OTCQX:DMMIF - Post by User
Comment by
1kgcoffeeon Jan 28, 2020 11:16pm
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Post# 30611962
RE:RE:For those holding out
RE:RE:For those holding outYes, but are we not entitled to 'dissent' and ask for fair value?
After all, this takeover happened under the premise that Titan minerals was worth 18cents a share. We should be entitled to that as a minimum cash settlement. I'm not sure how the delisting process works as I've never had a front seat to this sort of thing.
Spiritflyer wrote: Hey 1kgcoffee,
You may wish to hold onto your shares or not, but lets look at recent events. Titan shares bid price is down to 13.5 (see chart below) Australian, so convert that to Canadian and times by 3.1 (promised Titan shares for 1 Core Gold share) well 3 x13.5 Australian equals 37.32 cents Canadian, and this is before the rush to get rid of Titans shares as they have not been transferred yet. So it is a cr#p shoot but at the rate Titans shares are tanking, you may be better off to keep and sell your shares as Core Gold shares as, just a personal feeling, Titan will be lucky to hold 14 cents and do believe it will be 9 cents very shortly. Everything Tad had stated about their shares tanking the minute they started to trade has come true. Titan can't even give the promised 18 cents and never could, it is why they halted their shares for months, because if most the Core Gold shareholders realized tendering the shares would not bring about a premium, they would have never given them to Titan.
But dont forget, Titan will come in and buy some of their own shares over the bid price to try and prop it up. They have been doing this before the halt and it continues today. After all look at the first chart, and then in the second chart just moments later, magically their share price is up to 15cents though the bid is 13cents and the ask is 13.5 cents (scroll down to see second chart). The ASX has been repeatedly informed of such but choose to look the other way.
So really the premium is not 3.1 that of Core Gold, Its more like less than 1 1/2 times the value of a Core Gold share. So like everything else they spout off, Titan lied to Core Shareholders about the value they would be getting. I am just hoping that Core Shareholders get some premium before the end of Titan.
When Titans shares drop to 10.5cents they will equal the 28 cents Core is trading at.
TITAN MINERALS LIMITED
Metals & Mining
0.140
29 Jan 2020 Status- RE | DAILY-0.015-9.677% | DAILY VOLUME616,771 |
MARKET CAP
90.45m | BID0.135 | OFFER0.140 |
| # SHARES 583.55m | DIVIDENDS | Most recent | - | | Dividend ex-date | - | | Dividend pay date | - | | Franking | - | | Annual dividend yield | - | |
52 WEEK
LOW 0.140HIGH 0.270 |
| | |
Prices are at least 20 minutes delayed
0.150
29 Jan 2020 Status- RE | DAILY-0.005-3.226% | DAILY VOLUME641,771 |
MARKET CAP
90.45m | BID0.130 | OFFER0.135 |
| # SHARES 583.55m | DIVIDENDS | Most recent | - | | Dividend ex-date | - | | Dividend pay date | - | | Franking | - | | Annual dividend yield | - | |
52 WEEK
LOW 0.135HIGH 0.270 |
| | |
Prices are at least 20 minutes delayed
1kgcoffee wrote: Titan has over 80% of the shares tendered, supposedly. At a supposed price equal to 0.51 in terms of share value for one core share. Now, lets assume this is all in AUD. That's equal to 0.45.
Ladies and gentleman, does this mean that those of us dissenting are entitled to at least 0.45 CAD in fair value? Since that's what being put forward as the equivalent value? I don't think they can force us to tender. And they can't make our shares just dissapear when delisting. They are extending the period not to be kind to us, but in the hope that those of us remaining will capitulate and make it easier for them. Some have already. Not me.
For those holding out, what do you consider 'fair value'? With a float of 160 million shares, lets say 10% do not tender. Does this mean they have to pay out $8 million in cash? And where will they come up with the money?
Thoughts?