This has to be the bottom IMO. Reminds me of VRS recently at 1.10p-today it is 4p.
I agree that we could clear 10p in a flash once this gets going and the overhang has cleared. Only a matter of time IMO. My target price is 15p this month.
Patience Mick, patience.
DYOR
Hey Neil,
I am well, thanks. Let's see where they take it in the next few sessions. Could spike to 0.60p or higher IMO depending on news flow or behind the scenes.
0.40p seems to be the floor.
Good luck mate
Seems to me like the current SP could present a decent risk reward for the short/medium term.
DYOR
"Statement regarding possible offer
The Board of Amur Minerals Corporation notes the announcement yesterday afternoon by Ascent Resources plc ("Ascent") setting out the terms of a non-binding indicative proposal regarding a possible share offer for the entire issued and to be issued share capital of Amur by Ascent.
Since Q4 2022, and in advance of the completion of the sale of its Kun-Manie Nickel Copper project in the Russian Federation (the "Sale"), Amur has been conducting various high level evaluations and assessments of international private and public resource companies and projects. However, until the Sale had completed and the dividend payment process been announced, the Board has been restricted in its ability to advance discussions with potentially interested parties which included Ascent. The terms of the proposed transaction announced by Ascent were new to the Board and accordingly, it will consider these with regard to this opportunity.
Given the indicative nature of the proposed offer, shareholders are advised to take no action at this stage. There can be no certainty that an offer will be made for Amur, or the terms on which any such offer will be made.
Further announcements will be made as appropriate."
GreenWolf,
There are major shareholders who have voted in favour of the deal and I would not expect them to walk away without anything as they have influence on the board. The board is required to set out all scenarios in the RNS which they have done. In my view, the floor is 0.65p return, could be higher if there is more money in the pot which I suspect there could be.
Even after cancellation on 16 June assuming the vote goes through (75% votes required) shareholders holding will still receive cash as part of the distribution post cancellation.
We could see a spike to 0.80p in my view between now and 16 June. This is purely a punt and not an investment :-)
DYOR
This looks like a good punt to me down here as the shares will trade until 16 June 2023 which is the proposed cancellation date:
"Assuming the passing of the Cancellation Resolution, which will be conditional upon the passing of the Proposed Sale Resolution and Completion, it is expected that the Cancellation will take place on 16 June 2023."
The floor price is 0.65p in my view, if there is more in the pot or if another bidder emerges, the SP could hit 1p easy IMO.
DYOR