Lithic Metals (SEE LSE:AFNR) Share Discussion Threads

[themoneymonster2] 13/11/2009 08:58

That just means that they can issue shares in the future to raise cash, up to using the 2,698,000,000 92.7 billion shares)

The issued capital on re-admission will be the 411,724,043. At say, the 3.38p it was suspended at would give a vaqlue of £13.9 million.

[tebbin] 13/11/2009 08:51

themoneymonster2...........Hope I have misconstrued the notice but the following is what is throwing me..........

At the SGM, approval to
(i) convert all existing unissued preferred shares into ordinary shares; (ii)
increase the Company's authorised share capital from GBP3,020,000 to
GBP30,000,000 by the creation of an additional 2,698,000,000 ordinary shares of
GBP0.01 par value each; and (iii) change the Company's name to AfNat Resources
Limited will also be sought.

[themoneymonster2] 13/11/2009 08:45

Don't know where you get that figure from, this is from the merger rns:


Key Statistics




Key statistics on Admission are expected to be as follows:




Number of Ordinary Shares in issue prior to the Acquisition



126,297,197

Number of Consideration Shares to be issued and allotted pursuant to the Acquisition



285,426,846

Number of Ordinary Shares in issue immediately following completion of the Acquisition and Admission



411,724,043

Consideration Shares as a percentage of the Enlarged Share Capital



69.3 per cent.

[tebbin] 13/11/2009 08:39

themoneymonster2..........I keep going back to the RN anouncing the merger...........what throws me is.... they are issuing 265.0 billion shares at 0.01p. This doesn't seem like a good deal for the small P/I but a massive dilution of their holding.......There maybe a good reason that this is of benefit to us but I dont see it......

[themoneymonster2] 10/11/2009 17:00

Oops, have edited the post. I agree with the valuation. Around 10 million GBP in cash and cash equivelents it looks like. So a value of 5 million GBP on the assets would give a market cap of 15 million GBP or around 4p a share.

[inside building] 10/11/2009 16:52

URU do not own shares in EXT, they own shares in KAH.
The position is that at the end of this month the Amber shares in URU will remain in place but Amber/Afnat will be given a minimum of 20.66 KAH shares for every 100 URU shares held as a special one off dividend. So with an estimated 13,285,013 URU shares Afnat will also be the holder of 2,744,684 KAH shares which have a current value of £5.05m but this is trading at a 20% discount to the EXT value of £6m. After this dividend the URU shares are likely to end up trading at circa 5-7p. So the URU investment value will be £665k-£900k.

Hopefully this will then help put a clearer picture as to the potential value of the merged entity. By my calculations assets and cash could be circa £15-£20m which should see a trading range of 4-5p if the market understands and values the merged entity.

IB

[giantpeach2] 10/11/2009 16:21

Nice themoneymonster2, its getting better!!!

[themoneymonster2] 10/11/2009 09:23

The Times today

Rumour of the day

Shares in Kalahari Minerals rose 3p to 176¾p amid rumours that Extract, in which the group has a 40 per cent stake, may put out a particularly bullish resource update this week. Kalahari's management is visiting potential investors in the United States in an attempt to drum up further interest in the Namibia-focused group.


This affects LMY/AfNat through their holding in URU who own shares in KAH, Who in turn own shares in EXT.

[inside building] 05/11/2009 00:35

I am not saying it is the same but take a look at what happened to North River for some guidance. Since the reverse takeover and 3p placing last month the shares have steadily risen.

My guess would be that the market will initially undervalue the rentry on AIM. I am actually not sure what the reverse takeover of Amber gives the company apart from cash and investments. It will not allow them to develop the mining assets so i suspect that once we see the share price settle then expect a capital raising which would have been difficult to achieve with Lithic alone. Then with a share placement expect Dattels to appear somewhere either personally or through one of his other companies. This is all about the long game and the Bannerman, KAH and Western Metal stakes are all in the game as it all connects to Namibia and Extract.

(i) convert all existing unissued preferred shares into ordinary shares; (ii) increase the Company's authorised share capital from £3,020,000 to £30,000,000 by the creation of an additional 2,698,000,000 ordinary shares of £0.01 par value each; and (iii) change the Company's name to AfNat Resources Limited will also be sought.

The expansion of the company to 2.7bn shares is Polo all over again.

Afnat will become an African Natural Resources company but to furnish the ambition of Dattels and Mellon.

IB

[themoneymonster2] 04/11/2009 09:38

Difficult to say and I am not the right person to ask. I am suprised how quiet Paul is on this but maybe he is waiting for details to. I know that the market was placing a value on LMY of £4 million before RTO so you would assume their assets were worth around £3 million minimum. So that takes value to £11 million so rest of Ambers holdings/assets worth £2.5 million? I would assume the stake in the oil field, in connection with EEL (5%) ids worth multiples of £2.5 million?

Expect we will get a full update on cash, and assets at the admission to trading statement.

Just have to wait and see but exciting times.

[imperial3] 03/11/2009 22:41

How much do you think the assets are under valued.Any thoughts on this?

[themoneymonster2] 03/11/2009 22:33

No idea but shares in issue will be 411,724,043 so at 3.3p that's around £13.5 million market cap, to cheap.

[imperial3] 03/11/2009 22:26

Any guesses what the price will be after suspension?

[themoneymonster2] 03/11/2009 18:22

So cash around £8 million and a market cap of £13.5 million (assuming 411 million shares and 3.3p sp) valueing the assets at around £5.5 million. I can see this multi bagging on admission and I am not ramping it.

