Ly Emu Small Discussion Threads

[suits you] 22/8/2011 22:14

godolphin

Have edited 4529. Sorry just slip up, re Zriba.

[godolphin] 22/8/2011 22:10

They haven't got rid of Zriba!
"We will be continuing to invest in Tunisia as we advance our exploration efforts at our 100%-owned Zriba-Guebli operation."

Hence my comment about a Tunisian loan to develop it. Though they may not need it if the fluorspar price stays high enough.

[suits you] 22/8/2011 21:59

:-))

Just making mischief. Was away when news released. Caught up over the weekend.

Thanks Borisimo, as you say, all as I called it, months and months ago. Had said many times here Firebird / Passin not interested in Zinc / Lead .

Onwards and upwards me thinks, a completely new Company which we can speculate will become the holding Co for all of Firebird's Fluorspar investments in the fullness of time, given the statement below.

"Nicholas Davidoff, the Chairman of the Company, stated: "We are delighted to have secured Messrs Gourley and Bolton as key executives of the Company. Their long standing experience in the resources sector, particularly in the field of finance and M&A will be essential as we build this business "



IMO Consolidation could make this quite volitile in the short term. Not that much stock around ?

Name change looks good.

Disposal of Zinc and Lead assets in Tunisian, with offtake agreement in place for any fluorspar.

We keep Zriba with money in the bank to bring that to production stage
( unless they have something else in mind for that money.

Think we are in a game changing position here all backed by Firebird and a couple of joint CEO's who have international credibility.

Re-list cannot be far away.

[godolphin] 22/8/2011 09:02

That was in the rns and on the website. I've already registered my vote.

[suits you] 22/8/2011 07:15

Surprised no one has commented on upcoming AGM 31 Aug.

Main facts

Approve final matters concerning acquistions.

Change of name to Fluormin PLC

Consolidation 25-1

-----------------------------------------------------------------------------

Check with your broker, they should have details for voting

[godolphin] 16/8/2011 12:13

lol. I'm not at home so I've only been speed reading. Can't see any reason to delay the relisting now, so I'd expect around October time.

[h d shoring] 16/8/2011 11:20

The circular as in post 4521 calls for a meeting 31st August and states-
Subject to the passing of the resolutions at this meeting the directors intend to seek admission of the enlarged share capital to the aim market in the near future.
So refloat sometime in september seems good bet .

[godolphin] 16/8/2011 10:46

Everything as expected. I presume they consider Zriba to be viable, so I wouldn't be surprised to see some sort of government loan to develop it.

[devil20] 16/8/2011 10:37

What's the call then for relist? End September/early October?

[borisimo] 15/8/2011 22:16

Suits you....

well done you called a lot of these points months ago, non fluorspar asset disposal, consolidation, name change.

Whats your take on the latest news?

[shanny54] 15/8/2011 21:32

Link below to full document

[pisces3] 15/8/2011 18:58

if the number of shares a person holds is divided by 25 in the consolidation, and the opening price on relisting is 25 times the current price, why does everyone get shafted? or am i missing something.

[thechartistformallyknownasaol] 15/8/2011 14:24

HD Shoring, they've paid cheaper, the last placing pre-suspension was at 1.25p.
However you are quite right to suggest this will drop post-suspension

relisting at 50p with 50m issued shares post-consolidation... talk about illiquid

enlarged market cap of £25m looks steep, a valuation ripe for selling especially considering the standard sell-off companies get when relisting after suspension

worth a look in the £10-15m range so need to wait for the fat to come off, or even better open a spread bet on the relist. An easy 20 points on the drop from 50 to 30p (1.2p old price)

[h d shoring] 15/8/2011 14:02

Up to now this has been one of the fairest bod ,s on aim .
Firebird were paying 1.6p over a long period to get shares of mms .Many pi,s were able to pick them up at 1.5p and less .the new man paying 2p is a start and expecting that that is at a discount bodes well for the future share price ..
May drop short term as the 25 spreads are absorbed but then the sky is blue .
Will be adding if any chance of getting more under 50/60p

[27macca] 15/8/2011 13:52

£1 would be the least I would hope for, even then way way down!!

These consolidations are daylight robbery, happened a few times and each and every time been royally shafted!

Suppose it's better than losing the lot!

[h d shoring] 15/8/2011 13:40

With the new director getting them at 2p then would expect a refloat day price of at least 50p rising fairly quickly to £1 as scope of new company is revealed .
btwt#dik

[acta_topup] 15/8/2011 13:25

Excellent news indeed. Obviously a consolidation of the share capital means relisting at a multiple of 25x the suspension price. Overall, the company gains more credibility on the general market.

