Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
thats a load of boll** that IIs are the only ones that can short AIM stocks
Seems very low? was expecting a bit more
Said this would happen when San Tropez con artist and his cronies were ramping poor mug punters in at 3p calling 10p+
This management team cannot be trusted as they have never delivered *full stop*
Cant see how this deal will pass shareholder votes.Only winner is Sprift.
Good value!? I turnover more than that and actually make a profit too....will someone buy me out for £35m?lol
that turns a revenue of £200k? Got to be joking right?
even the old faithful coming under pressure today
50/50 profit share and also SHG would be taxed 50% on their share (as is always the case) so would end up with 25% post tax... thats how I read it.
Again you have to wonder why the directors that put money in here at 16.5p end of last year are suddenly both selling at 13p whilst using the excuse theyre hard done-by and need the cash yet are on $500k+ cash salaries as a base case with the share based payments on top of this. Hasnt anyone questioned them on this yet? They need to go on record explaining their actions..id like to see a Crux interview.
Selling pressure here a bit fishy if you ask me.
"During 2017, the Tanzanian Parliament enacted several legislative bills, which amended the Mining Act 2010 to provide for an increased government shareholding in mining projects. The amendments entitle the government to a minimum of 16% free carried interest in all mining projects, and the right to increase this commensurate with the value of historic tax reliefs and exemptions enjoyed by the mining company (up to a maximum of 50%). Since the incorporation of its Tanzanian subsidiaries, Shanta has not been the recipient of any preferential tax arrangements in Tanzania nor has it been party to a Mining Development Agreement.
These changes preceded the announcement by Barrick Gold on 20 October 2019 that they had entered into a bilateral agreement to share the future economic benefits from Barrick Gold's mines in Tanzania on a 50/50 basis. It is management's view that a similar arrangement between Shanta and the Government of Tanzania could be required.
On 30 October 2020, the Mining (State Participation) Regulations 2020 were published, which expanded on this free-carried interest and provided that the Government of Tanzania shall enjoy the right to receive a proportionate share from any repayment of equity or loan.
It remains uncertain how the new legislative bills will be interpreted and implemented. To date, with the exception of the increase in royalties from 4% to 6% and the introduction of a clearing fee of 1% which was effective from July 2017, there has been no material impact on the Group. The Company continues to take in-country legal and tax advice to monitor the situation carefully."
these two directors are on over $500k cash salaries each including their performance bonuses. You cannot possible argue they needed to sell shares when on these kind of cash salaries. Their share based payments were on top of these.
Doesnt anyone think it odd these directors participated in the 16.5p raise a few months ago yet suddenly decide to sell more stock than they put in recently and at 20% discount? What has changed their stance from wanting to buy to wanting to sell over such a short period?
this was released a few weeks back. "During 2017, the Tanzanian Parliament enacted several legislative bills, which amended the Mining Act 2010 to provide for an increased government shareholding in mining projects. The amendments entitle the government to a minimum of 16% free carried interest in all mining projects, and the right to increase this commensurate with the value of historic tax reliefs and exemptions enjoyed by the mining company (up to a maximum of 50%). Since the incorporation of its Tanzanian subsidiaries, Shanta has not been the recipient of any preferential tax arrangements in Tanzania nor has it been party to a Mining Development Agreement.
These changes preceded the announcement by Barrick Gold on 20 October 2019 that they had entered into a bilateral agreement to share the future economic benefits from Barrick Gold's mines in Tanzania on a 50/50 basis. It is management's view that a similar arrangement between Shanta and the Government of Tanzania could be required.
On 30 October 2020, the Mining (State Participation) Regulations 2020 were published, which expanded on this free-carried interest and provided that the Government of Tanzania shall enjoy the right to receive a proportionate share from any repayment of equity or loan.
It remains uncertain how the new legislative bills will be interpreted and implemented. To date, with the exception of the increase in royalties from 4% to 6% and the introduction of a clearing fee of 1% which was effective from July 2017, there has been no material impact on the Group. The Company continues to take in-country legal and tax advice to monitor the situation carefully."
Tanzanian president died so perhaps management fear the worst?
end of April normally here for 3rd quarter results
wow I missed that on top of that they also awarded themselves the following "performance bonuses" of
$346k
$288k
So in total for 2020
Erik Zurin took $1.2m
Luke Leslie took $1m
And they need to sell shares?! wakey wakey folks.
Page 36
https://www.shantagold.com/_resources/Annual%20Report%20and%20Accounts%202020.pdf
Just for 2020:
Erik Zurin took a whopping cash salary of $408k
Lule Leslie took a whopping cash Salary of $340k
On top of this they awarded themselves the following in share payments:
Erik Zurin $430k in shares
Lule Leslie $358k in shares
So the narrative they only paid themselves in shares is total BS... something stinks here and in a big way
remarkably strong day here
These two directors were infact paid hefty salaries - check the accounts, I just flicked through 2018 ones.. seems the bonuses were paid in shares but not the salaries.
Why sell now? Surely this is the cusp of a turnaround. Something not adding up here, reminds me of BIDS when CEO and CFO sold right before a clanger.
always knew there was something fishy about this company. Tanzanian assets, I wonder if they are at risk
why this up so much?
When you have £30m (at current price) in at 1p sitting on 1400% profit plus you have the other £30m in at 5p sitting on 200% profit... this SP is headed one way and that aint up im afraid.
Great ponzi scheme for the pre ipo money. Expect 6-8p within a week or two here
MXC
the problem lies in the fact historic management team hold basically no shares in this company... that really tells you all you need to know.