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maestro: I think that they are mandated to do that as a matter of process. They would be doing whether MoE lost the paper down the sofa or if govt tanks had appeared at the site.
If thats the case bluke why threathen with legal action?
mastro1 I agree it becomes very difficult to put a timescale on any legal proceedings and it is worth noting previous case's. My hope is the MOE backs down and it does not get dragged through the Polish courts and then (if Pdz are not successful) the European courts. II's do lose money and get things wrong but generally they come out on top lets hope that happens here. Bluke: I would be very happy if the MOE confessed to a balls up.
Wait for the government to open its mouth first. Then we will know if it is trying to fight and if so whether it is vying for outright theft or getting the asset cheap. I still maintain there's a good chance it MoE has just ballsed up its paperwork.
they may in fact do, lets be clear we all think pdz have the better chance to win, thats not the issue, the issue is this can drag on for over a year, submissions after submissions. Why i am saying this is because Churchill mining found large resource in Indonesia, 10 years on they are still fighting in international arbitration. The state here complained of forestry breaches, ie chopping trees in forestry areas, this was total farce but the corrupt courts agreed and chl went to arbitration. The forestry allegations were not discussed but new allegation came that past documents were not authorised, chl lost and currently fighting annulment of award. At the time two large indonesian investors invested in chl after these allegation, ll's buying means nothing in the world. All im saying just be prepared to wait on this, can take time.
I do see the current situation dragging on for sometime but i don't see this dropping to the low 20's IMO any drop below 30 will bought up by Lansdowne and J P Morgan. They have both topped up recently and i can assure you they are privy to a lot more detailed information on the legalities than us PI's. Not a share for making a quick buck but LTH's will be well rewarded.
Jimzi What did you expect, this can take years it legal proceedings now. The govt are just trying to find irregularities so they can steal the asset and give to jsw. Low 20s real possibility. Imho
going on a bit long for me - so closed my sb at 32p GLA
I would not expect the Ministry to back down immediately. It is of course populated by bureaucrats and politicians. There is too much ass-covering and face-saving to be done. I'm also not convinced yet that this is any sort of JSW/ MoE/ Central gov't plot to steal assets - still looks like JK and Debiensko can be assesed separately from my perspective - though I could be wrong of course. Still leaning towards current weakness looking like a buying opportunity. But still yet to actually top up...
This article explains that both the Ministry and PDZ are holding firm. However precedent appears to be on the side of PDZ. https://www.money.pl/gospodarka/wiadomosci/artykul/wojna-o-kopalnie-jan-karski-ministerstwo,60,0,2403132.html
This will lift up again.
PDZ being well bought this morning....lowest ask on show is now 33p and no huge amount at that.
and here again black on white as link. For me, this is another great message JP Morgan has increased. Thus, both big players have lost no nerve in the big sell-off and used the favor of the hour to further increase. Maybe we will see more messages from both big players shortly https://www.investegate.co.uk/prairie-mining-ltd--pdz-/rns/holding-s--in-company/201804120700066537K/
JP Morgan joining party isn't new, they joined third week of March. This announcement merely shows a small increase in shareholding from 5.05% to 5.3%, but than a reduction but not a big new ii.
Duh....thanks cottoner
Look further down the RNSes. JP Morgan hold 8,874,110 - 5.3% Lansdowne hold 10,154,610 - 6.09%
That's the total number of shares in issue - not their holdings.
both major holders hold the exact same total of 167,498,969?
JP Morgan joining the party - got to be positive.
Very nice to see confidence from the big money boys!
Lansdowne hold now 6,06 percent from Prairie. From 5,4 percent. Very good news imo https://www.investegate.co.uk/prairie-mining-ltd--pdz-/rns/holding-s--in-company/201804110823105419K/
New to this (UK/Euro) market. Question on this: on the RNS it states that the 'instrument' used is a CFD (Section B2). Is this different to owning ordinary shares, or is it just some sort of London Stock Exchange jargon? Thanks
Obviously see the bigger picture and happy to average down from their early buys.... Two tier 1 assets here, many other IIs I am sure will be considering taking stakes at this low level too....
Lansdowne topping up, so it would appear they�re not too bothered about recent events...
Many companies/individuals do not keep to the timelines of when they are supposed to declare a major interest in a company. Market regulators rarely make examples of those who do this, so it is becoming more and more common.... JSW would be very clever to build up a stake at this level. Might add a bit of tension and spice to the ongoing talks though if they suddenly declared a 5 or 6% stake....