Asa Resource Share Discussion Threads

[plasybryn] 08/2/2018 17:22

Not over till the fat lady sings!

[timgw] 08/2/2018 17:16

Looks like a win for RPI. Can't be much mileage left in this now.
hxxp://www.mining-journal.com/m-amp-a/news/1311583/pan-african-asa-asset-talks

[jayboy4] 08/2/2018 11:44

Looks like PAF have pulled out. Not sure where that leaves us now.

[iamald] 30/1/2018 10:29

Well, they did pay a dividend; but 1 year was a BUY at 16/17p now a (weak) outperform, 13/14P. And depends on the ratios given. More hopeful than last week, but less than 2/3 months ago....

[thecynical1] 30/1/2018 09:18

forget that last post. ; )

PAF shares in lieu of ASA shares wouldn´t be such a bad deal imo. Will be interesting to see where that story goes.

[thecynical1] 30/1/2018 09:16

Has anybody got a link to the story about PanAfrican being interested?

[caedwalla] 29/1/2018 18:39

Re 3423, 3431 etc

This is the link to LSE notice:

Always best to go to the source rather than rely on some half-baked journalist

[timgw] 29/1/2018 18:24

As usual we could do with a comment from the Administrator. Worst case scenario assets sold to satisfy creditors and nothing for shareholders. Could be that 2.1p was a bargain. RPI could , of course, buy the assets.....

[asmodeus] 29/1/2018 17:08

Not my words - but from 3423

"Separately, the London Stock Exchange said Monday the shares of ASA have been cancelled with immediate effect." Not delisted - cancelled. No difference?

[plasybryn] 29/1/2018 16:58

Not defunct. Just delisted off AIM.Assets being sold. Shareholders will be compensated.

[casabella2] 29/1/2018 16:42

29/1/2018
14:00
ALNC
Pan African In Talks To Buy Assets Of Defunct ASA Resource (ALLISS)

I'm at a loss here "Defunct ASA".Delisted from LSE but surely workers are still going about there jobs are they not,and we are still producing gold are we not.How are we Defunct.

[caedwalla] 29/1/2018 16:27

The most bizarre aspect of the situation is that the company is probably generating quite a lot of cash at current gold and nickel prices. It seems to be the restrictions on moving the cash around that is keeping the company in administration.

[casabella2] 29/1/2018 16:18

As I see it at the moment there is a long way to go here.There are a lot of major share holders here including RPI and I cannot see them or any of the others letting it go as it is.

[timgw] 29/1/2018 15:54

I would doubt very much that the company's shares would fulfil the criteria for re-listing. There would also be time and cost involved too. The further issue will be whether the Takeover Panel still have any authority in connection with an unlisted company.

[caedwalla] 29/1/2018 15:24

The shares are not 'cancelled' - they are delisted on AIM, which is immaterial because they are not being traded anyway while they are in administration. When they come out of administration they should re-list the shares but we shall have to wait and see.

[asmodeus] 29/1/2018 15:03

For those of you who still hold, what are the implications of the shares being "cancelled" ?

[timgw] 29/1/2018 14:09

LONDON (Alliance News) - Pan African Resources PLC on Monday said it is in exclusive talks with the joint administrators of ASA Resource Group PLC to acquire certain of the assets and liabilities of ASA, which if successfully may have a material effect on Pan African's share price.

Discussions are ongoing and as such there can be no certainty the acquisition will conclude, the company added. Pan African shares were trading 0.6% higher at 13.14 pence in afternoon trade.

Separately, the London Stock Exchange said Monday the shares of ASA have been cancelled with immediate effect.

Back in December, ASA said its joint administrators remained in talks with two parties interested in acquiring its subsidiary Asa Headco Ltd, which owns all of the company's material assets. The African mineral explorer in August 2017 appointed administrators to investigate the company's prior business and banking activities and the relationship between ASA and other companies.

By Tapan Panchal; [e-mail]

Copyright 2018 Alliance News Limited. All Rights Reserved.

[wstirrup] 28/1/2018 00:00

The trouble is the regulator appears to have abandoned the poor small shareholder in the battle for assets...

Those with the most whether they got it legally or not, appear to live by different rules/laws...

I cynically said as much 25 years ago to my students, but didn't really expect to have it be so blatant in the near future.

W.

[timgw] 25/1/2018 14:21

I too am feeling cynical. The update dated 14th December is perhaps worth another read as little has been said since:

hxxps://asaresourcegroup.com/media-centre/regulatory-news/update-headco-bids

[thecynical1] 25/1/2018 06:29

Wstirrup..... I wouldn't be too sure that the administrators actually care...... They will imo get handsomely paid one way or the other.

It is now nearly the end of January. It really is time for a decision one way or the other. Jmo.

[wstirrup] 24/1/2018 22:04

This rise in PM prices may bode well, for all miners, and if the administrators can do their job properly, then maybe a better deal may be in the offing...

W.

[timgw] 21/1/2018 10:36

What happens to the shares "stolen" by the Chinese? They just bank a big profit?