The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Not a lot to say at the moment - next week looks promising regarding a catalyst for change at Bhukia (@Small Potatoes, please can you be on standby on Weds for the updated court order/judgement?) and hopefully news on the African prospects is also imminent.
Have a good weekend all.
I understand the frustration and impatience (I've been invested here for 3 years now), but unless there is a material change in circumstance here, there's nothing to report via RNS.
I am expecting further clarity after next week's court hearing, and nothing before.
The next court date is scheduled for 2 weeks tomorrow. From the 'one last' wording on the court order, I expect that this event will be the catalyst for movement at Bhukia one way or another. I would expect that the interim period will be spent by Panthera simultaneously trying to mediate/negotiate a JV and also working with Faskens/LCM to come up with an arbitration figure.
I suspect that the arbitration funding delays were to act as a bargaining chip over the summer for Panthera to try to resolve the deadlock and agree a JV. While that was unsuccessful, maybe Panthera hopes the arbitration figure itself will change a few minds, but I think it's very much last-ditch attempt territory.
As a result, as frustrating as it is, I don't think MB is in a position to update shareholders on any ongoing JV talks/mediation nor update us on arbitration amounts until after the next court hearing. Thankfully it's only 10 trading days away.
It also provides additional, limited opportunity to lobby both GoR and the Indian government before the final judgement. Heading into any arbitration, I think (but am no expert) it would be looked upon favourably if Panthera was going above and beyond to come to an amicable agreement before going down that route.
SmallPotatoes - thank you, this is what I've been trying to access all day. Interesting that you were able to do so by VPN and we cannot access the website by conventional means in the UK.
The one last opportunity to argue the matter means that, the judge is allowing Panthera to present its case for a final time prior to making a judgement. I'm not surprised the respondent for GoR seriously objects to this.
One way or another, this court case is coming to a head. Hopefully Panthera, Faskens and co. will know the size of their claim ahead of the next court date, and the end of September provides the fireworks we have been expecting.
- Those that have tried have found the Rajasthan court website to be unreachable, hence we don't know what any order/judgments/delays arising are.
- It's now past the end of the day out in Rajasthan, so if there was any seismic news coming out of court, Panthera would have had to have released an RNS by now.
- Gut reaction is another court date, but as we haven't been able to access the order/judgement we won't be able to interpret why.
Judgments from previous court dates have been published at around 12.30-13.30 UK time.
*If* there's an outcome which is in Panthera's favour, I would expect an RNS to follow pretty much immediately following on from a published judgment.