Member Info for paul30661

sorry, but the radio silence from the co. (when they referred to a news rich period) begs the question that if they can't get that simple thing right what else can they not get right?
As I mentioned before, even a news update saying no news yet because of a) b) or c) but hopefully an announcement in 1, 2, 3 months time, would be informative.
An update on where we are with splashing cash on the possible tin venture would be useful too - as by my reckoning, that is way past the initial timeline given.

I don't necessarily think a video of some drilling rig, but having stated to expect a 'news rich period' he should perhaps define what he meant?
On the basis of what he said, most of us - and I don't believe we're being unreasonable, would have expected news by now.
A statement by the co. as to why there are delays in providing us with more information and /or an update on when we might realistically expect something tangible would be welcome, but also go a long way to re-establishing the loss of confidence that an increasing number of people must now feel.
At the moment, radio silence from the company having given the previous 'news rich period' statement makes them look, at best inept, but at worst, incompetent.

And when might this 'soon' be then trader?
(otherwise your 'news' is more just like another brokers note!)

I agree with Morbox. HL not the cheapest - particularly if looking at investing in funds, but they do have good customer service, a quick, reliable website, a very useful and easy to use mobile app (with trading) and in my experience, divi's are paid and available to invest on the due date.
I've been with HL for decades, I've tried others but none have been as good or reliable as HL.
Unlike others who are suggesting trading cfd's and the like, I'd suggest that if you are looking to invest £ 500 each time, you probably ought to stick with an index fund rather than direct shares, in which case, look at vanguard funds, either index or one of their lifestrategy funds.

I wasn't necessarily expecting an announcement from dlg, but has anyone seen any market reports with possible explanations for yesterdays move ?
I agree that regardless of whether an activist of bidder comes along, dlg is currently a good dividend yield - but then so was Vod, BT, RDSB, LLOY, etc right up to the point that they weren't.
I did top up my existing holding here yesterday even though I appreciate there is now quite a wait until the next divi payout.
I'm not sure that the dividend cover is that comfortable to not worry about a rebalancing if their markets slip.

Thanks Mary, It could well be a case of no smoke without fire. They were on my list to top up my weighting in any case, and at £ 2.95, still represent good value.
I suspect that the price spike is either a leaked approach or maybe an activist investor looking to stoke things up and release value to long suffering shareholders.
If it is an approach, then possibly an announcement later on tomorrow (Fri) afternoon or more likely a leak to the sunday papers /Sky business over the weekend and an announcement pre-market monday.
I just wonder if it is someone like Aviva looking to invest their overseas sales monies on more UK assets (which they've indicated they want to focus on) ?
As to price then yes, £ 4.00 would be a round figure to aim for. If a bidder wanted to smoke out and fight with others then an opening shot at perhaps £ 3.80, but if they wanted a knock out agreed bid first off, then it would need to be more £ 4.25 - £ 4.50 territory.
Just my opinion and if by some fluke, it comes to fruition, I'll submit my £ 1m invoice for banker fees to DLG asap!

It'll be a merger, not a takeover imho

I've reinvested some divi's from elsewhere to top up my holding.
I can't see it going down much relative to the potential upside here.
I've been in since 11p and have watched it go up to 20p down to 2p up to 40p+ and back down to 15p and now.

Compared to some other miners there are not too many shares in issue, so, so long as they don't issue shares or options to dilute us, then we should see the (potentially substantial) benefits of any further discoveries.

The one niggle to me is that if the larger miners can see such potential here, given the £ 30 odd million capitalisation of the the entire company, why are they not buying OMI now rather than waiting for the results of the drilling tests (that they're paying for) and the price (hopefully) skyrocketing ?

Here's hoping for some more news soon...

You're right - no bid tabled and may not even happen (yet) but hopefully it will scare the be'jesus out of the shorters though.

If you look back through a lot of the results announcements, FRES has an annoying habit of announcing lower production and /or lower quality and /or lower reserves every time.
The companies management is lacking either in how they run their operations and /or how they update the market.
IMO this is a key factor as to what is holding FRES back.
The price moves up (eventually) because of the silver price not because of anything the co. does.

Siris is required, by not later than 5.00 p.m. on 17 May 2021, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company.

The parties can agree to extend this deadline should they wish.

29-4-21 - BERENBERG RAISES EQUINITI PRICE TARGET TO 180 (110) PENCE - 'HOLD'
a shameless triumph of hindsight from Berenberg - presumably so they can add it to their stats that the price met their target?

Same here. Have increased my position x20 from yesterday and after previously bailing out at £ 10.
Fres has a nasty habit of tanking on results day, and today's figures weren't even the usual usual of lower grade and lower production.
Looking for a bounce in the short term and you never know, maybe the silver squeeze ramping will catch hold again.

I think this company has been under poor management for years and the expansion into the US was both poorly timed and poorly managed.
Like others I kicked myself for not selling at £3 but fortunately I only had c. 1% of portfolio here so stuck with it hoping that it might come good - it never did.
Given the last set of results and the tone from the BOD outlook (base more on hope than skill) plus the lack of dividend or dividend policy, left an open goal for a bidder (who they already knew was in the wings).
The old CEO went because the rest of the BOD had to be seen to sacrifice someone.

I posted in January when the sp was c. £1 that this surely had to be a top takeover candidate for 2021. Alas I didn't follow my own advice and fill my boots until the 3rd /4th ? approach was leaked to Sky.

So after a year of on/off discussions with Siris (4-5 approaches - not disclosed to shareholders) the BOD have managed to get another 10p (6%).
That tells you how effective they are really!

At least they have accepted they are for sale so, as others have said, it may attract other bidders or activist investors to come forward?

The BOD may well reject the 170p offer (if made) but their long suffering shareholders might well be willing to take it given that the BOD have completely failed over a prolonged period to achieve anything of note other than massive shareholder capital destruction.
it is only because the 3rd or 4th approach by Siris was leaked /picked up by Sky, that the SP here is no longer at or below £1

The BOD have zero credibility to defend against a bid, whether this or another one.
They've known that this suitor has been in the wings for months (but didn't disclose the previous approaches to the market) and the recent results provided them the best opportunity to come up with some reason as to why they should remain in charge.
Despite awarding themselves more options - they couldn't even see themselves to reinstating the dividend, not even a token amount.
They have singularly failed to demonstrate any management ability or confidence in being able to continue.
Their only hope now is to attract a white knight at a higher price, but I doubt they could organise that - they're probably too busy awarding themselves more options.

yes, but depends whether this starts a bidding war.
Is 170p the opening shot or, given the recent results, a full price ?
I suspect there may be more to come but I will certainly lighten my position at 170p

Diabolical performance and shareholder capital destruction but 2 million shares awarded today to the BOD!
all aboard the gravy train!

A shameful performance by the BOD.
It has to be open goal to a bidder now