We would love to hear your thoughts about our site and services, please take our survey here.
Randolph Lewis was called President when he was employed by Amc
Its a title. Forget it IMHO.
They could be larger vessels of course.
TDT
Suggestions of AH or indeed RY having ulterior motives is not born from numbers. That's opnion.
Stage 2 finance for NRR being so uncertain RL said. Well who said that???
Not our choice to convert RL said. Really?? Well that's not how a CLN works Im afraid.
A mine that cant get financed RL said. Well I didn't even know we had got to that stage yet! Lets get the TEO out first shall we before jumping the gun imo.
Post a decent TEO RY should have been able to raise enough cash for the BFS. Isn't that what we are doing?? Or perhaps RL could provide more detail on the alternative.
"If RY finds a red flag in relation to this debt instrument, then he is on to plan B which is JV to fund the BFS, if not possible on reasonable terms then plan C is more dilution of the equity or park the project. Is he already in the process of parking it?" RL said.
Parking the project? Really? With a TEO to be released, commodity prices rising and Offtake agreements being discussed I doubt that don't you?
I though a quick one line post earlier would suffice but it seems a clearer explanation of my interpretation of RL's post was required.
Stick to the numbers as I said earlier or RL's posts just fall into the same category as mine and 90% of the others on here and will come with the same level of respect. Poor form and that small comment from Sparticus should have gone over RL's head imo.
At times I think 'If you cant handle the heat get out of the kitchen' is more fitting.
I like RL's posts when they stick to the numbers.
All I see in that last post is emotive opinion which anyone can challenge by simply stating the opposite.
Indeed GB33 lol.
Do Solicitors work during the xmas holidays?
I didn't vote. Always have done but got wrapped up in life and forgot. Had I voted AH would have got my vote for reinstatement.
:(
Hi CT, its possible they are seeking legal advice regards how to word an Rns that details why the bod voted him out. Thats if they did of course.
Hopefully not too long to get to the bottom of all this.
I hope you do.
I wouldn't want the work but thanks for the compliment.
If you want you want to call out dishonesty then why not start weeding out the chaf on this board sometimes.
Most people I know that have made it in life are a little bit grey. Its the way it is. I don't endorse it but its the sad reality.
MD, perhaps you could explain how they would have got the NRR and working capital placing away with your preferred scenario?
Its never as simple as we would like it to be imo.
Yes disappointing that its delayed. But taking comfort from the highlights in the Rns that its worth waiting for.
Its the Teo I'm interested more in. I too have been here a very long time but find a more positive outlook is better than looking backwards. Yes its felt slow but we are moving forwards which is what matters most to me.
I am expecting an rns prior to the webcast.
I would expect the CEO to take the glory for this one. Afterall 15 years of work to get to this document deserves a bit of limelight imo.
Looking forward to watching the presentation tomorrow. :)
Its 2020. But you never have been good at clarity DB.
However from the same rns.....
The CLNs will have a 14% coupon, paid quarterly, and will be convertible at the holder's option at any time from issue until 15 days prior to their maturity date on the third anniversary of issue. Amur's CLNs will be convertible into 19 per cent of the current issued share capital of NRR. Any CLNs not converted by the third anniversary of issue will be redeemable at par. CLNs may be redeemed early by NRR at any time but in such circumstances the relevant holder is entitled to be issued with a warrant giving it subscription rights over shares in NRR equivalent to the conversion rights attaching to the CLNs and a penalty payment equal to all of the unpaid but due coupons to maturity. Working with Glencore, Amur has been able to co-invest in the Roper Bar Project.
Iron ore prices dropping is a possibility MD I agree.
But converting now without dividends instead would be pointless I guess. However If NRR proves to be profitable and declares dividends down the line then not only would we see a better return but also the value of the shares in NRR could well be worth considerably more.
As you say though the risk is in the future price of Iron ore. It does seem as though the operating costs are pretty low though so Iron ore prices would have to drop quite considerably before break even point is reached.