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I've now heard back from the Nomad, Cenkos. As far as they're aware, things are on track for payment today the 19th (as stated in the RNS), they can't speak as to why HL gave an earlier date.

NAI, DYOR , IMO, etc etc

HL paid the 35% I sold, nothing rec'd for the balance 65% tendered (which they acknowledged).

Said I shld receive 'on or about the 15th'.

I queried this Friday 16th, they've not replied.

Hi Mr Marroc,

Thanks for this link, I'm not on twitter.

Delving into Singer/Elliott, I came across this article, citing Pres. Bush's invocation of comity (subsequently overtaken by events) in an Elliott case (successful) against Congo-Brazzaville.

https://www.theguardian.com/business/economics-blog/2014/aug/07/argentina-debt-crisis-barack-obama-paul-singer-vulture-funds

.."The "vulture" financier now threatening to devour Argentina can be stopped dead by a simple note to the courts from Barack Obama. But the president, while officially supporting Argentina, has not done this one thing that could save Buenos Aires from default.

Obama could prevent vulture hedge-fund billionaire Paul Singer from collecting a single penny from Argentina by invoking the long-established authority granted presidents by the US constitution's "Separation of Powers" clause. Under the principle known as "comity", Obama only need inform US federal judge Thomas Griesa that Singer's suit interferes with the president's sole authority to conduct foreign policy. Case dismissed...."

So we could have a situation where it suits BUR to wait until IT knows who will occupy the Casa Rosada.....and Argentina to procrastinate until after IT knows who will occupy the White House.....???

Your posting history suggests that you have 'informed' opinions, I'd be grateful for your thoughts on this potential (?) wrinkle.

TIA

See what I mean ?

FOMO in action...

:->

And, finally (;->), "Why Argentina is not rich."

https://www.youtube.com/watch?v=vu22RNjjrG0

Summarizes the country's history, from foundation to date, noting roles played by the UK and US at various stages.

ATB

Only 'somewhat' relevant because it's about sovereign debt rather than business expropriation.

But a change of government played a part in the outcome, as did (at 7:23, top of page) Elliott's threat of frustrating future attempts at capital raising by Argentina.

YPF (51% owned by the State), is almost certainly going to need/want to raise significant amounts of capital for the development of Vaca Muerta..

Welcome, here's another one :

Again from WallStreet Millennial, talking about hedgefund Elliott Managements' attempts to enforce payment by Argentina, using unconventional methods.

https://www.youtube.com/watch?v=XuXtDvJLDA4

No doubt BUR's asset recovery team will have taken note.

ATB

Source?

A quote from the SCSW article. Small Company Share Watch.

HTH

Could be ! I've been distracted with other things, both investment and personal.

With GLEN lock-up expiry and ZIOC FY reporting + all the other Gulf/Vale/AD Ports/ BSL/COP28 stuff bubbling away, I'm pretty sure there'll be something to 'surprise and delight' us.

ATB

Thanks !

The article looks to be a progress report on this news, from 2015

https://economictimes.indiatimes.com/industry/banking/finance/banking/export-import-bank-of-india-extends-55-million-credit-line-to-congo/articleshow/46383226.cms.

AFAICS

PS The film's produced by the Ivor Ichikowitz Foundation.

Ichikowitz is a from a South African Jewish family that emigrated from Lithuania.

As did Ivan Glasenberg's family.

Ivor worked at GLEN with Ivan in the 80's and 90's.

Small world...

Going further down a weekend rabbit-hole:

" In 1987, Jean-Yves Ollivier received the Order of Good Hope from Foreign minister Roelof “Pik” Botha. In 1995, he was elevated to the grade of Grand Officer of the Order of Good Hope by South African president Nelson Mandela for his role in ending the Apartheid regime"

Real Frederick Forsyth stuff. Here's how he did it :

https://www.youtube.com/watch?v=nEgpuS1F3p0

Enjoy!

...and some more 'wheels within wheels' , a bit closer to ZIOC...... Rosatom and BRICS/ South-South feature...

https://www.lemonde.fr/afrique/article/2023/06/15/quatre-presidents-africains-en-route-pour-kiev-et-moscou-pour-tenter-une-mediation-entre-poutine-et-zelensky_6177810_3212.html

.."Mr. Ollivier, who was part of Jacques Chirac's African networks, has been kept at arm's length by Emmanuel Macron. Stamped "Françafrique", the intermediary is also a consultant to Rosatom, the Russian civil nuclear giant...."

https://www.enerdata.net/publications/daily-energy-news/russias-rosatom-plans-develop-500-mw-hydro-capacity-congo.html

..."The mediation attempt was revealed on May 16 by the South African president, who has since taken it upon himself to enlist the support of his CHINESE, INDIAN AND BRAZILIAN counterparts. In a telephone conversation with Emmanuel Macron on June 3, Cyril Ramaphosa succeeded in obtaining support from France, albeit minimal.."

