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SRX Sierra Rutile

35.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sierra Rutile LSE:SRX London Ordinary Share VGG812641063 COM SHS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 35.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 35.00 GBX

Sierra Rutile (SRX) Latest News

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Sierra Rutile (SRX) Discussions and Chat

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Sierra Rutile (SRX) Top Chat Posts

Top Posts
Posted at 07/9/2016 10:27 by flagon
Broker comment from today -

Mineral sands, Antitrust regulators and the dangers of holding up a merger
• Word has it that the German Antitrust regulators looking into the merger of Sierra Rutile with Illuka may need more time so that they can better understand the market for mineral sands.
• It appears Illuka are now producing almost all their rutile from stockpiled heavy mineral sands which may run out within the next two years following the depletion of deposits in the Murray Basin.
• We note, mining in the Eucla Basin has been halted while rutile prices remain so low.
• It is easy to see that with rising costs and falling resources rutile supply could drop away in Australia causing Illuka to seek to replace production through the acquisition of Sierra Rutile.
• This might serve to raise Illuka’s market share but it will not necessarily raise the volume of rutile coming into the market.
• Refusing the merger could even prove counterproductive for the market. Sierra Rutile is a relatively small company and still needs to manage its planned expansion in Sierra Leone. The expansion would benefit from the financial security of being backed by Illuka and its better technical ability.

Link ->
Posted at 06/9/2016 09:09 by bossman1978
Is this good or bad for PI's? I never thought 36p was a fair price considering the future the company has.
Posted at 19/8/2016 11:53 by proactivest
Sierra Rutile’s (LON:SRX) board of directors and major shareholder have accepted a takeover bid from Iluka Resources that values it at £215mln.

Check out:
Posted at 02/8/2016 06:46 by snowyflake
urchin1 - your post should be rephrased "the board should have referred the offer to independent advisers"

Unfortunately the board seem to be complicit in Pala's desire to sell at this low price when the market is turning and SRL will benefit from the upturn in rutile prices and the exponential increase in production.

The bid is to suit Pala; not the shareholders. The board should have been conscious of that fact and acted in the best interests of ALL shareholders. The company is worth more.
Posted at 29/7/2016 08:59 by stonefold
IMO that first offer will be roundly rejected.
========



"......Iluka Resources Limited – Request for trading halt pursuant to ASX Listing Rule 17.1

Pursuant to ASX Listing Rule 17.1, Iluka Resources Limited (ASX: ILU) (Company) requests a trading halt be placed on the Company’s securities, to take effect immediately.

For the purposes of ASX Listing Rule 17.1, and in support of its request, the Company advises that:

 The trading halt is requested pending an announcement by the Company regarding a potential corporate transaction involving the Company and Sierra Rutile Limited (SRL).

 The Company is in advanced discussions with SRL in relation to an all cash offer for SRL. At this stage, the discussions are incomplete and any transaction remains subject to a limited number of important pre-conditions. Therefore, there can be no certainty that a transaction will proceed.

 The Company believes that confidentiality has been lost in relation to these discussions and has requested the halt to avoid trading on an uninformed or speculative basis.

 It requests that the trading halt remain in place until the earlier of the time the Company makes an announcement to the market in relation to the potential transaction and the commencement of trading on Tuesday, 2 August 2016.

 It is not aware of any reason why the trading halt should not be granted.............."



======



"29 July 2016
TRADING HALT – SIERRA RUTILE LIMITED

Iluka Resources Limited (Iluka) refers to the Trading Halt request under ASX Listing Rule 17.1
made by Iluka earlier today and note that Sierra Rutile has made a separate release in response, a
copy of which is attached to this announcement.

Iluka confirms that the price per Sierra Rutile share under its proposal is 36 pence and, in addition,
that this price is final in the absence of a superior proposal.

