Member Info for Tugaybey

£100m for 60-70% of an asset like Ferrexpo is a fantastic price. A lot of investors could be interested, but there is no time for a proper DD, so it complicates matters.

"which lenders do you suggest that the mgmt approach to get this sensible secured loan?"

The same (very small group of investors) that they approached to raise new capital as well as a much wider group of investors who would never consider buying shares but could be interested in a secured loan. Ferexpo has no debt, and it's a mine, so it should have lots of assets that can be pledged to lenders. Vessels, trucks etc.

And yes, it's going to be very expensive.

"Who is giving a loss making mine a loan in a country with an active war, repeated energy disruptions and a constant threat of bankruptcy until the war ends? Imagine the interest rate that would be required. Great suggestion pal."

A secured loan makes much more sense than what Ferrexpo management is trying to do.

If they neeed money to finance delayed VAT refunds, why can't Ferrexpo just get a loan? There is no need to dilute shareholders.