Nyota Minerals Share Discussion Threads

[cinquepercento] 28/10/2013 07:59

Enfranglais.

All of this message below is just my thoughts and opinions.

I have to say that I think that all the information so far points to R.C giving priority to protecting his and his colleague's jobs at the expense of the shareholders. I have suggested this earlier.
He has in effect scared off Centamin which is a debt free ,cash rich solid investor to choose a small player who may or may not come up with the deal.
He has taken this desperate measure with the intention of blocking Centamin from pushing him out of NYO.
People often do this.It is called self preservation.
Why did the B.O.D allow the company to get into this financial situation in the first place?
Why did Centamin get involved in this company?
Why did they show their hand too early by asking for the dismissal of R.C?
Members on the forum have said that Centamin know exactly what they are doing but people make mistakes.
Where do we go from here?

[spartikas] 27/10/2013 19:58

very dissapointed in the deal, the amount of money spent on drilling and DFS and we end up selling 75% of TK to a junior who needs to raise funds......to make matters worse we pi55ed off a major shareholder who is out to 5crew us......where is the shareholder value.....sack the BOD.

[code677] 26/10/2013 14:15

As the offer is 'non binding' means we could well get another one before 15th November

That's not correct, 'non-binding' means offerer has no obligation to conclude the deal

The party providing NYO a six-month loan have been granted 'exclusivity' on the asset for the length of that loan so by definition no other party can enter into talks (the loan is secured over the Tulu Kapi holding company)

[enfranglais] 26/10/2013 13:42

steve - in a tsunami, it pays to remain afloat & that is what Chase has managed to do!! As the offer is 'non binding', it also means we could well get another one before the 15th of November - roll up, roll up, cheap Gold assets for sale £10m or higher offer - pretty please!!!!

[steve1905] 26/10/2013 13:36

In a Tsunami it pays to grab what you can

[khaledibn] 25/10/2013 23:27

Twitter rumour - TVZ"Rumours in Canada that Sunwing, which has JV with TUI Travel, is in detailed talks to acquire itravel2000 from poor old embattled Travelzest"Interesting !!!

[lucky punter] 25/10/2013 17:41

One thing we know for sure is that Richard Chase is on his way out, that is if any of the three possible outcomes delivers.
I get Dusseldorfs point that the Company will have £3.5m worth of another company yet to be disclosed however what are NYO going to live on. They will be required to fund 25% of the work on TK which I would suggest will be more than the £3.5m. The other fact is that the exposure to the other company could simply be purchased on the market if that is what NYO investors want.
There is no doubt in my mind that NYO are doomed to administration or to a slow and painful decline.
Due Diligence will likely take a month or more, I wonder where the shareprice will go between now and then. I suspect below .4p.

[dusseldorf] 25/10/2013 17:37

5huu - there is no doubt this has been mismanaged and no doubt people inc. me saw CEY as a short term rescuer, however, the time to speculate on NYO is precisely when they have finally come to value on the assets and finally identified a partner, got more working capital and are on the cusp of getting Government buy in to the project?

ask yourself looking at the chart, if someone like me who believes they will survive, when the best time to buy stock in the company is - 0.1p here or there is irrelevant if they survive. I'd say it's right now...yes it's a bit of a gamble that due diligence doesn't throw up a spanner, but with rising gold the project will become even more valuable, indeed it could multiply quite quickly.

[5huu] 25/10/2013 17:28

Dusseldorf, If thats how you perceive that transaction will work, then good luck. I'll save my breath and wish you all the best with your investment in NYO. You really should though be open minded to the views of others. There are many here (me included) saw NYO as an investment with huge potential at one time, but sadly it has gone. A few saw CEY as riding to the rescue, but even they didnt. That should tell you something. LP has put a figure on the risked value of NYO and IMO even he is being generous. NYO has been grossly mismanaged. Its options now are very sadly limited. If you really want to speculate, then identifying the partner and seeing what they will get for their money would be a far better way.

[cinquepercento] 25/10/2013 17:01

This whole NYO saga is reading more and more like a suspense thriller with many different endings being proposed here by all the thinking minds on this forum.

This is a real" Do you feel lucky?" situation.

