The wording of the announcement isn't clear enough for me to...

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rick26

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12/09/24

09:36

Post #: 75639858
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Originally posted by gberra: ↑

Further on from my previous entry. I said I doubt that Minerva has the money to buy the shares and that imo that’s why the settlement date is in Dec, Minerva is supposedly a Li miner in china with a mine in Africa “under construction “. I doubt any Li miner in China is profitable at the moment as the Li price is atrocious. I said I thought this deal was all part of a plan eg to flush out another bid.

I want to make a few more points

Firstly - Gino knows more about Minerva than we do. If they don’t have the money then he doesn’t get his money in Dec. If they don’t have the money surely he knows this and is not concerned.

Surely he has a plan to extract value for his remaining 17 million share. The current deal could be a way to flush out another bid or a sneaky way for a major Chinese company to get their hands on 18% without revealing themselves at this stage using Minerva as a front. Surely Gino can see all this having all the other inside information - ie which companies have visited Sturec and what discussions have occurred. He’d have to be pretty stupid to knowingly “sell” 5 million shares to a company that doesn’t result in value for his remaining 17 million. The $3 million he will supposedly get is not much value for his total shareholding of 22 mil ( equiv to 13.5c / share ). He doesn’t want to sabotage another bid considering he still holds 17 million shares.

Some here have suggested that this is all part of a Chinese strategy to team up, gain control of the company cheaply and then dilute existing shareholders value to next to nothing. This would hurt Gino more than any of us, surely he can’t be so stupid to jeopardise the value of his remaining 17 million for the sake of $3 million. Furthermore, if he thought this would happen surely he would want a bigger slice of the initial windfall from Minerva. I mean “Fiona” sells 30 million shares and gets out and he only sells 5 million.

Gino has all the info that we don’t and is choosing this path. Either he has a plan to get value for his shares ( and $3 million for 22 million is not enough ) or he is an idiot.

GLTAHs

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The wording of the announcement isn't clear enough for me to come to the same conclusion as you as to who 'Minerva' actually is. It is stated that the purchaser is Minerva and Xiaowu Li who is a significant mining investor in China. It doesn't state, unless I'm reading it wrong, that Minerva is a significant mining investor in China which owns lithium mines in Africa to my eye. It may potentially be that the purchaser is a partnership of some description between Minerva and Xiaowu Li. I still feel completely in the dark as to who Minerva actually is, the mystery remains.

MTC Price at posting: 17.5¢ Sentiment: None Disclosure: Not Held
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Last 13.5¢		Change -0.005(3.57%)		Mkt cap ! $28.17M

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13.5¢	13.5¢	13.5¢	$4.835K	35.81K

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No.	Vol.	Price($)
1	9072	13.5¢

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Price($)	Vol.	No.
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0.145	96683	3
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