Stratmin Global Share Discussion Threads

[pictureframe] 17/8/2016 11:19

Are you for real? Great Stuff?

[comet5d] 17/8/2016 10:58

Great stuff.Patience rewarded.Another top up below 1.5p.News this week

[thegrumpster] 16/8/2016 21:11

From BSM RNS today:

"Dear Sandra
EXTENSION OF RIGHTS ISSUE CLOSING DATE
Bass Metals Ltd (“the Company”) (ASX:BSM) wishes to advise that it has extended the closing date for the Company’s non-renounceable rights issue (Rights Issue) to Friday 26 August 2016."

So they're going to miss the GM scheduled for Monday 22nd August, where investors were supposed to be voting on it all.

Will they have to organise another GM for the voting?

How long will that take?





It seems that each time that Bass has failed to meet its obligations, "our" directors have bent over backwards to give Bass an even better deal, seemingly without any consideration of whose interests they are supposed to be looking after....supposedly.

So what now?

Perhaps, as "our" lot might have been banking on the larger part of the Bass £800k cash payment to meet and clear outstanding bills, they'll be considering a swift whip round of STGR investors to make sure that everything is running well with the mine, when or if BSM finally get their act together.

Wouldn't want any BSM investors to feel hard done by, or out of pocket, would we?

Maybe they'd like to give them the shirts off our backs as well?

Washed and pressed?

[thegrumpster] 09/8/2016 11:28

BSM RNS

Another extension to the 19th from the 12th August.

Maybe not a simple formality issue, dotting i's and crossing t's as some have suggested?

------------------------------------

"9 August 2016
Ms Sandra Wutete
Listing Manager
Australian Securities Exchange
20 Bridge Street
Sydney NSW 2000

Dear Sandra
EXTENSION OF RIGHTS ISSUE CLOSING DATE
Bass Metals Ltd (“the Company”) (ASX:BSM) wishes to advise that it has extended the closing date for the Company’s non-renounceable rights issue (Rights Issue), made under a prospectus dated 12 July 2016, until Friday 19 August 2016.
The Company continues to liaise with ASIC in relation to the Interim Stop Order (“the Order”) and we believe the extension will allow us to finally resolve matters relating to the Order.
Yours faithfully"

------------------------------------

Previous on 2 August:

"EXTENSION OF RIGHTS ISSUE CLOSING DATE
Bass Metals Ltd (“the Company”) (ASX:BSM) wishes to advise that it has extended the closing date for the Company’s non-renounceable rights issue (Rights Issue), made under a prospectus dated 12 July 2016, until Friday 12 August 2016.
The extension will allow the Company sufficient time to conclude its discussions with ASIC in relation to the Interim Stop Order (“the Order”) and resolve matters relating to the Order."


Edit 12 Aug.

General Meeting for BSM holders to vote, is on Monday 22nd August. So they probably need to have the prospectus sorted out by then.

Notice of GM:





Are we now running on fumes, because of this "deal"?

Plan B from "our" directors?

[illuminati1] 05/8/2016 15:29

Stratmin will remain listed as a graphite company, contact the managing director of Tirupati or our CEO if you wish.Stratmin will use the Tirupati India option see RNS. Shishir Poddar Managing Director of Tirupati and our NED confirmed this last week in London.We will get the Vatomaina project with a working 12k plant which could be producing in 12 months. It's closer to port, better grade and includes Tirupati India's invaluable graphite expertise. More than 30 years in the graphite business. They in return get access to international capital markets. As of June (see website), 75% of shares are held by private investors so quite a large free float. The majority of us PI's were in favour of the Bass deal which was approved a week ago. Stratmin sold the Lohorano mine for a total A$16m ~£9m (cash, shares, royalties) to Bass and will continue to be a major shareholder. Bass first suspension was a speeding ticket +150% within 2 Hours!, currently suspended as they need to amend their prospectus hence the delay. But their approval is just a formality.Hope this helps

[knowsleyman1] 05/8/2016 12:13

Comet5D & illuminati have still not cottoned on that we are now a next to worthless cash shell.
I fail to understand how they have the nerve to keep loading up the site with their out and out junk comments.

[comet5d] 05/8/2016 10:11

Once the deal is approved by bass, then we shall see the share price rocket.I'm loading up with these beauties before the herd arrives.Patience is the key

[thegrumpster] 04/8/2016 21:39

From Lse ...Extract:
-----------------------------
LeValueInvestor
Price: 1.50
what is the Bass deal really worth
27 Jul '16


"........The face value of the deal is 15.5mln AUD which at current bass and fx levels is worth 5.4p/share.
However:
Out of 15.5mln AUD, 5mln is the 2.5% royalty cap. It looks like Bass will produce about 6,000 to 12,000 tonne per year. this will generate sales of $4mln to $8mln per year. 2.5% royalty on that is worth only 100k-200k USD to STGR per year. At current graphite prices, it will take decades to actually accumulate 5mln AUD worth of royalty.
So I find the 5mln royalty bit of the 15.5mln offer very misleading......"

