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Alfa - so with all 4 kilns going full beans, we 'might' be able to produce enough V for this single project. That's quite astonishing. It seems to me that within a very short period of time there could easily be several such projects on the go around the world which is going to suck up all the supply and some.
MTJK - no worries. A key point to take away is that if the first phase needs to be built by December 2020 then that seems to me a ridiculously tight deadline given that the tender documents have not even been issued yet ('imminent' could be well into the New Year). BMN, already being on the ground with Eskom with an SA presence really is in the pounds seats.
I also expect once the concept of electrolyte rental has proved itself as a viable model, finance companies will step in to provide the finance. I can't think that BMN would want or be able to fund it themselves as it scales up.
@Serenus - as soon as BMN lists on a recognised stock exchange - whether in UK or elsewhere then IHT exemption is lost immediately - it does not matter how long you have held them for. I suppose then if a listing in on the cards then it would be a good time to die beforehand - or perhaps consider gifting them before they list. Whilst unquoted, they may qualify for CGT holdover relief as well.
@Serenus - the authority is S105 Inheritance Act 1984. Essentially the share needs to be 'unquoted'. A quoted share is one listed on a 'recognised stock exchange' - which could be anywhere in the world. The question then is JSE a recognised stock exchange? I expect the JSE Main Board is listed, but the Alt-X probably not. This appears to be confirmed by the HMRC list of 'designated recognised stock exchanges'. If it is the case that IHT exemption is lost then it may be that a SIPP is a better IHT planning vehicle.
With major powers like USA and China looking to pile into Africa for their strategic geopolitical interests it seems like we have a modern day Scramble for Africa. What with this and regular announcements by big corporates of massive investments in 'the next big thing' - battery storage it seems to me that we must surely be in the crosshairs for a takeover. I expect that a number of serious approaches have been made to the BOD already. A serious takeover bid is surely just a matter of time.