Member Info for optimist13

Just found this link with details on how Metminco are raising the funds. Interestingly, it is above their share price yesterday, but below the conversion price to Sunshine. More importantly, at the issue price, it still gives Gunsynd a good profit on their investment.

"In order to proceed with Jejevo, Metminco must raise AU$3 million through equity capital raising and also successfully complete its due diligence.

To get to AU$3 million, Metminco said it would issue a private placement of 135 million shares at AU$0.4c to raise AU$540,000, and another AU$2,514,116 through a pro rata renounceable rights issue.

Jejevo is described by Metminco as having “attractive nickel grades” and a project that provides the company exposure to nickel prices “in a period when demand growth is expected to be driven by, in particular, the growing market for batteries to support increasing electric vehicle production.”

https://investingnews.com/daily/resource-investing/base-metals-investing/nickel-investing/gold-focused-metminco-dips-toes-nickel/

Well, at least the buys are showing as buys today.

I wonder how log it will take to complete the due diligence on the Comarco ports investment. The location of the port appears ideal for the transfer of goods to many parts of Africa. It makes you wonder what DL has planned or if Comarco is big enough to justify an RTO.

You have to laugh...the MM's are paying over 20% more than the published bid for shares.

Okay, so how much is a tanker full of oil worth and how much oil will have been sold from Horse Hill in the intervening period.

I have seen mention of up to 1000 barrels of oil per day if the Kimmeridge layer is perforated successfully.

Good trading for Ananda and Sativa on NEX at the moment. The mkt caps of both companies reflect optimism in the medical cannabis space. Let's hope we have a good interim report and news of our first medical cannabis and then maybe our share price will reflect some optimism.

that would be IYHO. If the Horsehill area proves to hold as much oil as some predict and the other UKOG investments prove to be successful, then who knows how the market will value UKOG. BTW, I am not invested in UKOG, but have been listening to both sides of the debate.

Either way, I am sure Gunsynd will make a good profit on their HHDL investment. I remember people on here writing off the HHDL investment and the Sunshine investment as well.

Further news coverage:

http://www.morningstar.co.uk/uk/news/AN_1537354077802999200/metminco-to-acquire-majority-stake-in-nickel-and-bauxite-projects-(alliss).aspx

Extract:

Metminco Executive Chairman Kevin Wilson said: "The acquisition of the Jejevo Nickel Project, gives Metminco exposure to nickel at a time when rising battery manufacture is expected to accelerate demand for the metal. We will commence advancing Jejevo as soon as the acquisition completes."

"Together with our Quinchia Gold Project we now have two advanced exploration projects that we believe offer near term development potential."

Gunsynd Executive Chairman Hamish Harris said: "The board is pleased to have, conditional on completion, been able to once again swap its exposure from a private company to that of a listed company whilst at the same time enabling Sunshine to access funding and move the project towards mining.

"The transaction also removes the need for any potential future funding by Gunsynd. The Company, however, maintains its exposure to the upside potential of the project and now has the ability to realise the investment at an appropriate time."

Shares in Gunsynd were up 11% Wednesday at 0.025 pence each. Metminco shares were untraded but last closed at 0.35p each.

By Paul McGowan; paulmcgowan@alliancenews.com

all buys across both exchanges today so far. Moving up now:

12:13:06 0.0268 2,500,000 O 0.0200 0.0280 Buy 27,196,559 0
11:36:31 0.0250 2,000,000 O 0.0200 0.0250 Buy 24,696,559 0
09:44:53 0.0249 1,957,851 O 0.0200 0.0250 Buy 22,696,559 0
09:42:45 0.0248 20,161,290 O 0.0200 0.0250 Buy 20,738,708 0
08:26:24 0.0248 110,080 O 0.0200 0.0250 Buy 577,418 0
08:07:41 0.0248 467,338 O 0.0200 0.0250 Buy 467,338 0

