If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Between old friends!
As far as I know the Kazak rehab agreement is their equivilant of a CVA in the uk. A CVA is an alternative to Admin - FYI
.
A brick - just to be sure :)
Its better than the alternative of admin, max are looking odds on to pull this deal off now imo
Its a fresh start with your same creditors - they have to write off any unpaid items, unpaid tax to the kazak government , interest on maturing loans etc - all get wiped, if the creditors agree to it, they can no longer chase for outstanding payments, the new proposal is there sole return of money from max - it just comes down to if they agree to it or say no.
my understanding is this is the kazak's version of a CVA in the uk - or very similar. A CVA in my understanding is an alternative to admin - bascially you draw up a proposal to all your creditors and 75% of them have to say yes for it to go through - under a cva a company can dump unwanted/costly assets, write off items, and fully restructure the company to a viable one - bascially they throw the kitchen sink into a cva dump the excess fat of the business, and come out of if lighter and leaner in my experience. This could be good for max - as is of course better than admin, but it does require creditor approval to be granted - if approved all creditors will be on a new fixed business plan with max, it also protects us shareholders as if agreed there could still he value in the new business after the cva . Please note - this is my understanding of a uk cva which is what they liken this rehab to, no doubt there will be some slight differences in the kazak rehab version. But bascially its a way of avoiding admin and voluntariliary dumping bad/ under performing parts of the business , then agreeing a new deal - of course strickly speaking a cva is not 100% supposed to be an easy way of any bad parts of a business and screw your creditors , but from my experience its used for this and they generally accept as its more than they would get than the pence in the pound from admin, which is the next alternative. To me i think they AGR will want max to get the cva pushed through, to clear the decks and get all creditors on side - then AGR will invest and out of this spawns a very different essentially new company. All in my opinion , could be wrong.
If they want bang for buck substantial returns - 20m is pocket change to them to finish a drill 90% complete going after half billion barrels of oil... Surely worth a punt? Oil prices go up and down just like night always follows day - we will always need both
Re-trading in any form will be small succuess given the dire situation we found ourselves in. Admin will have been a whisker away. Lets hope the deal is favourable for us shareholders, good luck mate - we certainly deserve some after this mad max rollecoaster
It all depends on the terms of the deal ... I am not doubting the debt, lots of shares in issue etc - my point only ever was it was not as cut and dry admin as he massaged his numbers to sugguest. Put simply until we know the deal we can only speculate, once its on the table i will post a full breakdown of the nunbers as i see it, as i did in 2010 and they were not far off. Not sugguesting we are not due a bit of pain here when it gets done, but dont think its as bad as he tries to make out from my fag packet estimates.
Of suggesting strong sell on a suspended share ......
Invest 8.3m today - what would be the point if the plan is admin shortly? Surely it would be throwing money away! Its a olive branch whilst max sort the debt with the bank who have froze interest whilst it gets sorted. Without being overly optimitic, i feel a deal will be done, we just need see what.
The wifi must be excellent on board i assume.
We were told by the so called expert that admin was 100% certain - look back his posts! He even backed it up with his nice fag packet numbers - As i warned then take him with salt and lets see what happened, i reccomend the same now. We are in trouble ( we all F- in ) know this but its certainly not over and todays update can only be taken as a positive compared to the alternative, few more things to iron out but as i speculated previosily max might just pull it off. Im under no illusions of the grave situation here, but be careful listening to folk who have lost a packet here and are bitter *** *** chicken feed ( to him and Dan)
Seems about right to me too. Yeah dont let him sway you, we know the score here its either lose the lot or make a tidy sum - we know the risks He of course has a vested interest in venting bile as he is bitter at losing his pocket money here, not hard to see, but dont let him sway you with his pearls of wisdom from on board his private jet with Dan Bliz - PS do we think Dan Bliz visits lse message boards? Prob not - so take him with a pinch of salt - beware of false profits/prophets
Apologises - i forgot to add the caveat that by "a fortune" i didnt mention it was of course chicken feed to The WOWS. My mistake. Yes i suspect almost all have lost quite a bit here, dont think anyone is even disputing this. By there is only you giving it the Big One about being Dan Blizarians heir. PS 1. No one cares 2. No one beleives you 3. Makes you look rather silly. Rich succuessful people do not need to TELL the world how brilliant they are... There is a clue in there for ya!
Victoriois? Didn't you lose a packet here? Not saying we are doing much better mind, but i wouldnt be giving it the big one to my peers if i had lost a fortune here! Just saying pal.
Bopd was not commercially viable, a FFD plan is needed, with water injection to get anything decent out of it... Got put on back burner when they ran out of cash on the deeps
Buying his token 1 share again. We are doomed :)
?