Minco Share Discussion Threads

[bageo] 18/9/2018 18:21

announcement out yesterday
hxxp://www.buchansresources.com/news/buchans-continues-intersect-high-grade-mineralisation-exploration-drilling-lundberg-central-newfoundland/

[bageo] 18/9/2018 18:21

announcement out yesterday
hxxp://www.buchansresources.com/news/buchans-continues-intersect-high-grade-mineralisation-exploration-drilling-lundberg-central-newfoundland/

tasty!
Hole H-18-3506, intersected 10 m assaying 5,53% Cu, 22.50 %Pb, 8.50% Zn 83.3 g/t Ag and 0.022 Au below historic underground mine workings.

[lendmeafiver] 14/9/2018 20:43

So with the Dalradian transaction done Buchans must have circa CAD5.5m in cash ie a fully funded drilling programme and another matter cleared up, surely paves the way for a listing before the year end.

[oooff] 31/8/2018 19:08

I believe the Buchans share are on a computershare Canada direct registration system (DRS).
My last transfer of 3 fully listed large USA shares from iii to a different UK broker took approaching 4 months.
I was hoping Buchans would list, so I could sell, and potentially avoid another lengthy transfer.

[bageo] 31/8/2018 18:34

oooff the half year report makes it clear you can transfer shares - there is no reason why iii cannot follow these instructions you wish to give them to transfer (to a paper certicate or other broker)


"Shareholders who wish to transfer their shares to anther party may do so by submitting appropriate transfer documentation in the usual manner to Computershare Investor Services in Vancouver or Toronto."

[oooff] 31/8/2018 18:12

Has anyone moved their Buchans holding to a different broker ?
I have an only remaining Buchans holding in an ex TD direct account which is now iii and costing £22.50 a quarter to hold.
It is the only holding. iii say they cannot move the holding as it is not listed.

[lendmeafiver] 31/8/2018 15:06

Completely agree keya, private placing was rediculous and unnecessary.

[keya5000] 31/8/2018 09:54

When I spoke to Danesh, I said what difference does it make what the 'market conditions' are when we have cash and will be getting a lot more cash soon. He suggested they wanted to raise further which I said was strange given the strong cash position.

Personally I do not accept the weak market conditions we had six months in h1 that perhaps gave the best opportunity for a metals play to be listed for several years.

I also sold the DALR shares when I got them so I am almost running free on the Buchans but I feel guidance giving was misleading and we need to push the company so they do not get comfortable of operating without a listing.

The option of a market to sell our shares in is essential.

[lendmeafiver] 31/8/2018 09:48

I read it as the dilution continues every quarter, I think that’s correct, did they really need to do the private placement, they have plenty of cash resources.

I sold my Dalradian Minco stock on the first day of trading so not impacted by the deal other than that held by Buchans.

It also seems surprising that now is a bad time to list.

[bodgit] 31/8/2018 09:16

lendmeafiver, the continuing dilution looks to be over 1 per cent each quarter, say 5 per cent per annum if the listing does not happen. What I have not found in any news release or elsewhere is if there was any date when the continuing quarterly dilution ceases in the event of no listing. Hmmmmm.

On a separate note, I assume the court hearing in Canada today will approve the Dalradian takeover. It still looks to be differential treatment of company directors and some major investors at the expense of other shareholders. I guess it is legal but it still seems morally wrong. Now lets see what the Canadian dollar / pound does and what exchange rate risks there are for AIM shareholders as opposed to TSX holders. That seems to be differential treatment too. Good luck all.

[lendmeafiver] 31/8/2018 00:37

What’s very irritating is the board undertook a private placement which included commitments that for each quarter we are not listed the rest of us get further diluted, given the cash and near cash resources of the company this private placement was completely unnecessary surely and is just resulting in continued dilution until they list which they now say they can’t, great.

[bodgit] 30/8/2018 21:58

Thanks bageo. Have skimmed the results and will read them more thoroughly when I can. I agree with the views of Buchans that the Dalradian takeover has deprived us of the long term potential in the shares while, presumably, enriching a select few who are keeping their Dalradian shares. It has an aroma about it. Shame about the delay in listing Buchans though happy to wait - I have no choice of course. Good luck all.

[bageo] 30/8/2018 19:34

Buchans half year report is on their website.

Unfortunately, throughout 2018 to date market conditions in Canada for junior exploration companies have not been conducive to an initial public offering of the shares of a new listed company and, based on advice from the Company’s brokers and financial advisors, it has been determined to postpone the planned listing of the Company’s shares pending more favourable market conditions. Nevertheless, it is still intended to list the shares of Buchans at an appropriate time, subject to market conditions.

As such, the arrangement with Orion whereby Buchans, and any Buchans shareholders still holding Dalradian shares, will be involuntarily cashed out of Dalradian and Curraghinalt is considered a disappointment by Buchans. & price which Buchans believes is inadequate and does not properly reflect the underlying value and potential of the Curraghinalt gold deposit.

[bodgit] 23/8/2018 13:25

I have just received my Dalradian special meeting instruction form via HSDL. It states on the letter "To be valid your instruction must be lodged with HSDL not later than 9am 23/08/2018"

As I do not have a time machine, I have effectively been disenfranchised. Hmmmm.

[steve36] 23/8/2018 12:13

The additional 0.1 of a share is for the private placement investors so not for all shareholders. My guess is they will issue these just before float when they know whether they have to issue 0.1, 0.2 etc

[lendmeafiver] 22/8/2018 23:23

I guess we are talking somewhere just north of 0.3CAD?

[bageo] 22/8/2018 19:49

If the additional 0.10 shares had been issued this would been on SEDAR - hence whatever the terms are the additional has not been triggered.

Calendar Q3 = Financial Q3 which would imply around or a tad later than end September - with no prospectus a bit after does seem more realistic.

[djb3] 22/8/2018 13:30

Well done Keya. I hope they give each shareholder the extra 0.10 of a share as stated in news on website dated 29/12/17. We are well past June 30th and this has yet to be mentioned by the company.

[bodgit] 22/8/2018 11:26

keya5000, thanks for that. Hope it happens as suggested by DV .... Good luck all.

[lendmeafiver] 22/8/2018 09:38

Good to hear, well done keya, listing after Dalradian conclusion probably makes sense also.

[keya5000] 22/8/2018 09:04

Spoke to Danesh yesterday, he said they are aiming for a relist by q3 end but it could drag on a tad later, said though it will be trading this year.

[ardtole] 22/8/2018 08:58

No. I didn't receive any papers yet either

[bodgit] 21/8/2018 13:21

Have not yet received any voting papers on the Dalradian takeover. Has anyone else here done so?

[bageo] 15/8/2018 07:41

Interesting. Buchans could take either currency depending on what looks best. Clearly spending a fair amount in Canadas so this might work best.

[bodgit] 14/8/2018 22:14

I note the following extract which appears at page 23 (of 156) in the 'Meeting Material' information being sent to shareholders. It answers my above question. Still wondering whether to sell now in the open market. Hmmmmm. Any thoughts anyone on that?

"The exchange rate that will be used to convert payments from Canadian dollars into U.S. dollars or British pound sterling will be the rate established by Computershare Trust Company of Canada, in its capacity as foreign exchange service provider to the Company, on the date the funds are converted. The risk of any fluctuations in such rates will be solely borne by the Shareholder. Computershare Trust Company of Canada will act as principal in such currency conversion transactions and may earn a commercially reasonable spread between its exchange rate and the rate used by any counterparty from which it purchases the elected currency."