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KF, I might have quoted incorrectly ( unintentional play on words ) I have seen it reported by Reuters but can’t recall seeing an actual report from the pm or moe... apologies if I have misled anyone.
Any thoughts from you or others on how this will play out? Do you think PDZ have/can negotiate a good deal for shareholders I’m guessing about 50p a share outcome. GLA
I'm aware of the Reuters piece, but have not seen anything confirmed. Can you provide a link to that report?
Let’s not forget the prime minister and minister of energy have issued a report approving of the take over!
Fight for the president of JSW. Trade unionists defend him against being fired.
Translation of the title of a Business Insider article. It suggests that he may be fired for not following the instructions of the Ministry who want JSW to buy Polimex-Mostostal (an engineering and construction company). However, the unions will defend him against being dismissed.
https://businessinsider.com.pl/gielda/wiadomosci/odwolanie-prezesa-jsw-daniela-ozona-list-zwiazkow/l6j8pdf
nice one - cheers for the 'heads up'
Google : Reuters JSW ... news broke yesterday saying the Polish moe would sack the ceo of jsw on Wednesday... since then doubts are surfacing this will actually happen. Some interesting posts on hotcopper , minimal shares sold and price rallied later in the day... big holders still holding... halve faith jsw will pay a premium for our assets
From reports i have read on Australian Board Hot Copper (unconfirmed) there is an internal dispute within JSW as to the future of the CEO.
Taking a hit last thing yesterday and again this morning, presumably some noise coming from somewhere?
Crunched the numbers on Prairie mining back in the day, high value asset(s) with huge demand from within the steel sector on their doorstep, no more expensive Aussie coking coal being shipped half way around the world ... only days away from an agreement between jsw and pdz is made imho... GLA and have a nice weekend
News also reported by Reuters and New York Times... Aussies know their coking coal... things are moving at long last ££
Poland’s JSW (JSW.WA) is considering a bid for control of Prairie Mining (PDZ.AX) to tighten its grip as the EU’s biggest coking coal miner, two sources familiar with the situation said. This is on the PR firm website this afternoon http://www.branduk.net/prairie-mining-jsw-bid/
Could this move up late this afternoon on plenty of buying mean news is not far away.
You would like to think they haven't both wasted each other's time for the past six months!!
JSW (again) says that a decision on Prairie assets is due soon (as they did in June):
"JSW coking coal works on Prairie Mining asset valuation, further decisions likely in mid-Sept. - CEO"
http://biznes.pap.pl/en/news/pap/info/2597306,jsw-coking-coal-works-on-prairie-mining-asset-valuation--further-decisions-likely-in-mid-sept----ceo
The Prairie share price rises by 17% despite Prairie (again) stating that discussions are at only a preliminary stage:
"Prairie Mining Shares Jump on Prospect of Polish Coal Asset Deal"
https://www.morningstar.com/news/dow-jones/TDJNDN_201808281684/prairie-mining-shares-jump-on-prospect-of-polish-coal-asset-deal.html
but 28p to buy 10000 - bizarre!
40p to buy 5000 shares - is some news about to land?!
Nothing new, but provides a use summary of the current situation.
"......JSW, they disclosed that they expect to make a decision on any potential transaction with Prairie by the end of August 2018"
".... The Lublin Regional Director for the Environment issued an official notification indicating that the process to establish an Environmental Consent decision for Jan Karski would be extended past 30 June 2018 due to further information requests to supplement Prairie's original Environmental and Social Impact Assessment and ongoing local authority and public consultations."
For the right decision I can wait another four weeks!!
PDZzzzzzz...!
English translation of a Polish Press article
http://www.branduk.net/jsw-a-decision-soon-on-prairie-minings-pdz-assets/
JSW Seeks Opportunities to Expand Its Resource Base (Press Release - English - 22-06-2018)
https://www.jsw.pl/en/investors-relations/press-releases/press-releases/?tx_news_pi1%5Bnews%5D=1932&tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Baction%5D=detail&cHash=98bcf1b3b2e99ebc0c813edb934bbc3e
https://translate.googleusercontent.com/translate_c?depth=1&hl=en&nv=1&rurl=translate.google.com&sl=auto&sp=nmt4&tl=en&u=https://www.nowiny.pl/biznes/140560-jsw-rozwaza-stworzenie-nowej-kopalni.html&xid=17259,15700023,15700124,15700126,15700149,15700168,15700173,15700186,15700191,15700201&usg=ALkJrhhSpJY3drwKgNZ9D2RqOoxMRcHcqw
https://translate.googleusercontent.com/translate_c?depth=1&hl=en&nv=1&rurl=translate.google.com&sl=auto&sp=nmt4&tl=en&u=http://gornictwo.wnp.pl/jsw-zabezpiecza-swoja-przyszlosc-i-tworzy-fundusz-inwestycyjny,325251_1_0_.html&xid=17259,15700021,15700124,15700126,15700149,15700168,15700173,15700186,15700190,15700201&usg=ALkJrhg2aaRW1jM-KRHYj4scVzYmQg5A6w
So this came out in the Poland press yesterday and looks like Prairie Mining will sort this out http://www.branduk.net/prairie-mining-pdz-see-shares-rise/