George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Funny that the high court sides with sleaze moves bu boards of companies, instead of asking for the evidence. London is becoming a joke of a jurisdiction. In the US things would be different.
Thanks L3Trader
i was attempting to be self mockingly light hearted.
Me you and Rusty been here some time now.
Lawrie, who cares about Peter or Pavel... We are talking about people who died here. Sorry to hear Rustie. It is never easy.
UGC's legal case might stop the deal if it can be proved procedures were not followed. For example, is Stocken a related party? Who owns it? Friends of the previous board? With POG nothing is clear. If it was SP would have never been below 30p since Summer of 2020.
IRc must be doing fine with their FCF this quarter. Not as well as Q3, but i bet they will still clear some of the Gazprom debt which they have been doing at breakneck speed to get Gazprom bank to allow the Stocken transaction to take place...
ATB
I lost Peter and Pavel last year. what am I to do sob, sob sob
Lawrence i lost my mum in 2006 and wife in 2009 , its never easy even as the years go by , come on pog cheer us up lol
Sorry Rusty, just see the part about your mum. My sincere condolences, I lost mine back in January 2017 time just evaporates as its soon five years. Funnily enough I accidentally pulled out my mums funeral service sheet with her photo whilst going through some papers and couldn't bring myself to look at it. Anyhow so sorry to hear about your loss
I was informed the 31st December 2021 regarding the deadline. But the issue is if stocken look like taking up their option the deal is possibly binding no matter what besides POG reneging on it and the legal implications that would follow. So without UCG's claim there really is nothing POG can do and with UCG's claim through initially supposed injunction, there's still noting UCG can do as it's all legal. It's just more chaos. I would love the stocken deal to be scuppered but can it?
Best wishes rusty
Lawrence13 The deal is only binding if Stocken complete with a specified timeframe, ( I just can't remember how long this period was ) but as I have just lost my mam ) can't be bothered to look back. If they don't complete within that timeframe or remove guarantee it lapses.
Does anyone has similar observation, Physical Gold price is $1861 per ounce and Physical iron price is $200 per tonne
Law13, it was already assumed coming because in last six months UGC has appointed a lawyer as its non executive director, and has reacted at available information with a degree of Boards consent. It was probably the only way out for board and UGC to get out this contract by taking into court.Court can easily strike it down because of legal lakoonas. Where as board has no such authority
yes, you might be talking.... the deal stinks. that is for sure.
What legal ground have they found?
The board says the deal was legally binding as of May 2021 if so then nothing can be done about it unless Stocken reneges on the deal. Surely if the Board feel that there is no way out then why is Stukov even bothering, I mean will the British courts serve an injunction on the deal when the BOD says its binding. It also exposes a massive rift within the company with Strukov being the largest shareholder. What Machiavellian subterfuge is at work here? Is this going to precipitate a major board upheaval again. This is how I read it. Strukov knows he can't stop the deal but wants to be the hero who tries to in the name of the poor suffering share holder he will call for a Emergency general meeting saying there is no confidence in how the present board handled Stockens purchase,. Strukov will say ' look at your board members , they are not fighting for you so vote in my proposals and then he will have a stranglehold on POG. Of course I could be talking pure ******
What a mess... so the board continues to insist the deal has to go ahead... Bizarre. The dedline has passed. Who is behind all this?
UGC has found the legal ground to stop the irc transaction, massive legal point? Why 31.10% had been broken into two pieces? Unless there malafied intention. If 31.10% is sold as a whole it’s price will include metal contained in the grounds. Multiple times the price market
Gold train is being fine tuned for a rally
Oh so if Gold dropped to $900 an ounce POG would possibly thrive. Off course POG is linked to Gold. It may not always move with gold immediately as other major factors come into play like poor management versus good management , gold reserves and efficient productivity. These things have a major clout and can improve the SP even if gold is stagnant. Gold prices are like the wheels on a car and the condition of the road s it drives on whereas the other factors I've mentioned are all important but if the gold tires and roads aren't there the the company goes nowhere. As for the current price of gold its as if the whole capitalist system knows that the currncies they relay on everyday are only sustained through a false belief that everything is fine and bitcoin will save the day. However once that false levy breaks and just like those cartoon characters who run of a cliff edge and still defy gravity until they look down and then the awful truth is apparent and they know the global currencies are in freefall
Quite, the great mystery that is POG, what happened at 10-20am? A significant surge not related to the gold price or visible POG news. Then a huge UT, why would a balancing trade just happen to be £1m?
Who said POG’s SP was linked to Gold. Gold down and Precious Metals sector was worst performing according to LSE today. Go figure!