The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
I feel the authorities have a good excuse not to impose a haircut on EUA as Montmuzard points out. I think they will be satisfied with a 15% exit tax. We can live with that. Don’t blame MM for taking the worst case!
Excellent post, Montmuzard. I was thinking the same that the Russian State will want to encourage, not deter investment and showcase EUA as an example of what smaller companies can achieve in Russia. The authorities have been supportive so far
Like Spud, I’d settle for $50-55m and let LG have the remaining billions. Any chance he’ll try a hostile takeover!? - Maybe a stealth raid with inside support is more his style. You do take such thoughts the more seriously, the longer we go without news. I’m sure I’m not suggesting any course of action that Larry has not already considered! I do think it likely he opposed the RTO
early last year. Probably he is still opposing it, as leverage in negotiations with LOGP and their lack of cash. I think more onerous terms from a funder, considering how strong our case is, would be preferable to any likely terms proposed by LG but maybe I do the man an injustice.
Well said LLR. Agree with everything you say except that the SMO was in reality, witness Bucha +++, a straightforward murderous onslaught on the Ukrainian people.
Anybody tried to get odds from William Hill etc on who will be mining West Kytlim this year?
You ask them and they get an expert on the job right away apparently!
EUA? NN? Other Russian company or group? Hongkong-based party or group?
Just a bit of light relief to soften the all-pervading gloom of our down-trodden, downcast and down-beat fellow investors. 😃 😊 from ☹️ 😔 would be 👍
Magnum, I cannot disagree with that. I have little doubt that at some stage an offer was made which the majority would have accepted then and which an overwhelming majority would accept now. I also remember the BoD saying that they expected a very quick and peaceful settlement to the Ukraine crisis in the weeks leading up to the invasion. It is just possible they might have sold in time if they had heeded repeated US intelligence warnings but then even the Ukrainians themselves did not believe an invasion would happen. We just don’t know what the offer was. Maybe it would be a source of embarrassment to the BoD today, if revealed.
Magnum, maybe buyers are wary of making any such leaks since EUA reserve the right to exclude any such from the sale. Any one serious about buying these assets would have to bear that in mind. I definitely remember reading this in an RNS a long time ago.
Dattabase, did you have a look at the “Do your own Valuation” by GMF78 in early 2020?
Nickel, Copper, Iridium and Gold are now above the assumed prices. Palladium and Rhodium are much lower, admittedly. It does not include WK, nor a lot of what we have now. It ranges from 46P-236P under various assumptions. Even in the present climate, the BoD will not accept, nor will they be forced to accept, 46P. So your dream of 50P is a very modest one indeed! It would be utter humiliation for the BoD to swallow that 46P pill, especially after two years of wasted effort. It is absolutely true: if it was going to go for that price it would be long gone by now.
No fire sale to Potanin, no sir! He has too many rivals at the very top for that to be allowed to happen. Mind you, Potanin would probably regard 70P as a fire sale price for all those assets that we know, and maybe don’t know, about. Will the Hongkong parties see him off? Let’s hope so!
For the Board to sell all for 50P would be a bitter pill to swallow although most here would be happy with that.
The buyer would almost certainly be getting the bargain of a life time. That would be guaranteed if metal prices reach predicted levels in the next decade. The thing is the war in Ukraine and the economic recovery of China will take too long. The BoD must throw it open to the highest bidder and take their chances. Serious and genuine competition should see something (well?) above 50P. Can a world player let a rival in at that figure? I don’t think so. If they could have got more before the war, too bad! You can’t bury yourself in grief and dispair, like Richard and others!
Maybe LG has offered £6m but on onerous terms, which has split the major shareholders down the middle - we know that LG as a profit-orientated business man (to put it as politely as possible) would regard it as quite normal to proceed in this way. Possibly some are minded to accept his money. Divide and conquer etc. On the other hand, however, he would have to be certain that the LU is in the bag before parting with the money. My musings could be wide of the mark, of course.
Indeed, SM, Swizz’s latest views would be welcome. These large share transactions every so often are a concern if they are going to LG. Could there be a difference of views among the large shareholders about how to proceed, for whatever reason? Perhaps they disagree on the level of acceptable settlement - or whether to take less sooner than more later? Just some thoughts.
Would it be newsworthy if the 20m shares traded yesterday are now in LG’s hands?
Or is that only to be expected? The alignment process is taking rather a long time with too much deference being shown to LG in my opinion. I would have expected stiffer resistance and solidarity among all major shareholders, to put it mildly, and news about our ECT case by now.
Mac, listen out for the unfair questions like why murderers, rapists and other untrained personnel are being conscripted to fight in Ukraine.
Pacer, going to the Supreme Court of the Russian Federation is not low-profile keeping.
Does anyone know why there are so few speakers of Tatar in the Crimea today? I don’t expect an answer from Leningradski and I’m definitely not putting all the blame on Catherine the Great. The Ukrainians were liberal enough to accord the language special minority status, unlike previous rulers from Catherine to (and above all) Stalin.
Getting facts about Crimea straight:
According to the survey, Russian is used at home by 43–46% of the population of the country (in other words, a similar proportion to Ukrainian) and Russophones made a majority of the population in Eastern and Southern regions of Ukraine: Autonomous Republic of Crimea — 77% of the population. ( 11% speak Tartar (a Turkic language) as their first language)
Compare Belarus with 41.5% with Russian as their mother tongue - excuse for empire building?
Ukraine is not a NATO member - yet. Russia invaded Ukraine to stop Ukraine joining, is your point of view, BoB?
I can and do argue with Putin’s facts. You don’t, you just swallow them.
Anyone who does that is clearly full of crap themselves, as abundantly illustrated in your posts. I am as good a conservative as Ben Wallace, by the way.
It is abundantly clear that some people think Putin, turned historian in recent years with a 5000 word essay on the history of Ukraine and a Western anti-Russia plot (ongoing since the 17C no less) is a convincing historian - it is compulsory reading for the Armed Forces, by the way. Maybe Putin will be promoted one day to the Russian Academy of Sciences as a noted historian of Mother Russia.