Member Info for sasa43

Hi gwm - I sure do for both when they next report...

Haven't followed Medusa for a long time now, I'm afraid, preferring HGM & POLY as much more productive entities, holding decent positions in both. I'm also well into the, well funded, Canadian 'wannabe' miner, PUR, on AIM (first gold pour due before Christmas) if you're interested.

I don't usually like promoting other shs on a dedicated bb but PUR looks like a major success in the making if you're after another 'goldie', imv - sasa.

Yep, provided they don't sell any more or all of 'em, Early_B - then what? - sasa.

Agreed graking - that the sp here has put on a tad more this morning, after another positive RNS on the drilling front, despite the small correction in the gold price, suggests that a recovery in AU / AG prices shortly, should see a further rally in PUR's price level.

Had 'goldies' been strong again this morning, I have little doubt that we'd be back up to 140p or more - the positive story here continues... sasa.

Hi Dartron - well, with such an overweighting in the pm sector, you will have done very well and those taking a profit, especially a good one, don't go bust.

Planning an exit strategy from a successful experience is always difficult, although a nice problem to have.

With AU and AG now on something of a tear, I tend to get nervous when the 'world and his wife' all want in but the Instos are still much underweight in this space, by all accounts and when they climb on board, prices could move significantly higher.

Ergo, I'm sticking with my, unusually high, 40% involvement for now but when the clamour 'it's different this time' gathers pace, then I, too, will begin to lighten up on the pm sector.

It might well be different this time, given the parlous state of indebtedness almost everywhere but there's no sign of that developing yet - maybe we'll see it emerging just before the y/e when the fund managers position themselves for the upcoming rankings in the performance tables - they all like to be seen to be involved with the most productive asset class of the year for their y/e reports, don't they? Just my take, anyway, fwiw - sasa.

About time POLY shrugged off the waywardness of late - a decent divd hike looks on the cards next time, after todays Q2 outcome - sasa.

Even more significant, topshare, is that KM's discovery is nickel sulphide - ideal for batteries, whereas most discoveries nowadays are nickel laterite ores (need processing to get to battery suitability) and commercial finds are relatively scarce with only a 1: 4 chance of finding sulphides, even then...

Ergo, we're fortunate to have the more desirable stuff, in quantity, too! - sasa.

tacet - that rise to 44p odd five years ago was a result of AMC being awarded their mining licence post the certificate of discovery they received much earlier. Many thought they wouldn't / couldn't get it but RY managed to obtain that official licence to mine KM with 100% ownership of whatever they produced.

Not unnaturally, quite a few LTH's like me, thought that that news, adding sudden credibility to the whole project, would culminate in a bid for the company but it never happened, hence the steady relapse in the sp since...

But that was then - today, with the EV impetus gathering pace, things look quite different, so who knows what might yet transpire? - sasa.

Generally agree your comments on HGM of late, t_s - the next figs. should see a reasonable boost on the back of the much higher gold price and likely increase in the divd, too.

The shs are already yielding a safe 6% currently, so a good recovery in the sp looks well overdue to me - sasa.

Agreed, REDDINGTON - sasa.

He comments on T/A - something I know nothing about but as many pros use it to augment their timing angle on things, it's worth paying attention to its influence, even though I've never been a trader, myself.

He's been on here for yonks, too, like me and all useful commentaries are worth considering, imv - sasa.

I think the crucial aspect right now, Sparky, is - 'have the home team got over the 50% control limit yet'?

Danawinner, the other day, suggested that they had and, if so, the chance of a counter bid is zero. I can't really see the Instos buying RRE now just to make an extra 12p over the next few weeks on that premise - less than a 1% return is hardly worth it...

Only if the deal is successfully challenged legally and the terms improved in consequence would that be worthwhile but, as it is, it seems it's game over, if they've got over the 50% mark. A great shame but there you are - I've moved on now and don't normally comment on shs I no longer hold, so good luck if you're still in here - sasa.

Hi KUMS - I think we both got into this one fairly early on, so it's nice to see such a spirited performance since. They must now have a prospective $1,000 profit margin per oz as we get near to their first 'gold pour' and not many other miners can claim that!

Hope their exceptional drilling results continue to add much more grist to the mill as we approach that event - the sp could well be a good deal higher by then, accordingly... sasa.

Hi MTSparky - two factors account for the current disparity you mention. Firstly, the, albeit agreed, deal hasn't gone through yet and secondly, if it is confirmed, it'll be a few weeks yet before you get the £18.50 ps money paid to you - hence a discounted valuation just now...

I aired my view on this T/O and the agreed terms a couple of days ago; notwithstanding that, the current situation (the sp discount to the take out price) is the norm when the probability is it'll go through, as seems likely. If a counter bid was a real possibility, however, then the sp would likely be above the present £18.50p T/O price - sasa.

