Member Info for bobo

Sorry, ignore that link the article is missing. Enough to say Korsant is a big player

http://online.barrons.com/article/SB124631181967970361.html

nice to know Korsant has a cfd open, assuming its not a short position. This is the guy that made a mint on the palm pre mobile phones. He dosent get much wrong. Thats what kicked off the buying just after 11 this morning RNS at 11.02

10.25 being paid now, has there been a leak????

were back at 10p. Things looking really good here

As youve noticed bars, candlesticks, trends dont mean anything here, its all news driven. We are expecting an anouncement of financing within a month, all i can see is this creeping up for the next few weeks.

nice finish to the week. onwards and upwards

I get what you say about the offtake agreement being the sweetener in the equity investment. I think you also mixed up $s & £s, the market cap in is $80-90m. I dont know wher the merger sits in all of this. The investment has always been in specifically caldag, not ENK. As an equity investment ENK would have issued shares to JXTC to the tune of $20m. Also the NPV of caldag has just changed due to the tax incentives from $207-285m this should affect the amount of shares we are offering. Mix this up with the merger, and the shares we are issuing to Rusina holders and i start to get dizzy Is it just me overcomplicating this

That counts me out, I dont think ive ever been called sophisticated

Its your decision but i think you should have held for at least another week, this SPs only going one way short term. There is the potential for the financing to come through before the end of march, even if you dont believe it will happen the sp should rise for the next week. If you recall last time the chinese finance was expected to come through we hit 12p. The company themselfs expect the sp to rise above the value cap on the rusina take over which should go through in may Good luck anyway

Bit odd today wasn't it. You usually see a few small trades but there must have been over 20 today all at odd times

1m buys again today

Some bigger buys going through today. weve seen this before in the run up to news

I calculated a while back we were burning up to 1m a month. So yes delay costs money, and frustrates us PIs. Thats why i think we are long overdue an update I dont think BHP would have brought $350m to the table to finance the project ( i may be corrected here). I tihnk the debt finance was conditional on the JXTC agreement.

Commenting on the merger, Simon Purkiss, Managing Director of European Nickel, said: “Merging with Rusina is a natural step as we seek to grow into a mid-tier nickel producer. Acoje will be our next development project after Çaldağ and simplifying the corporate structure, along with bolstering our management team ahead of critical development and financing decisions is logical

So what they doing at Caldag, sweeping up? I am aware of the financing costs. I will rephrase, we need an operational update, and an explanation of what the financial shenanigans have done to the project timescales Prospector, the merger RNS clearly states Caldag comes first then Acoje Quote: 'European Nickel currently has a 20% interest in the Acoje project, with a right to earn up to 40%, while Rusina currently has a 72% interest in the project. A Definitive Feasibility Study is due to be completed in 2011. Acoje is European Nickel’s next planned heap leach project for commercialisation, after the Çaldağ project in Turkey.'

I think its time we had an operational update. Ive had a quick scan through the RNS and cant see anything giving a progress report on Caldaig. We were supposed to be targetting production this year, has all this financial messing about delayed this?

try registering for shareprice.co.uk You can get live streaming of prices to your pc (not 10-15mins behind like most free services) Its easy to set up your portfolio If you have an iphone theres a great app from shareprice thats free. Live prices to your phone that syncs with your account on shareprice

a bit more volume today and late yesterday sp creeping up a bit too

Rusina shareholderes will recieve 4 ENK shares for every 5 Rusina shares held, when the merger goes through. This values Rusina at £18.1m based on an ENK share price of 7.45p. there is a statement in the merger RNS saying that ENK expect the shareprice to increase in the run up to the merger. The amount of shares on offer to Rusina holders is fixed at 4 for 5, so if the value of ENK shares increase the value of the offer increase. The ultimate value is capped at 27m or 11.175p per share. If ther ENK share price exceeds this then the shares on offer to Rusina holders will change e.g 3 for 5. Does this explain it ? out of interest this is a paragraph from the merger RNS that shows ENK are expecting positive news flow 'The Value Cap mechanism has been included on the basis that the European Nickel share price could appreciate strongly, prior to completion of the merger, as a result of a number of initiatives that are currently underway'