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Mother - whatever
They Still have mollyworld a few others and then mother remaining cash in the bank to dish out too.
80/20 split preference shares and here .
I might even brake even
Lol that lasted long.
I smile for you mate.
$2m between here and preference shares.
Origo has sold its entire interest in Six Waves Inc., a Hong Kong based gaming company. The buyer was that company's majority shareholder. The cash consideration of USD 2,182,543 has been received. Origo had invested USD 240,000 in Six Waves Inc. in 2012 and had carried the asset at nil.
In accordance with Origo's previously announced strategy, Origo will return to shareholders all excess capital. Pursuant to the Company's Articles of Association, eighty per cent of any distributable amount will be paid to the holders of the Company's redeemable preference shares and twenty per cent of any distributable amount will be paid to holders of the Company's ordinary shares.
“Origo's interest in Moly World is being sold without any representations or warranties. Bids will be accepted until 5 January 2022.“
Going by The hive of activity In The share I expect that they were over run with offers.
One can dream.
Investment Update - Auction of Shareholding in Moly World Ltd
Origo hereby announces that it is putting up for auction its entire interest in Moly World Ltd ("Moly World"). Moly World is an unlisted BVI company that owns rights to mine molybdenum in Mongolia. Origo owns 20 per cent of Moly World's equity and has contractual rights to a board seat as well as other rights. According to the Company's former board's 2016 Annual Report:
Still waiting…..
“Origo expects to put its Molyworld shares and any other remaining assets up for auction before the end of the year. We will provide additional details in due course.”
Its just the spread, when price to buy dips below .10-12 a couple of buys appear, the few shares available get bought up then a small trade at ~15 ticks it up, done the same a few times.
I still speculate that the listing will be put to some use, but its a casino bet.
Nothing for a long time, then out of nowhere a fairly remarkable rise today - big question - why? More so, when in the 2020 report the chairman confirmed that the policy was to realise the remaining investments and then liquidate. - probably me an MVL. Someone's buying today.
Do remember that Origo is one of the biggest scandals on the market. The company raised a lot of money that was "invested" in so very dubious projects. The report on where the money went will take your breath away.
If any money is ever paid to shareholders it will be a miracle. I sold out on the mad spike a while ago but I bought them back with a bit of the profit so have nothing to lose here. I expect nothing at all so I wont be disappointed.
“ About a decade ago, Origo invested in Moly World Limited (Molyworld), another BVI company, which through a Mongolian company owns rights to mine molybdenum in Mongolia. Origo paid US$10 million for twenty percent of the BVI company in 2011. Thereafter, global molybdenum prices collapsed, Molyworld had various legal problems, the driving force behind the company died, and no real operational progress was made. Molybdenum prices have now recovered to about where they were in 2011. Origo expects to put its Molyworld shares and any other remaining assets up for auction before the end of the year. We will provide additional details in due course.”
The put it so positively, still sat with fingers crossed.
It’s a slow burner for sure, but I still expect a change of plan from liquidation down the line, a then clean aim listed shell is worth a mil or two of enlarged equity these days. Just need to buy back / convert or settle the preference shares and anything could happen to this listing, it would definitely return shareholders / stakeholders greater value over the current plan.
plus it still has some cash and assets on the book.
A Highly speculative and risky trade but it just takes one rns indicating a change of direction and it’s game on.
been here for a while losing money but nobody to chat to !!
Is that £1 for all my shares ??? I might take it, LOL
£1 a share in next year i reckon lol
Gobi coal is based in mongolia, mongolias lockdown is supposed to be lifted between the 25th-30th april, possible completion of asset sale could be shortly after this
Need another rumour so it jumps 100% again :)
Weird Halifax won’t allow a trade in this anymore
Like last time I'm just waiting for an RNS saying "we know of no reason ....."
Why do companies feel they need to do this when the rise is purely a technical correction
alot for punt money!
Insider buying? Am still down from the last P&D
something happening