Mwana Africa Share Discussion Threads

[taxibabe] 21/7/2015 12:16

I think they maybe a legal requirement as long as the listing exists. In three days the announcements will end and that will be that until 30 days later. Thereafter, its one more announcement to tell us that the stock has formally de-listed from AIM. Yawn

[redtrend] 21/7/2015 11:58

Was the reason for those delistings bankruptcy or some other reason? It makes a huge difference and just because a company delists it does not mean your shares suddenly become worthless. Less liquid sure.

Why are they bothering to issue updates putting a positive spin on the company if they want to force shareholders out and the share price down? Some of these theories make no sense.

[juju44] 21/7/2015 11:54

Haven't a clue really but it sounds aggressive.

[greedfear] 21/7/2015 11:41

You know very well what I mean. Enough said.

[greedfear] 21/7/2015 11:38

I have no position, so not waiting for a bounce. Had the "privilege" of being a "victim" of numerous delistings. Just want to make people aware of THE risk of a delisting. It's there. In general larger share holders are not your friends and focused on how they can get THE maximum out of the situation (aren't we all?).
Too many red flags here.

[juju44] 21/7/2015 11:29

Which one ? I hold some of these

[greedfear] 21/7/2015 11:28

Do you ever ask yourself that question?

[charles clore] 21/7/2015 11:23

juju - I bet they are hanging on hoping for a bounce when the (sorry IF) new NOMAD is announced this week. If I held these you wouldn't see me for dust!

Lucky are you still in this or have you seen some sense and returned to STI??

[juju44] 21/7/2015 11:16

Thing is , if you guys are out why are you posting regularly here ?

[taxibabe] 21/7/2015 11:10

I agree greed and fear I do not think there will be a nomad appointed out the timing is just too close. A nomad should have been appointed before peel hunt gave notice, and certainly within a few days of it if it were that simple. Why no nomad who knows, maybe its corporate governance issues, perhaps something else. But clearly no-one is rushing to take the job on.

[greedfear] 21/7/2015 10:52

I strongly believe it will delist. There is no reason for the Chinese shareholders to continue being listed. It's costly, all kind of rules that have to be folllowed, it's a nuisance. Once delisted it's easy to do as you please and take out what you want. Justification being that the company would probably not exist today if THE Chinese had not invested. And the market is saying that the whole lot is worth less than the Chinese parties invested.
Wake up! Lawsuits, divesting shares to an another Chinese party, suddenly worried activist minority shareholders calling for an EGM ( never head from them since), CEO discharged, nomad resigning, possible delisting ....
Someone is going to lose his shirt here and it's not going to be the Chinese parties I predict.

[asmodeus] 21/7/2015 10:38

This what the 26th June message said: ".....if a replacement Nomad is not appointed by the date( 25th July) that Peel Hunt ceases to act as Nomad, the Company's shares will be suspended from trading on AIM, and if a replacement Nomad is not appointed within one month of the date that Peel Hunt ceases to act as Nomad, admission of the Company's shares to trading on AIM will be cancelled." So I am trying to find out from Peel Hunt what progress is being made. (Matthew Armitt/ Ross Allister 020 7418 8900). Waiting for call back.

[redtrend] 21/7/2015 10:21

True you may be able to buy out the balance on the cheap, but it's a huge gamble for a major shareholder and they could lose everything with the Authorities getting involved and taking it all. We have seen the Zimbabwe Government's concerns already with the news on Friday - which is why I actually saw that news as a good thing rather than bad, to keep the new board in check if they did have such desires.

Mpinga and Ning appeared to have had major differences in terms of how to manage the company. As an example, Ning wanted Chinese companies to perform the smelter refurb work, whereas Mpinga went for the South Africa option with lots of consultants on board. Without knowing the specifics I wont comment on what was really the best course of action, but to think Ning and the new board forcing out Mpinga is some nefarious plot to de-list is far too simplistic.

On other news, China imported the most nickel in June since July 2009 - importing 38.5T. Does this now mean domestic supplies are exhausted and the LME inventories will start to fall to compensate?

[juju44] 21/7/2015 10:13

Yep , if they are honest then there should be no problem . Are they honest ?

[skidaddle] 21/7/2015 10:04

The easiest way to shut people up is to sign up a new Nomad.

Hardly that difficult if things are all in order and something that should have been considered as a possibilty by the new management from the outset.

That is of course if they are genuine about keeping a listing.

[thecynical1] 21/7/2015 09:42

scaremongerimg if you ask me anything...........

[juju44] 21/7/2015 09:34

Lot of punters inferring they know things here when they dont. The fat lady hasnt sung yet and this is hardly behaving like a company planning to de list

[gfrae] 21/7/2015 09:31

A de-listing would be of interest if you wanted to buy out the balance of the company that you don't own as cheaply as possible.

[redtrend] 21/7/2015 09:03

Maybe because they don't plan to delist as it is in no one's interest, therefore this information is useful to all shareholders and potential future investors if a new Nomad is appointed.

So if you are still holding out for a new Nomad then this is a welcome update, particularly as there is an update on the smelter that addresses the gossip in the press that the refurbishment was put on hold, which appears to not be the case but has been delayed to April 2016 for reasons specified in the update.

[trevorm2] 21/7/2015 07:48

Why do they even bother to release this?

[apfindley] 21/7/2015 07:38

Binaura financial results are meaningless to the market if mwana is no longer to be listed.

[preflp] 20/7/2015 21:13

I don't know much about this stuff, but I read recently that China are looking to build their gold reserves big time - maybe stealing this company will help to achieve that goal!!

[trevorm2] 20/7/2015 20:30

Whatever happens here mwana is going to run out of money soon anway. Kalaas costs were far too high. Gold and nickel hemorrahaging. Cash balance nearly gone. Good luck to the new boys they will need it.

[asmodeus] 20/7/2015 20:17

Changed my mind - have sold half.

[apfindley] 20/7/2015 19:26

GfraeThe chinese were paying. Quite clearly.They used him to pretend that he was so concerned by his own losses on the underperforming (shareprice), and that his fairly small holding was supposed to be blah blah his kids inheritance or whatever he said when he phoned us all. The guy was supposed to be a lawyer/barrister yet was bothered about losses on a holding of less than 1/4 of mine.I never bought the story, and was very clear i was in total support of Mpinga. But this was never about putting a couple of fresh directors onboard to revitalise the company. It was an exercise to replace the (non chinese) board members, and to force the africans and Mpinga off the board.Who was it who had disagreements with the board.....of course, it was the chinese. They forced this and used their holdings, plus the extra 10%+ dearing scrambled together, to combine and vote their resolutions at the egm. Will a new nomad be appointed? Who knows, but we dont have long to find out. I suspect there is no intention of coming to agreement with a new nomad, the clock is ticking. Funny to think that not many months ago i had over 100 grand invested here, but this whole dearing charade never felt genuine.Are we now seeing the true motives coming out, by delisting and taking this company private, for the chinese to run it exactly as they want to?