Hambledon Mining Share Discussion Threads

[sloppyg] 07/11/2012 13:35

Captain - you don't have to sell 100% and can opt to keep some skin in the game.

The question for me is will those prepared to sell 100% of holdings offset those PIs and instis who are not selling at all.

Instincts are achieving 50.1% is not going to be easy. If, as alluded, this results in AR walking away then share price could adjust sharply downwards.

Is there some merit in derisking a few at these levels ?

[tymedici] 07/11/2012 13:34

maybe the prospectus is deliberately confusing to shake out the gullible?

[dofmeister] 07/11/2012 13:33

Captain, you will get 2p for 60% of YOUR holding or scale thereof should you wish to sell. You may be able to sell the entire if enough investors dont take the offer up.

[captain_crash_and_burn] 07/11/2012 12:46

Am I missing a tirck here, regarding this 60% 40% stuff, we sell all our shares to make the 60% (as not all holders will sell) so it is of no relevance to us whether the remaining 40% goes up in value or not. Sowhen Zorab says you get 60% now for 2p then the remaining 40% may go up who is he talking to. When we sell we have no stake left in the 40% right?

Or is the offer only for 60% of the shares each holder owns?

[chestnuts] 07/11/2012 11:16

Captain

This is an email i have from Zorab so they will have a fund raising in the near future.

They have access to funding which we don't. so to get those projects completed satisfactorily requires their money – but they want majority ownership and to keep the quote - they even speak in the offer doc of a main board listing. But they need some of your shares to create a higher value for the balance.

you could get 2p for 60% now and then down the line , say, the 40% went up, your blended price is again much higher. The alternative is not so attractive, in my opinion.

[jlyttle] 07/11/2012 11:13

right folks, where do we all stand?

Me: I am undecided but am steering to selling my holding as i have been burned badly over the years and have grown tired of hmb...

[captain_crash_and_burn] 07/11/2012 10:59

Chestnuts

Following your talk with the rep, what are your plans regarding the offer?

[chestnuts] 07/11/2012 09:41

Captain

For what i can make out TD stopped Seki underground as it was burning the cash, and the board decided it would be better to save the cash for Akmola, as it would take only around $2.5m to get the mine operating, so they needed at leats $5m for Akmola and keep some cash for a rainy day, Seki needs more cash,

Their is one thing yesterday AR rep did say that the Underground some of it could have been converted into an open pit, now i dont know if this is true as i would have thought it would have been to deep.

[captain_crash_and_burn] 07/11/2012 09:19

How have Hmb still got $7 million, if that is the case then one may have to question why this offer has been recommended by the board! I was under the impression we were running on fumes!

[chestnuts] 07/11/2012 08:49

Phillis

AR are after 60% they could take up part of the placing or even increase their stake,

[phillis] 07/11/2012 08:40

you surely don't think they are going to acquire 50.1% only to have a placement that reduces that %?

[chestnuts] 07/11/2012 08:37

Kefta

When you read below it doesnt tell you any thing which we didnt know it also doesnt tell us how they are going to finance Seki, a placing is definatly on the cards.

In recommending the offer, Hambledon has considered various factors ranging from
the possibility of leveraging the gold expertise and stewardship of members of African
Resources, to the significant fines and expenditures relating to the Tailings Dam 3 leak.
The fines and expenditures have put significant pressure on Hambledon's financial
resources, limiting its ability to upgrade and refurbish its processing plant and maintain
and grow gold production at Sekisovskoye. The increasing bureaucracy surrounding
project-permitting processes in Kazakhstan has caused Hambledon to suspend
development of its underground mining phase. African Resources also believes that
Hambledon's Sekisovskoye mine and the acquisition of Akmola Gold (which still
requires government approval) present attractive growth opportunities. Importantly,
African Resources is committed to Hambledon remaining an independent, publiclytraded company for the foreseeable future.

[kefta] 06/11/2012 22:54

Edison view

[dofmeister] 06/11/2012 22:36

You will see he used to work for Cleary Gottleib Steen

[dofmeister] 06/11/2012 22:30

Chestnuts - was it Ashar Qureshi you spoke to, Hanson seem to be fronting this up ?

[chestnuts] 06/11/2012 20:45

Sloppy

He sounded very slick, i wish he had been working for hmb right at the start.

[sloppyg] 06/11/2012 20:31

So they have 7m cash still left and not facing bankruptcy yet the recommendation from the board is to accept a fairly derisory offer.....

Opening the books up for due diligence prior to the offer will have told them exactly how this company is being run and if funding is not required in the near term then how are we at this point.

All time share price lows the day of the offer. Feathering of nests here.

[giant steps] 06/11/2012 19:11

"i asked also if the company was run so badly why keep on TD, his reply was he was a good mine manger. "


Priceless !

Chestnuts, you have provided so many quotes that
'allo 'allo will be calling - many thanks.

[chestnuts] 06/11/2012 18:27

Spoke to the buyers rep today, hmmm he says they have no intention of raising finance at the moment or the near future, so asked how will you run the mines, he said they will do a a deep evaluation on how the company is run, and then make descions, he certainly came across as a very enthusiastic person, but they are not offering any new finance or magic wand at the moment, just desparate to buy your shares, i asked also if the company was run so badly why keep on TD, his reply was he was a good mine manger. They say they wont raise finance, HMB have about $7m in cash at the moment. So not going to go bankrupt, and by the sound of things he his expecting the deal to go through.

[grbaker] 06/11/2012 13:29

Does anybody know what the final date for acceptance is, it's not in the RNS as far as I can see...

Edit:

Just found it on the Hambledon web site...

"
The Partial Offer is open for acceptance until the First Closing Date, being 1.00 p.m. (London time)
on 23 November 2012 (unless extended to a later time and/or date). You may accept the Partial
Offer in respect of some or all of your holding of Hambledon Shares.
"

[kerrie3] 06/11/2012 13:02

well the mms are certainly hanging on to theirs.
if they accumulate 100 mill shares between the offer announcement and acceptance they'll pick up a cool £350,000 profit and i reckon they've picked up well over 30 mill already.

[almost] 06/11/2012 12:48

Not a lot of digmity left here, I'm afraid.
So I do hope AR get their 60%, or we will all get nothing.
Also,I hold out no prospect whatsoever that there will be an alternative bid....no-one in their right minds will take on the locals with all their "connections".
My view is hang on to what you can and there is just an outside chance that the Assaubayevs may drag us along to make some money.
Should be a fun ride.

[captain_crash_and_burn] 06/11/2012 09:19

Well its been a long and hard road and I'm sorry things ended this way chaps, but thanks for everyones input and at least I escape with a shred of dignity.

[giant steps] 06/11/2012 08:34

1nf3rno, that's an interesting thought.

Seems the consensus is the offer is derisory, but folk think they can trust
the partner to carry the 40% brigade to pastures new where they can fleeced
and milked in different ways. (no advice intended)

[hoveactually] 06/11/2012 07:51

Jeez why on earth would people want to short this share at the current price.
for starters there has never been a fully recommended offer that has not gone thru
so for those that say yes they can expect at least 2p for their shares.
do you realise how wealthy the Assaubayevs are, if they don't initially succeed in getting the 60% they are aiming for they are far more likely to increase the 2p offer price than to walk away from the deal.
by the way you can no longer trade CFDs in this share since the offer was made.