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Atomic5 said:
Atomic, nature of the beast I'm afraid........remember Ivanhoe selldown of INL.......and after all I'm pretty sure JRV would be nowhere if INL hadn't started purchasing in the first place.
MB
JRV - Jervois Global
- Thread starter SLWK
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Atomic, nature of the beast I'm afraid........remember Ivanhoe selldown of INL.......and after all I'm pretty sure JRV would be nowhere if INL hadn't started purchasing in the first place.
MB
rub92me
Don't look back
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There is a difference between trading by insiders and insider trading. I don't think INL can be accused of insider trading when they sold some of their initial stake; at that moment it was unlikely they could have known how JRV would react to the JV proposition. As to the JRV director: hard to prove, but wouldn't be surprised by some nosing around by ASIC...Atomic5 said:
explod
explod
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Yes agree Atomic5, but if you measure the accumulated volume of the last two months then the Intec holding is only a small part of the overall new holders. Of course the day trader component will be a big part also and some weakness may still ensue, but the big picture looks OK for a medium term hold till the China measure has been done
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Atomic5 said:
It was only this year.
Ivanhoe selldown of INL started at around .27 and ceased when was about .235 They still hold a substantial amount.
MB
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INL offered them what they deserved after ten years of doing nothing. All good business people do the same. After JRV don't hear from the Chinese, INL will be back with a lower offer.
Moneybags said:
Ivanhoe however have an ongoing interest in INL. Some people refer to Ivanhoe as owners. Im not sure the relationship is the same here. JRV do not want to use the sulphate method (INL) and had already (last May) planned for a mini-pilot plant this year using the Aspen patented process. They recently commissioned another study.
Pursell confirmed this direction AGAIN on Wednesday. They plan to go into early low grade production.
The view that nothing has been done over the years isn't quite correct - the laterites are difficult, and so far no-one has seen need for this kind of Nickel to be mined, until now that the traditional sources and stockpiles are low.
Companies around the world have been studying this one for years as well.
Maybe we're at the breakthrough stage, but the idea that INL is mandatory in this equasion is ridiculous.
explod
explod
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Maybee, Nickel up a further 2.5% overnight, seems to be some support so far but a bit early for the big sellers/buyers?? yet
explod
explod
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For the short term yes but the longer term investor sees 20 to 30 cents a share in a year or two, depends on the sort of trader. Intec would have been well aware of their position by the 15th March. Including todays volume, 422 million shares have changed hands since then and it is my humble view that Intec would have sold most of that intended with a very nice profit thank you. Have been wrong before DYOR
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Counting every second, how much I lost already? 
oh well...bit nasty round here.
oh well...bit nasty round here.
explod
explod
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A fair bit of strong buying at .024,, seems a long way from .015 IMHO
From Mining News - maybe INTEC have yet to sell????
Intec, Jervois call merger off
Rebecca Lawson
Friday, 23 March 2007
THE potential merger between Intec and Jervois Mining has been called off, with a difference in opinion between the two companies over the 19% drop in Jervois' share price following the news. Additionally, Intec has increased its significant stake in Bass Metals but has just come short of the limit of a takeover launch.
In an announcement released to the market yesterday, Intec and Jervois said after a confidential meeting where various proposals were considered, Jervois' board decided the merger would not be in the best interest of shareholders.
Speaking to MiningNews.net, Jervois director Anthony Jannick said the proposals did not accurately reflect the real value of its assets.
"We didn't think it was a good enough offer to the shareholders," Jannick said.
"We gave as positive a proposal as we were able to do and I don't think, from our side of the fence, we could not have been more positive than we were without being stupid," Intec managing director Philip Wood told MiningNews.net.
"Am I particularly worried about that? Not really. We were at the limit of what we were able to do and it wasn't enough from Jervois' point of view and I understand that."
While both companies agreed to let the proposed merger fall through, there were differences in opinion over the drop in Jervois' share price yesterday on the back of the news, where its shares closed down 0.6c to 2.6c. Shares in Intec shed 1.5c to end at 17.5c.
Jannick said the stock's price fall was simply because Intec was selling a significant amount of its Jervois shares, however no notice had yet been given to Jervois. Intec holds around an 11% stake in Jervois.
Meanwhile, Wood said whether or not Intec was selling its Jervois shares, all would be revealed in due time in a substantial shareholder form to the Australian Stock Exchange.
"Whether or not we were selling shares and the extent to which we're selling shares will all have to be formally released to the ASX," Wood said.
"It's self-evident that the market would have liked to have seen a cooperative corporate deal, or merger if you like, between the two companies and it's obviously disappointing for a lot of the holders of Jervois shares if those talks don't come to fruition, so that's why you see a sell-off and that's why the share price is looking pretty weak today.
"But if you look at it another way, their share price is incredibly strong [compared to] a month ago."
A month ago Jervois shares were trading between 1.5c and 2c before reaching a 12-month high of 4.2c at the announcement of a potential merger between Jervois and Intec.
Meantime, Wood confirmed that Intec had increased its holding in Bass Metals to 19.98% and said there was no talk of a merger or a takeover of the company, but instead said the increase was due to Intec's faith in Bass.
"We are extremely keen on Bass Metals who we regard as a partner, they're doing the exploring and mining and we're doing the processing and marketing, I mean that's a simplistic way of talking about it, in that region around Hellyer [zinc mine] in Tasmania," Wood said.
