Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
There would not be a bidding war if ggp have first right of refusal. Its just if NEM put a price too high on their 70% and we can't afford it then it will go to open market I guess which may or may not trigger a bidding war.
I have hypothesised before that telfer isn't worth anything as its value will have been written down over many years. It doesn't owe anything on the books and is a liability if it has to be decommissioned. NEM will be able to remove financial provision from their books even if they give it away it is worth a lot to their financial accounting and would help make their $2bn savings if they do not have to decommission.
GGP however have other options if it doesn't take on Telfer. They could potentially build processing on site. Or alternatively process the ore at Rio Tinto's Winu plant. Further away than telfer but not ridiculous distances.
To me the solution is that GGP buys 70% of havieron back, or JV's with either Wyloo or Rio to make it affordable. If JV with Wyloo or GGP buys the 70% then please throw in telfer depending on economics. If JV with Rio then they can process the ore and we don't need telfer. GGP has leverage imo for various scenarios.
Or Rio buy the lot including GGPs 30% and process at Winu and we get a special divi.
Incredible mismanagement at HZM unfortunately. I was lucky to get out with profit last year as I was getting a bad feeling about it. Similar to RMM.
Very sad for the holders, I just hope something can be done that doesn't obliterate them.
My thoughts FWIW, are if THG isn't likely to either re-list or duel list on NASDAQ, then there needs to be a bit of a corporate reshuffle.
It may be a good move and breathe confidence if Lord Allen retires, MM becomes Exec chairman and A N Other becomes CEO, someone with experience and well regarded by the city, someone with strong corporate governance and a track record of generating profits and growth.
Something needs to happen imo. The current state seems to be stagnant and does not reflect true value based on cash at hand and turnover as a whole.
Are the rents at market prices or inflated?
If this was a private company and MM was owner of the buildings and charging THG then fair enough. It's a good way to extract funds from the business and perhaps into his pension fund as commercial property can be held. Likely a QNUPS/QROPS.
Smells a bit to me that this is a PLC and the CEO owns the buildings.
HSBC sells division: (not as relevant as polymetal, but still movement in business offloads)
Russian President Vladimir Putin on Monday signed a decree allowing HSBC Holdings plc to sell 100% of shares of its Russian subsidiary to Expobank JSC, according to the document posted on the country's official portal of legal acts.
In June 2022, HSBC announced that it agreed to sell its Russian unit to Expobank. However, Russian authorities have been progressively tightening the rules for the sale of foreign assets, while banks have been forced to obtain Putin's approval for each such transaction.
Previously, the British lender stated that the planned sale of its Russian business had resulted in a loss of $300 million.
So no word yet from the company or YJ as to what is happening with the clearing works? If this isn't care and maintenance and unless it's a third party testing and covered by NDA then we should be informed.
Perhaps this isn't mining. Being optimistic, perhaps it is a third party (potential buyer) bulk testing/sampling to prove up a value, this could be under the infamous NDA's which is why we have not been informed......if it's something else then the company have a duty to inform us imo.
Deluded if anyone thinks waiting 1-2 years after the war will change the valuation. We are where we are. The opportunity prior to war was missed during the FSP. Possibly greed driven.
Eioei, how do you know that if an EGM is called there isn’t a plan? Just because it hasn’t been shared with you on here doesn’t mean that no one has a plan.
If the tax case was the reason for the delay selling the concentrate, and that would be reasonable to assume, then we should be receiving news ‘shortly’ 😆 on its sale.
Perhaps the Queeld situation does in effect trigger a timer on the situation. We know when they can claim transfer of the certificates if no one challenges and EUA were quite right not to issue new ones without indemnity.
I would be very surprised if Queeld just get the certificates and patiently wait like the rest of us. Not sure on their situation but I get the impression they may be in a distressed financial situation due to sanctions. I don’t know for sure as I haven’t researched them.
But if they are in need of funds they could either sell on the open market for ever lower amounts or challenge the company via EGM and take control to try and realise a higher price that could be acceptable to them and us, but maybe not to the current BOD.
Looks like the clock is ticking either way. The BOD would be wise to get us shareholders onside before then and provide a comprehensive update that has so far eluded us. They weren’t shy in asking for support before. Look where that got us, SP destroyed.
The shareholders are the owners of the company. However, certain shareholders (the BOD) can decide if any offer is appropriate or not to put to other shareholders.
The power is badly skewed in favour of a BOD who may not have a realistic view of what would be a reasonable offer for the rest of us.
It may well be that queeld call a EGM when they get their share certificates, kick out the BOD and replace with people they know can get the job done. Who knows.
I’m on the fence about if queeld could be our saviours or executioners.
Interesting that the BOD would make such a stipulation.
Reinforcing my opinion that the BOD is the barrier.
Times have changed. Let the shareholders decide what is a reasonable offer. If not reasonable it will be rejected by the majority. If reasonable accepted. Not difficult.
Beast, I think the only way out of the barrier between us shareholders, the BOD, and the potential buyer is if as you say there was a leak from the buyer forcing the hand of the BOD to put the offer to us. This may break a NDA but I’ve never been too convinced there are any since the FSP collapsed.
Spikey, you do not know if a binding offer was presented to the BOD during FSP. There may have been, but the BOD might not have liked it so it was never put forward to us.
The BOD are the barrier imo. Their price is possibly not aligned necessarily with our own ideas of acceptable. 46p might have been offered for example, but the BOD didn’t like it so didn’t put it forward as a recommendation to be voted on. All conjecture but my suspicion is non alignment with us or realistic in view of value.
So in your world it isn’t legitimate for a non trading, not functioning company to be suspended? This company is for sale but not in a FSP. This means it is not in a formal sale process. So what is the business doing to be functional?
If not functional I see no legitimate reason for it NOT to be suspended.
It’s clear you are fearful of such a situation maybe due to locking you in if suspended. Perhaps you got in very early and still in profit. But many like me are already locked in having bought shares at a lot higher levels than today.
The farce cannot go on and I believe shareholders should take a stand. If any offers have been received and still valid then the BOD should put these to shareholder vote. But clearly from yellow jersey response, EUA are waiting for a buyer to ‘emerge’.
Is that what this business does? Waits? Not a very good or valid business strategy imo.
You don’t get it do you? It’s not about not going my way, there are plenty of functional companies who’s sp ‘isn’t going my way’ but I would not advocate their suspension.
This is a non functioning business, it is not mining, exploring or in a FSP.
Twist things how you like. You always jump to the defence of the BOD. They do not deserve cheerleaders.
Are you taking the p155? Chinese new year??!? Any other weak excuses? The same ones get trotted out every year.
The problem as I see it is that this is not a functioning company. It is also not in a FSP. So what is it exactly?
No CEO which is bad for governance no matter how much the likes of MAC claim it’s a good thing to have no ceo. Get real.
So not a functioning company. Therefore to me should be suspended as they must be on iffy ground with London Stock Exchange compliance.
Further, yes the BOD hold substantial shares in the company. However, I do not believe they are aligned with retail shareholders. The BOD are likely holding out for an unrealistic price due to greed and wanting life changing payouts for retirement. Us retail investors, I hope most agree, just want a reasonable return on their investment one way or another.
Do not kid ourselves that the BOD are working on our behalf. The lack of communication is evidence of how we retail shareholders are regarded.