African Aura Share Discussion Threads

[affc21] 10/4/2011 19:10

Friday, April 8, 2011
4:11 PM EDTInvestment Industry Regulatory Organization of Canada - Trading Halt - African Aura Mining Inc. - AUR - V - Canada Newswire






But, absolutely no news about resumption of tradeing...

[woodpeckers] 10/4/2011 19:06

Don't like the sentiment of your argument Sean, but have to admit to being completely confused here as trading obviously did resume but can't find an announcement re what is happening. (Surely something would have had to be announced!)
Can anyone (preferably less antagonistic) shed light.

[sean cadman] 10/4/2011 17:40

Are you all mad, you are like a bunch of old women, if you read the announcements it clearly states there was a halt in proceedings pending an announcement and then later another states trading resumes as the announcement had been made.
Now as far as i know there was no announcement so dont worry yourselves.
Bye the way this all happened during London trading!

[greenroom78] 10/4/2011 14:20

Del - I can see that. I was just expressing my feelings towards a bid at this stage. I'd be gutted if we lost the IO side to an early bid at this stage. I'm not that keen on seeing a bid for the gold half either although would be less disappointed provided it was a very good offer. I'd rather the IO side got chance to prove up more of what is at Nkout and the surrounds, although I would not be opposed to a buyout at Putu (maybe leaving us 5-10% on a free carry).

[franciso1] 10/4/2011 14:10

Aureus act as a private co actually
Everething can happen IMO
We have Axmin who is in Central Africa, and also Severstal with Toparko in Burkinafaso all in the same area
Axmin have assets in Sierra Leone(Can lead to a giant gold mining co.?)
We have a project with Severstal(Swap gold vs iron?)
Aureus is part of AAAM until the april 13 IMO

[deltrotter] 10/4/2011 13:58

Would be no reason to suspend AAAM if there was a bid for the gold as they don't have that any more.

Possible bid for the Iron Ore though???

Anyone here in Canada seen this before?

[greenroom78] 10/4/2011 13:49

A bid at this stage would be a disaster IMO, especially if it is for AFF (not that I want one for AUE either, unless it is at a serious premium)

[longsight] 10/4/2011 13:47

deltrotter, fwiw, & based on the Sundance projections for revenue & opex on their 35mt pa operation, I think a similar Nkout / Ngoa / Akon operation might underpin a share price of £33 allowing for dilution to say 150m shares. Very crude comparison.

[longsight] 10/4/2011 13:38

DONSKA - I don't really have any theories for the Canadian trading halt. I am not a particularly experienced investor. 3 possibilities come to mind:

1 I suppose it cd be some technical problem with the split - but I don't see how that wd affect AAAM maybe affect AUE though that I think wd have no impact on AAAM trading. I really doubt this myself. I assume that the lawyers etc handling the split wd ensure everything was done properly & that everything wd have been checked with the authorities at every stage.

2 Take over bid? Hopefully not, speaking as a long term holder.

3 Some significant development e.g. further news from Nkout of info on Ngoa & trading was suspended because of anxiety that the news might leak out.

[deltrotter] 10/4/2011 13:29

Thanks longsight.

[longsight] 10/4/2011 13:28

deltrotter - I don't intend to engage further on the PW arguments. I've said my bit on this & everyone is entitled to their opinion. Everyone has to make up their own mind on this.

My views, fwiw, remain the same. I see ultimate valuations for the IO Co of between £33 to £68 a share after dilution, based on Jennings's earn in basis & on 5bt IO at Putu & 6bt IO at Nkout / Ngoa / Akon all grading at 34%.

[franciso1] 10/4/2011 13:23

Risk factors p.50

[deltrotter] 10/4/2011 13:19

lonsight et al - best to filer the crackpot and keep the board as sensible as it has been for a long time now.

[longsight] 10/4/2011 13:17

I don't think there is anything inherently problematic in assigning values to resources that are not yet mining & producing income. The point is that such resource valuations are considerably discounted for the various risks & time aspects in comparison with actual mining cos which are producing.

I wd agree that the valuations applied to AAAM are ludicrous. Why? Because they operate on the quite bizzarre assumption that AAAM & Aureus will find no more IO or gold other than the resources already uncovered. Even then, the values applied to current resources are very discounted to the peer group of other West African explorer / miners.

[pwhite73] 10/4/2011 13:10

blah blah

I cannot think of any greater accolade or commendation from another poster than to be filtered when challenging incessant pro-company posts or ramping.

Thank you.

[blah blah] 10/4/2011 12:32

Congratulations, PWhite73, in more than five years of mostly passive reading of ADVFN, in which time I've seen plenty of trolls try to trash stocks I've been involved with, you are the first contributor I've ever filtered. Not only are your posts worse than rank amateur level attempts at running the company down, they're not even funny, deliberately or otherwise.

PWhite73 - 10 Apr'11 - 11:50 - 8954 of 8957 (Filtered)

[deltrotter] 10/4/2011 12:27

Yeah j1nxed. In the UK there is a three day 'delay' (called T+3) between a person buying a share and them appearing on the official register.

Basically they check the register on a Friday and to be on that register you must have held the shares at close of trading on the previous Tuesday. If you sold them on the Wednesday you would still be on the share register on Friday, but would not be on it on the following Monday. Its that simple really.



This is very common practice and I can not see why that would halt trading in Canada.

[donska] 10/4/2011 12:24

I agree with you longsight the board and shareprice have more than performed well over the past 12 months and IMHO they made details of the split clear. Have you any theories into the trading halt in Canada?

[j1nxed] 10/4/2011 12:16

@Sithuk

you don't receive your dividend exactly the day after the ex-entitlement and here you have to actually list the company instead of just paying out cash

I don't understand why people have a hard time understanding this split since it is almost exactly like dividend. So this has nothing to do with uncertainty unless you had no idea they were splitting the company.

[pwhite73] 10/4/2011 11:50

I'm glad to see the Canadian regulatory authorities are not asleep and will prohibit the use of the formula:-

£0 + £0 = £300 million.

[longsight] 10/4/2011 11:40

Sithuk - imo, there are always complaints. But if shareholders disagreed with the arrangements for the split they cd have sold their shares before it took place. Given the share price performance over the last year & the prospects for the next 12 months I don't think there is really too much to complain about.

[sithuk] 10/4/2011 11:22

I suspect there might be complaints from holders who are experiencing a plummet in their AAAM holding with no corresponding Aureus valuation to compensate.

Does anyone know why Affero and Aureus didn't both start trading on the same day? It would have removed the uncertainty, I have often seen it said that the market hates uncertainty. Is it cheaper to handle a split this way? I am uncertain as to the advantage.

[5070481] 10/4/2011 10:10

Usually you hear rumours regarding news coming out or at least see some volume spikes beforehand. Seems trading has been halted very suddenly on TSX. Are we expecting news on Monday morning or for AAAM to be halted on London exchange as well?