Mariana Share Discussion Threads

[bittorrent] 26/4/2017 12:11

So we should get the details and timetable within 28 days, probably sooner. I would guess another month before the deadline for acceptances, unless someone else knows better what the usual time allowed is?

[freelunch] 26/4/2017 11:58

Would need to be below $3 for this valuation would it not.

[pr0t0n] 26/4/2017 11:51

BT,

Indeed,

[bittorrent] 26/4/2017 11:39

It looks like the main variable is the Sandstorm SP, we will rise or fall as this fluctuates. It was around $5 in Feb.

[freelunch] 26/4/2017 11:32

It's not definite tho.....exchange rate fluctuations.....SP fluctuations so risk. Not sure this much tho :)

[sheep_herder] 26/4/2017 11:29

pr0t0n, yes, realised that, but assumed that the total value is just that.

[pr0t0n] 26/4/2017 11:27

SH.

Its cash plus shares for combined value of 110p.

Under the terms of the Combination, Mariana shareholders will receive 28.75 pence in cash and 0.2573 of a Sandstorm share for each one Mariana share held. The Combination values Mariana at approximately 110 pence per Mariana share based on the closing price of US$4.04 per Sandstorm Share on the NYSE MKT and a currency exchange rate of £0.7788 per USD, on April 25, 2017.

The terms of the Combination represent a premium of approximately 84% to the closing price of 59.50 pence per Mariana share on April 25, 2017 and a premium of approximately 88% to the 20-day VWAP per Mariana share.

[freelunch] 26/4/2017 11:25

Not to this discount No. Deal is not done I guess and a few variables to consider. I just think many like to remove any risk and take the money and run. So MMs never like to make life easy.

[sheep_herder] 26/4/2017 11:16

So can anyone explain the price reaction? Are the SSL share part of the deal being discounted or what? I would have expected the price to open at 110p but maybe I'm missing something.

[steeplejack] 26/4/2017 11:03

Perhaps,I accept that Mariana is a cheap way into Sandstorm but it's still irritating that the deal doesn't facilitate an AIM listing for Sandstorm stock.

[dilbert dogbreadth] 26/4/2017 10:31

Us owners have no issue and so the arb between the two prices will be negated.

[steeplejack] 26/4/2017 10:27

Umm.....Well,it's a done deal and I can't see a third party interfering in this proposed union with a board recommendation and the major shareholders have already committed to acceptance.Other than waiting for the Sandstorm Gold price to respond this afternoon,the marketmakers are aware of the complications for private clients arising from this deal,namely no mention of an AIM listing for the combined groups equity.I suspect this is weighing on the share price and partially explains the substantial discount to the value of the bid of around 22p.Accept the bid and PIs will receive US shares.If their broker doesn't have access to dealing in US stock,they'll receive a US shareholding which is in effect untradable.In any event,the Inland Revenue will almost certainly regard the deal as representing a change of asset designation ie a capital loss or gain will be recognised on your existing Mariana shareholding as Mariana is acquired by Sandstorm.The MMs know,that Mariana private shareholders of AIM stock might be inclined to sell to avoid complications.

[p@] 26/4/2017 10:24

A warning from sandstorm director.

[herbert howells] 26/4/2017 10:04

Be careful. Sandstorm is going to be one of the shares sold down in the proposed re-organization of GDXJ in June. It's something to consider among other factors:

hxxp://themacrotourist.com/macro/the-real-message-from-the-gdxj-mess

[pr0t0n] 26/4/2017 09:49

Agreed Wooster.
It`s worth keeping an eye on SSL .

[pr0t0n] 26/4/2017 09:46

Robust Estimated Economics:1
IRR over 100%, AISC less than
US$400/oz (gold equivalent basis).

LOL !

[wooster4] 26/4/2017 09:46

will be interesting to see what happens to the sandstorm share price this afternoon.

[pr0t0n] 26/4/2017 09:22

The problem is not so much Turkey but the minority stake.
Anyone attempting counter bid, even if successful would have to deal with Lidya afterwards.
It was telling last few months, no interest from II`s.

[luckyvince] 26/4/2017 09:21

Shavian. Any chancce you could give a quick rundown on Sandstone.

[johnyee 7] 26/4/2017 09:20

So does this mean we'll hold American listed shares?

[barrywhit] 26/4/2017 09:14

WOOSTER4,

Not sure about a rival bid, Roth and Parsons and a couple of large shareholders have approved the deal, and we are in Turkey, so don't hold out much hope..

[wooster4] 26/4/2017 09:10

Wonder what the chances of a counter bid are - every mining company would have been aware about the asset prior to todays announcement - i'm sure there are some running the slide rule over the company now

[goldenshare888] 26/4/2017 08:53

It will obviously be presented as a rip roaring success.

Bonuses all round I should imagine.......

LOL

[shavian] 26/4/2017 08:51

Hi Zadder. I hold my SSL shares in my personal pension and my ISA which are hosted in a single portfolio on the Transact platform. Transact is only accessible through your IFA if you have one, but is magic in every way. They can access shares on most stock exchanges worldwide at £3.50 a deal as long as the share is listed on CREST. Non-crest shares are much more expensive so should be avoided, but thankfully TSX:SSL (Sandstorm) is Crest listed. NAI.There is already a Sandstorm thread on ADVFN! It's thinly populated (mostly by me) but come on over. Just look for it under SSL in the little search box at the top of the thread. See you there!