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Good luck waiting for the explanation and honesty from RY
OTL
Agree the structure of the deal is poor, but are people really surprised with the Fair Value of the deposit giving its location and the current geopolitical situation? How many buyers of Russian assets do you think are out there?
BOD should hang their heads in shame, unless they have proposed such a bad deal on purpose to have it voted down. Some explanation and honesty from RY is well overdue.
1m shares buy at 2.40p at 08.13am.
This is an unbelievably bad deal.
I cannot think of any company lawyer, or businessman, that could even conceive such a crazy contract.
The market reaction sums it up.
The deal is so opportunistic for the buyer, others may want to counterbid. But hey there is a war on so it may well take some time unless one is a poor oligarch looking to make a quick rouble.
Only those in the asylum could vote for this.
BAD deal but this is way over sold now... hold for the rebound back into the 2s
Looks like the gap filled at 1.6p, there was huge buying at 2.4p and above so looks like MM's have collected shares from the weak hands/disgruntled shareholders and now we should go up. By my calculations, the present deal values us at 7-8p? We should be back up at 3p if holders stop talking down their company.
DYOR
Did they really state the premium without discounting? Time value of money anyone?!
Let them close the gap at 1.6p then see where we go…..
.. perhaps the fact this offer is so awful makes it far more likely the offer will either have to be improved or someone else will think they can easily better it and come to the table. I don’t think RY has the ability to get this through as it is so having calmed down since first reading the RNS I think patience will see a development of some kind that will improve matters for share holders. Potanin (NN) could offer €75m cash payable now and we’d be better off. He could easily afford to do that and just sit on the asset for years until such time he can mine it cost effectively or simply sell it on at a huge profit and when the war is long over and forgotten.
I think we all did the same Rover62
MD
No fission you stupid ****, I'm not
I had a quote to sell this morning at 2.9. I thought it may be going up. I refreshed it was on the way down. I wish I’d pressed sell. Now in the red.
If you vote this through, you will get zero dividend from Robbing Young and Robert Shaffter.
It may as well go tits up, I would rather that than give Young more money, the net result to us would be the same, sweet FA.
the daffodils will be in the way by then
The 3mln per year does not start until 2027,therefore final 3 min in 2037
MD
90 days after final residue payment agreed, so 2027 i read
January RNS
"a potentially interested party has valued the Company at an indicative price of up to £100 million".................. Pounds.
Today RNS
"Proposed sale of the Kun-Manie Project for US$ 105 Million"....Dollars US.
£100 million = $123 million today. Shafted again.
So guys do I understand this RNS correctly? The final instalment will not be until 2037.
This must surely be a joke
MD
I'll vote against, this is a rubbish deal for shareholders, We have voted against RY's schemes in the past and defeated him and I believe we can do it again, initial reaction may be to feel powerless but we are not.
Not a good deal for PI's sahreholdings after the long wait.
So I was right, there’s no sale: it’s a Give-away! The $3m per month will be snaffled up by RY and buddies and then the rest, eventually, paid out to share holders.
Gotta vote against. No other choice.
"US$30 million, payable in ten annual installments of US$3 million commencing on the anniversary of the date of completion in 2027." thats 5 yrs away for it to start.
"It is anticipated that portions of the second and third payments (totaling US$60 million) will be paid as dividends to the shareholders."
Only anticipated = regard as probable, not even guaranteed, with Youngs record of lying. This must be rejected out of hand.
testing for release?
Now Red.. yrcnmiu