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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| ENK | ENK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 19.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 19.25 |
| Top Posts |
|---|
Posted at 14/8/2012 06:51 by metex richscotsman....toucHave been wanting to post....quite a few things....along those lines....but holding back....less the opposition pick up any tips....lol. Just don`t believe this is completely over....as just as the Press initially....wondere The other person who maybe has a role to play in all this....is the ENK Chairman....as with his arrival....brought new contacts in the Philippines....to the boardroom table....this from his appointment RNS.....last year: Mr Rowe has had previous mining experience in the Philippines and previous nickel laterite experience. He will bring extensive project development experience to the Company as it makes the transition from developer to producer over the next few years. Without posting too much....but did you notice....that with the intention to stop DSO operations at Acoje....and the GHGC deal at ZCMC....ENK were effectively "shutting out" DCMI....from any of their nickel laterite assets. The offer from DCMI....for Acoje....is maybe their response....to this situation. If this train of thought is correct...the big question is....what now....is ENK`s response?....DYOR. (This from the Quarterly Report RNS....dated 26th July 2012: "Following the successful release of the BFS, the company intends to enter into a strategic partnership with an off-take partner to fund the project with minimal shareholder dilution." That potential off-take partner.... perhaps isn`t going to take this DCMI situation....lying down either IMHO). Togglebrush....thank "IMHO. The big boys are playing a wait and see game" Totally agree! |
Posted at 09/8/2012 15:31 by metex richscotsman....that was the point....was trying to make about Mr Walker`s status yesterday....believe he has had assess....to all ENK details....both technical and commercial....hence he probably knows the score regarding BFS.Presently awaiting ENK`s response....with the actual legal status of yesterday`s announcement....clea Quote from yesterday`s RNS: "This announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy any securities, pursuant to the Offer or otherwise". The document yesterday....was intended to intimidate ENK investors IMHO....and unnerve....and "shake out"....weak holders. So now awaiting ENK`s statement. This maybe over....but as have posted before....maybe not!....DYOR. Edit: vosene....their comments are part of the intimidation....as mentioned....and should be based only....on assumption and speculation....becau |
Posted at 09/8/2012 11:17 by metex Giant Steps...."ENK will probably....still be ENK"....so Berong completion....shouldStill nothing from ENK....remembering that no official offer has been made in writing to shareholders....from DMCI/D&A Income. Remember what ENK said in the RNS....dated 27th July 2012: "Further updates will be made as appropriate". For the moment....it`s a waiting game....because most of DCMI`s backers....purchased ENK shares....at a lower price level....than 19p....while quite a few others....bought at much higher levels....and could be talking to each other. ENK said on the 27th July 2012....that talks were at an early stage....well 12 days later....DCMI are out very quickly....looking to pick up more support....and that means "shares"....while having the ENK board "over a barrel". This from yesterday`s RNS: 4. Recommendation The Independent Directors (being Peter Rowe, Robert Gregory, Mark Hanlon, Paul Lush and Neil Herbert) believe that the Offer comes at a favourable time for the Joint Offerors when the shares are depressed by the current state of the equities market and ahead of the release of the bankable feasibility study on the tank leach project at Acoje in the Philippines. Despite these factors, the Independent Directors unanimously intend to recommend that, in the absence of a superior proposal, ENK Shareholders should accept the Offer. In arriving at the above recommendation, the Independent Directors are cognisant that the Joint Offerors either own or have received irrevocable undertakings to accept the Offer in respect of approximately 45.5 per cent. of the issued share capital of the Company and the strong likelihood that they would be successful in replacing the ENK Board and influencing the strategy of the Company should they wish to requisition a general meeting of the Company. The Independent Directors also do not believe that it would be in the best interests of ENK Shareholders to remain in a minority equity position in a company where there may not be liquidity or an opportunity to sell their shares. In these circumstances, the Independent Directors consider that, in the absence of a superior proposal, the Offer is in the best interests of ENK Shareholders as a whole. Guy Walker, a non-executive director of ENK, is a nominee of Montoya Investments and D&A and is not regarded as being independent in relation to the Offer. Accordingly, Mr Walker has not participated in any of the deliberations of the ENK Board in relation to the Offer. Hence patience is probably the name of the game now....as the next announcement from ENK....could probably be....the most important....either way....DYOR. |
Posted at 09/8/2012 09:34 by metex Caution has to prevail IMHO....as DMCI....have done everything in their statement....to ensure ENK management don`t work tactically....to stave off their offer.There is a clause in yesterday`s RNS....that states....that if the ENK management gave out a special one off dividend....during this time....that would be deducted from their share price offer....should they win this game. So there are still things to play for....at the moment....and a third party bid....allowing a special dividend for ENK investors....from the cash in hand at ENK`s bank....might....(an |
