Member Info for addicknt

Q, just to re-emphasise, my argument is about practicality, not the need for change. Similarly, I'm very much a supporter of Lovelock's later argument - that the world would be better off preparing defences against climate change, and that we can do little to avoid it.
I'm a keen gardener and am fortunate to have 3.5 acres. I see the change on an annual basis and I also see how quickly it's escalated. I recognise what needs to be done, but politicians need to return to reality. That's all I'm saying.

Q, regardless of the need for emission reduction, I'm simply referring to the reality. We will not be able to achieve it in the timeline imposed by government - it's ludicrous and will eventually be adjusted. As it stands, nothing on god's earth would persuade me to buy an electric vehicle at the moment.
As for China and the rest...they couldn't give a flying f..k and must look at the West and roar with laughter.
We'll get there eventually, but not for a very long time.

bonker99, and this is one of the reasons the utterly absurd ban on petrol vehicles from 2030 won't work. It was a totally arbitrary date pulled out of the hat by useless politicians who appear to have taken no account of what would actually be required to make this achievable.
We are living in an age where it's blindingly obvious that politicians around the world are simply very, very low quality individuals. For christ's sake, look at this country - we can't even build one battery manufacturer, let alone the many which are required.
At some stage the morons in Westminster will wake up and push the date back. By the way, did any of us actually vote for this ban? If we did I must have missed it.

You sound terribly defensive about your investment in Poly, which is hardly surprising given you must have dropped about 40k on your trades since the start of the week. Mind you, to a man of your vast wealth, that's a mere drop in the ocean. Anyway, never mind, I'm sure everything will be fine and dandy as soon as it trades on the well known Astana stock market. And don't worry, Kazakhstan isn't the most corrupt country in the World...it's only seventh in the global league table.

Yes, I can see it's going really well for you MR. Your purchases the other day were inspired.
Keep up the good work.

Q, we live in hope.

The way Poly's going you'll be lucky to be left with 12p in total. Losing a third of its value in two days! What a shame.

DM, I think you're absolutely right. I didn't read it carefully enough.
I imagine the document will contain a description of the combined business, the benefits of the merger, consolidated financials, cost savings, a forecast of some description and an explanation of the strategy.
In my day this stuff would appear shortly after a deal had been announced (I wrote enough of the damn things) and was the key document seeking shareholder approval. Things must have changed and I'm struggling to understand its purpose, although I'll be very interested to read it.

Does anyone know why CGP are producing a prospectus? And what is the relevance?
Normally you'd see this done prior to a vote so that shareholders would be able to understand exactly what it is they're agreeing to.

sean, following what's happened over on his favourite share, I suspect MR is feeling a tad sheepish.

RK, yes they do count towards the total issued share capital. But in the event of a bid/sale, or any other form of corporate action, they are effectively null and void.
If they are issued to a third party they immediately regain their rights, so your second point is correct.

RK, sorry to disagree, but they don't. Similarly, they have no right to a dividend.In fact they lose all rights normally attached to ordinary shares.

Q, I may be wrong but I don't think treasury shares have voting rights.

I guess we'll find out the answer to my question when the next quarterly review is published.
Whatever the answer, if I were running the show I'd hang-on to the shares which will be heading for our treasury. It would be insane to sell them at the current ludicrously low price, particularly as we are currently wedged-up. They should be kept in the drawer for a rainy day.

know that cost savings have been implemented, but it would be interesting to find out what our current cash burn is.
Where exactly have savings been made? By how much have head office and admin costs been reduced? How much is currently being spent at Cascabel - what's the split between the work on "enhancing the value" and day-to-day running costs?
In other words, how long will our current cash pile last?

sean, the problem I had is that I just don't like pompous braggarts...they remind me too much of my late father-in-law.

easyp, I think I'd dispute the claim that BHP have not shown more interest. The fact is they've invested a good deal of cash and, over the past two years, have become active investors - albeit not in a positive way.
A huge wedge has been driven between the company and them and the key question is, how will they eventually react? back-oof and slink away with their tail between their legs; or stand and fight? Mt money's on the latter.

sean, you were really taken with Quibbles, weren't you?
Everything he said about the company was wrong and it was quite obvious he knew very little about the business. And as for his anecdotes...
Having said that, he shouldn't have been given the heave-ho, which was a ridiculous overreaction.

The idea of a buy-back is fanciful, to say the least. And it made little sense to pay any cash away to CGP shareholders, even if it does mean greater dilution. (I suspect we had no intention of doing so and only included the option as a potential sweetner to any reluctant CGP shareholders - which is what I suggested at the time)
This company, like all explorers, is a cash guzzler and we need to keep out hands on as much as possible. Even if a bid is announced tomorrow, by the time it is concluded we'd almost be running on fresh air. (that's a bit of an exaggeration, but you get my point)

Sean, technically speaking the merger hasn't completed yet, as the RNS makes clear.