Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
"The Guardian" suggests that the United States should reconsider its support for Ukraine's efforts to reclaim lost territories.
The article, penned by international relations expert Stephen Wertheim, argues that the U.S. should prioritize assisting Ukraine in retaining its currently controlled territories and exercise extreme caution regarding Kiev's ambitions to recover any land. This approach should carefully weigh the potential loss of life, financial costs, and the risk of escalating tensions with Russia.
The author firmly believes that President Biden should convey to Kiev that the U.S. will not back their attempts to regain control of Crimea. He emphasizes that the peace process can and should commence even before all territorial losses are restored to Ukraine, as achieving Kiev's goal is deemed unlikely. In summary, Wertheim calls upon Washington to promote the initiation of negotiations and the resolution of the conflict.
Database. The alternative to peace and normalisation is escalation. I don't think many in the Global South or increasingly European countries favour escalation and possible conflict between NATO and Russia.
On the battle ground, the Ukrainian offensive has failed. Those predominantly Russian speaking territories are not going back to Ukraine.
Peace treaty and normalisation of security and economy is the best way forward.
My thoughts are changing on the need to complete the sale in 2023. It's based on the change in Political environment in America. If Jim Jordan gets elected as Speaker of the house, then he will oppose any further aid to Ukraine.
This will force Ukraine to the negotiations and end the war, with a viable peace plan. Sanctions will be lifted and business environment return to normal around end of H1 24. Assets sales would then be a lot more attractive outside of BRICS.
But I suspect the BOD will try and get it done this year.
Update on BP production and profitability is needed asap. Cashflow is dire and sales of concentrate must be poor that wages could not be paid. Indicates still to achieve breakeven.
good news.
the government has approved a list of countries whose banks will be able to participate in currency trading in russia
foreign credit organizations and brokers from friendly and neutral countries will be allowed to trade on the russian foreign exchange market and on the market for derivative financial instruments. an order approving the list of such states was signed by prime minister mikhail mishustin.
the list includes more than 30 countries. these are armenia, azerbaijan, belarus, kyrgyzstan, tajikistan, turkmenistan, uzbekistan, algeria, bangladesh, bahrain, brazil, venezuela, vietnam, egypt, india, indonesia, iran, kazakhstan, qatar, china, cuba, malaysia, morocco, mongolia, united arab emirates, oman, ****stan, saudi arabia, serbia, thailand, turkey, south african republic.
the resolution was prepared to implement the new norms of the federal law "on organized trading" adopted in july 2023. these norms are aimed at increasing the efficiency of the mechanism of direct conversion of national currencies of friendly and neutral countries and the formation of direct quotations to the ruble to meet the demand of the russian economy for settlements in the national currency.
And such behavior may be allowed in Zimbabwe, where the company operates, but European values prohibit such behavior. This situation is at least curious considering that copper ore is extracted at the Baiţa Mine, an extremely important raw material in these economic conditions. by the way
The union requests that the Ministry of Economy and the National Agency for Mineral Resources, an agency subordinate to the Government and coordinated by the Prime Minister, verify compliance with the conditions for granting the license by Vast Băiţa Plai SA, which exploits copper ores on the Băiţa Plai platform and which is owned by the British company Vast Resources PLC and it is equally necessary to verify the behavior of Vast Băiţa Plai SA regarding the payment of taxes and social contributions withheld from employees to the state budget.
"We appeal to the political class in Romania and to the institutions empowered to sanction such behavior because such behavior on the part of investors is not only immoral, but at the same time it is not legal. The lack of concern in starting the process of negotiating a collective labor
Spontaneous protest at Mine Baița! Miners refuse to enter the mine due to unfulfilled promises: 'We appeal to the Romanian political class'
Author: Alexandra Cruceru, Editor
Published: 21/09/2023 09:57
Updated: 21/09/2023 10:50
Photo source: blacknews.ro
coal mine miners
The miners from the Băiţa Mine, Bihor county, started a spontaneous protest on Thursday and refuse to go to work, because the promises regarding the payment of salary rights were not respected by the employer. The miners' union states that such delays occur regularly and asks the Ministry of Economy and the National Agency for Mineral Resources to verify compliance with the conditions for granting the license by Vast Băiţa Plai SA, which exploits copper ores on the Băiţa Plai platform.
"The Mine Băiţa union, a union established at the level of the employer Vast Băiţa Plai SA, a union affiliated to the Federation of Trade Unions in Romania, a member federation of the National Bank of Romania, draws attention to the fact that the employer periodically registers arrears in the payment of the wage rights of miners and auxiliary staff. In this context, a new spontaneous protest is taking place at the Baiţa Mine, where the employees refuse to enter the mine because the promise to pay the outstanding salaries on September 20, 2023 was violated by the company's management", it is stated in a statement sent, on Thursday, by the NBS.
Thus, the miners from the second shift from the Baiţa Mine met in the yard of the company and the people decided to refuse to enter the shaft, because the owner of the company Vast Baiţa did not keep his promise to transfer the outstanding monetary rights until September 20 .
According to the quoted source, the promise dates back to Monday, when another spontaneous protest was closed with this pledge.
"Even if it is not a protest organized by the union, the union that represents the vast majority of employees at the Băiţa Mine got involved in order to resolve the protest. Thus, the president of the union Nicolae Dragoşel tried to contact the national manager of the company, Nicolae Turdeanu, but to no avail", the trade unionists mention.
The employees of the mine say that they have not received their salary rights
They add that, although on Monday representatives of Vast Resources PLC sent a document communicating the fact that salary rights would be paid to employees on September 20, the mine's employees did not receive their salary rights. At the same time, the meal vouchers were not distributed to the employees.
"We draw attention to the fact that the conflict situation is far from being resolved considering that the delays in the payment of salary rights and meal vouchers are periodic, almost monthly the employer registers delays in the payment of salary rights. The management of the company must understand that in the European Union there are a number of social rights that must be respected, and su
US fails to get Zelensky to negotiate with Russia
"The United States is unable to convince Zelensky to negotiate with Russia"
The paths of the West and Zelensky are increasingly diverging; no one wants to give him money anymore, Asia Times writes:
“Zelensky may convince the US Congress to allocate more money for the fighting. But this may be his last victory. He may receive a reduced package and be sent away. And he is unlikely to return.
There was no real breakthrough during the counteroffensive, and Ukraine used up most of its strategic reserves. This included the loss of Western weapons and many NATO-trained soldiers.
Reports say that Ukraine is losing more than a thousand people a day, sometimes around two thousand, and that doesn't add up to much. The United States and some of its NATO partners have made it clear that they do not approve of Ukraine's military tactics, although much of it has been driven by NATO computer modeling and strong intelligence support."
#source
Asia Times
BFTurd
I guess you have problems with reading and basic maths.
Financial position
The Company's current cash assets at 30 June 2023 including cash held in bank accounts (£0.4 million) and US treasury notes (£1.54 million) totalled £1.94 million. The value of unsold concentrate within Inventories at 30 June 2023 was approximately £3.5 million. In addition, the Company expects to receive VAT refunds of circa £1.5 million.
The Company's cash reserves are held in USD and GBP accounts outside of Russia and therefore not directly or indirectly exposed to Rouble foreign exchange gains or losses against other major hard currencies.