Member Info for RMR1969

Very happy for all holders here, faith in the BOD has been rewarded it would seem.

Looking forward to further news in the days ahead which should put a little more meat on the bones, maybe even in the morning......!

'Significant dividend' sounds interesting, and it looks like we get to retain our shares to further benefit over the coming years in what has become a very lucrative market.

Will be fascinating to see how the market responds in the morning if there is no further details before then.

Have a great evening.

Not so sure that it is that strange to be fair, the FSP has been ongoing for nigh on 10 months and we simply appear to have found an 'equilibrium' at a very low volume.

Many days we only trade around 1/5 of 1% shares in issue, that is very low, and simply won't give any real cause for the price to change.

There is little in it for traders and LTHs have taken positions and I believe are only selling when they really have to or get bored and the more recent buyers perhaps have a higher average price than current so are reluctant to drop out now also.

A mere waiting game.

Agreed CAW1, an update is due IMO.

I do take some comfort however that the Takeover Panel must be reasonably happy and comfortable with what is happening to have not moved in. Previously people here have suggested that the Panel forced earlier updates, I am not sure that is true.

All that said, what with the time elapsed since the last update in January, the EGM, the request for investors to vote in favour of the Resolution and the subsequent passing of that Resolution, all makes me feel like we are owed something very soon.

The Takeover Panel has of yet apparently stayed away so maybe a date for some form of announcement has already been set, we just don't know it yet? They have had 2 weeks already to utilise the shareholder support demonstrated, so within the next 2 weeks is my guess.

HappyScot - not sure, but going by the last RNS from the BOD:

Regarding questions received from our members to put to the Board at the General Meeting:
· Eurasia will update on Monchetundra, West Kytlim and other Eurasia matters as soon as practicable.
· The Company will update on progress of the FSP when appropriate.
· The timing of the AGM for 2021 is as required by Companies Act guidance, i.e., by the end of June 2021.

Following the call for the EGM and the request of the company for investors to support their motion, plenty on here discussed the reason for this and what the money was going to be used for, almost as though it was a certainty that the company was looking for additional funds for something. Well that hasn't happened.

We are now 2 weeks since the EGM and not a whisper, is everyone now of the view that a raise was never the intention, just the ability to do it...? If it were going to happen we would surely have heard something by now, it would have undoubtedly been all lined up in the background?

As I understand it there is a requirement of 3 weeks notice for an AGM, the AGM has to be done by end of June, so Wed 30th is the latest possible time, 3 weeks notice brings us back to the 9th June, we are now 11th May, so 4 weeks exactly within which to get some form of update? Having gone to the all the trouble of arranging the EGM, surely to goodness we will not get notice of the AGM without an update of sorts..?

IMO, since the EGM was done is such a 'hurry' - one would have to assume it was more likely to hear something sooner rather than later so for me that puts it within the next 2 weeks.

GLA, getting a little bored now......but absolutely in until the end.

Billions

Not sure the SH's at Sibayne will be very bothered..............and I think the same will stand for the shareholders of whoever gets involved here.

With Palladium predicted to hit $6k per oz then the mere 2.2m oz of JORC metal at MT, IGNORING EVERYTHING ELSE, would be worth $6.6b more than it is today, yes it has to be dug out, but those AISCs will not change that much, so that $6.6b will be mostly PROFIT. That is just the 2.2m oz.......!

What shareholders are going to complain about that...........show me any sensible and informed report that seriously suggests metal prices are going to decrease any time soon.........if ever!

Billions

Not sure the SH's at Sibayne will be very bothered..............and I think the same will stand for the shareholders of whoever gets involved here.

With Palladium predicted to hit $6k per oz then the mere 2.2m oz of JORC metal at MT, IGNORING EVERYTHING ELSE, would be worth $6.6b more than it is today, yes it has to be dug out, but those AISCs will not change that much, so that $6.6b will be mostly PROFIT. That is just the 2.2m oz.......!

What shareholders are going to complain about that...........show me any sensible and informed report that seriously suggests metal prices are going to decrease any time soon.........if ever!

Very interesting read.

EBITDA in the one quarter was MORE than they paid for the acquisition of Stillwater.

I mentioned this on here previously, if we use just the JORC 2.2m oz at MT and ignore EVERYTHING else then anyone who had bought us at the start of the FSP would have grown their asset value by nearly $2.5b by doing absolutely nothing! And that ignores so much else such as the MT district, WK, Semenovsky, JV with Rosgeo.........

With palladium predicted to move up continuously for a number of years and $6k per oz recently muted as the next level, the sums add up incredibly and I am sure this is not lost on businesses and countries alike!

Billions

Of course you can average out the industry and extend the number of years to drive the average down - for mining this is around 40-45% - but within that there are of course premiums which are much greater, and some much lower.

Many here believe, due to many and various factors, that we would most likely be at the top end, maybe even the very top.

Here are 5 from 2017 ranging from 382% to 1,066%......................

https://www.bvresources.com/blogs/bvwire-news/2018/07/31/how-high-were-m-a-premiums-last-year-see-the-five-highest-premiums-offered

MadStork

Perhaps this may help explain and I am honestly not trying to be patronising but I feel gives a good example - imagine the art world, imagine all the Picassos paintings in the world. Well, we know they are worth a lot, we don't know exactly what each one is worth, we may know what it sold for when it last became available, but that really is our only idea to try and value them.

