Ridge Mining Share Discussion Threads

[mangotude] 17/3/2009 12:58

I'm certain we will hear from the DD review and offer first; it means unless there's a counterbid, AQP are almost guaranteed to get approval.

[perfect choice] 17/3/2009 12:55

It was a risk management call for me recompense. I could be buying back in at a later date or completely miss the boat, but either way I'm more into the cautious first camp right now untilm some of the risk factors are removed. Let's see where RDG stands after it has completed the financing and equity placing for the $40M required for Blue Ridge, owever we could here from the AQP/RDG due diligence review first and the final terms for the offer. I am attracted to the "discount" RDG has over the AQP price through the 2.75 to 1 offer but this may not stay as it is.

[mangotude] 17/3/2009 12:09

Proof really why markets will never be fully efficient, because intelligent people can take exactly the same information and have completely different views.

[recompense] 17/3/2009 11:55

Perfect Choice, I can't believe you've sold out when things are just hotting up. Not the time to to be second-guessing Ridge. The lack of cash won't mean a thing when the Aquarius deal goes through, and I believe it will along with a favorable refinancing announcement from AQP

[perfect choice] 17/3/2009 08:24

Hi laserdisc, good to see you're back. I'm watching from the sidelines now, still monitoring. I want to see what really happens with the RDG share placing which is required to part fund the $40M they now need to raise for progressing Blue Ridge to a steady state where cash flow can self fund operations, as requested by the banks. It is not just the uncertainty of the AQP acquisition which is hold back the price IMHO.

[murrayteller] 17/3/2009 08:22

wcj, it merely means we've all got a counterbid on our minds. That's surely what we're hoping for and what we deserve

[wcj] 17/3/2009 08:17

murrayteller
You're right - I am going blind.
It all goes to show that getting up early is bad for the brain, and that in times like these it much the best plan to stay in bed with the duvet over your head.

[murrayteller] 17/3/2009 08:10

wcj, I think I covered it:

5) Deal goes through, but long-suffering Ridge fans are rewarded as a bidding war breaks out?

[wcj] 17/3/2009 07:26

murrayteller

You're missing one:
6 AQP formally announce an offer and someone makes a counterbid.

[laserdisc] 16/3/2009 20:36

see we have another late trade
16:48 45.52p 110,000 £50,068 Buy OK
the 2 100k trades showing from fri were also code ok & seem to be buys
10 A30053YYU8 45.1 100000 OK 44.0 47.0 10:23:08

9 A30053YYTS 45.5 100000 OK 44.0 47.0 10:21:32

[mangotude] 16/3/2009 14:39

We're nearer the end than the start I think - I doubt it's due diligence which is holding things up; it's AQP's financing which is key. Once they get that, they announce, presumably the price goes up to at least the 191 offer, and we go from there.

[mangotude] 16/3/2009 13:03

I'm very cynical about the announcement Ridge made over financing - it would have been apparent some time ago that this was the case.

Can't help but feel it makes AQP's deal look much better than it is; and that RDG's financing will be announced after AQP's offer, if at all.

somewhat ironic for a company I accused of not using PR

[laserdisc] 16/3/2009 12:55

looks like the offer is based on rdg owning 39% of shebas. On consideration suppose aqp shares on the table are worth accepting, even if aqp does drop lower we should at least hold todays price in cash terms going forward . If things pick up some of the big companies may look over aqp i am sticking with it, as previously mentioned looks like a done deal providing aqp get finance.No doubt a twist will unfold on where zijin stand on all this

[murrayteller] 16/3/2009 12:10

Welcome back Laser, and I'm afraid I don't know the answer to your question. Are you still confident Ridge can go it alone? Don't you think they are up sh*t creek if they don't find a buyer now? IMHO BR is going to make NO money for a long, long time and Sheba is worth nothing with nickel prices as they are, so surely a buyout, even at AQP's level is fair? Ridge seems to think so

Meanwhile, where is everybody? Has everyone sold out - we're under offer don't you know?

[laserdisc] 16/3/2009 11:21

anyone know does ridge have to settle with anglo plat re shebas % stake before any takeover, or does the right to buy further interest continue with aqp may be using some hedge money for this
quote
"Following the completion of the bankable feasibility study, Ridge Mining's interest in the joint venture can acquire a further 22.5% of the project from Anglo Platinum on payment of a further US$12.5 million. On exercise of this option the JV partners interests would be Ridge 61.5%, IDC 26% and Anglo Platinum 12.5%.

[murrayteller] 16/3/2009 08:16

Well, we must be getting close to crunch time in this sorry saga. What's gonna happen?

1) DD fails, Ridge comes back to the market for more cash and share price drops to the high-teens, early 20s
2) DD fails and Ridge gets a Chinese co to take a stake and share price drops to high-20s-low 30s
3) AQP deal goes through, RDG tracks it for a while, then gets absorbed into the Aquarius ether
4) Number 3, but AQP then gets taken out by a major (for the positive among us!)
5) Deal goes through, but long-suffering Ridge fans are rewarded as a bidding war breaks out? (for the really positive among us!!)


I sincerely hope it's not 1 or 2, but Ridge has a habit of disappointing

[mangotude] 15/3/2009 20:00

Welcome back laserdisc.

[laserdisc] 15/3/2009 19:18

he Who Dares Wins i hope this is not a dream

[sadoon] 15/3/2009 19:12

Laserdisc has returned.

We are the Pilgrims, master; we shall go
Always a little further: it may be
Beyond the last blue mountain barred with snow,
Across that angry or that glimmering sea,
White on a throne or guarded in a cave
There lives a prophet who can understand
Why men were born: but surely we are brave,
Who make the Golden Journey to Samarkand.

[laserdisc] 15/3/2009 18:38

Thankyou all for your comments its nice to be missed, returned from hols, see we have had 600 posts over the last month. There has been plenty of action here, interesting a lot of the main bb posters have sold out.
Still holding mine & just in 6 figs not as many as mango! have been building up this stake since 2002 & was hoping for 100p still think it may be achievable in 2010
It might not all end in tears richgit i have the same sentiment as yourself & others,not pleased with the present offer, does it reflect any value for shebas ?i realise it needs a massive amount of cash to get it up & running but it would make a profit if nickel alone stayed above $4-50. No doubt our fate will be known soon,
good luck to all who have stayed on board

[monhearme] 13/3/2009 12:36

hmm....some 100k trades gone through this morning followed by a tick up in sp

a month now gone since proposed aqp takeover news.....patience

it's so quiet here....where's Laser?!

[mangotude] 12/3/2009 14:25

I hope I'm wrong, but I feel the speculation is by financialmail only.

[johnmp] 12/3/2009 13:52

Platinum is on Beijing's radar screen because it is used to reduce pollution from cars. One of China's biggest gold-miners, Zijin Mining, owns a fifth of Ridge Mining's stock.


Ridge will start producing platinum at its Blue Ridge mine on the eastern limb of the Bushveld Complex in March.


While Ridge is in talks to merge with Aquarius, speculation is a Chinese company might step in and buy a stake in Ridge.

[mangotude] 12/3/2009 12:01

Missed this article:

Ridge will start producing platinum at its Blue Ridge mine on the eastern limb of the Bushveld Complex in March.

While Ridge is in talks to merge with Aquarius, speculation is a Chinese company might step in and buy a stake in Ridge.