Bullabulling Share Discussion Threads

[temujiin] 16/6/2014 09:32

It's great they've said 'best and final'. We have an end date for this farcical offer. Also it's clear at 16% they didn't get any more traction these last two weeks, although there may be a % or two last minute acceptances.

[carl79] 16/6/2014 09:27

Final offer...whatever. They already told us 7c was all the shares are worth. Shake down, thats all this was / is. Some are easily shook and some are in a position to take advantage with minimal downside - those with very low averages. MY guess is 90% of the acceptances are from people that are taking a profit - imo, it is not very likely that people will crystallise a loss in these conditions. Too many potential positives to take such a negative view...but as I say, just mu humble opinion...

So, we wait for the next chapter. So far Norton are playing a fairly obvious game...question...what will they do with the shares if they dont gain a controlling stake? Do they want to be a large holder or will they liquidate their positions and use the cash elsewhere?? It will be telling if they remain invested - it will suggest they are confident that even under BGL leadership, this asset will deliver...

[retailronnie] 16/6/2014 09:19

So they've only upped their offer from 7c to 8c if they get 30%. Don't think that will get them a higher acceptance rate.

[serious punter] 16/6/2014 09:05

According to Norton it's their final offer - shame :0)

[andrbea] 16/6/2014 08:41

SP up 6%. Maybe people think the derisory first offer will fail (hopelessly) and a second higher bid will be necessary.

[rich pickings] 16/6/2014 08:28

8cents if acceptances over 30% by 30th June, otherwise still 7c up until 16th July. 8cents currently = 4.42p or 10% on today's opening offer price.
Currently they have approx 16% acceptances.

I would say not much point in doing anything (certainly at the moment)
Don't have to until nearer 30th June (if interested in 8c). In meantime gives time to see how much more interest Norton get, and what the BOD come up with.

[temujiin] 16/6/2014 08:20

Extension to the day before BGL can issue shares. Upped offer to 8c IF they get 30%+.

Too little. Too late.

[264091] 16/6/2014 01:38

I'll not sell out before DFS completion, there will be better offers certainly.

[temujiin] 13/6/2014 19:17

Ditto that Smarty!

Well Monday marks the end of the 1st extension. I'm 99% confident Zijn/Norton will extend the poxy p!ss poor offer after hours in Oz. It'll be interesting to see if Zijn aquired more than 1% or 2% in the last 2 weeks. Am half expectiong they will increase the offer to a poxy p!ss poor 8c.

Just 2 weeks to drill assay results, 5 weeks and our BOD can raise funds for DFS. Tick tock Zijn, you've got the easy cheap shares, but time is running out :)

[xclusive2] 13/6/2014 18:27

LF,

Not wishing to be rude BUT you can stick the 10c.

Smarty

[londonfinancial] 13/6/2014 14:12

They key remains the 12 % that may or may not be ready for them when they up the offer .

10 cents could swing it for them imho .

Just to add an important point made by Tem is that Norton will be aware that BGL can issue shares on the 17th of July so they will have to act fast .

interesting Monday .

[johnma] 13/6/2014 06:36

There is not enough appetite from shareholders at this price. They can either up their offer to get more shares or remain a strategic investor.

[retailronnie] 13/6/2014 06:31

Update on takeover:


Bullabulling Gold Limited ("Bullabulling" or "the Company") notes that, in the absence
of a further extension, Norton Gold Fields Limited's ("Norton") takeover offer for all of
the shares in the Company ("the Offer") is now scheduled to close at 5.00pm AWST /
10.00am BST on Monday 16 June 2014.
The directors note that Norton has not made a "last and final statement" as to whether
it intends to extend the Offer beyond this date, and as such Norton can further extend
the Offer period at any time prior to the current scheduled close.
On 4 June 2014, Norton announced that it had voting power of 15.9% in Bullabulling –
this includes the 2.5% previously held by its associated entity Gold Mountains (H.K.)
International Mining Company Limited. Based on its announcements, it appears that
Norton has also bought approximately 2.2% of Bullabulling's shares on market. On this
basis, Norton has only received acceptances from non-associated holders in respect
of approximately 11.2% of Bullabulling's shares since the Offer opened 6 weeks ago.
The Board of Bullabulling continues to consider that the Offer is INADEQUATE and
OPPORTUNISTIC and unanimously recommends that all Bullabulling shareholders
REJECT the Offer by TAKING NO ACTION.

[carl79] 12/6/2014 15:57

Go Gold...1300 next stop please

[temujiin] 12/6/2014 15:36

Can't buy 100k according to H-L but can sell at 3.63p. Can buy 50k at 4p. Yesterday I could buy 375k sub 4p.

[grum3still] 12/6/2014 15:15

Thanks Rich pickings. All a bit relaxed in oz I suspect!

[richie32] 12/6/2014 15:13

Not sure if the Ukrainian news was out when pog went up. I suspect it is more to do with poor jobs data from the U.S. along with higher input prices (inflation?)

[sweepie2] 12/6/2014 15:10

No wonder POG is heading higher

Ukraine: Tanks 'cross from Russia 'Breaking news
Ukrainian interior minister says three tanks have crossed border from Russia, amid reports of fresh fighting

[rich pickings] 12/6/2014 11:19

Grum3still
If the order to buy is not complete, does the accumulator have to declare in Australia...
------------------------------------------------
I did a search & found:
(substantial shareholder)Forms must be lodged within 2 business days after they become aware of the transaction or change in % holding and by 9:30am next stock exchange trading day in a takeover situation.

(it's is the responsibility of the shareholder to inform the Company & the stock exchange).

[richie32] 12/6/2014 11:13

Cost reduction confirmation good news. Gold is looking perky too.

[londonfinancial] 12/6/2014 10:06

Rich pickings

Maybe they have 3 friends holding 4 % each .

[rich pickings] 12/6/2014 10:04

in PFS
cyanide cost $2.76/kg, lime cost $0.30/kg, cyanide consumption 0.91kg/t, lime consumption 5.21kg/t and annual throughput 7.5mt

Estimated expenditure on lime and cyanide in the PFS exceeded $30 million per annum1, or $170 per ounce2 Based on forecast average gold production of 175,000 ounces per annum.

RNS 12/03/2014
Average consumption of lime during leach tests carried out in filtered water was 64% lower than in raw bore water, with cyanide consumption 26% lower - SAVES $71 per oz

RNS 12/06/2014 _ Confirms earlier results:
Average consumption of lime was 87% lower than in raw bore water, with cyanide consumption 16% lower (using pH at normal 9.5 level)
SAVES $75 per oz over PFS.

[grum3still] 12/6/2014 08:18

Rich pickings. If the order to buy is not complete, does the accumulator have to declare in Australia.