Member Info for Legalease

Once the deal is done are share is worth the 27% less the cost of acquisition. If you had the option to acquire (and sell) a house worth 1million quid, which cost you £100 to purchase, and the option came with the right to purchase next door for a further 100 quid and next door was also worth 1 million quid.....how much is your option worth ... I would say. 2mill less acquisition costs, ie tbe £100 option fee, stamp duty and solicitors costs ( which could be a lot tomcat) ... but you get my point.

Precisely my logic. There is no way the assets could be considered impaired once the agreement is executed, given the current commodities bull market, and specifically current iron ore prices, and the anticipated costs of getting the mine back into full production and the anticipated costs of production once the mine is operating again...

Share price Could be £1.50 by 8.30 am on mon, hope they haven’t moved on!

Maybe they are locked in a room dotting the i’s and crossing the t’s?

Philadelphia experiment... funniest thing I have read all say!

Don’t think it is ambitious assets will no longer be impaired. Value imo will be significantly higher than the previous impaired valuation

I'm still thinking £1.50 on 20% :)

He’s probably locked in final negotiations in Brazil, hence no time for rns etc...

WhT do we think about the blue dot vs the various timescale lines? The timescale lines seem to suggests events likely to happen over a period, eg 3 to 6 months, a dot suggests a much more accurate time scale, eg a day....

The market is inefficient, and if you go back to when the original judicial recovery plan was signed off the market cap here was about 10% of what it is now, as the chance of success increases and becomes more widely known the share price should accelerate... I can see it doubling prior to official confirmation of the 20/27%.

Seriously though, my reading of the judgment and I’ve not read it all yet is that the banks objected to the monies realised from the sales being paid to labour creditors before them, and the court stating that there are enough stockpiles for the courts to get their monies in accordance with the agreement ls between the parties, and the most important thing here is the mine gets going again. The judge appears to be making the point that the banks have a fiduciary duty pursuant to the judicial recovery plan, ie they must act in the best interests of the Amapa project, and that by allowing the continued sale of iron ore is in all the parties interests. Presumably paying the labour creditors paved the way for re recruiting the people who know the mine best...

.... if your PA sorts your messages you can just kick back and enjoy your coffee, catch up with the sport headlined and drink your coffee and then just spend a minute or two reading the note she has prepared detailing the messages, once you’ve finished your coffee, and still Bill the £900 obvs.:)

It’s worse than that Tomcat, lawyers normally charge per 6 minute interval, so if a lawyer did 1 minute’s work for you, eg listened to your 1 min voicemail message asking them to call back they may charge you for 6 minutes work:), imagine charging £300 per hour or £30 per 6 minutes and starting the day with 30 voicemail messages of circa 1 min duration,3 hrs chargeable time , or £900 billed before you be finished your first coffee:)

the 10% or $10m net argument looks like it’s just solicitors being solicitors... paid per minute...

Lawyers aren’t normally daft enough to charge by the minute:)

If it opened at 60p post deal I would certainly buying more if I can release funds quick enough to do so, I expect it will be well past this price within minutes though...z

Given iron ore prices are 3 times as high as when asset was given an impaired valuation, it is my view that asset value will no longer be considered impaired and will be significantly higher than I was then, £1.50 easily achievable very short term in announcement of deal, question for me is will it get to £2 in relatively short order....

I’m guessing the stockpile is worth over 1/4 billion alone.

I reckon £1.50 minimum

...is it being loaded?

Yep, 3k at the very start of the day was my top up, shame it couldn’t have been more on this occasion.