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Recovered a little from old age
possibly some good news after 11 years waiting for the court case --the bump I was looking for back then. Watched the share price move to £2 came back of holiday and shafted back then cant remember the date . This share will dissapoint again at year end .Its a line your pocket director share. if some on this board were running the company there is a fair chance we could not do any worsre, with the exeption on a few idiots like 999. Best wishes to my old pals for xmas and the new year.
Well said Market, but you forgot to mention the inept marketing of CEY and absent communications team.
Plenty of good news, e.g. EDX, court case won, positive reserves increase etc, so why are CEY communications not shouting it from the roof tops.
To help change the view that CEY is a troubld prone sub 500k gold producer that delivers albeit scraping through at bottom end of range.
I believe CEY workers are doing a good job but that the management team need to step up and do more to change the image of CEY and hence the SP.
If it was an end of term school report CEY management are scaping by with a B minus, needs to improve.
When cey again becomes a 500k plus gold producer with $300m in cash then the share price will return to the 2.00 territory, propelled by no other means.
Agree Razor.
If CEY was run by some on this board, there wouldn’t be a board for them to constantly whinge and whine on, as CEY would have gone bust a while ago.
Some on this board were decent enough to believe in the management were acting responsibly and professionally , that is running Sukari and the other operations with the appropriate due diligence and good mining practice, further more and of equal importance being open and honest with the shareholders who gave the management the benefit of the doubt when there were problems over the years, but unfortunately the previous management instead of changing their ways continued to have the shareholders leg up!
All we have at present is a share price and dividends that have been halved for over three years so I an justified to continue to remind everyone that all we have at the present is promises, not delivery of those promises, those being substantially reduced AISC with increased share price and dividend achieved by sustainable guidance.
When this is achieved then then I will give the appropriate recognition, until then I shall continue with my reminders which you can ignore, or of course choose to frequent another forum!
Mr tibbs
Lot of frustration on Shanta Board with the company selling itself on the cheap. Certainly hope it does not happen here on a takeover or management buy out. Tony
Best wishes to Mr T and the other LTHolders from a damp and windy Gloucestershire. At 105p I would be back in profit : ) .
I presume most of the recent rise is due to the rise in the price of gold. I plan to hold for another year or two.
I am sure I am not alone in understanding their frustrations because they have been fed baloney by the Shanta management, unfortunately this deliberate deception of shareholders, or the glossing over of cracks in company strategy seems to be all too common practice by far too many mining company boards!
Nunquam I guess it is mainly the GP but also bubbling under is the fact that extensive investment in the open pit and underground is starting to make itself felt. Look at the increase in resources, they've been growing faster than they can get the gold out of the ground for the last three years. Also base efficiencies such as tonnes hauled per truck are all on the up and costs heading in the right direction at last. Your 105 is in the bank as far as I'm concerned. I hope to see a run up past 110 on Q4 results if the GP holds and may take a little profit if that happens but CEY is still a LTH for me..
I find it interesting that expectations are for Sukari to produce over 500,000 ounces per annum. As far as I am aware the early LOM plan was always 450 to 500,000 ounces pa.
I do appreciate over 500 thousand has been achieved but this came at a cost and by creating short cuts and the need to throw money at correcting errors.
OK I appreciate the proof is still to be delivered and as I have already said this quarter is crucial but it does now look as though we are back to a structured mine with a number of faces open to ore.
GLA
Hi Somnamna,
You are quite right about the lack of information available or action by Centamin@s new PR company although to be fair to them this is why they were appointed and to be fair they are working to the company brief which has decided that silence between quarterly updates is how they want to play it.
I wrote to Centamin asking for the rationale behind the decision to change to FTI from Buchanan. the latter whom had a much better understanding of Sukari, gold mining and the historic events of Centamin's Egyptian operation, I received no reply!
Disappointing to say the least, but not surprising , however after making further enquiries I am pretty sure that the new management felt that Buchanan knew too much about the past and were too willing to answer shareholders questions as honestly as they were able whilst complying with company policy and market regulations.
Make of my statement as you will , but my opinion is based on the facts available to me , not fiction fiction which unfortunately has all too often been the case with Centamin in the past !
Fair comments Dasut .
