Member Info for thelearner

That's my votes cast for the deal - will be amazed if there are any late bids now. But had to vote by 30th Jan for vote to be counted so that's it done. Now hoping MTL can deliver the mine and production in the promised timeframe - will be a first for LaIndia if they do.

My holding is with HL. Deadline for voting is 7pm on 30th December, to allow time for votes to be passed on to CNR.

I would imagine most brokers would be the same, but worth checking.

There is only 1 offer on the table after 2 years of trying to sell the asset.

For the offer to be accepted, according to scheme document there are 2 requirements

The approval required at this meeting is that those voting to approve the Scheme must:

• represent a simple majority in number of those Scheme Shareholders present and voting

in person or by proxy; and

• also represent at least 75% in value of the Scheme Shares held by those Scheme Shareholders present and voting in person or by proxy.

Implementation of the Scheme will also require approval of the Resolution at the General Meeting to be

held immediately after the Court Meeting, as described in paragraph 5 above. The approval required

for the Resolution to be passed is a vote in favour of not less than 75% of the votes cast

It's impossible to meet clause 2 with almost 30% already guaranteed to vote for the deal? So it's a done deal?

Is there a scenario where another bidder could mount a hostile takeover bid for CNR based on the current sale undervaluing the assets and making an alternative offer? Hostile takeovers are not generally favoured by companies. So unlikely?

I am also going to vote for the deal. I'd have preferred calibre paper but MTL should be able to bring La India to production which is why I invested here in the first place over 7 years ago. I am lucky I had averaged down, 30.9 is my average. I just hope MTL SP significantly rerates and there are no other sanctions applied to Nicaragua over the next few years and gold is coming out of the ground.

CVR's appear to be quite commonly used mainly in pharma sector and are viewed as useful tools in M&A. Our 2 CVR's are event rather than valuation driven which appears to be the less complex of the 2. The seller needs to ensure the CVR's are well structured and defined in the deal. Broomtree makes a fair point Jim Mellon will probably be the biggest single SH in MTL holdìng a large number of CVR's and 34% of MTL SH's could also potentially hold CVR's, likely less as some people may sell up.

MC and Hannam had 2 years to sell CNŔ and failed miserably, and but for the gold price not sure we would have a deal now. JM eventually grabbed the reins, don't know if this is his deal and not MC's, but JM for sure wants to see the gold coming out of the ground and to profit from this. Everything we hear about DB and MTL suggests MC's (not a mine builder) services should not be required long term.

So we will be seeing an RNS from SurreyNot123 who has stated on here hey own 2% of the company?

I agree as far as MC and JM are concerned this is a done deal. CNR lowered the SP with the placing at time of sale, maybe had no other options, we should have hired a mine builder but that's where we are.

I have posted before Calibre long term trucking of ore did not look viable and they would have to build La India mine.

MC will not have contacted Calibre, and they could still have this for a bargain price. MTL might struggle to increase offer if they had to. If there are no other interested parties after 2 years, this may be the best deal we are ever going to get. We will be building the mine and going to production. More risk with MTL than we would have had with Calibre. Was always a high risk here.

Ilka - that's a very good post and one we should be paying attention to.

ElectricLion - I very much share your view of AIM and risk - I have had many opportunities to take good profit and have held on thinking more would be coming - and ended up with big losses - I have averaged down here to 30p.

I never put money in AIM I could not afford to lose, but have a substantial amount invested in AIM, GGP by far my biggest which I think will eventually deliver healthy profits, SML a disaster and here. Have some other juniors also not good but a Canadian junior which has made profit and hoping for more.

My funds have done very well - especially tech funds - Fidelity Global Tech I have held for 8 years and has returned 515%, pity it was small amount invested. L&G Global Technology Index trust - 9.5 years 550% returns.

You would normally see your chairman or CEO giving interviews and informing their shareholders about the deal they have recommended an̈d possibly explaining why they have confidence in CVR part deal being fulfilled and selling their deal to SH?

Also would expect MTL CEO doing same.

My original thoughts was to get out of here fully for cash. Was hoping for 60p+ but would take 45p.

However warming to thought of taking paper in a new owner, and getting upside from the mine build and further drilling I always hoped CNR would do. I am encouraged by what I see about MTL but think we are selling too low a price.

Would be very happy to see Calibre come in with higher bid, cash or paper.

Be interesting to watch how many bail here for >25p to get all cash and get out. Deal in Q1 25, so another few months where the SP could fall as SH's sell up? Many LTH will be very disapointed with this deal and cannot see how CNR board can engage with Calibre now they have recommended MTL.

Like many I had hoped for a straight sale and exit here. I had hoped to see CNR - as promised many times over the year - build a mine and build a strong profitable company.

Now here we are 2 years into sale process, and not much interest and of course potential suitors when there are only 1 or 2 will play hardball and try and pick up the asset on the cheap, and as CNR ddo not have any bredible Plan B to build the mine and go to production, I am afraid we are either going to be sold at way below value, or left with the asset, no buyer and no plan B.

I'd be happy with Calibre buying us with paper, they are established proven producer, and now not only in Nic but also in Canada. Already being in Nic having operating mines is a strong advantage, but they know this.

MTL I do not know anything about, but from what I have read here - they would have the ability to take us top production, but the price looks too low, I would not mind an option to get more shares in MTL once mine is running but the CVR looks like possibly poor option. If Calibre offered more shares once production has commenced could also swallow this.

