Member Info for liquid1

Agree Shibs

Incoming funds by end to next week!

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Speaking at the AGM today, Mr O'Reilly said that while such a scenario was slightly incredulous for us in the west, these type of delays are common in the east.

He added that APEC is strongly representing to the Irish oil exploration firm that the funds will be received by the new backstop date of September 30.

The Providence Resources boss said his company has seen evidence of the funds from APEC's own financiers flowing towards its bank account and it is in a bank en route to here.

Big buy, money coming to HSBC

Providence boss confident of getting loan from China's APEC

Updated / Thursday, 12 Sep 2019 13:55

Providence Resources CEO Tony O'Reilly said he understood it seems incredulous that the money from APEC had been delayed in the international banking system for so long
Providence Resources CEO Tony O'Reilly said he understood it seems incredulous that the money from APEC had been delayed in the international banking system for so long
By Will Goodbody
Business Editor

The chief executive of Providence Resources has said he fundamentally believes that a $9m loan from its Chinese backers will be delivered.

Tony O'Reilly jr told shareholders at the company's AGM in Dublin that he has staked his reputation on the issue.

Mr O'Reilly said he understood it seemed incredulous that the money had been delayed in the international banking system for so long.

But he added that when the company entered the deal with Chinese company APEC, it did not appreciate the difficulties involved in moving money from Chinese entities through banking systems to here.

Speaking at the AGM today, Mr O'Reilly said that while such a scenario was slightly incredulous for us in the west, these type of delays are common in the east.

He added that APEC is strongly representing to the Irish oil exploration firm that the funds will be received by the new backstop date of September 30.

The Providence Resources boss said his company has seen evidence of the funds from APEC's own financiers flowing towards its bank account and it is in a bank en route to here.

https://www.rte.ie/news/business/2019/0912/1075416-providence-resources-results/

Reckon by end of September, funds will appear

However, Providence revealed in early June that it had not received the initial payment from Apec. A series of subsequent deadlines for receipt of the funds have been missed, with the latest running out on September 9th. The final deadline has been set as September 30th.

Asked whether the company has been messed around by Apec, Mr O’Reilly said: “I don’t think we have. Ask me that in two weeks.”

Stupid mm’s

Asked whether the company has been messed around by Apec, Mr O’Reilly said: “I don’t think we have. Ask me that in two weeks.”

https://www.irishtimes.com/business/energy-and-resources/o-reilly-leadership-of-providence-in-balance-if-funds-not-received-1.4015902?mode=amp

Asked whether the company has been messed around by Apec, Mr O’Reilly said: “I don’t think we have. Ask me that in two weeks.”

O’Reilly leadership of Providence in balance if funds not received
Oil and gas explorer has conditionally raised funds through a share placing

Barryroe Well. Photograph: Finbarr O’Rourke
Barryroe Well. Photograph: Finbarr O’Rourke
Peter Hamilton
about 13 hours ago

Tony O’Reilly jnr, the boss of oil and gas explorer Providence Resources, has said his role as chief executive will be come up for discussion if funds promised by Chinese investors don’t materialise before September 30th.

https://www.irishtimes.com/business/energy-and-resources/o-reilly-leadership-of-providence-in-balance-if-funds-not-received-1.4015902?mode=amp

wheniamfree12 Sep '19 - 16:14 - 7156 of 7156
0 0 0
From the AGM..

“They're still convinced the money from APEC is coming.
Tony said 'he stakes (what left) of his reputation on it'

I asked who the Financiers were 'They said they couldn't say'
Apparently a deal cut and ready to sign with COSL as soon as the money lands.Between all the different Chinese consortium's it's a spiders web.

Apparently communication everyday and the Chinese consortium are still as enthusiastic as ever.Pat said the man hours and paperwork on this deal is huge.
Tony said on the phone every morning at 4:30am..
Tony salary was addressed and as of now it remains but Pat Plunkett it's something that needs to be looked into down the line..

The financial folks at APEC have assured PVR that the payment has been paid on their side. Its in the hands of HSBC who are processing it. A suggested max of 2 to 3 months processing is a possibility based on historic payments from China. APEC are pretty much a facilitator of resources backed by various investors it may be the idea of various investors which is holding up the transfer. I wasn't really expecting PVR to produce to us documentation from APEC side showing a receipt.”

Big buys on PVR after AMG today!

Hope they got some info about APEC!

Most of the 32m free float is gone!

Funding without a placing coming prior to improved results.

All this month.

IDE type rise to 10p

https://lnkd.in/ePTaupV

CloudCoCo - The future starts now

Probably RNS tomorrow???

Trade Corridors funds for Sept-Iles project
DCN News Services September 10, 2019
Trade Corridors funds for Sept-Iles project
SEPT-ILES, QUE. — The federal government has announced spending of $50 million from its National Trade Corridors Fund for improvements to the Pointe-Noire terminal in Sept-Iles, Que.

The project will support the regional mining industry and includes construction of a conveyor to connect the storage yard to the wharf, infrastructure intended to increase vessel loading speed.

Total spending on the project including other levels of government is $180 million.

https://wwitv.com/tv_channels/b6998-Africa-24-TV.htm

https://www.southworld.net/congo-brazzaville-the-resumption-of-the-railway-traffic-raise-new-hopes/

The government is planning to build a new line to evacuate the ore along the old one which was used to export the manganese from Gabon through the port of Pointe Noire and which is now almost completely covered by vegetation.

Potential is enormous since Congo-Brazzaville is planning in the coming years to exploit the vast iron ore deposits located in the North of the Niari province. The Zanaga mine alone which is owned by a subsidiary of the Swiss trading giant Glencore, has estimated reserves of 7 billion tons of iron ore with a 32 percent metal content.

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THE CHINESE PRESENT INVESTMENT NICHES AT A FORUM IN BRAZZAVILLE

by Dina NGOUELASeptember 9, 2019

Brazzaville, the Congolese capital, hosts from 10 to 12 September a forum dedicated to China's investments in Africa. The Congo, which is one of the leading Chinese investment countries on the black continent, is hosting the fifth of this pan-African meeting.

Aside from the two-day conferences at the Kintele International Conference Center, north of Brazzaville, the Congo may well be doing a great job of this meeting. New contracts should be signed with China, particularly that relating to the rehabilitation of the Congo-Océan railway.

https://www.vox.cg/2019/09/les-chinois-presentent-des-niches-dinvestissements-lors-dun-forum-a-brazzaville/

Just remember how big this is

selling cost of $103.14 and average LOM opex $23/ton so $80/ton profit across 6.9bt resource = $552bn - even if they kept just 5% of asset in the end it would be worth $27.6bn or £73.09 per share

https://twitter.com/Mausaeus

I mean could it be any clearer? Today's contract signing ceremony will cover the development of the CFCO railway, Sounda Dam and Pointe Noire SEZ Mineral Port. #ZIOC

https://twitter.com/Mausaeus/status/1171352435262181376

http://jaywingplc.com/securities

"The percentage not regarded in public hands is 65.4%."