Member Info for Makeabundle

The shovelling doesn't start until 'visible' rather than risible offers have been made and accepted. How many here would be delighted if they knew, for example, that the BoD had rejected 55P a share from NN?

Of course NN would be thrilled if they could buy the lot at that price and then have Poaz to add to Nyud with further glee over PGM prices 3-5 years from now. Give the Bod - and yourselves - a break!

If the CVL motion is not passed by BEY shareholders, would there still be an opportunity for a RTO as a possible alternative way forward? The Government would hardly welcome such a merger and the prospect of paying out huge sums under the ECT. They might want to settle pretty sharpish with LOGP before LG & Co get ideas. Can anyone imagine the constitution being changed or invoked in some way to allow the Government to welsh on any future award?

What a catastrophe for foreign investment in Ireland! Varadkar and Martin would certainly baulk at that - obviously cabbage-patch Ryan might not but he will be neither here nor there at that stage. Still, he may favour a deal with LOGP if only to thwart LG & Co! Who knows, just some thoughts.

Mind you, if LG thought that 40m held in escrow would do the trick, he might offer it if he can be persuaded by his lawyers that he has a foolproof case. But the powers-that-be in LOGP would turn him down - ' You can't be serious, Larry' - (as McEnroe used to say). In any case they would first want to hear what Ireland has to offer, if anything, at this stage. Any other opinions on this? I doubt it will happen but stranger things have come to pass in the murky world of finance at the top level.

If not a rumour, please explain your comment. Is it not a bit late in the day for that since it was apparently rejected earlier this year by BEY? I think LOGP prefer to sail their own ship with Boldy at the helm - probably wise too.

Have they all been on the phone to Ladbroke's - and liked what they heard?

Low visibility may be result of low offers - a message to would-be purchasers that they need to stand taller to be taken notice of!

Mamms, you could get a quote from Ladbrokes on whether LOGP will get compensation (whether by settlement or ECT).

You might be surprised how little it would take to cover most or all of your initial stake in the company!

When will we hear details of LOGP's claim? Maybe not until they know the maximum the government is likely to offer? I suppose they will have to release it by the AGM date in August. A claim of 120m - accept 60-70m with big discount for prompt payment by, say, Christmas? I do hope the big boys would be satisfied with that.

I thought that person was in practice morning noon and night - wasting their life away in an anonymous chat room on LSE.

I would rephrase that: why have we such cowards in the government today? I cannot get my head round the fact that the government may have to pay out a colossal sum of money to BEY/LOGP to ensure that indigenous oil and gas will not be there to provide (a) security for the future in a very uncertain world (b) overall reduction in world emissions for the next two decades and more (c) employment in the SW of Ireland (d) considerable revenue to help pay for the transition which is going to be extremely expensive. It is quite shameful when you consider the sane, balanced approach adopted by Norway. No 3% of Norwegians are going to stop the Norwegian government doing precisely the right thing.

Absolutely right. You get Nyud and the rest is yours. So it is a very important consideration in the mind of any buyer and that includes NN. I said a long time ago the buyer with least need of a DFS was NN for very obvious reasons. They are playing hard ball - that is why a DFS is so important to give confidence to other bidders, to drive the price up and persuade NN to offer more. The war has slowed and is still slowing things down, it would seem. We may have to wait a fair while yet until internal turmoil, if not the war, is over.

I agree. Also imagine press coverage of (a) high-profile case(s) two years down the line and concurrent power outages. Will people start throwing rotten eggs at Varadkar and Martin, our two mice men?

The Irish Government have a lot more to lose than LOGP. Can they afford to take the risk of having to pay enormous legal fees + the kind of compensation Rockhopper received? By comparison, LOGP are not on a hiding to nothing. I do not think the government can possibly think they have a 50/50 chance of winning. The alacrity with which LOGP has been approached by several firms dispels that mistaken computation.

It's a very good point you make. Why would you renounce your back-up plan and give up leverage in ongoing negotiations. JN has retired - his job is as good as done but it might take a few weeks or even months to finalise. I see a certain person is much exercised with the lack of reference to litigation in the AR. How remiss of the Nomad and CS!!

I am not an accountant. LB, what is the exact status of loans to related parties? If such loans were received back, that would be an extra 28m on the books as cash - or not? Thanks in advance for a reply from LB or any accountant reading this.

Exactly that, just your opinion last week:

EI wonder if they will go the popular aim route, for failing companies, and announce that they will be unable to provide the annual accounts on time? I cannot honestly think how they will get the beancounters to sign off on the going concern element anyway, since they are running on fumes, assuming there's anything at all left in the tank, and even without paying JN his generous salary into the future, they have a bunch of other parasites to pay on the bod. Seems either a highly dilutive raise needs to be done, or there won't be an EUA next year. Just my opinion.

Continuation of previous:

2 For avoidance of doubt, the concentrate can be sold as and when required.

3 Sanctions did not prevent a proper audit

4 The Bod are preserving cash

5 Manic posters should be aware that apoplexy is a real and present danger to health

6 The shovels are ready - I suggest they deliver the coup-de-grace and bury you-know-who and all associates as a preliminary measure!

7 Well done BoD for not being bullied into accepting 60-70P per share. West Kytlim is certainly the jewel in the crown in that regard.

1Low visibility as to date of sale matches up with the turmoil in Russia - it definitely does not refer to NN not being on the horizon!!

I did the same over the last few months for the same reason. LOGP proposed a merger earlier this year but nothing came of it. I notice that there is no mention today in the RNS that the BoD will continue with efforts to raise finance right up until the EGM. What would happen in August or September if BEY are no longer with us and Ryan offers LOGP the LU as a way out for him and Ireland to avoid settlement or continuing litigation with them. He might be desperate enough to try it but maybe it is not even legally possible at that stage. Breathing-taking arrogance of course but he is not short of that quality. Of course LG etc would be delighted to have the extra ammunition to use in their case against him! Ryan is on a sticky wicket for sure - is he going to be bounced out in short order or caught on the long on boundary? More seriously, I would have thought there was a majority of BEY shareholders in favour of a merger. Who would be against it except LG?

Are Boldy's demands too steep? Who knows.

That's an absolute Ryan-shredding combination. Your 50/50 or less rating for success strikes me as downright pessimistic.

Ashhurst have not mentioned the Rockhopper case as a recent success in their literature but I take it they had some share of the 20% fee for obtaining, or already having on their books, the services of counsel with special expertise in the required areas.