Mariana Share Discussion Threads

[steeplejack] 07/6/2017 08:39

Sold.I would of preferred to accept the bid but it's complicated by the fact that Barclays aren't keen to make a space for Sandstorm given their concentration on the UK and relatively light presence in the field of international equities.If you do end up holding Sandstorm shares,it's seamless as far as the revenue are concerned ie the IR won't consider you've opened up a new position by getting Sandstorm shares albeit the cash element of the bid must be accounted for.This mandatory corporate action feature makes it all the more likely that the company will get the 75% acceptance.

[shavian] 07/6/2017 00:06

GreenRichard: thanks for the steer but I'd already squared that with our excellent team at Transact, where the brokerage charge for the exchange will be £3.75.

[shakester2] 06/6/2017 19:07

Anyway - increasing price here and TSX - this just closing the gap or rumblings of something else?..

[shakester2] 06/6/2017 19:05

I spoke to my broker who said I can hold sandstorm but the change of ticker would be like selling and repurchasing and therefore subject to dealing charges (international rate - £75). Plus an exchange rate spread when buying and selling so double whammy

[steeplejack] 06/6/2017 11:12

My broker has just informed me that the Mariana merger proposal is classified as a mandatory corporate action.This means that acceptance is quite simply the default.It is only in instances where corporate actions are deemed voluntary that they send out forms etc to get voting intentions.WHY it is mandatory I don't know but that's what Barclays are telling me.I presume that I could instruct them to vote against on my behalf.With Mariana ringing people to discern their voting intentions,this all becoming a bit opaque.Furthermore,it's not clear that Barckays would wish to have Sandstorm shares in my nominee account even if I opened up an international equity dealing account to facilitate them.(I already have one overseas broker anyway in the USA.)Any thoughts anyone?I know with things coming to a head,others have commented on the logistics of getting to vote.

[greenrichard] 06/6/2017 08:30

Shavian - If you still hold MARL shares via Transact, you will need to send a secure email through your investor login to provide details of your voting intentions. They are not posting the circular etc as a corporate action on the site.

[steeplejack] 06/6/2017 08:04

Timetable courtesy of Divhunter who posted on LSE.

With the price of Sandstorm improving yesterday,the value of the bid is around £1.If it looks likely that the bid will fail,falling short of 75% acceptance,then Sandstorm shares might be expected to improve further in coming days.That,of course,will ironically make it more likely that Mariana shareholders might sell in the market place.The sold Mariana shares would then be assented to the bid,making it more likely than the bid will succeed.Catch 22.Either way,perceived wisdom appears to be that Sandstorm shares would go better if the deal fails.Yet,some consider that if Sandstorm were to win the day and acquire Mariana then the merits of the acquisition might begin to be appreciated and the Sandstorm shares further recover.A win/win then.I think the logistics of holding Sandstorm shares in UK brokerage accounts might dictate the outcome of the bid.Have yet to hear from Barclays about voting programme.Nothing on their website.Must be imminent.


EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Latest time for lodging Forms of Proxy for the:
Guernsey Court Meeting (purple form) 10.00 a.m. on 14 June 2017(1)
Extraordinary General Meeting (blue form) 10.15 a.m. on 14 June 2017(2)
Annual General Meeting (white form) 10.30 a.m. on 14 June 2017(3)
Scheme Voting Record Time for the Guernsey Court
Meeting, the Extraordinary General Meeting and the
Annual General Meeting 5.00 p.m. on 14 June 2017(4)
Guernsey Court Meeting 10.00 a.m. on 16 June 2017
Extraordinary General Meeting 10.15 a.m. on 16 June 2017(5)
Annual General Meeting 10.30 a.m. on 16 June 2017(6)
The following dates are indicative only and are subject to change:(7)
Guernsey Court Hearing 10.00 a.m. on 26 June 2017
Last day of dealings in Mariana Shares 23 June 2017
Dealings in Mariana Shares suspended on AIM 7.30 a.m. on 26 June 2017
Halt of trading of Mariana Shares on TSXV 26 June 2017
Scheme Record Time 5.00 p.m. on 28 June 2017
Effective Date(8) on or around 29 June 2017
Delisting of Mariana Shares from TSXV on or around 29 June 2017
Cancellation of admission of Mariana Shares to trading on AIM 7.00 a.m. on 30 June 2017
Listing of New Sandstorm Shares on TSX and NYSE Within 14 days of the Effective
Date
Crediting of the New Sandstorm Shares in Within 14 days of the Effective
uncertificated form to CDS accounts Date
Crediting of Sandstorm CDIs in uncertificated Within 14 days of the Effective
form in CREST Date
Despatch of definitive share certificates for Within 14 days of the Effective
New Sandstorm Shares in certificated form Date
Latest date for despatch of cheques and crediting of Within 14 days of the Effective
CREST and CDS accounts for cash consideration due Date
under the Scheme
Long Stop Date(9) 31 August 2017

[shavian] 02/6/2017 18:01

Lots of corporate activity this afternoon; SSL and a couple of other instis buying? Hence the burst of unexpected activity in the share price Better end to the week, with the Canadians still at it for a few hours. Interesting to see what happens on Monday.

