Member Info for extrader

Thanks to LaValmy for this :

hTTps://globalnation.inquirer.net/226476/ph-looks-to-3-key-allies-for-external-defense

Two trillion PHP is about £28 billion.

.."UK ventures

Earlier last week, Teodoro [Defence Minister] met with Richard Graham, the UK Prime Minister’s trade envoy, and their discussions included “the South China Sea, and potential avenues for collaboration in defense and investment,” under a memorandum of understanding on defense cooperation signed in January by Manila and London.

Teodoro and Graham “expressed interest in exploring joint ventures with British investors and other forms of cooperation to support” the revised AFP modernization program..." etc.

Let's hope, meanwhile, that the UKEF paperwork for Indonesia is indeed all very close to being completed – hopefully this month or just the other side.

GLA and ATB

Per Seb, the litigation just started in London Commercial court isn't BUR-financed

.."Petersen/Eton are financing the motion to recognize Judge Preska’s NY YPF judgment in London’s Commercial Court. Pertersen is using its own funds while Eton has pledge future earnings from the award. Burford is not financing this action. A recognition of the judgment occurs when the recipient of the award is seeking to enforce a judgment in a different jurisdiction from the original ruling..."

Although BUR 'not involved', I hope that this has their tacit approval, and isn't a case of the clients 'going rogue'....and possibly 'muddying the waters' (groan) in NY.

GLA

InvestingGenius (sic) has excelled himself.

On his curated thread, he's excited about a DailyMail article extolling the benefits of cannabis for treating sports-related head injuries, specifically an endorsement by an Australian rugby club of Alternaleaf.

.."Medicinal marijuana primarily focuses on the use of products containing CANNABIDIOL ('CBD'), which are not smoked, do NOT deliver a high and provide a range of health benefits for athletes including potential treatment for the SYMPTOMS OF CONCUSSION..."

All good stuff, to be sure.

The 'Our First Harvest' board intro tells us that :

.."HELD will be SPECIFICALLY GROWING HIGH THC VARIETIES, in large quantities, which is not legally allowed in most jurisdictions.

Hence why it seems they will be supplying the NHS here

‘to be the supplier of choice to the NHS of high-quality, competitively priced and fully regulated THC-DOMINANT medical cannabis.’....

I think the polite description is 'cognitive dissonance'.

hxxps://www.verywellhealth.com/cbd-vs-thc-

.."Cannabidiol (CBD) is a cannabinoid compound found in the cannabis plant. It does not produce a high because it does NOT have THC in it. It can produce relaxation or sleepiness. It has antioxidant (neutralizes destructive oxygen free radicals in cells) and ANTI-INFLAMMATORY properties."

HTH and ATB

My understanding from the article re Germany that I recently posted was that the electrolysis process for green hydrogen was a continuous one (ie constant electricity supply) and the issue in Germany was that wind/solar intermittency left the grid as backstop.

See 'The elephant in the room' thread begun 25 Feb 19:27

In Germany's case, its planned green hydrogen production implied a backstop requirement of up to 7 % of Germany's electricity production...which would mean running (or actually firing up) its (dirty) coal powered plants to provide baseload for its (green) hydrogen....and has already lead to quiet abandonment of the commitment to shut down coal by 2030, now kicked to 2038...

Presumably the same intermittency/dependency issues would apply to the UK ?

AIUI

See Poolefax's link.

The backstory was reported a few days ago :

.."Of only tangential interest here, BUR's largest (10.5%) shareholder, Saudi's entrepreneurial Mithaq Capital has just swooped on a distressed US retail company :

hxxps://www.msn.com/en-us/money/companies/children-s-place-s-stock-pops-21-after-investor-group-takes-majority-stake/ar-BB1ijZ9S

Market comment highlights aggressive, contrarian and opportunistic approach to business..."

HTH

Hi catbert,

No worries, indeed!

My point, obv not expressed well enough, was that it was 'home-grown' Europe green steel that was snookered because of its (necessary) reliance on the grid ...except for hydroelectric.

The unquoted bits of the article make clear that the M East doesn't have the same problem , (a) because solar is less intermittent and (b) because it call always fall back on natgas.

The 'look at other feedstock' to redress the balance was a plug for 'green ore'....and hence ZIOC.

HTH and ATB

See today's RNS. Now 18.5m shares (8.5 %)

Mithaq prev had 10.5% (23m shares), so have sold down. I wonder who took them up?

Mithaq is the family investment co of the principal shareholders of AlRajhi Bank, the largest Islamic bank in the world by capital and one of the largest joint stock co's in Saudi Arabia.

