Mariana Share Discussion Threads

[stompy jones] 27/4/2017 10:52

Last comment to throw into the discussion:

It is starting to look to me that SSL may have thrown good money after bad to protect their original unusually large stake. If you read an interview with Nolan Watson from about 3 or 4 years ago he says that 13 or 14% should be the maximum input for a streaming/royalty company and usually it's best to commit less. The 7% holding in MARL shares was already something unusual and this latest is much higher and riskier.

It could be that this deal is the best thing for ordinary MARL holders and a chance to jump ship at something like previous highs. MARL wasn't going anywhere: sentiment was against it and all the warrants didn't help. Maybe the problem was Turkey but if MARL was at risk from bullying Turks then I don't see that SSL is in a much stronger position.

As I said earlier, good luck to all.

SJ

[pr0t0n] 27/4/2017 10:50

No probs , GOOD LUCK.


Interesting article :

[stompy jones] 27/4/2017 10:19

Proton

Your reply struck me as rather strange so I read your earlier post again and looked at it from a different angle. It can be read in two ways: the way I took it and (I think) the way you meant it. Accordingly, I have edited my post above to make it less abrasive.

Time to move on. Good luck.

SJ

[pr0t0n] 27/4/2017 09:49

Of course its not *free* , it`s part of the deal.

[stompy jones] 27/4/2017 09:46

Proton, you posted: "No point selling now...who ever sold at 86/88 p range basically gave away free Sandstorm shares."

It could be they seized the opportunity to buy Sandstorm shares in an amount, at a time and at a price, and on an exchange of their own choosing rather than take what's offered.

Look at yesterday's SSL chart.

[freelunch] 27/4/2017 09:25

That's enough for me good luck folks.

[pr0t0n] 27/4/2017 09:03

I see that Sandstorm had busy few months.
MARL`s JV partners from Soledad days Condor Resources had private placement with them back in February.

[shavian] 27/4/2017 07:47

Steeps - spot on with your post 2928. Having seen the way that Bahar stiffed Stratex this month, I'm sure that the MARL board were beginning to have misgivings about the potential fragility of their relationship with Lidya's powerful parent company. I feel that we are well out of this situation, and that Sandstorm and its powerful backers will be better able to forge an internationally binding streaming agreement with Lidya which should increase our chances of getting an enduing benefit from HM. Richard - thanks for your point re TSX vs NYSE shares. In sure you are right, and I'll check it out with Transact today. At least the cost of the transactions for switching the new NYSE shares to TSX (or vice versa) on Transact will be limited to 2 x £3.75 :0)And yes Barry, stop whingeing - this is a pretty good deal!

[bibs] 26/4/2017 22:19

Proton, that goes for you too ; )Check it out.

[goodgrief] 26/4/2017 22:04

It's management that have received the greatest 'entitlement'.

[rathlindri] 26/4/2017 22:00

Well said Mirabeau, I'm delighted with today's news and the results of same. I was beginning to feel nervous about the whole Turkey effect (whether real or imagined) and if we get the projected 110p equivalent reward at the end of this I will have doubled my money that I put in at the end of last July...Cheers!

[bibs] 26/4/2017 21:42

Plough your winnings in to SML.

[mirabeau] 26/4/2017 20:27

People moaning on here! You've just received a take out at a decent premium which most can only dream of and still people moan.

You take what you can get..remember we are PRICE-TAKERS

Unbelievable sense of entitlement

[goodgrief] 26/4/2017 20:03

I recall figures around £240M being bandied about for the value of HM at an investor meeting in London last autumn. So pretty disappointing take-out value. CEO and COO must have been offered an offer they couldn't refuse!

[dilbert dogbreadth] 26/4/2017 19:47

10to 1 consolidation since then

[w0lf0fwallstreet] 26/4/2017 19:45

It would have been good to had them at 1p 13K worth last time I looked at these

[barrywhit] 26/4/2017 19:04

yes pr0t0n,i read that it's just they are getting the spin co for nothing...

[pr0t0n] 26/4/2017 18:56

EDIT@

You could buy this entity on TSX once listed

[pr0t0n] 26/4/2017 18:54

Barry....Spin-Co, new entity will be created.
Wash their hands of AIM comes to mind.


*An interest in the remaining exploration properties of Mariana with a focus on gold, silver and associated metals in Côte d’Ivoire, Turkey, and Argentina (the “Exploration Properties”). Following completion of the Combination, Sandstorm intends to spin-out the Exploration Properties into a separate company (the “SpinCo”), with the Combined Group retaining royalty interests over the Exploration Properties and equity in the SpinCo.*

[barrywhit] 26/4/2017 18:28

Why didn't they just sell HM to Sandstorm and keep the rest of the portfolio, the share price relates only to the value for HM, so Sandstorm are getting the rest of our portfolio for nothing...they could have returned 85% back to shareholders and we would still have a company, there is a 500k jorc in Argentina...

[steeplejack] 26/4/2017 18:22

We're old dogs pr0t0n :)

[pr0t0n] 26/4/2017 17:54

Bang-on Steeplejack.
We had few run-ins in the past but you still remain one of the best posters ;-)

[greenrichard] 26/4/2017 17:35

Shavian - I also hold a lot of my shares on Transact. Based on the valuations provided in the MARL RNS, I'm guessing that the new shares issued to MARL holders would be SAND on NYSE.

If that is the case and you wanted to convert them to TSX, you would have to sell and repurchase.

[steeplejack] 26/4/2017 17:31

I don't think they'll be a rival bid but note that neither Sprott Group or Resource Capital have declared their support and they hold 10% of the equity between them.Those that have declared plus the directors account for around 18% of the equity so it's not a slam dunk which is why I suspect Sandstorm's brokers are and will be buying Mariana AIM stock in the market.In fact,it's more than likely they are shorting Sandstorm stock to pick up Mariana stock at a "reasonable" price.Thus,I don't see any reason to hurry a decision to sell unless you see the dollar weakening sharply or Sandstorm unexpectedly plummeting.The decision to sell to Sandstorm is motivated less by the economics than by a consideration of Mariana's minority status in the Hot Maden project.There are clearly rumblings behind the scenes of which PIs are unaware that have motivated Mariana to get taken over by Sandstorm now.It might be a better deal for AIM punters than they'll ever fully appreciate.

[rrr] 26/4/2017 17:14

Good post Shavian. I'm in SSL and MARL too. No doubt that streaming companies spread the risk of investing in gold mining, I really like the idea.