Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Was reported in the last news repory. That would be up to 100x dilution, has anyone read what Peka has in mind with that? Is it a new venture or the old one back?
Yes the mine may be profitable, after quite a big injection of cash from the Finnish Govt through Terrafame, but the old Talvivaara will have no stake in it at all, unless the exchange for shares for debt somehow results in a stake back in Terrafame?
Ok so quite a lot of progress, I like the bit about these arrangements being the final debt liabilities and the option to purchase 10% of Terrafame if funding can be arranged.
I wouldn't get excited about the price as they are only paying 4.6M out of 225M issued, it is however as step towards being relisted so we can only hope.
Translated from http://www.kainuunsanomat.fi/kainuun-sanomat/kainuu/nyrstar-jarjesteli-talvivaara-saataviaan/?utm_medium=twitter&utm_source=twitterfeed Belgium's Nyrstar has transferred all of its rights under the zinc streaming agreement and the loan agreement and the product stream from the provisional suspension of the Agreement Winttal Ltd, which is Terrafame Group Ltd's wholly owned subsidiary. Nyrstar announced that the last day of November recorded the transfer agreement, Talvivaara Mining Company Plc. Debt creditor reshuffle does not lead to immediate changes in Talvivaara and its restructuring program possession. Terrafame Group is wholly owned by the Finnish state the specific function of the company, which manages state ownership and exercise their powers Terrafame Oy. Terrafame Ltd acquired last August in Talvivaara Sotkamo Oy's business operations and assets in Talvivaara Sotkamo Oy's bankruptcy estate and to continue mining operations at the Sotkamo mine. Talvivaara Mining Company Plc's responsibility for the product based on the current contract for the mining limited liability company to provide a guarantee, it gave its former subsidiary Talvivaara Sotkamo behalf. Amounting to EUR 203.4 million in end-of-falls due at the end of a product stream from the contract prematurely. At present, Talvivaara finance their operations by providing administrative and technical services as well as renting of machinery and equipment Terrafame Oy. According to the stock exchange release Talvivaara will continue negotiations Terrafame Group and potential investors in order to invest in Sotkamo mining operations, or to ensure a different kind of economic functional mechanism enabling the continuation of a viable business Talvivaara. Nyrstar is a Belgian company which produces and refines metals. In particular, Nyrstar produces and refines zinc and lead.
Doesn't sound very optimistic keeps repeating there is no shareholder value. At least they say that it is Nyrstar zinc agreement which is holding up resolution and completing the re-org.
I see 2 items which have me a little worried- 500M debt 500M intangible asset When weighed across the balance of investor sentiment I know which one is likely to drive the value ! unless we can shed that debt in the restructuring.
The Terrafame takeover has been announced, and they say old TALV is part of the deal, although I do not have high hopes for much. Pekka is busy on trial and so his activities are probably leaning toward staying out of jail rather than negotiating. It looks like his hand is quite weak as clearly Terrafame want to draw a line in the sand and leave all the bad environmental and heavy debt behind.
Gee be careful out there todays news is not good.
Well they should start mining again today under the Terrafame new company, and we should learn tomorrow what sort of a deal Pekka has managed to salvage. There was talk of fundraising so I hope he has some backers and the old TALV can take a bigger slice of the pie with not too much debt.
Albeit a small one... http://www.kainuunsanomat.fi/kainuun-sanomat/kainuu/emoyhtio-sopi-yhteistyosta-terrafamen-kansa-2/?utm_medium=twitter&utm_source=twitterfeed
I have no clue really, but here are my thoughts - In one of the long reports there was a number for the value of TALV parent being 30M euro I think, If we say that was a fire-sale price then we could be OK, with higher value now the mine looks to be viable again. Of course it could be much lower if lot's of expenses are taken out first, and if the debt for equity swap doesn't go ahead.
Stockpiles are dwindling http://seekingalpha.com/article/3426686-are-nickel-prices-ready-for-a-turnaround-hsbc-thinks-so
This says that a report which recommends starting mining to prevent environmental issues has been kept secret. I would say that is the trigger for the change in policy to go it alone when Audley had finance issues. http://www.mtv.fi/uutiset/kotimaa/artikkeli/ministerio-salaa-talvivaara-konsultin/5238498
Looks like they are restarting mining hopefully they can get one or more new heaps going before winter sets in. No idea about re-listing, or value but I am now more hopeful. http://www.talouselama.fi/uutiset/konkurssipesa+alkaa+louhia++talvivaara+pestaa+120/a2314313
Yes that is better news, I was surprised the govt seemed to prefer the bankruptcy option perhaps the new govt will prioritize industry and jobs, even if TALV needs a bit of subsidy to get going the amount of jobs and economic output should be worth a lot to a country which is stagnating today.
err No... Well actually I think you mean is a bit of a conspiracy to just get the old debt reduced without too much fuss ? Well that is what a debt restructuring IS no conspiracy theory required... I think the banks behind Audley got nervous because of the "breadth of stakeholder interests", or in other words too many problems crawling out of those Finnish woods and lakes.... and the drop in Nickel to 13K$/tn makes it harder to justify tackling those issues.
OK, so for that dilution we would be back in business? sounds like a good deal to me.
http://www.kauppalehti.fi/uutiset/talvivaaran-hallitus-esittaa-yli-500-miljoonan-velkojen-vaihtamista-osakkeiksi/6gARvPZi As far as I can make out this is debt restructure for 500 M euros into 4.5Billion Talv shares. So Talv would not go bankrupt, just diluted. However it does seem weird that Audley can come in and buy the bankrupt assets of Sotkamo leaving Talv with only small assets and a 500M liability. what am i missing?