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It is my view that the only people that are able to see the actual award is the parties involved and their advisers (the lawyers). I think KPMG may see the award but only with Frontera's permission - does anyone have any opposing views on that?
For me, the key paragraph in the report is this:
"On 17 April 2020 the arbitration tribunal rendered its final award as to the matters in dispute. The arbitration tribunal has upheld the Company’s and SAOG`s interpretation of the PSA as it defines the parties’ respective rights and obligations. Among the issues decided by the Arbitration Tribunal, it ruled that the respondent - Frontera committed material breach of the PSA by its refusal to relinquish and return to the State the exploration area. According to the award Frontera and Frontera Resources US LLC are obligated to reimburse the amount of the mineral usage tax paid by the Company on behalf of Frontera as well as the costs incurred by the Company with regard to the arbitration proceedings. The arbitral award effectuates withdrawal of and dismissed the counterclaims that had been filed by Frontera. The arbitral award is final and binding on the parties, in accordance with its terms and the PSA."
The key part of that is the bit after "According to the award..". Why does this part only talk about the mineral tax and payment of costs. Seems a carefully worded paragraph to me.
My views on the KPMG report (and indeed any audit):
1) One single set of accounts can be presented in many different ways. We have often seen many accounts presented "creatively"
2) KPMG will have got management sign-off for their own protection. i.e. management will take responsibility for those sections that are opinion based.
3) The statement that is being referred to is in the 'Contingency' section. There is an obligation on the auditors to include possible future events. There is no guarantee that those events will come to fruition.
4) How many accounting scandals have we seen where accounts were not presented to reflect reality. I'm not saying this is the case here, but I would not paint them in a light that they never get things wrong.
We're all on different points on the spectrum: optimistic, pessimistic and realistic. Not sure why anyone needs to p1ss on the optimism of some folk who want to pin hopes on B2O's posts which, as of now, may be unfounded. It certainly isn't dangerous to do that from a financial perspective since we cannot lose any more than we potentially have. Of course there could be mild effects from the come down if this does not end well, but I think some folk are just looking for that small flame in the embers of this long episode.
The vast majority of what is posted here, both positive and negative, is based on speculation and conjecture. All we can do is find material which might bring more hope or dampen our spirits. And on that, there's many posters here that do a fine job on that - so thanks go to them.
I just struggle to comprehend how a lowly company like Frontera could court so much attention from politicians in Georgia and US. We will likely never find out about the things that have gone on behind the scenes. We'll just have to wait to see how this plays out.
I quite like his/her enigmatic posts. B20 could quite easily just not post, after all, there's nothing to be gained by ramping following our delisting.
The posts remind me of when I was trying to get out of an Escape Room and needed a hint, but the hint was so cryptic that I needed them to spell it out for me in plain English. Bushido lol
I'm looking out potentially for Sept/Oct as a time to buy in the run up to the US elections. Trump will want a firm footing in the economy to improve his chances of re-election.
If it's any consolation, the US dollar is up Vs the rouble. Not that it has much positive impact with our relative inactivity.
Oil price is also down massively which, if we were drilling, would be favourable depending on how far out fuel is bought. Don't think we have any big plans for this year though on the operational side.
Is this interview at odds with the previous interview? I seem to recall (although I can't remember where I read it) that the GG were after $80/90m which altered our thinking as to what the arbitration was about. This latest interview suggests that the GG are after a bigger slice of the pie.
If RY is to be believed, then he did say the resource update is due this year, and met work in Q1. I would hope it would be released before the AGM otherwise the value for the event will once again come from the paid-for drinks.
RY will outfox you all. If he's in London he'll be staying in a Travelodge this weekend.
Do we know for a fact that the GG have recovered the 5%? If so, where is that stated?
And if that has happened, what is the point of hope going after the remaining assets? Doesn't add up for me.
A mention of AMC here:
https://amur28.info/news/dv/magadanskaya/26337/
specifically:
"The plans of the Amur Region include the development of the Elginskoye gold deposit, the copper-nickel deposit Kun-Manye, the Ogodzhinsky deposit of coal, the titanium-magnetite deposits Bolshoy Seym and Kuranakh, and the construction of the Erkovetsky open-pit mine.
What is needed for development: Simplify the procedure for the use of subsoil man-made (spent) deposits, increase federal funding for the initial stages of exploration, exempt from all types of tax and other payments of enterprises investing in development of deposits located in hard-to-reach territories for 3 years.
What the region will receive: The volume of investments will amount to 60 billion rubles, 5.5 thousand new jobs will be created. GRP growth is more than 9 billion rubles."
There is also mention of development of bridges and railways although I'm sure if they're helpful for us.
I won't believe it until I see it in a Gantt chart. He loves a Gantt chart does RY.
If speed is your thing then an electric car now holds the accolade of being the fastest road car.
https://www.bbc.co.uk/news/business-47418405
Now on company website
https://amurminerals.com/content/wp-content/uploads/Executive-Summary-20190301.pdf
I hope this is as well attended as it can be. Having spoken to the board they have on occasion based the location of the AGM on the level of attendance at events such as this.
A shame then that not much notice was given. I'm unfortunately unable to attend as I'm away. I'm sure many of us have questions that we'd like answered.
He reminds me of one of those people that have made millions trading and then find it within their heart to offer free seminars.
That he seems to only frequent this board, for a company whose shares are relatively illiquid, and where the spread is often quite prohibitive to traders, we should be most grateful.
I've reported two posters just now...poor form to set up an account to impersonate another poster.
At £26.79 you may only need to buy one ticket. The drinks reception must be good.
In other news....
https://www.ft.com/content/2075038a-cc58-11e8-b276-b9069bde0956
We know this is happening and at pace. A slight climbdown from 40% but nevertheless still a catalyst for the shift to EV.
I'm still hopeful that the PFS will be released before the AGM, not least because share options cannot be awarded if the board have price sensitive information. Under the market abuse directive, a grant of options (should the BOD wish to include that in the resolutions) constitutes dealing and so the PFS (and any other price sensitive information) would have to be released.
It follows therefore, that if the BOD are able to put forward share options as a resolution, then they will also be able to buy shares in the open market.