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It would appear that the FAQ’s section of the company website has been updated.
Looking at the update it is a pity they do not put a date as to when the question was raised. It would provide a degree of context.
One issue they do raise is the idea of two prices. Price one being a western long term forward looking pricing and the second is that used by GKZ based upon the average price over the last two years. Price will vary between the two sources. So for copper $4.45 lb as against $3.10 lb. NB. Historical Nickel price is $6.56.
RY advised that this was the process some time ago. Similarly I have seen the copper price of $3.1 quoted by RY. Not sure of the exact date but I would have expected the fig of $3.1 to have increased and assuming copper stays at $4.5, for the average to continue rising. Why has RY not used the increased price for the FAQ’s update.
Presumably the second price is that being used for the TEO, although RY has not confirmed this. Is it that the TEO does not work if you use historic pricing and is RY simply waiting until it does?
The second issue is what Nickel / Copper price is being used in any prospective sale. Presumably a buyer will want to use a Nickel price down at $6.56. Seller at current spot? Big difference. Possibly they should have a look at Western Areas.
Garf
Why update the FAQs if a sale is going to happen? They don't worry about updating it normally, so if a sale was on the cards still then you would think they wouldn't update it.
Is this an indication the sale is off?
I read the RNS that no one is under sanctions and they are taking decisions to finance things for longer than usual in the event something was to change which in my eyes is sensible
I’m not doing handstands I thought I was going to seeing an AMC RNS this morning but all this says to me is they are taking sensible risk decisions
"Now no legal representation in Russia means nothing involving contracts can happen until a new firm is appointed."
Utter clap, how long do you think it takes to appoint a law firm?
They had every justifiable opportunity to say negotiations had ceased, but they didn't.
Agreed SirL. I have seen many deals/ transactions where a new lawyer is appointed for each one. So a minor issue and would not stop a takeover deal.
Yes Roger, they've just been waiting for a war.
Your posts on various forums are generally those of an extrememly paranoid Chicken Little. lol :-)
" I can’t see AMC being bought for £10m, never mind £100m."
So why are you here?
Sale was never on...period.
All smokes and mirrors with RY, he's in no hurry, he gets paid handsomely every month.
Kammy
Yes it certainly looks as there was never anything concrete on the so called sale as the big sell off just below 4p put paid to that. No mention of the talk’s continuing but also no mention of them not , but until lawyers are put in place for dealings within Russia then I doubt this is going anywhere soon. When was the last time lawyers were supposed to come back on something. Was it Habib gate?
Yes while he is on his salary I guess next news will be after H1 when the money is needed for the Russia based team.
Any chance of any TEO information soon?
Lucando : "Why update the FAQs if a sale is going to happen?"
Good point, all I can think is RY has nothing else to do, so why not, probably took about an hour so not a bad hourly rate circa £100k ! Never ceases to amaze me how almost every RNS is ambiguous and mostly a non event, maybe it's just a way of saying we're still alive?
On the carting front: Although the angle has levelled off a bit, still inside a rising channel, would be nice to see a solid green candle into the weekend, or next week breaking out of the top. For a while I was thinking a retest of the 0.98 low was on the cards but if it remains in the channel it may not now happen. Quite difficult to call at the moment as some trading platforms still won't let you buy AMC, only sell, so the chart is a bit skewed.
https://invst.ly/xwxzd
There is a reason why RY issues vague, ambiguous RNS's, he doesn't want to be held to account, never mind 50 shades of grey, RY deals with 500 shades of grey, he will not to give clear insight, he will not give clear updates, and when he provides timelines, he misses them by a mile!!
Whether AMC get sold, sold for £100m or £500m, or not at all, it doesn't and won't make any difference to RY or to the BOD, they haven't invested hard earned cash into AMC, for them, its a cash cow to maintain their lifestyles
Kammy