Member Info for extrader

OK , guys,

You've had the weekend to digest...and a few more straws in the wind.

So

The line-up so far :

141p Driving Christian Aid/Congo 5%

185p ShrewdDude 67 Macmillan 2%

200p extrader Alzheimer Research 2%

285p HappySwinner Alzheimer Research

325p 4Kandles

Thanks for the input...and for a choice of good causes.

Everyone's welcome to join in : just cut and paste, then insert your price in the list where appropriate, adding charity and %age.

ATB abd GLA

OCN only says that there have been no 'formal' talks.

IF anything emerges, we'll be told then what the deal is.

In MSC's Log-In acquisition Dec 2021, this is what happened

ttps://www.seatrade-maritime.com/containers/log-logistica-accept-msc-takeover-offer

.."MSC asked Brazil's competition regulator, the Administrative Council for Economic Defense (CADE), for permission to purchase up to 67 % of Log-In's shares.

The acquisition would happen through a public offer process, and MSC said at the time that it would tender an initial offering price of $4.73 per share - a 67% premium over Log-In's share price.

The world's top container lines are on a buyng spree driven by unprecedented profits over the last 18 months. Earlier this week MSC made a $6.4bn offer for Bollore Africa Logistics..."

As I said yesterday, the Aponte family (behind MSC) reportedly made $ 28 Bn during the pandemic disruption, so I'd guess $$$ cash would be more likely....

NAI, DYOR etc etc

Weekend FT

Yellen defends dollar as reserve currency at Paris meet :

" There's a very good reason why the dollar is used so widely in trade and that's because we have deep, liquid, open capital markets, RULE OF LAW, and long and deep financial instruments "

OK, some redundancy there, maybe, but defending the 'rule of law' principle is core to investment: ask any autocrat who's bought a bolt-hole in London why.

No alternative has any trackrecord or credibility [yet] on that front.

Kick and scream Argentina may, but pragmatism will prevail.

AFAICS.

Chapeau, MM - good spot!

ATB

Hi Havoc

(a) At one AGM AZ said admin errors at his various nominee co's meant his authorities weren't in place, or some such;

(b) At another, the BoD told shareholders how they intended to vote on certain resolutions...and then failed to do so.

I'm just the 10th man

https://insightbeforeaction.com/the-tenth-man-rule-principle-explained/

[l the reference was in a recently 'disappeared' post. Just ask yourself why that might be. Hint : it was about 'groupthink']

ATB

.." she {Judge Preska] is 100% behind Burford .."

Puhlease!

She's 100% behind the law....anybody would think you want to give Argentina grounds for appeal ...

;->

.."AZ clearly confident everything above board.

Sometimes you need to look from both angles."

So confident that he didn't even bother to vote his/TAG's 22.8%/ 13.7 billion shares ?

And Comoli/Venus so uninterested that it didn't bother to vote his/its 15%/ 9.15 billion shares (where it could)?

All resolutions passed, per RNS, on the basis of 2.6 billion (4.3%) votes....

That's barely half the shares that went walkabout with the 3 x pledged share loanco's.

Maybe there's a third angle - or even a fourth?

;->

A little bit more background re Wilson Sons activities and footprint

hxxps://essfeed.com/msc-eyes-wilson-sons-1bn-acquisition/

Note :..."Surprisingly, data from Alphaliner reveals that MSC now boasts more shipping capacity heading to South America than on the transpacific route to North America..."

suggesting lots of scope for synergies

and at the bottom, a link claiming that the Aponte family made USD 28 Bn during the pandemic...

'Loose change'!

Hi alwayshoping,

Thanks for this !

.."He recalled that diplomatic relations between the two countries were established in 1980. Since then, the reciprocal visits made at the top of the State have enabled President Denis Sassou N'Guesso to visit Brazil twice, and his Brazilian counterpart at the time to pay a working visit to the Congo in 2007..."

Turns out that his counterpart at the time was .....Lula.

;->

Hi again, Matt,

And another thing.....

Back in Feb, you wrote this (in the context of Fortescue)

.."An old presentation and the COIDIC bit is no longer relevant but…

https://www.brrmedia.co.uk/broadcasts/5df74f3c1727256b168b6a55/zanaga-iron-ore-an-introduction/

‘We also had some approaches…from some of the entities involved with that bid (Simandou)…"

Could AT have been talking (Dec 2019) about Vale, not Fortescue ? At the time Vale was embroiled with Steinmetz over the expropriation of its stake in Simandou). I'm not clear if the timeline fits.....

Anyway, it's pretty clear that Vale has had ZIOC on its radar for some time......as you'd expect!

ATB

Thanks Mattradio,

I wondered whether we'd hear from you over the latest developments! And you've come back with another nugget :

The mention of Dines was a qualification by Compliance re possible conflict of interest:

.."Among them, the councillor pointed out that the list "does not bring seven materially independent candidates" and stressed that "it does not seem to me convenient to resort to the pitch of asking the assembly to postpone the inauguration of a councillor so that he can become independent".

The case occurred with the appointment of Clinton James Dines, whose inauguration should take place only on August 1, in line with the recommendation of the company's Compliance area, when he will no longer hold the position of director at Zanaga Iron Ore Company - an association of a Vale competitor for a project in the design phase, as stated in the minutes published by the company."

It's not clear from the wording whether the flagged conflict of interest was his connection to ZIOC itself or GLEN.

