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MIO Minco

2.65
0.00 (0.00%)
16 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Minco LSE:MIO London Ordinary Share IE0004678326 ORD EUR0.0125
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 2.65 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
2.50 2.85
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.65 GBX

Minco (MIO) Latest News

Real-Time news about Minco (London Stock Exchange): 0 recent articles

Minco (MIO) Discussions and Chat

Minco Forums and Chat

Date Time Title Posts
16/5/202421:10Buchans Resources - formerly Minco1,312
16/11/202117:53Minco - Irish Zinc and Mexican Silver6,535
02/12/201508:26There is ZINC in them thar Pennines!!!1,862
21/10/201423:44MIO - The Utterly Free Speech Thread30
23/4/201417:30Minco shareholders lost 90% of value15

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Minco (MIO) Top Chat Posts

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Posted at 16/5/2024 21:10 by anynews
They're not going to loose this time..GRANT OF STOCK OPTIONSThe Company also reports that it has granted 3,000,000 incentive stock options to directors, management and certain service providers, which vest quarterly over two years. Upon vesting, each stock option is exercisable at $0.10 per share until May 14, 2029.
Posted at 10/5/2024 07:07 by bodgit
Buchans Resources Limited (the “Company”; or “Buchans”;), a Canadian mineral exploration and development company, reports that it held its Annual and Special Meeting of shareholders today in Toronto.

John F. Kearney, Chairman and Chief Executive Officer, provided shareholders with a review of the current position and outlook for the Company.

“In December 2023, Buchans sold our mineral exploration properties, located in Newfoundland, to Canterra Minerals Corporation, for shares of Canterra.

That represented a total value of $11.5 million. That is equivalent to 18 cents per share of Buchans.

For the year ended December 31, 2023, Buchans recorded income of $5.6 million, and ended the year with a working capital surplus of $15 million.

As previously reported, Buchans intends to distribute at least 67% of the Canterra shares to Buchans shareholders. That was the purpose of the special resolution to reduce the stated capital, which was passed at the meeting today. so that we can make that distribution on a tax efficient basis.

We plan to make the distribution during the second quarter of 2024.

It is important to note that Buchans shareholders will retain their shareholding in Buchans, which will continue to hold our, long overlooked, but promising, nickel copper cobalt, and gold exploration assets, in Labrador.

Our South Voisey’s Bay project has high-priority, drill-ready, targets in a confirmed, Voisey’s Bay style, environment, while our Tasiuyak Gold Project is believed to represent an orogenic, iron formation-hosted, gold environment, comparable to the renowned, former Homestake, gold mine, in South Dakota.”

At the same time, shareholders will continue to participate, indirectly, in ongoing exploration in the Buchans camp, in Newfoundland, through holding the shares of Canterra, which will be distributed.”


ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

We are pleased to report that Buchans’ shareholders passed a special resolution to approve the distribution of Canterra shares to Buchans shareholders. Further information on the Distribution will be disclosed in due course, but it is expected that the Distribution will take place in the second quarter of 2024.

We now intend to distribute (the “Distribution”) the majority of the Canterra Shares underlying the Consideration Warrants received from the Canterra Transaction (the “Distributed Shares”) that we currently hold to our shareholders. We intend to effect the Distribution as a return-of-capital, which we believe is the most tax efficient manner of effecting the Distribution.

As described further in the Circular, we intend to retain a shareholding of Canterra Shares valued at approximately $3 million to fund our nickel, copper, cobalt and gold exploration assets in Labrador and general working capital, with the goal of advancing these long overlooked but promising assets over the next 2 years, and to provide ongoing working capital for the Company.


ELECTION OF DIRECTORS AT AGM

All of the nominees for re-election as director were re-elected, to serve until the next annual general meeting of shareholders. The results were as follows:

Director For Withhold
John F. Kearney 11,307,120 3,177
Patrick Downey 11,307,120 3,177
Terence McKillen 11,307,120 3,177
Peter McParland 11,307,120 3,177
Michael Power 11,307,120 3,177
Danesh Varma 11,289,774 20,523

RE-APPOINTMENT OF AUDITOR

McGovern Hurley LLP Chartered Professional Accountants were re-appointed as auditor for the current year and the directors were authorized to fix the remuneration of the auditor with 11,348,885 shares voted in favour and 2,354 shares withheld.


APPROVAL OF STATED CAPITAL REDUCTION AND RETURN OF CAPITAL

Shareholders approved the reduction of the stated capital account, for the purpose of distributing shares of Canterra Minerals Corporation to Buchans shareholders with 11,302,743 shares voted in favour and 7,554 shares against.

Click here to download a copy of this News Release (PDF).
Posted at 30/4/2024 03:19 by marthy
Well done 👍👍 to John Kearney. He's still beavering away. He got twenty million out of Pallas Green in County Limerick and that's still not producing. Another fistful of $ out of Dalradian and they are still waiting for planning permission. There's still a bit in CDMN and some more to come out of Buchans with the Canterra CVE:CTM deal. Any guesses what that could be worth. Say 100,000 Buchans with Canterra making 10cents a share. They were at 11 last Friday. Once again, Well done,John Kearney
Posted at 28/4/2024 13:09 by anynews
Canadian Manganese are being cagey with information...

