Member Info for Shedulike

C of E get a grip for goodness sake. The oil drop is extraordinary but mostly because of Saudi taking on Russia. Lowest new daily reported Coronavirus cases in China today and look at the recovery rates before peddling fear, I don't want to be mean there was some nice sentiment in your post but much to be ashamed about I'm afraid.

I think there are tax benefits with a complete company sale over an asset sale but maybe having the subsidiary sidesteps that anyway. One thing's certain it would work for shareholders with the £ in the toilet - first benefit of Brexit at last! Having discussed this today I'm now going to be a complete hypocrite and suggest it might be time to wait for the assays and mets and worry about the possible sale later.

The truth is probably that it's a grey area as I still believe that the board are entitled to reject an offer without informing shareholders as long as they are acting within their fiduciary duties. So an investor who bought on Friday might well think it's in their personal interest to accept an offer for £5m but the majority of investors wouldn't. If it got messy and the Takeover Panel were involved they'd also surely look at the true value of the asset rather than what the latest tranche of investors wanted. The good news is we've been progressing the project in close consultation with relevant parties and I'd expect a good deal can be struck for both sides with a frictionless transaction. Shouldn't come to all that hoopla!

Bricks I have read differing versions of this but I believe the board don't even have to inform us of an offer they don't deem to be worthwhile, so in other words the only offer we will hear about is the one they are recommending to us. Happy to be corrected as don't want to plough through the bumph again - right off with my wheelbarrow to fetch some horse **** (that's literally by the way, in case of misunderstanding).

Anyone new looking at that shouldn't forget it doesn't include our new upgraded JORC resource including first indicated (see 29th Oct RNS) to which AMS applied a complete reinterpretation of the resource. That could have been at the request of an interested party who wanted the asset reassessed within a different framework, perhaps a kind of stress testing of the asset. I'm speculating but we know LR described it as a risk to there must have been a motivation for doing it.

Thanks 10BT can't believe I'm 50 though! Oil I'm hoping we can get this final bit of de-risking in the public domain asap, assays to 100% confirm the central mining area and mets to improve on zinc recovery and put deleterious elements to bed, plus hopefully some clarity on what the copper means to this project - surely then sentiment has to change. As you say a giveaway deal would give new money a multi-bagger. I'm certain a big player would want this in their portfolio of assets even if they plan to exploit it when the world economy improves. The local jurisdictions may not be too happy about that and may want clauses in a deal that prevents it from being tucked away in the back of a majors cupboard though.

Well said Oil - have you seen the footage of the Australians fighting over bog roll? Tells you all you need to know about the panic mentality - what better way to transmit germs than have a fight, shouting and screaming at each other!! I do think authorities are endeavouring not to underplay it as of course a bit of fear will encourage folk to do the right things as well - difficult balance to get right to be fair. What are your thoughts on newsflow by the way?

Haha that's the spirit Lawrence, the POG of old! - I assume it was just the sudden end of the week profit-taking on the gold commodity market that took us down?

Markets always over-react and the FTSE was due a correction anyway I believe. Investors will constantly be looking for opportunities and golders have been going well (POG a rare shining light in my portfolio). Much of the market panic is justifiable but the over-reaction is driven by the same mentality that has people panic buying toilet paper. There's more volatility to come for sure but once people come to terms with the fact that this is a fairly mild virus for otherwise healthy people and business can adapt and still operate things will stabilise. I think that once new daily infections start to drop as happened in China people will calm down a bit. I do worry about the governments aptitude to deal with this though, they've been caught lying through their teeth at least twice already - about supposed planning with the supermarkets and the preparedness of the NHS.

They can't sit on price-sensitive stuff because of coronavirus Gam - certainly something we could have done without though - right need to get on the road.

Though I'm sure you noted I said 'hoping' rather than making definite statements - look at timings last time and it will suggest early next week, could be wrong.

Affirmative.

Thanks Mokgone - I'm hoping late birthday gifts next week with assays first then mets. I do think if the pattern of rolling out one piece of news exactly every two weeks was to continue then it might look bad and lead to speculation.

Mokgone - "When you are a 29 year old....... happy weekend everyone", I am fifty tomorrow and not celebrating - apologise now!! :)

Just under six weeks last time, it will be just under six weeks if they come early next week. I thought it might be quicker this time with perhaps less core but thinking about it they sent the wedges this time so for all I know there was more. Don't really see a delay yet.

If I had to guess I'd say assays before mets even though the mets aren't being conducted on the latest cores. I think there is more to this second phase metallurgy than improving zinc recoveries and the deleterious elements.

Andy no offence but I wouldn't want to be stuck on a desert island with you :) I'd love the sp to be better but all that matters now is that the assays deliver on proving the central mining area and that the second phase metallurgy complete the de-risking. If those operational matters fail then feel free to despair.

Could CofE's off-book trades be Polygon closing?

Thanks Kenj, I get everything you say that they can cover any losses on the short by cashing in convertible bonds but I can't see where the profit is in it, they might as well buy very low yield government bonds.

I had expected a few more fireworks today, perhaps it was partially priced in. Just to reiterate if anyone can explain Polygon's position clearly, concisely and convincingly :) I would be really interested to hear. Thanks in advance.