Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Please anyone correct me if I have got this wrong, but as far as I understand the background to IRC is as follows:
POG invest $100M ++ (???) in building out IRC. They give away some of the shares to General Nice but they don’t get paid for these. They sign a guarantee on the company’s debt out of the goodness of their heart and at personal cost to them. Now that things are turning around, they want to give away the rest of the company for $10m which will probably be eaten up with costs.
My question is who is benefiting from this, and do they have holding company in Cypress or the Cayman islands?
Maybe a forensic audit could focus on uncovering the identities behind some of these holding companies.
Prices --> Iron Ore 65% Fe Futures Aug 2020
Good news.
UpDownFlat, You're not wrong. It was about 95USD/tonne on average for 1 year (which was already rather good). It is now at its highest at 120USD/tonne.
The impact of the increasing market price should be greater than the expected 5USD/t (+ improving logistics) of this famous bridge.
On the other hand, these assets will no longer scare potential hostile shareholders at all
Instead of presenting a risk, IRC wouldn't even become the icing on the cake?
Yes, IRC looking up indeed. Their positive profit notification was good news.
Interesting the two commodities racing ahead this year are iron ore in first place followed by gold. Nice sweet spot to be in....
The Amur Bridge is good to go as well once travel restrictions are lifted UDF.
Schedulike, Retiredbanker,
I personally dont think it is in the best interest of the shareholders to sell IRC for $10m, considering the investment made. I think they can pay their debts slowly and make a reasonable profit and become an asset in 2-3 years.
Sounds like a fairy story in itself but could the Ugly Duckling be about to turn into a Swan? Unless I missed posts this went uncommented on from 7th July... "The Group is expected to record an unaudited profit attributable to Shareholders for the six months ended 30 June 2020 of not less than US$5 million, as compared to the unaudited loss attributable to Shareholders for the corresponding period in 2019 of US$25.2 million". Saw this on the wires this morning as well, "China daily crude steel output hits new record in June on Robust demand". The SP has doubled since march - looking up at IRC?