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210k shares voting no.
It was my first reaction to the RNS, and I grow more determined as times goes on.
Scenarios
a) the offer flushes out higher bids. Reasonable chance of this, so upside.
b) no other bids, take over succeeds. I make 5% in a few months. I have satisfaction of making my anger count in the vote. Some upside.
c) pressure of news releases over next month or two make offer look ever more ridiculous. Plus shareholder pressure (I'm writing to express my rejection of Bod actions). Bidco have to increase offer to succeed . Upside.
d) shareholders block taking it private. Might be a price setback, hopefully bod resignations. But I retain an investment with great prospects, both cash generation and growth, gold hedge to eco trouble etc. I expect share price will resume upward march after any wobbles. My preferred outcome, and upside.
Zurrin's 'prisoner' video with no enthusiasm and not one reason in it to accept bid just makes me a more determined 'no'.
Mrtibbles, you often say how the board of directors are at fault for pardey-era events. Here are their start dates:
Rutherford Jan 2020
Horgan April 2020
Jerrard Feb 2018
Eyre April 2019
Cloete Sept 2019
Farrow. Sept 2019
Faul July 2020
Fawzy August 2018
Bankes Feb 2011
The Pardey resignation was October 2019. So a case to be made that the majority of th Board are the cause of the change for the better under Horgan? What do you think?
Any views on Odey Asset Management? There are reports of significant withdrawals from funds under management in the light of recent FT article.
Anyone know which fund(s) they hold SHG within?
How low might any forced selling take the sp? Could be a great buying opportunity given all the good news from the company.
K3VMC,
22.2m sell at 17.1
28.4m buys at 18.0 on the book taking account of cancelled trades.
Wil we see another 6m sell to balance at some point, or have some buys been flipped oward do you think?
IMO looks like a buying opportunity for PIs just now.
DGR Global latest quarterly report (Oct-Dec) reports sale of 11987942 shares in the quarter. So you are being optimistic on when they run out.
They also report a holding of 32.5m shares (5.37%). No idea why Atlantics figures for DGR holding are consistently lower than DGR's.
Looks to me Rmm was forced into this RNS by a failed raise.
IMHO RNS had to be made to let insiders canvassed for the raise back out to allow them to trade. Same happened to SOLG a few weeks back.
Says operations are OK and issue is balance sheet. So there is a viable business, but shareholders are first in line to take or make up the capital loss.
SM,
Latest DGR Global quarterly report shows $A4.889m ALL shares sold from April to June inclusive. That's about £950,000 worth of ALL shares sold a month.
This continues the pattern of previous quarters, with regular sales of ALL being the dominant source of income for DGR. NM's presentation at Diggers and Dealers implies this pattern will continue for some time.
I expect DGR to continue to sell down ALL until some capitalisation event (SOLG etc) occurs. They can keep selling steadily for many months.
No surprises today for those who saw Alberto's last presentation. Confirmation that good news is coming. Production guidance is held. Solar and Elix plants underway. Increasing grade of ore is on the way. Just have to let it all unfold.
Energy costs remain uncertain for a while, but there is some encouragement that this is improving over time.