Bullabulling Share Discussion Threads

[pongo88] 07/7/2014 14:44

Thanks Tem. I've had two conversations with HSBC directly and sent them three mails. I get the same response as you. They just refer to their letter - "7 cents, closing date of 11th July". Will be calling them again tomorrow. Not prepared to let this drop... as 7 cents will cost me approx £2K. If no joy will take it up with head of corporate action at HSBC.

[the count of monte_cristo] 07/7/2014 12:47

OT - anyone do any DD/research on MNC over the weekend. Be interested in your thoughts on the MNC bb if you did.

[midas7777] 07/7/2014 11:54

When are the recent assay results going to be released. I understood that they were to be announced in June.

[sweepie2] 07/7/2014 11:52

Thanks for this and all you did for the thread, just abit sad that naive management has let us down and cost all of us hard earned pennies

[temujiin] 07/7/2014 11:48

Sweepie, certainly will, but as Carl and Jaws have posted some more info, and in particular this

'all holders who validly accepted the offer will receive the higher price irrespective of whether or not they accepted the higher conditional offer.'

I see little doubt it will be 8c for all. Be nice to hear it from NGF anyway :)

[jaws6] 07/7/2014 11:36

Temu
just send them this email and ask why allother brokers doing this and not HSBC?
out of 6 brokers one of my broker is saying still same thing too as HSBC .Clever brokers

Stock BULLABULLING GOLD LTD
Event Type Takeover
Description (Takeover - Increased and Extended Offer) (Offeror: Norton Gold Fields) (Offer Price: AUD0.08 (increased from AUD0.07)) (Pay date: Upon Receipt) (Option 1: Do not Accept (Default)) (Option 2: Accept the Offer) The default option will apply to all holders whose instructions are not received by the deadline date. Please be informed that Norton Gold Fields is extending the Offer to purchase all of the issued and outstanding Shares in Bullabulling Gold. Under the terms of the Offer, Holders can elect to receive AUD0.08 (increased from AUD0.07) cash in exchange for each Bullabulling Gold Share held. Upon becoming the holder of 90% of Bullabulling Gold, Norton Gold Fields intends to proceed with the compulsory acquisition of the remaining Shares. Accounts will be updated on upon receipt of the new stock from our custodian.

[sweepie2] 07/7/2014 11:30

If what thy say is true it would be rubbing salt into open wounds and to think what high hopes we had for BGL, please post any clarification you receive please
Thanks

[temujiin] 07/7/2014 11:05

Pongo, I had a long word with HSBC and they are reading from their last notification form NGF in June which gives two option,

1. accept 7c,
2. or accept 8c conditional which expires end of June.

They are saying as the offer for 8c has expired you can only accept the 7c offer. However we all know that NGF have increased the offer to 8c as they got 30% of BGL. NGF haven't said you'll only get '8c if you are the ones who accepted before 30th June.' It's a blanket increase for all BGL shares whether or not you accepted in June or now.

I've sent a quick email to Norton to confirm but I can't see how it can be anything other than 8c equivalent for everyone. Settlement is 14 business days afaik.

[temujiin] 06/7/2014 11:56

Pongo, I'll have a word with H-L and as I have a few in HSBC will call them tomz as well to confirm 8c. I cant see how they can pay anything less as that is the final offer by NGF.

[pongo88] 06/7/2014 08:08

Tem...HSBC broking are being quite intransigent insisting the offer is 7 cents with closing date of 11th July.

Could you possibly elaborate on "Not sure why people are selling at 3.9 - 4p when you can get 4.38p in a couple of weeks and I think no dealing fees, but each to their own. I'm sure many of us will meet up on other boards sooner or later. This one has been a pleasure to read."

Many thanks...

[264091] 04/7/2014 18:54

Thanks Midas, so if that's right, then this business of needing to accept early in case they reach 50% and we're left stuck in a minority is a bit of over-hype.

If Norton reach the 50% last minute, then there's an automatic extension anyway for those who preferred to see it happen before accepting.

Actually, that should have been made more clear by BOTH the bidder and the target. The milk is spilt unfortunately.

