Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"This is Money" report (2008) said av house prices fell from £62 k to just over £50 k from 1989-93.
I make that a 20% fall.
For those able to buy up distressed sellers properties at auction during this period then it is entirely possible that the mindset would be set at around 50% rather than the verified data of 20%
Click on Fundamentals -it gives you the total number of shares Divide £150 m into the no of shares.
Don't forget that the media seems to be fixated on just using a 25 year repayment example for their calculations around monthly payments consequent upon theoretical (as yet) mg rate increases.
Have they not discovered that there is an option to extend the 25 to 30 years (very useful for first time buyers who tend to be younger than those trading up) which will reduce the pain albeit increasing the amount paid;although there will be the option to overpay once things get back to normal (whatever that is).
We are nowhere near the 15% mg rates that people will have had to contend with when monetarism was the prevailing economic philosophy.
Also I gather that 75 % of existing mortgages are fixed (yes I know it will be a bit of a shock when these expire) and I also acknowledge that house prices relative to incomes are much higher now when I were a lad!
Volume house builders are in a much better state now than 2008.
Times are challenging but I doubt anyone could claim that we are even close to the period of the 3 day working week/the dead remaining un-buried and the country running out of candles.
No response in the sp as yet to the SD cut.
Thought there might have been a gentle rise at least!
Just woffle JNWI.
JNWI
Still waiting for details from you of MKS debt position.
JNWI
So what is the debt position now compared to a year ago-you obviously know a lot about MKS?
When are the various coupons having to be redeemed etc?
Agree-plus the other point that I haven't seen mentioned is this; if the gov had hammered them with an even bigger WFT do you think that the front line energy producers would be coming up with ideas (as they have been) to help reduce the impacts of high energy prices on the British people.
Off topic I know!
ok -no harm done. We will never know what he's authorised over the past few trading days as it presumably now doesn't have to be RNS'd.
ATB
Do the maths-that's what I said !
I thought the Dec 2021 RNS said he had just over 17 m shares-so still has 5 m or so left?
Guess that much of it is down to footfall in high streets etc with bods mainly working from home. Plus raw material input costs (flour/wheat and other bread based products which they major on). Thanks Putin!
Lower footfall figures in cities and large towns also corroborated by data showing much reduced rail commute travel etc.
On the other hand with price worries thought GRG had a reasonable chance of doing OK as people traded down to save a few bob on a grabbed lunch.
Trouble is that bad news sells papers,good news doesn't.
Media seems determined to portray rational responses to import induced inflation (i.e generally not of our own making) as a collapse in the whole system.
This isn't the 1920s!
Pareto effect.
80/20 rule
I would have thought that the Gov lawyers would have been all over this like a rash long before the decision was made. All parties were given plenty of time to make their respective submissions and indeed the Sami if I recall correctly were given an extended period to have their say.
I make no claims to being a lawyer but in my humble opinion any chance that the Sami have of overturning the Gov decision would have to be on the basis of a proven flawed consultation process and subsequent proof that would stand up in a court of law that the Gov failed to take into account /ignored or somehow disrespected the Sami concerns that were expressed as part of the formal and legally constructed consultation process..
Just wondering about all the macro economic and geo-political gloom whether the doom mongers have forgotten that with the (far from recent) demise of Debs that one of MKS "competitors" has left a rather big retail space to exploit that isn't going to be filled by other players who are at the budget end of the market or the top end.
D789
Good point but it depends on what (if any) arbitration backstops the SW gov put in place to prevent the Sami taking the proverbial as they will undoubtedly try to do in the early stages when they begin to comprehend the amount of money flowing from this operation.
I argued earlier in a post many moons ago that the easiest "solution" would be for BEM to pay a levy based on ore tonnage extracted which would be paid directly to a third party agency that would disburse funds directly to the Sami in terms of compensation and would also provide a sinking fund to pay for land restoration/reclamation once mining had finished and future generations of Sami could continue with their cultural activities.
Having read through the 12 conditions I don't think these are particularly onerous or even "unique!"
However at the end of the day it will come down to a judgement around what are "reasonable" costs that the Sami might "reasonably" claim following mining or other BEM activity causing financial loss etc to their reindeer activities.
The key word is "reasonable" which is why meaningful and timely dialogue especially with the reindeer herding community is going to be vital.
I'm not a lawyer but I would suggest that the only admissable grounds for an appeal would be that based on due process not on the decision itself.
The "fact" that Kurt appears not to have had any direct face to face cosy meetings with the Gov minister-as many have inferred/indicated on these pages-is a point in our favour should the antagonists be seeking to blow holes in the d/m process.
I would have thought furthermore that evidence pointing back at least 7-8 years confirming how long the application/decision has been mulled back and forth is also a strong point for BEM.