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Wisha, agree with your analysis; the requirement for extra resource by JSW (Mittal, etc), the proximity of Debiensko & its proven high quality and the buoyant price of such high grade coking coal plus JSWs stated aim to acquire coking coal assets means that a deal of some sort is inevitable, the question is merely what form that deal takes and when it'll be executed. Clearly both JSW & Praire management have been in talks, hopefully we'll have some clarity soon as to which direction they're heading, whether that'll be in days, weeks or months is the question I'm struggling with. Just going to have to be patient I suppose.
Wisha, I gather from some of your earlier posts you know a bit of Polish or are you using google translate like the rest of us. Just wondering whether you were in a better position to judge any timescales mentioned in the Polish press. You tend to miss the general sentiment through the prism of google.
Ahhh...already posted. As you say, big vote of confidence. Looks like they can read the runes as well.
I bought in at around 36p and some more at 40p and have been watching this compelling story unfold with interest. I agree with your analysis Wisha, it all depends how the deal unfolds and whether its JV, takeover and whether it's for one or both of the mines. I'm sure it's not lost on the management of JSW that an entire takeover at say �1.50 would still only cost them �250 million and tick all their boxes going forward and thats's still only about half of what JSW has recently raised specifically for acquisitions. I'd presume this could take months but the more work Prairie do to progress their projects the more expensive it'll become for JSW. Whether decent due diligence by JSW trumps urgency in order to snap up a bargain is anyone's guess although I would have thought that management of a company the size of JSW probably tends towards some proper analysis before they can move forward. Having said that I'd love them to make an offer on Monday but I know that's not going to happen. Interesting watching the SP behaviour of late though and the nature if the trades; plenty of buying does push the price up whilst big selling days seem to remain static as they are simply mopped up by persons unknown. Completely contrary to what we normally see on AIM, which certainly suggests something going on in the background.
This BB is virtuality unusable IMO, not because of the clueless numpty (I filtered him ages ago) but because of all the equally clueless idiots responding to him. I've now started to filter them as well as they're just as disruptive to the board as he is. Do yourself a favour and filter him so you're not even tempted to respond.
Steve Hughes Interview looking like tomorrow. https://twitter.com/AndrewScottTV/status/958303816956497922
Just for clarity... On page 12 of the old presentation it says: "Title is IUP Exploration Licence. IUP Production License being processed. 20 years and possible two 10-year extensions" Whilst on page 9 of the new presentation it says: "Title is IUP Production - Operation Licence, valid for 20 years and with two 10 - year extensions " Note the missing words, "being processed" and "possible" when referring to the two 10-year extensions. Draw your own conclusions.
I agree, it is probably the most bizarre reason for selling especially when the comments come from someone who is demonstrably clueless. Given the dip today, that might give you a good chance of re-entry but only if you're so inclined. My advice, use the filter button as I and many others have and ignore the rather ignorant and perhaps agenda driven individual - these BB's can be full of them but they're fairly easy to spot and consequently filter.
As I've said before I'm certainly a fan of charting when planning entry points as new funds become available but only if it's done by someone who really does know what they're doing and can use all the tools in their armoury to point out real rather than imagined levels. I'm afraid the more I've seen on the board, the more it becomes apparent that skill is sadly lacking and is in fact a distraction so for that reason I'll also be using the filter button.
I'm currently working in Portugal for about a month but even I'm thinking of popping back to meet all of the team. If you're going to invest a fair wedge of your hard earned I try and take every opportunity to gain insights with the players involved. It's a great way to meet other investors as well. Having said that I have only just met and chatted with Peter Bird at length at Momentous so not sure of the added value. However if you haven't been and met the team I'd urge you to go along if you can, it's very illuminating and you get a much stronger sense of confidence and capability of the team.