[retailronnie] 04/7/2014 15:44

Corporate action now available on TD

[extrapolator] 04/7/2014 15:16

Commiserations all. Like others I think it's time to revise my 'baboon' investment strategy -

[midas7777] 04/7/2014 12:36

Duration of offer
Offers under an off-market bid must remain open for acceptance for a minimum of one
month but can be extended so that the offer is open for a maximum of twelve months.
The offer period will automatically be extended by 14 days if, within the last seven days of
the offer period, the bidder's voting power in the target increases to more than 50% or the
offers under the bid are varied to improve the consideration offered.

[temujiin] 04/7/2014 12:15

Gave my instructions to Hargreaves yesterday after buying an extra 250k, instructions have been processed now and my acount for BGL shares says NA, Nortons.

Not sure why people are selling at 3.9 - 4p when you can get 4.38p in a couple of weeks and I think no dealing fees, but each to their own. I'm sure many of us will meet up on other boards sooner or later. This one has been a pleasure to read.

[jaws6] 04/7/2014 11:19

Still TD has not done for uk stock on this new offer action .

[evilblues] 04/7/2014 09:42

Thanks Count. Checking out AMA - can't seem to find out where in Africa it is though (politically & geographically)?Looks interesting on paper though - will watch with baited.

[the count of monte_cristo] 04/7/2014 09:17

Hi Evil - My above posts refer to all resource stocks, both soft and hard, I like African agri sector. In regards goldies, I would look at companies with very large gold projects, AMA is the one that stands out to me personally. STI looks very cheap and is totally unloved. Note I am not in any of these stocks, due to lack of funds. Also worth doing a review of all the copper stocks on AIM, CAML pays a very healthy dividend and is a growing copper producer with exceptionally low costs.

And if I may plug a stock, research MNC and the recent takeover by FQM and Hudbay in the sector and then look at the worlds largest copper projects currently owned by the small cap miners, then take out those which have water, land or government issues and see what you are left with and the valuations of these companies. Most copper stocks are TSX listed.

[evilblues] 04/7/2014 09:08

The count - what goldies are you looking at?Tia.

[the count of monte_cristo] 04/7/2014 08:49

Rosco - I know mate, been in the same situation with my portfolio for a few years now, can get to the emotions. I do understand.

Take a step back, do some DD on some of the really bombed out resource stocks and just weigh things up. The tide will turn at some point and when it does these stocks may surprise.

[richie32] 04/7/2014 08:48

Good luck to all. It was a very good board - very constructive - good contributors.

Still into the goldies, whether AIM or not. Good arguments from the Count.

All the best!

[rosco46] 04/7/2014 08:41

The count
Yes some good points made there, but when you have been sat on a stock like this for a very long time only to come out of it in this way with SFA to show for it you start to think its time to change your investment strategy.
Rosco

[the count of monte_cristo] 04/7/2014 08:33

Rosco - before you turn your back on the AIM miners consider deeply the following;

- The small cap resource sector situation back in 2008, and what investors were saying then and that they were turning their backs on the sector and what happened to those same stocks over the next few years.

- The fact that we are living in unusual times, THE largest migration of rural to Urban human movements, ever in the history of the world. Where will all the resources come from to feed and house these people?

- The fact that the global population is growing.

- Africa is on the rise, India is decades behind Chinas development and growth and now have a new leader.

- That arguably the resource stocks have bottomed, they have been dripping down for years, investors have suffered death by a 1000 cuts over this period.

- That the time to invest in a sector is when it is unloved, when people indicate emotionally that 'they have had enough' 'will never invest in AIM resource stocks again' etc indicates a near bottom.

- That if you choose the right stocks with cash, good management and good projects and have a few years time horizon you may well beat any investment in large cap stocks.

- The question of, what happens when the world really starts to grow again, whether that's in 2015 or 2017, what will happen then to the prices of things like copper or cocoa, for example? The markets are short term thinking, they do not see long term, and embitter investors to have this same view. The world is going to have MAJOR resource issues over the coming decade, wars over water, oil and food will be more likely. Look at India banning the export of onions, last year people were robbing trucks loaded with onions at gun point in India.

Now may actually be THE time to focus on investing in some of the AIM resource stocks, IMHO.