Simmers

[Dutch]

The movement in the VIL share price to 285c values SIM at 136c. i.e. 105 div 220 times 285. The current price is 102c so should move further....?

[CHATTYCHAT]

Are you hinting a BUY?

[Fredsed]

Spirit in the Sky

[kn_1]

test

[kn_1]

This data is a little old. I am using NAV of Sep 2009. Net Asset Value per share (at Sep 2009) was 295,66c. A typical company on the JSE trades at 2 * NAV. So, if Simmons was a typical JSE company its shareprice should be about 600c. Now Simmer's is selling its assets. This deal should most probably be made between 295,66c (at Sep 2009) and current market price of 103c. Are we looking at a 200c per share? Anybody agree/disagree with this logic?

[#6]

Go read article on Fin24, The deal ahs already been priced wit ha premium of 14% on the last 30 days weighted avegarge price - Total R1.3b - Value of Simmers at 105 - Pathetically undervalued in my opinion and if get the opportunity will vote against the reverse takeover/Merger

[Dutch]

I hope an explanation will be given to all shareholders as to how the investment is being sold to the chairmans company at a discounted value. The reason I say that is that at the Macquarie Miners from the Frontiers Conference held on the 1st September (presentation on the Simmers website), the CEO advised that SIM had a DCF value of R4.76 per share and that the current 90cps is a steal. So what has changed in a matter of two months? The FUM share price has almost doubled, production is up, the gold price is over R300k/kg, all projects are on track, Tau Lekoa integration is on track, immediate debt payments were taken care of by the DB forward sale agreement, record production is expected in the December quarter, the outlook for the gold price has never been more promising, the company will be cash positive next year, etc, etc, etc.... Then we will probably be required vote on the matter before the December quarter results are released...oh well what can I say

[Gof]

If the deal goes ahead, what does that mean for me as a Simmers shareholder?

[CHATTYCHAT]

You'll become a VIL shareholder