Firering Strategic Minerals: From explorer to producer. Watch the video here.
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going on a bit long for me - so closed my sb at 32p GLA
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
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.
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.
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.
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.
If thats the case bluke why threathen with legal action?
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.
It was poss that the moe would signed off as this was an admin oversight. Now with the passing of time, this does not look likely. Thats all. Still made a bit
I hope pdz stick it to the polish govt, do not be intimidated by them.