Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Oddly enough I was also researching Rex Harbour yesterday and looking at his involvement in Mintails. As you say, there was some surprise that Mr Harbour was still backing the business after its recent troubles. The company has been accused of several misdemeanours including environmental pollution. Given its chequered history and financial troubles it does seem surprising if he is favouring them to us. Mind you, they are parachuting in new management there so perhaps Mr Harbour has more control over the direction of that company than this. I also discovered he is now 82 so another possibility is that he has decided to wind down a bit. I concur that it would be beneficial to see his exit sooner rather than later if he wants a complete break from us. How difficult would it be, i wonder, to find a buyer?
Michinoko and GC connections are opaque but they are involved in other venture(s) together as previously posted - Rex Harbour's place in this on the other hand is even more hazy to say the least - but that doesn't mean links don't exist. After bakoven's post yesterday I decided to do a little digging: Rex is allegedly of British/South African citizenship with his investment company based in the UK. Clearly he is very rich and I reckon possibly aligned with other wealthy entities that value privacy. First thing to mention is that reading the latest holding RNS, Rex didn't disclose his sales - "Amerisur has received notification from its registrar, Capita Asset Services" possibly as a result of asking them to check all major shareholders. We can criticise Rex (and have)for not informing the market but actually there is nothing compelling foreign shareholders to inform and the rules appear pathetically enforced in any case. I found the South African thing very interesting as GC an Michinoko are connected via mining ventures in SA. A search of Rex reveals he (or his family) also have interests in South African mining which would explain why he is selling down his Amerisur holding rather than any loss of faith. Apparently he (his company) is the main creditor of a gold tailing treatment company called Mintails, it was quite a big outfit (1000+ employees) that hit the skids a while ago and called in a Business Rescue specialist Rex's company "Paige" is the main creditor and I suppose stands to lose a heck of a chunk of money if the business isn't rescued, so they have agreed to finance it and even introduced another financier. The articles I have read express surprise that Paige are doing it (looks like a dead duck/ money pit to me). But it explains why Rex is selling Amer - he is sort of a distressed seller and must raise the promised cash - only yesterday it was reported "Mintails completes restructuring of its operations" so Rex seems to have provided the promised Money for phase 1, most likely needs to stump up more for phase 2, if Mintails sell assets apparently he will claw back some of his committed cash The good thing for me wrt Mintails is it explains the selling and suggests there is nothing nasty associated with Amerisur that is causing him to dispose of shares (always a worry that they are in the know) - we could also assume that he may keep an interest when enough capital is raised to save Mintails. So IMO he isn't the villain here simply exercising his right, even very rich people don't have millions sitting around in bank accounts and need to sell assets occasionally. https://www.businesslive.co.za/bd/companies/mining/2017-10-18-mintails-completes-restructuring-of-its-operations/