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Jimzi -"Its still a market! Look at the graph - does it matter which market?" Put simply..yes. It does matter if false information is put on this BB. The link between AIM and the woes of PDZ are being made by others. I'm poiting out this is false. How can someone who is reportedly so involved with their investment they are sharing their phone calls with management on this BB yet not even know which market PDZ is listed on? To defend false facts suggests someone who is a troll or deramper/ ramper.
JSW could buy on open market but a TR1 notice would be issued when they exceed 3% so all would know and the price would rise.
Is it possible now that JSW could buy in here on the open market? get a decent holding for further down the line @ 30p!!
Its still a market! Look at the graph - does it matter which market?
How many times does it have to be said?? How many people actually have a clue about their investment?? Or do posters on this site just comment on shares they actually have not bought and know little to nothing about?? PDZ is NOT an AIM company !! PDZ IS LISTED ON THE MAIN MARKET.
Thanks for the post , they didn’t repeat what the box man said though but as you say, they are not going to say anything of substance
I also phoned and the young lady said she would get someone to phone me back and true to her word someone did phone this afternoon. Very polite and a general discussion similar to your phone call. If you feel that the issues can be resolved you stay investing here and if not sell. With AIM companies there always seems to be a skeleton in the cupboard of some sort to dampen your spirits?
I spoke to PDZ today, and had a reasonable chat (not the office boy/girl). Obviously can't say too much, but PDZ are sure they have done everything by the book and that there are no holes. PDZ don't know how long it is going to take to resolve, but he reminded me that last time there was a dispute a couple of years ago that the MoE found in PDZ's favour. He also reminded me of the ongoing talks with JSW, which could relate to both mines. i.e. all options are open. Did I learn anything new, no, but I didn't expect to. Generally some degree of reassurance that this really amounts to delay as opposed to loss.
Poland faces coal shortages as the biggest miner may miss its output targets for 2017. The chief executive at state owned coal miner PGG said last month the company was struggling to meet demand for coal from its major clients after cost cutting led to lower investment.There are quite a few influential investors in the Polish coal industry. Aviva has invested 372 million in Polish coal through its Polish pension fund OFE Aviva. It increased its holding in Polish coal companies by more than 45 million between 2016 and 2017. Europe's biggest insurer Allianz is leading a consortium underwriting the biggest coal plant under construction in Europe at Opole near Katowice project which is due to start operation next year. Up front capital costs for the development of Jan Karski mine totalling 630 Million Dollars with Chines banks expecting to finance 85% will be a major investment which in my opinion would be too expensive for JSW to get involved with along with the Polish government if they intervened. Remember they are closing a lot of mines and need new ones to replace old and unprofitable ones. Most of the sell off has been the comments made by a Polish geologist and may not be the stance of the MOE or JSW. We have already been to court once to protect our interests from another mining company that wanted to steal our mining assets and was up held in our favour by the MOE. The Polish coal industry also needs updating its coal mining methods and Australia and China can supply this technology. A joint venture could be probably the most sensible solution to all parties concerned if it was to get nasty! How that would work i don't know at this stage. IMO GLA
Research my bottom! Any luck getting hold of the co?
From Align Research PRAIRIE MINING � COMMENT RE LEGAL PROCEEDINGS IN POLAND �We this believe that the current weakness could serve to provide a good buying opportunity once further clarification occurs.� http://www.alignresearch.co.uk/prairie-mining/prairie-mining-comment-re-legal-proceedings-in-poland/
From a New article a new article of Prairie here clearly strengthened and would win in court imo .... It is worth noting, however, that Deputy Minister of the Environment and the main geologist of the country, Mariusz Jędrysek, in earlier documents concerning the K 6-7 fields alone, confirmed that on the part of PD, there is a claim to establish mining usufruct related to this specific area. The investor explains that as a result of the implementation of the four-year exploration program, he obtained a decision approving the geological documentation of the Lublin deposit and, on its basis, prepared a deposit development plan that was approved by the Mining Office. - According to Polish law, these are the only requirements that must be met by an entrepreneur to obtain a right of priority. Prairie met these requirements. We expect the environment minister will also act in accordance with Polish law and conclude a mining usufruct agreement with the company covering the Lublin deposit - comments Ben Stoikovich, president of Prairie Mining. The arguments of the Ministry do not convince some experts. - The position of the Ministry of the Environment is surprising - says a researcher at one of the leading Polish universities who wants to remain anonymous. He explains that in Poland deposits of coal, copper and potassium salt were recognized by the State Treasury many years ago. It is normal practice, then, that an investor buys geological information from the Treasury, and then performs own drilling in order to better identify the deposits. - If we accept the Ministry's interpretation that the investor should recognize the deposit only on the basis of his own work, then we conclude that the minister can not sign a mining contract with any entrepreneur - the expert confirms. The whole article http://translate.google.com/translate?sl=pl&tl=en&u=http%3A%2F%2Fwww.parkiet.com%2FSurowce-i-paliwa%2F304099999-Prairie-Mining-a-a-Ministerstwo-Srodowiska-Spor-o-lubelskie-zloze-nabiera-rumiencow.html
Actually plus 9 percent in Poland. https://stooq.com/q/?s=pdz
Nice intraday rebound on ASX today. Good sign.