[monis] 15/8/2011 13:05

Yes indeed.

[howdlep] 15/8/2011 13:01

Excellent news

[topinfo] 15/8/2011 12:49

RNS Number : 3704M

Maghreb Minerals PLC

15 August 2011

Maghreb Minerals plc

("Maghreb" or the "Company")

Update

Key Developments:

-- Appointment of Joint Chief Executive Officers

-- Disposal of lead / zinc Assets for US$10m cash and Fluorspar Offtake Agreements

-- Notice of EGM

Maghreb is pleased to announce a number of important measures that have been taken to prepare the Company for admission to AIM.

Appointment of Joint Chief Executives

The Company has appointed Mark Bolton and Al Gourley as joint chief executive officers of the Company.

Mr. Bolton joins Maghreb from First Quantum Minerals Ltd where he has served as Chief Financial Officer. He has held a number of senior executive positions including Chief Financial Officer, Chief Operating Officer and Vice President - Corporate Development with resource companies listed on the ASX, TSX and AIM with activities in Australia, Africa, Asia and South America. Mr. Bolton's career includes a 10 year tenure with Ernst and Young stepping down as Director of Ernst & Young Corporate Finance Pty Ltd in 2002.

Mr. Gourley has been a partner, Chair of the Africa Group and Managing Partner (Johannesburg) of Fasken Martineau, an international law firm, and has served as a director of the Company since 2008. Mr. Gourley has been responsible for executing a number of the transactions underpinning the fluorspar strategy of the Company.

Mr. Gourley will join as jointCEO with effect from 1 September 2011, whilst Mr. Bolton will join later in the year.

Mr. Bolton and a trust of which Mr Gourley's children are beneficiaries have agreed to subscribe for 15,000,000 and 25,000,000 ordinary shares in the Company, respectively, amounting to an aggregate of GBP800,000 at 2 pence per share.

Disposal of Bou Jabeur and Fej Ledoum

On 11 August 2011 the Company finalised an agreement with a major mining company for the sale of the Bou Jabour, Fej Ladoum and Jebel Fej Ladoum licences in Tunisia for consideration of US$10.22 million.

In addition, the Company secured offtake agreements granting it the right to all future fluorspar produced from mining operations in respect of these licences. The transaction is consistent with the Company's stated objective of focusing on fluorspar assets globally.

Notice of General Meeting

The Company further announces that it has today posted a notice to shareholders to convene a general meeting (the "GM") to approve, inter alia, the acquisitions of interests in Sallies Limited and Kenya Fluorspar Company together with a change of the Company's name to Fluormin plc.

The GM will be held at the offices of Fasken Martineau LLP, 3rd Floor, 17 Hanover Square, London W1S 1HU on Wednesday 31 August 2011.

The circular convening the GM is available on the Company's website. The principal matters being put to shareholders are the:

-- acquisition of a controlling interest in Sallies Limited;

-- acquisition of a minority interest in Kenya Fluorspar Company Limited;

-- change of name to Fluormin plc;

-- consolidation of the existing share capital on the basis of one new ordinary share for every 25 existing ordinary shares; and

-- adoption of new Articles of Association.

Nicholas Davidoff, the Chairman of the Company, stated: "We are delighted to have secured Messrs Gourley and Bolton as key executives of the Company. Their long standing experience in the resources sector, particularly in the field of finance and M&A will be essential as we build this business.

"The disposal of our Tunisian assets was not only important in terms of securing funding for our growth, but maintains our ongoing interest in the any fluorspar production from these projects.

"The Company is very grateful to the Tunisian Government and its administrative agencies for its unequivocal support since 2004. The quality of Tunisia's administration and civil service, and their dedication to the development of their country, is unquestionable and resolute. We will be continuing to invest in Tunisia as we advance our exploration efforts at our 100%-owned Zriba-Guebli operation."

This information is provided by RNS

The company news service from the London Stock Exchange

END
NRABBGDICXBBGBU

(END) Dow Jones Newswires

15-08-11 1147GMT

[godolphin] 04/8/2011 16:18

And still fluorspar is strong, let's hope Sallies is producing and selling. Probably better to not be listed at the moment. lol.

[suits you] 21/7/2011 07:37

IMO no relist before Sep as we are now entering holiday period. But hey WDIK

[dreggspicker] 18/7/2011 11:24

mine in crest has shown zero value ever since de-list,no worries they are still there in the ether ...