Member Info for TrickyDicky2

https://mailchi.mp/82f64a71967c/puregold-red-lake-roundup-newsletter-august-2022?e=ed6f1fb69c

TDT

Ivornomoney

Glencore have 9.8%
Teck 0%

Oooops. I was looking at an old presentation (actually not that old, June 2022). I stand corrected.

TDT

Glencore currently has 4.29%. What do you think would happen to the share price on the way to them acquiring 30%? Glencore, Teck, Orion, La Mancha. Any one of these 4 or, as of yet, A. N. Other could move on Horizonte. Vale didn't own any Inco shares when they bought them for $19B (correct me if I'm wrong but I'n pretty sure that's right).

Who knows what's going to happen here.

TDT

Ivornomoney

You can make an offer anytime they like. The 30% figure you quote is a requirement for a mandatory offer.

TDT

Gazzleberry

Noted.

TDT

The more Glencore has to pay to acquire Horizonte the less attractive it becomes to do so. It's a bit of a double edged sword for them now. If the price of nickel takes off in the near term, as its predicted to do, Horizonte might just become too expensive to buy. What a happy thought.

TDT

"......and we won't see a dividend here."

I'm not so sure about that. With 36% of shares being held by retail investors and a diverse group holding the remaining 64% it isn't nail on that any one party could easily wrest control. The more somebody tries to take control the higher the share price. The amount of free cash flow Horizonte can ultimately produce once Araguaia 1 then 2 go into production the more appealing it becomes to hang on to shares and that goes for all parties; retail, strategic and institutional.

TDT

pbhab2828

Fair comment, however the share price is likely to be a good bit below the value of the cash in the bank.

TDT

https://stockhead.com.au/resources/goehring-rozencwajg-commodities-may-be-the-only-safe-haven-during-recession/?utm_medium=email&utm_campaign=Stockhead%20Morning%20Newsletter-08-22-2022&utm_content=httpsstockheadcomauresourcesgoehringrozencwajgcommoditiesmaybetheonlysafehavenduringrecession&utm_medium=email&utm_campaign=Morning%20email%20Tuesday%20August%2023&utm_content=Morning%20email%20Tuesday%20August%2023+CID_95907a8f66fa63d25f5c2bedc4f6bc5b&utm_source=Campaign%20Monitor&utm_term=Goehring%20%20Rozencwajg%20Commodities%20may%20be%20the%20only%20safe%20haven%20during%20recession

TDT

Unlikely. If they don't find another project within 6 months an EGM to wind the company up and to distribute the remaining money is the more likely outcome.

TDT

Amur doesn't have another asset after the sale of KM other than cash in the bank. Once they've disposed of KM they become a cash shell and have 6 months to acquire another physical asset before they will be obliged, under AIM rules, to delist. They said, in a recent RNS, that they would be looking to secure another project by means of a share issue and reverse take-over.

So, the resolution goes through, KM is sold and a 1.8p divi is paid. Post disposal and divi payment the company should then be worth the value of the remaining cash in the bank, approximately 0.5p. You will still have your Amur shares and there may or may not be life after KM depending on whether they can find another project or not.

That's how I see it but I stand to be corrected if any of that is wrong or if anybody has a different take.

TDT

MD

I'm sure you are looking in the right place but just in case you aren't go to the drop down menu in the top left hand side of the Interactive Page after logging in. In the "Portfolio" menu you should see your "Voting Mailbox". That's where you should find the page that allows you to vote.

https://www.dropbox.com/s/y5terpuwmrnpx66/Screenshot%202022-08-19%20at%2009.48.49.png?dl=0

If there's nothing there it probably means you haven't registered to receive a vote on the web site. The other option is you can send a secure message telling Interactive which way you want to vote.

TDT

normster

The Russians are thought to have lost about 15,000 men killed in Afghanistan in the 10 years they were there. The current consensus, between Russian under reporting and Ukraine inflating figures, is they've lost 15,000 killed in the first 6 months of the current invasion. Putin might not care how many die but he will not be able the hide these losses for ever no matter how oppressive the censorship.

After reading Eric Newby's "A Short Walk in the Hindu Kush", as an adventurous 20 year old fed-up with university, I decided to take a year out, hitch-hike out East and go do the same. On the way home I ended up in Tehran on the day the Shah left. The things you do when you're young!

TDT

normster

Wrong. The Russians were in Afghanistan for 10 years, from 1979 to 1989. I know that dates only too well because I was in Kabul in 1979.

TDT

But it was humiliated in Afghanistan as was the West. What you want and what you get are not the same thing.

"He will not let mother Russia, something he holds dear, to be humiliated....."

Putin doesn't hold Russia dear. Russia is nothing more than the vehicle he uses to satisfies his megalomaniac tendencies. He and his cronies have done nothing other than rob the country blind and left the vast majority of its population in grinding poverty. How can a country the size of Russia with a population of almost 145m people have a smaller GDP than the city of New York if it's not being robbed and mismanaged by its successive leaders.

If you look at the occasions when one country has invaded another and tried to retain control of the land it has seized it rarely, if ever, ends well for the invader in the long run.

TDT

wasarunner

Echo that. Furthermore big mining companies do not like risk. They're happy to wait until risk has been mitigated or removed altogether. If that means they have to pay significantly more for the asset that's what they do. Vale waited until Inco had Voisey's Bay up and running and paid $13B for the privilege . They could have moved to acquire the project at an earlier stage in its development and paid an awful lot less but they didn't (interestingly they abandoned progressing Vermelho at around about the same time).

I don't see anybody making a move to acquire Horizonte until well after Araguaia 1 has been built and has worked at nameplate without incident for at least a year.

TDT

I think I've just spotted a massive sense of humour failure.

TDT

"A N' is a F'."

No a Nazi isn't necessarily a fascist. It all depends on your definition of fascist. The Nazi's looked back to an ancient paganism to justify what they believed was their exceptionalism. Classical fascism was progressive in its outlook, anti-conservative , modernist. The Futurist's manifesto more accurately describes fascism than anything else. The Nazi's were none of these things. Mussolini's fascism had more in common with Lenin's communism than it did with the Nazi's in Germany. It was Stalin who managed to tar fascism as an extreme right wing political ideology when in fact Mussolini was a socialist and the Nazis a national socialist party. Fascism, depending on which definition you use, describes Stalin or Putin's Russia far more accurately than it does Nazi Germany. Nazi Germany is in a category all of its own.

TDT

TDT

I doubt anybody on here could accurately define fascist. Academics can't even agree on a definition and there's even doubt as to whether Nazi Germany was a fascist state. It has been convincingly argued that it would be more accurate to describe Nazi Germany as being driven by a white supremacist ideology. Mussolini's Italy, Franco's Spain and even Portugal's Zalazar were fascist or neo fascists but none of them shared the same ******, antisemitic or anti religious ideology that underpinned Nazi thinking.

The term fascist gets thrown around as a universal pejorative. Even the father of fascism, Mussolini, is guilty of that. He called Stalin "a Red fascist". Hardly surprise given fascism's many similarities to communism.

TDT

I guess there had to be a reason for publishing the picture of smiling miners behind a bar of gold. Operation still fall far short of what's needed to sustain this operation and they're still doing the BS thing to make it look otherwise. What was it The Who said:-

Meet the new boss
Same as the old boss

TDT