Member Info for SGD27

Consolidation, not a split: 1 new for 17 old. See RNS's of 13 Feb & 01 Mar 12:18.

Oh dear, Zak seems to be a bit out of touch with what's happening here! http://www.proactiveinvestors.co.uk/companies/stocktube/7634/mariana-resources-likely-to-hit-140p-in-coming-months-says-zak-mir-7634.html

But these are 'Written', so they're options MMCAP have sold to someone else aren't they?

"The current MARL SP has no effect on the profitability of what they have already done." This is assuming a YES vote of course. They'd be in for quite a loss in the event of a NO vote. So I wonder if they might consider buying up some last minute batches of shares even at a disadvantageous price, just to be sure of getting enough votes to remove any doubt?

To vote, you need to be holding shares at 5.00 p.m. on 14 June 2017. You may have "already voted" with your broker, but this would only be activated at that time, based on the shares you're holding then. For anyone who wants to vote NO, and believes that NO will prevail, it would seem that their logical course of action is to sell during the short window of opportunity between 14th and the EGM on the 16th - then buy back after the SP falls significantly, which it surely would on a NO vote. This made me wonder if we'd see a sudden SP dip then, but I think that in practice they would simply continue to be hoovered by the Arbs. This is just my understanding, and I'd appreciate anyone corroborating. Personally, I'm voting YES, and my guess is that YES will prevail - but after yesterday, who knows?! ATB

15:10 07 Jun 2017 http://www.proactiveinvestors.co.uk/companies/stocktube/7594/sula-iron-gold-very-optimistic-they-may-have-found-another-sanama-7594.html

My impression was that Sandstorm have historically tended to do share buy-backs rather than dividends, which would be ideal. (Anyone else corroborate this?)

Looks like he left Rio Tinto in 2015, so perhaps we shouldn't read too much into that. However, recent activities do look interesting : https://uk.linkedin.com/in/nigel-jones-991447ba e.g. : " Co-Founder Partner Avalite Resources Ltd. January 2016 – November 2016 (11 months)London, United Kingdom Established a special purpose vehicle with investor backing to make an acquisition in the natural resources industry. Principal activities: target identification, valuation, capital raising, bid approach, due diligence, negotiation and business operational turnaround plan. "

http://www.proactiveinvestors.co.uk/companies/stocktube/7582/acal-plc-firing-on-all-cylinders-ceo-nick-jefferies-7582.html " Acal PLC 'firing on all cylinders' - CEO Nick Jefferies 09:14 06 Jun 2017 Nick Jefferies, chief executive of Acal Plc (LON:ACL) tells Proactive a strong second half brought full-year results in slightly ahead of expectations. "

Another interview, with BRR : https://www.brrmedia.co.uk/broadcasts/59354da456e28f5949a54fc2/berkeley-energia-exploration-programme-targeting-zona-7-deposits

http://www.proactiveinvestors.co.uk/companies/stocktube/7576/berkeley-energia-on-the-hunt-for-the-next-zona-7-7576.html " Berkeley Energia on the hunt for the next Zona 7 12:43 05 Jun 2017 Paul Atherley, managing director of Berkeley Energia Limited (LON:BKY) tells Proactive they've begun the next phase of their exploration campaign on the Salamanca uranium project in Spain. "

https://www.brrmedia.co.uk/broadcasts/5935760756e28f5949a54fd1/ariana-resources-update " Ariana Resources - update AAU Mon, 05 Jun 2017, 04:30pm BST Kerim Sener, Managing Director of Ariana Resources, recaps the progress the company has made of the last 12 months, it projects, the plan over the summer months and vision for the future. "

Just looks like an after-hours rollover, with a £90 fee. http://thesharehub.com/?p=652 - see paragraph headed "A 'rollover'."

This might be of interest - it's HL's notes on holding overseas shares. (The link downloads a pdf, but it's only about 150kbyte.) http://www.hl.co.uk/__data/assets/pdf_file/0005/9674978/important-info-overseas-shares.pdf

Had an email from HL about an hour ago, with full details on the way by post.

http://www.proactiveinvestors.co.uk/columns/sp-angel/27835/today-s-market-view-kefi-minerals-plc-mkango-resources-ltd-metals-exploration-plc-27835.html " ...[Summary of RNS]... Conclusion: The new Lycopodium DFS has cut the NPV valuation and IRR for the project from that seen in the 2015 DFS. Kefi’s internal numbers are more optimistic and are closer to the previous DFS study using a slightly less conservative approach. It feels fair to say that the Lycopodium study should be more of a base case and the use of $1,250/oz also looks fair given that a bank could finance the project based on this price and using the forward market if it was ready to do so today. The AISC costs also look low enough to support most stress tests. Bank finance will depend much on support from the government and the availability of credit for Ethopia which has a respectable B1 stable outlook credit rating as set by Moody’s as of last December in our view. *SP Angel act as Nomad and broker to Kefi Minerals "

http://www.proactiveinvestors.co.uk/columns/beaufort-securities/27828/beaufort-securities-breakfast-alert-katoro-gold-kefi-minerals-plc-obtala-ltd-severn-trent-tiziana-life-sciences-27828.html " KEFI Minerals (LON:KEFI, 5.23p) – Speculative Buy KEFI has published an update to its 2015 DFS using numbers from proposed or contracted (engineering, construction, mining, support service, consumables etc.) agreements. This Updated 2017 DFS is therefore more accurate although importantly delivers very similar numbers to the 2015 DFS. Key numbers include capex of $161m although after contract deferrals it falls to $145m, AISC of $777/oz and $933/oz including capex. The NPV8 from the start of production using flat $1250/oz is $272m and gold production averages 115koz over the first 8 years. Below the headline numbers a few important changes have been made including higher throughput, coarser grind size, and design changes to access roads and the tailings facility. Construction is targeted to start end 2017 or early 2018 with first gold end 2019. Mining will be circa 80% bulk mining and 20% selective. Our view: The major change to the 2015 DFS is throughput increase from 1.2mt to 1.5mt and higher average production. Capex is slightly higher than the 2015 DFS but in line with KEFI's estimate from 2016. Its worth noting that under Nyota, capex was $289m and even KEFI's first feasibility study which was owner operated (with its own mining fleet) had capex of $176m. This is a positive DFS, a slight improvement with no nasty surprises and doesn't include upside from the higher grade underground mine which is likely to be an important aspect of Tulu Kapi's life. We look forward to KEFI completing financing and breaking ground and maintain our Speculative Buy recommendation. Beaufort Securities acts as a corporate broker to KEFI Minerals plc "

@Blackfisk1 : That's my current thinking too. By doing this merger, SAND is increasing its risk-profile. Some of its current holders won't like that, hence a sell off in the short term. But I think they'll be replaced in due course by others prepared to tolerate a higher risk in return for much higher profits, which will pull the SP back up in the longer term. For me, with a fairly large sum invested here, the idea of it being more evenly spread across Sandstorm's wide range of assets is not unappealing. Or perhaps I'll sell some & keep some.

@ludeck : Thanks. @Zippy101 : Your best bet is probably to seek employment with one of the arbitrage companies.

OK, so if I'm reading this correctly, the vote is on 16th June, and I assume the result will be declared more or less immediately. Let's just suppose for the sake of argument it's YES. Then there will be a one week window in which MARL holders who don't want to be SAND holders can sell their shares. I expect this would still be at a discount to the merger-defined SP, but a much smaller discount to now. Are others reading it this way?