On its website, Supply@ME Capital (SYME) makes a lot of bold claims concerning its business proposition for its potential corporate customers such as:
Just because a company has traded at much higher share price levels it doesn’t mean that it will do so again, and that is particularly true of oil companies at the moment.
Rockrose Energy (RRE) today announced an agreed all cash takeover at 1850p, which is a substantial premium to Fridays close of 1130p. I did not like elements of the business and called it a sell back in March and avoid at the May Share show in my chat with Tom Winnifrith. Given the share price was around 706p on the first call and 900p at the second– I think that’s called getting it very wrong. I talked Tom out of buying the shares and so have cost him £9,000 and as a result my career with Shareprophets hangs in the balance.
Alberto Lavandeiro, chief executive officer of unfashionable copper hopeful Atalaya Mining (ATYM), says the company is on schedule to begin commercial production on 1 February from Riotinto, its historic Spanish mine near Seville boasting a potential resource of 940,000 tonnes at a modest copper grade of nearly 0.5%.
This release should have gone out on Friday but I guess it will go out at 7 AM Monday. In case you can’t wait here is the EMED Mining (EMED) RNS in full and it is good news but EMED is not out of the woods yet. I have also been chatting to the EMED CEO over the weekend – he seems a decent enough guy.
This has been a bad share tip. The macro scene has been unhelpful but whichever management team has been in charge EMED Mining (EMED) has not prospered. The latest revelation prompts us to apologise sincerely but to advise selling at 3.25p. Enough is enough.
EMED Mining (EMED) updated investors on 23rd February on “rapid progress being made in the development of onsite operations” at its Rio Tinto copper project and that “we remain in advanced discussions with our funding partners and are confident of securing the financing for the re-start of production without delays to the company's anticipated timetable”.
EMED Mining (EMED) is seeking to assemble a financing package worth at least $150 million (£100 million) to restart the historic Rio Tinto copper mine near Seville in Spain after winning final approval for its mining and restoration plan there. The AIM-quoted company is discussing funding alternatives with several groups including its three key backers, the $82 billion Dutch commodity group Trafigura Beheer, US-based Orion Mining Finance and China’s Xianguang Copper, following the favourable decision by the government of the Province of Andalusia
Having initially requisitioned an EGM to ‘bring about much-needed change’ at EMED Mining (EMED), it has been announced that multinational commodities group Trafigura in conjunction with other cornerstone investors in EMED, Orion Mine Finance and Xiangguang International, has now conditionally agreed a $24 million, and up to $30 million, bridging finance facility with the company in conjunction with Ronnie Beevor, Isaac Querub Caro, Ashwath Mehra and Bob Francis all agreeing to resign from the board, with a new Chairman (Roger Davey) and CEO (Alberto Lavandeira) appointed.
Alberto Lavendeira, new chief executive officer at copper hopeful EMED Mining (EMED), sounds confident the AIM-quoted company will receive permission ‘in the first or second week of January’ to restore copper production at the historic Rio Tinto mine in the Spanish province of Andalusia, after a series of corporate upheavals and the departure of most of the AIM-quoted company’s previous board.
Multinational commodities group Trafigura, the largest shareholder in EMED Mining (EMED), has called an EGM to vote on the removal of most of its board to ‘bring about much-needed change’. Steve Moore and I back Trafigura and urge you to cast proxy votes in support of the calls for change. Small investors, the peasants, can make a difference here and the current board has given the peasants every reason to revolt.
Multinational commodities group Trafigura, largest shareholder in AIM and Toronto-quoted EMED Mining (EMED), has stirred a flurry in the company’s shares by calling for the removal of most of its board to ‘bring about much-needed change’. Having spent some £18 million earlier this year buying an 18% stake in EMED, Trafigura has called for a special investors’ meeting, claiming the present EMED board, under chairman Ronnie Beevor and chief executive officer Isaac Querub, ’is failing to serve the interests of shareholders’ and arguing the company, as currently constituted, lacks the financial resources and management capabilities to achieve its goal of reopening the historic Rio Tinto copper mine in the Spanish province of Andalusia.
It has been announced that Trafigura Beheer B.V. has, at 9p per share, acquired a further 30,856,481 shares in EMED Mining (EMED) – taking its interest to 259,029,997 shares (18.04% of EMED). This follows stakebuilding earlier this month and a subsequent placing which then somewhat diluted Trafigura’s percentage interest. It is again stated today that “Trafigura has stated that it has acquired the ordinary shares for investment purposes”.