Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sharebel, uk can't stop Russian banks in Russia paying staff etc. They don't have that power. BoD just said they sell metals domestically so that money stays in Russia.
I would think that the top Co (UK plc) had a bank account with a non Russian bank like HSBC. So if sale was to the Chinese, funds could be paid into there and then paid out as dividend in the uk.
I think a Japanese or Chinese consortium will buy Kola Mining, and fund the project with NN doing the groundwork for a fee, as well as EUA2.0 management overseeing it for a fee.
NN want Nickel so IMO they will buy Kola Nickel and I think there is an offtake agreement ready to go with a car company. Any spare PGM will just be sold by NN, maybe with some earmarked for the EUA2.0 hydrogen projects.
Only 1 dividend to be paid = 1 liquidity event :)
I think we all now assume the deal will be in 2 parts, 1 on the Nickel, 1 on PGM. Plus Hydrogen in EUA2,0
The company would only split the assets if the deal was done, otherwise why would you do the subsidiary split? It is only being done to fit with this individual deal structure. Now it is actually happening suggests to me that the deal is wrapped up and confirmed.
DLA Piper #1 M&A Global law firm name-checked today
Wardell Armstrong #1 Consultancy firm name-checked in January RNS
These are 2 of the most respected global firms and both are currently involved at the heart of the current sale activities. Gives a lot of comfort that the sale process is being done in a proper manner and by the book.
The MMs have it completely under control, in both directions.
Take a look back at the 1st Sep 2021 RNS - there is nothing of any substance in there - but that somehow propelled the sp to 36.50p. MMs obviously worked this up ahead of the placing.
There's been questions asked why the BOD put these resourse/reserves numbers in public, when they will soon be part of a JORC or sale update.
One theory could be that this RNS is a "last chance" warning to any other prospective buyers to get involved NOW if they want any of these assets.
So many companies in multiple sectors (not just mining) need to secure these metals. Its possible the delays are due to multiple parties wanting to be involved.
My assumption is that traders/iis are confident that they will get a heads up before any major development is due eg sale or official bid in writing. There hasn't been any majors RNSs without some build up of volume in advance. I'm not saying the BOD are complicit in this, but there are a lot of other parties involved, and this is Russia at the end of the day.
It is still less than a year since the Rosgeo JV was signed (March 2021).
If the decision had been put to shareholders at the time to sell what they had in Q1 2021 or wait longer and bring potentially BILLIONS more assets into the company, I think most would have opted to extend the sale timeline and create a much bigger potential mining area to sell.
It seems clear that at least some of the valuable JV assets are included in the sale/deals then 11 months is not a long time we are talking about since that initial agreement was signed, especially with Covid slowing things down.
I do think the Ukraine situation has taken some of the momentum out of the process, but hopefully Macron's meeting will start defusing things. Otherwise, the need for these assets is only getting greater.
JORC and license transfer on Nyud surely has to be the next piece of information to come out.
It will be 3 weeks tomorrow since we heard:
(14th January RNS) "Wardell Armstrong International was engaged by Eurasia to produce JORC Mineral Resource Estimate at Nyud, as well as a CPR and net present value model. The results of this engagement is almost complete and will be announced separately."
WA engaged in August 2021 so it really can't be far off.
I think it was mentioned in one of the RNS that the placing raise was done at the time to strengthen the company's negotiating position. So ahead of when the cash is needed, but helping to increase the sale price.
It wouldn't surprise me to see an RNS this week, maybe with more JORC numbers or a license transfer.
Reason being is that the BOD have been very supportive of the sp in the last few months, releasing RNS when it has started to drop. I think this is to keep the US ii happy and the sp not far off the placement price.
Yes J-m, I think we're on the same page. I said at the time of the RNS, it helps analysts value what is left after the sale with no disputing of what EUA2.0 is going to do with any future stream of royalties.
The dividend RNS in my view must have been to do with EUA2.0 because presumably once the sale is announced they will also announce (at the same time) an EGM with details of how much dividend is to be approved, so there would be no ambiguity.
In doing the dividend RNS when they did it must surely mean that contracts were close to being completed.