Word abonnee en neem Beursduivel Premium
Rode planeet als pijlen grid met hoorntjes Beursduivel

Edelmetalen Terug naar discussie overzicht

Minera Andes, deal Hochschild

74 Posts
Pagina: 1 2 3 4 »» | Laatste | Omlaag ↓
  1. smith&jones 22 mei 2008 13:00
    ..iemand meer info?

    WEDNESDAY, MAY 21
    Minera Andes; the latest word looks very good
    Word from reliable sources is that Hochschild (HOC.L) has offered Minera Andes (MAI.to) U$250m for the 49% of the San José silver/gold mine that HOC doesn't already own. MAI is holding out for U$300m, but a deal is likely to happen.

    MAI.to currently has 188.9m shares outstanding, and 223m fully diluted (most options/warrants are in the money). So if we use the fully diluted count, $300m would work out at U$1.35 cash per share, which is extremely sexy for a company currently quoted at $1.37 (in loonies). Minera would then have the cash on hand to move forward seriously on its wholly owned Los Azules copper project, also in Argentina, that has been returning very good drill results recently. Minera has other exploration-stage project in the region, too.

    S&J.

  2. [verwijderd] 22 mei 2008 15:20
    Hi SJ,

    Had hem al op de daytraderschat gezet en heb al eerder vernomen dat H belangstelling had. Lijkt me serieus allemaal.
    mvg

    GH

    quote:

    smith&jones schreef:

    ..iemand meer info?

    WEDNESDAY, MAY 21
    Minera Andes; the latest word looks very good
    Word from reliable sources is that Hochschild (HOC.L) has offered Minera Andes (MAI.to) U$250m for the 49% of the San José silver/gold mine that HOC doesn't already own. MAI is holding out for U$300m, but a deal is likely to happen.

    MAI.to currently has 188.9m shares outstanding, and 223m fully diluted (most options/warrants are in the money). So if we use the fully diluted count, $300m would work out at U$1.35 cash per share, which is extremely sexy for a company currently quoted at $1.37 (in loonies). Minera would then have the cash on hand to move forward seriously on its wholly owned Los Azules copper project, also in Argentina, that has been returning very good drill results recently. Minera has other exploration-stage project in the region, too.

    S&J.

  3. smith&jones 29 januari 2009 00:50
    Zit echter nog een vuiltje....

    ouder bericht, maar daarom niet minder belangrijk:

    S&J.

    Attention Business Editors:

    Minera Andes anticipates cash call at the San José project

    <<
    TSX: MAI
    NASD-OTCBB: MNEAF
    >>

    SPOKANE, WA, Dec. 19 /CNW/ - Minera Andes Inc. (TSX: MAI and US OTC:
    MNEAF) - Minera Andes Inc. ("MAI") announced that following a meeting of the
    shareholders of Minera Santa Cruz, S.A. ("MSC") on December 17, 2008, the
    shareholders of MSC can expect to receive a cash call of US$23 million to
    finance further expansion and development of the San José project. MSC is
    owned, indirectly, as to 51% by Hochschild Mining plc ("Hochschild") and as to
    49% by MAI. MSC is the registered owner of the San José gold project in
    Argentina. MAI's share of the cash call is approximately US$11.3 million,
    payable by mid-February, 2009. Failure by MAI to pay this amount when due will
    result in a dilution of MAI's interest in MSC below 49%. MAI is investigating
    financing alternatives available to it.
    This request for additional funding is being made notwithstanding
    previous assurances by Hochschild that additional cash calls would not be
    required as the mill and plant are operating and Phase I of the initial
    expansion has been completed. Further plant expansion costs were therefore
    expected to be paid from cash flow.
  4. smith&jones 2 februari 2009 16:15
    Heb MAI alweer vele maanden geleden met een klein winstje verkocht.

    Koers is nu erg ver teruggelopen, maar inderdaad gooit de cash call nu roet in het eten...

    MAI weet kennelijk niet waar ze de benodigde $11,3 mio vandaan kunnen halen om verwatering van hun aandeel in San Jose tegen te gaan.

    Benieuwd of MAI nog met alternatieven komt...

    Koers licht teruggelopen, maar de dag is nog lang...

    S&J.

