Ridge Mining Share Discussion Threads

[perfect choice] 26/3/2009 12:56

I bought 30K bought this morning as posted earlier. I was lucky since working from home today so was online at 8am, could have easily missed everything. At least I'm in again, not as much as before and at a higher price than what I sold out at, so a wasted effort. But in profit at least now on this trade and that is what counts these days!

[murrayteller] 26/3/2009 12:46

I truly hope PC got back in in time.

[the metal man] 26/3/2009 12:21

Zijin can play hardball. They don't want dilution on a long term investment that will ultimately make them a good profit whilst securing a decent volume in a range of commodities for years to come. I think Mangotude could be right in how the issue would be resolved (and more than likely there is already outline agreement), however, it is SR that is their main interest and that could preclude the bonds/rights issue option.

[mangotude] 26/3/2009 11:58

Only other option I can see is perhaps Zijin can lever their approval to get a good deal on AQPs bonds/right issue.

[pecker1] 26/3/2009 11:55

So Zijin keeping its options open on RDG - not surprising. RDG remains in play.

[the metal man] 26/3/2009 11:32

It would appear to be a bit of a clanger.

Did anyone short AQP when they peaked earlier? I must admit I had my eye off the ball this morning, that was a missed opportunity!

[mangotude] 26/3/2009 11:19

I don't get that. Why would such an enormous mistake be made?

20% shareholder and it was clear they were meant to be in the original.

odd.

[silverfern] 26/3/2009 11:00

"For the purposes of clarification, further to this morning's announcements
regarding the Possible Offer, Aquarius Platinum confirms that an irrevocable
undertaking has not been received from Gold Mountains (H.K.) International
Mining Company Ltd (a wholly owned subsidiary of Zijin Mining Group Co. Ltd.). "

[mangotude] 26/3/2009 10:46

well done mt - i built a spread bet position the past few days and have sold off a little of that for similar purposes and to get ready if and when i decide to jump ship.

fun day so far. see what the afternoon brings.

[murrayteller] 26/3/2009 10:28

Well Mango I've done it. I've pressed the sell button on RDG for the first time ever. 800 "loose" shares will pay for the red wine I will quaff till this ordeal is over. Still got 325k to enjoy the ride.

Looks like the tables have turned and people are beginning to realise how big a coup for AQP this is. Zijin may be useful after all

[ad1967mc] 26/3/2009 10:12

To me it looks like AQP is being short squeezed. The views concerning their ability to refinance were far too negative. The proof in the pudding will be whether the gains can be sustained over the next week or so.

[laserdisc] 26/3/2009 10:11

yes if aqp keeps rising to say £2-50p which is not unrealistic would be happy with the deal we wait for further news off out now so no more posts from me today

[silverfern] 26/3/2009 10:03

AQP now up more % terms than RDG - I think we can see who has thad the better of this deal!. Of course rdg should now move up...

[doshdabbler] 26/3/2009 09:37

If it goes through, does that mean AQP would be practically debt free?That's a lot of dough and I suspect Zijin will partake of the placing

[laserdisc] 26/3/2009 09:22

Plenty of volume on aqp zijin may be taking up some of aqp rights issue but as things stand its not getting a large % of aqp

[mangotude] 26/3/2009 09:20

I would guess so too MT; weird that they would screw up the irrevocable bit with zijin. Perhaps they're waiting to see if anyone else turns up.

Don't see why they should commit when AQP isn't yet.

AQP testing 200

[silverfern] 26/3/2009 09:19

AQP just broke 200p; as things stand that implies a value of 72p for RDG.

[murrayteller] 26/3/2009 09:18

Would certainly be delicious, but I'm sure Zijin is in on it and plans to take a bigger stake in AQP. It's clearly been advised by Ridge, since after Monterrico, it's probably lost its nerve to go it alone

[silverfern] 26/3/2009 09:12

It is an implementation agreement in regard to the acquisition that is to be made after hours today. THat will take into account a fund raising by AQP which will increase the number of shares in issue. THe new ratio will therefore also be announced after hours today.

[mangotude] 26/3/2009 09:10

Wouldn't that be delicious?

[laserdisc] 26/3/2009 09:09

could be a further twist in all this, deal will not go through without zijiyn accepting. Could zijiyn finally make a swoop & buy rdg for cash

[mangotude] 26/3/2009 09:08

thanks - I thought that, but this comment threw me

wcj - 26 Mar'09 - 07:57 - 14579 of 14601

It seems to say the formal offer will be made after trading today, subject to AQP formally fixing financing, and that 32.7% are irrevocably voting for, including Zijin and the Ridge directors.

[wdurham] 26/3/2009 09:06

Yes, Mangotude.

[mangotude] 26/3/2009 08:57

Am I right in thinking that they aren't even going to make a proper offer until May?