Base Resources Share Discussion Threads

[mondex] 22/4/2024 12:37

Many thanks Plasybryn for the updates.
This takeover results in Base becoming a growth stock rather than an income one. Any thoughts on the tax exposure as UUUU is an NYSE stock?

[plasybryn] 22/4/2024 11:38

Great presentation by Tim. Very confident and strategically switched on. Seems like a very good move. Well done for keeping something this big under wraps.

[mjneish] 22/4/2024 10:50

I'm actually hoping that it goes down now to give us all yet another bite at the cherry.

[plasybryn] 22/4/2024 10:29

I suspect there will be a number of what one might term loose investors who will jump ship at the earliest opportunity. They will move on soon enough. New Institutional investors will want to mull on the details and listen to todays Webcast etc. I suspect the share price will continue to creep north (fair value is circa 16p plus) as we get closer to sign off. It wont be hard for some who have already shown a lot of patience to hold tight for a further re-rating. In the meantime perhaps we will also get news on Fiscal Terms.

[brownmruk] 22/4/2024 10:07

Yes, quite a discount. Interesting to see how the EFR share price reacts on opening.

[meanreverter] 22/4/2024 09:59

Based on the NYSE American closing price for UUUU at $5.84 and current exchange rates for USD and AUD to GBP, I make the value of 0.026 UUUU shares plus A$0.065 to be 15.66p. This compares with the present LSE quote of 9.93p for Base Resources.

[plasybryn] 22/4/2024 09:41

The Transaction Consideration implies an offer price of A$0.302 per share3 and a total equity value for Base Resources of A$375 million4, and represents a premium of:188% to Base Resources' last closing price of A$0.105 per share on 19 April 2024.173% to Base Resources' 20-day volume weighted average price (VWAP) to 19 April 2024 of A$0.111 per share.Following implementation of the Transaction, Base Resources shareholders will hold approximately 16.4% of the combined group, which will have a pro forma market capitalisation of approximately US$1,144 million5.

[plasybryn] 22/4/2024 09:39

As outlined above, the Scheme is subject to several conditions, including approval of Base Resources shareholders at a Scheme Meeting, which is expected to be held in late July / early August 2024.If the Transaction is approved by Base Resources shareholders and the other conditions precedent are satisfied or waived, the Scheme is expected to be implemented in the third quarter of 2024.

[plasybryn] 22/4/2024 09:37

Managing Director of Base Resources, Tim Carstens, said:"This Transaction, which is the culmination of 12 months of discussions between Base Resources and Energy Fuels, reflects the exceptional quality of the Toliara Project and the efforts of the Base Resources team over the past several years to advance the project towards construction readiness. The combined group will have the financial and technical capability to not only build Toliara into one of the best critical mineral projects in the world, but also to develop an integrated value chain for the rare earth elements that are essential to the global energy transition. Shareholders of Base Resources will receive both a compelling and immediate premium, and the opportunity to further participate in the market recognition and development of a company with a unique diversified position in the critical minerals landscape."

[mondex] 22/4/2024 09:02

"Base Resources shareholders to receive 0.0260 Energy Fuels common shares plus an unfranked special dividend of A$0.065 for each Base Resources share held, equating to total consideration of approximately A$0.302 per share."

This is equivalent to 16 p per share or am I missing something?

[plasybryn] 22/4/2024 08:55

Webcast at 11 am todayhttps://registrations.events/direct/OCP5249348

[farrugia] 22/4/2024 08:21

i actually had added - anyone selling here seems to be selling early

[mjneish] 22/4/2024 07:56

I held on as well. :) Was starting to have my doubts though.

[plasybryn] 22/4/2024 07:40

I think i must have been the last man standing here. Glad i held on.

[plasybryn] 22/4/2024 07:21

"Represents a premium to Base Resources' last closing price of 188%, and a premium to the 20-day VWAP of Base Resources shares of 173%"

[plasybryn] 22/4/2024 06:40

Takeover!What an announcement! Anyone expecting this. Takeover by UUUU$0.065 AUD Special Dividend.0.026 UUUU shares per BSE share.So that's roughly 58 Base Resources Shares for 1 UUUU share.That's around 10 cents (USD) for each BSE share, in UUUU shares.

[plasybryn] 17/4/2024 18:05

Looking great value at these prices. But not for the timid.

[plasybryn] 19/3/2024 18:05

Up 15% in Australia.

[janekane] 19/3/2024 07:23

Day traders should make money today

[plasybryn] 26/2/2024 16:24

They will need to finance the new mine so i guess everything gets thrown into the melting pot. I believe there is lots of interest to finance this one way or another, as it will be a World Class mine. Very sketchy details so far but i don't think they see it as a problem given the iRR and projected payback over 38 years plus.

[mondex] 26/2/2024 15:08

They had approx.$93mm in June 23. Any ideas on the cash burn since then?

[mondex] 26/2/2024 13:55

Small world Plasybryn, Tony Surridge recruited him.
I see the market is unimpressed by the 1/2 yr announcement!

[mjneish] 26/2/2024 10:04

Unless I have totally misunderstood the situation, they will have a gap between the end of operations at Kwale and the start of commercial operations at Toliara during which they will have no income. The longer it takes to close their negotiations with the Madagascan government, the longer this gap will obviously be. Do they have enough cash to see them through this period?