Shanta Gold Share Discussion Threads

[lowtrawler] 20/3/2024 08:33

MF, to increase a final offer without a competing bid entering, they will need approval from the panel. I'm not sure if that would be a formality.

[michaelfenton] 20/3/2024 08:07

If this offer fails I feel that the Patels will increase their offer as it is still plainly inadequate. Ignore the Final Offer they would be stupid given the probable current finances not to up it.

[fitton] 20/3/2024 07:58

Patels are laughing.Extend the deal time, every month adds $5m in cash.We had the offer back in December.Shanta are generating maybe upto $5m a month in cash.Very little information has been discussed about drilling so it may be the bank account is swelling with cash.I wouldn't trust them as far as I could see them but I think the increased offer will probably get them over the line.I've still voted no again, mainly because gold is on the rise and Shanta are now getting $200oz more for the gold than when the offer was submitted.The Patels could easily increase the offer further and it would cost them nothing due to the increased cash generation.

[clotted cream] 19/3/2024 20:55

Why would you be worried about a failure of the Patels offer?
The mining performance has little to do with the dodgy directors or lying CEO in my opinion. Long ago decent teams of national managers have been in place at each project to deliver value and the wheels will not fall off without those NEDS not re elected at the next AGM.
All the directors seem to do is meet bi monthly for a few hours and back up over ambitious CEOs who are on an ego trip, been to Guernsey and seen the "work" first hand, great jobs if you can get them.

The future holds no fear for shareholders because profitability is there now, but I fear this company has just used us to fund its development. Losses attributable to shareholders stand at $55M from memory, don't need us any more!

They have used us and probably will now royally shaft us because they have no morals and are prepared to push the boundaries of legality with the unregulated AIM market listing.

[stevea171] 19/3/2024 20:28

A lot of late reported trades. 74 million total for today which is above anything since December.

[jasper2712] 19/3/2024 19:18

RB1206
"Dirty games are being played regarding voting"

You are right there. I have not heard from iWeb regarding how to vote for the first offer. I am getting on to them tomorrow. By not having the opportunity to vote plays into the Yes vote camp. Why should this be the case and not the other way around?
How many other investors is this happening to?
As I have said before - something does not smell right here.

[vlad the impaler] 19/3/2024 18:19

Awful

But was on the cards

SP will start tanking soon to make the offer look ok so do a runner if any left

Unless a near expiry date given for offer , You dont want to wait months for it

[vlad the impaler] 19/3/2024 18:17

Increased offer

There's the bad news I'm afraid

#RipOff

Hilarious isn't it. When a 1 in 500 little company has some value, they rob it 😂

[fitton] 19/3/2024 17:43

High volume today suggests the deal is done

[redhill] 19/3/2024 17:05

I find it rather odd that no other bidder has appeared on the scene at present especially bearing in mind the potential in Kenya.

[redhill] 19/3/2024 16:44

metis20

Thanks. ADVFN not showing.

[metis20] 19/3/2024 16:37

Sand Grove Capital Management LLP 39,650,000 3.77% 26th Feb 2024





Sand Grove Capital Management LLP 44,090,000 4.2% 1st March 2024

[redhill] 19/3/2024 15:59

Phillis

More to the point who is buying and will they report ?

[redhill] 19/3/2024 15:58

Sandgrove last reported on 22/1 that they held just shy of 16 million shares totalling 1.52%
In this RNS today they are quoted as holding over 46 million shares 4.4%.

Should they have not reported their trades ?

[rb1206] 19/3/2024 15:45

Dirty games are being played regarding voting. I had no notice regarding vote again from HL, but decided to check through old voting link and surprise surprise it was reset to end March date and voted NO.

[phillis] 19/3/2024 15:43

No other bidders
38 million traded!
Who is selling?

[lowtrawler] 19/3/2024 15:36

Phillis, there is still time for people to decide whether to cash in their chips. Unlikely as it may be, there is still the chance a competing bid comes along. I don't think we will see much downward movement in the price prior to the vote. The sensible move, even if you decide to sell, is to wait until nearer the vote.

[lowtrawler] 19/3/2024 15:31

RH, it's largely as we feared. The hedge funds accumulating were doing so to support the bid. Between SC, Odier, Directors and the 2 hedgies, they are still under 30% which indicates they still have a long way to go. Over the next week or two, they might be able to pickup another 5 - 10% buying in the market. Even then, it's not clear if they will get to the magic 75%

[phillis] 19/3/2024 15:25

People cashing in their chips?

[lowtrawler] 19/3/2024 15:20

RH, Sand Grove are a hedge fund. Odier increased on 15 January per RNS as below:

[redhill] 19/3/2024 14:37

Who are Sandgrove who have voted their shares with the Patels ?

I first though that was Samsom Rock capital who have been busy accumulating but seems not.

Also how did Odier increase without notification ?

[lowtrawler] 19/3/2024 12:38

good plan napoleon. No rush to sell at the moment. It is always possible there is a last minute competing bid.

[napoleon 14th] 19/3/2024 12:35

Lowtrawler - I agree by & large.
_______

Haven't sold my small parcel and kept stum.
If a higher bid comes in,we'll see. I can't see the final offer suceeding,
in which case i'd sell before the closing date.
If that is so, there'll be the chance to buy in lower.
Long term should be good, over a number of years and hurdles.

Que sera, sera...