Tuckman1
02 Mar 2015
Re: Forked Tongue It seems that not a lot of people really understand the RNS on ADVFN. At least going private will get rid of all the traders and shorters and all of those with hidden agendas. What has actually changed with the project? It still will be delivered because AMED have shareholders to please as well.Why not negotiate from a position of strength ie project NPV`s IRR`s etc or a position of weakness ie Companies Market Capital.This project will be funded for the rest of the year, IMO it will be sold after BFS completion and IMO I will get more than 6p that is on offer now. That's my opinion. Yes much further bigger dilution but that would still happen anyway on/off the market.I have been here long enough and still believe the project will be a success and so does AMED by the way they are wanting to fund it to the end and also get as much of a % as they can. That's just business on their case. At least we still have an option to stay in but that is each and everyones own decision to make.No need to speak on ADVFN as it will IMO fall on deaf ears as people have already made their minds up even before they have the offer document. Look at all the selling now. Why not even wait for 6p. Unless you are a trader and think you can do better elsewhere. Me I shall just stick around until the end. These bedfellows have saved the company before and at least they are giving the opportunity to deliver the project to BFS stage now. Who knows how it will end on or off the market. Who believes the project will succeed, well I do.Good luck with your decision Topicel but I guess you have made it up already.
topicel
02 Mar 2015
Forked Tongue No appearance at ADVFN a then Tuckman? AGM Was a con, eh?No way would anyone go private with these bedfellows. Did they forget to mention they needed 12 million? Lol.Be brave and speak on ADVFN...Topicel
Tuckman1
02 Mar 2015
Re: How will we get our 6p? You do have a say, it is your choice to sell or not. What has changed about the project? The only difference is that it will be fully funded if this gets de-listed, AMED take control and move it in the direction they choose. Have you fully understood the RNS. If you have then you should know you will get an offer document through from your broker giving you your option. Your choice of washing your hands or staying with it.
Stan Dandeliver
02 Mar 2015
How will we get our 6p? As with other posters I am extremely disappointed with the way that shareholders have been treated by the BOD. It does seem very shady and goes against all of the newsflow and reassurances that we've had so far.So LOSA was right all along and Tuckman's continued enthusiasm baffles me. my calculations I won 1/1000th of this company and yet have no control or say in what happens.I am now just keen to wash my hands of it and limp away with my 6p.So what is the mechanism for receiving the 6p per share? Is this handled through AIM or is it direct from our dodgy BOD? Outside of the controls of AIM I'm not confident that we'd see anything at all.
Lawrence of Saudi Arabia
02 Mar 2015
Re: Hi Tuckman AMED are going to on sell this for sure! And I wouldn't be surprised if they aren't already in talks (bb passim)." trusting AMED to do the right thing" for share-holders is huge ask. Once delisted the murkiness will stink. There may be money at the end of the track but I wouldn't count on it.We can guess who the potential buyers might be and none of them have European scruples! Think again why did the good Dr. Mohan Kaul walk?LoSA Smelling a whiff of unpleasantness ahead!
Tuckman1
01 Mar 2015
Re: Hi Tuckman Yes LOSA dilution is going to happen but it would also have happened if they remained listed. The main fact is that AMED hate the AIM market and do not want to be a part of it. The big question for me is that do I trust AMED to take this forward and sell it at the end of the year once the BFS is completed. Do I still believe the project will succeed, YES. Will I be selling no.There are various aspects put in the RNS for shareholder rights but the end result could be they will negotiate a sale price based on project valuations rather than a company market capital which obviously is pretty poor, that could be a big benefit. Only time will tell how it pans out but at least it will be free from the restrictions and costs of the AIM market and the traders and shorters which obviously I do not like!!!Risk is there but at least there is a company willing to support the finance for the rest of the year no matter how the dilution comes and it will not be based on the current SP. No doubt they are aware of the future potential value which is why they have made their move at this time. News is just around the corner and no doubt hopefully extra value. There will still be an opportunity to sell the shares but obviously in a much more restricted way but with the current details on the RNS I shall stick it out until the end of this year and see where the project is. Nothing has changed in that respect as I believe it will work it is just hopefully trusting AMED to do the right thing. Maybe they will even speed things along as they will be in the driving seat. Maybe they have already sold it? Who knows but I still have plenty of hope.
Lawrence of Saudi Arabia
01 Mar 2015
Hi Tuckman It would be easy for me to say this has never happened to me but.......... that would be blatant untruthfulness. What I can say, is once delisted then anything is likely and more often than not there is further dilution or you're left with an empty shell company. Obviously taking the money off the table today will hurt! But you can get that money working again in a company that hasn't shafted you once already!At the end of the day, when I held on hopefully wishing for a sunny day, I was left with a "share-certificate" and nothing else.LoSA Seen it all before (several times).
