Afnat Resources Share Discussion Threads

[comedy] 21/4/2010 08:46

o/t thanks bethany3(re;uen) was a long wait...now will be a hold for the end game there.

[encarter] 21/4/2010 08:15

marben100, sorry i wasn't replying to you i was replying to bethany3.
I do think the statement on 14th April was prepared before the options were exercised which would give us a little better price and would fit roughly with a 1 for 2.

[imperial3] 21/4/2010 07:50

The icing on the cake is for Axmin to be making progress on its price.

[marben100] 21/4/2010 01:09

No, I am not wrong - I did not use 40% in my calculation. To spell it out: there are 421.5m Afnat shares in issue (after the lastest option exercise). These will acquire 206m Axmin shares, i.e., each Afnat share will become 206/421.5 Axmin shares, so with a share price of CDN0.105, that means each Afnat gets you CDN0.105*206/421.5 worth of Axmin = CDN0.0513 = 3.3p at current exchange rates.

OK?

[encarter] 20/4/2010 23:42

Your making the wrong equation and i think the mms are too, it's not as simple as each Afnat share being worth 40% of the value of each Axmin share. That would only be the case if each company had the same amount of shares. They will be about an extra 25% so they are worth 25% more. If they had twice as many then they would be worth twice as much. Do you get it?

IMHO it's a mistake by the mms and an opportunity for us. Hence the big buys.

1 for 2.
They were exchanging 206m Axmin shares for 412m Afnat shares. So for every 2 Afnat shares you end up with 1 Axmin share. Any questions?

[marben100] 20/4/2010 18:28

... that's just the spread: CDN0.105 - 0.120

Nevertheless, 206m shares @ CDN0.105 = 3.3p/AfNat share, if Axmin's current share price holds post the merger.

[giantpeach2] 20/4/2010 18:19

Axmin showing near 15% gain!!!!

[andrbea] 20/4/2010 15:48

Tks bethany

I emailed axmin today to ask why they don't dual list, London & Toronto?

if the likes of Barrick Gold are coming to London, why leave?

[bethany3] 20/4/2010 15:38

andrbea......depends on Forex and commission of broker I guess. Not much difference imo - where did it say 1 Axmin for every 2 Afnr? According to RNS it's between 40/42% of Axmin after takeover and not 50%. Volume is holding up. what's happening here reminds me of NYO when NYO was gobbling up mining minnows with good prospective assets but lack cash.

[andrbea] 20/4/2010 15:15

would it be a cheap way for a Canadian investor to buy axmin shares, ie buy some afnr ahead of the merger?

[bethany3] 20/4/2010 15:13

700k was bought on PLUS at 2.62p - still cheaper than my 2.7p. And the 686k trade on LSE was not categorised - Could it be the source of mms stocks? The mystery continues!

[encarter] 20/4/2010 12:47

A large buy has just shown up, that's what moved the share price My guess is that these large buys are from North America, probably the same buyer building a stake.

[martinfrench] 20/4/2010 11:56

tick up...

[fordtin] 20/4/2010 08:13

14th Apr 2010

"AfNat currently has approximately Cdn$14.9 million in cash and marketable securities."

[imperial3] 19/4/2010 23:16

Keep an eye on Axmin.

[bethany3] 19/4/2010 20:52

Any take on the volume today - 2.7m? Look at the size of them - 2 lots of 850k (1 OK), 500k (OK), 325k and 160k. Two large (OK) trades - delayed outside market size. Would anyone like to own up? None was mine.

[giantpeach2] 19/4/2010 20:34

someone buying 850k blocks!!!

[encarter] 19/4/2010 09:36

hilarious! sour grapes.

[martinfrench] 19/4/2010 08:37

the not nice bit was the fact that the bid was taken out so quickly

english seems to be a problem here.

[bethany3] 18/4/2010 21:00

Imperial.....agree. Axmin is one to watch. With Afnr cash added to Axmin assets makes a lethal combination. May even solicit a bid - just look at WTI. Remember buying this at 4.5/5p but without the potential of Axmin.

[imperial3] 18/4/2010 20:32

If you continue to hold,it is Axmin you really have to watch.

[encarter] 18/4/2010 20:16

Why not nice? Bid is up 70% in the last 3 weeks and rising. All happening and very nice for holders. Much much more to follow imho.

[martinfrench] 17/4/2010 11:44

its all happening means someone actually traded this encarter?

bid was raised and taken out immediately.

not nice

[imperial3] 17/4/2010 09:44

What? Is there news due then?

[encarter] 17/4/2010 08:29

It's all happening, can't wait for next week.