Hambledon Mining Share Discussion Threads

[volvo] 02/11/2012 08:38

Exactly jamie, thats why they only paid 1.8p for the directors shares.

Would imagine Akomola will progress in fast time after completion.

Imo the remaining shareholders will get stuffed in longer term.

[giant steps] 02/11/2012 08:36

jamielein, the burning question - is the other bit worth 1.2p ?

Plenty of investment required by the new vehicle, so will be dilutive

(guess they will need to raise £20m+ for starters)

[kerrie3] 02/11/2012 08:35

well now you know who got Bridgen's shares so any offer had to be at least 1.8p per share. i suspect that its only for 60% of the shares because i would assume that the EBRD will be holding on to their shares who are obviously a party to the whole deal that has been cooked up.

[lesteague] 02/11/2012 08:35

As a green stick invcestor if you don't take the 2p offering I assume your shares get carried over... ?

[jamielein] 02/11/2012 08:30

It isn't a 2p bid, it's 2p for 60% of the company.

That means if the other 40% is worth the 1.2p the share price was before, then overall they should now be worth 0.4*1.2 + 0.6*2 = 1.68p

That's probably why they opened at 1.7-1.75.

[aaaaar] 02/11/2012 08:28

Maybe the trade is to add now by 120%, (hope the transaction goes through!) take 2p on 60% of your holding so you are then back to your original holding at a lower average price than the current price (profits included 1.75-2) and assume the palms have now been greased for progression.

[giant steps] 02/11/2012 08:21

Our leaders sold us to the "Assaubayev family"

- i'm sure they will have more success at resolving "permissive" issues

[chestnuts] 02/11/2012 08:11

Well i was out by a couple of days, its a big result for HMB, but you also have to wonder why they had such bad luck,

[noirua] 02/11/2012 08:01

Well done Hambledon!
TW will have to apologise once again.

[aaaaar] 02/11/2012 08:01

Its not done, if you hold at 1.1 then why hold and take the risk.

[dinky00] 02/11/2012 07:59

can't understand why the price is 1.7-1.75 on the open.......why would anyone sell at 1.7p when there's a 2p bid????

[dofmeister] 02/11/2012 07:58

Assaubayev family are huge investors in Kazakhstan. The share price could well go higher after the offer closes.

[giant steps] 02/11/2012 07:54

Certainly Tim Daffern will be long remembered for Angel and Hambledon Mining

[aaaaar] 02/11/2012 07:48

Wonder what TW has to say about this and those that jumped after his sell recommendation the other day.

[aaaaar] 02/11/2012 07:47

Think we are past 'Fair' to be honest.

[old tyke] 02/11/2012 07:45

But does anyone have any views on whether 2p is a fair offer? Esp since it will lock out anyone making a higher bid for the rest of the co.

[aaaaar] 02/11/2012 07:45

So if you wish to remain 100% invested you take the 2p for 60% and re-buy in the open market?
Suggest for a period this will be over 2p should this complete.

[andrbea] 02/11/2012 07:37

so do we sell our shares to the acquirer for cash?

or do they take over the London listing, which would allow us to stay invested?

[volvo] 02/11/2012 07:31

Well done anyone brave enough to buy at the current levels.

Shows once again that the director clear out at 1.8p was bought by the buyer.

Directors first as normal.

Is 2p about right............YES.......imo they are running on fumes right now.

Least a few trapped can see closure here.

[giant steps] 02/11/2012 07:30

Yes

But see note in the offer - they need substantial investment

"
In order to maintain tonnage throughput, metallurgical recovery and gold production levels, the Hambledon Directors believe that significant expenditure will be required to effect further upgrades in the process plant as the ore in the open pit mine becomes harder with depth. In particular, Hambledon's current capital expenditure plans include replacing one of the cone-crushers to achieve a finer crush and to make further changes to the milling circuit.
"