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Many thanks Mick for the info, Happy New Year (fingers crossed)
There's been an expected decline in the price as I assume Traders have gotten their profits out and will come back in if the ruling goes in Nordics favour. ( assuming they can get in )
Anyway, all the best to all holders LT or ST.
Well Tenantry et al.....Jan 2024 is going to be a very significant month
https://www.domstol.no/no/hoyesterett/saksliste/kommende-rettsmoter/tirsdag-23.-til-mandag-29.-januar
GLA....🤞
The Environmental ruling has been postponed to Jan 10th.
I believe the District Court ruling that Greenpeace has raised re dumping waste into the sea is due today / tomorrow. And the other re Garnet rights (Arctic Minerals) was supposed to be due Nov?
I'm not sure of the technicalities of Norwegian Law but the recent rises in the share price seem to indicate that the markets believe Nordic will be successful.
Im sure there will be appeals but the future looks a little brighter and hopefully this stock will attract a Take over or will become a long term pension contributor.
GLA
Mick
Interesting site for Nordic chat.
https://www.finansavisen.no/forum/thread/161667/view/0/0?page=8#
I've tried to register but cant receive the verification code for some reason.
GLA
Thanks for the update Mick.
I honestly thought this was a low risk as Nordic have the Governments backing in the case I believe? but nothing is finalised until its sorted so that will explain the slide in price.
More opportunity for me to get the average down,
GLA
Hi Tenantry and all fellow SH's. It seams this share is in limbo until there is movement in the Norwegian Supreme Court appeals process. This has been referred for a Hearing, and the last news from Nordic was that the appeal was expected to be heard in October, well that target has now slipped as this is not scheduled at least up to 16 November (see link);
https://www.domstol.no/en/supremecourt/hearings/
With a positive outcome for Nordic Mining in the appeal, the SP could easily triple in a relevantly short timescale. Construction is well underway and on schedule, so as far as I am aware this should be producing by the end of 2024, I can actually see me receiving dividends on this one as part of my retirement in early 2026....GLA
Morning everyone.
Any thoughts on this share now or are we all now just sitting and waiting?
I've been increasing my holding whilst we are still at and around the last placing price trying to bring the average down.
GLA
Did anyone see that
Share price increased to about .9 Nok and I could dummy sell and buy at that price for a period ??
Thought anyone
Futurum.
I think Norge mining stocks are privately held.
Hi, are Norge mining on any stock exchanges?
No probs
Cadellin
No, This share is Nordic Mining and the product is Rutile and Garnet.
Good read so I may do a bit of research, Cheers
Https://www.independent.co.uk/tech/battery-solar-panels-norway-phosphate-b2368444.html
I suspect Christian Gjerde as CFO did such a lousy job in some financing decisions that he was given the option to resign or be fired.
Now Nordic Mining needs to employ a more capable financial director, which I believe they will do.
Apologies.
He resigned as CFO in April, so personally I'm not too concerned at the moment.
GLA
Wonder why the CFO has sold all his shares.?
I'm just about to buy another grands worth to average down after the dilution but might wait a day or two whilst I see what the market says.
Any thoughts.?
I had shares in Nordic a year ago but decided to sell out with a loss just before the dilution in March. I'm thinking of going back in because I think NOM is unique in the way that other companies are not, because it's like having a crystal ball for the future! We know what to a certain point the direction Nordic Mining will be in say 5 years from now! Which you cannot say about most other companies. Basically, it's a retirement share with solid future growth.
When it comes to the Supreme Court, I have no fear because Nordic received a favourable decision from the district court and High court. Even if the ruling goes against Nordic, then we are talking 10-15 years in the future before they are planning on mining that part of the mountain.
Looks like it will be around October and we have the backing of the Norwegian Government...
https://tools.euroland.com/tools/PressReleases/GetPressRelease/?ID=4296469&lang=en-GB&companycode=services
on the Subsequent Offering from the BoD and Management, As far as I can make out from their stock market releases:
https://www.nordicmining.com/investors/stock-market-releases/
it looks like 5 members of the board / management have participated in the offering, and at least two have oversubscribed their allocation.
That at least gives me a bit more confidence in the money I've spent protecting against the dreaded dilution....GLA
Thank you Mick.
Iw ill just crack on and buy on the market, I was hoping to see a possible drop in price due to the offering and get them cheaper after the event.
Heh-ho!
I will need to read up on the legal case, another missed bit of info in my research.!!!
Hi Tenantry, I received notification from my SIPP provider that the holding company for my shares had given a deadline of 6 April to participate in the offer, but that due to time limitations (2 days), they could not action on my behalf. Not that it mattered as I had previously bought in at 3% above the offer.
On another matter, I see that the Norwegian Supreme Court has accepted for hearing the Arctic Mineral Resources appeal;
https://www.domstol.no/en/supremecourt/hearings/referred/22-183855SIV-HRET/
I don't think this has been RNS'd yet?
Has anyone heard from their stockbroker about the repair offer?
As it is only open to existing stockholding in place on 2nd March I thought existing holders would have been contacted by their brokers.
I'm with HL and have heard nothing yet.
GLA
Well....why bother waiting on the subsequent offer, at lease I can buy more than the allocation at a price only around 3% higher than the repair offering. So bought around 114% of my existing holding at NOK 0.617.