At any rate, he was put forward by Vale with a 'subject to' date of 1 Aug 2021 per this link

https://www.readkong.com/page/notice-to-shareholders-vale-com-6373757 (page 5)

This may be linked to the timing of his possible stepping down from ZIOC BoD, where his term of office was coming to an end in 2021

In the event, he appears to have decided to stay with ZIOC (where he is today), having sought re-election per

https://www.zanagairon.com/wp-content/uploads/2020/10/Zanaga-Notice-of-AGM-2020.pdf

"Re-election of Directors

5 To re-elect Clinton Dines who retires by rotation as a Director of the Company"

Maybe there was an earlier approach re ZIOC (and he expected to be available) ? or there was something else going on between Vale and GLEN (that he expected to be resolved....and therefore available) ?

Either way, he doesn't appear to have made it onto the Vale BoD.

But most of the other nominees don't appear to have, either, AFAICS, so maybe there's been some major BoD reshuffling at Vale ?

Too many rabbit holes....

More to the point : on your few recent postings you've pointed to a number of areas where things might still go P'tong (Project risks 16 April), do you still feel this way?

And - even more to the point ! - you suggested a takeout price between 6p and 300p.....(26 Feb, the man from Barcelona).......how would you price it now????? ;->

ATB

Comment from stentorian

.."The Hamlet reference:

"Hoist with his own petard"

I think even more importantly Judge Preska is following Burford's lawyers legal representations...which bodes well for $8bn rather than $4bn..."

Never a good idea to upset the judge !

Thanks again for your 'informed' comments - Fascinating anecdote about having to outsource your banknote printing to several countries, because of the volume ;-<

This man - Milei - appears to be the front-runner, said to be in the Bolsonaro/Trump mould, but might (whatever your politics) be more of a Thatcher, who reversed another 'seemingly inevitable decline'.

I'm not sure that his intentions are 'good', but they certainly represent a shake-up.....and would fit in well with the autocratic government styles of the BRICS alliance that Argentina hopes to join in August (along with socially conservative, 'benevolent' dictatorships like Saudi Arabia and the UAE.

https://english.elpais.com/international/2023-05-18/free-use-of-weapons-privatization-and-the-end-of-legal-abortion-javier-mileis-plans-for-argentina.html

All good stuff!

Let's see if (post Paris meet-up), Lula will include Nguesso in his plans :

.."According to a Brazilian diplomat, the African countries to be visited by Lula include Angola, Mozambique, Senegal, Ghana, Ethiopia, Nigeria and Sao-Tome and Principe. Brazil also plans to reopen its embassy in Sierra Leone and create additional representation in Rwanda. .."

And we can't use a new embassy as a clue (like Saudi) : Brazil already has a presence in C-B....

Maybe , before August and the BRICS summit, he'll have some other reason to change his plans!

The line-up so far :

141p Driving Christian Aid/Congo 5%

185p ShrewdDude 67 Macmillan 2%

200p extrader Alzheimer Research 2%

285p HappySwinner Alzheimer Research

325p 4Kandles

Thanks for the input...and for a choice of good causes.

Everyone's welcome to join in : just cut and paste, then insert your price in the list where appropriate, adding charity and %age.

ATB

Good find!

.....and this article https://www.fastmarkets.com/insights/inside-vales-green-briquette-megahubs-and-how-they-will-work explains where hydrogen fits into the process, namechecking the 3 x Gulf plants and Saudi's in particular.

The article sets out ...."how they will work, especially with MINERS looking to take a share of the decarbonization “pie” by ramping up their offerings of direct-charge materials in their attempts to eliminate sintering.."

At the time of writing (Nov 2022), .."Vale expects iron ore fines from all ITS systems in Brazil to contribute to the blend that will compose the feed for the concentrators..."

Saudi and/or the other Gulf plants may wish to limit their dependency on Vale and source ore from a more 'manageable' supply, closer to home ...and keeping more of the 'value added' for itself/themselves.

Enter Zanaga....

Preska has decided Argentina can't introduce a new witness at this stage :

https://twitter.com/SebastianMaril/status/1672371823235723266/photo/1

And has some pretty snarky comments about why :

Preska:

What is “highly unusual—if not unprecedented—[is that] the only live fact witness offered by [the Republic] in a multibillion dollar damages trial” that will putatively swing the potential outcome by billions of dollars was never identified or disclosed.

Preska:

Discovery in this matter lasted for almost two years. During that time the Republic made the strategic decision to develop a record and argue that May 8, 2014, was the relevant date and that Plaintiffs were entitled to nothing instead of arguing, as it does now, that Plaintiffs are entitled to four billion dollars instead of eight. Having done so, it cannot now cry about the unfairness of not being permitted to change its strategy, at Plaintiffs’ expense, now that it cannot argue that Plaintiffs are not entitled to anything."

And she's also by and large adopted BUR's proposal re a chess-clock timer system for the pleadings.

Reminds me of Carl Icahn's comment : " I don't make money from Artificial Intelligence; I make money from natural stupidity"....

SRT exceeded its 6.4m target for Placing, ending up with 9.22m, so seemingly lots of interest.

Retail Placing result to be reported Monday (per Primary Bid).

In theory, this suggests that the s/p should recover a bit next week.

IMO

Hi HappySwinner,

I didn't recognise your name, thanks for today's snippet!

I see that you've been around for a while, do you recall the circumstances of this post I found :

RE: Sweepstake12 Dec 2019 20:42

Great idea

extrader 200p Alzheimer's Research

technician 384p Epilepsy Research UK

Dr Remington 250p ? chosen charity

Popples 1250p Forget Me Not

Rej23 450p Anthony Nolan

ShrewdDude67 - 460p - Macmillan cancer support

lynthip £5.22 McMillan Cancer Trust

HappySwinner £5.85 alzheimers society

At the risk of tempting fate, why don't we all update/join in an updated sweep, with our expected takeout s/p and what %age of the proceeds we'd pledge to the charity nominated by the picker closest to the mark ?

I'll start with

extrader 200p Alzheimer's Research 2 %

Over to you (all) - and may the highest pick win!