The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Good to have court cases and tax on WK production sorted, Q and M case not 100% over yet but not worth worrying about currently.
We had an RNS over the WUP case ending over a amtter of circa £100k, surprised we haven't had an RNS on the tax matter which is bigger news but then the matter was hardly brought to our attention and was buried in annual results.
The BOD have been keen to update on cash position, the £1.65m provision made for the tax case should be freed up now, would have thought it was worth a mention.
Being realistic (as opposed to negative) the previous increased tax position at WK with Pt prices having dropped and lower grades being processed was making WK less saleable, a 13% odd drop in tax helps.
My research goes very deep here.
So DR, how much of KK do EUA own if it's not 68%?
The information that came here via the TG group was the application for the T area had switched from being applied for by TGK who own 100% of MT and the flanks to KK who own 100% of KK.
Far from triggered DR, just some tongue in cheek taunting.
The point being the T part is 68% EUA's via KK, the NK part is 80% EUA's via TGK.
Makes disposing of NKT harder unless a potential buyer wants to buy KK and TGK.
We have 2 exploration licences covering one ore body at NKT, owned by different companies, KK and TGK.
The T part was applied for to fully take in the NKT ore body, the previous flanks licence didn't cover all the ore body.
Hi Del,
That is what the hearing is seeking to do, to over rule to decissions made in 3 prior hearings that went against KK, but not a judgement of what the court has decided and ruled on.
Hopefully it will all be sorted in KK's favour but it seems it hasn't been ruled on yet.
Hi slowlyslowly,
I've translated the entry for 2/11/23 and haven't seen any reference to follow up actions.
The link is the history of the case, started 4/9/22 and going on for 1 year 2 months and 29 days that takes it to the 2/11/23 hearing. It says it is ended from the lower court and transferred to Supreme Court.
I will double check.
Hi BellaStar,
There is no note anywhere about a ruling made on the 13/12/23.
I've opened the notes from the 2/11/23 hearing and it only relates to the Judges ruling of the 2/11/23 case where she says to submit a cassation appeal on behalf of KK to the Supreme Court.
Might be why it wasn't mentioned in todays RNS.
You could just as easily argue that Gowlings held out to the end to make sure they got their payment in full. Unless we are given the details it's all just suposition that plays out dependant on your view here.
Ivanchenko was one of the authors of a 2022 report which had the potential for Nyud as lower than at NKT whilst accepting both Nyud and NKT were inferred resources and under explored for PGM's.
As I've pointed out previously, you get some very fancy high figures for inferred resources but as they are properly explored those figures come down as with the 350t of PGM's said to be at Vuruchuaivench in 2004, down to 95t once properly explored, not all of which would be economical to extract especially now as PGM prices are dropping still.
Bah humbug, what season are you talking about :)
Whilst the rich veins at NKT were mined there is the bottom deposit, sounds pretty nasty but not that sort of bottom deposit. I've never suggested NKT or Nyud are barren, I've pointed out that what is said to there is not fully explored.
It's also over a year and a half since the annual results RNS 29 June 2022 where they said drilling had been commenced to the East and North of the WN deposit targetting it's extension to the WN ore body into the NKT araea.
Potentially important as this step out drilling could show a larger ore body at WN with a potential increase in what's there.
AIM listing rules require a minimum amount to information from drilling, have we heard nothing because they found nothing or are they witholding important information that helps put a value on a potential sale.