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A Russian billionaire who owns part of sanctioned bank, bought a 29% stake in Petropavlovsk. Would he have bought it if he thought Putin would nationalise it? Seems good omen for Amur. Article in todays Times. Sorry behind paywall. https://www.thetimes.co.uk/article/co-owner-of-sanctioned-russian-bank-takes-stake-in-petropavlovsk-rvsj8vtpw
Kremlin not considering nationalization of foreign companies’ property in Russia
Earlier, Dmitry Medvedev did not rule out the nationalization of the property of people registered in the US, the EU, and other unfriendly jurisdictions amid new sanctions against Moscow
MOSCOW, March 3. /TASS/. The Kremlin is not considering nationalization of the property of foreign companies in Russia, Presidential Spokesman Dmitry Peskov told reporters on Thursday.
"I am not aware of this, and the Kremlin is not considering it," he said when asked a respective question.
"All issues related to sanctions, to minimization of the damage of those sanctions are considered and decisions are taken by the government’s crisis center headed by [Russian Prime Minister Mikhail] Mishustin," he said.
Earlier, Deputy Chairman of the Russian Security Council Dmitry Medvedev did not rule out the nationalization of the property of people registered in the US, the EU, and other unfriendly jurisdictions amid new sanctions against Moscow.
Russian President Vladimir Putin said on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation in Ukraine, stressing that Moscow had no plans of occupying Ukrainian territories. Western countries responded to the actions of the Russian authorities by slapping sanctions against physical and legal entities.
https://tass.com/economy/1415861?utm_source=google.com&utm_medium=organic&utm_campaign=google.com&utm_referrer=google.com
If I was the Russian buyer, (and assuming that Mr Putin was not going to nationalise Amur and give it to him for a knock down price - which is possible), I might be thinking that if it is nationalised, and I didn't get it I would be missing out on a £40bn (?) asset for £100m or so. Even if there are sanctions against Russia, I am sure China would still buy it so no loss there. This seems to be a risk worth taking, and if you have £100m a rare opportunity.
For this reason I don't think we are dead in the water (but then I hate taking big losses and try to be optimistic).
Hi Geng,
I remember the point about exploration costs. People had been keeping a cost some years back, they should be fairly reasonably by now. I realise that if we tried to get it back via a lawsuit it would take years, even if we were successful, but wonder if anyone has a pence per share cost of it.
I am not invested here yet, but it looks interesting. What caught my eye was the interview advertised on LSE. The reason why it caught my attention was because I am a management consultant and used to work for Rolf about 20 years ago. What I can say is that although he comes across as a smooth talker he was always very honest, ran the company very professionally, and always showed integrity. I am invested in a spread of shares, and some of them are run by people who use the system to earn a living while lying through their teeth. Rolf does not strike me as that sort of person.
Another comment from Master Investor
https://masterinvestor.co.uk/equities/small-cap-comment-on-saa-snws-and-acrl/?mc_cid=95c58f4631&mc_eid=16921d395e
https://masterinvestor.co.uk/equities/inland-homes-profit-upgrades-expected-with-the-figures-later-this-month/?mc_cid=206899ed80&mc_eid=16921d395e
Another tip from MasterInvestor which finishes by saying "With its shares at just 53p I remain totally convinced that they are going to have a good run-up this year and could so easily double in value."
Sunday Times says electric car revolution motoring towards a giant pothole - “there isn’t nearly enough metal around to put in all the batteries we need” . So its nice to hear the same story in a respected broadsheet.