"We are keen to support them financially, we are also positive about their future share price so we wanted to go up to the maximum we could, which is obviously 19.9%, prior to the rights issue because we want to fully participate in the rights issue and we are a sub-underwriter for $1.5 million out of the $4 million underwritten.
"I am keen that there be a close alignment of interest between Intec and Bass."
Wood added that as a result of positive cash flow into the company due to the fact that Hellyer has started zinc production, Intec was looking to other companies for potential mergers.
"We are interested in companies who have minerals processing challenges with their existing resources, which we think our technology and our technical capabilities can address," Wood said.
"If you use Jervois as an example, they have a relatively low-grade nickel laterite resource, it's quite substantial and it's well located, but the key to unlocking the value of that resource will be to find the right processing technology and that's what drew our interest to Jervois plus it was heavily undervalued down at 1c.
"If that circumstance arises with other companies, and there are a few that I have in mind, we would be looking to do the same thing."
Shares in Intec were steady at 17.5c while shares in Jervois shed 0.1c to 2.5c in trading this morning. Meanwhile shares in Bass climbed 1.5c to 31.5c.
Intec, Jervois call merger off
Rebecca Lawson
Friday, 23 March 2007
THE potential merger between Intec and Jervois Mining has been called off, with a difference in opinion between the two companies over the 19% drop in Jervois' share price following the news. Additionally, Intec has increased its significant stake in Bass Metals but has just come short of the limit of a takeover launch.
In an announcement released to the market yesterday, Intec and Jervois said after a confidential meeting where various proposals were considered, Jervois' board decided the merger would not be in the best interest of shareholders.
Speaking to MiningNews.net, Jervois director Anthony Jannick said the proposals did not accurately reflect the real value of its assets.
"We didn't think it was a good enough offer to the shareholders," Jannick said.
"We gave as positive a proposal as we were able to do and I don't think, from our side of the fence, we could not have been more positive than we were without being stupid," Intec managing director Philip Wood told MiningNews.net.
"Am I particularly worried about that? Not really. We were at the limit of what we were able to do and it wasn't enough from Jervois' point of view and I understand that."
While both companies agreed to let the proposed merger fall through, there were differences in opinion over the drop in Jervois' share price yesterday on the back of the news, where its shares closed down 0.6c to 2.6c. Shares in Intec shed 1.5c to end at 17.5c.
Jannick said the stock's price fall was simply because Intec was selling a significant amount of its Jervois shares, however no notice had yet been given to Jervois. Intec holds around an 11% stake in Jervois.
Meanwhile, Wood said whether or not Intec was selling its Jervois shares, all would be revealed in due time in a substantial shareholder form to the Australian Stock Exchange.
"Whether or not we were selling shares and the extent to which we're selling shares will all have to be formally released to the ASX," Wood said.
"It's self-evident that the market would have liked to have seen a cooperative corporate deal, or merger if you like, between the two companies and it's obviously disappointing for a lot of the holders of Jervois shares if those talks don't come to fruition, so that's why you see a sell-off and that's why the share price is looking pretty weak today.
"But if you look at it another way, their share price is incredibly strong [compared to] a month ago."
A month ago Jervois shares were trading between 1.5c and 2c before reaching a 12-month high of 4.2c at the announcement of a potential merger between Jervois and Intec.
Meantime, Wood confirmed that Intec had increased its holding in Bass Metals to 19.98% and said there was no talk of a merger or a takeover of the company, but instead said the increase was due to Intec's faith in Bass.
"We are extremely keen on Bass Metals who we regard as a partner, they're doing the exploring and mining and we're doing the processing and marketing, I mean that's a simplistic way of talking about it, in that region around Hellyer [zinc mine] in Tasmania," Wood said.
"We are keen to support them financially, we are also positive about their future share price so we wanted to go up to the maximum we could, which is obviously 19.9%, prior to the rights issue because we want to fully participate in the rights issue and we are a sub-underwriter for $1.5 million out of the $4 million underwritten.
"I am keen that there be a close alignment of interest between Intec and Bass."
Wood added that as a result of positive cash flow into the company due to the fact that Hellyer has started zinc production, Intec was looking to other companies for potential mergers.
"We are interested in companies who have minerals processing challenges with their existing resources, which we think our technology and our technical capabilities can address," Wood said.
"If you use Jervois as an example, they have a relatively low-grade nickel laterite resource, it's quite substantial and it's well located, but the key to unlocking the value of that resource will be to find the right processing technology and that's what drew our interest to Jervois plus it was heavily undervalued down at 1c.
"If that circumstance arises with other companies, and there are a few that I have in mind, we would be looking to do the same thing."
Shares in Intec were steady at 17.5c while shares in Jervois shed 0.1c to 2.5c in trading this morning. Meanwhile shares in Bass climbed 1.5c to 31.5c.
With the potential merger having been called off, one wonders whether the JRV board has a back up. It seems pretty clear to me that JRV will need a major partner in order to develop the huge nickel project. A merger with Intec could well have achieved this aim. JRV may drift a little further until the next proposal comes along. I have followed this thread with interest, but never had a financial interest in it. I wish all JRV shareholders well.Atomic5 said:
DYOR
