Base Resources Share Discussion Threads

[joe say] 15/9/2024 08:58

Personally have chose to take the shares option - the forecasts I've seen suggest that the current share price is more or less a floor with material potential upside.

Have to say I've not researched in depth so do have a nervous feeling of where this could go especially given the one year EFR chart

[mondex] 10/9/2024 07:45

I received this from HL today:

We write regarding the offer by Energy Fuels Inc to buy Base Resources Ltd for 0.026 of an Energy Fuels Inc share and AUD0.065
cash per share by way of an unfranked special dividend. The offer was approved by shareholders at the recent shareholder meeting.
Cash alternative offer
Shareholders with less than 350,000 Base Resources shares can elect to receive cash in place of all of the Energy Fuels Inc shares
they are due in the offer.
If you elect for this, the Energy Fuels Inc shares you would be due will be sold by a third party agent and the proceeds paid to you. It is
expected that the agent will deduct charges of between CA$0.03-0.04 per Energy Fuels shares.
Elect for the cash alternative – Act by noon on Monday 16 September 2024
If you hold under 350,000 Base Resources shares, and wish to elect for the cash alternative, the easiest way to give an instruction is
on our website. We can’t accept instructions by post or the HL App.
1. Log in online at www.hl.co.uk
2. Select your Stocks & Shares ISA.
3. Click the dark-blue icon to the right of your shares and follow the steps.
Alternatively, you can call our Investment Helpdesk on 0117 900 9000 with your security information to hand.
Alternatively you can sell your shares on the stock market
You can sell your existing Base Resources shares until 4.30pm on Thursday 12 September 2024 subject to our standard dealing
charges. You can sell the shares online or by calling our Dealers on 0117 980 9800.
If you take no action, you will receive new Energy Fuels shares. These new Energy Fuels shares will be issued outside of
CREST (The UK’s settlement system). If you don’t elect for the cash alternative and still hold your shares on 17 September
2024 we’ll automatically transfer the shares to our global custodian, HSBC. This ensures that we’re still able to offer you a
facility to hold and sell the shares.
Holding the shares in HSBC
The shares will continue to show in your Hargreaves Lansdown portfolio, but as the underlying custodian will be HSBC, or a sub
custodian of HSBC, there will be certain implications you should be aware of:
You’ll be able to sell your shares on the Toronto Stock Exchange once they have been successfully transferred into our HSBC
Canadian Account.
We’ll contact you again once the shares are available to trade. It is likely that this process will take a number of weeks,
or potentially months, throughout which time you will not be able to sell your shares.
The shares will be held with our third-party custodian, HSBC, who may in turn hold the shares through a sub-custodian in the
home country of the investment. The settlement, legal or regulatory requirements that apply to the shares may differ from those
applicable in the UK. Your investment may not benefit from the same protections in the event of the insolvency of the third party
that may apply under UK law. A more detailed explanation of these additional risks is provided in section A25 of our terms &
conditions, which are available at
hl.co.uk/terms-and-conditions

[mondex] 11/8/2024 09:57

The Oakbloke substack has an interesting article on Energy Fuels (UUUU) which covers the uranium & rare earths markets:

hxxps://substack.com/@theoakbloke/p-147285771

For me it raises the question of should I take the money & run? Or should I stay invested in UUUU after the takeover?

UUUU share price way down at around $4.4 on Friday.

[plasybryn] 03/6/2024 15:07

Courtesy Shepdave on LSEYeah, I worked out a 20.27% increase in share price based on current Energy fuels share price of 6.08 USD and the current exchange rates.Think Energy fuels share price would need to slip to below 5 USD for no extra value from current price.7 USD would give 35% additional value.Guess it will gradually edge up over time over the next few months if no issues.

[plasybryn] 29/5/2024 12:43

Sorry posted this on the wrong board. Senior moment!'

[plasybryn] 23/5/2024 17:00

From: share price Angel Energy
Date: 23 May 2024 at 11:02:18 BST

Capricorn Energy (CNE LN) 192p, Market Cap £177m: Improvement in Egyptian receivables
Capricorn announced average YTD24 production is in line with the midpoint of 20-24kboe/d FY24 guidance, with an update on production performance to be provided later in the year.
The Company reported receivables in Egypt have reduced from $169m to $151m enabling an improved net cash position of ~$101m as at end-April, ahead of settling a $25m contingent payment for Egypt to Shell.
In Senegal, start-up of Woodside’s Sangomar development by the end of June could lead to a potential contingent payment of up to $50m in 1Q25 if crude oil prices remain above $60/bbl in 2H24.

