Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Well that was the Doom Gllom and Debt report, remember a lot of companies lost a lot when Sotkamo went bankrupt so they can't paint a pretty just yet. The next report will be a report on the income and progress achieved during administration and who is interested in investing, which already we have 2 bottom-feeders so there must be more.
You wait for months and then 2 come at the same time!
are suggested to be a buyer. http://www.mtv.fi/uutiset/kotimaa/artikkeli/kommentti-valtio-rauhoittelee-talvivaaran-mahdollista-ostajaa-jo-60-miljoonalla/4821168?utm_medium=twitter&utm_source=MTV+Uutiset
If my maths is correct was > $US 180M in a year when they were operating under administration. 9602 Ton Nickel 19387 Ton Zinc there are other metals including Uranium they can sell now? so it just seems like they have to adjust the debt and the mine will be solvent, people employed and investors happy!
Looks like things are re-starting under administration. This article seems to say that they are going to move the non-performing primary heaps to the secondary heaps and this will allow new ore to be mined and heaped. http://yle.fi/uutiset/konkurssipesa_aloittaa_talvivaarassa_liki_kahden_vuoden_urakan/7796539?origin=rss&utm_source=twitterfeed&utm_medium=twitter
Looking promising. http://hbl.fi/nyheter/2015-02-03/715111/hs-tre-vill-kopa-talvivaara "There are three foreign serious candidates who want to buy Talvivaaragruvan, writes Helsingin Sanomat. According to the newspaper, five actors gave bids for Talvivaara, three of whom also actively negotiated. It handlarom consortia of companies and investors. In one of the candidates included the Belgian mining giant Nyrstar, which belongs to Talvivaara's largest creditor. According HS Swedish Boliden also announced a tender but not been active in the negotiations. The one-man Pekka Jaatinen, Trade and Industry January Vapaavuori (Coalition) has previously said that there is credible and serious players who want to buy Talvivaara."
I guess that is good news. They probably have an investor lined up however they will not want to start until the discharge pipe and spring melt issues are clear.
Yes 30th Jan so Friday
You could read the posts of the last 6 months here for a start, however I can fill in the basics. You will have TALV not Sotkamo, as Sotkamo which went bankrupt, was a wholly owned subsidiary of TALV and so not publicly traded. The price you see is zero because the stock is suspended from trading, some value is still there however you cannot sell until the suspension is removed. The suspension is to protect you unscrupulous persons exploiting investors whilst the bankruptcy proceeds and the true value is not known and could be zero. If TALV finances are sorted out and new investment is found which looks quite likely now, then the shares will start trading again, however the price may be radically different from what it was when you bought. We can only hope that we at least get our money back, although that is far from likely, as there was a lot of debt to pay off first. The administrator is a court appointed official who runs the company under bankruptcy and basically deals with all the interested parties and tries to salvage as much as possible in a fair and transparent way. Friday 30th Feb is a key date although the press has also mentioned April and May as key dates, we don't know.
Well maybe not this says it needs more funding - like nationalisation by attrition. http://barentsobserver.com/en/business/2015/01/talvivaara-mining-company-seek-new-state-bailout-26-01?utm_medium=twitter&utm_source=twitterfeed
Actually on re-thinking I would guess they are saying that the waste-pipe is needed in any case in order to properly manage the water, so it is not an option it is mandatory.
http://yle.fi/uutiset/talvivaara_juoksuttaa_taas__paastorajat_kiristyivat/7725639?origin=rss&utm_source=twitterfeed&utm_medium=twitter This seems a bit mixed, the heaps are working better than last winter and water issues are less than last year, however 8M M^3 of water has accumulated and only 200 M^3 per day can be released, however the sulphate levels are low. I would hazard a guess they are saying they need the new water pipe in order to ramp up production. They also say that a new investor will be found in the spring, which seems very positive I must say.
From what I have read over the holiday period there is some progress towards normal operation. The waster water pipeline is under planning to prevent any more spills, and the financial structure is being simplified by closing down subsidiary companies. The bankruptcy of Sotkamo looked bad but probably doesn't make any real difference, and clears up a lot of uncertainty. Workers have contracts till May which probably means we will tick over like this until new investment is found. How much is left for TALV investors is uncertain, but certainly we are in a better situation than in Nov-Dec.
In my opinion things are going better now, they are properly planing for a sustainable business, consulting with local interests about waste water and sulphate management, behaving more like a responsible business. http://www.kainuunsanomat.fi/kainuun-sanomat/kainuu/talvivaaran-uutta-purkuputkea-koskeva-lupahakemus-nahtaville/
Ok I am just filling in the gaps, if they are talking about re-starting mining and water management over the winter, it is more like normal operations rather than just talking about a total shutdown.
This looks like Sotkamo has resumed normal operations whilst under administration, I think some financial blockage has perversly been released by the bankruptcy like the US call chapter 11? http://www.iltasanomat.fi/kotimaa/art-1417764114638.html?ref=rss&utm_medium=twitter&utm_source=twitterfeed
There is this which says that workers for Sotkamo have a new contract until 31/05/2015, and that the metals recovery will continue. http://www.kaleva.fi/uutiset/talous/talvivaaran-konkurssipesa-myy-omaisuutta-ja-liiketoimintaa/683138/?utm_source=twitterfeed&utm_medium=twitter
No, news seems pretty slow at the moment.
Oh dear, I also have a little money in CTFA which I don't believe will see the light of day. I am more happy with MSMN, which looks like a winner now.
Yes although it seems like every other paragraph ends with "As a result, shareholders could lose their entire investment in the Company." Which I believe puts pressure on the govt to sort it out.