Brinkley Mining Share Discussion Threads

[chrismez] 12/2/2010 00:04

What concerns me glue is that PG is playing this very cannily. When he said he can't see much happening in the immediate future what he may have meant is that he is banking on the share price drifting lower over the next few days and weeks and when it gets down to say 0.75p - in comes Eurogold to buy the remaining shares in BRM at say 1p. Eurogold scoop up the remaining shares at a knock down price because they paid slightly over the odds for Atamoers shares.

Am I completely off track here cos like wdurham I cant understand why Eurogold is not compelled to make an offer for the remaining shares now that they own more than 29%?

[wdurham] 11/2/2010 19:39

Read the Takeover Code, gluefactory.

I'd like to know how Eurogold wriggle out of their obligation to make a cash offer to other shareholders?

[gluefactory] 11/2/2010 19:09

Well if Atomaer had dumped their holding onto the market,Eurogold would have been wiping them up at a more attractive price than the 1.45p they paid.

The share price is not of any importance to PG.We all know that the tradeable assets - Dragon and cash in the bank equates to 2p,so anything less than that is a discount to true value,not accounting for any of the assets on the books at nil value.

Likewise Eurogold have under 41% of the shares which is by no means a controlling stake,and a holder or collective holders with 10% can call an EGM if they do not like whats going on with their money

[linney3] 11/2/2010 17:59

Why sell at this time unless the cash is required to repair damage done elsewhere? With 41% of the company Eurogold will do something in the not too distant future - he said not in the immediate future in his email,but the way these guys move I would expect something in brfore the end of March and then that million seller might find he has left a five figure sum behind

[tamboerskloof] 11/2/2010 16:55

Patience ran out for a few Sellers to-day.

[linney3] 09/2/2010 17:38

Mid range price was 1.1,so your buy price at 1.05 would be seen as a sell.Good buying price imo considering most here would have paid a whole lot more for their holding

[johnstonp] 09/2/2010 14:32

just bought a small 40000 qty to keep you company.
have been reading all your comments and felt the urge to join you.
paid 1.05p through hsbc ib but it is showing as a sell
why is this ?

[linney3] 05/2/2010 09:29

Aka Gluefactory. I emailed Peter Gunzburg yesterday with the following:

Dear Mr Gunzburg,I refer to Brinkley Mining where I have been a shareholder for the past twenty months.

I have been extremely excited by your involvement over the past months particularly as the old management were ineffective and appeared to be running down the Company.

I also note that in days Eurogold have taken over the Atoemar holding of 39.5million shares and have taken their holding to over 40%.

Might I enquire if Eurogold will be making an announcement in the coming days regarding their intentions going forward

Peter responded as follows this morning:

For the immediate future I do not see any change in the status quo.

If you would like more information on Dragon go to dragon-mining.com.au.

In the website there is a report by Greenleader which I think is a very good summary of the companies prospects.

Regards

Peter Gunzburg

[old portmuthian] 03/2/2010 10:54

This is an old chestnut that comes up time and time again (well it did at the death of the dot com era when the world was awash with vast losses). Whereas theoretically there is a value in the tax break the tax laws are such that there is almost no chance of there being any practical value.

[linney3] 03/2/2010 10:48

Corporation tax rate of 28 -30% would give the new owner a £7million break in the event of profits up to £24million,so it certaintly has a value to a purchaser

[hotsherbert] 02/2/2010 22:32

Any accountants out there?

Here's a thought,

with the accounts showing a "retaining loss" of nearly £24m, can this figure be applied to future profits?



if so, what value could be placed on it!

Good luck all.

[chrismez] 02/2/2010 18:47

Also - they can have all of mine for 5p per share - no probs with that. Looking forward to hearing from Gunzy.

[chrismez] 02/2/2010 17:25

mdchand - re your question as to what Eurogold might want with BRM - well apart from some land which as of today has a minimal value (certainly no u308 worth talking about) BRM has a London listing. Eurogold used to but dropped out some time ago now. Maybe they're thinking of reversing the whole of Eurogold into BRM and in effect taking over the listing here in London/Europe since most of their gold investments seem to be in companies like Dragon who have interests here in Europe.

Dont know - just thinking aloud!

[johnstonp] 02/2/2010 16:21

small buy at 1.3p

[old portmuthian] 02/2/2010 14:32

Even Holden's holdings of BRM weren't exactly clear. The main part were bought by a third party over which Holden had power of attorney - I couldn't understand why the RNS claimed they were his shares. As ever with BRM nothing makes any sense.

[linney3] 02/2/2010 13:45

Dont think Eurogold have any assets - they are a cash shell similar to BRM. You may remember when Euro made their initial purchase,there was a surge in the share price to 2.25 - 2.75 spread,and there were takers at those levels albeit PIs buying.Since then the spread has dropped to a low of 1 - 1.25.

Guess tomorrow we will be more informed regarding a potential takeover by Eurogold.

The Gibralter Asset Management holding is interesting as it has been in situ for over a year and I wonder if Gerard Holden might be involved there.From memory he has a holding in his own name of 4million shares and paid multiples of current price for the privledge

[johnstonp] 02/2/2010 12:55

can't see any trades at all today
most unusual !

[mdchand] 02/2/2010 12:39

So the next question is what Euro intend to do with BRM? Has anyone run the numbers re Euro reversing some assets into it because I can't see what else they could do to it?

[linney3] 02/2/2010 11:43

Eurogolds initial 102,500,000 purchase was at 1.9 and the last batch were at 1.45.I can only assume they will attempt to take out the company at around the 1.5p mark unless there is another offer forthcoming.

The Dragon investment is really only washing its face at the moment so there is no extra value there,and calculations show that the current share worth is around the 1.9p level when Dragon and available cash are combined.

The 1.9p price does not take into account any assets which BRM have as zero value on thier books though

[mdchand] 02/2/2010 11:20

Indeed - the question is - at what price...or do takeover rules apply differently to aim listed companies?

[linney3] 02/2/2010 10:54

There we have it.Eurogold were the purchaser and now have over 40% of the ISC so we can expect a takeover attempt now as they are obliged to make an offer

[linney3] 02/2/2010 10:45

And another possibility.Gibralter Asset Management have a 13.5 million share interest.Perhaps they have purchased the 39.5million from Atomaer and are bringing themselves into play.

[gluefactory] 01/2/2010 18:43

Well Eurogold are the only lively investor,so perhaps we will get an rns stating they have indeed acquired the 39.5million,and will trigger a takeover at a lousy 1.5p - similar to what they paid for the extra shares

[johnstonp] 01/2/2010 17:05

just been on their website and wanted to subscribe for the newletters.
filled in my e-mail address but pinged back on me "account suspended"
suspicious !