Asa Resource Share Discussion Threads

[casabella2] 17/10/2017 17:30

Maybe, but probably not far off the truth.Seen it happen a few times.

[thecynical1] 17/10/2017 17:21

Casabella... That was pretty cynical!!!!

[casabella2] 17/10/2017 16:25

Longer it takes a bigger pay day for the administators.

[jacks13] 17/10/2017 11:37

I'm more struck by the fact that the Adminstrators keep approving an extension to the Offer period. What lies behind their thinking? This is the fifth extension. In this situation a company and their administrators would normally have called time or insisted on an improved offer. The Board and the administrators are perhaps not too keen for the world to take a look at the books. This needs to be negotiated to a price where the Board can recommend an Offer. Bit of a stand-off at the moment.

Plasybryn, it's the other way around, acceptances have fallen. By the way this Administrators' report you appear to be pleased with. Can you point me to the good bits, I must have missed them.

[plasybryn] 17/10/2017 10:54

Level of Acceptances gone up from 51.73% to 52.40%. Ha Ha.
Come on guys reverse your acceptances. You are allowed to do it.
Don't let this bunch of ......nick our Co.
I think no news from the Co. can only be good as matters progress following release of the very positive Administrator's report.
It's not difficult to see how quickly ASA could be returned to normal trading.
Look at the Administrator's valuations.
Look at the price of copper & nickel
Please tell Rich Pro where they can stick their ridiculous offer.

[thecynical1] 17/10/2017 10:48

When are these guys going to get the plot?

Are they dim? Just over half have accepted...... They have extended a number of times...... Why don't they just increase the offer to say.... 5p......and then they have the company...... Their Chinese friends get their money back and we can all walk away relatively happy?

[nomz] 17/10/2017 09:31

Let's see some results from BNC. They were withholding them even before the takeover bid, which can only mean they are rubbish. I think the Chinese know this with the timing of their bid. The cut backs in development, especially the shaft deepening mean that they will run out of high grade ore, if they haven't already. It would be nice to know.
We also need to know how much ning has fleeced from BNC. Herald reckons 2.7M and their source seems to hold up.

[casabella2] 17/10/2017 09:15

Still begging.Why keep extending the deadline.

[jacks13] 16/10/2017 15:49

No, you were right first time. Left in the hands of this Board, ASA is going belly-up!

[caedwalla] 16/10/2017 15:04

I am hoping it went up on the assumption that ASA was going belly-up and Bindura would be sold off and be more valuable on its own. That would imply that the current price drop reflects better prospects for an ASA recovery. 'Always look on the bright side' etc.

[hute17] 16/10/2017 14:17

Couterintuitive development at Bindura: when Nickel Price was weak, BNC share price went up to a maximum of 7,2 $ct per BNC share. Now that Nickel is strong again, BNC share price went down to 5,52$ct per BNC share, representing a value of 2,28p per ASA share. Any explanations for this development?

[timw3] 15/10/2017 15:05

O/T EME newsflow starts again very soon on their recent discovery and could be pumping gas in to the paying system by the 1st of November.

30p highs to be tested soon imo

[juju44] 15/10/2017 11:05

He always was a total slime ball

[nomz] 15/10/2017 11:00

What I want to know is how a highly experienced company secretary and legal counsel has somehow failed to pick up on irregular contracts and millions of dollars being siphoned out of the company? Seems he only changed his tune when the evidence was leaked to the Herald earlier in the year. Did he honestly not know this was going on?
His current actions are more about covering his own backside and attempting to rescue his reputation, which is in tatters.

[gfrae] 15/10/2017 10:35

If hute and parkhurst know Dearing then perhaps they have an answer to the very simple questions posed ?

[nomz] 13/10/2017 19:26

Mr MacGregor
As far as I know the entire exploration team walked out shortly after the Chinese took over.
I invested in Mwana primarily on the back of the DRC gold projects and the excellent exploration team that they had in place. Zani could easily be 5Moz plus by now if they had actually been given the chance to develop the project properly.

[hute17] 13/10/2017 13:01

Thanks Parhurst, very good post. You seem to know many more details but confirm my impression, that Dearing is one of the "good guys" trying to correct the previous misjudgement of Ning and Kwan.

[gfrae] 13/10/2017 11:07

parkhurst484, perhaps you could tell us whether was he paid by Ning and Kwan to put them in control of ASA ? Or was his appointment as Company Secretary in gratitude for his actions ?
Otherwise his actions are bizarre,because he put the company into the control of a large shareholder, thereby reducing the value of the company and causing the shares to fall to the obvious detriment of all shareholders (excluding those to whom he effectively gave control ) even including himself !
Whether or not he is acting on behalf of all shareholders now,it is the minority shareholders who he effectively put in control of the company, whose actions have required him to call in the liquidator.

[juju44] 13/10/2017 09:17

Nickel making a good recovery

[shrewdinvest] 12/10/2017 22:38

Will they appoint a new NOMAD in time, if not what happens to our shares?

[parkhurst484] 12/10/2017 22:13

I just noticed Dearing been mentioned several times. I even noted he was mentioned in context of Cattles. Just let me put an end to all the guesswork resp. put you in the picture who Dearing is.
CATTLES :
He allegedly revolted as a minority shareholder against the way the case was handled. I heard he did an excellent job for those shareholders, willing to follow him, in finding a way to convert their shareholder status into that of scheme creditor. This enabled shareholders who had decided to follow him to recover more than 50% of their losses, apparently outwitting a whole battery of company lawyers in the process. As member of the litigation committee against the external auditors he was also instrumental in squeezing probably one of the highest out of court settlements out of them in their history.
ASA :
Dearing came in towards the end of Mpinga’s reign. I won’t use this space to explain why Mpinga was not good for ordinary shareholders but Dearing assisted a group of disgruntled shareholders in requisitioning the EGM necessary for a vote on replacing the board. But as time went by it transpired that there was indeed a massive divergence of interests between Ning and normal shareholders and other stakeholders. The whole board became suspicious about serious wrongdoings of Ning and Kwan. Although full investigations were already going on in April this year ASA then denied any wrongdoing by Ning & Co. since lack of sufficient proof at that time. With his forensic research Dearing was instrumental in retrieving the evidence and I reckon if ever shareholders are going to see more than 2.1p it will for a great part also be thanks to his contribution. He is just an excellent shareholder rights lawyer, standing for justice, a quality sadly only to be found with few lawyers these days.

[wstirrup] 10/10/2017 16:14

It is possible, that the former FD blew the whistle on her exit (or pre/post-exit)

I can't think of anyone else who might be a "Former disgruntled employee"
not with inside knowledge anyway...

W.

[mr macgregor] 09/10/2017 10:33

Hi nomz, as you have local knowledge do you know what happened to the company's chief geologist Charl du Plessis? I recall he was keen on the DRC assets but frustrated at the lack of financial backing for exploration. It's years since I've seen his name mentioned.