[rotrader] 02/6/2017 15:31

Sorry about the off topic but I need some help to reach my goal for Jeff Stelling's March for Men- Prostate cancer marathon walk charity.
We have all made a bit today and its a worthy cause - one man dies each day from prostate cancer.
Any help will be appreciated.

[greenrichard] 02/6/2017 15:18

I've had it online via TD Direct but not yet via Transact.

Interestingly just had a call from Mariana Resources about this.

[goodgrief] 02/6/2017 15:12

Has the 'merger' paperwork for this takeover been issued yet? Thanks.

[greenrichard] 24/5/2017 16:41

The short is on Sandstorm.

[shavian] 24/5/2017 16:24

Nasty big short by MMCAP ;0(

[rathlindri] 22/5/2017 10:36

That's me out, good luck all!

[greenrichard] 22/5/2017 09:55

Thanks - I'm going to hold - got my W-8BEN form done for TD Direct.
I see this as a just a transfer of ownership of the 30% of Hot Maden and can only see the SAND share price benefiting in the medium term. More concerned with currency risk.

[exbroker] 22/5/2017 08:33

GR The arbs will be balanced so the new shares will cover the shorts, what the other holders do with the SAND who knows!! Most who dont want US paper will sell in the market before the deal closes.

[greenrichard] 20/5/2017 23:13

Assuming the deal is done - do you expect a bounce in SAND or will the SAND shares that MARL holders get be enough to cover the short.

[exbroker] 20/5/2017 19:25

Perm 124
You are correct in that all the arb funds who are long MARL are short SAND. The borrow is very liquid and the stock trades in Canada and New York. I am long MARL and short SAND in the deal ratio, rate of return about 6%.

[prem124] 16/5/2017 18:35

I am not sure whether that fund will be doing selling. The way they are described I would imagine in order to be market neutral and exploit arbitrage they went short on sandstorm and long on Mariana. They will probably cover short with Mariana shares.

[pr0t0n] 16/5/2017 09:45

Updated shareholder list 16/5/17

Sprott is still there for some reason, even though they should have declared last week.

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

[wisteria2] 16/5/2017 08:44

Might be of interest....


Greatland Gold PLC Agreement Reached on Ernest Giles Project

16/05/2017 7:36am

UK Regulatory (RNS & others)



Greatland Gold (LSE:GGP)
Intraday Stock Chart

Today : Tuesday 16 May 2017
Click Here for more Greatland Gold Charts.
TIDMGGP

RNS Number : 2336F

Greatland Gold PLC

16 May 2017

16 May 2017

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Agreement Reached on Ernest Giles Project

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development company, is pleased to announce that it has entered into an agreement with Newmont Exploration Pty Ltd ("Newmont"), a subsidiary of Newmont Mining Corporation (NYSE:NEM), one of the world's largest gold producers, with respect to Greatland's 100% owned Ernest Giles gold project.

Highlights

-- Newmont is granted access to Greatland's Ernest Giles project tenements and exploration database for a period of six months;

-- Additionally, Newmont is granted a right of first refusal should Greatland wish to sell or joint venture the Ernest Giles project during that six month period

[herbert howells] 16/5/2017 07:59

The implication of that is as soon as the merger goes through a lot of the new SAND shares are going to be dumped. Something to consider. Am I right about that?

[greenrichard] 16/5/2017 07:40

MMCAP Fund Inc (‘the Fund’) seeks to exploit market inefficiencies to achieve high risk-adjusted returns for investors. The Fund’s primary focus is on merger arbitrage, private placements and other event driven special situations that provide superior risk-adjusted returns. The Fund managers use market neutral hedging strategies to ensure little exposure to market movements, resulting in absolute returns that are independent of the direction of the market. The Fund targets less followed transactions that are not widely covered in the media or by other hedge funds.

They are not long term investors - sames as the others that have been buying in.

[shavian] 16/5/2017 07:27

RNS out: What do we know about MMCAP?