Member Info for Pk73

The terminology isn’t very clear there, @edhellas, and could do with a bit of clarification. For me q1 2024 is jan to mar.

Q1 2425 for me is as you’ve stated…

My financial year is may to April, and I have read q1 2024 as the calendar year, not financial year.

Like you though, I’m also happy if they do mean June for the same reason as you!

🤷‍♂️ who knows….? PK.

I suppose it would depend if they get a positive or negative response… or if it’s going to be completely ignored.

Looking at the history of this case, I suspect MB fully expects options b or c and I think the arbitration will be started sooner rather than later as he’s fed up of the runaround.

28 days does seem too short, but a part of me hopes they instruct the arbiters after that to begin the (arguably inevitable) proceedings.

I’m paying attention from next week, for sure, but wouldn’t be surprised if there’s no news until end of feb.

No facts presented above… only gut feel….

GLA pk.

No… tinpot website…

It also says this: The Bhukia Gold Mine arbitration hearing is scheduled to be held at the International Centre for Settlement of Investment Disputes (ICSID) headquarters in Washington, D.C., United States.

Sorry, chaps, I fell down my first AI rabbit hole… and pondering what sources this stuff pulls from that we humans either can’t find or don’t have access to…. Alternatively, how much is is the programme speculating or embellishing?

Again, please don’t shoot me for this. Just playing about on googles new AI bot… I’m not ramping/de ramping or even saying any of it is true… just copied the answers here.

If that timescale turns out to be even remotely true, then I’d be super happy.

If anybody can prove or disprove any of this, or indeed it leads you to investigate a new path, then it’s worthwhile.

As always, Do your own no-AI assisted research! PK

And finally…. This historical timeline doesn’t tie up with the RNS, so pinch of salt required…

here is an update on the Bhukia Gold Mine arbitration:

Latest Developments

October 2023: The Bhukia Gold Mine arbitration is currently in its pre-hearing phase. The parties are still exchanging documents and preparing their cases.

November 2023: The parties have filed their Statements of Claim and Defense. The Statements of Claim outline the parties' allegations of wrongdoing, and the Statements of Defense respond to those allegations.

December 2023: The parties have exchanged their witness lists and expert reports. Witness lists identify the witnesses that each party plans to call at the hearing, and expert reports provide summaries of the expert witnesses' opinions.

January 2024: The parties have scheduled a hearing on February 1, 2024. The hearing is expected to last for two weeks.

Expected Timeline

February 1, 2024: Hearing begins.

February 15, 2024: Hearing ends.

April 2024: Arbitrator issues award.

Key Issues

The key issues in the Bhukia Gold Mine arbitration are:

Whether the Claimant has a valid interest in the Bhukia Gold Mine.

Whether the Respondent breached its obligations under the mining lease agreement.

The amount of damages, if any, that the Claimant is entitled to.

Possible Outcomes

The possible outcomes of the Bhukia Gold Mine arbitration are:

The arbitrator rules in favor of the Claimant and orders the Respondent to pay damages.

The arbitrator rules in favor of the Respondent and dismisses the Claimant's claims.

The arbitrator finds that there is no evidence to support the Claimant's claims and orders the case to be dismissed.

Next Steps

The parties will continue to prepare for the hearing and will present their cases to the arbitrator in February 2024. The arbitrator will then issue an award in April 2024. The award will be final and binding on the parties.

Asking the question about what parties are involved gives a location and a timescale… again, no clue if this is correct or not, but I figure it’s pulling the info from somewhere…

Please don’t shoot me for this! Just use it for a basis for hypotheses and idea to prove/disprove

GLA pk.

The parties involved in the Bhukia Gold Mine arbitration are:

Claimant: Indo Gold Pty Ltd, an Australian company

Respondent: Government of India

Indo Gold is claiming that the government of India breached the 1999 Australia-India bilateral investment treaty (BIT) by nationalizing the Bhukia Gold Mine without proper compensation. The government of India is denying the allegations and has not yet filed a response to the notice of dispute.

The arbitration is being conducted under the rules of the International Centre for Settlement of Investment Disputes (ICSID). The hearing is scheduled to begin on February 1, 2024, and is expected to last for two weeks.

