Workingstiff
14 Apr 2016
Re: UK listing I voted against - to no avail. This is what I got from Halifax -"We were in touch a few weeks ago regarding your shareholding in Amara Mining plc through Halifax. I told you that I would be in touch again with more information about how you can continue to hold you shares going forwards.Once the business combination completes with Perseus, your Amara shares will be converted into the appropriate number of Perseus depositary interests (DIs).Our understanding is that DIs can be held in CREST accounts through Halifax and that no positive action is required to be taken in order to be issued with the DIs and that the DIs will be ISA eligible, so there is no risk in continuing to hold your stock with Halifax before the business combination completes. Amara’s advisers are working on a solution that will enable shareholders whose providers (like Halifax) do not offer international trading to trade DIs should they wish to and we intend to provide an update to all shareholders in relation to this once the business combination has completed. In the meantime, we would encourage you to contact your existing broker should you have any further questions."
shugg1e
13 Apr 2016
Re: UK listing This is what a got from my broker.Perseus Mining Limited is an Australian based Gold Explorer focusing on under-explored gold belts in West Africa. At present Perseus Mining Shares are listed on the Australian Stock Exchange (ASX) and the Toronto Stock Exchange (TSX). As Perseus Mining Shares are an Australian Security they cannot be held or settled in the UK Settlement System, Crest. To overcome this the Company will create Depositary Interests in the UK which can be held in Crest. Each Depositary Interest will represent one Perseus Mining Share. It will only be possible to trade these Depositary Interests if a market is created for Perseus Mining in the UK. Perseus Mining has stated that it will examine the merits of a listing on the London Stock Exchange (LSE) on completion of the acquisition. If a UK Listing is not obtained you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price. It may be possible to trade Perseus Mining Shares on the ASX or TSX. In order to do this you would need to first transfer the Shares into the Australian or Canadian Market. Further details of this procedure are contained in the attached appendix. Just looks too dodgy and i dont think they will list otherwise they would say so which makes it very hard to crystallize your asset.
Equine Visage
13 Apr 2016
Re: UK listing I don't know what you guys are talking about CDI's are a certificate of ownership:[link] can you post where you think "they" said they could just cancel your shares? Information in the public domain appears to contradict this:Security of CDIsAt first glance, it looks as if owning a CDI means that you are further removed from owning the underlying stock – but the difference is smaller than you might think. Although the structure of the CDI means that the underlying stock is held in the name of CREST rather than in your name being on the register of shareholders, the same is true for most share ownership today.Foreign securities bought through a UK broker and held overseas with CDIs are almost invariably held “in nominee” (i.e. in the name of a subsidiary of the broker that holds stocks on its clients’ behalf). The same is true of most UK stocks, unless you have CREST personal membership through your broker.As with any stock held in nominee, you still have economic rights over the share underlying the CDI. You will receive dividends and CREST will process corporate actions such as stock splits and rights issues.The safety of brokerage account holdings is an extremely complicated topic, and just as with all nominee holdings there are some theoretical risks. However, the fact that CDIs are issued by the central securities depository – a crucial part of the financial infrastructure – means that they are unlikely to be the weakest link in the custody chain.they will be hard to trade unless you convert to ASX or TSX which is the logical thing to do but they can't just cancel them.
WANTPAYINGONTIME
13 Apr 2016
Re: UK listing and the note that came through yesterday says will look to trade and they have year to decide whether to list and if they dont they can just cancel all the shares...sold out as can't be doing with the hassle and booked an £850 loss
shugg1e
08 Apr 2016
sold will buy back in if Perseus lists sounds doubtful though.hope so but not worth the hassle in case they dont uk list
merked
30 Mar 2016
nice climb nice and steady and decent volume. does anyone know the date for the merger and has it been approved? presume we won't reach the merger price before it right? we're close though aren't we?
shugg1e
11 Mar 2016
UK listing From what i can understand from the deal is that Perseus will look into a UK listing as part of the deal.If this happens it will be much much better for UK share holders and for me would get my vote on the deal going through.
Bank101
07 Mar 2016
Re: Perseus Aisc is high because head grade is lower than expected. This is expected to increase as the ore body is mined out later in the year. The risk is that their models are wrong. The company have admitted teething problems in the transition of explorer to producer, it might be interesting to some holders to listen to the quarterly webcasts.
Kenj2
07 Mar 2016
Perseus As at 31 December 2015, Perseus's gold price hedging included 120,267ozs of gold sold forward at a weighted average price of US$1,276/oz." So they have over 50% of 2016 production hedged at $1276, not far above today's gold price. In this scenario they will make little on their hedging this year, and nowhere near the $23.6M they made hedging in 2015 (much of this profit was due to previous hedges at $1432and $1600).Perseus's mining costs are rather high and have been rising. Their December 2015 Quarter although claimed to be exceptional was $1408, (and no $1408 is not a typo).Gold Production & All-In Site Cash Costs December 2015 Half Year - Gold Production 76,693oz @ $1208June 2016 Half Year - Gold Production 95,000-115,000oz @$1,100-1,300Financial Year 2016 - Gold Production 172,000 – 192,000oz @ $1,130-1,250If production costs are at the top end of this years estimate of $1250 per oz, it will leave very little profit when sold at the hedge price of $1276. So 2016 earnings look like being far below those of 2015.Amara's Yaouré mine is 18 months to two years away from production. Seeking Alpha claim it will "cost $334M to build the mine, and assuming a 40% equity requirement, Amara would have had to come up with $140M in cash". Perseus may well have the initial $140m, but if the gold price retraces it is difficult to see where the remaining $200m will come from without borrowing. They also have a mine of their own (Sissinge) to develop, which needs another $79m spent on it. This is currently being mothballed until the gold price rises. I think that this is a great deal for Perseus whose high costs and low hedges mean they will struggle to make much of a profit for the next year or two at today's prices. They are gaining a very good low cost gold mine to add to their costly and declining portfolio. I do not believe that it is such a good deal for Amara shareholders, and expect they will see little return on their investment for the next couple of years.
merked
04 Mar 2016
Re: PoG & ref this article [link] about a price war. let's hope the board reject the offer on account of the POG & other interest. I'd take 20p now though!
Mpg1
04 Mar 2016
Re: PoG I bought some more today, sold out of chal at a 50% loss so I think there is potential of getting a 100% rise here in the near term even without another bid. With gold rising there is plenty of time for us to get the bid before the deal is closed. It would be nice to get 20p plus for ama.
Workingstiff
04 Mar 2016
PoG Gold's having a great morning. Around 1274 as I write. 1300 may be coming into view soon. Surely there is someone out there who can better this paltry bid.
ChangFai
04 Mar 2016
Re: Bid battle for Amara Mining? www.pressreader.com/uk/shares/20160303/281651074194503
willz121
03 Mar 2016
Re: Bid battle for Amara Mining? Can't see the whole content can't you copy and paste it in?
ChangFai
03 Mar 2016
Bid battle for Amara Mining? [link]
