LST takeover by IRN
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     dug
Member
Username: dug
Post Number: 3006
Registered: 07-2005
Rating: N/A
Votes: 0
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| | Friday, March 28, 2008 - 01:26 pm: |  
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This appears at first check as being unsuccessful as a TakeOver.Script,NO Cash is my main reason though seeing as LST only floated 11 months ago it may be using script to avoid CGT implications?
Anyway,TakeOver possibilities is the Latest Word on Why to Buy Gold Juniors so ya gotta check out the mechanism and characteristics of TakeOver Targets if ya wanna be in it.
Now PileDrivers and Kangaroo Tails as marked on this chart are discussed in the Main Thread.
I've yet to check if any news caused that Big Green Candle just before the Gap recently ie Is such a Green Big Day an indicator of possible TakeOver Announcement?I don't know for sure so I'll look into it.
cheers
Even 'til Jaded.
Dig for the sake of it.
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stun
Member
Username: stun
Post Number: 109
Registered: 03-2004
Rating: N/A
Votes: 0
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| | Friday, March 28, 2008 - 02:41 pm: |
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LST (Lion Selection Limited) is a new entity as you pointed out DUG, but it formed from a merger between LSG (Lion Selection Group) and AusSelect.
Its code for the ten years prior prior was LSG.
They are a company which funded small cap mining companies (initially focused on gold), of course then attempting to sell their initial stake in that company down the track for a profit, which they did on quite a few occasions very successfully. see AGM for their most recent achievement.
They were undervalued in my belief, they held value of company shares well exceeding 1.50 per share, so no surprise someone thought them worthy to snap up.
‘There is a time to be long, a time to be short, and a time to go fishing.’
... Jesse Livemore
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dug
Member
Username: dug
Post Number: 3009
Registered: 07-2005
Rating: N/A
Votes: 0
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| | Friday, March 28, 2008 - 03:49 pm: |
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thanks for that background,stun but can you tell me if it was previously Listed on the ASX as LSG?
I have some morsel of info floating in my head that Lion is one of those London City Set-Ups.
I did a bit of a glance at the Dow reuters story and see that LSG owns 10%ish [maybe] of Indophil {IRN}.
I'm wondering if that has drawn the TakeOver Play of LSG out?
That IRN is in the Phillipines let alone involved with Xstrata gives me [A Long Term/Long Ago MIM holder]the "willies".
With that $40mil+ from AGM as well as your $1.50/share Asset Backing LST,stun I wonder why IRN wants them with all these other mining interests/investments?
Like is IRN wanting to go into LST's specialist angle?
Does IRN have such expertise already?
Now I know Nothing NIX about Indophil but am only making an assumption that they're Exploration Orientated rather than running a Boutique Investment House like Lion LST.
If IRN IS only a explorer than,well,they're just shooting for getting their 10% Share Holding back + the Bank Roll and a pile of shares to Sell in LST's other Holdings.
A bit too financially wangling,diddling paper shuffling action for my taste.I doubt this proposed TakeOver will go through.LST management will lose their Jobs for starters,Not really Recommendable,hey? Quite the Hostile TakeOver,don't ya reckon?
Will IRN scrap the script deal and front the Buck$ instead?That's my interest.
cheers
Even 'til Jaded.
Dig for the sake of it.
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stun
Member
Username: stun
Post Number: 110
Registered: 03-2004
Rating: N/A
Votes: 0
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| | Monday, March 31, 2008 - 10:57 am: |
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Yeah, they did trade as LSG. I cant recall any connection to London. I traded them quite a few years back when they were a nearly pure gold play. From my hazy memory they paid a good divvy.
I cannot imagine why IRN have done this, seems a pretty drastic way to get some shares back, my only other thought would be it is a good way to get a 10% plus holding in another company they may have their eyes on, by taking over LST's script in that company. No idea who this would be either! ;)
Kill two birds with one stone so to say.
Not sure what they would want in the rest of the share assets, though probably make it easy to raise exploration money with some easy to value assets behind them too.
A cash deal would knock any of those benefits on the head, so I would imagine it will only be script only.
Can't imagine they are that interested in funding other junior miners either, so would imagine that side of the business would fold, and the management lose their jobs as you say, so yeah, doesn't get much more hostile than that!
(Message edited by stun on March 31, 2008)
‘There is a time to be long, a time to be short, and a time to go fishing.’
... Jesse Livemore
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dug
Member
Username: dug
Post Number: 3016
Registered: 07-2005
Rating: N/A
Votes: 0
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| | Monday, March 31, 2008 - 11:38 am: |
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stun wrote on Monday, March 31, 2008 - 11:57 am:A cash deal would knock any of those benefits on the head, so I would imagine it will only be script only.
Wouldn't it be,stun,that a Cash Deal buying the LST shareholders out still leave all the Assets-Cash in Bank,Shares in other Companies etc.intact?
More likely in these Hard to Borrow Times they can't access a In Cash Offer.They'd rather dilute their IRN Issue.
I can't see the LST shareholders or directors going for this but will the share price flop back on Refusal or will attention be brought to the Company and it's Asset Base so the price maintains or even rises?
Do you Hold LST,stun? malfrey? anyone?
Opinions of current actual Holders would be interesting.
cheers.
Even 'til Jaded.
Dig for the sake of it.
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malfrey
Member
Username: malfrey
Post Number: 5
Registered: 02-2008Rating: N/A
Votes: 0
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| | Monday, March 31, 2008 - 09:40 pm: |
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I have bought in a small amount on the TA analysis and some brokers put an expected value of over $1 for IRN and have listed LST as Buy.
Looking at charts today, hmm have we reached a little breather or are we topping out?
smoothed rate of change and Twiggs Money flow still show upward trend.
Time will tell. (But beware of US CPI on14 April)
Malfrey
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