Anyway, looks like we ill get whatever JM is happy with. I would not like to see MC receive any bonus at all here, and if there is a deal done he should go off payroll ASAP, if MTL buy they will probably want him here for 6 months.

AIM is not a place for the faint hearted, and wise investors probably avoid it now. Junior Mining - I would say investors have lost more than they have ever gained.

I am with HL. I have held 1 Canadian Junior NSUP for quite a few years. Initially could trade online with HL, then NSUP changed a handling agent, shares were non tradeable for at least 6 months while paper certs changed hands or something and now I can only trade by phone,which I should have done when they reached $2 a few years back, now 50cents on a good day, story of my life on AIM.

Surely if a company makes the first binding offer, they would set an acceptance date deadline? They would want to do everything to ensure there is not an auction?

Not sure how it all works, if for example there are 3 interested parties, and a binding offer is made, can CNR publish this before the accept the offer? or at least inform any other interested parties?

I really just hope we do get a sale at a good price. I've been here a good while but many have been here much longer. If we are taking paper I hope it's Calibre. I have always thought it would be the Chinese.

Tech and tech sector. I like tech but don't study the sector. So I have left it to fund managers, and been invested in tech fun's, some for many years. Returns have been stellar. Compared to all my AIM plays where I have big losses, but still some hope, AIM mostly junior miners. Have also bought some mining funds 6 months ago, hoping for sector upturn. Been invested in many funds, only Woodford let me down.

I have a Canadian junior I could sell to go in here but I am loathe to put more hard earned in here given the history and blatant disregard for shareholders. JP bonus was a complete joke.

Surreynot123, I could not email MC as don't have his email address. Not sure he would respond anyway, and if I was him I would be reading this board anyway. Anyway JM is obviously in charge and making all the decisions.

Ì think anyone buying this is going to insist on 100% ownership, won't leave us with minority interest.

Real problem is lack of interested buyers and they are willing to play waiting game, due to low number of potential buyers, which seem to be Chinese and nobody else. Calibre seem to be happy to diversify outside of Nicaragua and grow in Nicaragua through exploration, and they are finding reserves, which bodes well for CNR licences and concessions.

If we had a plan B to go build the mine, might be the only thing to encourage potential Chinese buyer to increase price. If there are more than 1 Chinese buyers, will likely be controlled bu their govt.

We should go and arrange financing and get quotes to build the mine, we are burning money on salaries seemingly getting nowhere. Then put closing date on sale and be prepared to go mining if there is no sale.

Simms45 I hope you are correct and we have deal before Christmas.

MC I think went and got the concession, put drill in ground and proved resources, not sue if he got JM on board or if JM just saw the potential, invested heavily and eventually took control of CNR.

JM then seemed to decide we were not miners after all and he and MC did not have knowledge to build mine. Alternative would have been to JV with a miner (First Majestic who were interested and sold us Sag Mill?) or move MC to lesser role and hire new CEO who could build a mine.

Do we have a credible plan B if we cannot get sale at required price? Probably not and potential buyers know this, and unfortunately not a huge list knocking at door, and their hand is strengthened as we have no credible plan B.

Don't know if that is AI generating that for FT, said SM reported no income last year which is false, we had income and outgoings. No profit but there was income. So FT predicting a 50 bagger, oh how the long suffering here wishes that would come true.

Like many here, I had written off my considerable investment here. At best maybe thought it might get to .5 or .7 and I could get part of my investment back. I have no faith in John Peters, and not much in PW either. Thank goodness AB has gone.

This was being run as a lifestyle AIM company in my opinion. This company has the tremendous benefit in AIM of Cobre income,

Look at our history with mining, million̈s wasted on LC and Hanns Camp. I now just hope Charles Manners and the mining guy from Rab Capital can bring some new direction to this company and are able to use the Cobre income wisely.

Ŵe have never known (apart from the Brenda debacle) who the major Cobre clients are, or where the manetite being sold is going, and therefore it's hard to judge how secure the income and future income is.

It's incredible when you look back that the directors were awarding themselves bonuses while the SP tanked. Don't even know what work they have done for their handsome salaries. My own view is the new broom should have swept more away.

Thank goodness, new chairrman who actually bought shares with his own money, aandd a mining expert from Rab Capital.

There may be some light now at the end of the tunnel for the many long suffering shareholders here. I have been here years and my average is 1.4p. I think some may even have higher averages than me, I stopped averaging down when it hit 1p.

I think they should get rid of JP. Not sure about PW. Hopefully more changes to come in the leadership team.

Well Nero we can make a judgement when and IF it gets sold, and only once we know the selling price.

We all have our own opinions, and once upon a time I would have thought who could argue with Jim Mellon, but even the great and the good make mistakes. But he cannot be accused of not putting his own capital at risk on this company, although of course he has had much better access to cheap shares than PI's.

The longer this sale takes, the longer this company burns through money, but if the sale price is significantly higher than could be achieved 1 year ago it will be worth it.

My own view is if we are not miners, we should have JV'd with a mining company and built the mine and taken it to production. Calibre had showed us the way it possibly could have been.

I am just hoping for a sale in the near future with a decent price. many have been here a long time sitting on losses, but again I have had the chances to exit with profit several times on this journey and I never took them, initially as I wanted CNR to build the mine, but if I am being honest since sale process started, I was looking for more profit than the modest one I could have exited with at 36p.