RE: Kyrgyzstan Arbitration2 Feb 2024 20:22
The estimated current value of the asset is accordingly in the region of US$ 151 million.
At the time of the ban, MetalNRG held a 9.9% equity interest in the asset; since the ban, MetalNRG has supported IMC with a convertible loan facility for a total of US$ 341,441 to date. The agreement between IMC and MetalNRG provides that repayment of the convertible loan facility is either (i) via a conversion at 3 times the principal amount advanced into equity in IMC, if the project is reinstated; or (ii) repayment of 300% of the principal amount advanced in cash, in the event that IMC receives or reaches a compensatory settlement with the government of Kyrgyzstan.
Either around £1m in IMC Shares or a similar cash amount from settlement. Shares would be nice, IMC will roar and multiply the million, if the asset returned (not the likely outcome) but £1m cash would still be kerching.