Their Annual report is on the Website under Financial reports since March 27th.

They have set out plans for 2024 subject to financing.

Remarkably they have not revealed the drill results carried out in Spring 2023 on the North Hartford property!

There is little doubting its a massive resource but the development of this is in the hands of Governments policy, subsidies and Battery Companies.

For my longstanding Minco investment I reckon I would need $1 a share here (the "strongest company" + lesser amounts on Buchans, Minco etc) to make a nice profit. Can't see that anytime soon.
Management have options at 18c in 2025 & 25c in 2026.
Posted at 06/4/2024 09:57 by bageo
Cheers - reading the circular:

Based on the foregoing and the recent range of share prices of Canterra and Royalties, the Company currently expects that holders of Buchans Shares as of the close of business on the record date (the “Distribution Record Date”) for holders of Buchans Shares will be entitled to a distribution of Distributed Shares (the “Distribution”) comprising between 1.5 and 2.0 Canterra Shares and 0.5 Royalties Shares per Buchans Share.

Royalties Inc $C0.035 (listed on website not sure what real price is with low volumes) I'm assuming no value after broker fees
Canterra $C0.08

so about C12-16 cents + remaining Buchans shares
Posted at 02/4/2024 16:01 by lendmeafiver
Thanks for that, great news, share price reacting well.
Posted at 19/2/2024 20:37 by lendmeafiver
Sounds excellent, I guess nobody has heard anything yet on the share distribution?
Posted at 21/12/2023 19:57 by bodgit
CDMN shares this year have been by a country mile the worst performer in my portfolio Difficult to see them recovering to their issue price of 50 cents. What is the likelihood of a decent recovery in the share price in 2024? Merry Christmas.
Posted at 10/11/2023 11:54 by steve36
Actually, I think the 21% fee is only payable if the debentures are paid off early? If they go to maturity the cost is 'just' 15%. Repayment will not be a problem if the share price is greater than the conversion rate of 33c but that's not looking too likely at the moment. Seems like a gamble on things looking much more promising within 2 years. Lets hope such optimism is well placed.
Posted at 01/8/2023 14:58 by anynews
Fiachra Re Financing see below. Maybe someone can enlighten us is it $.25 or $.35 per share??
Correction: John Kearney's invested $100,000 in May 2021.
In connection with the acquisition of Maximos, CMC has closed a non-brokered private placement equity financing (the "Financing") through an offering of subscription receipts ("Subscription Receipts") at a price of $0.30 per flow-through receipt ("FT Subscription Receipt") and $0.225 per non-flow-through receipt ("HD Subscription Receipt"), led by key supporting investors, including certain Maximos insiders, Clarion Finance Pte Ltd., and Commodity Capital.

Pursuant to the Financing, CMC issued 17,544,443HD Subscription Receipts at a price of $0.225 each for gross proceeds of $3,947,499.68 and 6,666,666 FT Subscription Receipts at a price of $0.30 each, for gross proceeds of $1,999,999.80. Each HD Subscription Receipt entitled the holder to receive one CMC Share, for no additional consideration, on completion of the amalgamation and each FT Subscription Receipt entitled the holder to receive one flow-through CMC Share, for no additional consideration, on completion of the amalgamation.

The gross proceeds of the Financing were deposited in escrow on closing and the Subscription Receipts automatically converted into CMC Shares and the funds released to CMC upon completion of the Maximos acquisition and the satisfaction of the other escrow release conditions.

Finders fees of $224,000 in cash and 333,333 share purchase warrants were paid and issued to certain arms-length parties for assisting in the Financing. Each warrant entitles the holder to purchase one CMC Share at a price of $0.27 per share for three years following the listing of the CMC Shares on a Canadian stock exchange.

John F. Kearney, an insider of CMC, subscribed for 444,444 HD Subscription Receipts for gross proceeds of $100,000.

Toronto, May 16, 2023 – Canadian Manganese Company Inc. (“CDMN” or the “Company”;) (NEO: CDMN) is pleased to announce a proposed private placement of (i) up to $5 million of convertible debentures (the “Debentures220;) for an aggregate purchase price of $4,800,000 (representing an original issue discount equal to 4% of the purchase price) and (ii) up to $5 million of flow-through shares (“FT Shares”) at a price of $0.25 per FT Share.
The details of the Debentures are as follows: (i) the Debentures will mature on the date that is two (2) years from the date of issuance (if not otherwise converted or prepaid) (the “Maturity Date“); (ii) the Debentures will bear interest at a rate of 14% per annum, payable semi-annually in arrears; (iii) subject to any required regulatory approval and provided no event of default has occurred and is continuing, the Company shall have the option to pay such interest by delivering a number of common shares (“Common Shares”) of the Company calculated using a Common Share price equal to the volume weighted average trading price of the Common Shares for the 20 consecutive trading days immediately prior to the applicable interest payment date; (iv) the Company shall have a right to prepay or redeem a part or the entire principal amount of the Debentures at par plus accrued and unpaid interest at any time; (v) each Debenture will be convertible into Common Shares at the option of the holder at any time prior to the close of the third business day prior to the earlier of: (a) the Maturity Date, and (b) a redemption date, at a conversion price of $0.335 per Common Share, subject to receipt of regulatory approval.
Minco share price data is direct from the London Stock Exchange

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