GLA

Quite, marcusg71,

Esp. given that there appear to be 'issues' with another leg of the 'green steel' production process - hydrogen - that this WoodMac article exposes :

https://www.woodmac.com/news/the-edge/carbon-rules-can-muddy-the-waters/?utm_campaign=the-edge

Basically, it seems that almost any hydrogen produced by electrolysis other than from hydroelectric source (think : Norway, Quebec) comes with 'baggage' that diminishes - or even negates - its overall 'green' credentials.....

.."genuinely green hydrogen has a very low carbon intensity, typically between zero and 0.5 kgCO2eq/kgH2. That’s 20 times lower than blue, 50 times lower than grey and 100 times lower than brown. But that’s only if green hydrogen is produced using renewable power – and solar and wind’s variability sharply reduces electrolyser utilisation, driving costs up.

The 24/7 solution is to plug the electrolyser into the local grid during renewables downtime to maximise electrolyser utilisation. Therein lies the problem. Most grids are a long way from zero emissions so using grid-power will increase the carbon intensity of the produced green hydrogen. On our calculations, electrolytic hydrogen produced from 100% grid power can have even higher carbon intensity than brown hydrogen...." etc

Oops!

Better look at the other feedstock elements, guys!

AFAICS

There appear to be 'issues' with one leg of the 'green steel' production process - hydrogen - that this WoodMac article exposes :

https://www.woodmac.com/news/the-edge/carbon-rules-can-muddy-the-waters/?utm_campaign=the-edge

Basically, it seems that almost any hydrogen produced by electrolysis other than from hydroelectric source (think : Norway, Quebec) comes with 'baggage' that diminishes - or even negates - its overall 'green' credentials.....

.."genuinely green hydrogen has a very low carbon intensity, typically between zero and 0.5 kgCO2eq/kgH2. That’s 20 times lower than blue, 50 times lower than grey and 100 times lower than brown. But that’s only if green hydrogen is produced using renewable power – and solar and wind’s variability sharply reduces electrolyser utilisation, driving costs up.

The 24/7 solution is to plug the electrolyser into the local grid during renewables downtime to maximise electrolyser utilisation. Therein lies the problem. Most grids are a long way from zero emissions so using grid-power will increase the carbon intensity of the produced green hydrogen. On our calculations, electrolytic hydrogen produced from 100% grid power can have even higher carbon intensity than brown hydrogen...." etc

Oops!

Better look at the other feedstock elements, guys!

AFAICS

GLA

Hi Brigra, thanks for this!

This is the Quillan partner (founder) involved hxxps://www.lexology.com/firms/1325267/Mark_Hastings

.."For over five years, Mark acted for notable oligarch Boris Berezovsky, now deceased, in several signature cases. In Gorbunova v Berezovsky (2013), Mark succeeded in setting aside a £300 million worldwide freezing order obtained by his client’s former long-term partner, who made several claims against him. In Berezovsky v Hine & Ors (2011), Mark acted in a number of separate multi-billion-dollar actions arising from an alleged joint venture between CIS oligarchs, in a case involving freezing orders, search and seizure orders, jurisdiction disputes, complex issues of Russian law and Russian asset valuation. In Berezovsky v Abramovich (2012), Mark acted in $6 billion Commercial Court proceedings concerning Russian oil and aluminium assets, with the three month trial described by the international media as the most significant private court case ever..."

'Don't mention the Malvinas, ...'

Ho hum

Could someone with a legal background comment on whether this might have any impact on the progress of BUR's New York litigation, pls?

FT today : New York moves to rewrite law on sovereign debt default recovery

.."New York lawmakers have moved to limit how much creditors can recover from defaulted sovereign debt in the state's jurisdiction, ..."

rest behind paywall.

The issues are set out here hxxps://www.cliffordchance.com/content/dam/cliffordchance/briefings/2023/05/sovereign_debt_restructuring_three_new_york_assembly_active_bills.pdf

but I'm having a Paddington moment :'I am a bear of very little brain and long words bother me'.

;-

.."But any bad news would have been RNSd so we can't just assume its all bad."

The news that has been RNS'd to date IS bad, IMO, you just haven't acknowledged (or, maybe worse, recognised) it.

AFAICS

Ashmore latest re Argentina : still a 'going concern'...

.."Argentina: Speaking at the opening of the legislative year in Congress, President Javier Milei called on governors and political leaders for a “great national agreement”. The foundations of the request are the approval of liberal economic policies and political reforms to reduce the influence of interest groups (such as unions) that have historically opposed those changes. In more substantive terms, the Executive is seeking a preliminary agreement to allow for a new set of legislations increasing its powers, deregulating the economy, increasing incentives for large investments and a new pension indexation regime. Governors have an incentive to embrace the broad pledge to avoid further deterioration of their fiscal position in the near term, since a large part of federal transfers to regions is discretionary, but are still likely to play hardball on the negotiations of the actual bills in Congress...."

ATB

..""Only so much you can say that the nomad will allow..."

What?? Again...

HELD doesn't have a nomad, which - as the poster acknowledges - has an oversight function.