    Thomson Financial News
    BRIEF-Minera Andes continuous disclosure review
    02.02.09, 08:45 AM EST

    Feb 2 (Reuters) - Minera Andes Inc:

    * Continuous disclosure review

    Article Controls

    * Says failure to pay amount due may result in reduction of interest in the san

    josé project

    * Says assessing all options available to raise required financing to pay the

    cash call of $11.3 million
  5. smith&jones 11 februari 2009 19:28
    Verrek, deze had ik gemist op 8 feb: een citaat uit onderstaand bericht: ( dwz alle korte termijn liabilities van MAI zijn daarmee opgelost. Met deze info had ik kunnen weten dat de koers omhoog zou schieten, en ruimschoots bijtijds in kunnen kopen).

    MAI inmiddels op $0,50...
    S&J.

    The announcement made by Hochschild was a direct response to the Corporation's news release of February 8 announcing that the Corporation had entered into a letter agreement with Robert R. McEwen, a director and existing shareholder of the Corporation, pursuant to which Mr. McEwen or an affiliate of Mr. McEwen will purchase, on a private placement basis, 121,212,121 common shares of the Corporation at a price of C$0.33 per share, for proceeds of C$40.0 million

    Minera Andes responds to Hochschild Mining plc




    TSX: MAI
    NASD-OTCBB: MNEAF

    SPOKANE, WA, Feb. 11 /PRNewswire-FirstCall/ - Minera Andes Inc. (the "Corporation" or "Minera Andes", TSX:MAI and US OTC:MNEAF) responds today to a news release issued by Hochschild Mining plc ("Hochschild") announcing that Hochschild had made "firm proposals" to Minera Andes for the acquisition of its 49% interest in the San Jose Project or for the acquisition of all of Minera Andes' shares by way of a plan of arrangement.

    The announcement made by Hochschild was a direct response to the Corporation's news release of February 8 announcing that the Corporation had entered into a letter agreement with Robert R. McEwen, a director and existing shareholder of the Corporation, pursuant to which Mr. McEwen or an affiliate of Mr. McEwen will purchase, on a private placement basis, 121,212,121 common shares of the Corporation at a price of C$0.33 per share, for proceeds of C$40.0 million.

    The express primary purpose of the proceeds from the private placement with Mr. McEwen is to provide the Corporation with the funds necessary to (i) pay the outstanding cash call of US$11.3 million made by Minera Santa Cruz S.A., which is controlled by Hochschild, so that the Corporation may maintain its 49% interest in the San Jose Project; and (ii) repay the aggregate principal amount of US$17.5 million owing by the Corporation to Macquarie Bank Limited ("Macquarie"), US$7.5 million of which is due on or about March 7, 2009 and US$10 million of which is due in September 2009. The Corporation is currently in default under its credit agreement with Macquarie, entitling Macquarie to demand, upon seven days notice, payment of the entire principal amount of US$17.5 million. The Corporation's obligations to Macquarie are secured by all of the Corporation's present and after-acquired property.

    The proposals made by Hochschild were received by the Corporation on February 6, 2009, after a letter agreement had been entered into with Mr. McEwen. The proposals were thereafter considered by a special committee (the "Special Committee") comprised of independent directors of the Corporation, together with financial advisors to the Special Committee (Capital West Partners) and separate financial advisors to the Corporation (Scotia Capital Inc.). Financial advisors had been engaged by the Special Committee and the Corporation in 2007 to consider, among others, similar proposals by Hochschild.

    In reviewing the proposals made by Hochschild, the Special Committee and
    its financial advisors took into consideration, a number of factors, including
    without limitation and in no particular order, the following:

    - the Corporation had engaged in previous discussions with Hochschild
    as to a possible business combination similar to the transaction set
    out in the Hochschild proposals, but the parties were continually
    unable to come to terms;

    - the Corporation's previous requests for an extension of the
    February 17, 2009 deadline to complete the cash call for the San Jose
    Project had been refused by Hochschild;

    - any transaction with Hochschild would have taken time to discuss and
    complete, in which time the Corporation's obligations to Macquarie
    Bank Limited would come due;

