RE: Will this still apply ?13 Oct 2019 17:44
Wolf, discussing the issue of shares in circulation and jv deals, as with Brexit you need to be in a position of strength to get the best deal available. The EU only became more open to deals as the cut off looms and the governments stated position was deal or no deal we leave the end of the month. With PREM, GR has to cope with JV partners knowing the financial situation PREM is in as well as the share cap limit. There is also the historic attempts/failure to get a deal done. The BOD would need to resolve this prior to finding a partner to show the have alternative paths to project delivery and get the best deal.
More interestingly is the relationship with MNH and Neil Herbert
"Prior to this, he was a director of resource investment company Galahad Gold plc from which he became Finance Director of its most successful investment, start-up uranium company UraMin Inc. from 2005 to 2007, during which period he worked to float the company on AIM and the Toronto Stock Exchange in 2006, raise c.US$400 million in equity financing and negotiate the sale of the group for US$2.5 billion. Mr Herbert has also held board positions at a number of resource companies where he has been involved in managing numerous acquisitions, disposals, stock market listings and fundraisings."
So was the MNH loan a sweeter to get him on board as the terms of the loan weren't much to write home about. Was it a friends deal to help an ex colleague or has he come on board to assist in the JV of ZULU? The Uramin deal was good for the vendor but proved to be a disaster for the frenchies...