Oops!

And it's not obvious that the CLN has been closed...

The payment in shares just made (equiv to £21,322) appears to be the 6% drawdown fee on the First Instalment of $ 450,000 advanced last October :

- $450,000/1.25 x 6% = £ 21,600

So HELD appears to have taken 4 1/2 months to settle the drawdown fee....

The s/p was 7p equivalent then, so the tardiness in settlement means that HELD has had to issue over twice as many shares in lieu...

I wonder whether this is a precursor to Drawdown of the second tranche $300,000 mentioned in the October RNS.

GLA

.."Only so much you can say that the nomad will allow..."

What??

Why would the nomad NOT allow a Company to state that a CLN aka a death spiral facility had been closed

Some unpublicised fruit from COP 28 :

https://www.prnewswire.com/news-releases/masdar-advances-10gw-africa-growth-plan-to-unlock-energy-transition-in-six-sub-saharan-nations-302009079.html

At COP28, Masdar announced partnership agreements with both governments and private entities in six African countries:

Angola – 150MWac solar PV project in Quipungo under Phase I of the 2GW renewable energy G2G collaboration between the two countries.

Uganda – a Roadmap Agreement for the implementation of a 150MW Solar PV project under Phase I of a 1GW collaboration .

The Republic of Congo – MW Energy, a Masdar subsidiary, Africa50 and the Ministry of Energy & Hydraulics of the Republic of Congo signed a MoU to develop 500MW of renewable energy capacity in the country.

Kenya – Geothermal Development Company of Kenya and Pertamina Geothermal Energy (PGE) of Indonesia, are to collaborate on geothermal energy development in Kenya - Masdar is proud to support this through its investment in PGE.

Mozambique – Infinity Power, the largest pure-play renewable energy company in Africa, signing of a MoU to explore opportunities for up to 1GW of renewable projects in Mozambique.

Zambia – Masdar, ZESCO and International Resource Holdings, an affiliate of International Holding Company, to look to supply green electricity from renewable energy projects to power IRH mines.

Masdar, one of the world's fastest growing clean energy companies and the largest in Africa, has committed to deploying US$2 billion of equity by 2030 in Africa as part of the UAE-led Africa Green Investment finance Initiative, which was announced during the Africa Climate Summit by HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President.

Masdar's commitment aims to mobilize a total of US$10 billion in investments to deliver 10GW of clean energy capacity in Africa by 2030.

Helping another impoverished country finance its infrastructure, Masdar has also recently added Dogger Bank to its UK windfarm portfolio

https://www.gulftoday.ae/business/2024/03/01/masdar-finalises-joint-investment-in-3gw-uk-offshore-wind-project

GLA

Https://ar.usembassy.gov/remarks-by-secretary-of-the-treasury-janet-l-yellen/

REMARKS BY SECRETARY OF THE TREASURY JANET L. YELLEN AHEAD OF BILATERAL MEETING WITH MINISTER OF ECONOMY LUIS CAPUTO OF ARGENTINA

As Prepared for Delivery

"It is my pleasure to have my first meeting with Minister Caputo.

The Milei administration has inherited a steep stabilization task but has already taken some important steps toward restoring fiscal sustainability, adjusting the exchange rate, and combating inflation.

I commend Minister Caputo for his leadership throughout this period.

There is no doubt that this has been, and will continue to be, a difficult economic transition period for the Argentine people.

Protecting the most vulnerable during this transition will be a challenge, but is vitally important.

I see many areas for collaboration between the United States and Argentina on the topics being discussed in this year’s G20 Finance track, and I look forward to discussing these today with Minister Caputo.

I anticipate an active and constructive relationship between the U.S. Treasury Department and the Ministry of Economy."

GLA

Thanks for this!

Vulkan Green Steel Oman (Jindal Group) is the only ME plant thus far identified as a DRI greenfield project (tb commissioned 2026).

I think DRI grade ore was mentioned 3 or 4 times. The penny seems to be dropping.

Let's see what Wood Mackenzie has to say next week!

ATB

Hxxps://greekreporter.com/2023/01/27/first-medicinal-cannabis-production-plant-opens-greece/

hxxps://tikuneurope.com/en/facilityunits/

Tikun Olam Europe

Our Company

Tikun Olam’s presence in Europe began in Greece, taking advantage of the country’s potential to develop into an international center for the production of medicinal cannabis preparations, with most of it destined for exports to European countries

The 1st Medical Cannabis Company in Greece & the largest in Europe

Total investment of €40m+

56.000m2 in Corinth

Our goal is to provide high quality medical cannabis products to Greek and European patients

EU-GMP certification by National Organization of Medicines, applying strict control standards and procedures that ensure high quality and safety

15+ years of R&D and Real World Data (RWD)

Maybe someone should ask Dev to comment.

GLA