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Golden Energy new
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fruitfulness
Veteran |
08-May-2023 15:33
Yells: "May the Lord God establish the works of my hands!" |
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Presently, we are patiently waiting for the IFA report and the Independent Directors' recommendation. As far as GEMS Indonesia component, investors like us could take it as settled. Afterall, they have voted to distribute the GEMS shares, to be priced at 6500 INR per share at a stated S$-INR exchg rate. At the current Stanmore Resources share price of A$2.92 and Golden' s share of 50% of Ravenstock (worth between S$200 and S$465m), these components are worth about S$0.648 to S$0.748 per Golden Energy share. And the Widjajas are only offering $0.181 per share as the cash exit offer. This is highly unacceptable. It cannot withstand scrutiny by SGX RegCo. I think should be revised to at least $0.32 or $0.34 cash exit offer to put small investors' mind at ease! Time to give a final uplift of the low ball figure before the IFA report come out! |
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desmondxyz
Veteran |
03-May-2023 15:40
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The annoucement yesterday is to update the satisfaction of some conditions stated in (a) and (b) below: 2.3 Satisfaction of Certain Distribution Conditions and Exit Offer Conditions. The Company and the Offeror wish to update Shareholders that (a) the DSS Shareholder Approval was duly obtained from the independent shareholders of DSS at an extraordinary general meeting of DSS held on 2 May 2023 and (b) no objection has been received from the OJK and IDX in respect of the Proposed Distribution and the sale by DSS of all its Shares to the Offeror. There are still other conditions need to be met before the deal can go through.
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Everyday
Elite |
03-May-2023 11:21
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Revised Mar 2023 offer : All cash - S$0.964 GEMS shares and cash -S$1.045 (illustrative consideration)
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Everyday
Elite |
03-May-2023 08:53
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Not sure why they made this sgx announcement last night
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ysh2006
Supreme |
03-May-2023 08:19
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I supposed you got old news ,? Cash offer upgraded in March already...
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Everyday
Elite |
03-May-2023 08:11
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Tender/Acquisition/takeover/Purchase Offer: Voluntary All cash - S$0.846, GEMS shares and cash -S$1.045 (illustrative consideration) https://links.sgx.com/1.0.0/corporate-announcements/D1N3IHLX7N991OT7/20a412aec3ce1aa9b7523b45779d267dbfd15af206d8fede68e9c2e3ac535f6a# |
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fruitfulness
Veteran |
30-Apr-2023 15:28
Yells: "May the Lord God establish the works of my hands!" |
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Let them settle the DSSA' s vote (2 May) and clear the GEMS Indonesia part and then hopefully finalize the final the exit cash offer with us! (Push down to below offer price before the vote there!)
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ysh2006
Supreme |
27-Apr-2023 12:27
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Already up once ....need to wait 3-4 mths before the deal get through that is what they announced ....
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bechaotic
Member |
27-Apr-2023 10:45
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Wow, Golden Energy thread why so quite? Also, share price fell back to their proposed offer price. So, game over? | ||||
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Catrade
Master |
10-Apr-2023 21:35
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Great investment Fruitfulness! Happy to know that u r within the top 20 shareholders of GEAR. Since Golden Energy share price consistently traded above the Exit offer price of 97.3c, I' m quite certain an upgraded Exit offer is coming before DSSA' s Vote (2May' 23) to reflect a more realistic, fair n reasonable value of the 3 GEAR' s valuable assets - Golden Energy Mines, Stanmore Resources n Ravenswood Gold mine. SGX_RegCo is watching closely the coming report from the IFA.
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fruitfulness
Veteran |
10-Apr-2023 15:07
Yells: "May the Lord God establish the works of my hands!" |
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GEAR will do well to raise the total exit cash offer price to $1.12 per share at least (from the current $0.973 per share, on the table) before the voting by GEMS Indonesia. I believe most Golden minority shareholders will not be at odds with how GEAR intended to distribute the GEMS shares or the cash equivalent it has offered. But as for the Stanmore and Ravenstock components, GEAR has not given a fair and reasonable exit cash offer. Offering 32 cts (instead of 18.1 cts) for Stanmore+Ravenstock will certainly satisfy me. I am pleasantly surprised to see myself listed as one of the 20 top shareholders of GEAR in the latest AR. (I trust the Singaporean independent directors Paul Liao and Lew Syn Pau will make credible representations on behalf of the minority shareholders)
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Catrade
Master |
07-Apr-2023 16:38
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Golden Energy (GER SP): Annual Report Data Points Further Underscore a Low-Balled Offer
The annual report released today provides data points to value the largely ignored Ravenswood gold asset. GEAR' s 50% Ravenswood stake is worth S$200-465m which suggests a SOTP valuation of S$1.40. |
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wehuattogether88
Supreme |
06-Apr-2023 15:11
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That means that Golden at current price of S$1.02-S$1.03 is still dirt cheap price if you are looking at S$1.40 to S$1.50 range.
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muifan
Supreme |
06-Apr-2023 14:55
Yells: "Take the leap of faith dont regret 20 years later!" |
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When $3000 gold hits , they have to offer $1.50?? | ||||
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Catrade
Master |
06-Apr-2023 14:18
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Golden Energy FY2022 audited result is out. Just based on EPS of US27.5c (S36.56c), within 3 yrs(2022-2024) its share will be free. Widjaja family knows it?s potential n profitability of this golden goose, except they r too greedy to buy it cheap ! | ||||
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wehuattogether88
Supreme |
06-Apr-2023 13:37
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The recommendation from IFA will now be fully scrutized by SGX, they had better come out and propose with a fairer offer price.
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Catrade
Master |
06-Apr-2023 13:35
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👍 Fully agree with u.
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wehuattogether88
Supreme |
06-Apr-2023 09:52
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I look at Golden, the longer the IFA drag, the higher price Golden will go UP. | ||||
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TA_Expert
Supreme |
06-Apr-2023 01:53
Yells: "The World has changed" |
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Minority shareholders should think very carefully to sell cheap to the buyer(s). OPEC has already reduced oil production. Energy prices will remain high for a long time. |
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Catrade
Master |
06-Apr-2023 00:38
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GEAR n EMR Capital (50-50%) purchased Ravenswood Gold Mine on Jan' 2020 for A$300m is a good buy. At that time gold price was abt US$1.4-1.5K/oz, now gold has shot up to US$2.03K/oz, definitely its valuation is much higher. Last year, Resolute carried out a strategic review of the project to update the previously published Ravenswood Expansion Project (REP) study. The REP strategic review supported higher throughput and production rates at the mine than estimated in earlier REP studies. It is estimated Ravenswood has the potentiality to deliver around 200,000oz of gold annually for 15 years from 2022, following completion of REP. This really makes Widjaja Exit offers on Golden Energy too Lowball. Looking for another upward revision soon, since the traded price is above the last cash offer of 97.3c. |
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