Nyota Minerals Share Discussion Threads

[rougepierre] 14/11/2013 10:47

I wouldn't be surprised if CEY have been dumping all morning. Maybe either the fait accomplit has ended their interest or they are hammering the price preparatory to a bid at not much more than 1p?

What does anyone else think?

[yorgi] 14/11/2013 10:41

Weegeordie interesting thought, I would have thought that could infringe rules somewhere and get them in hot soup but interesting thought none the less.

[weegeordie] 14/11/2013 10:39

as far as we know - yes. There hasn't been another holding RNS since the 5th.

[cinquepercento] 14/11/2013 10:37

To Weegeordie and other forum members:
I am not any sort of expert but it also occurred to me that Centamin might be selling their shares to themselves via some sort of holding company.
Perhaps they were just trying to scare the price down as I think has been suggested here by various members of this forum.
Look at the trades on ADVFN now: 9.69 million buys and 4.545 million sales so why is the price staying down instead of going up with this good news?
Is this the licence that the deal was dependent upon?
As far as we know, Centamin are still holding 14.5%, is that correct?
In theory, perhaps Centamin could now wait for a price increase tomorrow and start selling the rest of their shares for a better price.
Tomorrow should be interesting.
Cinquepercento

[weegeordie] 14/11/2013 10:25

I still cannot understand the logic behind CEY selling some of their stake - we have come up with various scenarios but I have just thought of another slightly off the wall possible twist.

Suppose CEY has set up a shell company which has bought the shares CEY has sold but kept below the 3% so that they do not have to report. Could that small company be used in a reverse takeover?

[moreforus] 14/11/2013 10:24

nerves eh!

blue to red

tomorrow - if he's voted out the market will like it? if he stays the market will like it?

[s0rayad] 14/11/2013 10:16

despite their selling, they still hold a substantial amount of shares.
stranger things have happened. we just have to look through-out the aim market how many companies have been hijacked by 'institutional' (i.e major share holders) investors

[jane downs] 14/11/2013 10:06

@ZaksTradingCafe Nyota Minerals: Tulu Kapi project gets boost with exploration licence renewal

[64bit] 14/11/2013 09:44

i would expect that CEY would need to demonstrate they had sufficient
shareholder approvals to support their motion.. their selling down of
position recently would indicate otherwise i would suggest.

[s0rayad] 14/11/2013 09:23

Yorgi,

yes, CEY called for the meeting. and we know that they want RC head on a plate. but they are not the only investors in this share. surely this is a matter to be put to all shareholders for a vote. but maybe i am running ahead of myself, and nothing will be put to the vote on tomorrow's GM.

[yorgi] 14/11/2013 09:17

Just look to what the meeting has been called for !

[jane downs] 14/11/2013 09:16

Nyota Minerals' (LON:NYO) flagship gold project got a further shot in the arm on Thursday - as the Ethiopian authorities renewed its exploration licence.
The renewal for the Tulu Kapi projct runs until May 26 next year and is granted on the basis of a satisfactory performance during the past year and approval of the work programme and budget for the next.
As previously reported, Nyota confirmed plans to sell 75% of the project to a new partner, which will manage the work programmes at the project.
In return, Nyota will receive £1mln of cash and £3.5mln in shares, and it will retain a paying 25% interest in the project.
On Thursday, the firm said negotiations with the partner were progressing constructively and documentation is in a near final form. It remains subject to conditions, including the partner completing its fundraise.
Chief executive Richard Chase said: "Confirmation of the approval of the Tulu Kapi exploration licence by the Ethiopian Ministry of Mines clearly demonstrates the continued goodwill of all parties to achieve a successful outcome to negotiations with our new development partner and the advancement of Tulu Kapi towards gold production.
"I look forward to providing further updates regarding negotiations with our new development partner and the Tulu Kapi work programme in due course."
The identity of the buyer, described by Nyota as a "junior exploration and development company listed on a regulated stock market", remains a secret.
Nyota has said this is for commercial confidence and to mitigate the risk of the sale not proceeding.
More follows.....

[s0rayad] 14/11/2013 09:11

as per the general meeting tomorrow, very little information has been released at to the minutes of the meeting.
nowhere does it mention that anything will be put to the vote....
all a bit confusing.
help, anyone?

[64bit] 14/11/2013 08:34

i'd be very surprised if RC is removed tomorrow. where no vote is received
from the party holding that right it would be cast in line with the boards
recommendation etc..
wish i was able to attend the meeting, do we know anyone who is ?

[moreforus] 14/11/2013 08:24

yes but vote tomorrow....

[s0rayad] 14/11/2013 08:14

a very welcome development at long last (RNS).

well done RC!

[courty2] 06/11/2013 22:04

Dont make sense, why reduce your holding and also voting rights when they want the boss man out ????

[enfranglais] 06/11/2013 15:42

Well, CEY have written down their holding in NYO by $11.917m 'due to the continued reduction in the Nyota share price'!!!
I wonder what caused that & the 5% plus reduction in their own share price today - that probably amounts to more than the total m. cap of Nyota now that they have stuck the knife in!!

[rougepierre] 05/11/2013 18:01

Just to be clear, Smythy4 has today alone "cut and posted" the same message on 15 separate stocks:

AEO PAR BOD WAS NEOS TALV SOLG IQE AGQ CMI RBS ATC BMN RSA and NYO. In fact he can't even remember what he does because he did it twice on AGQ.

PAID DERAMPER alert.

Here is the evidence:



smythy4 FILTERED

[rougepierre] 05/11/2013 17:49

For every seller, there is a buyer...the MMs don't run big positions, so somebody has been buying those shares...

[pathai3] 05/11/2013 13:04

NYO guys massive premiums on ISDX

Key info
ISIN AU000000NYO7
Symbol NYO.GB
MiFID Status MTF
Please see Primary Market for more information.
Latest Trades
05/11/2013 13:02 831,521 @ 0.782
05/11/2013 13:01 649,688 @ 0.77
05/11/2013 12:59 167,252 @ 0.69
05/11/2013 12:11 366,506 @ 0.693

[lucky punter] 05/11/2013 12:20

There is already a deal on the table valuing the company at £6m. That is the best case outcome. The new buyer has now advanced NYO cash. If DD is not passed then NYO will be in administration so a risked cap now should be about 3-4m. CEY are not just selling shares they are reducing their votes so the challenge on Richard Chase can be seen as abandoned by CEY. It will still go ahead.
Whilst the challenge is in place NYO cannot complete their sell-out hence why CEY put the action in place.