||EPS - Basic
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Real-Time news about Vane Minerals (London Stock Exchange): 0 recent articles
|martin c-j: Reading further into this cr*p. Looks like 3legs are off loading their German licenses to a new vehicle, VML or Rose Tinted Resources as they are now known. It is wildcatting at best. As long as the share price goes up......|
|combo83: Rubbing my eyes in disbelief!
Let' see, the two best qualities of this company: 1) self-funded exploration -- never delivered consistently, and 2) geologists previous success at Freeport McMoran and the database they brought with them -- again they didn't deliver.
There is no obvious continuity between Vane and this new company. A new team with petroleum exploration expertise, new offices, new management, new company name, a huge number of new shares, and a new sub-penny share price.
Last time I checked petroleum exploration is more expensive than mineral exploration. Difficult to believe that after 10 years of mineral exploration with such a highly qualified team, they will only now find success by switching to petroleum exploration.
Perhaps this is now more about Matt's personal quest to recoup his significant investment in the company?
RIP Vane Minerals.|
|martin c-j: Loverat - I just saw your post from a couple of days ago. I don't have any evidence of who it was who sold, but it is patently clear to me that someone got wind of the subscription prior to the RNS. The massive increase in volume and large 1 million lot sell orders was not a coincidence.
I would even go on to say that it may be the same person who sold previously when there was a placing in September 2011. The same thing happened then with lots of selling and volume just prior to the RNS.
If the Financial Conduct Authority are any good they will be able to trace who made the large trades prior to the news, and then see if they took part in the placing and subscription. The small cap market is littered with dodgy trades and share price manipulation. It is not an even playing field and it always ends up with shareholders getting shafted.
I notice Matt has moved the registered office to St John Street. At least it's not the bus shelter outside, and they plan on staying in business for another year until the lease is up for renewal. I am still incredibly disappointed as to how pear shaped things have gone with this company, and I would love to know when management knew about this and whether they ever planned on telling shareholders.|
|yesyesno: It's not the BUYS or SELLS that move a share price.
It's the transaction price and the likely event of further transactions at that price or above or low.
If you have a spread of 50-60 you can have millions of transactions are 56 and the price might still go down if a market maker has millions more to offload.|
|martin c-j: Gazza - they obviously don't have as much money as they would like. What they haven't done is come out and tell us exactly how much money they do have, and how they plan on spending it. The implication was that they would preserve cash for a while, and restart operations when they had reached a certain level. Well the share price reflects that concern, which is why we are back at lows, and not breaking out to new highs. The good set of interims now seem irrelevant as a result of the news flow since September.
VML made this announcement in November......
"VANE is confident that production grades and revenue for Q4 will increase and be consistent with results achieved prior to the Q3 rainy season"
.....so I am hoping that when they give us the Q4 update in the next few weeks, their statement is corroborated and revenues will be decent. If they are not, I can't see the share price holding up too well, and if they are good, well let's hope it underpins the share price and we will have finally turned the corner.|
|cerrito: Martin C-J, I am abit unclear as to the relevance of today's RNS for VML.
To me Geiger have not sold anything; obviously given the current share price weakness the value to Geiger of their holding of the convertible notes has decreased; in theory I suppose that as long as the share price is below 1.25p VML cannot excersize their right to prepay the loan but that for me is very theoretical.|
|combo83: Nick, like any other stock I recognize this company has its risks and potential rewards. Having carefully considered the risk/reward here I've determined that as far as junior exploration companies go, VML is currently in a strong position and is a very attractive investment at the current share price.
Laying aside for a moment the Cu exploration activities and uranium breccia pipe deposit (soon to be two deposits), we can consider a valuation for VML based solely on its gold revenues. Over the last two quarters VML has consistently delivered $11m annualized revenues, against a market cap less than half that. In other words, if VML were to temporarily pause its exploration expenditure, it would accumulate sufficient cash to purchase its entire share capital within approx. 6 months. Needless to say that's clearly a sign of undervaluation.
