Asa Resource Share Discussion Threads

[juju44] 27/7/2017 08:59

nickel well over 10k now and climbing. At this level Bindura would be highly profitable . It would take 500mill + to replace it and these Chino bandits want the whole show for under 50 mill . How can these things happen

[thecynical1] 27/7/2017 08:36

It was a formality..... I suspect that they are/were legally obliged to disclose certain positions.

[postiga08] 26/7/2017 20:36

I never know with rns's like the one most recently if it's a buying of shares or selling of shares :(

[casabella2] 26/7/2017 17:34

Yes ,of course.Can't believe anybody would actually be selling at this price.The offerfor the company was 2.1p/share.Why sell?.

[exbroker] 26/7/2017 16:51

casabella2 why should it move, if buyers and sellers are in rough equilibrium and the acquirer is not in the market bidding for stock than it might even fall.

[casabella2] 26/7/2017 11:55

Another daft question.Why is the share price not moving in any direction.?

[skidaddle] 26/7/2017 11:52

geng

I think if they withdraw the offer, then they have to wait 6 month? before they can make a new offer.

Holding fast to my shares too!

[plasybryn] 26/7/2017 11:50

Look at the number of shares Niall Henry holds? Nearly 30m and I'm pretty he will also be holding these at a price well above 2.1p.
At the moment it all seems to be about people taking positions before the real bun fight for these vastly undervalued assets takes off.
If those who are implicated can also see a way out of prosecution, they will be fighting even harder.
Interesting times. I'm holding fast to my shares.

[timgw] 26/7/2017 11:44

FWIW Oscar Lewisohn has had a holding in this company for quite some time and I reckon his average is over the bid price. I can't see him and his chums taking this lying down. He is probably more than a little annoyed at what is going on as he is one of the most genuine men one could ever meet in the City.

[geng] 26/7/2017 11:40

So here's a possible scenario -

In conjunction with the board, withdraw the offer and cause the price to fall.

Panic selling will enable them to get the remaining shares they need and then re-instate the offer, perhaps at an even higher price?

I really don't trust any of these crooks, that whole bad news / good news thing was clearly engineered.

[casabella2] 26/7/2017 11:00

Hi ,anybody care to explain to me what this latest rns is about.

[plasybryn] 26/7/2017 10:37

Come on ASA...lets be hearing from you.

[skidaddle] 26/7/2017 08:54

Definately a Mr Hyde!

Nings voting shares should be cancelled even if he pays back the money and the current board should be forthright in their condemnation of Nings manouverings in the defence document.

[thecynical1] 26/7/2017 08:12

Ning has a "hyde"..... Wow.......

[trevorm2] 26/7/2017 01:17

This takeover will save Nings hyde. The board are in his pocket. Well done bent chinamen. A good wee trading share over the past few years. Thanks, missed the last rise.

[juju44] 25/7/2017 19:58

They seem to be getting plenty of sellers . Board needs to quickly do a thorough job of trashing this offer

[the stigologist] 25/7/2017 19:03

This looks like an attempt to take this Company out on the cheap having destabilised investors with the earlier Chinese chicanery.

There would be more value in the current Management splitting the company up and liquidating it.

We were often told each of the main divisions could be a 'Company maker'

e.g. the 80k p.a. gold production operation with c.2m resource should on a rule of thumb basis be valued at c.$200m (producing mines tend to be valued at $100+/oz)

the 3m gold exploration in Zani Kodo could easily be worth $30m+ based on just a low $10/oz valuation but get it nearer development and you'd look at $100m and in production $300m

the nickel-smelter/refinery has probably had c.$100m of investment sunk into it over the last few years, building such an operation now as a greenfield would have a replacement cost value of c.$500m

[casabella2] 25/7/2017 18:46

Don't give you're shares away.

[postiga08] 25/7/2017 18:29

So there's an RNS now basically telling me how I can accept the offer? Why aren't they saying to hold tight or whatever? It's not filling me with much confidence i feel inclined to take my 2.1p?

[casabella2] 25/7/2017 17:57

They need to respond like i will and put it in the bin.

[skidaddle] 25/7/2017 17:46

As I understand it, the company now have 14 days to respond to the offer.

[exbroker] 25/7/2017 14:37

The company will respond when the offer document has been published which can be up to 28 days after the offer was announced. They will want to see what’s in it before responding. They may also be talking behind the scenes to agree a deal at a higher price.

[nomz] 25/7/2017 12:15

I'd also like some clarity on the license status at Zani as well the JV with the government. Goalposts can shift very quickly in that part of the world.
Don't think it's worth as much as people are saying either, they don't have a single oz in RESERVES, just an early stage inferred resource. And of course location. Mongbwalu just down the road, which has full feasibility completed, twice as much gold and infrastructure in place has been on the market for about 7 years without any takers.
Having said that I suspect a fire sale could well happen.

[nomz] 25/7/2017 12:04

BNC barely broke even last set of results. Where's the next quarterly results? I suspect these will be worse. The silence is deafening. We also need an update on the shaft deepening. Ning delayed this which was moronic so access to high grade ore might already have run out. Until there is access to high grade BNC cannot make money. So we need a timeframe on the shaft,and of course how much it will cost as they don't have any money. There will also likely be a period of downtime while it all gets tied in. Throw in the fact that the smelter can only fly with high grades and a much higher nickel price and I'm afraid it doesn't look too rosy at all for BNC. We also haven't heard what Ning was up to at a BNC and what "irregularities" went on there.
It would be nice to know the status of the bond and what other debt there is.
Valuations are a murky world, but at the end of the day a project is worth what somebody is willing to pay, and no company in their right mind would go near BNC as it stands

[casabella2] 25/7/2017 11:55

I think its about time ASA said their piece about things that are happening to the company.The silence from them is deafening.