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Is there a future now? Anyone with experience of this? Is it possible to realist at a future date? Sale of the assets now looks like the only option.
It probably is the end for SNR now. Any idea who will pick the the pieces at the mine if it is?
Looks like the stock could resume trading as per substp's post. Personally if it does re-list, I'd like to see a RNS saying shares are suspended pending takeover discussions, which is of course wishful thinking. If the stock resumes trading, I expect it to be hammered unfortunately.
I struggle to share your enthusiasm. If the company ever re-lists, what price would you expect the shares to be?
A great asset, however value for PI's completely eroded while management line their own pockets. The Nels will do very well out of this as well in my opinion. SNR directors are nothing but a bunch of crooks, lining their own pockets and shafting the PI's.
Marv, the ship has officially sunk!
Substb....you have completely lost me! Can you spell it out in simple terms for the simple people like me?
They must be confident SNR will come out of suspension, otherwise the deal would make no sense for them. But why are SNR getting involved with millennium?
How much are thelo due? Whilst the SNR directors are urgently seeking legal advice in order to clarify the position, it is their preliminary understanding that this order effectively freezes the Company's entire interest in Elitheni and confirms the jurisdiction as the Republic of South Africa to any further claims by the applicant, Thelo Rolling Stock Leasing (Pty) Ltd ("Thelo") against SNR or Elitheni (the "Court Order"). Right now, thelo own all the shares
The 266 million tonnes was verified resource with reserves of 31.4. Since the confirmation of reserves there has been a huge amount of further shares issued. I really don't know the value, as it is mostly thermal coal, however this represents just 5 % of the acreage. If it is sold off, it will be around historic lows in my opinion.
I think you've probably hit the nail on the head with that one.
Anyone know what the current assets are valued at and what price SNR could get for the business? I think this has administration written all over it.
I wonder how well the Nel's will do out of this situation SNR are in? It wasn't so long ago David was shouting from the rooftops about how good this company was, only then to go and sell all his shares!
Could the company be bought over by another miner with SNR receiving shares in the buying company? I must admit, by gut feel is bad news. The share price has dropped considerably this week......
So is the profit viable if they can get back operational?
API4 coal is currentyl about $73/ton. Is that correct? I'm not sure what Elitheni get, can you please enlighten us? Thanks http://www.barchart.com/chart.php?sym=IFFM14&style=technical&template=&p=DO&d=X&sd=&ed=&size=M&log=0&t=BAR&v=2&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=&addindicator=&submitted=1&fpage=&txtDate=#jump
Where do you think this one is heading? Do you think SNR will get the show back on the road?
Do you think SNR will ever get out of this mess? Personally, I think it could be game over now for the company. What are your views?
It looks very much like SNR are going down the tube. I would imagine the pieces will be picked up by private investors who will do very well out of it, and don't be surprised if they are linked to the Nels!
Care to elaborate more?