Iluka notes this announcement does not serve to release the Trading Halt and that it will come out
of Trading Halt on the earlier of the time the Company makes an announcement to the market in
relation to the potential transaction and the commencement of trading on Tuesday, 2 August 2016."
Posted at 29/7/2016 06:54 by p@
FOR IMMEDIATE RELEASE



London, UK, 29 July 2016: The Board of Sierra Rutile Limited (AIM:SRX) ("Sierra Rutile" or the "Company") notes the announcement made today by Iluka Resources Limited ("Iluka") and confirms that it has received an approach for the issued and to be issued share capital of the Company at a price of 36 pence per ordinary share in cash. Discussions are at an advanced stage, however, there can be no certainty that an offer will be made or as to the terms of any such offer. As a result, shareholders are urged to take no action at this time. A further announcement will be made in due course as appropriate.

The Company is not subject to the UK Code on Takeovers and Mergers ("Code") and, therefore, the Code will not apply to any transaction involving the Company.
Posted at 18/7/2016 20:23 by snowyflake
Duncan Doughnut - I have been in SRL since under its old name TRG in 2011. Do not worry about the delay in posting that article but I have always struggled to find a meaningful site which gives reliable information on rutile prices.

I have quite a few of these. In my view and that of several long termers either Pala are about to bid (they bid 30 pence in 2011 or there is a predator lining up a bid which may explain the share moves Friday 8th July in which case the shares must have come from one or two of the placees in the recent placing (cannot think of where else unless Investec still held some but below 3%)or there is a rerate going on given the hardening in prices and increased production.

Whichever the shares are under valued.

If you are interested in commodity stocks you might want to look at Berkeley Energia (BKY) but DYOR.

I would be interested in your chat room if you and your colleagues do not mind another member.

H1 results will either be between endish August and middle September. It will be interesting to see the impact albeit for a short time Gangama has made.

Good to have you on board. Plenty to go for with SRL imo.
Posted at 15/7/2016 07:06 by gary38
Sierra Rutile Limited Q2 and Half-Year 2016 Operational UpdateIntraday Sierra Rutile ChartIntraday Sierra Rutile Chart15/07/2016 6:00amUK Regulatory (RNS & others)TIDMSRXRNS Number : 2648ESierra Rutile Limited15 July 2016Sierra Rutile LimitedSierra Rutile Provides Q2 and Half-Year 2016 Operational UpdateLondon, UK, 15 July 2016: Sierra Rutile Limited (AIM: SRX) ("Sierra Rutile") is pleased to provide an operational update on the second quarter of 2016 ("Q2 2016").Highlights -- Strong quarterly production with 34,629 tonnes of rutile:- 29% increase in rutile production from Q1 2016;- 16% increase in rutile production from Q2 2015. -- Record first half-year production(1) with 61,408 tonnes of rutile:- 15% increase in rutile production from half-year 2016.
Posted at 08/7/2016 12:16 by loobrush
Yep-all is in place for a long term share price rise-look what the share price was a few years back-could easily double over a year.
Posted at 07/4/2016 16:25 by snowyflake
Felix et al- with so many mining companies around either without a licence to mine or with difficulty in raising finance for infrastructure in order to start mining or in severe debt, it is refreshing to invest in a company like SRL without any of those problems.

The problem that we have however is aligned with the interests of the iis and Pala and it is realising value. The ceo in the Proactive interview (see Proactive post above) wishes to move the company to the main market. It is one thing saying it; another to achieve it. He knows that there needs to be a free float of shares amounting to 25% of the issued capital.

That would mean issuing upwards of 100 million shares but given the inherent value of the SRL assets that would mean getting the share price up to a decent level to enable that to happen without damaging the interests of Pala the iis and the private investors. That will need a good marketing exercise which I guess is where Numis come in.
The alternative is that Pala seek a buyer off market for all or part of their shares which one would hope would put a decent floor under their exit price.

I uphold that SRL is very undervalued - good infrastructure great deposits will which last many decades, manageable debt, a good work force and not to great a number of shares in the market.
Sierra Rutile share price data is direct from the London Stock Exchange

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