Europa are delighted to link with I3E and look forward to early September Serenity appraisal spud. Watch the full video here.
what is there 2000+ on telegram, gosh knows how many here ADFVN, Twitter etc and how many attend AGM..........84 online and about a dozen in room? Pretty pathetic by any standards when sooooo many "share holders" want to have their "say" on social media but couldn't even be bothered to hear what the BOD have to say?
Shame that one share holder in the room couldn't follow up with the obvious question after CS said Nyud still in government hands. That would be does that mean JORCs and CPR cannot be released until it is in our hands? A question I posted online to them but wasn't answered.
So contacted the company about it, and referencing how online questions were not answered. Interesting replies. As was when I asked what their definition of "material" offer was because it is not normally a term used in M & A. Again very, very interesting reply. What to know? Well bleedin ring up yourself lazy sods and ask instead of expecting others to spoon feed you!
the tribes on here.
1 Deramping Trolls like ScummyDog, W4ankerwolf, Titfactory, Adurey, The bonkersstork etc who have never owned a share!
2 Traders like Tygra etc who are so obvious if you look at their posting history on other BODs. How some are fooled by these types leaves me gob smacked at times!
3 The "like" collectors who post any negative about the BOD/communication knowing at least 20 numpties going to tick them up.
4 The whining, disgruntled, underwater, over leveraged, self entitled moaner who know so very little about investing or the company they are in. Step forward likes of weeny888, CTC fool etc who demand their sweeties now!
5 Foul mouthed abusers like Hurler, loonytoons etc dear me, do any of you read a posters history. On day release and not taking meds these type.
6 Finally genuine lth, the ones who know what they are talking about, the ones that don't bother posting much anymore. The one I am taking partial retirement to the ranks of. I don't need to defend my investment to the above tribes. GL to anyone else wants the job.
Now to all my fans don't bemoan my posting lost to your lives as you know I am always in your heads as will be proved this weekend lol.
Holding and adding for years, will be here to the end and expecting 2nd half of year to be "transformational". See ya x
KPMG engaged imo to work out details of funds going both ways. Why we needed local Russian firm with contacts and knowledge of the "system". It is what they do and I think one of last choke points on a signed deal.
Mike56 fair enough if that is your view but when you have several interested parties making non binding offers then it certainly concentrates the minds of those parties. In effect it is a bidding war, albeit some would imo be farm ins/JV. So imo any offers are indeed very good news.
Just one point on DD, we were told that credible buyer we left FSP for on their offer of fundamentally all the assets had successfully completed it. But........I wouldn't expect the company to RNS every time another party started DD so could easily be more doing it now. or even completed it. Leaving FSP for that one buyer was trigger for that RNS
Mike56 strongly disagree. Yes, it won't be put to share holders until signed. We won't know until it is. But any offer means nothing? Means some entity thinks we are worth an offer. Would be up to the BOD IF THEY think it is worth taking said offers. The fact is they have had several non binding ones and that is a lot of interest!
The fact is we left FSP for an offer for fundamentally all the assets. The fact is that entity knew the asking price and felt it was worth spending millions and months to successfully carry out DD. The fact is that party is still at the table. And the fact is there are other interested parties in talks besides the. Lot of facts.
Layla1 the MT DFS is due then, which of course could be something a buyer is waiting for. Personally I don't think they would as can just step in at any stage and take it over in a sale. For me IF Nyud licence is the key then Assets sale going to be pretty darn big!
Well christian did say this" In conclusion, we are confident of achieving additional milestones during the remainder of 2022. We are well equipped for the challenge, and I look forward to working towards our goals in the coming months."
So as the "principle strategy" is Assets Sale pretty sure it would be one of the milestones or goals?
Gordie5 nice theory, but the basket price is worked out as an average over the LOM. If it wasn't you would never get a price agreed because of fluctuations. Many experts on both sides come to an agreement on this after a lot of haggling. Nobody knows what commodities will do in the future as nobody knows what might happen in the world. It is also why JORC's/CPR are very important as they are accepted by both sides.
Audrey, what does it mean? wekk it means you are wrong as usual, surprise surprise! Look up yourself when SinoSteel contract was "signed"!
The fact it is valid to 2028, and not activated, tells me that never really had any intention of, and still don't. Merely a nice back pocket bargaining chip at the Poker table. It screams Chinese take out of some description. Wouldn't be surprised if they are waiting for Nyud licence to take out basically the whole company.
When to begin due diligence
Don't start due diligence until you have agreed a price and terms with the seller. They may agree to take the business off the market during your investigation. This is known as an exclusivity period - and the seller will often ask for a down payment to secure it.
I doubt the "credible buyer" got much of an exclusivity period due to the several other interested parties especially after Rosgeo JV signed. I doubt "we" would wanted to be tied down with so much other interest for a start. Definitely didn't get to the stage of break fees. As always said you don't spend a lot of time and money carrying out DD unless you are in basic agreement to start off, in the same ball park at least on price.
So those of you who think that the DD buyer holds all the cards, well I think you are wrong. More likely sweating that there offer is not bettered by other parties. Meanwhile either waiting for KPMG to do their stuff and/or Nyud licence (IF included in a sale) gives the BOD feet up and chill while choosing best offer on the table all the time war situation calms and one day bang!
he referred to his computer Re Keith actually
yes he could bundle some together eg Re Nyud, got to say interesting that at least we know still in government hands so won't be any JORC/CPR imo until handed over officially. Now that will be a nice RNS.
However they have to answer any questions from share holders in one form or another, it is a "legal" right. As said the couple I asked online bore no relation to answers he gave to some. As said a few times why do think he was surprised at so few given how aware they were of twitter/social media?
Not blaming him, blaming site running, or not, the show. It calls into question everything include if votes were registering
EIEO1 no you are 100% wrong on this. The questions online were not submitted to him or ignored and that is a fact. Other posters saying questions ignored and I know mine had nothing to do with anything said. eg one was about assets outside Russia as stated in annual report and I linked it to the Meyer/proactive investors remarks saying similar
EIEO1 sorry you ae incorrect again...........
Since launching the Formal Sale Process on 1 July 2020, Eurasia and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the Company as well as other transaction structures.