Member Info for hxulcolrdoh

I wonder if there is likely to be any news and/or development on the proposed acquisition of MPNU ?

Regarding "The Group remains on track to meet market expectations"

What are these market expectations ? In the absence of any company guidance how did the market arrive at these expectations ?

Anybody know of any links to broker research ?

I don't think Biden knows whether he is living or stuffed.

The point is that this morning ANTO shareholders know EXACTLY how the company is performing up to this point.

PFG shareholders will have to wait for 5 months before any real light is shone on the numbers.

Theborn - I think what weighs on PFG's share price is the lack of transparency / visibility. MLM apparently has an interest in numeracy but never puts a number on anything.

Today for example ANTO also published a Q3 report. Compare and contrast. Numbers everywhere.

https://www.lse.co.uk/rns/ANTO/q3-2022-production-report-csflr5ya682oumn.html

"I am pleased to report that the Group continued to perform in-line with management's expectations"

Having read the release I am no more informed today than I was yesterday. The fact that I am pondering over 'delighted' vs 'pleased' highlights that I'm struggling to pull something meaningful/concrete out of the RNS.

MLM's ability to string words together without revealing or committing to anything is quite remarkable.

The one potentially useful comment was "The Group remains on track to meet market expectations for FY'22" - if only I knew what these were.

Shareholders will just have to wait for a 'big reveal' in Mar/Apr 2023 when the final results are published.

To anyone buying a full EV's - keep the details. In a few years time there will be legal campaigns "Where you too miss sold an E.V. on the basis that it had a lower carbon foot print than a petrol car?"

https://youtu.be/S1E8SQde5rk?t=469

In a nutshell even if they are powered by windmills (my local power station runs on coal) if they have a decent range the increased production carbon costs will never be recouped in the life of the vehicle.

Full EVs should be banned in favour of plug in hybrids with limited electrical range. The limited electrical range will do most people most of the time with a petrol fallback when needed. With PHEVS we don't need to rape the planet to produce them to the extent that is required for a full EV with decent range.

On Truss specifically she is hugely over promoted / out of her depth.

However the ‘Truss problem’ (and doubtless this would apply to whomever eventually replaces her - of whatever stripe) is that in modern life those with wit have ceded the ground to those with ‘social media skills’.

Moreover modern democracy lacks essential checks and balances. Most notably it allows politicians to buy office and power today with the debts of tomorrow. There used to be a counterbalance. It was called the gold standard.

IMO it is immoral for one generation NOT to leave the books square for the generation that follow.

Today the real UK national government debt (including unfunded liabilities) equates to £344,216 per household, £143,382 per person (thats on top of mortgages/personal debt) and ballooning. Will it be paid? Who will pay it ? Can you see yourself ponying up your share ?

Meanwhile politicians mouth weasel words about “borrowing to invest in the future” when we all know what they really mean is that they just want to pander to popular opinion / win votes today and couldn’t give a flying Wallenda about creating a bigger mess for a future date.

Any increased additional debt will NOT be paid because

- the existing debt is already unstainable.
- age distribution pyramid is inverting and there will considerably fewer bodies to pay it (while the fewer bodies are increasingly burdened by their elders)
- globalisation is going into reverse post covid supply issues / Russian crisis / potential China problems.
- an energy crisis due to half baked counter productive green energy policies excarbated by the Russian crisis.

To be sure, to be sure, begorrah, bejasus

I hadn't realised that we had such a large shareholder.

Presumably if/when SLE gains traction they will simply take it private ?

Following the epic fail of the recent tender intended to shrink the gap between the share price (then 210p) and the most recently published 'Statutory NAV' (329p) ..

A collection of directors including the CFO have put their money where their mouth is / made significant buys at an average of 145p

Bengt Mortstedt £295,200
Fredrik Widlund £ 64,459
Andrew Kirkman £153,804

If the share price even only recovered to where it was when the tender was offered this would be a decent uplift. DYOR.

So we are saying that large inventories are a required part of the business model and that posters who suggest that they are potentially a 'get out of jail free' card for BMN's looming debt obligations are talking nonsense ?

When inventories are mentioned - frankly they are at ridiculous levels! Meanwhile rather selling vanadium and paying their bills they are issuing shares ?

At the interim's inventory was 826 mtV. If BMN produces 4000mtV this year then this represents 20% + of annual production!.

At the year end the inventory was 832 mtV. So no headway was made in H1 when prices were buoyant (average $46.4 kgV) . Unfortunately that ship has sailed.

If BMN can only ship 3200 mtV p.a. what is the point in producing 5400 mtV next year and aspiring to 8000 mtV ?

Increasing production will only weaken their already weak finances if they can't ship inventory. This is something BMN really need to get on top of.

154,132,053 shares were offered for 10,184,894 on offer so I would have expected 1 in 15.133 ?

No not really (on the back of the £25.5m share purchase there will be a small change in the NAV )

The shares are currently deeply (50%+) discounted to their NAV.

The logic is flawed. Yes all things being equal if X% of shares are magically removed then the remaining shares are worth 1/(1-X) more if MC is maintained. However they are not magically removed they are bought with cash and a consequent depletion of assets.

Presumably if CLI are willing to buy 10,184,894 Ordinary Shares and 154,132,053 have been offered then they will buy roughly 1 in 15 ?

Presumably if 2.5% of shares are taken out of circulation then the remaining shares are worth 2.5% more ?

The non controlling interests would be the Kingdom of Lesotho - so you can probably rule out GEMD as a potential take over target.

Why are non controlling interests paid when ordinary shareholders are not - I don't know
Why are non controlling interests paid more than ordinary shareholders when the later are paid - I don't know
Whats with $82m deferred tax liabilities - I don't know

I gave up trying to fathom GEMD and concluded 'Something is Rotten in the State of Denmark'

That said they could find some large stones in the morning and the share price could rocket.

Trousered £1m+ in remuneration is 2021.

I believe he also has sidelines providing 'services' to GEMD proper ( https://companycheck.co.uk/company/06482961/GEM-DIAMONDS-INVESTMENTS-LIMITED/companies-house-data)

DYOR/IMO makes his real money 'playing ball' with 3rd parties.

Freedom4All - for my view see the first post on this thread.