Afnat Resources Share Discussion Threads

[fordtin] 16/4/2010 18:50

JV partner recently announced that it has recommenced exploration in Zambia and also resumed trading on ASX.

[marben100] 16/4/2010 15:04

News about IPO of CDC here:

I have bought a small stake today.

Cheers,

Mark

[encarter] 15/4/2010 22:53

SAGEM, They've just released an update with all you need to know and a 250k buy on Plus so the big money's moving in.

[imperial3] 15/4/2010 19:48

Anyone rated Axmin's gold prospects?

[bethany3] 15/4/2010 13:15

Exchange rate is something unavoidable when purchasing International stocks but still very popular with lots of investors eg VST, WZR, etc. Nice to know Option Stocks are still being exercised either to be sold later or converted to AXM ordinaries.

Trading definitely taken a new lease of life - sells are being absorbed and buys are met with a price rise like yesterday. Very liquid for once - could easily buy 51k this morning. Wonder if present management get seats in AXM - weren't they instrumental in making Kalahari (KAH) what it's today?

[sagem] 15/4/2010 13:00

nobody seems to be buying only selling as shown on the Plus market......I dont think investors know just what is going to happen as they have not been given enough info from AFnat to know which way to jump, so they appear to be jumping to sell rather than buy

[encarter] 15/4/2010 12:15

Yes if you buy them at 3.75p but you can buy under 2.75p. Also AXM have plans to develop their main gold prospect this year so their share price should be multiples of what it is today.

[sagem] 15/4/2010 11:58

You have to consider the exchange rate and could loose any profit made if the exchange rate is against you......

[encarter] 15/4/2010 10:05

They are considering a duel listing but if your broker cannot deal on TSX get one that can.

[jpsmithson] 15/4/2010 09:18

Do we know when the shares will be swapped.
I would imagine if your broker cannot deal on the TSX you will need to sell or transfer them ?

[bethany3] 15/4/2010 09:11

encarter......sorry I was working on the basis of 41/42% of enlarged AXM - thanks! Anyway, just bought some for the long term.

[encarter] 15/4/2010 08:05

11.5c = 7.44p. 1 for 2 gives a value of 3.72p.

[bethany3] 15/4/2010 07:41

encarter........seems to be heading in the correct direction so far. With forex at 1.546, 11.5c = 3.08p roughly.

[sagem] 15/4/2010 07:08

Should do well today now the announcement is out

[imperial3] 14/4/2010 23:16

They finished up as well tonight.

[encarter] 14/4/2010 22:36

Largely irrelevant now as AFNR shares are about to be swapped for AXM share which are much more liquid and you get 3.75p a share as things stand. As news filters through these will be re-rated imho.

[bethany3] 14/4/2010 19:31

comedy......well done at UEN. Used to own this but sold out after the Boardroom coup. Just having a look - must say lots of corporate activities since. The lack of mms, usually 3, sometimes only 2 with maximum 4 (but seldom) plays havoc with spread hence buy or sell is a real pain as stocks are tightly held. NMS can be as low as 10k on quiet days.

[comedy] 14/4/2010 18:07

sagem so is the above rns good for us??? :)

[martinfrench] 14/4/2010 16:48

GLAD I DOUBLED AT 1.75, WILL BE OUT AT NEXT STOP, 3.25-4 P.

ITS A BIT LIKE NIGER URANIUM THIS ONE, A FEW THINGS ON THE BACK BURNER BUT NOT REALLY MUCH MINING GOING ON, EXCEPT THAT NIGR URANIUM HAD BETTER ASSETS IN ITS FUND.

GOOD FOR THOSE WHO STAYED.

[hsaundh] 14/4/2010 16:35

Just had a end of day jump! Nice.

[sagem] 14/4/2010 16:28

Still time to buy this very undervalued company...all that is now happening is good for the company and it will soon be to late to get in at such a low base

[chasbos] 14/4/2010 14:56

For immediate release
14 April 2010


AfNat Resources Limited
("AfNat" or the "Company")

Arrangement Agreement signed with AXMIN Inc.

Further to the announcement on 18 March 2010 by AfNat (AIM.AFNR) that the
Company had signed a Letter of Intent ("LOI") with AXMIN Inc ("AXMIN") (TSX
Venture: AXM), the Company is pleased to announce that the parties have now
executed a binding definitive agreement ("Arrangement Agreement") setting out
the terms on which AXMIN will acquire all of the issued and to be issued share
capital of AfNat by way of scheme of arrangement (the "Transaction").

The Transaction is expected to be completed by way of a scheme of arrangement
under the laws of Bermuda. The Transaction is and will be subject to a number of
conditions including the approval of the TSX Venture Exchange, all other
regulatory approvals, and the sanctioning of the scheme by the Supreme Court of
Bermuda. In addition AfNat will be required to, among other things, convene and
hold a Court ordered meeting of its shareholders to approve the Transaction
("Court Meeting"). A majority in number representing 75% in value of AfNat
shareholders voting at the Court Meeting must approve the scheme. Immediately
after the Court Meeting the Company shall also hold a special general meeting
("SGM"), at which resolutions to implement the Transaction will be considered
and, as a condition of the Transaction, approved by shareholders.

Concurrently with the execution of the Arrangement Agreement certain
shareholders of AfNat have entered into voting undertakings with AXMIN, who
collectively represent approximately 9.6% of the outstanding AfNat Shares, to
vote in favour of the Transaction at the Court Meeting and the SGM.

In consideration for the acquisition by AXMIN of the issued and outstanding
securities of AfNat under the Transaction, AXMIN would issue an aggregate of
approximately 206,328,666 common shares of AXMIN to former holders of ordinary
shares of AfNat and an aggregate of approximately 14,961,941 share purchase
warrants to acquire common shares of AXMIN and to former holders of convertible
securities of AfNat. The number of common shares to be issued, and share
purchase warrants to be granted, may change depending on the number (if any) of
holders of convertible securities of AfNat who exercise their convertible right
prior to completion of the Transaction.

It is anticipated that after following the issue of such shares and warrants,
former shareholders of AfNat will hold in aggregate approximately 40% of the
issued and outstanding shares of AXMIN (or 42% approximately on a
partially-diluted basis).

[chasbos] 12/4/2010 18:30

12/04/2010 Exercise of Options


AfNat announces that it has received an exercise notice in respect of options
over 9,814,896 ordinary shares of 1 pence, at an exercise price of 1.97 pence
each (the "Option Shares").

Application has been made for admission of the Option Shares to AIM and dealings
are expected to commence on 16 April 2010. The Option Shares will, on Admission,
rank pari passu with the existing ordinary shares of 1 pence each in the capital
of the Company.

Following Admission, there will be a total of 421,538,939 Ordinary Shares in
issue. This figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, AfNat under the FSA's Disclosure
and Transparency Rules.