wheresmymoney
01 Aug 2016
Re: Takeover price Glad I flogged half my holding at 37pCan't believe they are recommending this takeover price. Scandal I tell ye.
Fools Like Us
01 Aug 2016
Re: Takeover price Also announced on investegate. [link] vote to accept.
donkey derby
01 Aug 2016
Re: Takeover price Whilst I agree with you, Iluka have announced on the Australian exchange that terms have been greed at 36 pence.White knight?
Donatron
31 Jul 2016
Re: Takeover price Agreed, it's an absolute joke at that price.Personally I would rather the company was not subject to an offer at all, but if it was then I would be looking for 100-120p minimum. This was always something to hold for a number of years and I would rather make more money in the long term than a smaller amount in the short term.
Madoff Jnr
29 Jul 2016
Takeover price For me,£1 at the very least.50 years (?) supply of titanium and improving market.
donkey derby
29 Jul 2016
Re: From Gibraltar1 on LSE... and you may or may not know but Gibraltar1 (which he has openly stated on LSE has in about 5 million shares. I do not know about Corbine but another holder recently stated that he holds 600,000.I hold 350,000 which is far less than them. I am holding my ground. I cannot see this going for 36 pence and the sooner the board puts paid to this opportunism so much the better. Iluka failed with Kenmare. Let them fail with Sierra Rutile.
Jitter
29 Jul 2016
From Gibraltar1 on LSE... So lets keep our heads. They have the resources available to them. $1bn Aussie borrowing facility. So could bid up to 3 times the current price! They returned $715M to shareholders. Lets see what transpires but i reckon 60p plus final price then its Pala's call, not ours!---------- ---------- -----I kind of doubt the advanced talks argument. Sissay is doing karaoke in Japan currently with his mates from Toho Titanium. When I sell a company it is locked doors for days. This has a long way to run, we know as do Pala the value of the stock. The reality is that Pala directors were paying .54p for shares 18 months ago or far poorer prospects. Pala will only deal at true value so lets see what happens. Now if you said a price between 70p and £1 I would agree that somewhere between seems like fair value. DON"T forget we have a strong institutional share holder base who will decide the final price, on this occasion it is fortunate that we don't have z large number of PI's who could effectively jump at a stupid price. I reckon we let them get on with it because the II's/Pala won't sell us short.I agree, J.
wheresmymoney
29 Jul 2016
Re: 36p?? yea - we don't want no crims taking over I don't like the sound of 'at an advanced stage' either... I sold half this morn - can't see the share price making any headway for a while now
donkey derby
29 Jul 2016
Re: 36p?? Did not the Brits used to send convicts to Australia?
wheresmymoney
29 Jul 2016
36p?? Thats a tad cheeky!
donkey derby
27 Jul 2016
Re: Loving the ride Late buy of 100k at 38.35 reported this evening.Long may the ride continue - imo just catching up with the real value of the company.Two posters have posted today that John Sisay has seen Toho Titanium in Japan. Deal or what?
wheresmymoney
26 Jul 2016
Loving the ride News in the offing?
Donatron
21 Jul 2016
Re: Silence despite rise Sorry, I should clarify - I don't doubt that Pala will seek to exit at some point, I'm just saying I don't think that it is the significant factor driving the recent share prices.For the non-LSE readers, John Sisay tweeted this:[link] that is encouraging and there is a chance that it could lead to something for SRX, but I wonder if it isn't largely related to broader Chinese investment in Sierra Leone. The man is likely to be the next president, so it makes sense to meet with the Chinese in terms of potential future deals.In a way though, I'm not really fussed if they get involved in SRX. I would rather the share price grows organically and sustainably with no offer, than for PALA to take the company private at (e.g.) 50p with a view to a FTSE 250 listing at 100p. Gangama being commissioned is just the start of this chapter of the SRX story and ideally this would be a share to hold for 5 years into the realms of 200-250p, with a sustainable dividend.We know that Pala don't want to hold this forever, so I think they have three alternative exit strategies:1) A large placing (e.g. $100m) to dilute their holding and create a secondary market to start offloading.2) Sell chunks to IIs (e.g. 5% at a time) over the next couple of years.3) Sell all their shares to a single investor who doesn't want to buy the company outright.I see a full takeover as being more likely, however. Pala's timeframes are shorter than ours - in other words, they would rather sell at 100p now than wait another few years to double again to reach 200p. They would believe that they could use the capital more profitably in the intervening time.
donkey derby
21 Jul 2016
Re: Silence despite rise Donatron - good to hear from you. All your theories and arguments are perfectly feasible.You may have seen on LSE that a poster has posted a tweet from John Sisay in the dining room of a Chinese hotel. I doubt that he is there on holiday. So I conjecture that he is there for trade negotiations or talks about a take out. It is strongly suspected that the concern that entered into talks in November 2013 during which terms could not be agreed was a Chinese concern.
Donatron
21 Jul 2016
Re: Silence despite rise I'm still here as well. I read LSE but don't post on it - there's lots of chat on there about this rise being potentially indicative of a forthcoming Pala exit strategy. Personally I don't buy that theory and for me it's a combination of:Big trade on Friday 8 July causing a squeeze on the free float and MMs increasing the bid price to encourage sales.The big rise registering on people's radars, some positive press sustaining the rise, causing new investors to buy in.Production being forecast towards the top end of expectations for 2016.A firming rutile price off the back of strong demand and lowering stockpiles.Yes, there is always the potential quick windfall from a Pala exit, but in my opinion that is not currently priced into 32p a share. Personally, I'm not even sure that the firming rutile price and solid production is fully priced in. If it were then this would be more like 50p in my humble view.That then ignores the NPV that would be added by Gangama phase 2, Sembehun and the African Lion agri business (which I speculate would be sold once it is up and running).Were the wider market to believe a Pala sale/all share bid to be imminent then the entire free float would be demolished at any price up to the average expectation of the sale price. So we would instantly ramp up to the 60-80p territory as a minimum (and for the record - I would expect the actual sale price to be higher than that). I still think, therefore, that even with the recent rise, this is a top investment and one of the stars of AIM.Just wish I had more shares, but I recently bought a classic car and have been splurging my money into restoring that. A different type of investment - might not have the same returns in the short term, but I'm sure I'll enjoy it equally as much!
