Member Info for Somnamna

I voted No, at 475,000 shares a mere drop in the ocean but hopefully others will vote no as well.

The deal offered by Anglo Ashanti is far too low, doesn't give value to CEY shareholders. If the deal doesn't go through Horgan should look to improve the SP and shareholder returns by advancing, derisking and monetising CEY development opportunities e.g. sale of all or part of Doropo, let Capital Drilling finance part of exploration of EDX (derisk this aspect for CEY shareholders) and JV with the Saudis for development of EDX (Saudi buy in and JV). All of these actions would be in the financial interests of CEY shareholders. But would require an entrepreneurial approach by Horgan and Co. and above all that Horgan and Co obligation is to represent the interests and maximise the financial return to CEY shareholders.

Thanks for the link

Sorry, which article?

Hi Larry, the exchange rate also affects the GBP value of the 90% portion when converting back to GBP. So a movement in the future GBP to USD exchange rate will also have to be considered. Good to know you are hanging in, I would like to do that also but will probably play it safe and sell half or more. But not at today's low price. Good luck.

The variable factors are:

1. Anglogold ashanti gold price

2. Price of gold

3. USD to GBP exchange rate.

I made a simple Excel model to evaluate the GBP value of three options:

AA] Sell now

BB] Hold and convert 100% to Ango shares as per the offer.

CC] Sell 50% now and convert 50% to Anglo shares as per the offer.

To keep it simple the three variables I have used are USD exchange rate, and Anglo and CEY share prices.

At the moment I am holding out to see what happens.

Hi Tibbs, as an expat, and apart from UK pensions being frozen for some, I don't think we are treated unfairly, just differently. By way of example a non-uk resident is exempt form UK income tax on non-uk income, is also exempt from capital gains tax on share disposals if the person outside of the UK for 5 years or more and as far as CEY is concerned (classed as an overseas company for UK tax purposes) then CEY dividend is exempt from UK tax. A UK non-resident cannot take out an ISA which is for UK residents. All these can add up to a sweetheart deal as for as non UK resident owners of CEY shares are concerned, especially if they are resident in a low tax country, not so much in a full tax country that levies taxes on a worldwide basis.

Hi Prof, I still have my shareholding intact but I plan to sell half probably this week and then if the deal with Anglogold Ashanti goes through to convert the remaining half as per the terms of the offer, then see what happens to the gold price and the GBP to USD exchange rate, before disposing of them. Of course this plan may change depending on unfolding events.

Hi Newtothesite, have a look on the LSE chat for AU. Quite a few people from the LSE chat site for CEY have moved over.

There is a chat forum for AU.NSE on LSE

https://www.lse.co.uk/ShareChat.html?ShareTicker=AU.US&share=Anglogold-Ashanti-Plc&thread=EF1EDC6D-DC75-4D25-ACC6-3933A1FAD0E9

The first of many?

There is a lot of info on the CEY website.

https://www.centamin.com/investors/recommended-acquisition/

3bear this is turning into another CEY s***show, the timing and lack of explanation from Horgan and his cronies is at best negligent.

Why not wait until the end of the month and produce better figures before coming to a deal. Sneaking the offer in before the Q3 results only favours Anglo Ashanti, and of course any CEY directors on seet heart deals.

As an investor I am devastated, ok if just trading, but I was looking to the longer term. Lol my bad.

Are the Ashanti shares in USD not GBP?

As a shareholder I would like to see from Horgan details of the deal and justification e.g. who gets what , why and why not an all cash offer also why they think 163 is fair value. Bit of an insult inform investors in the manner of this mornings RNS.

I understand and appreciate some shareholders wish take cash and exit but let's not loose sight of the true nature of the deal (why and who gets what) and Horgan's duty to properly inform shareholders, to act in the best interests of shareholders and not just line his own pockets.

I hope so, for me this news is devastating and another clear example of the private invetsor (not trader) being well ****** by avariscous unscrupulous management. At 163 CEY is being sold on the cheap.

This seems like a bolt from the blue. Did I blink and miss something?

Global miner AngloGold Ashanti (AU.N), opens new tab will buy Egypt-focused smaller rival Centamin (CEY.L), opens new tab in a $2.5 billion deal, the companies said on Tuesday.

Under the terms of the deal, Centamin shareholders will get 0.06983 new AngloGold Ashanti shares for each Centamin share and $0.125 in cash.

https://www.reuters.com/markets/deals/anglogold-ashanti-buy-centamin-25-bln-deal-2024-09-10/

More like dial 999 robbery in progress

Steve, I understand your approach. Indeed, I have thought about trading CEY which seems an ideal stock to do so. Especially since it has a record of rising and falling in ranges, also there is no stamp duty. Unfortunately, I have never got may act together to do it.

Most recently when it rose to 130ish, I thought about selling half, had I done and bought back today I would be GBP 20K + up. Beggars’ belief if I had done that over the 10 years I held the shares.

Thanks for sharing your experiences and thoughts they make good reading and are appreciated. As are Tornadotony's on the technical approach, both have their merits. Goes to show a one size fits all is not appropriate, but both of you sharing your experiences and thoughts is appreciated and well received.

The importance of FCF is something I learned from this board some time ago. Thanks to and thank you Sotolo.

Thank you Bohercom for asking and sharing. Most helpful.