    - if an extension of the deadline for the cash call been granted for
    the purposes of discussing with Hochschild its proposals, pursuing
    those discussions would have resulted in a withdrawal of Mr. McEwen's
    offer, significantly weakening the Corporation's negotiating position
    with Hochschild and placing the Corporation in a precarious position,
    should discussions with Hochschild be unsuccessful (as they had many
    times in the past) and the moratorium on the cash call lifted;

    - in the event discussions with Hochschild were unsuccessful and the
    Corporation was unable to pay the required cash call in the
    undetermined and uncertain amount of time in which the Corporation
    would be provided by Hochschild to do so, its 49% interest in the San
    Jose Project would be reduced to approximately 38% compromising the
    security held by Macquarie and possibly causing all amounts due
    thereunder to become immediately due and payable and/or forcing the
    Corporation to complete a distressed financing or disposition of its
    assets; and

    - the transaction with Mr. McEwen, if completed, will alleviate the
    Corporation's distressed financial position, thereby increasing the
    Corporation's negotiating position with Hochschild and any other
    potential acquirors.

    In effect it was determined that only by first rectifying the Corporation's financial situation and, in particular, maintaining its 49% interest in the San Jose Project, could the Corporation consider the Hochschild proposals and any other strategic alternative that would maximize shareholder value.

    As such, based on the advice of both advisors, the Special Committee determined, that the proposed private placement with Mr. McEwen was fair, from a financial point of view, to the shareholders of the Corporation other than Mr. McEwen.

    The news release issued by Hochschild was preceded by a request made by Hochschild to the TSX and Ontario Securities Commission, to re-examine and reconsider the availability of the hardship exemption, upon which the Corporation was relying upon to complete the private placement with Mr. McEwen without convening a shareholder meeting. Such a shareholder meeting would have necessarily occurred after the deadline for payment of the cash call, even as extended by Hochschild to March 3, 2009. Simply put, without the availability of the hardship exemption, there can be no assurance that the Corporation will be able to (i) meet the cash call and maintain its interest in the San Jose Project; and (ii) repay its obligations to Macquarie as scheduled to come due, or as they may be accelerated by Macquarie.

    In respect of the cash call due on March 3, 2009, as a result of foreign investment restrictions in Argentina, a transfer of funds must be initiated by the Corporation on or about February 23, 2009.

    Accordingly, the Special Committee is of the view that Hochschild's motivation in issuing its news release dated February 9, 2009 and making the related submission to the TSX and OSC is to delay or cause a termination of the proposed private placement with Mr. McEwen, in turn causing the Corporation to fail to satisfy the cash call, thereby reducing its
  6. smith&jones 11 februari 2009 20:26
    Hochschild bood: CD 250 mio.

    Op plm 200 mio aandelen plus de 120 mio nieuwe geeft dat een SP van 0,78 Canadian.

    Afhandkelijk van het bod heeft MAI straks plm C$ 0,60 en C$ 1.00 in huis.... CASH
    En dat binnen niet al te lange tijd...

    Ergo:
    net ingestapt op C$ 0,49.

    (balen dat mijn bod op C$ 0,35 het net niet haalde vorige week...)

    S&J
  7. smith&jones 13 februari 2009 22:24
    ..Het zit dus anders:
    Bod Hochschild is $100 mio nowadays. Waardeloos bod.

    De C$ 40 mio capital raise brengt MAI uit de gevarenzone, al levert het een enorme verwatering op. Het zal er in ieder geval toe leiden dat MAI niet voor deze belachelijke prijs van de hand gaat.

    Wel jammer.
    Bij plm 220 mio aandelen is $100 mio ongeveer de huidige SP ( C$ 0,48) in cash per aandeel.

    S&J.

    New! Day Trading
    LONDON, Feb 13, 2009 (Dow Jones Commodities News via Comtex) -- MNEAF | Quote | Chart | News | PowerRating -- Hochschild Mining PLC (HOC.LN) said Friday it has extended its offer to buy joint venture partner Minera Andes Inc. (MAI.T).
    Its offer to the company's board, which expired at 1700 GMT Wednesday, has now been extended to 2200 GMT Friday.

    The South American miner, which is listed in London, earlier this week said it had offered to buy Minera Andes for about $100 million. As an alternative, it also offered to pay $70 million for its 49% stake in the San Jose mine, a joint venture between Hochschild and Minera Andes in Peru. Hochschild revealed its offer after Minera said it instead planned to raise C$40 million from one of its directors, a deal that would have handed the director a 54% stake in the firm.

