Toledo Mining Share Discussion Threads

[edward3] 19/3/2013 06:58

Shareho1der as you say dream...

[shareho1der] 18/3/2013 23:24

It seems my dream of buying this at 18p is still alive then.You never can tell in this crazy power battle .

[oli12] 18/3/2013 19:05

Anyone wanting to accept the offer MUST do so in writing by 13:00pm on the 2nd April. Monday 1st April and Friday 29th March are Bank holidays so we have 8 business days remaining...

Surely we can expect a comprehensive update from TMC tomorrow outlining why we should NOT accept this offer which severely undervalues the companies potential & assets.

I'm still holding half waiting to see what the company comes up with... I will then make a decision at the last minute.

[joe say] 18/3/2013 17:15

And to show us how much they believe in that statement they too have taken no action regarding this offer

;)

[zangdook] 18/3/2013 16:23

Well they would be as they are issued by the board who have just asked us to reject the DMCI offer.

When was that? The RNS this morning said:

The Independent Directors advise shareholders to take no action regarding the Offer

[moosh2] 18/3/2013 14:39

when Pala offered to take over SRX, share price continued to go up once the offer period was over - Pala acquired a bundle of shares on the cheap before major ramp-up in production and firming up of accounts. then BOOM from 30p to 80p.

failure of a take over doesn't necessarily mean the share price will go down if it doesn't happen. as above evidence proves. if TMC fundamentals are on the turnaround (which recent RNSs suggest they are), then i don't see why the share price can't continue going up.

[millse] 18/3/2013 13:22

Dmci will get above 50% so will get control, they will not be able to take private though

[aquilla] 18/3/2013 11:55

Calm down, guys.
As I stated in my last email to the TLG, the chances of the Board rejecting the offer on a scale of 1 to 10 were 9.
I also mentioned that the share price might initially go down if DMCI failed to reach 50% but longer term, I would expect it to go up!
AIMHO

[joe say] 18/3/2013 11:34

agree with SG and hence the reason I accepted

Can only see one direction for the share price if the offer is rejected and we can all guess which way that is

[millse] 18/3/2013 11:31

The board need to issue an RNS asap stipulating their position.

[millse] 18/3/2013 11:29

If dcmi don't get 50% then the Sp will go down not up.

[sg31] 18/3/2013 11:20

What can they offer? If the DMCI offer isn't accepted the share price will be back where it was or worse, certainly in the short term. They will need to come up with something.

[oli12] 18/3/2013 11:14

Still a rejection - I see the news of the last few days from TMC as the start of a targeted PR campaign to defend its self, Shipping window open, Resource Update for Berong, Fevamotinico's formal rejection is another piece of the jigsaw....

I only hope TMC don't leave it too late to make a difference here... what they really need is the tree cutting permit and Ipilan Permit...

all we need now is the "response circular from the Independent Directors"

[zangdook] 18/3/2013 11:11

I wish we'd had some tough guys like that on the register at ENK.

[millse] 18/3/2013 11:07

It reads to me that the board has not rejected the offer, its 2 major shareholders that have

[oli12] 18/3/2013 11:02

NEWS OUT - REJECT!!!!!

Toledo Mining Corporation plc
("Toledo" or the "Company")
Mandatory Cash Offer for Toledo
Receipt of Letters of Intent to Reject the Offer

The Company today confirms that it has received letters of intent from
Fevamotinico SARL (in respect of 10,060,000 shares) and Forth Asset Management
Ltd (in respect of 2,492,000 shares) indicating that they do not intend to
accept the Offer for the Company made by DMCI Mining Corporation, in respect of
a total of 12,552,000 shares representing approximately 25.18 per cent. of the
Company's existing issued share capital.

The Independent Directors advise shareholders to take no action regarding the
Offer until they have received, and had an opportunity to consider, the response
circular from the Independent Directors.

[joe say] 18/3/2013 09:29

Does anyone know the mechanics of accepting through a nominee account ie I have accepted the offer for my shares held in my Hargreaves Lansdown SIPP

Do HL immediately advise the company of this as each and every underlying holder votes in favour or do they batch them up and only advise of the final position once all clients have responded (or ignored) ?

[aquilla] 16/3/2013 17:07

TLG, you have mail. :-)

[joe say] 16/3/2013 08:02

but extending that logic suggests that A.N. Other plc could have already made a counter offer

the fact is - they haven't

[sg31] 15/3/2013 21:56

It might be too late already. If DMCI already have 45% they will probably pick up a few % from holders who get a corporate action notice and just tick the accept box. They are probably sick of this company and the 50p looks like a good exit. Remember most folk don't read this board and even of those who do a few will accept.

[aquilla] 15/3/2013 20:33

Good find, Mickey.

So perhaps this was the announcement that caused the Board to wait until the last moment.
This is the interesting bit:

"....The regulator, the Mines and Geosciences Bureau, which expects funds for new mine projects and expansion to reach $700 million to $1 billion this year, will start accepting new mining applications on March 18."

So it's down to the wire. Tree-felling and final Ipilan permits round the corner now.

I can't see how the Board can't but advise against the bid in these circumstances.

[mickey19721972] 15/3/2013 19:26

This may add a little fuel to the fire;

[oli12] 15/3/2013 14:01

Interesting... so IF Fevamotinico made an offer of 55p per share - obtain a majority holding from the remaining holders and then try and reach an agreement with DMCI on what they do... one assumes DMCI want Berong and FEV want Ipilan.

maybe TMC has one final hurrah

[aquilla] 15/3/2013 13:58

Hi Oli.
What I have been informed is they cannot. They have not caveated their statement with a counter-bid clause. It would, I am told, be 12 months before they could make another offer though I am not clear if that period would be shortened if a counter-offer came through.