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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Asa Resource | ASA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.925 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.925 | 1.925 |
| Top Posts |
|---|
Posted at 19/8/2023 07:51 by plasybryn I've been in touch with a reliable source who wishes to remain anonymous. They are not very optimistic of a satisfactory outcome unless certain transactions go our way.The understanding is that RPI and the directors (some of who have significant skin in the game) are still trying to piece together what's left of the assets. Therefore they still have a very real incentive in retrieving what's left of ASA. However, the value of legacy assets is contingent upon rescuing ASA's jewel in its crown. That is Zani Kodo licences in the DRC, which were allegedly taken by a third party via questionable means despite ASA/Mwana investing over $50m in exploration across a 10-year period. Back in 2016/17 Zani Kodo had a 2.7m oz resource so that would suggest a value in excess of $200m at today's prices. It would need significant investment to realise this value but RPI has deep pockets. My source says if the current directors don't retrieve these licences then what remains will probably be crystallised in an orderly fashion, but will not be meaningful for existing shareholders. So it looks like it's an all or nothing gamble on these licences!I believe there is general frustration on the promised accounts and the anticipated shareholder communication. I wonder are they waiting on a breakthrough in the DRC before going more public - just my hunch. My source's experience considers approaches to the FCA to be largely a waste of time because previous efforts never came to anything. But what other avenue is there?I heard from a separate source that Mr Dearing is no longer a director but he may be assisting/consulting on outstanding legal matters which I guess must directly or indirectly help if the above efforts come to fruition.Like others, I am amazed that there is apparently no investor protection in these circumstances. Some investors believe that the existing controlling owners could in theory walk away with whatever is recoverable, but I understand there is goodwill in sharing the spoils (maybe in the form of a share buyback) if the current directors secure the ZK licences in the DRC. |
Posted at 17/9/2022 09:42 by casabella2 InvestorsFollowing an open offer in 2017 the majority of the issued share capital of the Company is owned by Rich Pro International Limited. There are many small shareholders who did not accept the offer by RPI at that time. Additionally, there are a number of shareholders with significant holdings who are engaged in dialogue with both the Board and Rich Pro with a view to ensuring that the interests of minority shareholders are not overlooked. The Board is committed to looking to the interests of all stakeholders, including shareholders both large and small. Whilst the shares remain unlisted there is no open market for dealing in shares. Steps are underway for paper certificates in respect of shareholdings which were formerly held electronically under CREST to be issued to shareholders. There are no immediate plans to return funds to shareholders or to wind up the Company and there are no immediate plans to seek a re-listing of the shares on AIM or any other stock exchange. General meetings Annual General Meetings (AGM) of the Company have not been held since 2016 owing to the Administration. As soon as the Directors are able to lay an annual report and accounts before shareholders an AGM will be convened. The date, time and place of any General Meeting will be circulated to shareholders and detailed upon this website. Owing to continued travel restrictions it is possible that the full board of directors may not be present in person and a virtual meeting may be held instead. |
Posted at 17/9/2022 09:34 by casabella2 hxxps://www.asaresouI think this is an update on previous posting. |
Posted at 17/12/2020 11:34 by bcape Companies in early stages where a £5m cash insertion might be very profitable for investors I think should include:Moxico ESC ZIOC TLOU |
Posted at 20/11/2020 20:25 by bcape I've heard nothing more from Interactive Investor... responses seem to differ. Surely, either the Administrators or the current ASA Board CEO/Chairman should write to us.If the shares are just removed, we are left with no proof of ownership if there are assets left with ASA. |
Posted at 19/11/2020 16:20 by bcape Not sure, a few months there was a post here which indicated about £18m plus a few smallish assets. I hope we will get an RNS which will tell us.I do not know how many shares will be in issue either, as some might have been cancelled; probably not issued. Haven't actually heard any more through Interactive Investor, and nothing from Barclays Smart Investor. |
Posted at 19/11/2020 09:21 by bcape Just created new thread.Interactive Investor tell me that ASA Resources are going to come out of Administration on 18/11/20, today. No RNS as yet. 1.925p a share when going into Administration, post 2.1p share (thought low) offer. Many assets gone to clear the debts, post theft to some extent. Estimates of residual cash indicate the share price could be about 1.2p. Any views? My vested interest is about 550,000 ASA shares. |
Posted at 19/11/2020 09:10 by bcape Interactive Investor have informed me that ASA will be coming out of Administration on 18th November (today) and that I should remove any related, unwanted buy/sell orders.No RNS yet, or sign of shares being in the market again, nor any price spread. |
Posted at 20/5/2020 10:06 by gfrae braid, your explanation of Dearing's motives makes sense. He claimed to be acting on behalf of small investors when he appeared from nowhere to get rid of Mpinga and put Ning in control. He was almost certainly being remunerated by Ning then, and maybe now. |
Posted at 28/4/2020 17:07 by plasybryn Re: Zani-Kodogold it also says:- The DRC authorities have initiated proceedings to take over this site, which contains at least 2m ozs and has recently attracted the keen interest of the serial mining investor Klaus Echo (Africa Intelligence 10/03/2020).Hopefully there are some assets which can still be sold. The directors appointed Duff & Phelps to conduct the voluntary liquidation. I'm sure it wasn't expected that once the secured creditors had been satisfied that they would walk away leaving shareholders high & dry, especially as the directors like Dearing and Henry were holders of considerable shares themselves. How could that go so wrong in the Terms of Reference? But here we are and it's right that Dearing fights to stop them washing their hands, especially as I'm sure just satisfying secured creditors made their job easy and meant they didn't have to fight for competitive prices. Seems a bit of a shambles to me. |
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