Posted at 07/8/2012 10:08 by metex All this shouldn`t be too difficult to understand....for ENK investors who don`t want ENK to be sold.Because if the normal 30% ownership rule....(hence an obliged official bid)....doesn`t apply....every ENK share sold now....could potentially be bought up....by the "predator" company....(or individuals).....who might be stealthfully attempting....to take a majority holding stake in ENK....at a relatively low price. Probably another reason why....up to now....since the potential bid announcement....the volumes have remained relatively low....while main players sit on their hands...waiting to see what transpires....DYOR. |
Posted at 30/7/2012 07:44 by metex Mattybuoy....this RNS outlines the situation regarding Montemina....(deal done)....and Chromite assets at Acoje:Zambales Diversified Metals Corporation ('ZDMC'), holder of the Acoje tenement and a subsidiary of ENK, for the exploration of chromite and other underground minerals on the Acoje tenement. GHGC involved in both: Similar share price action in Oz....on release of potential Acquirer statement there....plus....rel General link to ASX....for reference: Two big clues maybe....to the fact that this potential bid has materialised now....(and shouldn`t have come as a surprise)....and who might be interested in ENK: 1/ The speed and prioritising of management resource time....on cleaning the books up....regarding non-core assets....especially the Berong and TMC assets. and: 2/ The involvement of GHGC in the Chromite asset development at Acoje. But it`s the "big clue"....to the question....that all ENK investors want answering....i.e.... Well....just surmising....but why not go back to the 25th June 2012....and the RNS that day....The Grant of Options RNS....and the timing of it: 25 June 2012 - ENK plc ("ENK" or the "Company") (AIM, PLUS, ASX: ENK) announces that on 21 June 2012 the Board of the Company agreed, subject to shareholder approval, to issue 2,000,000 options to Managing Director Robert Gregory for no consideration, and 1,500,000 options to Finance Director Mark Hanlon for no consideration (the "Options"). The Options have been granted on the following major terms: -- Term of 5 years -- Exercise Price of 16 pence -- Vesting conditions: -- 1/3 exerciseable when the share price has traded at 24 pence or higher for 10 consecutive trading days, but in any event no earlier than 12 months from date of issue, -- 1/3 exerciseable when the share price has traded at 32 pence or higher for 10 consecutive trading days but in any event no earlier than 24 months from date of issue, and -- 1/3 exerciseable when the share price has traded at 48 pence or higher for 10 consecutive trading days but in any event no earlier than 36 months from date of issue. If shareholders approve the issue of options at the Annual General Meeting of the Company on 30 August 2012 the resultant beneficial ownership of Mr Gregory and Mr Hanlon is set out below: Name Number of Options Total number Current Shareholding Percentage Granted of options following in ENK of Issued grant Share Capital Rob Gregory 2,000,000 4,000,000 1,235,000 0.47 ------------------ -------------------- Mark Hanlon 1,500,000 3,000,000 776,800 0.30 ------------------ -------------------- As of the date of this announcement no options have vested. Again....total speculation....but could something around the 48p figure....(presently not granted....earlier than the third year)....probably be a figure....that would at least satisfy two Directors....the majority of main institutional investors....and perhaps quite a few ENK investors too! Note....if it is GHGC....then the returns from Acoje Chromite assets alone....would probably easily cover....both the purchase of ENK....and the construction of the Acoje processing plant. Might be an interesting few weeks now....in the run up to the AGM....on the 30th August 2012. As usual....time will out!....all IMHO and DYOR. |
Posted at 28/7/2012 13:06 by metex ian50....re: Golden Harvest Global Corporation....answeThere are many synergies....between the two companies. It`s all conjecture....but a deal for GHGC....would be perfect....and the timing....fits in with the thinking....of pre-empting any potential off-take agreements....to be signed by ENK....with parties not within GHGC`s sphere of operation. Also....the knowledge....that it would be a local Philippines company....that would be developing Acoje....wouldn`t necessarily have any impact....on the ECC amendment process. If they took out ENK....they wouldn`t necessarily then....have to potentially fork out....the $20m later....for the Chromite assets at Acoje either....as they already have the Acoje Chromite deal with ENK....so they would be effectively be paying....the $20m up front. With GHGC having picked up a hefty chunk of ZCMC....for a pittance from Montemina IMHO....why shouldn`t they add the rest of it....plus....a future nickel processing plant....with the tank leach process....and millions of dollars worth of Chromite ore....at Acoje. While through GHGC`s present nickel and chromite businesses....they already have good established off-take contacts....(who could possibly fund the Acoje build)....and GHGC could then....in the future....also process their own....other nickel laterite deposits....through the new Acoje Processing Facility. As Winston Churchill....is famously supposed to have said....as a final riposte: "Madam....we have already established what you are....we are now just haggling over the price!" (No gender offence intended). Maybe that`s where ENK are....at this moment in time....as such a deal....makes a lot of sense....from GHGC`s point of view....however....d So out with the "fag" packet!....and for the moment....putting any NAV and NPV calculations aside. 