Hambledon Mining Share Discussion Threads

[jlyttle] 08/11/2012 13:46

ChipperFred... are you in or out regarding selling your holding?

[rhotoid] 08/11/2012 02:43

He mentioned Mauritania because TD is a failure and a gorm whose desperate to sound impressive.

Even I know the Mauritania/Western Sahara area is a complete mush.
He doesn't even understand Kazakh, property rights in Mauritania:that'll be a laugh - when no-one can even agree the border and they're in the middle of the desert with nomads (the real type!) wafting through.
No courts , authority and extortion from some geurillas and their ak47's and then there's the undocumented minefields (I can just imagine the RNS now - due to a minefield we didn't bothering surveying for, the company is reducing it's forecast for oz's produced...)

If only Liz Hurley would put in a higher offer...

[chipperfrd] 07/11/2012 17:30

Switching topics:

I found the clear mention of Mauritania in the HMB response to the offer a bit fascinating!

Why on earth Mauritania? And why mention it in a response to an offer?

Obviously has some resonance with AR or why otherwise would they call their holding company 'African' Resources, when the initial subsidiary will be in Kazakhstan!

I don't know of any specific deposits in Mauritania but it is certainly likely to be a prospective address for gold explorers given it's proximity to Mali, et al.

Should become clear in the fullness of time no doubt!

[chipperfrd] 07/11/2012 17:21

j4kes

It was being used for the first time so likely it was a poorly welded seam in the liner - or insufficient preparation of the base.

Either way, it's history now.

[j4kes] 07/11/2012 17:13

I would love to know how the bloody dam breached!! Something here smells worse than the half a dozen dead fish (i believe was reported)!

[chestnuts] 07/11/2012 17:12

chip
you have to wonder how long AR have been after hmb.

[chipperfrd] 07/11/2012 17:07

Amazing the different perspective across stocks and people!

I am currently researching silver stocks across the planet and whilst getting data from Fresnillo's latest quarterly I noticed that 5 miners have recently died at work!

But FRES sails on regardless (although clearly concerned about safety standards) and has a MktCap of $22B.

HMB has a tailings leak a year ago. No one died. It has all been rectified and the local villagers have been provided with rerouted water supplies in case of any recurrence.

HMB get fined an inordinate amount relative to the nature of the accident and the size of the company. And effectively they are smashed down by the Kazaks and the market. In contrast, as far as I can see there has been no follow-up by the Mexicans with regard to the loss of the 5 miners.

Two miners. Two different tragedies. Two very different outcomes!

[1nf3rn0] 07/11/2012 16:52

We'd all like to sell 100% at 2p. Now... Back to those pesky dead fish. If it weren't for them...

[kerrie3] 07/11/2012 16:47

i was referring to your mate 1nfrn0.
with an offer on the table it would make sense for posts to focus on that offer.

personally i've told my Broker i'm up for selling 100%, if i like what AR. are doing after that then i can buy back in.

[captain_crash_and_burn] 07/11/2012 16:12

Many thanks for your post chip.

I think I'm probably going to accept the offer for 60% of my holding and hold on to the rest. Limits downside but keeps some upside. New management could bring the change necessary to this company, the amount of shares in circulation will also drop so any demand should see the share price motor.

[giant steps] 07/11/2012 16:01

eh ? what are you on about kerrie3 ?

[kerrie3] 07/11/2012 16:00

its the deramper with the multiple posting handles.
that just about sums up the quality of your posts,why are you still here?
did you contact ADVFN about libel - of course you didn't.

[giant steps] 07/11/2012 15:59

re #16421

From Page 82/83


Looks like it's a nice pay day and new contract for TD.

Is that right ?

[1nf3rn0] 07/11/2012 15:46

" i think they have bigger fish to fry" Not fish from near seki... They all died in the infamous leak. Damn fish. Daffern should've been slapped across the chops with each one.

[j4yjaybee] 07/11/2012 15:24

Picked this up on the LSE thread and just read it myself.

The useless Mr Daffern receives £194,000 if/when this goes through, now that really does stick in the throat!

[kerrie3] 07/11/2012 15:15

good post chip, well done.
i'm convinced they'll comfortably get acceptance but like you i agree there is no way they will walk away from the offer if they are initially short of their objective.
i agree with the earlier post that their main aim is a controlling interest in a listed company and that Daffern and crew have been amazingly lucky in that HMB will benefit from the finance, clout and influence AR. will bring to the table although i think they have bigger fish to fry.

[chipperfrd] 07/11/2012 14:31

The offer document clearly states you can accept the offer for any amount of your holding - ie up to 100% if you want.

But as the offer is for a MAX of 60% (they have already escrowed £12m for this) then, if the take-up is for more than 60% then those up to 60% will be fully filled and those who have accepted for more will be scaled back pro-rata.

If less than 60% are taken up then ALL the shares you have put on the table will pass to AR for 2p in cash/share.
..... unless:
If the total number of shares accepted works out to be less than c. 402.39m (because they already have 88.45m) - ie less than 50.1% then they could:
(a) withdraw the offer (unlikely as they have set up AR and invited in Inst Investors for the sole purpose of this offer. And they have already paid 1.8p/share for the 88.45m bought from Bridgen)
(b) extend the offer at 2p (most likely)
(c) increase the offer price - eventually!

Read the document. It's on the HMB web site.

[hoveactually] 07/11/2012 14:28

they want to be owning 60% of the shares, to get that they would need close to 100% acceptances for people to only be able to sell 60% of their shares.
people like EBRD won't sell any but i suspect a high percentage of holders will sell all their shares and then make an informed decision to perhaps buy back in (or not) when they have a much clearer understanding of exactly what AR. plan to do.

[captain_crash_and_burn] 07/11/2012 14:20

But will we only be asked if we want to sell the lot if after the first round not enough people take up the 60% offer?

I could see the company recovering from 2p if the new majority holders pump in some capital and credible management so this may not work out too badly if it all goes through. In order to get the 50.1% they need taking into account their current 9% they will need about 77% of holder to accept the 60% offer.

(0.51-.09) = 0.42 (required from remaining shares)
1-0.09 = 0.91 (remaining shares excluding shares A alreadyholds)
0.91*0.6*x = 0.42
x = 0.42/(0.91*0.6) = 77%

My maths seem right, do people think 77% will sell 60%?

[dofmeister] 07/11/2012 14:00

Captain, I edited my reply earlier - I guess you could sell the entire if enough investors don't take the offer up!

[captain_crash_and_burn] 07/11/2012 13:57

So is 60% the minimum amount of your holding you can sell, and you can sell anywhere from 60-100% of your holding?

I agree that if everyone who sells only sells 60% of their shares then it would be unlikely that the 50.1% will be reached as I expect there will be a number who don't sell any?

[owencoffin] 07/11/2012 13:55

removed, link overlong.

[hoveactually] 07/11/2012 13:51

as i've said before, there's never been a recommended offer that hasn't gone thru so i would see at least 50% acceptance (they already hold 11%) as a given.
if you believe this then selling shares today wouldn't be derisking, it would be throwing away 0.35p per share profit.
it seems to me they are desperate to get a stock exchange listing and are even talking about moving to the main market. whilst i am sure they will finance Akmola and the Seki undergound mining i believe their main objective is to secure a major holding in the company to facilitate rolling in a number of other assets which would probably increase the size of the company dramatically.