A perfunctory update ahead of the AGM, which points to the positive impact of the improved fiscal landscape in Egypt that has seen $71m of receipts during 4M24.

The Company wants to see the initial results of its drilling activities before updating the market, with this year’s development activities expected to have a greater impact on 2025 production than 2024.

Capricorn believes its market capitalisation implies that the underlying net asset value in Egypt are heavily risked, but we think management still has to demonstrate greater value from this stand-alone small-cap Egyptian producer than was available from the merger options to create a more balanced larger player preferred by the former management.

[plasybryn] 23/5/2024 16:56

Nice 200643 buy @14.95p

[plasybryn] 23/5/2024 07:33

Base Resources shares will be cancelled from the ASX and AIM markets with the combined entity trading on the NYSE and TSX.

[plasybryn] 23/5/2024 07:31

No that isn't what i mean. Hargreaves Lansdown only accommodate trades on London listings, in this case AIM.

[mondex] 22/5/2024 10:30

Plasybryn,
When you say that HL will only let you trade on AIM do you mean you would not be able o put this in an ISA?

[mondex] 16/5/2024 16:17

Many thanks MJ. There is also the growth factor if/when the Toliara project goes ahead which seems probable given UUUU acquiring them

[mjneish] 16/5/2024 14:54

Time to revisit the earlier calculation.

CORRECTION (I forgot to change USD to GBP), so I've edited the calculation.

10,000 shares in BSE are currently worth £1287.50.

This will be exchanged for 260 shares in UUUU worth £1266.50 at the current share price and exchange rate.

In addition, the special dividend is now worth £342.55.

So in summary, there is around 25% upside from the current BSE share price to the value of the deal being offered.

Factor in the risk discount of your choice.

[plasybryn] 10/5/2024 11:09

Hargreaves Lansdown aren't going to let me trade other than on AIM so i am fed up i might be forced to sell. Perhaps we will get the dividend and Fiscal approval before we are de-listed. Pigs can fly.

[plasybryn] 10/5/2024 10:41

I've submitted a question, but Kevin Bulloch is away till later in May

[plasybryn] 10/5/2024 10:40

Late June / early July with the Scheme Booklet perhaps.

[plasybryn] 10/5/2024 10:38

What i want to know is will it be transferred to New York & Canadian index pre or post implementation date?

[mondex] 10/5/2024 07:49

Do we know when they will announce the special dividend amount?

[mondex] 10/5/2024 07:48

Thank you Plasybryn, most useful to have it diarised like that.

[plasybryn] 09/5/2024 17:06

Announcement of Transaction - Monday, 22 April 2024

Appointment of Independent Expert. - April 2024

First Court Hearing to approve the Scheme Booklet - Late June / Early July

Base Resources dispatches Scheme Booklet to Base Resources Shareholders Scheme Meeting — Late June / Early July

Second Court Hearing. - Early / Mid August

Effective date - Mid August


Record Date for Scheme and Special Dividend - Mid August

Special Dividend Payment Date - Late August

Implementation Date - Late August

[plasybryn] 09/5/2024 16:56

I guess this answers my own question above!

Scheme Booklet expected to be dispatched to Base Resources shareholders in late June / early July with the Scheme meeting in late July / early August and Transaction completion Q3 CY24

[plasybryn] 09/5/2024 16:55

While progress slowed towards the end of the quarter as the Government’s attention shifted to the upcoming legislative assembly elections on 29 May 2024, the Company expects good progress once these elections have concluded.

[plasybryn] 09/5/2024 16:52

Does anyone know what are the expected next milestones?
Deal expected to complete in Q3.
Will we get FID approval beforehand?

[mjneish] 29/4/2024 12:30

I hope this doesn't seem rude but could you explain what point you are trying to make?

[marktime1231] 29/4/2024 11:26

Of course titanium is critical for aircraft turbine manufacture, but that is a fraction of total demand for the metal. And metal titanium is less than 5% of the use of titanium ores from mineral sands. Which are globally abundant including in the most useful rutile form in several locations in North America.

So mineral sands are a critical resource only in the sense that everything with a purpose would be critical if you didn't have any.

[mondex] 27/4/2024 16:51

Not amusing but true. Titanium is produced from TiO2 in ilmenite or rutile (from mineral sands.) Titanium is a critical metal