John - looking forward to your comments after you speak to the board. We certainly need some clarity - did PDZ mess up the paperwork or is this a more complex JSW plotted delay with the assistance M of E (who have a stake in JSW) or something in between??
I listened to the Vox Report for 3 April, and frankly it said nothing and his earlier report in February said nothing that wasn't already well known. IMHO waste of time. Hence why I said I will try and talk to PDZ direct tomorrow
So many scenarios! You also have the coop RNS 3 days before - the gov own 55.% of JSW. You have a new MOE minister 6 months ago. The legal docs were filed 1 minute after the deadline - must have had drafts done for sometime & just waiting to be filed.They probably had them drawn up before they signed the coop agreement with JWS - who are the gov!! Scenaros range from bureaucratic missed deadline to theft! Forget Indonesia comps - Poland is in and needs the EU - and that is a higher court than the national. Is the man on VOX right?
If the government is trying to push the SP down and force PDZ to sell, then that proves they want the mine as a priority. Which is good news in itself. Even if dirty tactics suceed, the resultant buy out will surely still be many multiples of the current mcap of �48 million for a resource worth seveal billiob. Even if the dirty tactics net them a large discount, this is still much better than PDZ not being brought out at all. If on the other hand the government is sinking to the absolute bottom and trying to divest PDZ of the asset for nothing, and then PDZ win the court case, the damages the Polish government will have to pay PDZ will similarly be many multiples of the current share price. If the government manage to get the mine and get off scot free then granted, we lose everything. But both the above scenarios,- and both of which are liklier - place PDZ in a stronger position than it was prior to the news. I suspect the real reason why the price has collapsed is not that the market thinks we will lose the mine. If it did, I think the price would be much lower than it is now. I think the problem is that this may well take time and lose us all the nice head of steam we had built up. Is this thinking loo
I will try speaking to PDZ on Monday
A company called churchill mining found a world class coal resource in Indonesia, the indonesians used some bad tactics to revocate the licenses. They used forestry excuse ie chopping trees in forestry area. They paid the courts in indonesia to agree with their decision. Churchill went to international tribunal and then they added a new allegation of forgery, claimimg the signature was written by autopen and the regent didnt sign it. International tribunal agreed with indonesia and threw the case out, they didnt even listen about the forestry allegations. All im saying is to everyone its quite clear the state is trying to steal the world class resource. For churchill the verdict which favoured the state took in total 7 years. This can be a long litigation process and no guarantee pdz will win even though we all know whats going on..
Yep - thats why its 50% down - lots of questions but no one knows the answers - unless Lady would care to enlighten us of her chat. More strange is Landsdown and JP Morgan getting 5% each 1 week before. Not much of a volume sell off either.
Surely the permit / rights were gained by PDZ prior to spending all the expense on BFS? Would it be correct to assume the Polish are now saying reviewing the permit it is not valid due to a technical error/ insufficency by PDZ in the paperwork? If so etheir PDZ have made a gigantic mistake that will devestate the company or Polish are trying to use dirty tricks to take away the assests. Ethier case is not good. I would have yhought the latter would not be the case for an EU company. I will not invest an any eastern EU contries again if the later is the case.
Hi Ladytrade, what they said in PDZ office TO you?
On vox market interview he is sounding like its business as usual, rather odd.
If this were a UK type application to the Environment Agency or another relevant planning authority it would have been made clear to the applicant that more information was required before granting a permit. PDZ has to say whether they were Informed of a lack of detail within the specified time period or whether this is something the Ministry has announced only in response to the legal challenge. This is very important.