Setstone Share Discussion Threads

[davew28] 28/4/2005 13:45

mdchand,JD,

Can't remember exactly, but I seem to have a figure of 500,000 ozs in the current producing mine. I think they have or are acquiring 3 mines, one of which is partly owned by the new Government. Not sure on the status of the other mines.
dave

[fatnacker] 27/4/2005 21:32

john I seem to remember $250 an ounce being talked about somewhere on the boards but that was some time ago and I,m not sure about the geographical location ,

[johndavison] 27/4/2005 19:53

davew28/nobby/anyone

Any ideas on the cost of getting the gold out of the ground, it would be nice to check that against the cuurent gold price just to see what sort of margins we are talking about.

[doorway] 27/4/2005 18:01

whatever.........if this comes back it should be at a nice price

[mdchand] 27/4/2005 16:19

davew28 - are you in a position to give more details on the mine in terms of mineable gold ounces or indeed, just how many mines are under negotiation?

[davew28] 27/4/2005 12:55

Thanks for the info Nobby. When Olwyn told me a couple of weeks ago the size of the mine I was astonished. I think he mentioned enough Gold for 20 years, and that was just the one mine. The great thing that he also mentioned is that they would be acquiring the processing plant (I think it is cyanide) as part of the purchase which means they will realise the full value of the Gold. This would save a considerable amount. I expected dilution, but not so sure about consolidation. Anyone know the number of shares/convertible warrants in circulation prior to the suspension?
Cheers
dave

[johndavison] 27/4/2005 08:36

Cheers Nobby. I try not to contact the company as I'm sure they have work to do and that many other shareholders will be aksing the same thing - thanks for the info.

[fatnacker] 27/4/2005 08:27

wonder what the ipo price will be ? any indication nobby?

[nobbygnome] 27/4/2005 07:49

>> JD

Peter said that they should announce the purchase of the mining company shortly. Once that is done then all paths led to the IPO.

Nobby

[johndavison] 26/4/2005 22:58

Sharecropper, I also asked the question to Nobby, do you think the problems have sorted and they are just concentrating on the IPO?

[sharecropper] 26/4/2005 14:12

Nobbygnome - I meant to compliment you on the quality of your information.

[sharecropper] 26/4/2005 14:11

But cheer up - I expect MASSIVE gains. Don't forget, mining operations have been going on for all the time this has been delisted, and from what I am led to believe there are some pleasant surprises in store.

[jasper65] 26/4/2005 08:59

Another couple of months, additional fundraising to keep co going( could that be from the directors at a ridiculous price ?) ! These Directors know how to fill their boots. Expect MASSIVE dilution.

[johndavison] 26/4/2005 08:28

Cheers for the info nobby. Like fatnacker I expected dilution so no surprises, abit disapointed that there might be a consolidation but you can't have everything. Do you know if all the problems have now been sorted out and that they are concentrating fully on the ipo?

[nobbygnome] 26/4/2005 08:11

The IPO of course would add further dilution but we would all have the opportunity to buy more. As I understand it the IPO is necessary for the company to get a quote on AIM again following the delisting. As for a consolidation, I don't know but wouldn't be surprised if that happened.

Nobby

[fatnacker] 26/4/2005 08:00

thanks nobby I did expect some dilution but had no idea how much so not realy bad news for me , would the ipo add further dilution or not ? do you think there will be a concolidation ? and lastly will stn relist before the ipo or is the ipo needed to relist ? your opinion is valid to many on this board.

[nobbygnome] 26/4/2005 07:50

Ok well here goes. I have some good news and some bad news!

The bad news is that we are going to be diluted more than originally was planned due to the fact that there have been some private placings to keep the company going. The good news is that the mining company is being acquired at a very conservative price which should give significant upside on relisting.

There will be an IPO as the company effectively has to join the market again as it was delisted. They are looking to raise about £3 million in this process and so we will all have a chance to buy more shares if we want!

It sounds like the mining company may be acquired very shortly and then we will go into the process of sorting out the IPO. So as usual don't expect the IPO for at least a couple of months.

Regards

Nobby

P.S. Don't shoot the messenger about the delays

[jasper65] 25/4/2005 09:31

PS...STN any chance of a job...would love to be paid to produce fxxx all !

[jasper65] 25/4/2005 09:30

Nobby, it shouldn't need the shareholders to contact the directors, if anything was happening there would be an RNS, no RNS no news, no deal.....but the directors are still being paid and the cash pile is decreasing with every month this thing drags on !! So whilst my share certs aren't down the toilet yet, they are in the same room ready for the wipe !!

[nobbygnome] 25/4/2005 07:46

The problem is people make pronouncements on no information! I know the company has hardly been forthcoming unless you make the effort to contact them but we could do with a more informed debate.

It is on my list of things to do this morning....

Nobby

[johndavison] 24/4/2005 21:06

Jasper - If you wanted a Gillingham scarf I remember that UpTheGills would exchange the certs for one. Arh those were days of total insanity. Now what happened to him/her?

Nobby, as always it would be great to get the latest position.

[snoopdoggywuff] 24/4/2005 13:32

As ever Nobby, thankyou for being the voice of sanity. Look forward to hearing the share price next week.

[nobbygnome] 24/4/2005 09:34

I didn't get round to ringing Peter last week. Apologies to everyone. I will try again early next week and report back.

From his e-mail, Setstone is still very much alive and kicking. So don't flush away those certs quite yet....

Nobby

[doorway] 23/4/2005 17:54

ok jasper you put yours down the toilet now but im keeping hold of mine just in case