Lithic Metals (SEE LSE:AFNR) Share Discussion Threads

[themoneymonster2] 26/11/2009 08:47

It'll take 4 weeks to get your head around the admission document. Well we did say we wanted more info. Boy did we get it.

[imperial3] 26/11/2009 08:40

No trades so far!!!

[themoneymonster2] 26/11/2009 08:27

admission document now on the website



only the 284 pages : )

[themoneymonster2] 26/11/2009 08:24

the 2 docs released this morning now on their website so just waiting for the admission doc.

Hopefully a bloody big acorn Paul.

[ghhghh] 26/11/2009 08:19

Still sod all info!

Will be interesting to get Admission Doc for more detail.

This is a play on the directors and their connections. However you stack it we appear in better position than 6 months ago. Lets just hope we are holding an acorn!

[themoneymonster2] 26/11/2009 08:13

The admission doc is not on the website yet. Massive spread still I see. Will be better when the RTO goes through as shares will be more liquid.

[imperial3] 26/11/2009 08:09

Not much to write home about so far.

[humbugg] 26/11/2009 08:06

positive start this morning for the shareprice...not.

[zangdook] 26/11/2009 07:24

One thing that really annoys me is when a company issues an RNS saying a document is on their website before they put the document on the website.

edit: as if posting announcements as Word documents wasn't bad enough.

[zangdook] 26/11/2009 07:19

I don't agree.
Without NWT it's impossible for 5 holders to come up with 45m shares, so NWT must have voted no. Therefore the remaining four no-voters, apart from NWT, had about 1.5 million shares each on average (I'm estimating NWT's holding at ~39m). If Amber was among them, it must have voted 'no' with only part of its holding, even if the other three had only one share each. I think Amber voted yes (or possibly abstained).

(edited for clarity)

[themoneymonster2] 25/11/2009 10:11

I assume Amber voted against because if you follow the following link:



You will see that Amber is URU's second largest shareholder and the resolution was rejected by only 5 shareholders so they would have to have had approx average of 10% each to vote against. Amber has 10.38%.

[zangdook] 25/11/2009 10:07

Why do you assume Amber voted against?

If you're right, it's possible Dattels & co didn't want so many KAH shares dumped into the market where RIO or someone may have snaffled them up. Otherwise it may have been a tax issue - I don't know where Amber are based or how tax issues would have affected the business with LMY.

[themoneymonster2] 25/11/2009 09:54

URU Announcement yesterday after close:





At the Meeting, 45,086,955 votes were cast against the resolution, representing 54.31 per cent. of the votes cast at the Meeting. These votes were received from 5 Qualifying Shareholders.

I assume Amber were one of the 5 shareholders who voted against the resolution so they don't want to hold the KAH shares direct but why?




Anyone any thoughts?

[themoneymonster2] 25/11/2009 09:42

I think we will in the admission doc surely?

How does URU's affect LMY?

[giantpeach2] 23/11/2009 17:09

It would be nice if we got a update before we come back from susspention, reguards resource esstimates etc!!!

[themoneymonster2] 23/11/2009 09:38

Not long to wait now. From RNS:

Based on current advice, the Board believes that the Acquisition will be completed, with the Enlarged Share Capital admitted to AIM before 31 December 2009.

[martinfrench] 18/11/2009 12:51

romeo, no need to do that much research, from 2012 onwards, around the time rossing might be open, it will get very interesting, and being a potential 13% mkt supplier they will have some control over the price.

[martinfrench] 18/11/2009 12:50

increased pay out percentage as well, so have to revalue this one.

[giantpeach2] 18/11/2009 12:44

lets hope so Romeo

[romeoandjuliet] 17/11/2009 20:31

I need to do a bit more research but the current swing towards nuclear power makes uranium look a very interesting play right now.

Looking forward to 2010

[romeoandjuliet] 17/11/2009 20:26

Lithic Metals in reverse takeover of Amber Resources To Create 'AfNat Resources' Focused on Uranium And Nickel


Lithic Metals and Energy Ltd (AIM: LMY) announced its intention to acquire all of the issued shares in privately owned Amber Petroleum Ltd. The acquisition valued at £9.48m will constitute a reverse takeover pursuant to the AIM Rules. Upon completion of the transaction the newly formed company will change its name to AfNat Resources Ltd.

Under the terms of the acquisition, Amber Shareholders will receive Shares with an implied aggregate value of approximately £9.48m.

Until this point, privately owned Amber Resources has been focused on investing in junior uranium mining and exploration companies, particularly those with direct or indirect interests in Namibia. It has acquired minority interests in three companies: Bannerman Resources Limited (TSX: BMN, ASX: BAN), Niger Uranium Limited (AIM: URU) and West Australian Metals Ltd (ASX: WME). It also currently has cash balances totalling approximately US$2.55 million.

According to Lithic Metals, Amber's current equity investments will provide the new company opportunities for a positive return as it is the directors' joint belief that world demand for uranium, and consequently its price, will increase as a result of the projected growth in nuclear power generating capacity.

Subsequently the board of the newly formed company will be committed to creating an international mining and exploration group focused on investing in and acquiring and developing resource projects, including in particular uranium and nickel assets.

The new business strategy would also give the company the capacity to acquire strategic stakes in private or publicly traded companies with a focus on all types of natural resources.

Lithic expects the takeover to be completed before the end of 2009.

[themoneymonster2] 13/11/2009 09:39

Not sure, they did say that they expect to re-list befroe the end of Dec '09 so not long to wait now.

[giantpeach2] 13/11/2009 09:35

I was hopeing for fireworks on relist, so we get noticed with the new name and all that!!!! are we still waiting for a value to be put on the assets, not sure if thats the right word!! all the stuff in the ground, uranium etc etc!!!

[themoneymonster2] 13/11/2009 09:31

You and me both. I am very excited about the prospects here. This is definately a management to back and the main reason I bought.

[tebbin] 13/11/2009 09:26

themoneymonster2.......Thanx for the info.......will keep watching...I am in with a sizable investment........