Member Info for Tornadotony

The company has hit guidance on AISC and Production in Q3 and delivered on that promise.
The annual performance targets will be around 445,000 ounces on production which is mid target.
Q4 production to be slightly less as new kit is being commissioned.
Batie West decision was confirmed.
Other targets still in progress but delayed.
Cost savings programme has worked well.

Cash and other liquidity was $153M

The six general principles are as follows:

All holders of the securities of a target company of the same class must be afforded equivalent treatment; moreover, if a person acquires control of a company, the other holders of securities must be protected.
The holders of the securities of a target company must have sufficient time and information to enable them to reach a properly informed decision on the bid; where it advises the holders of securities, the board of the target company must give its views on the effects of implementation of the bid on employment, conditions of employment and the locations of the company's places of business.
The board of a target company must act in the interests of the company as a whole and must not deny the holders of securities the opportunity to decide on the merits of the bid.
False markets must not be created in the securities of the target company, of the bidder or of any other company concerned by the bid in such a way that the rise or fall of the prices of the securities becomes artificial and the normal functioning of the markets is distorted.
A bidder must announce a bid only after ensuring that it can fulfil in full any cash consideration, if such is offered, and after taking all reasonable measures to secure the implementation of any other type of consideration.
A target company must not be hindered in the conduct of its affairs for longer than is reasonable by a bid for its securities.

Last of 3 buys at 12.25p today.

As for valuations. The company will have a new mine by the time of actual sale valued at $36M but now will cost $40M to build with inflation. They have 555,000 ounces at production level at reserve proven and probable. Value is $55M. They have 1M resource ounces at indicated level in Tanzania and worse case its $20M value. They have WK asset which has a high-grade resource in ground value of $28M the inferred ounce value was bought for $10M. Additionally, $25M of VAT owed equates to a total of $178M or £157M minimal enterprise value. This gives an absolute minimal value of 15p. Asking for the minimum won't get accepted by the Board. The company has de-risked its Tanzania operations. Further WK work is likely to create significantly more value. A 50% premium to minimum value is probably enough to convince some of the Board members and institutional investors to accept say a 22p offer. Any offer below minimum is time wasting. Tony

Has Odey added a long position to a large position he already owns?

This lot have promised an awful lot and we need a Q and A and want honest answers on any missed targets.

Time to fill the order books.

Under a desk with Liz Truss.

How many are owed $25M on VAT payments that can be used to offset future tax. How many have resources above 10g/t at 750,000 ounces. How many will have a brand spanking new mine and if anyone tried to build it and now it would cost them 12% more. How many are linked up to the grid with hydroelectric power. How many are priced in the UK currency that is descending into a quagmire, but the income is in rising USD (and they are not based in USA).

The trouble with the Chinese is they can waste everybody's time. It is important for Shanta staff to ignore all of this and carry on as usual. A bid is not real until somebody puts a price on the company. 13p is an insult. They are asking for a free mine build, and they get $25M VAT paid back to them on buying the company as well as $25M spent on exploration on WK. Eric can show them the door if they want to monkey about at 13p valuations.

Must be a pension fund with margin call.

Everyone has had the chance to sleep on it. Every trader on LSE maybe jumping in on this. We will soon know if we hit 300 messages above. 21% of my portfolio was in Shanta. I really believe in this one.

Bidding starts around 21-22p and anything lower is low balling.

Nobody wins without a decision. It is less economic growth for local Peruvians. Does extending the permit lead to benefits. Will anyone be harmed by the extension. If there is no harm, there is no stupidity. Does the leader of Peru want to follow the example of the UK Prime Minister. (I hope not, as ordinary people in that country suspect somebody got a lobotomy).

That a magnet contains 35.3% NdPr which I did not know before you gave the answer.

Sparky I have experienced ups and downs with investing and the market can make anyone of us look like a fool at times. However, we have the fortitude to manage and be responsible for our own wealth creation than have some other fool lose it all on our behalf.

The only point I will make to folks here is to be careful. Volatility can run in both directions. It is likely to be a traders dream for a few days on here.

palate!

Gold goes on pallets.

We were initially encouraged to take no action but that disappeared in later RNS notices. Shanta is my single largest holding in my portfolio. I just pray it works out and the company get a great deal for us.

Eric's latest suggests this is now more serious interest. It blows out the reverse take-over offer for sure.

On target I have a huge amount of Shanta shares.
What I am concerned about is getting ripped off. The company is at a critical point in its mine construction activity. It requires the company to keep a sharp focus on what they are doing.

Do you really think Charat will offer a decent price on a reverse takeover. Both Yintai and Shandong have taken over other gold mining companies at low prices. At the present time its speculative. I think they are bargain hunting, otherwise an offer would have been put on the table.

I am struggling to accept any of the approaches are genuine.