Member Info for mizman

BOD definitely still expecting sale to go ahead.

Christmas money being taken out as no sale this year. That's all.

Positive RNS. I reckon with the new online system, DFS approved and sale in full swing at Q1.

You can't include a one off capital item in the cash burn projection, is my point.

Sbrace, best read the RNS:

The Company's cash position (to mid-December), following expenditure on key capital items for the West Kytlim Mine, including the dragline and powerline project, stands at approximately £4 million held in sterling and dollar denominated accounts outside of Russia.

Tygra, that's an amazing strategy. Your convinced that there is no deal and won't sell today but you've written them off?

What evidence do you have for such a conviction?

Moscow Exchange to start trading platinum, palladium in conjunction with Nornickel in 2023

*MOSCOW. Dec 20 (Interfax) - Moscow Exchange intends to start trading platinum and palladium in 2023.

"We plan to launch trading in platinum and palladium in conjunction with Norilsk Nickel in 2023," Kirill Pestov, managing director of the exchange's Business Development Department, told reporters.

The exchange has traded gold and silver since 2013. Precious metals turnover almost halved year-on-year to 103.5 billion rubles in January-November 2022.

Pestov said there were some 100 precious metals market participants, among them banks, management companies and gold miners.

Palladium is not publicly traded in Russia. Nornickel this year launched trading in digital financial assets for precious metals, the first of which was palladium, on the Russian asset tokenization platform Atomyze, in which Vladimir Potanin's Interros is an investor and where the metal is traded as a new type of financial instrument that allows both purchasing and investments. The investor will be entitled to a cash claim equivalent to the market value of the palladium. Such tokens backed by Norilsk Nickel metals have been issued for industrial clients and investors on several European exchanges since 2020.

del, either way if it's not been done, BOD needs to inform the market. Hence the BOD don't necessarily need to issue RNS to say it's been submitted/completed.

RNS 30th September clearly states DFS scheduled for submission by end of the year. If that's not going to happen, then we must be informed. No news is not bad news.

"At Monchetundra the ongoing DFS study for the Loipishnune and West Nittis open pits represents an important reporting milestone for the project's development and is on schedule for submission before the end of 2022."

Mark Kenwright of Wardell Armstrong - Do Your Due Diligence

https://www.cruxinvestor.com/articles/mark-kenwright-of-wardell-armstrong

Fat fingers. News not need.

We can guess all we like about the dates of the RNS. Only the BOD knows.

I was expecting one this week. If we don't receive RNS by the next, then it means DFS submitted and all on track. If there has been a delay, the BOD would have to notify us.

So no need, is good news.

Derampers are desperate to get this sub 4p, hence the overdrive negative baseless nonsense post's this morning.

I reckon most LTH are waiting patiently for news and will not be selling.

Now that the additional EU and American sanctions don't seem to effect EUA, I have my fingers crossed for DFS news next week.

"The EU will expand the prohibition targeting new investments in the Russian energy sector by additionally prohibiting new investments in the Russian mining sector, with the exception of mining and quarrying activities involving certain critical raw materials," it said.

https://interfax.com/newsroom/top-stories/86225/

Press review: Potanin blacklisted, but Nornickel spared

Norilsk Nickel President Vladimir Potanin Stanislav Krasilnikov/TASS
Norilsk Nickel President Vladimir Potanin

MOSCOW, December 16. /TASS/.

Kommersant: US slaps sanctions on Russian magnate Potanin, but Nornickel spared
The United States has imposed financial restrictions on Vladimir Potanin, his family and his Interros holding and the commercial bank Rosbank. American citizens will now be banned from doing any business with any of them. However, the Russian tycoon’s two largest assets were spared: Potanin owns a mere 35% stake in the TCS Group, while the US Treasury included a special clause on his Norilsk Nickel, since blacklisting the company could undermine the global market for non-ferrous metals.

Potanin was among the few Russian oligarchs who, until recently, escaped the West’s harshest sanctions. Any blocking sanctions against Potanin’s largest asset could have had major implications, for his Nornickel has a 17% share in the global market of high-grade nickel, 38% in palladium, 10% in platinum, 7% in rhodium and 2% in copper and cobalt, respectively.

The latest US sanctions will hardly affect nickel prices, Alfa-Bank’s Boris Krasnozhenov presumes. According to his estimate, next year, prices might hover around $25,000 to $30,000 per metric ton, given the spike in demand among stainless steel producers and battery manufacturers in China and the rest of the world. Lawyer Mergen Doraev believes that the exception the US made for Nornickel means that Washington would hate to excessively impact the nickel market.

Meanwhile, the sanctions against Potanin may intensify demands for him to step down as Rusal’s president. In late October, Rusal filed a lawsuit against Potanin in London accusing him of harming shareholders as a result of his leadership. The aluminum giant also demanded that Potanin should resign, insisting on an independent replacement. Delcredere’s lawyer Artyom Kasumyan argues that Nornickel could minimize risks by changing its corporate management structure, where sanctioned managers should play a lesser role

350% increase in production in an unprofitable mine is not sufficient to reassure the market. What is the monetary and time gap to profitability?

Give us clear answers and the market will respond.

Putin seeking ties with Asia, Africa and Latin America to overcome financial impact of sanctions
Vladimir Putin has said that Russia will try to overcome the financial impact of sanctions by selling gas to its eastern neighbours.

In a televised speech he said Russia would develop its economic ties with countries in Asia, Africa and Latin America after the west introduced sanctions following the invasion of Ukraine.

In the televised meeting with officials on Thursday, he was told that Russia’s GDP was expected to fall by 2.5% in 2022.

“We will remove restrictions in logistics and finance. Let me remind you that by introducing sanctions, western countries were trying to push Russia to the periphery of world development. But we will never take the route of self-isolation,” he said, in quotes published by the Reuters news agency.

“On the contrary, we are broadening, and will broaden, cooperation with all who have an interest in that.”
https://www.google.com/amp/s/amp.theguardian.com/world/live/2022/dec/15/russia-ukraine-war-live-kursk-airbase-in-russia-hit-ukraine-official-claims-canada-resumes-nord-stream-sanctions

Best to be merciful and put it out of its misery.

As for the shaking leg bandit, hope he never sleeps easy.

If the EU are foolish enough to go ahead with sanctions, it's one more step towards the de-industrialisation of Europe.

Impact on EUA will be to put up metal prices and make the sale more attractive.

The commission declined to comment.

However, a senior EU official told a conference in Brussels that countries would have to widen sanctions to goods not traditionally used by Russia’s armed forces.

Denis Redonnet, chief enforcement officer of the commission, said: “Russia is adapting its war economy?.?.?.?to imports of lower-quality items, cannibalising lower-end technology.”

He said the EU had banned goods covering about 30 per cent of its €99bn annual pre-war exports to Russia.

Gary Nagle, Glencore chief executive, said on Tuesday the company would “continue to monitor and take any appropriate actions regarding sanctions” that might affect its assets.

He confirmed that Glencore still held its stake in EN+, describing it as a “passive shareholder” with “no board representation. Earlier this year, Glencore reviewed the investment, but “given the circumstances we were unable to exit that investment”, Nagle said.

The EU’s previous measures, along with those by the US, UK and other western allies, target scores of banks, defence companies, oil and gas producers and other critical parts of the country’s economy, as well as hundreds of government officials, oligarchs and propagandists. They have already helped to push Russia’s economy into recession.

The exact reach of the mining investment ban is still being defined, one of the people said, adding that it was likely to include derogations for certain products. Russia is a critical supplier to global markets of some metals such as titanium and Palladium