Member Info for mac4671

He posted about NDAs JR-

"NDA has been spoken so much people are assuming its fact.
Noone knows 100% that any NDA has been signed by any party."

I simply corrected him.

I have gave you the answer as to where we are currently at, it doesn't need to be continually gone over.

GLA

There is nothing valid at all JR, it is there in BLACK and WHITE in RNS, that there are NDAs in place from more than one party, hence 'parties'.

The FSP is not complete, granted, but that formal process started on the 01/07/20 as per RNS.

So the facts are that we have NDAs in place for Monchetundra and the formal sale process in underway, that is where we are right now, all in RNS.

GLA

I think we will stick to RNS John, the official news release system for the market and company -

"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."

https://www.lse.co.uk/rns/EUA/statement-re-formal-sale-process-s2dz3bhew85fz5j.html

It is there in black and white, hence why it is often brought up.

GLA

No selecta6, we're now in the formal for sale process, as soon as they place an official offer on the table we have to be informed.
The expression of interest, notably in MT, has been here since 2015. Now parties have signed NDAs for monchetundra -

"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."

We're in an official sale process, as per that RNS dated 01/07/20.

It may be a little confusing as there is quite a lot which has happened over the years here, and certainly a lot which has happened quite recently.

Perhaps you could start with reading the bank RNS from back in OCT, it might help you understand everything a bit better -

https://www.lse.co.uk/rns/EUA/engagement-with-citic-and-vtb-capital-9jxlv98khqhae4b.html

GLA

The usual 28 day would of took it to close of play fri 7th AUG.

It doesn't mean that an offer won't land in that period, all it really means is potential buyers have a more relaxed atmosphere and more time to get their offer together. This tweet explains the benefit of removing it -

https://twitter.com/like_mines/status/1283887285910614017?s=20

GLA

Yeah, that's how i read it brookkers, it's just the anonymity of the company making an offer that is currently protected while they take part in the FSP. They would indeed be named once the FSP is satisfactorily completed. They also don't have the usual 28 day deadline to make an offer -

"The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Takeover Code such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement and will not be subject to the 28 day deadline referred to in Rule 2.6(a) of the Takeover Code for so long as it is participating in the formal sale process. Following this announcement, the Company is now considered to be in an "offer period" as defined in the Takeover Code, and the dealing disclosure requirements listed below will apply."

The good thing, is that we're well into the FSP and people have already signed NDAs for Monchetundra, so news really could land at any stage imho.

GLA

At least that's how i believe it would be done where companies have been granted anonymity.

Don't take it as gospel though, as this is all very much as new to me as it is to a lot of others here. There may be another way, i just can't see how they wouldn't have to state the start date of an offer you see.

GLA

Yes, no named offeror. If one came it would be inserted similar to this example on the table, just with no company name, they have to state the start of the offer period -

OFFEREE: Big Sofa Technologies Group plc
Offer period commenced: 15:35 16-Mar-2020
3p ordinary ISIN: GB00BZ1B7619 NSI: 186,250,692

GLA

If you read this RNS, it explains where the company is currently at selecta6. It's perfectly ok, we're all new at some point -

https://www.lse.co.uk/rns/EUA/statement-re-formal-sale-process-s2dz3bhew85fz5j.html

GLA

It will be MrSpeculator, you can follow things via the takeover panel, it's what it's there for -

https://www.thetakeoverpanel.org.uk/disclosure/disclosure-table

I believe the entity making the offer can remain anonymous, but details of the offer would still have to appear on the disclosure table, at least that's my take on it anyway.

GLA

If it isn't in RNS it didn't happen. There is absolutely no leaks with this one, they've played it watertight throughout.

GLA

Welcome selecta6, good luck with your investment here!

GLA

At this stage, i personally think we're looking at a showcase deal that will go down in mining history books and be talked about for many years to come.

GLA

It was clear from eurasia representing Russia at PDAC, that they want to show everyone that business can be done and highly effectively in Russia.

When this FSP is done, the whole mining world will see exactly what can be achieved in Russia as a mining minnow.

GLA

The parties who have been interested in MT for years now, will most definitely be in a hurry. It has been a long wait for them, from 2015, to get their chance at securing the asset.

I expect to hear something about MT as a minimum, sooner rather than later. NDAs have already been signed so they are keen by the look of what we're allowed to see in all of this.

GLA

Just a little song. Perhaps sing along as we patiently wait -

https://www.youtube.com/watch?v=9jK-NcRmVcw

GLA

You're very welcome tiddlor, it's a pleasure.

Fast to production, very low cost, high palladium to platinum ratio. The Last Non Consolidated Palladium Play, no other chance bidders, get it now or never get it.

Then WK, 117km2 with Tipil, already in production churning out PGMs and gold.

Throw in a couple of shrewd investment bankers on the BOD as shareholders and the head of valuations and deal making, and this is a match made in heaven imho.

P.s 2 investment banks agree so far ;)
GLA

They didn't secure stage 2 funding, that was it. Anglo seized the moment and bought them out on the cheap.

The entire thing hinged on securing the very large funding which ran into the billions.

GLA

Has been the journey here so far. The whole time there has been negative tweets, negative board posts etc.
If anyone had listened to them at the start then you know exactly what the poor people will have missed out on by now.

Unfortunately, they will continue it would seem. All any of us true shareholders can do, is counter them with hard solid facts. They can't argue against the facts here, they just tie themselves up whenever they attempt to.

We're on the final furlong, the FSP is well under way, it's simply just a matter of time. The only things really left to debate, are how much, and how long until it lands imho.

GLA

Stay safe mark, i hope you have a speedy recovery.

Best of luck with your investment here.

GLA