Member Info for TigerByTheTail

Hi DJG!
I've always thought your kind of nasty snide passive aggressivity to be far worse than outright abuse. It's a coward's way. So be a good chap and reflect on your own conduct.
Anyway, happy to add at these levels.

One of ZH's more sensible articles:
www.zerohedge.com/commodities/record-highs-copper-new-oil-could-be-double-here

Hi Zephyr!
You're forgetting that Bacanora will receive a substantial sum in cash for the new shares they must issue to Ganfeng - cash which should be included in any proper valuation of the company. Yes, only 45p per share, not the current share price, so there is some "effective dilution", but much less than you're calculating. I still make it that the discount is "too big".
Anyway, let's see if any of the major shareholders have anything to say about the proposed deal before Monday opening.

There will be a lot of shareholders who have been underwater for a long time. Some will simply be tired and want to get out - and will take any opportunity to do so. I think we have to recognise this.
On another note, I'm hoping that BOD announce another RC drilling campaign to confirm the connection between the two pipes soon. It seems crazy to wait for the results of the kimberlite analysis in mid-July before getting on with this.

I guess I go along with the consensus here - yesterday was a small knock back on a long road. The share price was getting ahead of itself over the last few weeks (just look at the euphoria there was on the board), and this has just set it back onto a flatter and more realistic (but still upwards) trajectory.
It also wouldn't surprise me if the market-makers were forward selling a 0.4p placing yesterday - I found the lack of share price movement (after the initial drop) suspicious.
I bought back in yesterday. I'll be adding over the next few weeks - but slowly and on opportunity.

Hi Mad Stork!
I lived through the early 1990s in Russia. Now that was an experience! Five good friends of mine got murdered in three years.
So some anonymous poster spouting nonsense on a bulletin board is water off a duck's back.
Most of the people on this board have no conception of what Russia is really like. They would be in a white panic for their money if they had.

Clue: I said I'd sold my RMM on the THS board at the weekend, before this morning's drop. Just by chance.
No mne naplivayut.
This board is the most extraordinary example of groupthink self-delusion I've ever come across. It's actually amazing.

Kira - Myself.
Fish4Chips! Check my posts, dearest. Both the RMM board and the THS board.
Also, the latest THS presentation has the relative basket prices of all the PGM producing majors. Page 6, I think. Sibanye's is quite high.
The Mad Stork is quite right. And there are lots of other similar examples of PGM development assets that he could quote. Either EUA is vastly, grossly overvalued, or the share price of ALL other PGM miners is completely wrong. It's one or the other. Take your pick. Udachi!

If you read my posts, you'll discover I bought back in this morning at RMM! So no need to feel sorry for me.
But thanks for your kind thoughts.
Dead serious about my valuation here, by the way.

SLP would be another example of this.
I remember the share price sitting at c. 37p for an age as institutional investors (in all their pomp and wisdom) offloaded onto PIs.

I'm quite serious. My estimate is based on considerable knowledge of PGMs.

I'm thinking in the region of 5p per share.
Which is why I believe that it's not possible to conclude a deal, because how can the board "sell" a sale of the company to shareholders which amounts to less than the current market cap?

Hi HighAndDry!
I suppose:
1. The periodic very large sales that balance out a book which is otherwise very one-sided. E.g. last night we had one sell of 910,000 shares. That's probably not a PI!
2. The Fidelity RNSs which show them reducing from well over 10% to below 5% some time back. If they are the only institution selling, then they must be nearly out by now. But we can't be sure of that.
3. The fact that the fundamental case for Tharisa is now SO strong, but the share price isn't rising. The seller is sucking investor interest away from this company by holding the share price nearly flat for so long.
I agree that volume is only average, but that's what happens when a share price is held down. I firmly believe that our seller would both shift more shares and get a higher price if they played their cards better and allowed the share price to rise. Hence why I called them dumb (and I do hope they read this board!)

No, there is a real threat there. That's probably why the board agreed in principle to such a lowball offer.
The institutional investors might haggle for a better price, but I'd be surprised if Ganfeng don't win out in the end.

Definitely not.
But I agree that the FCA and the Takeover Panel should take a long hard look at EUA.
The number of red flags here is astounding. It's plain ridiculous that a FSP (with no named bidder and no Put Up of Shut Up date) is taking this long. It makes me wonder all kinds of things...

As a soap opera, the writers really need to up the pace of events here. This show is getting seriously dull and boring.

It's all a bit crazy, IMO.
In Q4 last year we can predict that Tharisa made windfall profits. In Q1 this year it is clear that it made bonanza profits. Since April 1st, profits have been even better (a word bigger than "bonanza", please?).
The interims in which we are due to get the financial results in black and white are only two weeks away. By all normal measures, Tharisa will emerge as incredibly undervalued. A healthy dividend should come with the interims as well.
And yet our seller is dumping these shares into the market like they were stolen goods they have to get out of the back of the van as quick as they can before the cops nab them!

Hi Naise!
Nope, not Cornish, sadly. It would be interesting to get him to run his eye over Baita Plai. The results would be a fascinating read.
(For those who don't know, Cornish is a poster on the RMM board, and he knows his mining onions).

I'm liking the typo "due niligence".
It feels like that sometimes!

Now 149.7p to sell - which is the highest it has ever been (bar uncrossing trades).
That said, I think another large parcel of shares has been placed with the market-makers to sell (let's say at 149.5p), and we're now working through that.
To be honest, I'm still amazed by the rank stupidity of the institutional seller. Selling Tharisa is not exactly a good decision in itself, in my book. But to sell in this dumb manner is beyond me. They would - I think without question - make more money and offload more shares if they let this share rise to a more "natural" level. I guess it's just another example of why you shouldn't let strangers take care of your money.