-----------------------------


My mistake .....1-200k US Dollars per year, not pounds.

The "royalties" cover about a third of what illuminati is ramping that we will get.

[thegrumpster] 04/8/2016 21:25

illuminati:

BSM is "....currently suspended as they need to amend their prospectus ..."



How long have they had to work on it?

Doesn't sound very competent does it? A straightforward task.

Bodes well for the future "relationship"


"Stratmin sold the Lohorano mine for a total A$16m ~£9m (cash, shares, royalties) to Bass and will continue to be a major shareholder."


They have not sold it for that. That is what they are hoping that investors will believe they will get.....UP TO $16m.

And as has already been pointed out royalties will likely amount to £100K-£200K per year and will take decades to amount to the $5m cap.

Considering only the first lot of shares. would you really say that is a major shareholding in BSM?

The next lot is supposedly likely to arrive in 12-18 months, according to information from our BOD fed through posters on Lse (Jimbo?)

Given BSM management's ongoing lack of ability, seemingly to do even the most basic of tasks.....meeting agreements with us, preparing a prospectus, what realistically are the odds that we will get very much more than the first lot of shares from them....in any meaningful time frame?

Where is the money coming from to invest with Tirupati? Seeing that we will only end up with about £300k cash after we've gifted our debt free, working mine with customers to BSM.

We even have to cough up for "our" directors salaries who have bent over backwards to make sure ever BSM failure is rewarded, to the detriment of the STGR share price which they could easily have made a small attempt to bolster as things were supposedly coming together last summer.

Curious to know if the £300k, loose change that BSM is graciously leaving us with, and that we hope to soon have, even covers what "our" directors consider they have "earned" in the last year.

[wskill] 04/8/2016 18:21

He will have done vey well for himself I would say after he has given away the only asset of the company which has had £36m invested in it for next to nothing only the worthless promises of BASS .Cannot believe they have stolen the whole company and the FCA are doing nothing.

[illuminati1] 04/8/2016 17:11

Stratmin will remain listed via the Tirupati option. Now is the time buy if choose to do so.LSE...BOD have been meeting and holding 1-on-1 phone calls with larger shareholders since the announcements made. There is a firm plan to take the JV mine option and build using the funds from the Bass transaction. Stratmin will only have to foot half the costs and with the expertise of Tirupati I am confident Vatomaina will be in production within 18 months.(if Tirupati had been involved in this business from day 1 I don't doubt that the original mine would be in full production 12-18 months ago)There are some risks with a greenfield development but they won't be saddled with the badly-designed plant the BOD took over last summer (there was a BOD change 12 months ago if you didn't know, the new BOD have nothing to do with the previous 2 - they were drafted in as consultants to try and fix it then ended up taking the reins).The single biggest problem new BOD faced was access to capital to rebuild the plant at Lohorano. Plan is to use/leverage the Bass deal for our portion of the JV. I think the plan relies on meeting Tranche 2 criteria reasonably quickly, say 6 months or less, and I'm assured this is achievable.

[knowsleyman1] 04/8/2016 17:00

illuminati - The company is now a cash shell and has a very short time span to do something sensible. Oh, and raise at least £6M on route or suspension awaits us.
The confidence I have in Mr Boynton is absolutely nil. From the day of his appointment he has been just a waste of time and space. He, on present performance, just does no have the ability to do anything for the good of the shareholder at large.

[illuminati1] 04/8/2016 13:57

As of June (see website), 75% of shares are held by private investors so quite a large free float. The majority of us PI's were in favour of the Bass deal which was approved last friday. Stratmin sold the Lohorano mine for a total A$16m ~£9m (cash, shares, royalties) to Bass and will continue to be a major shareholder. Stratmin will remain listed via the Tirupati India option see RNS. We will get the Vatomaina project with a working 12k plant which could be producing in 12 months. It's closer to port, better grade and includes Tirupati India's invaluable graphite expertise. More than 30 years in the graphite business. They in return get access to international capital markets. Bass first suspension was a speeding ticket +150% within 2 Hours!, currently suspended as they need to amend their prospectus hence the delay. But their approval is just a formality.Hope this helps

[thegrumpster] 02/8/2016 17:57

BSM RNS - It needs to resolve issues.

Seems it still can't do anything right, or on time.


2 August 2016

"EXTENSION OF RIGHTS ISSUE CLOSING DATE
Bass Metals Ltd (“the Company”) (ASX:BSM) wishes to advise that it has extended the closing date for the Company’s non-renounceable rights issue (Rights Issue), made under a prospectus dated 12 July 2016, until Friday 12 August 2016.
The extension will allow the Company sufficient time to conclude its discussions with ASIC in relation to the Interim Stop Order (“the Order”) and resolve matters relating to the Order."

(edit)

From 12 July RNS Closing date 29 July so about two weeks delay.