    Minera Andes needed funding to meet a cash call to cover costs at the San Jose mine, and to pay off a debt.

    Also Friday, Hochschild said it will offer Minera Andes further financial assistance if it agrees to proceed with either of its proposals.

    Company Web site: www.hochschild.com

    -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com

    (END) Dow Jones Newswires

    02-13-09 0207ET

    For full details for HCHDF click here.
    Free Trading Education with Larry Connors



    More News: Market Updates | Stock Alerts | All Trading News | Stock Index

    EmailPrintArchivesFeedbackEmail Article LinkClose X
    Recipients email address
    Your name
    Your email
    Add a note (optional)





    Related News [HCHDF]
    DJ Hochschild Mining Extends Deadline For Minera Andes Offer

    DJ Hochschild Reveals Minera Offer After JV Partner Seeks Cash

    = 3rd UPDATE: Hochschild Mining Makes Offer For Minera Andes

    Minera Andes responds to Hochschild Mining plc

    = UPDATE: Hochschild Reveals Minera Offer After It Seeks Cash

    More News >>

  8. smith&jones 17 februari 2009 22:54
    Zo, bod Hochschild idd afgewezen.

    Koers 56% up, naar de C$0,76
    Zo te zien kunnen we nu minimaal naar de C$1.00.

    Verleidelijk om nu te verkopen, 56% in een paar dagen.....

    Niet slecht voor een handeltje vanaf het strand...
    Toch nog maar even vasthouden.

    S&J.

    Feb. 17, 2009 -- Minera Andes Inc. (the "Corporation" or "Minera Andes", (TSX: MAI) and US (OTCBB: MNEAF | Quote | Chart | News | PowerRating) announced today that it has agreed with Robert R. McEwen, a director and existing shareholder of the Corporation, to amend the terms of the private placement with Mr. McEwen, as first announced on February 9, 2009.

    Mr. McEwen has agreed to complete the private placement in a two step transaction designed to alleviate the Corporation's immediate financial pressures. First, Mr. McEwen will purchase 18,299,970 common shares of the Corporation at a price of C$1.00 per share for proceeds to the Corporation of C$18,299,970 which will be used, as to $US11.3 million, to satisfy the cash call made in respect of the Corporation's 49% interest in the San Jos? Project ("Step 1"). Second, Mr. McEwen will assume the bank loan owing by the Corporation to Macquarie Bank Limited ("Macquarie") in the aggregate principal amount of US$17.5 million ("Step 2"). The subscription price of C$1.00 per share represents a 108% premium to the closing price of Minera Andes' common shares on the TSX on February 13, 2009 of C$0.48 per share.

    In order to initiate the transfer of funds to Argentina for the cash call by February 20, 2009, Step 1 is to be completed by the close of business in Toronto on February 18, 2009.

    The Step 2 assignment of the Corporation's bank loan from Macquarie to Mr. McEwen, is subject to Mr. McEwen reaching agreement with Macquarie, and Macquarie has already indicated its agreement to this. The security for the bank loan also has to be transferred to Mr. McEwen, and Step 2 requires Hochschild Mining plc ("Hochschild") consenting to the transfer of the security in the San Jos? Project from Macquarie to Mr. McEwen. If agreement is not reached with either or both of Macquarie and Hochschild by the close of business (Toronto time) on February 25, 2009, Mr. McEwen will purchase a total of 21,700,030 common shares of the Corporation at a price of C$1.00 per share and the Corporation will use the proceeds thereof to repay Macquarie directly.

    The bank loan, once assumed by Mr. McEwen, will be convertible at the option of Mr. McEwen into common shares of the Corporation at a price of C$1.00 per share (for a total of 21,700,030 common shares), at any time, subject to approval by the shareholders of the Corporation. If such shareholder approval is not obtained by 60 days after closing, the bank loan (as assumed by Mr. McEwen) will be due and payable by the Corporation 15 business days after the date of the shareholders' meeting.

    In addition, if prior to such shareholder approval being obtained there is a change of control of the Corporation, involving a person other than Mr. McEwen or one his affiliates, the bank loan (as assumed by Mr. McEwen) will be immediately converted into common shares of the Corporation at a price of C$1.00 per share (for a total of 21,700,030 common shares).

