Member Info for Curvedwing

Just reading an article out today about our liquidator Pekka Jaatinen, he says he believes he can approach the District Court of Espoo with a corporate reorganization proposal this year. New capital needed will be gained via borrowing or share issue!

At last, Pekka has elaborated on the new business opportunities currently being explored, not just within the mining industry but also recycling and energy saving sectors.

Yes mate, Let�s hope we're are right. Just to confirm it's not game over yet here's an exert from Solidium's half-year report published today (for those not aware, Solidium is owned by the State of Finland and a shareholder of Talvivaara): 'At the end of June 2016, Talvivaara Mining Company Plc and state-owned Terrafame Oy reached an agreement on an arrangement in which Talvivaara will offset the "Nyrstar receivable" and receive EUR 1.4 million in cash as a consideration for asset items related to the operations of the Sotkamo mine. This arrangement will help the Talvivaara reorganization to proceed and to assist Terrafame as it examines the future of the Sotkamo mine. The arrangement provides Talvivaara with funds to proceed in the reorganization process, examine its options and complete the reorganization process'

No, not game over. This is all part of the planned corporate restructuring proceedings. My TALV shares are still in my account, suspended but they still exist. I have had and other shares suspended but didn't mean it was game over for them either. This being said, it is still going to take a minor miracle for us to walk away with any of our investment but not impossible. I accept I'm only an amateur and my research consist only of reading RNS's and press articles so can anyone who says it is game over tell me why Pekka continues with this restructuring, what does he have to gain by flogging a dead donkey all this time? Cheers

I see things differently, I agree that we do not have any 'nuts & bolts' assets left but we do have the management team and the experience that comes with them, important as they search for new opportunities. They are also negotiating with the last of the creditors to convert debt into share, to do this they will need to have potential opportunities in place before meeting the creditors, maybe this is happening as we speak. Pekka Perä would not have come this far just to give up now, he could have walked away ages ago for the same result. I agree the end could be close but I'm sure Pekka with continue fighting hard to avoid it. Let hope news comes soon either way, hopefully something positive.

http://yle.fi/uutiset/pekka_peran_talvivaarasta_tuli_jalleen_startup-yritys__yhtiolla_on_kaksi_vuotta_aikaa_loytaa_rahaa_velkojen_maksuun/9088239

Yeah, in Pekka we trust. What do you think is next in the restructuring proceedings? Announcement regarding new business opportunities or maybe the plan to deal with the identified restructuring debts?

Resolution proposed by the Board of Directors set out in the notice of the meeting dated 8 July 2016 concerning the sale by Talvivaara of its assets related to the Sotkamo mining operations to Terrafame Ltd ("Terrafame") was duly passed. I like this bit: The arrangement will materially improve the possibility for the completion of Talvivaara's corporate restructuring proceedings and facilitate the development of Talvivaara's new business opportunities Don't like this: The agreement has no effect on the identified restructuring debts of the Company, including the receivables of certain commercial banks and Finnvera Plc Despite the transaction published today, there can to date be no guarantee that Talvivaara will eventually be able to successfully complete the corporate restructuring proceedings But Pekka has got us this far, hopefully he can get us to the 'finnish' line! (forgive the pun but It's the best news we've had for a while so I'm in a good mood).

Yes mate, I'm sure it's a good thing for us, this is what I find most interesting from the article: 'Terra Fame says that the result was strengthened due to improved revenues from the sale of zinc and an efficient use of chemicals for metal extraction. The company's revenue from zinc sales were EUR 3.8 million more than estimated' So have they have dropped the lengthy process of Bioleaching in favour of quicker chemical extraction? Terrafame have also appealed the pipeline permit decision to the Supreme Administrative Court, they could be successful. They have until the end of the year to find a buyer before the government money runs out, if they can prove the mine can be a going concern, then a buyer is more likely. So I'm thinking this could be good for us as Pekka said if Talvivaara avoids bankruptcy, one option for the company would be to invest back into the mine. If we lose the debt and raise sufficient funds to invest would the market respond positively when/if the suspension is lifted and we can begin shares trading our shares again? Anyway, lots of ‘If’s & maybe’s’ I may have my facts wrong but just my thoughts on the subject.

http://online.vasabladet.fi/Artikel/Visa/110056 Terrafame making the mine work?

Lets hope so mate

Finnish article, I think it's saying the latest move by Terrafame to get our assists 'on the cheap’ is short sighted and that sticking to the original deal is in the best interest of Finland: http://www.pohjalainen.fi/mielipide/yleis%C3%B6lt%C3%A4/talvivaara-suomen-parhaita-kaivoksia-1.2066863

Yes, I can't see what can be done to save the company now but you never know, they could pull a rabbit from a hat.

Thanks mate. I'm hoping Terrafame haven't decided they can get hold of our equipment etc cheaper by forcing our full bankruptcy rather than helping us get back on our feet with the proposed deal. Otherwise its only positive news for Terrafame. Lets keep hoping for the best.

So Terrafame no longer want to pay for our service and lease agreements currently in place. I guess the recent government decision has forced their hand. Friend becomes foe.

So we are invested the holding company 'Talvivaara Mining Company Plc' and the bankrupt bankruptcy estate is 'Talvivaara Sotkamo Ltd'. Does this mean we wash our hands of the mine and its debts and move on to new projects?

From what I can translate it looks like the government have decided to close the mine but as it will take time to wind it down then could be saved if private investors can be found by end of 2016.

We just have to hope it's not just a case of grasping at straws. Finnish press currently suggesting the government will announce the future of the mine midday today!

Matter No 15 is interesting: http://www.talvivaara.com/media-en/Talvivaara_announcements/stock_exchange_releases/stock_exchange_release/t=talvivaara-mining-company-plc/id=205426640

Absolutely mate, in Pekka we trust