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I think they own 20% granesberg with an option for a further 70% odd
Good question what formula is to take up the option. I can't recall ever having seen it mentioned or discussed
Perhaps a question for Jo on the day out.
Sling
No worries I share your frustration
I was pointing Andy to the website because if he have a look there it has detailed information that he may find helpful
As an observation I had no children when i first took an interest in the company - now my children have children(and not young ones)
On previous occasions for my amusement and doubtless to the irritation on other posters I have highlighted how many printed ministers have come and gone since the company aquired Parys rights - length of time for brexit and channel tunnel etc.
I shall not do so again today and do hope that the latest round of drilling and reports etc will lead to some actual mining.
I
Further to last posting also I think encouraging that Juno have shown faith by converting part of their debt(which in event of company liquidation would rank ahead of equity) actually to equity whilst seemingly accepted that the reduced interest rate on debt also reflects a better position.
Would imply a degree of confidence on their part. I also like that they have not overdone the conversion and created too much dilution.
All credit to the architects of the restructure
I agree with you Brent aptly described the launch when it comes some time ago. I lack his articulation skills but was something to do with a rocket.
On a side note when meet him in flesh best not to mention competitions or prizes ( says I hoping to encourage such an event)
Has similar effect to mention of war at Fawlty Towers on this board at least
I know there are many challenges ahead and if there is any Banking scandal or way to lose money historically Natwest or at least RBS was usually part of it.
But a large part of the risky subsidiaries are now gone and the Bank does appear to be on better foundations.
So at risk of stating the obvious rising interest rates will have a massive endowment affect. At any one time the Bank holds billions of pounds on current account for which it pays nothing. At present it lends it out largely at base rate plus a margin. Every time base rate rises the profit from this free money does too. To a lesser extent so does the profit from interest bearing accounts. A rise is rarely reflected in a full increase in credit rates.
Long term increased interest costs etc will lead to more defaults but that will take time - increase in profits will be immediate.
Just my thoughts
To quote - my hope is that AYM's contractual right to increase its minority shareholding in Grangesburg to over 50% will make it possible to sell it off to a bigboy iron company in a flurry of paperwork resulting in a cash windfall for AYM
I think Brent that is a very good point
with all sorts of interesting opportunities. Skilfully handled might avoid need for much finance.
In course of events I might be tempted to see if the knowledgeable South Westerner could drop in and comment on that.
From past experience a few days hope before his cold realism be welcome.