Member Info for user2007

Yes, geat news. mured response ...
What is interestng that during the first 20 mins of trading, I was not able to buy or sell 250k shares.
Also currently there are only 4 trades printed. I just wonder whether we will see a large buy (or sell?) later on.
It looks mr market does not value this news much. I guess because most likely it's years away from real income.
Regarding the valuation, it would enteresting to apply the same rules they used when BMV was buying the other 50% of the JV from SAU.

Voted no, 10k+ shares.

B4G I'm sure you know the answer ... The recently updated MNRG webpage states Mr Spencer holds 6.82%, however the RNS figure says 7.3%. Why the difference? Is the difference held by related parties e.g. wife or family?
Ok, more questions:
1) any indication how EQT will be voting? I guess they are Rolf's friends but might be running out of patience.
2) Are there more sub 3% holders (0.5-3%) you know of that might be voting in Mr Spence favor?

Thank you.

@bunion - just a question.
Does the reply from Colin suggest that they plan to go to SK as well, presumably in April to kick off the construction?
If so then I would not expect it before Easter. That would test our patience a bit more .... But as long as an update (hopefully positive) is in April I'm fine with it.
A few relatively large buys reported as sells today ...

Bowler, just being curious, do you have zero fee trading account? Which company? Otherwise your buy does not make sense.
Thanks.

Well, at least one of them recently converted him/herself to a ramper ... :)

brainspark ... and how exactly they are benefitting from running the sp down?
Genuinely interested to know.

Yes, the recent strategic update by SAU is really not consistent when it comes to BMV shares. I read it as they wanted to say to their shareholders that their BMV shares could be converted to money if needed but on the other side believe that the BMV project will be a success and SAU will benefit from it eventually.
Given the current liquidity of BMV shares, I don't see SAU selling BMV shares on open market in reasonable quantities unless they are desperate to sell at any price. Selling directly to a 3rd party might be an option, the question is at what price. Surely they would want to wait until the project gets under way and then trying to sell.

In the meantime the waiting period continues .... It looks like the BoD gives updates only when there is any update available.
I can imagine that re-engaging or finding new contractors to start again after the SAU saga and the new prospectus release can be challenging and takes time.
They have a lot of skin in this project and their determination to acquire 100% of it should be a positive thing. However, for us PIs not knowing what is going on doesn't feel assuring .... Time will tell.

Not sure about selling.
The 100k trade at after 2pm was a buy (mine) so I assume other sells might be marked wrongly.
Volume is low, frustrated and inpatient holders taking loses and chasing better opportunities.

Ooops, I accidentally hit the send button ... so to carry on ...
If, as per the expected prospectus, additional 250m shares will be issued to SAU then we would have:
SAU 300,000,000 41.81%
Colin Patterson 73,325,385 10.22%
Charles Barclay 19,206,428 2.68%
Aidan Bishop 66,320,297 9.24%
This is clearly the situation when SAU would be the most dominant shareholder. I don't think the directors would like it.
I just wonder whether it is possible (within the prospectus rules) to issue shares but sell them to other entities and pay SAU in cash. This way the directors still could collectively be the most dominant shareholders.
In theory, if good news/progress is on its way, some other entities may be willing to buy higher than 3.6p. I'm sure if somebody wanted to acquire say 25m+ shares the sp would be pushed higher than that. Remember the sp was 5p+ before SAU announced leaving the JV.
Any thoughts?

JerseyC, the director holding is interesting in this situation.
As per my notes (correct me someone if I'm wrong), currently post 50m share issue to SAU,
Colin Patterson73,325,385 15.7%
Charles Barclay 19,206,428 4.1%
Aidan Bishop 66,320,297 14.2%
SAU 50,000,000 10.7%

As I said not sure. I meant low volume in £. 1M shares is just over £4k so not a huge amount.

To me the two 1M+ trades look like sells. The price was 0.4375 and at that time I was offered to buy at 0.45+ so I'm not sure.
Anyway 1or 2M is not that high volume......

Now it's down to execution and a successful conclusion of the share issuing process/prospectus update.
However, I mentioned it here a while ago that the BoD could try to sell their assets in Philippines. I believe Moneymaker replied that the asset represents around 450k oz of gold. Is it a JORCed asset? Is it a reserve or resource?
Not sure what is the situation there and how likely a buyer could be found. But even in a fire sell scenario, assuming the asset was worth just 1% of gold in the ground we could pay SAU $7.5m and give them just the initial 50m shares.
This would significantly minimize dilution, SAU influence and increase the sp.
Is the asset worth much less than 1%? Is there any floor in this scenario ? Thank you.

The sp still has not even reached the point when the price for acquiring of the other 50% was announced.
Now we even know how it will be financed. We have doubled our assets with less than doubled the number of shares so we clearly gained. It is also very likely that by the time we start producing the POG will improve.
As stated by many, now we need a plan with key milestones to be delivered. Everything is nicely setup.

By no means I like the lack of communication but the reality is that the two parties can't simply agree on acceptable terms and it seems nobody wants to give in....
Given this status, even if BMV wanted to release an RNS to update shareholders what they suppose to say?
Naturally, they would not commit to any date and very likely they would just express a hope that a deal will announced soon with a usual caveat - "There is no guarantee ...."
How would market react? Maybe even worse than to no news, not sure.
As somebody earlier said, there should be no brainer to come up with a deal as it would be beneficial for both companies.
I've checked the SAU sp and it doesn't look very optimistic on any time scale I selected. Therefor it's also in their interest to strike a deal.
For a moment I thought that BMV might want to sell their assets in Philippines but not sure how realistic this could be. You never know, surely such deal can be done in 6 months if there is a buyer.

GL

Yes, creeping up and on that bases I did yet another final top up yesterday :)
Let's hope a deal is announced as suggested before end of Q2.
I think SAU also need a bit of good news as their sp dropped recently. I understand they are funded and in theory don't need money now and I think this is also the reason they could afford to be a tough negotiator. But equally , they are aware that BMV can't just generate $10m out of thin air ...
Soon we will find out, GL all.

Following the recent open pit ban lifting in Philippines, it looks that the mining situation has improved there.
Could BMV benefit from selling their Batangas assets to help finance the current project in South Korea ?
I was not invested in BMV for that long to know the details about the Batangas project. However, I recall, last year the Co stated that they were approached regarding this dormant asset by a local entity. How realistic is to monetize it and what value could be attached to it?
Thank you

OK voted ... Had to call them three times. The third agent actually knew how exercise my votes ...

Hi,
Anybody managed to vote with EQI?
No notification in the "Corporate action" section.
Just called them up and was told that they have not been notified.
Also the agent said that it's responsibility of the company to notify EQI which I found a bit strange.
Shall I contact directly EUA to notify EQI?
Any advice welcome.