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|greatland gold about to be taken over for 5p...only o.4p to buy
LionGold not giving up Unity Mining chase
Controversial Singapore group LionGold has indicated it is not about to abandon its pursuit of ASX-listed Unity Mining, despite last year's spectacular market slump.
LionGold gained prominence during 2012 and 2013 when it swooped on a collection of high-cost and troubled gold assets around Australia and the world, including the Ballarat fields made famous by the Eureka Stockade in 1854.
Unity - with its operating Henty mine in Tasmania and its Dargues Reef prospect in NSW - became the best of LionGold's assets when the Singapore group bought 13 per cent of the gold miner 10 months ago.
But the gold slump of 2013 took its toll on both parties, with Unity becoming a more marginal operation, and LionGold shares spectacularly collapsing in Singapore by almost 90 per cent[iframe id="titan-conditionalAd-300x250-pos-3" name="titan-conditionalAd-300x250-pos-3" width="300" height="250" frameborder="0" scrolling="no" marginwidth="0" marginheight="0" style="font-family: inherit; text-align: center; font-style: inherit; font-weight: inherit; margin: 0px; padding: 0px; border-width: 0px; vertical-align: bottom;"][/iframe]
But LionGold has indicated today it is still acquisitive for gold, despite last year's market trauma.
The group has agreed to increase its stake in Unity to 19.9 per cent under a share purchase plan run by Unity.
The sums involved are small - LionGold will pay just $2.37 million to increase its stake - but they will indicate to marginal gold producers everywhere that LionGold is still active in the market place.
No doubt the consistent rise in gold prices since December has helped resuscitate the Singapore group, with the yellow metal fetching about $US1330 per ounce this morning.
LionGold has also agreed to escrow its stake in Unity for one year, guaranteeing Unity the continued support of its biggest shareholder.
The news is a boost for Unity who themselves are rumoured to be circling Greatland Gold with an all share offer of 5p.
Close proximity neighbours Greatland have a gold deposit south of Devonport has strong potential for mining.
Parts of it have six times the gold grade that the Henty mine has recently produced.
The Firetower deposit has so far been defined as 400 metres long with a width of up to 80 metres.
The project comes under an agreement between Unity and London-listed Greatland Gold.
Unity is also continuing exploration efforts at Henty, on the West Coast.
It will focus exploration spending on resource extensions at its Read Zone.
The Firetower area is about 35 kilometres from Devonport.|
|Well, well well.
We have a takeover bid .!!!!!!
Yet again a massive return in 15 months .
As posted above a de listing is often a way to make very large profits.
As proved with this stock.|
|"Another one bites the dust"|
|Yep,markets are such fun.!!|
|"I take a view on every stock and this is a 3 way play."
It could go up, go down or remain unchanged?
|The MM and ALL shareholders have just 660,000 shares to play with.
That has been the case for 5 years they have been listed.!![NOT NEWS]
The de listing may [or may not] force the issue.
On top of that you have the cashin the bank.
No one has any idea what the stock could be worth in five years after de listing but this firm is in profit [unlike others that de list.]
I take a view on every stock and this is a 3 way play.|
|tara I take it you think the MM's are now short and will have to cover by buying shares back on the market?
Could work, crazy things happen, just would not want a tiny percentage when it goes private, in my opinion on delist thats your money lost.|
|The poster who put up the header in 2009 makes it clear.!!|
|Exactly but you should stop pumping this everywhere and start telling people
about all the other stocks you have pumped that have been delisted !|
|That is what 98% of investors would think.
But not me, i look at it as a gift .!!|
|Even more reason not to buy the stock tara !|
|Immediately following the Delisting, there will be no formal trading facility
for dealings to take place in Ordinary Shares and no price for them will be
publicly quoted. It is not the Board's intention to implement any form of
dealing facility to enable trades in the Ordinary Shares to occur.
The above is designed to scare the pants of shareholders to sell, the very reason i like the stock and the company..!!!|
|RTO is not a certain but its cash is fact as is its tiny free float.
Time will tell if you are missing something but anyone in this stock on de listing day has a company backed by cash in profit and for a song.|
|Got to be honest cant see why its a RTO target if they are going for the delisting route, small free float but a massive blocking vote from the not so free float.
Tara am I missing something here except that you now hold and its very tightly held hence even a few small buys push it up and you exit.
Sorry but with hatey on this one.|
|If you read the RNS you will see they will not have a market after de listing.
Please tell me how one can lose a lot of money when the total free float is just £6.600 pounds.??
Re RSI investors made money 300% by trading that stock AFTER the de listing was put out on an RNS.
Investors should note a de listing = you still own part of the company as a shareholder and fear of the delisting can produce huge rewards.|
|The MM have not read looked at the Free float they just treat it like any other stock.
However at some stage sellers have to hand over the stock [3 or 10 days ]and buyers get stock when the MM hands it over.[no real time limit but a de listing may force the issue.
To me be its a one way investment
A: gets de listed and MM delivers the stock [its up to him to find it]
B; cash of £5M cost to buy a stake £3M|
|660k in free float so why do the last two trades equal that more a less?|
|This must be the best de listing stock ever in my view.
£6,000 buys the free float|
|Tara, have you had a quote for RSI now they are private?|
|Research safman, I see it was you who were upbeat and bought and started the thread.!!!
I like this stock for the points above i have posted.
At some stage the MM have to deliver stock, they work on the idea that sellers will push the stock down at some stage, however that is not the case with this stock as only 600,000 free float.
Only one lender of stock and that HAS to be re paid at some stage.
Its a win win for shareholders.
Company has £5M cash|
|Also we have a month for any company to come along and do an RTO into INFO
[A very clean cash filled shell].!!
All for £6,000 [buys all the free float.!]|
|I suggest a delayed trade at around 0.94p..
I was offered 250k at that level... so you'll be able to see Tara's trade..
Its delisting so you'll see Tara try to ramp this as much as possible..
he/she has 3 weeks to ramp it..
|Well, nothing would surprise me on this market.|