Hambledon Mining Share Discussion Threads

[sloppyg] 19/11/2012 15:47

Almost exited completely now. Rather the guaranteed 1.65p then run the risk of it not going through and being left with stacks of stock at sub a penny to shift.

A sorry end.....

[captain_crash_and_burn] 19/11/2012 12:17

Tim Daffern celebrating? This makes me sick.

[phillis] 19/11/2012 09:41

a clear enough statement

[aaaaar] 19/11/2012 09:29

Interesting that Hendersons are increasing, even if it is only c600k.

[1nf3rn0] 18/11/2012 20:41

Wonderful, we have "thumbs up" and "thumbs down" buttons now.

Thumbs up if you wish you'd never invested in this heap of dung!

[vish65] 18/11/2012 15:11

re article

"Tim Daffern is celebrating two years as chief executive..."

anyone get an invite ? :)

[chestnuts] 18/11/2012 10:01

THe article which say that AR will reverse several of their assetts into hmb, the problem i have with that is they will not give hmb shareholders any of the value of the said companies, they will have a placing and buy the company so your shares will get devalued, and so on,

[chestnuts] 18/11/2012 10:01

THe article which say that AR will reverse several of their assetts into hmb, the problem i have with that is they will not give hmb shareholders any of the value of the said companies, they will have a placing and buy the company so your shares will get devalued, and so on,

[dofmeister] 17/11/2012 22:14

VISH, yes, a very interesting article which I think explains a lot. I think you missed this old chestnut !


"The company is currently producing gold from its Sekisovskoye mine and has a stated aim of increasing annual gold output from a hoped-for 26,000 ounces this year to 100,000 ounces by 2018, with a useful contribution likely to come from Kazakh takeover target Akmola Gold"

Finally got the papers from HSBC and voted for in respect of my remaining shares (sold a majority last week).

[vish65] 17/11/2012 20:29

ref dofs link. Thats a very informative article - all holders should read it.

Lots to consider in the article although it seems to me

a. Seki is no longer considered a co maker and not mentioned , they're showing greater interest in other assets (grades too low ?)
b To deal effectively in Kaz (and now possibly Kyrgyzstan !!! ) the British connection is nothing but a hinderance and would be better off gone.
c.Certinly HMB as we know it will disappear. How that happens depends on your viewpoint

Very high risk . I'm focuusing on a exit from here now as there are safer bets nearer home ( the irish sea for example !)

[chestnuts] 17/11/2012 11:32

Dof

Not sure how the market will take this after all Kanat Assaubayev were caught out fiddling against Pollyus, so expanding the HMB model with other assests, will not go down well as who will believe them in what the actual assest are worth. what do they say about building on sand.

And seemingly the board effectivly resigned because of this deal , its all Tim Dafferyn idea.

[timgw] 16/11/2012 18:57

My holding is with Stocktrade (a division of Brewin Dolphin). They simply gave me three coices: Offer 60% of holding; offer alternative amount; No offer. No mention of any voting. I have offered 100k shares as I only bought them a few days before the offer at 1.1p.

Over the last week I have tracked down a member of EBRD staff responsible for projects in Khazakstan. He is adamant that EBRD will not be making any further public statements regarding their holding and the offer. I had asked how they intended to safeguard the money invested that had effectively been provided by European taxpayers. I was very polite!

[loppylugs] 16/11/2012 18:16

Spoke with TD Waterhouse today as their site only appears to give holders of share in a nominee account with them, the option of selling/not selling shares under the offer. They told me that the question of acceptance/non-acceptance of the offer had been contracted out to a company called Broadridge - who had the responsibility for sending out voting documents - none received by me! If this is representative of other on-line brokers, there will be a few no votes by default

[apeters1] 16/11/2012 16:26

Interesting article...

[boadicea] 16/11/2012 15:26

Are they allowed to make that assumption?
Some people may be against the whole arrangement (i.e. would vote against) but equally would want out at 2p if it went through (i.e. offer their 60% + excess.)

[chipperfrd] 16/11/2012 14:56

boadicea,

My take on the two nominee holders you have mentioned is that, by definition, if they are instructed by holders to ACCEPT the sale of shares for any percentage, then that must imply a vote FOR the offer.

The only issue would arrive for those who wish to vote FOR but do NOT wish to sell any shares. I assume the broker might well assume a No vote under such circumstances.

[aaaaar] 16/11/2012 14:49

fwiw - As mentioned before I have considerable exposure via IG but no voting rights.

[chipperfrd] 16/11/2012 14:46

boadicea,

HL are certainly asking for instructions on both the VOTE for/against and the ACCEPTANCE with regard to number of shares.

At last count, HL were nominees for 40.6m (4.15%).

[boadicea] 16/11/2012 14:37

Phillis - A nominee (unless having discretionary authority) should vote as instructed by the beneficiary, whatever that is, or, if not instructed and without discretionary power (often the case as most nominees do not invite instructions but will accept them if given), should abstain.
In this case, that is a separate issue to the number of shares offered in the tender which is all that the two nominees that I know of have asked.

My reading therefore, is that since some/many/most nominees haven't invited an instruction for or against the offer, it may result in a lot of effective abstentions which could jeopardise the 50+% required in favour to secure the conditionality of the tender. In other words, the required 50+% of the shares may be offered but the absence of a vote in favour of any offer taking place may prevent the offer from proceeding.

To quote: "The Partial Offer cannot proceed unless it is approved by the requisite percentage of Independent Hambledon Shareholders. This shall require that valid votes cast "FOR" the Partial Offer by Independent Hambledon Shareholders exceed 50 per cent. of the total valid votes cast either "FOR" or "AGAINST" the Partial Offer by Independent Hambledon Shareholders ..."

Somewhat confusingly, details of this separate, primary and preliminary requirement to approve the Offer appears in the Offer Document AFTER the details of how to accept the offer in terms of quantity.

[phillis] 16/11/2012 13:06

a nominee can only vote for or against the offer
it cannot vote 30% for the offer and 70% against surely (or whatever %)

[boadicea] 16/11/2012 12:34

Some nominees appear only to be asking how many shares one is offering for tender but not whether one wishes to vote in favour of the offer in the first place.

This could be important as it is apparently possible to vote in favour of the offer taking place (pink form for individual holders) but nevertheless retain all (or more than 40%) of one's shares (as entered on the blue form for certificated holders), or the other way round, to vote against the offer but nevertheless offer one's shares in the event that the offer goes through.

I don't know whether confusion on these points may affect the outcome of the offer.

PS: It doesn't help that the Offer Document approaches the above horse and cart from the rear.

[chestnuts] 16/11/2012 08:44

Dof

As you say interesting, look at this way maybe they are happy with the AR buying, or they are just buying to sell out and making a quick 17%<

[dofmeister] 15/11/2012 23:46

H'mmm, interesting to see Somercourt increase their holding today. The last time I checked them out about 2 years + ago they were the personal investment co for George Robinson of Sloane Robinson, very successful hedge fund managers.

Think I will leave my remaining slug in for the time being

[1nf3rn0] 15/11/2012 16:12

I'm in EMED too dof. Hope we have better luck with a western miner.