Member Info for extrader

Don't forget the internal optics either: Ivan was agin greenfield, Gary may want a face-saver for his largest(?) Private shareholder...
Right!
Off for a day's wreckdiving now.
GLA

On quick read, Oasis Group website shows milestones...last updated in 2016....AUM for 1 fund was 5Bn rand = $ 250m in 2015.
Limited connectivity atm, but certainly intriguing.

Hi Driving1
The IPO and concurrent sale by directors was for under 40 m shares, the rest may reasonably considered pretty sticky : ‘friends of friends’, etc. who will likely have got their seed capital back already.
So the available float may be even lower than you suggest…
IMO

The financial report covers the business activity for the 12 month period to 31 December, it takes a while after that - several months- to compile and produce the accounts, which in the case of full year numbers are also subject to external audit.

Maybe time for this man to earn his fees…..

Clinton James Dines
Non-Executive Director
Clinton Dines has been involved in business in China since 1980, including senior positions with the Jardine Matheson Group, Santa Fe Transport Group and Asia Securities Venture Capital. In 1988 he joined BHP as their senior executive in China and, following the merger of BHP and Billiton in 2001, he became president, BHP Billiton China, a position from which he retired in 2009.

;->

Article suggests that Credem is doing this transaction with Sopra Steria

.." the constant monitoring of the goods placed as collateral is ensured by a system of digital databases shared between the manufacturer and the bank (blockchain), developed in collaboration with Sopra Steria, one of the European leaders in consulting and software development..."

https://en.wikipedia.org/wiki/Sopra_Steria
ca. 50,000 employee/consultants, Euro 1.7 billion in equity, Euro 4.7 billion revenue...

AIUI

.."Very convenient avant buys don’t you think ?.."

Why would TAG need to buy SYME shares? It's due to get 5.9 billion shares back when it repays whatever 1AF2 borrowed.

Unless you're suggesting that it knows it won't get the shares back and is just gradually re-building its stake in SYME while they're cheaper than the 'agreed value' of the collateral 1AF2 put up.....

??

Depends on what you're expecting from the finncials :

.."Article 19(11) of MAR provides that a closed period is the period of 30 calendar days before the announcement of an interim financial report or a year-end report which a company is obliged to make public according to the rules of the relevant trading venue or national laws..."

HTH

.."Hi Savvy006 hope you well. Why do you think we will get an RNS today ?.."

Well, like Savvy, I believe we should have, but maybe for a different reason: yesterday TAG disclosed a change in its holding (by virtue of PCA status), but not the current total. AZ has previously reported his total holdings, but hasn't this time.
See the 3rd March 2023 RNS (AZ/TAG/1AF2 UK) for comparison.
AIUI

I'm a holder of Burford(BUR), a litigation finance specialist that has just won a multi-billion $ verdict against Argentina for illegal expropriation of assets (YPF, the country's flagship hydrocarbons producer). It's still high risk and there's the inevitable question of collectability.

However, its success may give some potential investors in C-B pause for thought, given that it's also backing Sundance in an outwardly similar situation , see https://globalarbitrationreview.com/article/burford-backs-miners-claim-against-congo [a USD 8.8 billion claim for expropriation].

At the risk of stating the obvious, BUR doesn't provide finance unless it believes that the legal case it is funding has a high probability of success.

Congo-Brazzaville (whilst fantastically resource-rich) doesn't have much in the way of seizable/sizeable international assets at present, but that might not always be the case.....;->

The mere fact that there is 'live' litigation over expropriation of a mining licence may be off-putting in certain quarters.

IMO, DYOR etc

Artem Foken's webcast was a useful recap, IMO.

He wondered/said he wasn't aware whether BUR had anything analogous to YPF/Argentina in the pipeline.

There's this hxxps://globalarbitrationreview.com/article/burford-backs-miners-claim-against-congo,[an $8.8 billion ICC claim for alleged unwarranted expropriation]

although I doubt whether Congo-Brazzaville (whilst fantastically resource-rich) has much in the way of seizable/sizeable international assets.....

NAI, DYOR etc.

.."Why has nothing happened for 10 years plus with Zanaga?.."

Ivan's aversion to greenfield projects.

Maybe, to coin a phrase, under Nagle 'this time it's different' ?

Dum spiro, spero.
(While I breathe, there's hope...)
;->

.."Why was Simandou picked over Zanaga by Rio Tinto?.."

Perhaps because GLEN/Xstrata/Ivan were in the way?

Hi Vet10,

You ask why no news since November (4 months)?

The Brazilian deal that MM cites (hat tip) has taken a while to come to fruition, see
.."This iron ore deal was initiated in 2019..."

Patience, grasshopper....

;->

Hi TDB,

Interesting, indeed.

However,

.."London-based Bluebell has never disclosed the size of its investment in Glencore despite saying it is one of its largest bets. It first spoke out against the company’s coal strategy in 2021.

The activist has an influential voice despite managing just £160 million.."

Not only is Bluebell's investment stake below a disclosable threshold, if it had 10% portfolio concentration in GLEN, that would be worth.......drumroll.....£ 16 million!

Influential in whose eyes???
ATB

See my post at 1233...and stay lucky!
ATB

You're welcome

.."luckily nobody cares what you say :).."

Certainly lucky for the pumpers, if not for the ordinary PI's !

Ho hum

.."Remember they immediately sold to de-risk..."

Again I ask : Where's the evidence for this claim ?

I've just shown you mine, why don't you show me yours?

.."Would presume cash would be market value of shares at that time..."

That would be normal. The curious thing , though, is that in the original RNS the cash values of the shares at time of pledging them for collateral purposes were individually specified (which puzzled me at the time.
The underhand introduction 6 months later of changes to repayment terms AND the introduction of a 'cash equivalent' alternative certainly make this interpretation possible.

It's usually a good idea to consider what a borrower MIGHT or COULD do, now what he says he will do.

In my experience, IMO

It's in a footnote to the 24/12/2020 - 'Five new investors' (where they, btw?) - RNS :

.."*Mr. Zamboni will be the beneficial owner of the AvantGarde Group, post-merger. The percentage stated does not include the 17.99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced on 29 July 2020. At the end of this stock-lending transaction or on the repayment date (in July 2022), the collateral will be returned to the Group in shares or cash, at the choice of the borrower..."

The second sentence is a material change (variable duration of loan and treatment of collateral) that was not disclosed in the original RNS.

HTH and Happy Easter.