Hambledon Mining Share Discussion Threads

[giant steps] 05/11/2012 07:32

As usual the best reasoning appears to be from elban and 1nf3rno

(perhaps if Daffern had found a JV partner
to come in for 40% at 8p we could rejoice)

"It's a no win situation" and a dreadful outcome.

[sloppyg] 04/11/2012 22:40

The offer document enjoys referring to the 66% premium to the 1.2p share price. Only 2 days before the offer and before a certain sell rec it was a less impressive 33% premium.....

The first week in August we were almost at 2p and since then bad news after bad news. Due diligence takes some time to pull together so who knows what their initial thoughts were as to fair value. All time share price lows have proved very convenient.

[rhotoid] 04/11/2012 22:39

loppylugs

Blackwill are not accepting because African Resources and Blackwill are in effect one and the same as they are acting in concert (item10-para2). They're be buying off themselves!

Blackwill could literally be the same people and they used it becasue AR was not setup yet, or could be a close business partner etc. who acts on their instructions, or a mixture of both.

[loppylugs] 04/11/2012 22:05

Hi Chip,

Many thanks for your post, erudite as usual.

Like some others, I am heavily over/invested here. Had taken a medium to long-term view. Selling at this level would result in considerable loss. So very interested in the views of other pi's with substantial holding.

Cannot quite understand why Blackwill (who purchased NB's 88m shares and are in concert with AR) is reportedly NOT accepting the Offer - rns - item10-para3.

Regards

[1nf3rn0] 04/11/2012 22:04

Rhotoid, not if EBRD and AR issue shares to themselves at whatever price. It'll only be the other investors - the unimportant ones - who are diluted. The aim is to get rid of us pesky PIs, which should be pretty easy for them now.

[rhotoid] 04/11/2012 21:34

But 1nf3rn0 if they own 60% why would they want dilution ? They would be diluting themselves surely?

[j4yjaybee] 04/11/2012 21:02

Spot on 1nf3rn0

[1nf3rn0] 04/11/2012 20:52

There's not really a choice is there.

If you as an individual don't accept the 2p, it's only a matter of time before you are subject to dilution as AR raise more funds to meet capex requirements. Leaving you facing possibly a 0.5p share price with however many billion more shares in issue.

If as a collective we all reject 2p and hence the offer doesn't get required percentage approval, well then the Kazakh authorities will just let the tailings dam legal issues drag on that bit longer, the share price will be allowed to slip back even further, and 12 months from now we get an offer of maybe 1p instead.

Or we walk away with 2p.

It's a no win situation, but 2p for 60% seems the best offer we will receive (unless a second bidder comes in, however, I'd say that is highly unlikely given AR presumably being favoured by the Kazakh regime).

[elban] 04/11/2012 20:32

dofmeister,

I say accept.

If the Maffia offer you 50% value for your shop - just be glad that they are not asking you to pay them to take it off you.

[chestnuts] 04/11/2012 20:16

Chip

I dont blame the directors for every thing, at all, but just read the news going back to late June, and as DOF puts it the directors are recommending it, its like it the only option, now if this deal doesnt go through i hope they all resign, because according to them their is no other option, . If i was a director i would not recommend it i would let the sharehoders decide for them selves.

Just a point why didnt they release the news that AR were buying Bridgen shares they should of because they knew who it was at the time, you could say they have colluded with them. And this point shows that TD twisted the rules.

[dofmeister] 04/11/2012 20:09

Elban, so we are f##cked both ways, because if we sell out 60 % we still get TD in charge !

I'm not sure if you are suggesting we accept the offer or otherwise anyway ?

[dofmeister] 04/11/2012 19:55

Chip, the problem I have is they are recommending it. Is it therefore in our best interests to accept ?

Edit : and they have no shares in the company but are keeping their jobs and large pay packets.

[chipperfrd] 04/11/2012 19:48

chestnuts,

You seem to want to blame the directors for everything!

It is the shareholders who own the company - not the directors.

An offer is made at a premium of 66% to the prevailing share price so it is the fiduciary duty of the directors to act in the best interests of shareholders by announcing it.

The share price was certainly at a derisory level - and AR have taken advantage of it. So it is now up to individual holders to make their own decisions.

No twisting of rules, an offer is on the table, it has been put to the shareholders. Best to use this board for sensible debate whilst there is time to decide rather than heaping yet more mud on a set of directors who have had little influence on events ever since the TD3 leak.

Let's try and look forward - not backwards.

[chestnuts] 04/11/2012 19:14

Phillis

you have called me quite a few things of late and even when i accused td of twisting the rules, now you must admit they are twisting the rules on this deal, or you could say they are ignoring them completly, Now do you think any other board of director would act the same way. TD simply twists the rules for his own agenda.

[hectorp] 04/11/2012 18:12

Chip, appreciate your point that many have not managed to average to the lowest levels / are underwater, well done topping up at the very low levels. you also have a good grasp of the overall picture here. I as said have been out for some time.
Though I disagree with you about CEY in terms of that company's territorial risks. Thank heavens for Medusa.
H.

[elban] 04/11/2012 18:09

Don't do what these guys want - the Kazakhstan Govt will withdraw the licence to mine:



Does anyone think that it is coincidental that it became difficult for HMB to meet requirements in the underground mine and got hit by large fines in the courts???

You are not dealing with little red ridinghood here.

[phillis] 04/11/2012 18:07

try being a minority to these guys

i think not!

[yangou] 04/11/2012 18:02

I do not hold these anylonger but keep watching.You could well be correct Chessy as these seem to be cheap as chips now for anyone who can see the whole picture as it eventually progresses

[chestnuts] 04/11/2012 17:49

Tymedic

I personaly think their is another bidder in the background,

[tymedici] 04/11/2012 17:43

Yes, your right. I suppose we are all trying to second guess the possible intentions of others plus what assumptions AR made when making their offer. fwi I wonder if its quite as cut and dry as AR might like to think. Time will tell and the share price

[chestnuts] 04/11/2012 17:20

TyMedic

You never encouraged, its what people do they think the worst and the best, then decide what they should do with the risk involved.

[tymedici] 04/11/2012 17:09

if I have encouraged any of this I apologise now.