Sierra Rutile Share Discussion Threads

[rolo7] 17/8/2016 16:09

Can we buy iiuka resources shares anywhere?

[russman] 17/8/2016 12:46

No. I have voted against all 3.It is a done deal; it wont make any diff.

[bossman1978] 04/8/2016 23:51

Is there any chance for a special dividend here? Any thoughts welcomed

[bossman1978] 04/8/2016 13:23

36p is far too low a price. It should be double that with everything going for the company. Why are Pala willing to sell so cheap and what deal will us PI get?

[snowyflake] 04/8/2016 12:45

The shares are not suspended.

I guess that the board are waiting to collect on their options where they have them and they are in credit.

[bossman1978] 04/8/2016 11:42

So what are the bod actually doing now? The shares are suspended?

[snowyflake] 02/8/2016 07:46

urchin1 - your post should be rephrased "the board should have referred the offer to independent advisers"

Unfortunately the board seem to be complicit in Pala's desire to sell at this low price when the market is turning and SRL will benefit from the upturn in rutile prices and the exponential increase in production.

The bid is to suit Pala; not the shareholders. The board should have been conscious of that fact and acted in the best interests of ALL shareholders. The company is worth more.

[urchin1] 02/8/2016 07:18

BOD should reject this offer !

[snowyflake] 01/8/2016 23:01

Bossman - sadly we are not to get it. If Pala was prepared to pay 30 pence per share in 2011 and are now prepared to accept 36 pence it does not speak well for their directors competence does it?

Or is there a rush to get money in and if so why? Production going up exponentially, rutile prices hardening, new infrastructure, a resource which will last for decades. This looks to me like a fire sale to get in cash. But what is the board doing to protect non institutional shareholders? It looks like zero.

[bossman1978] 01/8/2016 21:45

I would be happy with 136 not 36

[russman] 01/8/2016 12:34

When is this meeting that Pala refer to .

[lovelyjubly1] 01/8/2016 07:20

surprised.

[russman] 29/7/2016 11:53

No way Jose.

[snowyflake] 29/7/2016 10:33

As a poster on LSE has put it and I use my own words how can there be advanced negotiations if the CEO has been first to China and was last known to be seeing Toho Titanium (who I guess may purchase product from SRL) in Japan on 25th July.

The offer is a speculative attempt to get Sierra Rutile for a song. The company is greatly undervalued.

Pala who hold circa 55% of the stock made an offer of 30 pence per share in 2011 since when the company has been transformed, production has reached an all time high and prices for the company's product are hardening.

Hold tight is my view and do not sell a share.

[stonefold] 29/7/2016 09:59

IMO that first offer will be roundly rejected.
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"......Iluka Resources Limited – Request for trading halt pursuant to ASX Listing Rule 17.1

Pursuant to ASX Listing Rule 17.1, Iluka Resources Limited (ASX: ILU) (Company) requests a trading halt be placed on the Company’s securities, to take effect immediately.

For the purposes of ASX Listing Rule 17.1, and in support of its request, the Company advises that:

 The trading halt is requested pending an announcement by the Company regarding a potential corporate transaction involving the Company and Sierra Rutile Limited (SRL).

 The Company is in advanced discussions with SRL in relation to an all cash offer for SRL. At this stage, the discussions are incomplete and any transaction remains subject to a limited number of important pre-conditions. Therefore, there can be no certainty that a transaction will proceed.

 The Company believes that confidentiality has been lost in relation to these discussions and has requested the halt to avoid trading on an uninformed or speculative basis.

 It requests that the trading halt remain in place until the earlier of the time the Company makes an announcement to the market in relation to the potential transaction and the commencement of trading on Tuesday, 2 August 2016.

 It is not aware of any reason why the trading halt should not be granted.............."



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"29 July 2016
TRADING HALT – SIERRA RUTILE LIMITED

Iluka Resources Limited (Iluka) refers to the Trading Halt request under ASX Listing Rule 17.1
made by Iluka earlier today and note that Sierra Rutile has made a separate release in response, a
copy of which is attached to this announcement.

Iluka confirms that the price per Sierra Rutile share under its proposal is 36 pence and, in addition,
that this price is final in the absence of a superior proposal.

Iluka notes this announcement does not serve to release the Trading Halt and that it will come out
of Trading Halt on the earlier of the time the Company makes an announcement to the market in
relation to the potential transaction and the commencement of trading on Tuesday, 2 August 2016."

[bamboo2] 29/7/2016 08:28

Chart target around 45

[p@] 29/7/2016 07:54

FOR IMMEDIATE RELEASE



London, UK, 29 July 2016: The Board of Sierra Rutile Limited (AIM:SRX) ("Sierra Rutile" or the "Company") notes the announcement made today by Iluka Resources Limited ("Iluka") and confirms that it has received an approach for the issued and to be issued share capital of the Company at a price of 36 pence per ordinary share in cash. Discussions are at an advanced stage, however, there can be no certainty that an offer will be made or as to the terms of any such offer. As a result, shareholders are urged to take no action at this time. A further announcement will be made in due course as appropriate.

The Company is not subject to the UK Code on Takeovers and Mergers ("Code") and, therefore, the Code will not apply to any transaction involving the Company.

[urchin1] 29/7/2016 07:38

36p - cheeky - come back with £1 plus minimum !

[rolo7] 29/7/2016 07:30

36p far to cheap

[modform] 27/7/2016 21:33

The reason for the move is the multiple increases by the pigment manufacturers who use rutile, ilmenite and slag as the raw material. This means that demand for the raw material has increased drastically and miners are increasing their prices rapidly to catch up with TiO2 prices. I am a holder from 24p

[rolo7] 27/7/2016 21:23

moving up nicely again, maybe the chinese might want srx?

[snowyflake] 27/7/2016 16:48

The advance continues. The ceo visited China on 20 July and was last known to be in Japan visiting Toho Titanium on 25 July. Possible new purchase orders or possible take out talks?

[snowyflake] 26/7/2016 10:09

There were a couple of decent trades recorded yesterday after a good day on Friday.