Tuckman1
28 Feb 2015
Re: There's two options..... Yes LOSA you did call it but as ever I shall see this out to the end. I would think the value of the completed BFS and future sell off later this year will generate more than the 6p on offer. But yes the major winners are AMEDSome form of dilution will come after the deal has been put through but in a way as long a they support the future year ahead then I shall see a reward when no doubt it is sold to the best offer when the BFS is complete. Raising money on AIM in todays conditions has dropped them to the bottom of the barrel and unless someone else out there with $12m wants to join the party then there is no alternative.Only time will tell how this will play out but now IMO there is no chance of getting into production but a sell off will occur before the year end if AMED get their way.All IMO of course but will stick this out to the end as always. So may have lost a battle but not the war.
Lawrence of Saudi Arabia
28 Feb 2015
There's two options..... 1. Sell and recover 6p.2. See what happens in the future.BAO is dead the resource and the future mining operation will be on-sold! And shareholders, as usual get stuffed.LoSA Writing was on the wall a long time ago!!
forwardloop
27 Feb 2015
Summary [link] pig iron group Baobab Resources (LON:BAO) is set to be taken over by its major shareholder, African Minerals & Development.AMDF subsidiary Redbird is offering 6p per share for the shares in Baobab it does not already own, which values the group at £20.5mln.Baobab’s two senior directors, Ben James and Jeremy Dowler have agreed to accept the offer, which if successful will see the shares de-list from AIM. The company said it needs at least US$12mln in new funds to complete a bankable feasibility study on its flagship Tete project.Once off AIM, it will attempt to raise the money in a place where a prospectus is not required and where regulatory and listing requirements are less onerous.Dowler, Baobab’s chairman, said: “Notwithstanding the attractions of the Project and the company's wider asset base, the independent directors are of the view that the market has to date failed to recognise the value proposition.“Despite its long history as a quoted company, liquidity in the Company's shares remains relatively limited and there are significant direct and indirect costs associated with the maintenance of the AIM listing. “Redbird is prepared to make the offer in order to enable shareholders to realise their shares for cash at significant premium to the current share price,” he added.
Tuckman1
27 Feb 2015
Re: what I think The main issue is, you do not have to sell, you have a choice.. AMED are prepared to back the required $12m for the funding if they are taken off AIM. If you believe the project will succeed this year then why sell? The fact that if/when it comes down to negotiations they will be dealing with a project NPV valuation rather than speaking to people with a company SP valuation has its merits. Traders and shorters will be removed from the equation and as per the RNS there is guidelines for future shareholders protection left in the company in part 12. The question everyone should ask themselves is do they take the risk and trust AMED to sell the project after the BFS is completed before the year end?More information will come in the offer document but I for one will be happy that the project is fully funded if no other options reveal themselves before the offer closes.Not everyones cup of tea but still like before if the project succeeds then we will be rewarded but the traders and shorters will miss out on their fun.Good luck all whatever you decide to do but like always I am sticking with it until the end.
Chartwizard
27 Feb 2015
what I think I bought at 10p and it was a spreadbet, so I have lost a few hundred pounds. For larger investors I feel this deal was a rough one and harsh. The major shareholder could have offered more knowing very well we are at the low end of commodity price cycle. Its like saying we will give you what they are worth now. In the company's interests was it the best deal, well you never know if there is someone out there who thinks they could provide a better offer and the assets fit.What I am trying to say is you should rule out another bid.
Zwaxxob
27 Feb 2015
Re: Re:Re: Not Good News-Tuckman Surely it is much better to get 6p than to go down the dilution route of issuing loads of additional shares (with warrants/convertibles) at a discount to the current share price. De-listing is the price we pay for this I guess
nat81
27 Feb 2015
iron ore certain commodities are in dire state at the moment and for the next year or so, including iron ore, coal. several companies have been going under, the latest was LOND, BZM and now BAO.better seek out commodities which have already bottomed and in the process of going back up and also has no requirement for capital, platinum is one example (see JLP)sad but i also lost a fortune, been quiet as was in bottom drawer.i do hope my OXS will several multibag soon so that i can top up JLP and other oilers
raghu2
27 Feb 2015
Re: Re:Re: Not Good News-Tuckman my average is 15 and i have an awful lot invested here...so what are the options for us.? we all need to be in 1 group to stand up against this cheating
