Gma Resources Share Discussion Threads

[pwhite73] 07/2/2013 08:39

76 billion shares who gives a toss. When has AIM trading ever been about true value?

No its about lying directors, lying posters, market makers, pumpers, dumpers, fear and greed. That's the criteria you go by. Anyone who's investing/trading on what they believe to be true value will very quickly be parted with their money.

[sideshowbull] 07/2/2013 08:37

0.053 not 0.54!!

[noirua] 07/2/2013 08:35

GMA are not cheap on the figures if you take them as they are. The shares are worth 0.108p on the £40m purchase being fair value, but maybe it's worth far more than this, maybe. Middle price between 0.057p (without deferred share) and 0.104p with deferred share. Somewhere between these prices is correct value PROVIDING the £40m is, I repeat, fair value - market sees the moly/tungsten assets worth far more and I tend to agree, a lot more, imho.

[topinfo] 07/2/2013 08:25

Imagine if you bought the highs yesterday, 90% loss almost already and falling.

[topinfo] 07/2/2013 08:16

Lol People still buying GMA at 0.2p coz its cheaper than yesterday, but its still overvalued by 3 times according to them figures?????????

[andrbea] 07/2/2013 08:00

"seventy-six billion" is terrible, I agree

for completeness' sake:
anybody know the value of the assets of kmrc, or its mkt cap (in pounds)?

[sideshowbull] 07/2/2013 07:57

Good post code, the worst bit is we have seen it all before.

What's a bet some numpties will still keep buying!

i have put a warning in the header - hope it helps.

[scientologyweirdo] 06/2/2013 21:51

How can you distinguish this loss from all your other losers though ?


Highly Geared
6 Feb'13 - 18:38 - 2183 of 2185 0 0

Probably; I did as 0.61p; seemed a good deal when I could only see the shares being worth 0.053p. Still a big loss from 4p purchase but six hundred quid better than zero.

[tivoliworldgaming] 06/2/2013 21:40

Some fool bought 496,517 shares at 1p when the price was 0.85p to buy.
Why pay 10 times more when they could of paid just 0.1p for them yesterday at 8am.
Really looks like some people just love throwing money down the drain.

[sideshowbull] 06/2/2013 19:35

I feel for the traders that bought into the hype -
I think most of us old long termers were "bummed" so many times that we will never trust BOD ever again.

I tried to warn but greed seemed to get in the way for most.


GMA RESOURCES - GMA



sideshowbull - 05 Feb 2013 - 07:56:05 - 2035 of 2184



So �40m float KEM / 148,320,720 = 26.96p per share.
GMA will get 1:500 KEM shares so 26.96/500 = 0.05392 GMA money now..
Are my calcs correct?
DYOR

[highly geared] 06/2/2013 18:38

Probably; I did as 0.61p; seemed a good deal when I could only see the shares being worth 0.053p. Still a big loss from 4p purchase but six hundred quid better than zero.

[mackenzie12345] 06/2/2013 17:57

Just bringing this thread up to date!

RNS 14/11/2012

As at 30 June 2012, the Company had unaudited current liabilities of approximately £6.25 million and no assets. Furthermore, the maturity date of the Loan Stock is 31 December 2012. As it is unlikely that the Acquisition will have completed by this date and the Company will not have sufficient cash reserves to meet its payment obligations pursuant to the terms of the Loan Stock, it is proposed that the terms of the Loan Stock are amended as follows:

the maturity date of the Loan Stock be extended from 31 December 2012 to 31 December 2013; and all interim interest payments be deferred until 31 December 2013, whereupon such interest payments that have accrued up to and including that date shall become immediately payable together with the outstanding principal amount.

The Loan Stock comprises £4,650,000 nominal of First Loan Stock and £1,190,000 nominal of Second Loan Stock.


RNS 6/2/2013

Loan Stock Holders will be asked to approve at the relevant class meetings of Loan Stock Holders amendments to the terms of their loan stock such that their holdings automatically convert into New Ordinary Shares upon the Contract Reinstatement. A total of 2,472,011 New Ordinary Shares will be issued to the holders of Loan Stock upon the Contract Reinstatement, which will represent 1.63 per cent. of the New Ordinary Shares in issue following the Contract Reinstatement


So £5.8m plus accrued interest converts to 2,472,011 new ordinary shares

Based on GMA share price 0.255p(close 6/2 2013) and the proposed 500 for 1 new share consolidation this values 1 new share at £1.27

Loan stock conversion shares are therefore currently worth c.£3.1m

Looks like a 50% haircut for the GMA loan stock holders

(existing)GMA share price needs to be => 0.48p for loan stock holders to break even

Anyone like to confirm or disagree with my calculation?

[comedy] 06/2/2013 17:37

did all of us who sat through suspension sell out today and yesterday???

[missagain] 06/2/2013 17:12

Ohhh b*ll*x .... now I need this to 10bag from here to break even - still better off than I was a few days ago when it was lower than this !-)

[sideshowbull] 06/2/2013 17:01

I need to make it clear that as moderator I have sold all of my GMA shares - I am running the thread until someone wants to take over - please feel free to start a new thread.

Gluck sideshow

[noirua] 06/2/2013 16:55

How much are these assets being backed into GMA really worth?
How much will a Bankable Feasibility Study really cost?
Where will the money come from?
Will there be a placing or and rights issue?

Kazakhstan can be difficult territory with the winter seeing temperatures down to minus 40 degrees. Hambledon had real problems, and so have Frontier with a shutdown during the winter period.

Needs to be very carefully looked at both from the positive and negative point of view.

[sideshowbull] 06/2/2013 16:51

Expected timetable of events
2013
Publication and despatch of the Admission 4 February
Document

Latest time and date for receipt of completed 10.00 a.m. on 26 February
A Forms of Proxy to be valid at the First
Loan Stock Meeting

Latest time and date for receipt of completed 10.05 a.m. on 26 February
B Forms of Proxy to be valid at the Second
Loan Stock Meeting

Latest time and date for receipt of completed
C Forms of Proxy to be valid at the General 10.10 a.m. on 26 February
Meeting

First Loan Stock Meeting 10.00 a.m. on 28 February

Second Loan Stock Meeting 10.05 a.m. on 28 February

General Meeting 10.10 a.m. on 28 February

Capital Reorganisation Record Date 5.00 p.m. on 28 February
(or such later time and
date as the Board may determine)

Completion of the Acquisition, issue of 8.00 a.m. on 1 March
Consideration Shares, Admission and commencement
of dealings in the New Ordinary Shares
on AIM

CREST accounts expected to be credited
(where applicable) with New Ordinary Shares 1 March
arising from the Capital Reorganisation

Share certificates in respect of New Ordinary 13 March
Shares arising from the Capital Reorganisation
to be despatched by

Commencement of dealings in the Loan Stock
Shares and the New Ordinary Shares arising
from the conversion of the Consideration
Shares is expected to be on the day following
Contract Reinstatement. CREST accounts
are expected to be credited (where applicable)
with such shares on the same date. Share
certificates in respect of such New Ordinary
Shares are expected to be dispatched within
seven days of such date.

Longstop date for Contract Reinstatement 31 May
-------------------------------------------------- ----------------------------------

[andrbea] 06/2/2013 16:42

and the float price on March 1st?
if its ca. 26p the calcs above are right
if it's much higher, the herd will come back.

[sideshowbull] 06/2/2013 16:30

True bungee but float seems easier for people to understand.

[bungeetrader] 06/2/2013 16:27

There is no float. It's a reverse takeover and a change of name. Good luck to those that made on this but there will be some nursing huge losses. It is still vastly over priced even as it stands now.