Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

A reminder to all members that you agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


  
 
  
Reply to this topic

NZC, NZURI COPPER LIMITED
blacksheep
post Posted: Feb 27 2019, 10:26 AM
  Quote Post


Posts: 6,791
Thanks: 2307


SP up 21.15% @ 31.5c
NZURI RECEIVES CASH ACQUISITION PROPOSAL FROM CHENGTUN MINING GROUP WITH ATTRACTIVE PREMIUM
QUOTE
Directors recommend proposed transaction with all-cash consideration of $0.37 cash per share, providing an
opportunity for shareholders to crystallise a certain cash outcome for their shares at an attractive premium
Highlights
x Nzuri has entered into a Scheme Implementation Deed with Xuchen International Limited (“Chengtun
Bidder”), a subsidiary of leading Chinese metals mining, trading and industrial group Chengtun Mining
Group Co., Ltd (“Chengtun Mining”) (together, “Chengtun”), under which it is proposed that Chengtun
Bidder will acquire 100% of the share capital of Nzuri by way of a Scheme of Arrangement.
x Nzuri received the current acquisition proposal from Chengtun Bidder while advancing discussions to
fund the construction of the Kalongwe Project. These included extensive discussions with Chengtun
dating back to 2017 regarding potential off-take, funding and other opportunities for strategic
cooperation.
x If the Scheme is implemented, Nzuri shareholders will be entitled to $0.37 cash per share, which
represents an attractive premium, including:
ƒ A 42% premium to the closing price of Nzuri shares on the ASX on 26 February 2019;
ƒ A 93% premium to the 30-day VWAP of Nzuri shares on the ASX; and
ƒ A 64% premium to the 3-month VWAP of Nzuri shares on the ASX.
x Chengtun is a major player in the Kolwezi region of the DRC, having recently completed a major new
US$150 million SX-EW processing facility with a cobalt hydroxide circuit, which will have many synergies
with Nzuri’s flagship Kalongwe Copper-Cobalt Project.
x Chengtun Bidder has also agreed to provide Nzuri with interim funding by way of a secured loan, in the
amount of up to A$5M, to support ongoing pre-development activities at the Kalongwe Copper-Cobalt
Project.
x The Directors of Nzuri unanimously recommend that Nzuri shareholders vote in favour of the Scheme,
subject to the Independent Expert determining that the Scheme is in the best interests of Nzuri
shareholders and no superior proposal emerging.

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
myshares
post Posted: May 4 2018, 12:28 AM
  Quote Post


Posts: 166
Thanks: 100


In Reply To: blacksheep's post @ May 3 2018, 09:49 PM

Musk is outspoken and ahead of his game - but not as easy as he says

He is also very biased in terms of his sources (hence Syrah and Louisiana for BAM)



 
blacksheep
post Posted: May 3 2018, 09:49 PM
  Quote Post


Posts: 6,791
Thanks: 2307


In Reply To: myshares's post @ May 3 2018, 09:23 PM

Shorts could also be responding to Elon Musks recent comments about cobalt -

QUOTE
Tesla’s announcement that it has sharply reduced the amount of cobalt that it uses could hit demand for the battery metal, whose price has quadrupled since 2016.
-

QUOTE
“We think we can get the cobalt to almost nothing,” Mr Musk said.


https://www.ft.com/content/1c154770-4eb6-11...a9-37318e776bab



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: May 3 2018, 09:32 PM
  Quote Post


Posts: 6,791
Thanks: 2307


In Reply To: myshares's post @ May 3 2018, 09:23 PM

A couple - after a quickie look biggrin.gif on HC

1. NCZ appear as a paid advertiser on HC
2. Paid corporate spotlight updates on HC
3. The presence of an active luv heart on HC eating the drum

All 3 are red flags for me - good projects don't need this type of promotion IMHO

That's just a quick cursory glance at the front page - no in depth analysis biggrin.gif



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
myshares
post Posted: May 3 2018, 09:23 PM
  Quote Post


Posts: 166
Thanks: 100


In Reply To: blacksheep's post @ May 3 2018, 09:06 PM

Always a worry as to why Shorts appear

Very tightly held - with Top 20 holding 88.7 %

It is not Gecamines ... it has a JORC in place.. and a good stage 2 plan ahead...plenty of infrastructure around it

I think shorts trying to take advantage of negative DRC sediment...?

Did you see any other red flags ??

 
blacksheep
post Posted: May 3 2018, 09:06 PM
  Quote Post


Posts: 6,791
Thanks: 2307


Haven't followed this company but just noticed a notable short alert reported by Shortman yesterday - mystocks (you follow) any reason you can think of?

QUOTE
Wed 2nd May, 2018 1,649,292 270,187,833 0.61% 1,791,560 92.06%


https://www.shortman.com.au/stock?q=nzc
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: myshares  
 
 



Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING