Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Maybe so regarding the figures but at least we can see where the spend has been (Hi Toffers) and the auditor will need to sign off the going concern basis so if it’s positive we may find out what the strategy for the concentrate is, whether there’s an ability to raise or is there access to debt financing if needed. The directors report should also outline risks so maybe some info on political risks and anything about the cases? Plus the events after the reporting period should only reflect what’s already been RNS’d but these are sometimes worded slightly differently.
No evidence to link to EUA but this is the Governor of Murmansk talking about mining and processing JV’s being discussed with China earlier today:
Chibis voiced the topics of discussion at a business forum in China
Governor of the Murmansk region Andrey Chibis told what was discussed at the plenary session of the Russian-Chinese business forum.
"Russian Prime Minister Mikhail Vladimirovich Mishustin listed many promising areas for increasing cooperation with China. There are growth points in almost all industries. Particular emphasis was placed on the development of the Northern Sea Route and new joint ventures, including mining and processing," Чибис написал на социальных сетях.
He noted that the Murmansk region has a rich mineral resource base. Thus, 30% of all known minerals are concentrated in the bowels of the region; 75% of the chemical elements of the Mendeleev table; more than 60 large explored deposits.
"Also being the beginning of the Northern Sea Route and realizing its potential, we fully support the course to ensure its growth," the head of the region added.
Recall that the Governor of the Arctic Andrey Chibis works in China as part of the Russian delegation. He flew to Shanghai to participate in the Russian-Chinese forum.
https://m.severpost.ru/read/153976/
Not sure how often these records are updated Del - could be annually when accounts are filed locally but I don’t know that for sure.
https://companies.rbc.ru/persons/inn/244312112854/#staff
Article refers to increased demand from China and continuing supply issues due to power outages in South Africa.
https://www.ft.com/content/01352385-372f-4b79-9446-a03c518ba28a
From Russian media…
China announced the visit of its special representative to Russia and Ukraine
Chinese Foreign Ministry: Special Representative Li Hui will go to Europe, including Russia and Ukraine
China's Special Representative for Eurasian Affairs Li Hui will go to Europe on May 15, including Russia and Ukraine. The visit was announced by the official representative of the Ministry of Foreign Affairs of the People's Republic of China Wang Wenbin during a briefing, the Central Television of China (CCTV) reports.
The representative of the Chinese Foreign Ministry noted that Li Hui would visit Russia, Ukraine, Poland, France and Germany to discuss the political settlement of the Ukrainian crisis with each of these parties.
Wang Wenbin stressed that since the beginning of the Ukrainian crisis, China has always "took an objective and impartial position, actively promoting peace negotiations."
Earlier, Chinese President Xi Jinping, following a conversation with Ukrainian President Vladimir Zelensky, announced the imminent arrival of his representative on a visit to Ukraine and other countries for in-depth consultations for a peaceful settlement. On April 26, it became known that the delegation would be headed by Li Hui.
https://m.lenta.ru/news/2023/05/12/spec_vizit/
Having different opinions is one thing. Making claims on a public forum such as the company has lied about the group cash balances is another. It’s quite serious in my view as cash balances have a material impact on the share price.
I notice no reply from Toffers to my earlier question so I’ll take that as he understands that point very well and is unwilling to clarify if he is claiming that the BoD has i) told the truth about the cash balances and therefore stolen the $35m which he says is in a Cypriot bank account or ii) the company had lied about the cash balances and has access to $35m which is in a Cypriot bank account.
I won’t raise this again as it’s clogging up the BB but the lack of a direct answer to my question from Toffers will tell its own story.
Offshore accounts and outside the control of the company so “theft of funds” by the directors or Offshore accounts and in the control of the company so “misleading shareholders about the real group cash balances”. Which one are your going with?
Toffers, on the basis that group cash balances were last reported as being £3m, your statement that the BoD has moved $35m out of the group needs clarifying.
What exactly are you claiming:
That the BoD have stolen the funds
Or
That the BoD have mislead shareholders about available cash and the actual balance is significantly higher than they have reported to shareholders
It can only be one of the two so which one are you putting your name to?
“$35 mill meant for the Rosgeo JV is already offshore in a bank account in Cyprus I believe”
Just to be clear, are you saying that the BoD has moved $35m outside of the control group bank accounts and lied to shareholders about how much cash the group has?
Morning all. Looks like there was a meeting between the Governor or Murmansk and the Consul General of China in St Petersburg last week.
https://invest.nashsever51.ru/list_item/news/gubernator-murmanskoy-oblasti-provel-vstrechu-s-genkonsulom-knr-v-peterburge
Northern Sea Route forming the basis of trade between Murmansk and China:
“The strategic direction and global task is to realize the transit potential of the Northern Sea Route. The leaders of our countries agreed to establish a joint working body for its development.”
Export of metals is part of this trade:
“The basis of exports is made up of major international players - producers of iron ore concentrate, nickel, fish and seafood. Floating structures, chemical products, technical textile materials, metals, equipment, electric machines and tools are imported," commented Andrey Chibis.”
Potential to obtain equipment from China:
“Among the strategically important is cooperation in technological issues: the governor noted that the largest metallurgical and mining companies of the Murmansk region are increasing cooperation with Chinese partners in terms of equipment for industrial projects and services.”
Obviously not EUA specific or exciting until there’s some actual news but might show some potential in terms of cooperation with China.
Snippet from a conversation between the Governor or Murmansk and a member of Parliament - article dated today.
“We are also starting to work actively with the eastern countries - China and India, for example," said Andrei Chibis.”
https://invest.nashsever51.ru/list_item/news/deputat-gosudumy-rf-arefev-vysoko-otsenil-ekonomicheskoe-razvitie-i-potentsial-murmanskoy-oblasti
No idea what the nature of this work is - could be absolutely anything but at least there’s some cooperation between these countries and Murmansk.
Other points of discussion were the potential of NN’s lithium JV and development of the port for the Northern Sea Route.
I don’t pretend to know one way or another but if the plan is to keep WK, then I’d be expecting to hear about refining arrangements very soon.
I guess it will come out when the accounts are issued as they’ll have to outline the cash flow position for the next 12 months.
If WK can meet our needs and refining arrangements are in place that that would be even better than selling.