Again, discounting its uranium breccia pipe deposit at Wate and upcoming deposit at Rose (each typically carrying an in-situ valuation of $70m in the ground), the Cu exploration upside is genuinely enormous and not at all factored into the share price. The political stability of the region, the company's ties with a major (Freeport) and its geographical proximity to two of Freeport's existing mines (Chino and Tyrone) really ticks all the boxes for Vane to become a takeover candidate if it should go on to discover a significant deposit in that region.
The most recent estimate of the odds of making such a discovery were suggested to be 1/3 at McGhee Peak based on earlier promising rotary drilling results. I don't know of any other publicly listed company with comparable revenues, assets, and potential trading at such a low market cap.
The masses have not arrived yet, we're very much off the radar, but the stage is set and I'm happy to let the story play out. With about 10% of the company in the hands of directors, they are going to be as keen as we are to make this a success. They have continued to buy as the share price has fallen, with Matt Idiens stepping in even last week with another purchase. The signs are all encouraging but patience is needed. all imho, dyodd|
|viktormeerldrew: It was about this time last year that VML share price started to crash if i remember correctly as the market anticipated another cash call. 2p to 1p AFAIR ?|
|thinking: Well thats the uncertainty of the 'Loan notes' over upward we go!
RNS Number : 8980D
Vane Minerals PLC
23 May 2012
VANE Minerals plc (AIM:VML)
("VANE" or the "Company")
Convertible Loan Notes
VANE is pleased to announce that the Company has reached an agreement with the holders of its convertible loan notes.
VANE currently has two convertible loan notes outstanding, the first for GBP1m, issued to Geiger Counter Limited in May 2007 which was due to be repaid at end of May 2012; and the second loan, amounting to GBP500,000, was issued to City Natural Resources High Yield Trust plc in September 2007 and was due to be repaid at end of September 2012. Both funds are managed by New City Investment Managers.
The principal points of the agreement are:
-- VANE will repay GBP500,000 on 31 May 2012 out of existing cash resources to settle the loan with City Natural Resources High Yield Trust plc
-- VANE will carry forward a loan note of GBP1 million, issued to Geiger Counter Limited (the "new loan note")
-- The maturity date for the new loan note is 31 May 2017
-- The new loan note will continue to attract interest at 8% per annum, payable every six months
-- The new loan note is convertible by the holder, at any time, into 80 million ordinary shares in VANE at a price of 1.25p (a 34 per cent premium to the current mid-market price of 0.935p per ordinary share as at the close of business on 22 May 2012)
-- The Company may repay the loan note early in the event that i) the share price is equal or greater than 2.5p or ii) after three years, the share price is equal or greater than 1.25p. The amount which the Company would have to pay in these circumstances is calculated by multiplying the prevailing share price by the number of shares into which the loan note is convertible at 1.25p per Ordinary Share
-- VANE has undertaken to seek shareholder approval to dis-apply the relevant pre-emption rights at a general meeting, thus enabling conversion of the new loan note
David Newton, Chief Executive of VANE, commented:
"I am delighted to have reached this agreement with the loan note holders. The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the Company to continue to devote its current cash resources to the development of its highly promising copper and Uranium exploration assets."
For further information, please contact:
VANE Minerals Plc +44 (0) 20 7667 6322
CEO VANE Minerals plc
Allenby Capital (Nominated Adviser &
Jeremy Porter/Alex Price +44 (0) 203328 5656
Northland Capital Markets (Joint Broker)
Louis Castro +44 (0) 20 7796 8821
Bankside Consultants +44 (0) 20 7367 8888|
Some sensible thoughts.
I get the feeling that there are more trader types now than ever, wanting to flip a quick profit without wanting to stick with a stock that has good prospects.
I was looking at VML again and to think VML was bouncing around the 10p level in 2004-2006 before uranium fever took hold and propelled VML up to 30p. After the 2008 downturn the VML share price just has not recovered even though things are looking far better operationally than they did in 2004-2006.
I am sorely tempted to make a top up again as I did around Jan 2009 time.
Having gold and silver in your portfolio is a good move in these times. Nice that VML has a useful little silver/gold mine :-)
Vane Minerals share price data is direct from the London Stock Exchange