Hi danawinner - well, if they have bought that crucial 15% of the float already this morning, you're ahead of me, then, so well spotted. If that is the case, then it does alter the dynamics of the situation, quite obviously... sasa.

Investor - the latest cash figure (circa £22 ps) was ex - the decom costs (known as unrestricted cash) and those prospective liabilities have been pushed out further, anyway - by two years or so, if memory serves, so that's a bit of a 'red herring' at this stage.

I think that AA's decision, as by far the largest shareholder with just under the 30% level, is borne out of frustration by him of the mkt's failure to properly recognise RRE's worth and going 'private' would nullify that handicap at a stroke.

However, selling such an undervalued enterprise at below even its cash level looks foolhardy to me, as it pays scant regard to the interests of the other shareholders. Moreover, letting it go 'for a song' affords an opportunity for a more proactive operator to step into the ring here or to prevent that happening, getting this offer upped to at least the cash level currently applicable.

Maybe, a more efficient operator like Serica could now be looking at this sudden opportunity to utilise its cash hoard after trying to find an attractive deal, on value grounds rather than simply a production boost, as they've recently re - iterated; its mkt cap is higher than RRE's, so no RTO probs if they do decide to intervene.

As I posted earlier, 'it 'ain't over until it's over' and we're a while away from that right now. Just my take on this currently, anyway - sasa.

Today's RNS is thought provoking, to say the least! That AA and the BoD have agreed to it speaks volumes about AA being thoroughly brassed off about how low the mkt valued his business, bearing in mind the agreed offer accounts for only 85% of the cash already in the bank with nothing attributed to its business ops and future earning power.

Just about anything can be massaged in the company accounts, except for the cash on deposit as that's verified by a 3rd party - the bank statement corroborating that item. To that extent, one's encouraged that the 'all cash' offer, such as it is, looks secure enough at this stage.

However, there's a way to go yet for this to go through (over 50% of votes in favour need to be achieved to gain control and only 35% has been secured so far) - ergo, there's a chance that a counter offer might yet be seen; a decent improvement in the terms is normally required to rescind management's acceptance of the first offer and a 15% hike in the £18.50 price currently to, say, £22 ps would merely equate to the cash held with the business in 'for free' even now.

Although the temptation for recent buyers to take their profits here while still available, is understandable, it might not be over yet. A counter bid equating to what's already in the bank would seem difficult for the BoD to defend, since it avoids any difference of opinion of what the existing business is worth today or might the outlook for it might be!

As it's early days regarding this deal, there seems no need to sell just yet - yes, it might well go through in the event but something more realistic might yet be seen, who knows? Even an improvement on the existing terms to reflect the £22 cash figure looks possible if that 50% + voting acceptance figure looks threatened.

Just my initial reaction, fwiw - sasa.

Hi Joe - hope you're keeping well...

Yep, you're quite right about our location; it's always conceivable that they might have stumbled across something akin to a major AU 'windfall' - you never know, as you say...

Also of interest, is the marked change in the smelting option; more interest now in avoiding the toll route in favour of an 'own smelter' or joint use arrangement if they can achieve that, in order to benefit from the other half a dozen peripheral metal values we have, too - they're worth quite a lot on what's been reported so far and thus well worth adding to the mix if we can - sasa.

I'm sorry, Destitute B but I don't get what you're on about at all... sasa.

Quite so, Sparticus - we did relinquish part of our licence area a few years ago (not deemed back then to be worth exploring / drilling it) but there's still a fair bit left to drill on the perceived, more promising, existing licensed area held...

Had an amusing thought after my earlier post that, maybe, the reason for the delayed 2018 drilling results was because they'd hit an unexpected prolific gold lode in addition to the Ni / CU and that needed to be separately evaluated; the Amur region is quite a well known gold region with Petropavlovsk operating quite close by and we do have some 20k AU ozs already reported, if memory serves...

Just a 'daydream' to lighten the W/E... sasa.

Agreed, TDT - all of us on here (the LTH's, that is) have been mystified as to why the 'excellent' 2018 drilling results haven't been released well before now. They're obviously a key feature of any development plan / crucial to the economics of the project on top of the 'exceptionally good' drilling results published the previous year.

Adam Habib & Tom Bowens will know these numbers, of course and their impact ahead of the TEO submission and to use the data to facilitate their efforts in enhancing AMC's allure to 3rd parties - why we've never been privy to them is quite beyond me...

One can only hope that they're 'outstanding' when disclosed and incorporated into the potential returns for any funding provider / prospective 'off take' deal or J/V arrangement to get us 'out from under' at last. We certainly need it! - sasa.