We have the worst scenario endings and the best endings.

The suspense is almost worse than the thought of all the money I will be losing if NYO goes under. Almost.

Do we hold or fold? A bit late now for me.

Cinquepercento

[induna123] 25/10/2013 16:31

yep, buys at the close pushing the share price up. Could open up 0.70/0.75p monday.

[induna123] 25/10/2013 16:27

I just get the feeling this drop is overdone and will bounce back to 1p.

[dusseldorf] 25/10/2013 16:27

lucky punter - not sure I have an agenda. I've clearly stated several times on the other thread that I have been buying NYO stock - you on the other hand?

".4p as a risked value seems appropriate for what will be an investment shell in due course but the share price will go below that in the short term." - really? on what basis

BAM BAM Rubble - based on a £10m market cap for a mining junior 25% will be the no. Indeed they may be bigger than £10m but I doubt it.. As an investor in NYO it's the figure I'm working with until informed otherwise. FYI that came from review of two likely candidates in Aus and Canada

[bam bam rubble] 25/10/2013 16:24

This site; hxxp://www.goldval.com/junior-companies/ deems a junior as 'market cap of sub-£300m (C$500m)'

What you are describing (c.£10m) is a microcap. I'm not sure the Ministry of Mines would be that willing to approve transfer of control/operatorship to such a low capitalised outfit

[yorgi] 25/10/2013 16:17

CEY first built confidence up here and now they had done the complete opposite but whichever way one looks at it TK is worth more than the present market cap of the company. Whether we will see that is another matter but we may well see some twists and turns before the outcome is clear.

[dusseldorf] 25/10/2013 16:17

5huu - I appreciate that, but I'm inferring that a 'junior' minor has a market cap in region of £10m - after funding and equity issue this will leave NYO with circa 25% of their equity in shares + the 25% in ltd they hold already. It may not be 25% dependent on the size of the other co. but Junior infers they are a tiddler

[5huu] 25/10/2013 15:39

It says 25% of the subsidiary, not the partner.

[5huu] 25/10/2013 15:36

Dusseldorf I suggest you read the announcement again.

[teemore] 25/10/2013 14:44

It would have been better if NYO got no cash as the have a history of eating up large sums of cash without doing very much except paying themselves. In my opinion it would have been better if CEY had taken over the company and rid themselves of most of the NYO management. I hope for the sake of all of us that I am completely wrong.

[lucky punter] 25/10/2013 14:22

BAM BAM Rubble 25 Oct'13 - 14:07 - 3617 of 3618 0 0


Where does it say "25%+ of the partner"? Looks like a made-up statement
The RNS just says £3.5m in shares. Impossible to work out the percentage interest
Doubt the sale will go through in any case, as why take on such an economic asset

BAMBAM. I THINK IT IS CLEAR THAT IT IS 75% IN EXCHANGE FOR £1M CASH AND £3.5M IN SHARES. IT IS STATED IN THE RNS.

Structure of the Sale
The Heads envisages the Company selling 75% of the Subsidiary to the Partner, who will assume board and management control of that entity. The Company will maintain a 25% shareholding in the Subsidiary and will be required to contribute to the funding of the Subsidiary's exploration activities (in proportion to its pro rata shareholding), save that it will not start contributing to such funding until the Partner releases an updated Mineral Resource statement in respect to the Tuli Kapi Gold Project (which is expected to be issued within six months of the Sale completing).

[lucky punter] 25/10/2013 14:18

Dusseldorf that is 100% to 25% for just £4.5m. 5huu's post makes perfect sense but I accept does not conform to your agenda.
The reality however which you are ignoring is that NYO will have to fund 25% of ongoing work and will ultimately have to sell some of the £3.5m in shares to survive. This is the best deal available the flip side is if TK does not pass DD then there is the adminstration to consider.

[bam bam rubble] 25/10/2013 14:07

Where does it say "25%+ of the partner"? Looks like a made-up statement

The RNS just says £3.5m in shares. Impossible to work out the percentage interest

Doubt the sale will go through in any case, as why take on such an economic asset

[rougepierre] 25/10/2013 13:43

All good news then...thanks DD...