Figuring Google speaks better local Indian languages, and has more patience than I do, for interest I asked google’s new AI service for an update on indo golds arbitration case…

(Bard.google.com)

Whilst I have totally no clue what sources it’s used or whether there is any truth in its assertions, it came up with the following:

The most recent update on the Indo Gold arbitration case was on January 1, 2024, when Indo Gold Pty Ltd issued a notice of dispute to the Indian government alleging that it had breached the 1999 Australia-India bilateral investment treaty (BIT). Indo Gold is seeking compensation of up to US$500 million for the alleged breach.

The next step in the case is for the Indian government to respond to the notice of dispute. If the Indian government does not respond, or if the parties are unable to reach an amicable settlement, Indo Gold may initiate arbitration proceedings.

Here is a summary of the latest information on the Indo Gold arbitration case:

January 1, 2024: Indo Gold Pty Ltd issues a notice of dispute to the Indian government.

Pending: Indian government's response to the notice of dispute.

Not sure if it’s pulled the 500kUS from a doc it’s found or what, but it would be below my admittedly bullish expectations of 1.5bn plus…

Then I put into the search bar “ Update on bhukia gold mine arbitration” and that opened a whole new world of questions…..

As always DYOR…. Or let AI do it for you, but view the results with some skepticism…

Just approved by the looks of things, @neil777.

Literally no clue what btc will do overnight tonight…

Just hang on till the next pay day will you? Whisper mode until then…

Pk

I don’t think your drunken claims are beyond the realms, @deck.

The RNS’s repeatedly suggest a value north of a bill… MB himself suggested bhukia only could add ‘more than one zero’ to the SP, and the recent lcm funding structure suggests there is confidence of a significant payout…

Go to the pub all you like, as I think your drunken logic is sound!

GLA pk.

Any such notice of arbitration is anticipated to be delivered to the Government of India in this first quarter of 2024.

So end of march latest… 12 weeks from now… 87 days and counting.

PAT will have to RNS that when it happens as per da rules…

Can’t see us being off the radar to such an extent that some heavy investment won’t happen between now and that date…

We’ll see!

PK

@ejt, in the RNS’s take a look at the part about value where it says that the value to be claimed is not limited to times of India valuation… which I think was the billion, and that was back a while now too.

My guess is that it will be min 1billion, but purely based on the sentiment of that repeated passage in the recent RNS’s, maybe 1.5-2?

If you’re confident and can spare the time, then hold until the payout rather than an interim value of 5-20% of that (although I suspect many here will ‘free ride” it from when the value passes 5% mark…. Which would be around 45p… and pull their initial stake out).

But then WTFDIK? That guess is no more valid than the next persons!

Either way, once that RNS is out with a number nailed to it, I think even with AIM’s usual shenanigans, we will be saying goodbye to 6p.

As always DYOR and best of luck. PK

Geng, are we stuck at 7p for any reason? Any pointers welcome here… I.e. next resistance..

Pk

Yep. 👍

Ess haych one tee just got real. MB nailing on his promises one by one… obs the promise we are waiting to be nailed is the ‘adding more than one zero’ to the sp.

Happy 2024 all. This is a strong start….

GLA pk.

Basically a half year report which is a cut and paste from the last six month RNS’s…

Bit of a damp squib that basically says we will dilute again in 4-6 months. I’m a bit non-plused with this RNS, and would have at least hoped for a date when this NoD would be issued… they did say q4 2023 and make no mention as the why this hasn’t yet gone.

Unless I’ve missed something? Come on chaps, pull your fingers out!

Pk

Hashtag matesrates!

Been thinking on the recent dilution and the subsequent research note.

Did PAT know that the research note was commissioned and due out? If so I’m not sure how I feel about two dilutions in quick succession knowing the research note would likely have a positive impact on sp.

I’m slightly annoyed that if the research note came out first, the dilution would have been lower, but I guess then we’d all be screaming “pump”! So can’t win that.

Maybe it’s just dilution I don’t like?! But hopefully that’s it now before the RNS that reveals the claim value.

Good research note though. And I share the prof’s nervousness with India, so hope the process is quick enough to fend off any law changes.

GLA pk.

50ish percent of the claim amount, not payout.

I think the prof might be right on the claim amount, but agree any award will be much less. Only based on other awards in arbitration, maybe 50ish percent of the payout.

Pk