Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This is getting ridiculous now. There is a suggestion by one poster elsewhere that the Chinese authorities at the highest level are blocking international remittances by private Chinese cos, for whatever reason you might want to surmise.
That being so, and surely PVR must have an inkling of this possibility of state interference rather than naively accepting APEC's lawyer's word for it, does PVR have a Plan B?
By that I mean a Western multinational oilco willing and able to step in at short notice on similar or slightly enhanced terms (for them), even dependent on all the relevant government survey and drilling licenses being approved? We have no idea if feelers have been put out, and if behind the scenes discussions are taking place. This is just common business planning, not trying to shaft APEC.
From earlier post..Remittance Notice …..dated 5th JULY.... Two weeks to send just 10m.... its getting ridiculous now and we will probably get an after hours RNS saying backstop date extended once again to mid next week. LOGP should be asking questions now.
Receipt of Remittance Notification
Providence has received a HSBC remittance notification dated July 5, 2019 from APEC's funder for the transfer of US$ 10 million in favour of Providence's bank account in Dublin with a payment date of July 9, 2019. Of the US$ 10 million, US$ 9 million is to cover EXOLA front-end and pre-drill costs with US$ 1 million to cover APEC costs. Therefore, a backstop extension to July 10, 2019 has been agreed with APEC to allow for the receipt of funds. A further update will be provided in due course.
You correct Rocklawn, but check the data source. PVR closed up 11.6% at 13.95c on the ISE which is 12.5p a full 16% above the London close. A good sign.
https://markets.ft.com/data/equities/tearsheet/summary?s=PZQ:ISE
Phoebus... the Irish market is in cents not pence....
.... I wonder if we will get another RNS today pushing the date back for the 3rd time....they keep saying they don't envisage extending the backstop date.... Then they extend the backstop date!!!
That's coming up to 3 years old
from the pvr bb http://www.allenovery.com/publications/en-gb/Pages/Chinas-new-restrictions-on-outbound-investments-and-remittance.aspx
Yep, PVR up 11.6% on Irish market to 12.5p on 259K shares traded, which is good volume for there.
that's the Irish for ya!
Taken from the PVR board, the share price is up 11% in Dublin whilst being 5% down on the LSE. amen of that what you will...
Will do Urraca.... But business is business and it's only 10m
Check out the PVR chat, bench, for a discussion on both getting money out of China, and then into the EU. It is not that straightforward sadly.
This is from RNS on 8th July...10 days ago.... its only 10m not 10billion... I cant see why its taking so long...if not done in the next few days we should have RNS explaining why.... surely not another push back.
Receipt of Remittance Notification
Providence has received a HSBC remittance notification dated July 5, 2019 from APEC's funder for the transfer of US$ 10 million in favour of Providence's bank account in Dublin with a payment date of July 9, 2019. Of the US$ 10 million, US$ 9 million is to cover EXOLA front-end and pre-drill costs with US$ 1 million to cover APEC costs. Therefore, a backstop extension to July 10, 2019 has been agreed with APEC to allow for the receipt of funds. A further update will be provided in due course.
Meant the other thing is they have some sort of date given by HSBC when it will complete by
How can they give a extension till Friday or have they not learnt yet. The other thing is they might have given a date when it will complete by??
Lets hope so liquid1…. 50%+ I always welcome on a Friday...maybe even more!
Update and Extension of Backstop Date
The Company can confirm that it has received a letter from the legal representatives of APEC’s funder advising that on July 9, 2019, the funder arranged for the remittance of $US 10 million from HSBC to Providence’s account. The legal representatives further advise that the remittance is expected to be completed shortly pending compliance checks by the bank. Accordingly, to facilitate this, the Barryroe Partners have agreed to a backstop extension of on or before July 19, 2019.
Yep they sure are https://invst.ly/bauzw
….taking things down to the wire...
Yes hear what your saying too, but we know things dont go as planned in this game, But we have nearly made it, second round of doing the permits we should be just fine as it will be fine combed, We know the money will clear too no reason for the funders legal team to BS us,
Once drilling we will have 5 bagged to 10p but this climbs fast and with the available shares could be well higher
I hear what you're saying shibs, and the big buy after the market closed makes me think this will come good, but honestly, the farm ut signed 20 Sept, and permit issued 8 Oct, and now pushing on towards a year later we don't have a permit, and we don't have the funding? It's enough to make an arthritic priest dance a riverdance jig of frustration.
Patience all, it doesn't matter if this takes a little longer we have the permits to look forward to aswell, soon this wil be up another 100% on that news too, hold
Another day closer hope this is worth the wait.
And the tide is rising as well ... they must have got it in coin and are counting their way through it....
PVR rising again