct link to Japanese investment and off takers, that would be handy for taking multiple JV assets into production.

All in all, Eurasia are in a massive position of strength right now.

WK will more than likely start processing this coming week as water begins to flow again as well.

GLA

No, in a full acquisition he will go to the buyer. He's essentially a direct link to Japanese markets when you read it. Talk of fuel cells and cleaning up nuclear power plant water hints towards a direct link to off takers over there, but, that's just one string of many on his bow tbh.

GLA

oldspursfan, this is why it will pay to read things a few times over the weekend to absorb exactly what is said in both the RNS and the circular. It's all positive no matter which way you slice it.

The green boxes will try all sorts of lame nonsense attempts over the weekend, it's always best just to filter them and leave them to it. All genuine shareholders know that they're only here to disrupt and try to cause doubt, so their posts are absolutely pointless at this stage. Because they persist, even when all the facts are stacked against them, their agenda only becomes more clear to anyone reading their nonsense.

GLA

I agree CAW, the FSP would have to be concluded for it to happen. I was thinking in the shower there, would that whole rights issue in effect allow shareholders to fund the first JV asset to production?

GLA

It all depends on the exact route it takes going forward Marshal to be fair. If they got Volchetundra back then even the figures you quote would be cheap in a long term scenario. I did calcs a long time ago using a average resource per km2 with the info we know for the wider area which would include Volchetundra. The start of Volchetundra is 5km away from Monchegorak, so it's very feasible at this stage that we would indeed be heading back to that area also. Recent developments point to full government support for the new PGM and battery metal district, it's a story with so many chapters left imho.

All will be revealed in time however, i think they've done a very good job with the recent reveals. Friday after hours is prime time bomb dropping time.

GLA

That's quite a range Marshal lol. Were you awake when the call happened or what?

GLA

armybarmy, just green bin the one you mention. It's only here to disrupt and trust me when i say that you're just wasting your time replying to it, i've been there and got the t-shirt.

GLA

Certainly mjs94, they have stated that they want to maximise shareholder value, that route would certainly be the way to do it when you have first mover position on such a large district. The other mind boggler is that they could also move back to Volchetundra at some stage and just keep going on a rinse and repeat basis over this next decade. Multiple sales, theoretically dragging many special divi payments out of it all. It could keep UBS with a M&A stream for quite some time if you begin to look at things that way.

The position they're in is second to none tbh, and it's fantastic to be a shareholder in it all.

GLA

Yes Jobrads, it could point to the 15Moz being sold and them heading into the Rosgeo JV full guns blazing tbh, we're going to find out shortly i think as the news has been regular lately. I would prefer the sell 15Moz now and head to the JV personally as it would create far greater value in the medium to long term. The option for 100% of the JV assets is pretty mouth watering, throw a couple into production and it's dividend galore at some point. That would mean a large special divi now from the MT sale, a SP representative of in production large assets later on and also dividends from those large producing assets. I think the current team is strong enough to go down that route tbh, but, like everything else so far, we'll just have to wait and see.

They love those after hours RNS to catch everyone out don't they!

GLA

The way that is worded, asset sales or a full company sale. It's all positive, they could sell the MT 15Moz and get a fat payout now and roll into the Rosgeo JV with plenty of money and backed by Asian parties, or, they could sell the entire company for some crazy figure. Either way, whatever they have chosen is being progressed. That quote is in the circular by the way.

Both routes lead to full treasure chests arrrrggggghhhhhhhhhhh

GLA