Then one day a 12 inch by 12 inch Picasso comes up at Sothebys, never before been for sale, found in an old lady's attic, it sells to a Chinese collector for £200m.

What does that now mean for every Picasso in the world, well it probably means that they have gone up in value, if I had one which was 24 inches by 24 inches would it necessarily be worth 4 times as much.........who knows, I would only ever know at the point I came to sell it, I would only be guessing before that, still only have previous sales to judge on.

Point is, we never know the value of anything until it is sold and we see what someone is prepared to pay for it, many businesses never come up for sale and therefore we never truly understand their value.

Maybe SSW is worth significantly more than MCap suggests, I actually suspect it is, maybe in time it will return that value to shareholders in various ways, maybe it will never come up for sale in our life time and we will never know.......

MadStork - surely you are not so naive to believe that companies are actually worth whatever their MCap says it is.....?

I would doubt any company ever has been sold for it's MCap. Some companies get sold at hefty premiums, it happens all the time, others collapse never to be heard of again due to a myriad of reasons, but one thing is absolutely and definitely true - the MCap of a company is a rather arbitrary figure and rarely, if ever, represents what a business is actually worth.

I imagine this is especially true when you are operating in a PGM world with a very limited supply and also happen to operating at a time of world record demand..........

Ethio

I think you are getting quite confused.

DS does have 465m shares but that includes those owned through his controlling interest in Deloan.

Deloan do not as far as I know own Queeld, I think you have that very wrong.

Ownership of Queeld is shrouded in some mystery to be honest, but there appears to be some Russian and Cypriot involvement. They did not report their holding at the out set of the FSP and it was left to EUA to do it for them as best they understood the situation.

MadStork

I take your comment to a point, however most of the BOD already own many millions of shares, sure DS could have added to his 465m odd but perhaps he felt little need, I am sure he has other things to spend his money on and maybe did not wish to tie it up for what he may have envisaged could be a significant period of time, he would have been right too as we see now. Nobody puts all their eggs in one basket now do they?

Had the BOD all started buying ridiculous amounts of shares it would also have driven the share price up very quickly at that time so their ability to buy millions at the very low price would have been somewhat limited I suspect.

TBBT

With respect, I suspect you are not a major multinational mining company with millions of shareholders and II's operating on a world stage.

But I could be wrong............!

I really don't think you offering to buy a business for even a few hundred grand is quite the same.

I see you have posted a number of times with ‘concerns’ that whilst EUA were for sale, no one had previously made an offer as if they had it would have to have been shared (prior to FSP), and that you had received no reason as to why that should be.

Well perhaps discussions were had years ago and figures suggested but the BOD knowing what they were sitting on decided that they would not be getting proper value at that stage and told prospective buyers that their figures were not high enough. I am sure even at that stage our BOD, who are no fools, could visualise where the market was heading and also perhaps understood how they could continue to extract added value through additional licences and testing.

With the BOD holding such a significant number of shares any buyer would be clear that without their support any offer not agreeable to them would fail and therefore perhaps they refrained from formally submitting anything.

No company wants the ignominy of making an offer which is flatly rejected.

It’s all conjecture of course but IMO offers at least one possible and reasonable answer to your concern.

I can't take any credit, it was posted by CAW1.

Just looked intriguing, not many Japanese companies with $21b revenue LY.

Annual Results on May 13th which is a week on Thursday....!

Worth keeping an watchful eye on those when they are announced.

Can't take any credit, it was CAW1 who posted it, just sounded intriguing and yes, May 13th is a Thursday, it is down as their Annual Results announcement so will be worth a look.

Could be nothing, but the numbers stack up, how many Japanese companies had annual revenue LY of $21b.......?

Little surprised there was not a little more posts regarding CAW1's post from yesterday regarding Orix - they have $35.325b cash at hand, according to their website 'cash on hand' can be defined as cash deposits at financial institutions that can immediately be withdrawn at any time, and investments maturing in one year or less that are highly liquid and therefore regarded as cash equivalents and reported with or near cash line items.

They also have an EOY results meeting booked in on May 13th.......

Revenue for LY was $21b, seems a huge coincidence to me.........it must be the company referred to in the last RNS IMO.

I don’t post here often at all like many others because there are far more knowledgeable people here, however I do catch up daily because I have a 7 figure holding with an average in low teens.

I have seen the SP fluctuation like everyone else particularly pre and post results and the pattern that has emerged. It is no longer a surprise but the business is very strong and I am holding because I believe in GGP over the mid to long term.

It strikes me that too many people came in here over the last 12 months expecting quick returns which rarely happen.

You have to remember that the people who got in at less than 2p (myself included) have already waited 18 months since then, those with lower entry points perhaps 3 years.

Fortunes are seldom made in weeks or months.

Well done to the very LTHs and good luck to everyone else but let’s stop expecting ridiculous miracles and price increases in unrealistic timeframes.

That’s it, said it now, got it off my chest, I will return to read only mode.

Best wishes to all.