Noventa Share Discussion Threads

[donaferentes] 08/4/2013 12:35

I don't the think the new tax year - relevant for individuals, but not companies - has any bearing on the matter whatsoever.

This is now a pure play for those who make money out of money and is not for investors. It's no better than a rank outsider over the sticks - it's always possible, in our dreams, that the favourite will land badly at the last, but very unlikely in reality.

[jojo_jo] 07/4/2013 13:42

New tax year could bring some very interesting 'creative accounting'!

IMPO/DYOR/NAI
Jo

[john6185] 06/4/2013 09:18

I happen to know that there is a precedent for something similar.

A company called Polyus Gold which is listed on the LSE did a reverse takeover of its parent company Kazakhgold



There is loss that could be offset, but its corporation tax in Mozambique.

I have no idea what it possible, but a reverse takeover of Noventa would deliver some shareholder value .....but it's a bit murky

[b1llyboy] 05/4/2013 23:52

I quite like the ideal of cleaning up NVTA sticking it on a shelf somewhere.

Strip out the assets and stockpile from HAMCL,leave it with debt,wind it up and write off the debt,put a big red ribbon around it and stick it on a shelf.

Transfer the assets and stockpile to HAMCM and reverse it into NVTA.

Richmond offset bad debt against tax and insurance claim.

Begin processing Morrua ore in new plant.

May explain why Morrua resource update has not featured, at all in all this.

Also the price backed off when it touched the issue price 0.8p.

I think it was most likely short covering,but why they were spooked to buy,we may well find out next week.

[jojo_jo] 05/4/2013 17:17

Clearly affected by the broad market malaise this afternoon, especially following the below expectations US jobs data today.
The FTSE 250 is down 2%, so no complaints.

So 12% up on a day like today is a great result. It draws a line in the sand under the share price, and points to 'goings on' behind the scenes.

IMPO/DYOR/NAI
Jo

[jojo_jo] 05/4/2013 13:06

New (business) tax year starts Monday. It would seem the sensible time to start or re-start a business here.

IMPO/DYOR/NAI
Jo

[falia] 05/4/2013 11:27

NEWS OUT VERY SOON

[jojo_jo] 05/4/2013 11:23

Another far fetched theory...
Could Richmond have done what they did for tax reasons? Ie. Lock in a big tax loss before year end? It could have saved them a bundle. I'm no corporate tax expert or accountant so can't be sure, but it fits.

If that were the case they could reverse HAMCM back in here sooner than we think.

Either way something's happening, and somebody knows.
We're on a tear!

IMPO/DYOR/NAI
Jo

[b1llyboy] 05/4/2013 11:16

I'm near parity,could be RNS due out regarding financial status/options.

Could be short covering.

[jojo_jo] 05/4/2013 11:14

Moving up strongly for some reason.

Is the 'game afoot'?

Strategic investor first... RTO further down the line.

Interesting times ahead.

IMPO/DYOR/NAI
Jo

[devil20] 05/4/2013 11:13

Blimey...what gives?!

[tomboyb] 05/4/2013 09:58

Looking strong L2 2v1 now -

[tomboyb] 05/4/2013 09:57

If so - could really break upwards - 150k just gone through -

[jojo_jo] 05/4/2013 09:54

Perhaps we have got a new 'strategic investor'? That's nearly always the precursor to an RTO.

Beginning to look interesting again.

IMPO/DYOR/NAI
Jo

[tomboyb] 05/4/2013 09:47

MMs offering 250k max today - big climbdown on limits -

[b1llyboy] 04/4/2013 23:20

Jo..............Not so far fetched at all,as a rear guard/fall back position.

After all small resource Co's are falling like nine pins and China is forecast to shrink its economy over the next year From 10% growth to around 6% for the next decade,in a bid to create a soft landing and avoid civil unrest.

Expect more of the same from a lot of small resource Co's struggling to sale their wares due to collapsing markets.

Vale,BHP et al,have all written down assets/profits due to collapsing demand.
What chance have small operators got,although there will be exceptions to this.

Mind you if the yanks and tiddly winks start chucking newks at each other.That should improve demand,sooner or later,maybe later.

Just my Two penneth.
Time for me to retreat back into my shell.

[john6185] 03/4/2013 20:07

coolen:

I did find the rather desperate action to gain £434k from the Darwin subscription was interesting and in the light of events an odd move. Why bother?

Mr Hunt is an Investment Banker so hopefully he has a few financial tricks up his sleeve that may deliver some value.

Real question of course now is whether buyers emerge for the upcoming auction. The sales agent is to be announced this week, so that will get the ball running.

This is not an exploration phase project, but transitioning from development into production. Priced at bargain, with in theory the most expensive phase (development) nearly complete. Set in a back drop of 50% shortfall in global supply of circa 3.3m lbs feeding increasing annual demand of 6-7m lbs. Still a critical metal with no substitute, and not one new mine has opened in the last 5 years. I do hope there is genuine value there and a competitive auction arises.

A lot of big mining companies are piling into Africa because of the low costs of production. Bring on the boys like Glencore who have plenty of cash on hand.

At this point I just want to see a genuine auction taking place. If no-one really fancies it then fair do's.

[jojo_jo] 03/4/2013 10:34

Agree coolen. There is another major barrier to 'tax loss buying'... the company being bought has to be still substantially trading.
Anyway perhaps HAMCM, the decoupled trading subsidiary, has retained the carried tax losses for itself?

I know it's a bit far fetched, but perhaps Richmond intend cleaning HAMCM up, returning it to efficiency and profit and then reversing it back into Noventa again, for an LSE listing, in the future? They are still the major shareholders here, in Noventa, and own HAMCM outright, privately now. No reason why they couldn't bring it back here in the future, keep 70% for themselves and raise £10m in working capital in the process.
Nah... too weird to contemplate. Sorry.

IMPO/DYOR/NAI
Jo

[jojo_jo] 02/4/2013 20:05

john,
if like you say they wouldn't have been liable for corporation tax through being Jersey domiciled it's all academic.
Jo

[jojo_jo] 02/4/2013 20:00

It has to be in mining/natural resources. Actually the 'same business' hurdle is quite a reasonable/easy on.
If a 'reverser' was going to step in, the best fit would be a private company worth perhaps £20m on paper, listed at a discounted value of, say, £10m. Half staying in the reverser's hands, 30% being placed for working capital (£3m) and the remaining 20% staying with existing Noventa shareholders.
If it re-rating a few months after listing to nearer its private company valuation of £20m, existing shareholders' stake would be worth £4m.
A profitable 'reverser' could then take full advantage of Noventa's years of tax losses, and not pay tax for several years.
Only works for profit making private companies in the same broad sector.

IMPO/DYOR/NAI
Jo

[john6185] 02/4/2013 19:56

solarno: apologies .. get your point .... but all academic now

[john6185] 02/4/2013 18:37

Na, reverse takeover is used to get past that ........BUT


it was a great plan until I found out that you don;t pay corporation tax in Jersey, so can't offset you tax losses ...... bummer ... .

no corporation... learn something new every day :)

[solarno lopez] 02/4/2013 07:36

It has to be in the same business to re-coup tax losses so not as guaranteed as you might think