http://clients.westminster-digital.co.uk/minesite/microsite/events/50/video/index.aspx?companyId=50_1
=">http://www.proactiveinvestors.co.uk/pdf/brr.pdf
http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=39359&sn=Detail
www.braemoreresources.com
http://www.investegate.co.uk/Article.aspx?id=200711010702217873G



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http://www.resourceinvestor.com/pebble.asp?relid=38513
http://www.proactiveinvestors.co.uk/articles/art.php?BRR2
cyril

Fair to say that the market is underwhelmed by the news. Makes me suspect that they think the offer is going to be an all share offer rather than a cash settlement. Still no indication who the bidder might be but presumably they think that BRR is going reasonably cheaply.

Harry; if they pitch the offer to low BHP could come in with an offer,the Leinster
tailings processed using BRR's knowhow would imv make it a very attractive
acquisition.
All will be revealed in the near future.
cyril

RNS today:

BRR strengthens ConRoast technology position

A good move on managements part,will make it more attractive, theirfore making a cheap takeout less likely?
aiho
cyril

Have you got a hangover, Cyril???

lol
cyril

cyril we agree with you comments, the question is will the likes of BHP pay a large price for the con roast proven technology to gain exclusive ownership?

Somebody on the JLP thread suggests Jubilee Plat may be the predator.

Harry quite possibly as a result of signing the production agreement last month, although another party may have decided to step in to secure an exclusive position.

Rumour of the day

Ruukki, the Finnish group that wants to consolidate South Africas stricken platinum industry, is believed to have walked away from a deal with Braemore Resources down p to 4.6p. In turn, Braemore Resources has gone straight to Jubilee Platinum down 1p at 45p with an all-shares offer expected to be announced imminently.
http://business.timesonline.co.uk/tol/business/markets/article6627349.ece
cyril

That's what I was afraid of, All share offer. Have to consider whether it's better to take cash now or wait for the offer to be made. Presumably JLP can now call the tune, which may not be good for BRR holders.

"JOINT ANNOUNCEMENT OF A FIRM INTENTION BY JUBILEE TO MAKE AN OFFER TO ACQUIRE THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF BRAEMORE AND WITHDRAWAL OF BRAEMORE CAUTIONARY ANNOUNCEMENT

Further to the Braemore and Jubilee cautionary announcements on 16 June 2009 and 29 June 2009 respectively, Jubilee wishes to announce its firm intention to make an offer to acquire the entire issued and to be issued share capital of Braemore (the 'Offer') (the 'Offer Shares')."

Hmm - I should have taken Cynic's advice and 'locked in' profits sooner, instead of being greedy and hoping for more. I just hope I live long enough to learn . . .

Depends if you are happy acquiring JLP shares, which, in the long term, may be a good thing, imo.

Business Financial Newswire
"Jubilee Platinum is to make an agreed takeover offer to Braemore Resources which involves the issue of 1 new Jubilee share for every 15.818 Braemore shares.

The offer consideration is at a discount to the current market price but in addition Jubilee has undertaken to fund the operating costs of Braemore whilst the Scheme is being implemented (up to a cumulative maximum of R7 million on a drawdown basis) and to settle some of Braemore's current liabilities (up to a cumulative maximum of R25 million on a drawdown basis).

Furthermore, Jubilee recognises that Braemore also has an outstanding commitment of approximately R18 million payable to Mintek by 30 September 2009, which amount will be paid by Jubilee on behalf of Braemore, subject to fund raising of not less than ZAR 50m.

These amounts will be repayable by Braemore if the Offer does not proceed. A 1% compensation fee will be payable by Braemore to Jubilee if the Offer does not proceed for reasons relating to Braemore. Similarly, a 1% compensation fee will be payable by Jubilee to Braemore if the Offer does not proceed for reasons relating to Jubilee.

As part of the Scheme, the existing 305m Braemore performance shares of 0.1p each will be cancelled at zero consideration if the Scheme becomes effective. "

By my calculations it is better at the moment to buy JLP....because BRR to buy 3.25 times 15.818 makes just over 51p.....this means BRR sp must drop more or JLP has to rebound !.

3.5 to buy times 15.818 makes 55.36.....crazy to buy BRR at the moment with JLP at 42p to buy...BRR's sp must drop !.

do i perceive that the shareholder's have been mugged yet again?
confess i was taken in by the guys a couple of years ago and lost money, but at least bit the bullet several months back

JLP looks the better bet....within the next 12 months..should go to the 100p level !. When exactly ?! I don't know, but it looks pretty good to me !.

Not a very good deal for Braemore shareholders but not a bad one for Jubilee holders...that's the bottom line of today's corporate moves !.

Agreed, but in the long term, the 'new' holders of JLP shares (i.e. the old BRR holders) should benefit from any future increase in the JLP sp. So the 'new' holders are going to have to scrape back the initial loss before realising any profit. As you say, rf, depends where one thinks the JLP sp will go to. JLP must think that the current BRR operation is worth acquiring, so my reasoning is 'short term loss for long term gain' for the BRR holders, but the current 30% decline in the sp speaks for itself, imo.