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He’s an investor!! The point is why be so agrressive with MFN and resorting to int. treaty enforcement if it’s a case of incompetence/ admin oversight. Even if the tactic is successful, remember gov peeps are bureaucrats , tend to be bitter and not profit driven. Exciting whatever.
The market will always, without fail, punish a company with impunity on such an RNS. That is the nature of the market. Seems PDZ have been annoyed by lack of information on their application (probably highlighted by talks with JSW). Seems a rather bold move and perhaps not the best option. As an aside PDZ should really update their shareholders on BFS which is over due - irony .
Absolutely over reaction today. JPM, Landsdowne and the brave private ones have a big chance now. Poland won’t risk their international agreements. If that will go to international court, Poland possibly has to pay a lot more than current value of Debiensko and Jan Karski. PDZ did the only logical step to safe shareholders interest. They used facts and are 100% correct. JSW has been in the know about this circumstances before they announced a possible cooperation with PDZ.
If there's absolutlley no problem, why have such a provocative RNS cause if I was Polish, I'd be right peed off with the tone. May a neg tactic but diplomatic it is not!
You're right Nateroyd - Alan Green talks a lot of sense. This is way oversold.
Listen to the podcast on Vox Markets
I and I think many are growing weary of AIM, a company releases fantastic news and most times the SP wimpers up a few % and fails to hold those gains, yet a little bit of bad news sp's plummet.
I agree with both those comments. I don't really understand why a drop of this magnitude as been insemianted though. The MMs refused to move the price for a whole week under what appeared to be constant buying recently. Then they move it down by 30% on a few trades- no big sells at all, and this isn't a tiny cap company.
All poss but as its uncertain - you don't know what the proportion is. They could have said it may be late due to administrative problems and we have agreed with MOE, this "injunction" is a precaution... Wording seemed alot stronger which is actually quite impressive by a BOD - but it does appear to be an inflammatory RNS rather than conciliatory . But who knows - could be a simple ruse.
I think it's important not to get this out of proportion. The RNS did not say anything about a refusal. Delays happen for many reasons including incompetence. Just think about the continued delays in the UK planning system. PDZ have been obliged to take the action they have o protect their position. A totally different RNS would have been issued if the directors were aware of what is being read into this RNS by the market, where incidentally the level of shares traded is minimal.
On behalf of the Polish BoE? The market assumes a sinister motive...to somehow divest Prairie of its mine via the back door. But could it just be bureaucratic incompetence/ intransigence? Maybe the necessary piece of paper will be whipped out shortly now Prairie is making more of a fuss....
What news to get after the easter holidays..
Yep, normally you'd guess where its oversold but the downside currently is not poss. to determine - without the gov on side, where is the bottom? Unlucky for the co to say the least.
.... a fist is made. A public fight with swords out with any Gov Dept in any country is a most unwelcome affair, even if it is a necessary evil with the present circumstances.
It is time for the EU and the Australian government to intervene as quickly as possible.
Corrected: Prairie Mining coal launches legal proceeding against Poland over Karski mine concession - filing Australian coal group Prairie Mining launched legal proceedings against the Ministry of Environment as the ministry failed to grant the mining usufruct agreement concerning the Karski mine to Prairie over the three month obligatory period, Prairie said in a market filing. Prairie applied for the agreement over Jan Karski in late December 2017 and sees the ministry's failure to grant it within 3 months as "a breach of Polish law." "Accordingly, the Company has now commenced legal proceedings against the MoE through the Polish courts in order to protect the Company�s security of tenure over the Jan Karski concessions," the filing reads. These measures are "also intended to prevent the MoE from granting a concession to any other party until the full court proceedings are concluded." Prairie will consider "any other actions necessary to ensure its concession rights are reserved which may result in the Company taking further action against the MoE including invoking the protection afforded to the Company under any relevant bi-lateral or multi-lateral investment treaties or such other actions as the Company may consider appropriate at the relevant time." mie/ mbn/ http://biznes.pap.pl/en/news/pap/info/2514189,corrected:-prairie-mining-coal-launches-legal-proceeding-against-poland-over-karski-mine-concession-
Poland is in the EU not Africa. The delay in issuing the permit whilst the state owned company is in potential negotiations to buy the company or a portion of it is blatant, worthy of the worst examples in Africa. Unless Poland wants to be viewed as the such a despotic place to do business it had better sort this out in a fair and legal manner. Still think Praire hold all the cards and if management are as competent as I think they are, we should still be able to overcome this hurdle.
Government may not take this well but they won't come out of this smelling of roses either.
Am pretty sure they are making some calls about this. It needs resolving quickly. They must be spitting feathers!
It was known by the market though.
you are, suing the government ain't going to be taken well. Suprised its held up this high in this jittery market.
Sure there is no buyer in this frightening momentum. So the mm s have a very easy game. JPM and Lansdowne paid more for their last shares. Sure they did research the situation about the environment stuff. Maybe they will open their pockets and grab some more shares. It needed only a Volume on LSE from 80.000 shares to pull down the sp -20%.
This is n ow 30% cheaper than a couple of weeks ago.
At these prices JP Morgan and Lansdowne could pick up some cheap shares
I understand that step from PDZ as precautionary measure. But market seems to see it like Jan Karski is lost. The naysayers have their day now. Stay strong, hold your shares tight.