Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
Wimbledon, I understand what you're saying, and I am hoping that there is validity to it; however, I have to assume that this guy Jukka Oksaharju from Nordnet knows something about the deal. The full text of the English language article (including his quote) are here: http://uk.reuters.com/article/2015/03/12/talvivaaran-restructuring-idUKL5N0WE1YK20150312 And similarly on page 6 of this Reuters newsletter: http://share.thomsonreuters.com/assets/newsletters/Inside_Metals/IM_Mar_13_2015.pdf
Now that I've had a chance to review the info that's been put out, I see that we are pretty much done. The assets (the mining rights an equipment) of the listed company (in which we own shares) are being sold, leaving the listed company with virtually nothing of value. A quote from one of the articles: ""With the only asset of the company sold, the probability of (listed) Talvivaara going bankrupt is 90 percent. That company is no longer viable," said Nordnet's equity strategist Jukka Oksaharju. "At Nordnet alone we have about 15 000 investors who have put money into Talvivaara shares. They will lose it all in a bankruptcy," Oksaharju added." And that, as they say, is that.
Nope.
11c would just about make me whole. I would, however, like to continue an investment in this company - so no matter what the final price, I will just hold long-term. My only wish is that we retain something, rather than nothing; so, is that what you are getting out of this - it's expected that current shareholders will retain some value (and not just special shareholders like the Finnish government)?
Thanks for posting that; we are now back to where I bought in (on its slide last year), so I'm looking forward to some upside...
I understand that there will be a press conference at 10:30 (so, right about now) - perhaps more info then. I would still be incredulous if they are really going to allow all those Finnish shareholders/retirees to be completely wiped out.
Yeay, as soon as this hits 1.35 I'll be back in the money.
OK, many thanks for this, it does answer the most pressing of my questions. I would be quite content to end up viewing this as a long-term hold - which is probably a good thing given that I bought at around 0.08. I think that there is evidently a business there, but even in a best case scenario, the weight of the debt means that it will be many moons before equity holders see any benefit. For what it's worth, my best guess is that we will see an agreement where most of the debt is converted to equity - or at least a strike price at which the debt will automatically convert to equity. We shall see.
This is the first time I have ended up holding shares in a company that is going through bankruptcy. I was just wondering if anyone on this board would like to share how they think this might play out. To be honest, I don't even know if the shares I hold are in Talvivaara, or Talvivaara Sotkamo, which is relevant given that the original press release from Nov 6th said in part, "The listed parent company Talvivaara will provide services for the bankruptcy estate of Talvivaara Sotkamo and continue its operations for the time being with the target of securing sufficient financing to acquire the mining operations and associated assets and rights from the bankruptcy estate of Talvivaara Sotkamo." I'm assuming that my shares are in Talvivaara Sotkamo, given that my account shows the number of shares and a value of zero. But, is there another listed company, Talvivaara? Or are the shares in Talvivaara, and they've just stopped trading because the main asset, Talvivaara Sotkamo, is going through bankruptcy? My assumption (not well thought through) was that there was no way that the Finnish government would let this company go belly up, given the number of Finnish retirement funds invested in it. But if those funds are invested in some parent company, then my assumption holds no weight - they have no reason not to let the subsidiary go bust and then buy it for nothing; in fact, the investors of Talvivaara would have lots of reasons to let Talvivaara Sotkamo go bust. So, would anyone here like to weigh in on what the chances are of us ever seeing any value in these shares?
Sorry if this has already been mentioned; extension on the debt-restructuring (in English, which is nice): "Talvivaara on Wednesday announced it had been granted an extension until end-September to present its debt restructuring plan, saying it must first secure more long-term funding." and "Finnish nickel miner Talvivaara (TLV1V.HE), which is undergoing a debt restructuring, should seek a merger with an industrial partner along with its search for new investors, its administrator said." Full article: http://www.reuters.com/article/2014/05/21/us-talvivaara-restructuring-idUSBREA4K0LY20140521
I'm looking into Keytrade Bank Luxembourg.
I think that many people have no intention of following this to the Helsinki exchange; if they don't sell their shares before the delisting, they will automatically own shares that can only be traded through a broker that deals with the OMXH, which is not a general offering of most brokerages. The only thing left to discuss for those people is when to sell before the delisting - no long-term thoughts. Personally, I have been thinking about opening an account with a different brokerage for some time, so I am looking into a place that gives me access to the Scandinavian markets (not just OMXH).
First time for me, and a quick google doesn't tell me anything... what do we do with the shares we've purchased on the LSE? Are we supposed to sell them and buy those traded in Helsinki, or do these shares automatically transfer to that exchange? I am guessing it's the latter, but would appreciate anyone with experience weighing in...
Thank you for posting, but I don't see anything here that is new. The rise in nickel price, the various deals... it has all been factored in in the current price. The fact is that without further investment, or a change in the debt structure, the sp will just bobble around on rumours until the news on that restructuring - good or bad - comes out.
I'm out for now; I have a modest overall return and I don't see this going anywhere soon; with no evident news on the horizon, it's not worth it (to me) to ride the risks up and down. Maybe later when i get some inkling of a deal in the works...
OK, so we've had 2013's report, finally, which we all knew wasn't going to be wonderful. What's the deal now with the restructuring? What are the time limitations, if any?
Yep.
Don't get me wrong, I'm not a shorter; on average with TALV, I'm just barely in the money at the moment and am hoping for a significant pop. I'm going to let it ride even to the point of seeing it disappear.
Just to reiterate from my comment on Tuesday, "I am thinking that we will see some stability, some slight decline, until end of April when the new numbers are supposed to come out." I'm seeing nothing to change that opinion. Incidentally, I had gotten all excited that someone (Nyrstar) had felt positive enough about TALV to lend it more money. However, upon further noodling, they haven't lent any money - they have advanced paid for zinc. I would assume that this means that they have first claim on that particular asset should the company go bankrupt (unlike a general loan where they would have to get in line with the other creditors). So, perhaps not quite as confidence inspiring.
Yes. The sun will rise. But with regards to TALV, I am thinking that we will see some stability, some slight decline, until end of April when the new numbers are supposed to come out. This infusion is a very good sign that someone knows that this is worth saving. More importantly, that a creditor feels good lending the money.