NEX
19/09/2018 11:33 1,964,200 0.025
19/09/2018 11:02 2,000,000 0.025

There must be a delayed sell. Only one trade showing across both exchanges, and that is a small buy.

rossannan, I think many would argue that UKOG is not overvalued and I doubt Hamish would sell the shares if the transaction completed tomorrow.

rossannan, I don't understand the point you are making. The deal has been agreed with UKOG and we are awaiting confirmation from the Horse Hill partners that they approve the deal. Further drilling is underway at Horse Hill which could lead to a significant increase in the oil reserves. Either way, the value of our stake will rise significantly on confirmation of the successful drilling.

http://www.proactiveinvestors.co.uk/companies/news/205207/metminco-joins-electric-vehicle-charge-with-nickel-acquisition-205207.html

Metminco will raise A$3mln to fund both development of Jejevo, which is on Santa Isabel Island, and its Colombian gold prospects at Quinchia.
Junior explorer Metiminco Limited (LON:MNC) is adding a nickel string to its bow with the acquisition of a direct shipping project in the Solomon Islands.

The Jejevo nickel laterite project has an estimated exploration target resource of 10Mt-15Mt at grades of approximately 1.1%-1.3% based on drilling by former licence holders Inco and Sumitumo.

Metminco will raise A$3mln to fund both development of Jejevo, which is on Santa Isabel Island, and its Colombian gold prospects at Quinchia.

The junior added it will cancel its AIM listing following the acquisition due to the cost and low activity in London, though the listing on the ASX will remain.

Kevin Wilson, executive chairman, said: "The acquisition of the Jejevo Nickel Project, gives Metminco exposure to nickel at a time when rising battery manufacture is expected to accelerate demand for the metal.

“We will commence advancing Jejevo as soon as the acquisition completes.

“Together with our Quinchia Gold Project we now have two advanced exploration projects that we believe offer near term development potential."

Through the deal, Metminco will acquire 100% of the issued capital of Sunshine Metals, which holds 80% of Jejevo, as well as an 80% interest in an early stage bauxite prospect, the Tausere Project, located on the southern coastline of Choiseul Island.

rossannan- no it is not. It is suspended on AIM, but not on ASX. Read the posts below.

SlowRoll - you are welcome. I think our investment in Horse Hill, which will revert to a share holding in UKOG will give us an excellent return on our investment. Expect further updates from UKOG in the next week, which could see a material increase in their share price.

should be the next investee company to announce a corporate transaction. Expect we will see a sizeable return on our investment if the growth figures on their website are to be believed.

share price now creeping up after the successful placing. We are sitting on a 100%+ profit at the moment and that is likely to rise further when the next set of news arrives.

Market Announcement
19 September 2018
19 September 2018 Market Announcement 1/1
ASX Limited ASX Customer Service Centre 131 279 | asx.com.au
Metminco Limited (ASX: MNC) – Reinstatement to Official
Quotation
Description
The suspension of trading in the securities of Metminco Limited (‘MNC’) will be lifted immediately, following
the release by MNC of an announcement regarding an acquisition and capital raising.
Issued by
Cheng Tang
Senior Adviser, Listings Compliance (Melbourne)

http://www.metminco.com.au/site/PDF/2676_1/ReinstatementtoOfficialQuotation

Links:

https://www.miningnews.net/m-a/news/1346953/metminco-to-try-laterite-nickel-venture-in-solomon-islands

http://www.miningweekly.com/article/metminco-plans-acquisition-and-funding-announcement-2018-09-17

https://finfeed.com/small-caps/mining/metminco-signs-term-sheet-acquire-dso-nickel-bauxite-play/

Just carried out a rough calculation. If all the conditions are met, at the Metminco share price of A$ 0.006, Gunsynd's 19.8% of Sunshine will be worth £652k.

Metminco are cancelling their AIM admission, so will not be lifting their suspension. opting to list solely on ASX.