Member Info for mac4671

I would agree if the FSP had not been started Seadog and Plface, but it has, and as such, it's a value adding move within the FSP to gain maximum value from WK in my eyes. We could quite easily gradually expand WK while also taking MT to production, if it was not for the current FSP situation ran by UBS -

"The Board has therefore decided to appoint UBS Investment Bank in London ("UBS") as its leading financial adviser to assist in a review of its strategic options including asset sales or a sale of the Company."

GLA

Use it wisely scoobie, not sure why you needed to tell us, but i don't think it will have much effect on proceedings ;) -

24/08/20 08:00 656 21.80 21.50 22.50 £143.01 Sell

“the stock market is a device for transferring money from the impatient to the patient.” - Warren Buffett

GLA

I'm sure i saw someone asking, so this is a real life example provided by Raharh not so long ago. It may shed some light on the situation that we all currently find ourselves in -

"mac - i agree in part with you. Having been involved in a four way sale of a company (to private equity - not public listed) that sold for just over £1bn we had a formal 12 week process that was run by the M&A bank. The fireside chats were happening long before that (3 months or so) lining up PE houses, so they came warm to the table.

The process basically ran as a two week entry process (we had 9 involved) with NDAs and access to data room before initial offers were put in. Anyone below 900m were rejected and we went down to 5. Then we had full day presentations from the BoD to the PE houses that were scheduled in the same week (5 days of my life I will never get back) - one dropped out and did not attend.

From week 5 onwards it was DD and loads of questions.

Closing offers were due by week 10, however one of the PE houses broke rank in week 8 and put a number on the table that the BoD and the current PE house were happy with and the process was abruptly ended much to the dismay of some of the other bidders - but the new PE house got in there with an offer that was above the target sale and sufficient enough to do the deal.

I have a twelve week window in my mind from 1st July but now we are in week 6 onwards, for me we are in the heat of the battle now if there are multiple bidders.

All I am saying is that if someone really wants it and does not want the bidding war an offer could land that sets them apart and basically shuts the process down - which is why it could happen at any time."

This Wednesday, 8 weeks will have passed in the FSP!!

GLA

You're very welcome, i'm sure everyone here now is certain that we're just waiting on the the issuance of the license, and that it may land at any point, as is the nature of these things after a certain time has passed.

All the best to you and good luck with your investment here.

GLA

I merely pointed out the timeline to date and what is in RNS Hallster. There is no picking a fight, simply repeating what is in RNS for anyone to read themselves.

Nice try.

GLA

What, so now you don't believe RNS hallster?. It's a bit of a silly question when it's all there in black and white in RNS tbh.

We're going around in circles, because you seem to refuse o believe what has happened so far, 3 months for first signature, 4 months for second, now all bodies have approved and we're waiting on the license issuance, as per RNS.

Not entirely sure why you wish to make such an issue out of it, when you even say yourself that they're guaranteed.

GLA

Where the license is, as per RNS hallster, all bodies have approved it, we're waiting on the paperwork -

"The application has been approved by all federal bodies including FSB and Ministry of Defence and awaits license issuance."

GLA

That's why the word 'may' is there Hallster. But, the pandemic is very real, and certain things were put in place in Russia.
Things that could quite easily slow any meeting down. Just because it says local meeting, it doesn't 100% mean that people from outside the area would not be attending that local meeting. As i say, we don't know who that underground structure is for, do we?.

We run a open pit mining company here, so there's a good chance that it may not be for us.

GLA

Not really, when you're in a pandemic and having to socially distance. We don't know who the underground structure at Tipil is for, it may be Gov related, and someone may have had to go to the urals from Moscow for the meeting, you just don't know. There are many variables that would slow a meeting down in a pandemic imho.

GLA

The Tipil license required a local meeting hallster, it's in Dec RNS. No such meeting for MT.

GLA

Sorry for the double post saying the same thing, phone made it appear as if the first had not posted.

GLA

They have been approved by all bodies, so are on the way. In my opinion, we're just waiting for the official bit of paper to land -

"The application has been approved by all federal bodies including FSB and Ministry of Defence and awaits license issuance."

GLA

From RNS, they have been approved by all bodies -

"The application has been approved by all federal bodies including FSB and Ministry of Defence and awaits license issuance."

To me, we're simply waiting for the bit of paper to land.

GLA

Example so far, first body sign off took around 3 months, second body sign off took around 4 months, third body sign off and paperwork landing is pending.

The 3-4 months per body i suggest, comes from history, nothing more, nothing less.

They're due now in my opinion, but yes, as you have also said, they are guarenteed, Russian law makes that the case.

GLA

They can land at any point hallster. They arrived at the final body in april, it's just a matter of considering what you think may be a reasonable time frame for them to land, and looking at things like the passing over of predecessors data.

They were applied for last sept, a lot of time has passed.

GLA

What's important morning, is that they're Eurasia's, and it's all possibly for sale. How things got to this point is somewhat irrelavent at this stage tbh. Interesting, but it has no effect on where we currently are.
Eurasia have the rights, and the exclusivity. It's all Russian law.

See yous all bright and early, for another day within this FSP.

GLA

To give you an idea why Russia supports all of this, as well as dominating the market, they also get things like these out of good mining areas -

"According to the company, a total of 5860 new jobs will be created and 40 billion rubles of tax payments annually transferred to the state treasury."

That was what would have came out of that Arctic JV. Everyone benefits in Russia from something like that.

GLA

"Federal Anti-Monopoly Service", that's also a very good point scoobieless, there is also that to consider in Russia.
Being part of the Arctic JV would potentially be enough of the permitted monopoly for NN.

Again, it has however now collapsed for NN, so they may very well be looking at MT as a near term asset again.

Situations change, companies adapt.

GLA

Arctic JV was a huge thing for Russia, even the title tells you that -

"Arctic Palladium invests $15 billion in new project, will make Russia world’s biggest producer of rare metal"

The JV fell apart, and now they need an area to fill the gap -

"The Arctic mining group revealed ambitious production targets for its key metals — nickel, copper, palladium and platinum — for 2030 onward".

MT is that area to fill the near term gap.

GLA

By 2018 they couldn't get any rights Rowka, Eurasia had mining rights at MT, therefore the Russian federal law kicks in for the flanks -

"Russian Federal law states that a licence application is uncontested in an area within 5km radius of the approved resource."

By 2019 NN were possibly also fully financially committed to the arctic JV -

https://thebarentsobserver.com/en/2019/11/arctic-palladium-invests-15-billion-new-project-will-make-russia-worlds-biggest-producer

GLA