Member Info for heaveho

.

.

?!

This is good for SHAFTas it clears there name and they move forward.

Separate arbitration proceedings are under way in Switzerland between EuroChem and Shaft Sinkers. In that case, EuroChem claims damages of $800m, alleging that Shaft Sinkers hid a report which EuroChem argues says that the excavation of the mine shaft could not be completed using the technique Shaft Sinkers proposed. EuroChem also claims Shaft Sinkers paid bribes to an employee of EuroChem to cover up problems encountered during the excavation work at Eurochem’s Gremyachinskoe potash mining project in Russia. Shaft Sinkers was contracted in 2008 to construct a mine shaft at the potash mine, but ran into technical problems. The contract was terminated in April 2012. EuroChem restarted the shaft construction last year using a different provider and a different method from the one Shaft Sinkers had employed, according to Eurochem’s website. The Swiss arbitration proceedings are secret, but defence arguments made on behalf of IMR in the Dutch case stated that EuroChem had misinterpreted the findings of the report into Shaft Sinkers’ proposed excavation methods and that the EuroChem employee to whom bribes were allegedly paid had a consultancy agreement with Shaft Sinkers which he had cleared with his employers. Both Shaft Sinkers and IMR deny any wrongdoing. A spokesperson for Shaft Sinkers said: “Shaft Sinkers completely rejects EuroChem’s unfounded allegations.” A spokesperson for EuroChem said it could not comment on the ongoing court proceedings.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights.http://www.ft.com/cms/s/0/97f6f3ac-82b9-11e3-9d7e-00144feab7de.html#ixzz3Q7Smsz5K Separate arbitration proceedings are under way in Switzerland between EuroChem and Shaft Sinkers. In that case, EuroChem claims damages of $800m, alleging that Shaft Sinkers hid a report which EuroChem argues says that the excavation of the mine shaft could not be completed using the technique Shaft Sinkers proposed. EuroChem also claims Shaft Sinkers paid bribes to an employee of EuroChem to cover up problems encountered during the excavation work at Eurochem’s Gremyachinskoe potash mining project in Russia. Shaft Sinkers was contracted in 2008 to construct a mine shaft at the potash mine, but ran into technical problems. The contract was terminated in April 2012. EuroChem restarted the shaft construction last year using a different provider and a different method from the one Shaft Sinkers had employed, according to Eurochem’s website. The Swiss arbitration proceedings are secret, but defence arguments made on behalf of IMR in the Dutch case stated that EuroChem had misinterpreted the findings of the report into Shaft Sinkers’ proposed excavation methods and that the EuroChem employee to whom bribes were allegedly paid had a consultancy agreement with Shaft Sinkers which he had cleared with his employers. Both Shaft Sinkers and IMR deny any wrongdoing. A spokesperson for Shaft Sinkers said: “Shaft Sinkers completely rejects EuroChem’s unfounded allegations.” A spokesperson for EuroChem said it could not comment on the ongoing court proceedings.

Which side holds more weight to win?

Can we expect much in April

Excellent going forward RNS. I like the end paragraph M&A

This company is one of few specialists out there with these Skills.

On £17million this can x17 bag.

I have a small inkling that the case by Eurochem holds no water and is likely thrown out. Hence SHAFT SINKERS eecover court costs and back payment.

What are your thoughts on SHFT. are you invested? Ive done backgroind reading and it appears two giants doing battle and Shaft Sinkers are caught right in the midst. The share price is rock bottom. The court case more likely looms to favour Shaft. What are your thoughts and are you in?

esp if you have 93 million of assets and loan is 3.6m. They can raise equity to pay of debt or go to YA Global with cap in hand. To me this is a big buy imho but y'all make your mind up. This company has been running since 1965. This is a very specialist company any others like Randgold, Amphlats ans Lonmin rely on them.

This is NOT a dead cat bounce.

The business model looks sound. It appears 2014 was a ANNUS TERRIBLUS for this company. I see no reason why this business should not get a loan. Its possible the bank will loan and covert them to shares. From what i seen from the SHAFTSINKER.CO.ZA. They have very sound model. I think this is a dead cat by a country mile.

Do FAST have debt? How money in bank?

I think it would be safe to assume that we'll receive no RNS until January/Feb. I'm inclined to now invest long term here. I think we might see between 2 and 3p or possibly 5p

Steep drop

Prediction INC to be sold of for 50 million at the end of 2015.