Amerisur Resources Share Discussion Threads

[foiledagain] 19/10/2017 22:01

beauf
Not so sure you have the facts right on a number of counts.

Whether a shareholder resides in the UK or not the rules of disposing are the same.
There may be no necessity for him to have notified at all if the original transaction has not been settled, so if that was for disposal of all, it would explain why he has not notified. Not as a breach of rules, but within the rules.

Amerisur received notification because Amerisur were told that Rex was disposing of shares and they contacted the registrar who confirmed it.

The Harbour Foundation is run by his son in the UK, Rex has not been involved since December 2016, but the Foundation has not owned Amerisur shares for some time.

Rex resides in Monaco

Rex took a very large stake in Pantheon Resources, so the idea of this very rich 82 year old being a distressed seller doesn't seem correct.

[napoleon 14th] 19/10/2017 21:48

Thanks, beauf. V. interesting & should lift doubts regarding AMER.

[bigwavedave] 19/10/2017 21:37

Motley Fool latest:


...but will I live that long?

[beauf] 19/10/2017 19:49

From lse chat

Michinoko and GC connections are opaque but they are involved in other venture(s) together as previously posted - Rex Harbour's place in this on the other hand is even more hazy to say the least - but that doesn't mean links don't exist. After bakoven's post yesterday I decided to do a little digging: Rex is allegedly of British/South African citizenship with his investment company based in the UK. Clearly he is very rich and I reckon possibly aligned with other wealthy entities that value privacy. First thing to mention is that reading the latest holding RNS, Rex didn't disclose his sales - "Amerisur has received notification from its registrar, Capita Asset Services" possibly as a result of asking them to check all major shareholders. We can criticise Rex (and have)for not informing the market but actually there is nothing compelling foreign shareholders to inform and the rules appear pathetically enforced in any case. I found the South African thing very interesting as GC an Michinoko are connected via mining ventures in SA. A search of Rex reveals he (or his family) also have interests in South African mining which would explain why he is selling down his Amerisur holding rather than any loss of faith. Apparently he (his company) is the main creditor of a gold tailing treatment company called Mintails, it was quite a big outfit (1000+ employees) that hit the skids a while ago and called in a Business Rescue specialist Rex's company "Paige" is the main creditor and I suppose stands to lose a heck of a chunk of money if the business isn't rescued, so they have agreed to finance it and even introduced another financier. The articles I have read express surprise that Paige are doing it (looks like a dead duck/ money pit to me). But it explains why Rex is selling Amer - he is sort of a distressed seller and must raise the promised cash - only yesterday it was reported "Mintails completes restructuring of its operations" so Rex seems to have provided the promised Money for phase 1, most likely needs to stump up more for phase 2, if Mintails sell assets apparently he will claw back some of his committed cash The good thing for me wrt Mintails is it explains the selling and suggests there is nothing nasty associated with Amerisur that is causing him to dispose of shares (always a worry that they are in the know) - we could also assume that he may keep an interest when enough capital is raised to save Mintails. So IMO he isn't the villain here simply exercising his right, even very rich people don't have millions sitting around in bank accounts and need to sell assets occasionally. hxxps://www.businesslive.co.za/bd/companies/mining/2017-10-18-mintails-completes-restructuring-of-its-operations/

[chopper harris1] 19/10/2017 19:25

Subtle?!?!

[john henry] 19/10/2017 18:59

I like your subtle deramping Boris. Has an agenda Filtered.

[boris cobaka] 19/10/2017 17:54

Well market not entirely impressed with the ops update. Think the potential for production interruption is the main worry.
Harbour offloading is in the short term perhaps the biggest concern and very likely the primary factor in preventing any major gains. Any great news production-wise will ultimately get sold into imo.
Ordinarily i'd be a little surprised there wasn't any major volume day close to or at the bottom - however in hindsight now that we know there was a hnwi still looking to dump the remainder of his stock the read across is that unfortunately we may not be at that point just yet. It's also worth noting that on the subsequent rally sessions the share price made some very decent gains but the volume was a mite disappointing and not close to the level you'd expect at the early stages of a new bull market.

A lot can happen in a few weeks so i'd actually prefer to see a bit of a 'wash-out' and some very big volume days - if momentum has topped out I could see this now finally roll over and maybe even break below that august low but a test of 16p or thereabouts would probably be enough.

Get it over with quickly rather than drag this mega-dump into 2018.
All imo etc

[lucyp00p] 19/10/2017 16:19

If anyone fancies a punt, Sportech (SPO) put itself up for sale today.

[lucyp00p] 19/10/2017 16:17

News is ok. Not great but better than bad

[bryet] 19/10/2017 15:45

Not everyone thinks great news otherwise the share price would be on the up.(sorry it is slightly).

[eggbaconandbubble] 19/10/2017 14:07

A new roof before the hurricane!

I'm loosening a few bolts off and hope to have a new one on the insurance. Or is that classed as an 'Act of God'?

[lucyp00p] 19/10/2017 13:41

Dear everybodyI need to flog a handful of these to pay for the roof I just replaced. I'll wait a few days before doing so but feel free to load up and bolster the share price in the meantime.

[boris cobaka] 19/10/2017 13:13

Bloody Malcy.
Bit of Jonah when it comes to AIM oil stocks... Just ask gkper's

[napoleon 14th] 19/10/2017 12:49

Malcy's last para: "All this means that most importantly the 7/- b/d target for year end production is still on track and with such a substantial drilling programme rolling out over the next 14 months there is still significant upside on offer."

[bakoven] 19/10/2017 12:48

Note - JTHDots has compiled a very good piece of research on the LSE bb.
Makes sense.

[3roach] 19/10/2017 12:21

As long as it aint a sandbar.

[foiledagain] 19/10/2017 11:55

Steering out of the doldrums now and not so much rowlocks posted

I have been a stern critic of the BoD but it might turn into a starboard if they propeller Amerisur forwards then we will all have a beam ing grin and off to the bar with money in the bank.

[bryet] 19/10/2017 11:54

Unless it sinks.

[blackdown2] 19/10/2017 11:27

6/12 months.

[eddie_yates] 19/10/2017 11:22

Can't be much longer until our ship comes in!!

[sleveen] 19/10/2017 11:01

sailing close to the wind with that one!

[boris cobaka] 19/10/2017 10:43

I know someone who's 'harbouring' a few doubts.... ;)