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-any consolidation likely wonât require a vote
I have been in a number of consolidated shares and they all required shareholder approval.
Where did you get your information that it could be done without a shareholder resolution Starbright?
Update: I3 Energy
Smith & Nephew failed to work out from the start but I3 Energy did, at least for a while. First analysed at 11.5p in September 2021, the shares swiftly gushed to a high of 32p last summer, only to recede as oil and gas prices fell, wildfires in Canada curtailed output and management responded by (prudently) cutting the dividend.
The good news is that production is still growing, the yield is still plump, the oil price is firming, and a continuation of the last-named trend should serve patient shareholders well.
Founded in 2014 and first quoted on Aim in 2017, I3 Energy acquires and develops mature oil and gas fields that are expected to have a long remaining life.
It currently has a working interest in around 850 sites across Canada and the North Sea that require limited investment and are producing nearly 21,000 barrels of oil equivalent, according to last weekâs interim results. That is below 2022âs overall run rate (and peak output of more than 24,000 barrels), thanks largely to the Canadian wildfires, but increased output is the plan, especially as I3 Energy has a base of undeveloped reserves.
Increased production is therefore one potential catalyst for the stock, while higher commodity prices would be another. Natural gas prices remain depressed, but oil is rising.
Americaâs efforts to pressure Saudi Arabia and Opec into producing more oil are coming to nought, while the Biden administration is doing all it can to prevent the development of new shale fields even as its efforts to depress the oil price by running down its strategic reserves prove unsuccessful.
Common sense, and the need for energy security, would suggest that the US will need to top up those reserves at some stage and that could give crude prices a further boost, to the benefit of producers such as I3 Energy.
I3Eâs shares could yet catch light once more. Hold
12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fmoney%2Finvesting%2Fstocks-shares%2Fsmith-nephew-shares-turnaround-plan-costs-investment%2F
Some interesting comments from Barrick CEO on copper and Gold.
Barrick Gold CEO Says This Is The 'Most Strategic' Metal Of Them All â And It's Not Gold
https://finance.yahoo.com/news/barrick-gold-ceo-says-most-165657257.html
SAS,
RTX retain the right to hold onto their 49%.
Bottom of this paragraph:
If Greatland completes the Stage 1 Farm-In and elects to acquire a 51% joint venture interest in the Paterson South Project, an unincorporated joint venture (PSJV) will be formed between Greatland Paterson South Pty Ltd (51%) and RTX (49%). Greatland Paterson South Pty Ltd will be the manager of the PSJV. RTX is entitled, after completion of the Stage 1 Farm-In, to elect to contribute to its share of PSJV expenditure. If RTX so elects, Greatland Paterson South Pty Ltd's PSJV joint venture interest will remain at 51% and the Stage 2 Farm-In will not apply.
GLA
That is not lost on gold mining industry executives, many of whom are trying to increase copper production. âIf I were to get in the time machine and go forward 10 years, I think a lot of gold companies will be producing copper,â says Palmer....
Interesting comment. Finding good copper deposits is a difficult as finding gold and there is not enough copper now.
US-listed Newmont, already the worldâs largest gold miner by output, has launched an all-share bid for its Australian rival Newcrest that values the smaller company at almost A$24bn ($17bn).
The move could kick-start a bidding war for Newcrest, Australiaâs largest gold mining player. Analysts say rivals including Canadaâs Barrick Gold and Agnico Eagle are also looking to consolidate the market.
https://www.ft.com/content/8ca4f858-0807-4400-87e7-c5902d16225b
Posted by Paddy this morning:It is understood Newcrestâs board has received an early-stage approach to buy the group, and has called in financial and legal advisers to help assess whether the proposal would be in shareholdersâ interests.https://twitter.com/paddygall1/status/1622133439213322241
What has changed is the composition of the board of GGP. The addition of Mark Barnaba, Elizabeth Gaines and James Wilson have completely changed the dynamic of the relationship between both parties. I suspect that now we have more grown ups in the room, there is less room for cards up sleeves. Remember, Shaun does not come to any decision now without the input of these individuals. If you are as impressed with these appointments to our board as many are, you should have confidence that the decisions made are in the best interests of all shareholders.
ATB
https://www.asx.com.au/asxpdf/20230125/pdf/45kxyrfq3kpwhb.pdf
Well that's the end of another exciting year for Greatland Gold, with the promise of another fantastic year of growth and exploration ahead for 2023.
To everyone, I wish you a very Happy and Healthy New Year.
Here's to them that like us -
Them that think us swell -
And here's tae them that hate us -
Let's pray for them as well!
ATVB
Mining Companies (and most companies) on the ASX typically have less than 1B shares issued. I have listed some of the top issued companies below.
Consolidation is inevitable in my opinion, as I cannot imagine Shaun wanting to list on the ASX as a company with typically 10x the number of shares outstanding as its peers.
A consolidation of 10-1 seems likely as that would put us in the top 20% of mining companies for shares issued.
shares o/s
Fairstar Resources Ltd 1.83B
Peninsula Energy Ltd 997.29M
Ora Gold Limited 982.44M
Alchemy Resources Ltd 953.07M
Silver Lake Resources Ltd 932.35M
Metals X Ltd 907.26M
Lynas Rare Earths Limited 902.41M
Newcrest Mining Ltd 890.51M
Rare Tweet from Gervaise:
https://twitter.com/gervaiseheddle/status/1589957500639776771