[inside building] 03/11/2009 17:42

Cash will be circa £3.3m
KAH shares will be circa £4-5m subject to SP
No debt

The rest will be mining assets and other investments in oil/U308 companies.

IB

[themoneymonster2] 03/11/2009 13:46

It would seem there may be a lot of money to make out of EXT via our shareholding in KAH.

How much cash, debt (if any) on top of assets will AfNat have on admission, anyone?

[giantpeach2] 02/11/2009 18:42

Im supprised Fairdeal has'nt had a take on this!!! you still out there Fairdeal????

[romeoandjuliet] 01/11/2009 20:10

Im pretty intrigued and happy to be in rather than out on this one.

Will be interesting to get grhhhhhhhhhhh's views.

[themoneymonster2] 01/11/2009 10:28

I remember ek (Simon Cawkwell) was very bullish on EEL before they were suspended. Looks like this 5% held by Amber could be worth a lot?

[inside building] 31/10/2009 17:53

Afnat will now be a holder of 2,744,684 KAH shares. The URU special dividend allows for URU to be taken over next year as it will be a small U308 explorer with a bit of cash, 2.5m KAH shares, 20% of URAmerica and mining prospects in Niger. The links between Afnat and URU are there for all to see. And once Afnat and URU merge do not be surprised if the combined entity then becomes a bid target by Dattels.
Afnat i am guessing is short for African Natural Resources and Niger will certainly fit this umbrella. So if EML are remaining in the Extract Resources game until the end and Dattels/Mellons are major shareholders of EML then i can see EML/Afnat merging once Dattels has released the cash from EXT. This would give you a combined entity with operations in:

Namibia - EML
Niger - URU
Zambia - Lithic
Togo - Lithic
Mozambique - Lithic
Bannerman and Western Australian Metals - share investments

What will Afnat be valued when the merger completes? £13.67m is what the Amber valuation suggests which is 3.3p per share. However, what are the component parts worth?
£3.3m cash
£4.5m in KAH
Surely we are looking at a company that will be at 5p per share plus!

IB

[fordtin] 31/10/2009 12:25

Hi Wendy,

I posted the following on another forum earlier. I see you've already been discussing Harald so maybe you can help fill in some of the blanks.

____________


I haven't got time to follow this up at the moment, so I'll throw it on the table to see if anyone else thinks there's some significance to Harald Van Hoeken's recent fondness for musical chairs. It does seem to be the 'in' game amongst any director remotely connected to the EXT/KAH/URU/NWT complex.

Harald van Hoeken resigned from the board of Polo just before Amber purchased a substantial holding in Niger Uranium. According to Lindekin* he may have recently left Amber to join Equinox.

The Equinox website doesn't appear to have been updated since 2007, but at last update the Executive Chairman of Equinox was MR. MOHAMMED ASIBELUA, who is/was also the Executive Chairman and founder of Amber Petroleum Limited. AFAIA he retains personal interests in Amber's oil projects.

　

*




______________________


A little out of date, but might be of interest as Amber's website has been withdrawn.


Sinopec Ready For JDZ Drill
Nigeria - Upstream, Exploration - Jun 23 2009

China Petroleum and Chemical Corporation (Sinopec) is preparing to drill its first exploration well in the in the Joint Development Zone (JDZ) offshore Nigeria and São Tomé and Príncipe (STP), .....

....Sinopec operates Block 2 and holds a stake of 28.7% alongside ERHC Energy (22%), Addax Petroleum (14.3%), ONGC Videsh (OVL, 13.5%), Equator (9%), A & Hatman (2.5%), Amber Petroleum (5%) and Foby Engineering (5%).



_______________________



... Equator has signed a PSC for Block 2 in the Joint Development Zone between Nigeria and São Tomé & Príncipe. Equator's original allocation of a net 6% equity interest was increased to 9% when the company farm-in to the interest of another participant.

Of the remaining interest, 65% is held by a consortium of Sinopec (operator), ERHC Energy and Addax Petroleum. The Nigerian firms, Amber Petroleum and Foby Engineering, hold 5% each. Some 15 prospects and leads have been identified in the block, four of which are very significant. The partners are actively searching for a deepwater drilling rig. Equator has posted a guarantee for its share of one obligation well in the first 5 year exploration phase of the PSC. ...



_______________

[lizzie ii] 31/10/2009 11:50

Possibly, but the URU proposal to distribute much of its holding of KAH shares would be against the flow of that idea.

[wdurham] 31/10/2009 11:21

No, humbugg - just curious about said fingers and said pies. Harald van Hoeken is the boss of Amber, and resigned from the Polo board in May, as stated earlier.

The web gets ever wider - you have to wonder whether this complex mesh is worth it! Niger - Emerging Metals - Kalahari - Regent Pac - Extract - Lithic - Polo - Amber. And Dattels' representatives or associates involved with most of them (I haven't checked them all!) I would think the main event is Rossing. I wonder if all this fragmentation has the purpose of masking the steady accumulation of economic interest in Rossing?

[themoneymonster2] 31/10/2009 09:32

Remember the Times interview with Jim Mellon a couple of months back when he only really mentioned EML, and saw that as his next URAMIN. Guessing that Dattels feels the same. Might be a big masterplan to bring all these smaller companies together at some point.
Anyway I think you would be a bit mad not to be invested in at least one of Dattels/Mellons companys.
Things are going to get interesting here and I am glad I am in.