The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The Bloomberg writer seems confused about the difference between thermal and met coal. Prairie's projects are not for power generating coal. Still - good to get a positive quote from the Ministry.
UncleJohn sounds correct. It depends on the level of management discretion. Might be seeking approval contingent on valuation or may provide approval up to some confidential valuation figure to allow for final negotiation. I don't know enough about the Polish process to be sure. But overall it sounds like good progress. Also - Poland in general is looking to bring national assets back 'in-house' so that supports an approval in my mind. Big question mark still over the valuation.
I don't have a view on where this deal comes out in PLN/AUD terms.
Both parties have a strong incentive to get it done: the assets work for JSW and are worth more for them than someone else due to the proximity of Debiensko. For PDZ, I think they would prefer a deal than taking these assets through development themselves. The key decision makers at PDZ all have skin in the game so I think will do their best for shareholders.
The wild card, as seen this week, is the political situation. My gut feel says a deal gets done this time but the valuation is the part I can't figure out. Too many qualitative variables. I hold, but have seen to many ups and downs in this one over the years to try and predict the final $ outcome.
I'm aware of the Reuters piece, but have not seen anything confirmed. Can you provide a link to that report?
I would not expect the Ministry to back down immediately. It is of course populated by bureaucrats and politicians. There is too much ass-covering and face-saving to be done. I'm also not convinced yet that this is any sort of JSW/ MoE/ Central gov't plot to steal assets - still looks like JK and Debiensko can be assesed separately from my perspective - though I could be wrong of course. Still leaning towards current weakness looking like a buying opportunity. But still yet to actually top up...
New to this (UK/Euro) market. Question on this: on the RNS it states that the 'instrument' used is a CFD (Section B2). Is this different to owning ordinary shares, or is it just some sort of London Stock Exchange jargon? Thanks
Hi Wisha and Mikro - many thanks for your updates and bringing us the Euro perspective.
There are several interesting technologies out there, including potential replacements for steel itself. I am interested in whether there is any evidence you could share regarding your view that finex is 'about to be adopted world wide'. This would indeed represent a significant shift, but I see no evidence for its imminent global adoption.
Yeah maybe not the best endorsement!
Don't think it hit 52 wk high. Was an interesting session but 52 wk high is up over 2.30 - about this time last year? Per ft WSE tearsheet
Thanks for the info guys. Still learning obvs.
Hi Mirabeau would you speculate on what is going on here?
Thanks Wisha - have not traded in a market with MMs like this so good education for me!
For the benefit of those of us not experienced in trading in a dealer market would you be able to please explain what you mean by you 'could' sell 30k etc? Many thanks, Kiwi.