Hambledon Mining Share Discussion Threads

[dofmeister] 12/11/2012 20:52

Zombie, as you said, a purchase at 1p may prove fruitful, old boy ;-)

[timgw] 12/11/2012 19:28

loppylugs - I agree entirely with your comments about buys listed as sells. A short while back I checked a whole load of transactions with dummy live trades. There was barely what appeared to be a real sell all that day. I feel that the lack of distinction is a weakness in the trading system for many of us but I am equally sure that those in the business are fully aware of which is which.

chipperfrd - I do read RNS regularly! What we don't know is how Mr Kablan plans on making a real profit from his 9% stake and whether those who stay in will similarly benefit. Maybe he is in it for the long term with his mates? Any current PI decisions will more than likely be made with an absence of real facts!

[loppylugs] 12/11/2012 18:59

It looks as if over the past week spreads/prices have manipulated to ensure that all deals are registered as 'sells' or at best '?'. Midweek the spread was large and top heavy so that deals going through which were clearly 'buys' (and some conspicuously so) were shown as sells. Once again today, with a 1.68/1.68 quote price, deals going through at 1.67/1.68 shown as sells. Trading has consistently been shown as 'red'. Has anyone any views?

[zimbi] 12/11/2012 18:44

dofmeister - 21 Jun 2012 - 22:39:19 - 14866 of 16484

I am happily buying more and will take the risk. 2m oz resource with a mine built and paid for. A major bank on board with us having carried out due diligence.

Too many old men on here thinking they can run a mining company.

The old men would like to be reminded of how many million of these you have. Old men have usually learned a little humility. I'm sure Jimmy and Elban are waiting for your next advice here.

[chipperfrd] 12/11/2012 16:57

TimGW,

It was certainly no secret and all on here should be very aware of the Concert Party holding (ie Blackwill Trade Ltd.) as their 88.448m shares (9.03%) were purchased from N Bridgen (RNS 28th Sept refers). The exchange was completed and reported by RNS on 22nd October. It was certainly widely discussed on this BB.

N Bridgen being the ex-founder CEO and currently a Non-Exec.

I imagine that the 9.03% becoming available presented the ideal opportunity to launch the partial offer and consequently AR was rapidly set-up as the holding vehicle with the four Assaubayev's as founding holders.
Chip

[sloppyg] 12/11/2012 16:54

and in his interest to get it away at 2p given the sweetener.

I would be amazed if AR walk away from this should they fail to get the vote/equity. They would have probably started due diligence some time ago when in all likelihood the share price was already above 2p. It has been pure opportunism to be able to come up with an offer that on the day was a 66% premium.

Unless they are in bed with some of the instis i get the impression it is going to be difficult to secure the 50.1%.

[1nf3rn0] 12/11/2012 16:29

Let's face it TD never gave a toot for this co anyway. Only making once a month trips to site from his UK base and never put any serious amount of his own cash in. Worse than bridgen by a long way.

[chestnuts] 12/11/2012 16:07

Heres a point

If the offer doesnt go through, and seen the directors have shown their true colours , we would possibly have a company but with out any directors, if the deal does fail, then we would have to have a EGM, would any on here vote for TD and co to stay on as directors, i dont think so.

[christianf12] 12/11/2012 15:53

CGNR capped at £3.5m yet has a 1m+ jorc resource if anyone interested/bothered. Broker target is 9.6p, NPV is 17p at $1372 gold. DYOR

[timgw] 12/11/2012 15:52

The offer is conditional upon AR getting 50% plus so if they don't its back to the market price again which could be less than 1.6p. Bear in mind also that these directors have less value shares than I have Tesco clubcard points so it is no big deal either way. The really big issue here (as I stated earlier) is that the "concert party" have 9% at 1.8p and are not offering them for 2p. That implies that they know something that we don't and expect more than 2p later.

A quick trawl on te internet tells me that both the main players have also UK registered companies that appear not to be trading. It is also believed by some that AR do actually want to keep a London listing for the future - probably to con us all again!! As always, IMHO and DYOR.

[sloppyg] 12/11/2012 15:40

..after postage costs probably breaks even !

[iiwarm] 12/11/2012 15:05

So why would he sell in the open market for 1.6p when he can get 2p for at least 60% of them soon?

[giant steps] 12/11/2012 12:12

Non-exec chairman is a seller

RNS 12th Nov 2012

[dofmeister] 11/11/2012 21:22

Inf3,

I expressed various opinions to the company which I felt represented the majority of discussions I have had with investors, on and off the BB boards. Those investors represent a good few % of the company and in short generally conclude that:

1. c. £10 per oz in the ground is a giveaway price (less with Akmola)especially given the infrastructure invested in to date.

2. AR could easily delist the company if they wished to.

I don't believe now that we are likely to receive a higher bid and the downside is a return < 1p if the bid fails and maybe worse (I see Visor have reduced their t/p to 0.07p). The company are finding it difficult to operate in KZ. (!)

AR may genuinely want the prestige of a London listing.

If I can get out at 2p then great, or worse ways 60% at 2p and the remaining shares I may leave in.

[1nf3rn0] 11/11/2012 20:47

Hi dof, what did the company say to make you feel that way?

I have the same opinion, but I'm a "deramper" aren't I, whereas you've always been a HMB optimist.

[dofmeister] 11/11/2012 20:40

After further discussions with HMB, I will be offering all my shares at 2p. I don't see any more coming from AR and the downside is too great. Its proving difficult for them to operate in Kazakhstan. Best of luck to all, but 2p now is better than nothing.

[phillis] 11/11/2012 14:51

Gogol was amongst other things a satirist of political corruption
He would find plenty of material writing about present day Russia let alone Kazakhstan
Echoes of Moliere of some two centuries earlier although the emerging bourgeoisie was his principal target rather than the political classes

Still a good read

[timgw] 10/11/2012 19:28

A bit off topic but I went to the theatre last night to see The Government Inspector. It was written by Nikolai Gogol, a Russian in 1836. A satire about Greed Stupidity and Corruption. Clearly these traits are still endemic over there.

I tried not to think about the relevance to HMB but somehow I could not get them out of my mind.......

[lfdkmp] 10/11/2012 07:18

"Usually dilution by placing to a third party doesn't come up against the same problems...."

Afraid the cynic in me whispers that they'll have no problem placing with a "compliant" third party. Then the words "rug" "feet" and "under" may well spring to mind for the ever suffering pi!

[rhotoid] 09/11/2012 22:40

loppylugs

As per my previous post 16355 that's what I think (although for a general offer).

If a placing shares to themselves at a discount then I think that could break all sorts of laws and rules, breach of the Fidicury duties of the Directors springs to mind.
Usually dilution by placing to a third party doesn't come up against the same problems as the placee is not the same as the majority and hence in affect the Directors are damaging all shareholders equally.

[elban] 09/11/2012 22:06

loppylugs,

not if they place the shares to themselves at a discount.

[loppylugs] 09/11/2012 21:48

ELBAN
If AR hold 50-60% of HMB shares and allow a placing, does that not dilute the value of Ar's holding

[tymedici] 09/11/2012 20:51

I only have a few shares left in this pile of poo. But if you take the view that the current administration where totally inept and that those who now wish to buy the company are out and out crooks...well you won't go far wrong.

[dofmeister] 09/11/2012 18:11

Eccles Pension Advisers dont seem to confident that AR will happen, they just sold out!!

Not that it was worth bothering with, I'll probably spend that much down the pub later.

[phillis] 09/11/2012 17:49

Tim
Well spotted
You are a genius sir
42 % was all they ever wanted