    Step 1 and Step 2 of the transaction with Mr. McEwen are subject to the approval of the TSX.

    Mr. McEwen will not demand repayment of any amounts under the bank loan (including the sum of US$7.5 million which is currently due on or about March 7, 2009) prior to the receipt of shareholders approval or, failing such approval, 15 business days after the date of the shareholders' meeting convened to obtain such approval. In addition, Mr. McEwen has agreed to waive all existing events of default under the Macquarie credit agreement.

    Mr. McEwen has also confirmed that the Corporation may complete an offering of common shares on similar terms as the proposed transaction with Mr. McEwen for the purpose of funding its exploration activities.

    Step 1 and Step 2 are intended to improve the Corporation's financial situation and provide shareholders the opportunity to approve the issuance of shares to Mr. McEwen, where time permits such approval to be sought, without a material adverse effect on the financial condition of the Corporation.

    On February 9, 2009, the Company announced that it had entered into a letter agreement with Mr. McEwen pursuant to which Mr. McEwen or his affiliates would purchase 121,212,121 common shares of the Corporation at a price of C$0.33 per share (the closing price of the Company's common shares on the TSX on February 4, 2009), for proceeds of C$40.0 million.

    Subsequent to that announcement, the Corporation received advice from Hochschild that it was prepared to make a formal bid to acquire all of the issued and outstanding shares of the Corporation at an exchange ratio of 0.24 ordinary shares of Hochschild (which is listed on the London Stock Exchange) for each common share of the Corporation. Based on the closing price of Hochschild's shares and the Corporation's shares on February 15, 2009 this bid, if made would have an implied price of C$0.8658 per common share of the Corporation. Hochschild is not currently listed on any Canadian stock market so any bid if made, could not be made until at least April 2009, at which time the requisite technical reports in respect of Hochschild's material properties are scheduled to be completed.

    Hochschild indicated that it would

    (i) provide bridge financing to the San Jos? project so that the payment of the outstanding cash call by MAI could be deferred until expiry of the formal bid by Hochschild; and

    (ii) make a loan available to the Corporation in the principal amount of US$17.5 million so that the Corporation could repay its indebtedness to Macquarie and that the maturity date of such loan would effectively be extended until December 1, 2009, provided in each case, among other things, that the Corporation would immediately express support for any such bid by Hochschild and negotiate the terms of a definitive support agreement for the making of any such bid (with a view to settling the terms of such agreement by February 26, 2009). The proposal from Hochschild also provides that any such financial assistance shall be immediately due and payable upon the Corporation supporting an alternative transaction.

    << The Special Committee, together with its advisors, considered the Hochschild proposal for a bid some time after April 2009 and financial assistance and concluded that the proposed transaction with Mr. McEwen is in the best interests of shareholders. In reaching this conclusion, the Special Committee considered, without limitation, the following factors:

    - the implied price of the proposed Hochschild bid, if made, is inferior to the price offered by Mr. McEwen;

    - the financial assistance offered by Hochschild is expressly conditional upon the Corporation negotiating the terms of a support agreement (the proposed material terms of which are unknown) and failing which the proposed transaction with Mr. McEwen will have been withdrawn and the Corporation will again be subject to untenable financial pressure;

    - the proposed Hochschild bid, if made, will be based on an exchange ratio determined today, however any bid made by Hochschild cannot be made until April 2009 at the earliest;

    - the possibility that financial assistance provided by Hochschild would become immedi
  9. smith&jones 19 februari 2009 01:30
    Ik zit nog.

    Als iemand een deal maakt voor C$ 40 mio VER boven de marktprijs weet je dat er veel meer in het vat zit.

    Hochschild zal met een veel hoger bod moeten komen, en zo niet, dan blijft de cashflow in huis.
    Ruim een half jaar geleden boden ze $250 mio, nu $100 mio bij hogere goudprijs en sterk verhoogde productie.
    Slaat nergens op, puur opportunisme onder druk van de ophanden financiering van $11,5 mio.
    Denk dat het bod minimaal $300 mio zal moeten worden, en dat heeft MAI loud & clear gemaakt met de emissie tegen $1.00

    Een loterij zonder nieten dus, alleen een mogelijke behoorlijke verwatering, maar dan blijft de mijn dus in bezit.