"1 TIMETABLE TO THE OFFER
Results of Institutional Entitlement Offer announced and trading on ASX resumes
13 July 2016
Record date to determine Entitlement (Record Date)
13 July 2016
Despatch of Prospectus and Retail Entitlement Offer opens
18 July 2016
Close of Retail Entitlement Offer (Closing Date)
29 July 2016
Announce results of Retail Entitlement Offer
4 August 2016
Issue of New Shares and New Options under the Retail Entitlement Offer
8 August 2016
Quotation of New Shares and New Options under the Retail Entitlement Offer
9 August 2016"


Our 29 July RNS


The Company notes that the shareholder general meeting of Bass Metals Ltd ("Bass"), which has been convened by Bass to, inter alia, approve the issue of ordinary shares in Bass to Stratmin as part consideration for the sale of Graphmada Mauritius to Stratmin has been delayed to 25 August 2016.

----------------------------------------------

(edit) 19:20

General meeting was scheduled for 18th August 2016, so week's delay. (Prospectus)

22 August in later 20 July RNS.

[thegrumpster] 02/8/2016 07:43

Accent is one for Boris?

[thegrumpster] 02/8/2016 07:43

Saw the list.

Top most followed on a "niche social network".

Click on STGR in that list of five, to go to what?

Somebody trying to sound like someone who tips shares?.... hesitant delivery supposed to suggest someone who is marshalling his thoughts? ....but doesn't know what STGR is going to do with its squillions, ....when really he only has to glance at Google finance to see at the top of the news section to get
"StratMin Global Resources PLC to remain involved in Graphmada Mauritius, says...Proactive Investors UK - Apr 4, 2016"

38 views, one like for that effort. says it all.

Niche.



Unless it's hidden in Malcy's Blog?

[comet5d] 01/8/2016 22:09

In the last 24 hours #STGR has been 1 of the Top 5 most followed co's on the @VoxMarkets website. See the other 4 >

[thegrumpster] 01/8/2016 21:12

From 5.15m in for the STGR bit.

They don't seem to have read up on what STGR is saying/claiming it is doing next.
Most posters on here and Lse probably know that......staying with graphite, JV and all that.

BSM willing.

Otherwise could be another Ooops moment.

[thegrumpster] 01/8/2016 21:00

Vox twitter links to someone calling himself "Doc Holliday" who chats with someone else.

38 plays. 1 like......FWIW

[thegrumpster] 01/8/2016 20:27

STGR doesn't currently seem to appear on the voxmarkets.co.uk website in the top five, listed under the Trending Squawks or Trending Tweets or Trending RNS headings.

Could be interesting. Do you post there by any chance?


About (Vox):


"A niche social network, where members use their real identities to communicate with each other and comment on stocks and market related news. Membership is strictly monitored but once granted, allows access to our unique network of information, people and ideas."

[comet5d] 01/8/2016 17:57

In the last 24 hours #STGR has been 1 of the Top 5 most followed co's on the @VoxMarkets website. See the other 4 >

[thegrumpster] 30/7/2016 19:36

(link)

Several posters on hotcopper and Lse seem to think that Bass has driven a hard bargain with this "deal".

That might be credible if it wasn't for the shared directors. Only one of whom seems to have been declared in the BSM 2015 AR. (p9)

"Mr Jeffrey Marvin – Executive Director
Appointed – 12 June 2015
Member of the Audit Committee
Mr Marvin has over 20 years’ experience working with corporate management and investors to bring International minerals companies to public markets. Jeffrey specialises in early stage mineral company investment, corporate management and business restructuring. Jeffrey is currently involved in minerals projects in Africa, and Western Europe where he focuses on coal, manganese, copper,chrome and precious metals.

Other Current Directorships: Nil
Previous directorships (last 3 years): Nil


Mr David Premaj – Non-Executive Director
B.Comm; BSc
Appointed – 23 December 2014
Mr Premaj is a Principal of Singapore based Consolidated Minerals Pte Ltd, a privately owned company with a global portfolio of metals and mining investment projects including investments in coking coal and gold. David is a director of AIM listed Stramin Global Resources Plc, a London listed Graphite producer with operations in Madagascar.
David has previously worked for 5 years with a major Australian Merchant Bank and holds a Bachelor of Commerce and a Bachelor of Science degree.

Other Current Directorships: Nil
Previous directorships (last 3 years): Nil"




You can't really expect to drive a hard bargain with yourselves."

[thegrumpster] 30/7/2016 19:22

As suggested by illuminati it is probably worth keeping an eye on the Hotcopper board.
They are saying less than flattering things about the current BSM shambles.
Didn't Marvin finally cut loose and hoof it over there to supposedly "help" with their fund raising.


16 Feb RNS Extract:

"......Mr Marvin will step into an executive role with Bass to assist in completing the investment agreement between Bass and StratMin first announced on 2 September 2015 (the "Investment Agreement"). The terms of the Investment Agreement restrict common directors in acting in an executive capacity for either StratMin or Bass and Mr Marvin has therefore stepped off the StratMin Board to avoid any potential conflict in this transaction. "

Obviously knows what he's doing. Two suspensions is it now, and ASIC not very impressed?

Perhaps a bit late to worry about conflict of interest. Doesn't seem to have declared his interests in STGR when he joined BSM in 2015 (link)