Mr Tibbs the more I have looked deeper into Shanta, I realise that the entire process is cancelled if a higher offer above 10% of what was proposed and the superior bid is taken. It is the first step in trying to sell the company. If Centamin wanted several million ounces of gold, they could bid $155M to get it and that delivers a brand new mine that cost $45M to build. Shanta would add 90,000 to 100,000 more ounces per year for the next 4 years at least which equates to 10 months of existing production. $400 an ounce profit would earn back the $155M but they will have all subsequent years as profit and the entire West Kenyan resource asset with grades above 5g/tonne for 3M ounces. Lot better metrics then Doropo.
Maybe that applies to you also , who wants to listen to copy and paste crap .
Hi Tornado, so from your research information then this may not be a A fait accompli?
Tibbs
News
Shanta Gold accepts GBP140 million takeover offer from ETC Holdings
(Alliance News) - Shanta Gold Ltd on Wednesday said its board has agreed to an all-cash takeover ...
Alliance News
20 December, 2023 | 1:40PM
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(Alliance News) - Shanta Gold Ltd on Wednesday said its board has agreed to an all-cash takeover offer from industrial conglomerate ETG that values East Africa-focused gold producer at just above GBP140 million.
Saturn Resources Ltd, a wholly-owned subsidiary of ETC Holdings (Mauritius) Ltd, offered 13.5 pence per Shanta share in cash, valuing all its equity at GBP142.0 million. Shanta shareholders also will receive an interim dividend of up to 0.15p to be declared by the Shanta board and paid prior to the takeover.
Shanta shares were up 2.4% at 12.95p on Wednesday afternoon in London. The stock is up 41% over the past year.
ETC Holdings is an investing company that is the controlling shareholder of ETC Group. The industrial conglomerate, which trades as ETG, operates in agricultural commodities, metal and energy. It also encompasses agricultural inputs and logistics, as well as other businesses.
ETG is controlled by Ketan Patel, Birju Patel and Mahesh Patel, with Ketan Patel already a member of the Shanta board.
The offer for Shanta has been accepted by its first and second largest shareholder, with 8.7% and 8.6% voting rights each, as well as by Shanta directors representing another 1.9%. It has 19.2% acceptances for the offer in total so far.
"As a shareholder in Shanta, we remain supportive of management and their strategy," Ketan Patel said. "However, we believe that Shanta's share price may inhibit Shanta's ability to deliver on its strategy and potential to maximise future shareholder returns."
Patel added: "As part of ETC Holdings, Shanta will benefit from the experience and connections of ETC Holdings and ETG in East Africa and as a result, have additional support during the currently heightened levels of macro-instability."
By Tom Waite, Alliance News editor
Bustahog,
I doubt there there is any likelihood of your past posts ever being copied and pasted, now that would be a pointless exercise!
Yes Mr Tibbs
It was a very long RNS with several appendixes. Superior offer scenario is in black and white and providing it is at 14.85p or higher it constitutes being a superior offer (+10%). The board are market testing the sales price and the real bonus for an acquirer is the West Kenya asset which they have invested around $40M to date which is valued at nothing in that superior offer price.
Tony Shanta is a good junior that needs considerable funds to bring West Kenya to fruition and not sure I can see it being a large enough carrot for any of the larger mining houses. Barrick has been mentioned but they once owned it if memory serves me correctly.
I am not sure what it is about Kenyan mining properties because back in the day I did extensive trips through Uganda in particular the Karamoja region (didn't stay long too dangerous) but an area the geologists tell me is mineral rich, through Kenya and called in at several prospective camps one of which is now called West Kenya, on down to North Mara, staying in Mwanza and looking at many prospects including Geita which at that time was being worked by a husband and wife team of geologists and they were absolutely brilliant hosts and so knowledgeable about the concession areas that were looking to develop. Geita as far as they were concerned would be the jewel in the crown for Tanzania with all other areas relatively small in comparison. They were proven to be right and at that time Barrick had a team of people working out of Dar Es Salaam with about 5 different concession areas in their portfolio. From memory I think 4 of them came to fruition and two are still going Bulyanhulu and North Mara.
Another fascinating visit back then was to the old colonial Williamson Diamond Mine if you get a chance I think might be worth a google because old man Williamson was quite a character. I might google it myself to see if there is much on the net about it and him because fascinating story of how he had a gut feeling that paid off.
Sorry I digress.
I think Shanta needs someone with deep pockets to come on board if they are to get West Kenya up and running and I hope it happens because the juniors are the life blood of the mining sector and Kenya could do with a productive gold mine at long last.
Happy Christmas and prosperous healthy 2024 to you all