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Good place to start for anyone looking at PMA: http://www.premiermgt.info/Premier_Mgt/Information_in_relation_to_Reverse_take_over_of_Central_Asia_resources_Ltd._files/Central%20Asia%20Resources_Admission%20Document.pdf
When i said earlier that we had bought a company worth £14m, this is incorrect. CAR has next to nothing on their accounts. Its the underlying companies attached that are worth something.
Looks like they will be drilling in July - October this year. http://www.premiermgt.info/Premier_Mgt/Information_in_relation_to_Reverse_take_over_of_Central_Asia_resources_Ltd._files/Central%20Asia%20Resources_Admission%20Document.pdf Page 93
"Although the Enlarged Group does not currently require funding and has funds in place for the current exploration work, it will require additional financial resources to fund its future expansion and any exploration work beyond 2012"
Yes the fact that they managed placing's at 3p means that this price should be easily achieved. Also note that they could realise some of that intangible value from the sale of the lithium licence. "In addition to Cholokkaindy, Premier Gold acquired a lithium licence, Uzunbulak, with the acquisition of Central Asia Resources Ltd. The Company is focused on gold exploration and, as such, considers Uzunbulak as non-core and intends to divest it in the near future."
The way i see it, since the SP was suspended at 0.76p, we added 83,333,333 shares at a significant premium. This should have added instant value to the current SP today upon recommencement. So solely based on the additional shares we should be at 1.06p. I had a look and it seems as though the SP was trading at about 100% premium to NAV when it was suspended. That means the CAR assets would have been diluted by this premium so what was once a company worth over £14m will now be worth less. Im still struggling to attribute a value to what i think the SP should be today. One thing is for certain that it should definately be more than 1p, maybe even 2p, so i would say its definately worth buying at these levels.
Its a confusing one. The combined shares of 528,745,125 @ 0.76p + 83,333,333 @ 3p gives you an average of 1.065p. But we got a company worth £14m and our market cap is only about £5.5m. I think we should be closer to 2p but im pretty confused. I'll need to do more research.
Pretty sweet deal then. I already bought this morning but just trying to get my head around a valuation for the current SP.
Looking at Central Asia Resources accounts the Net Assets were about £14m. How much did PMA pay for them?
Im invested in vir and just thought id check in to see whats going on in here. In my opinion, i think BRDY is a RTO just waiting to happen, and if that doesn't materialise, then they will do a placing to raise funds and follow in the footsteps of viridas and the other companies (ldp/zol/etc). What u guys think is going on?
Anyone got any comments on the WSAG RNS? "Going forward, the Directors of Woodburne expect to assist its existing portfolio companies to enhance their respective valuations. Such enhancements can include: introducing take-off buyers, facilitating access to capital markets, and sharing of strategic market knowledge." "Assist its existing portfolio companies", they still hold BRDY don't they?
There are 57,747,192 shares, 40% are not held in public hands. So that leaves 34,648,315 shares in public domain. http://www.bradyexploration.com/html/significant_shareholders.html
"The Independent Directors believe that enhanced Shareholder value can be generated through the implementation of the Company’s proposed Investing Policy in the natural resources sector, including opportunities for the acquisition of a business with greater growth prospects than those anticipated within Capcon Limited and with a more substantial capital base. Any such acquisition would be likely to constitute a reverse takeover transaction of the Company under the AIM Rules and would be subject to, inter alia, Shareholders’ approval. The Independent Directors also believe that the Company should, as a result, attract a greater level of external investor interest and enhanced value resulting in future opportunities for raising equity funds for supporting the growth of the enlarged group." Specifically, "Any such acquisition would be likely to constitute a reverse takeover transaction of the Company under the AIM Rules"
Guys if you haven't already, you should definately read the circular in its entirity. Has ALOT of info. and might give you ideas. http://www.bradyexploration.com/publications/Circular%20re%20Disposal%20and%20Placing%2010102011.pdf