1/ The first $40m....(cash pile now....and receipts coming later)....of any bid....will be received by the acquirer....on conclusion of any deal. 2/ If it is GHGC....(or someone else)....then approx $20m....can be added for Acoje Chromite assets....which was the figure mooted in the recent Chromite deal. 3/ Acoje project plus ZCMC....with Caldag sold for $40m....but Acoje (a known better project than Caldag)....plus the other part of ZCMC....therefore approx price tag of $80m to be added. 4/ Technology for both Tank Leach....and Heap Leach....price tag difficult....but taking into account monies spent on developing technologies....pric So even using the back of a cigarette packet calculation....$40m + $20m + $80m + $30m = $170m....this equates to a share price of approximately 40p....which should be the minimum price IMHO....that ENK management should even start to consider. (*Note....there`s also a slim chance....that the real indentities....behin Have no knowledge of it....but are GHGC (or A.N.Other)....behind Montoya....or other investment vehicles....for instance?) But the biggest unanswered question....for this investor though....should an actual offer....be placed on the table....is whether ENK management really do have the determination and will....(irrespectiv Would prefer to see Acoje project developed under ENK`s wing....over the next few years....but even for long term suffering ENK investors....if a bid price does come in....that is perceived to be more than reasonable....believ |
Posted at 27/7/2012 15:44 by metex So as bones30 says....with the present equivalent in the bank....of cash per share of around 10p....an acquirer....on Mr Gregory`s own advice....had better think carefully....about making a serious offer.ENK has substantial nickel laterite assets....which will come at a price....but it also holds considerable non-tangible assets....the technological know-how....to processing....both tropical and non tropical laterites. The timing of the approach....is very interesting....as it precedes the completion of the BFS....and also the obtaining of the amended ECC....but the timing....if it is a serious approach....staves off any potential signed off-take partner deal....which in turn might have been tied to Acoje Project Funding....but more importantly....it "ring fences" the ENK Tank Leach and Heap Leach technologies....from other interested third parties....before they get involved at a practical level. It may just be a last ditch attempt....to pick up ENK on the cheap....before the last big hurdles are cleared....in a world economic climate....that might encourage many ENK investors to cash in their chips on the cheap....but the strong response issued today by Mr Gregory....leaves no doubt in the mind of the potential acquirer IMHO....that ENK maybe up for sale....but only at the right price....DYOR. |
Posted at 04/7/2012 13:40 by metex Sold to TMC....Berong final payment by 30th Dec 2012:4 July 2012 - ENK plc ("ENK" or the "Company") (AIM, PLUS, ASX: ENK) is pleased to advise that, in accordance with the terms of the Berong Nickel Corporation Shareholders Agreement ('SA'), Toledo Mining Corporation plc ('Toledo') has exercised its pre-emptive rights in respect of the sale of ENK's 18.7% interest in Berong Nickel Corporation ('BNC'). The other shareholder of BNC, Atlas Consolidated Mining Corporation did not exercise its pre-emptive rights in accordance with the SA. In accordance with the terms of the SA, the Company has received a non-refundable deposit from Toledo of US$655,200, being 10% of the purchase price of ENK's BNC interest. The balance of the US$6,552,000 purchase price, being US$5,896,800, is due by no later than 30 December 2012. |
Posted at 29/6/2012 14:22 by metex The monies from the sale of 60% of Montemina....particu06 June 2012 SALE OF INTEREST IN LOCAL PARTNER, ZAMBALES DSO AGREEMENT AND CHROMITE MINING AGREEMENT 6 June 2012 - ENK plc ("ENK" or the "Company") (AIM, PLUS, ASX: ENK) is pleased to announce that its local partner and 60% per cent owner of the Zambales Project, Montemina Resources Corporation ('MRC'), has entered into an agreement with Philippine company, Golden Harvest Global Corporation ('GHGC') wherein GHGC will acquire a 60% interest in MRC for total consideration of US$11,000,000. Payment terms for the sale are: -- $2 million upon signing, -- $2 million by no later than 15 August 2012, -- $2 million by no later than 15 November 2012, and -- $5 million linked to DSO revenues from the Zambales tenement (see below), but in any event, payable no later than the second anniversary of signing. The proceeds will be used by MRC to repay loans from members of the ENK group which will result in all of the funds (less taxes and costs) being available for use by ENK. All monies received by ENK....over the next few months....will in a sense....count double....as every extra dollar received....will keep any necessary "equity dilution"....require The $6,552,000 from Berong assets....in July 2012....along with the approx $2,000,000....(due or already received)....from the 1st payment of the Montemina 60% sale....the $698,000 in cash from the TMC share sale....the $300,000 in July 2012 from the Abogado sale....the $2,000,000 in August 2012 from the Montemina sale 2nd payment....and the $2,000,000 in November 2012 from the Montemina sale 3rd payment....will be very welcome contributors....to the "minimum/no equity dilution" cause....when Acoje project funding time....finally comes around....DYOR. |
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