RE: Nice find on Telegram18 Sep 2023 20:26
IKN, they've been trying to sell assets since 2015, you cannot argue that as it's there in black and white from an interview with proactive investors in March 2015 relating to MT.
They've been peddling the sale rhetoric for 8.5 years, how can any investor believe them when it's been such a long time?
They've raised monies throughout those 8.5 years for what? they don't seem to be producing much if anything, they can't sell the concentrate they have, and they don't actually own anything much, as the unexcavated minerals belong to the Russian State whilst unexcavated. If they are not doing anything to get them out of the ground, ownership remains with the State.
They have a lengthy row with two of their major retail shareholders who've ended up taking them to the High Court. The proceedings started in early December 2021 yet they failed to inform investors of the same until some 18 months later a shareholder discovered it and made it public, so that then the company had to confirm it.
The likelihood is they didn't tell investors in case everyone decided to try and jump ship, just like they stopped those two major shareholders from being able to sell their shares at a time when the company wanted to conduct a raise. The rest of us were treated with the same disdain when they concealed the court proceedings from us.
They've raised monies for a buy out of a JV with the State, and haven't utilised it for that buy out, and no one is none the wiser about the money as such.
They've registered subsidiary companies in Cyprus without any consultation with shareholders and placed the 'nickel' assets under that umbrella.
They've got themselves embroiled in two sets of High Court litigation, now settled one, but how they've paid to settle it, no one has a clue. The remaining one is likely to involve substantial damages if the claimants win.
The company have indicated that there is now 'low visibility' of any sale.
I could go on, but what's the point, there's enough disasters already listed above!
My views, but I think there's more facts there than you ever post in your ramblings.