    Ik blijf voorlopig zitten tot minimaal C$1.00, en bij stijgende goudprijs daar nog boven.

    S&J.

    S&J.
  10. smith&jones 19 februari 2009 17:44
    ...wanneer vliegt het 0,75 dekseltje eraf?

    Een duidelijker manipulatie heb ik nog nooit gezien....

    My guess...
    -accumulatie door insiders, vrienden en bekenden,
    -(evt freeze & PB)
    -doorklappen naar de C$1.00

    S&J.
74 Posts
Pagina: 1 2 3 4 »» | Laatste |Omhoog ↑

Neem deel aan de discussie

Word nu gratis lid van Beursduivel.be

Al abonnee? Log in

Direct naar Forum

Zoek alfabetisch op forum

  1. A
  2. B
  3. C
  4. D
  5. E
  6. F
  7. G
  8. H
  9. I
  10. J
  11. K
  12. L
  13. M
  14. N
  15. O
  16. P
  17. Q
  18. R
  19. S
  20. T
  21. U
  22. V
  23. W
  24. X
  25. Y
  26. Z
Forum # Topics # Posts
Aalberts 465 6.853
AB InBev 2 5.310
Abionyx Pharma 2 29
Ablynx 43 13.356
ABN AMRO 1.580 47.118
ABO-Group 1 19
Acacia Pharma 9 24.692
Accell Group 151 4.129
Accentis 2 253
Accsys Technologies 22 9.042
ACCSYS TECHNOLOGIES PLC 218 11.686
Ackermans & van Haaren 1 161
ADMA Biologics 1 32
Adomos 1 126
AdUX 2 457
Adyen 13 16.634
Aedifica 2 835
Aegon 3.257 320.341
AFC Ajax 537 7.027
Affimed NV 2 5.779
ageas 5.843 109.785
Agfa-Gevaert 13 1.897
Ahold 3.536 74.020
Air France - KLM 1.024 34.394
AIRBUS 1 2
Airspray 511 1.258
Akka Technologies 1 18
AkzoNobel 466 12.778
Alfen 13 17.349
Allfunds Group 3 1.236
Almunda Professionals (vh Novisource) 651 4.247
Alpha Pro Tech 1 17
Alphabet Inc. 1 341
Altice 106 51.196
Alumexx ((Voorheen Phelix (voorheen Inverko)) 8.485 114.772
AM 228 684
Amarin Corporation 1 133
Amerikaanse aandelen 3.822 240.506
AMG 965 126.609
AMS 3 73
Amsterdam Commodities 303 6.527
AMT Holding 199 7.047
Anavex Life Sciences Corp 2 384
Antonov 22.632 153.605
Aperam 91 14.202
Apollo Alternative Assets 1 17
Apple 5 322
Arcadis 251 8.628
Arcelor Mittal 2.024 318.772
Archos 1 1
Arcona Property Fund 1 272
arGEN-X 15 9.186
Aroundtown SA 1 186
Arrowhead Research 5 9.312
Ascencio 1 20
ASIT biotech 2 697
ASMI 4.107 37.776
ASML 1.762 77.703
ASR Nederland 18 4.162
ATAI Life Sciences 1 7
Atenor Group 1 340
Athlon Group 121 176
Atrium European Real Estate 2 199
Auplata 1 55
Avantium 29 10.804
Axsome Therapeutics 1 177
Azelis Group 1 49
Azerion 7 2.681

Beleggingsideeën van onze partners

Macro & Bedrijfsagenda

  1. 23 mei

    1. Samengestelde inkoopmanagersindex mei (Jap)
    2. Investeringen maart (NL)
    3. Consumentenvertrouwen mei (NL)
    4. Ackermans & Van Haaren Q1-cijfers
    5. Samengestelde inkoopmanagersindex mei (Dld)
    6. Ahold Delhaize - beleggersdag
    7. Samengestelde inkoopmanagersindex mei (eurozone)
    8. Samengestelde inkoopmanagersindex mei (VK)
    9. Aalberts - jaarvergadering
    10. Turkse centrale bank - rentebesluit
de volitaliteit verwacht indicator betekend: Market moving event/hoge(re) volatiliteit verwacht