'It's complicated' is an understatement.

ATB

Someone posted - here or elsewhere - that DSN was due in Dubai, supposedly a catalyst for progress on matters domestic, incl. the AD Port etc.

He's got a busy schedule, since he's part of the delegation of African leaders seeking to broker a peace deal between Russia and Ukraine. The delegation includes C-B, S Africa, Senegal, Uganda , Zambia and Egypt. They'll be emphasizing the humanitarian, impact on Africa fall-out [which, to be sure, is considerable].

Normally, I wouldn't set much store by these things, but this might be part of some face-saving formula to enable a climbdown/standstill to the fighting.

Curiously, there's a precedent of sorts in the Brazzaville Protocol, that brokered another proxy conflict between the US and Russia (Soviet Union as it then was), where Angola played the role of Ukraine and had reached a similar impasse.

See https://en.wikipedia.org/wiki/Brazzaville_Protocol

the outcome of which was Cuban withdrawal and peace in Angola, in exchange for apartheid S Africa conceding independence for Namibia.

This is the guy who got the ball rolling, quite a remarkable 'unsung hero'

https://en.wikipedia.org/wiki/Jean-Yves_Ollivier

Oh, look : .."In December 1988, Jean-Yves Ollivier helped facilitate the Brazzaville Protocol, which brought an end to the South African Border War and provided for the withdrawal of Cuban troops from Angola and South African troops from Namibia, respectively. Ollivier helped set up the negotiations in the Republic of the Congo and persuaded Congolese president Denis Sassou Nguesso to mediate..."

History may not repeat itself, but maybe it IS rhyming ?

Just a little weekend divertissement while we wait on events.

ATB

WallStreet Millenial has an excellent 20min youtube article, summarizing developments to-date

"Burford Capital vs. Argentina - The multi-billion dollar showdown explained"

https://www.youtube.com/watch?v=tilDGXDS45s&t=44s

Explains the historic commercial and political background and the current political climate and pressures.

It also, to my mind, helps explain why BUR is keen to emphasize that it's not a 'one trick pony'.

ATB

.."“If ink doesn’t go on that contract this year, then we have to inform the president that there’s too many other countries” to develop projects in, he said..."

FOMO, big time ?

Your money = your choice.

GL

My reading of your extract is that there's no limit on volume or amount that can be PRODUCED for export, that's not the same as a licence to actually SELL the stuff.

..""The company still has to obtain an operations licence in Greece so that it can SELL [my point] the cannabis flowers and extract that it will PRODUCE[your point]..."

Capisce?

Why not settle this by writing to HELD for clarification ? I did...and never got a reply.

ATB

From the RNS dated 2nd August 2021 :

"Greek legislation describes a TWO-STAGE [my caps] licensing process; the first being an INSTALLATION licence and the second an OPERATIONAL licence.... Hellenic holds a facility installation licence (the "Licence"), granted on 24 October 2019, which permits it to construct and establish a cannabis processing and production facility. Hellenic is in the FINAL STAGES of completing the necessary works to APPLY FOR an operational licence."

Since then, AFAICS, there's been no RNS or other confirmation that the stages were completed; that the application was made; or that the application succeeded.

The last mention appears to be here

hxxps://ukinvestormagazine.co.uk/standard-reversal-hellenic-dynamics-cultivates-licence

which said (as at 7/12/2022) ..."The company still has to obtain an operations licence in Greece so that it can sell the cannabis flowers and extract that it will produce..."

The quotations from company literature that you cite don't cover this specific issue, AFAICS.

..hxxps://ukinvestormagazine.co.uk/standard-reversal-hellenic-dynamics-cultivates-licence

which said (as at 7/12/2022) ..."The company still has to obtain an operations licence in Greece so that it can SELL the cannabis flowers and extract that it will PRODUCE..."

This is a black swan/white swan issue : HELD can remove the uncertainty in an instant, if it wishes or can. And why ever would it not want to ?