George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Does anyone know why the 57k bankruptcy proceedings are happening against the subsidiary.
Looks like the creditor kysen filing the charge is related to the zhevago.
Not sure why the majority owner would file a bankruptcy procedure against his own company?
In the usa it would give some protection not sure what the purpose would be in ukraine.
Barclays have the 3rd highest TR-1's issued after Credit suisse and UBS next is VM.
The whole subordinating TR-1's before equity has the market concerned and refininacing these currently will cost alot more. Hence the Barclays price lower than others.
BOE and EU hav clarified that TR-1's will continue to be above ordinary equity so markets should calm down eventually at least regarding this.
Not of much significance to share price but looks like the previous position for Jupiter holding is incorrrect.
Should have been 1,246,176,203 x 0.0897=111,782,005.4091
Or is the share amount correct and percentage wrong?
Hi Kallumama,
Your completely correct, past is no indication of future and the share price was valued at different multiples then. However I do think the issues facing bohoo are transient and we should see a rise back up again from these levels.
US Data on higher services data, spiked dollar so sell off on precious metal miners, copper miners seem to have gone up due to risk of recession is less. Strange thi sold off as this is mainly a copper miner, may be it's the name.
I wonder if that buy was actually a sell done throughout the day.
From a telegraph article I read yesterday fund managers where selling as this is going out of the ftse 250 soon which accelerated the fall.
See what happens now.
I could be wrong it might have ended at the 31st of July. Can't remember the wording
I suppose this is due to the 30 day valuation period with regards to the deal that started on the 31st of July.
https://www.wsj.com/articles/goldman-banker-takes-on-worlds-largest-gold-minerand-gets-pushback-1533571339
...
Several of Barrick’s experienced senior mining executives have left the company in recent years. Its president, Kelvin Dushnisky, said he is leaving at the end of August. No replacement has been named, and the company hasn’t had a CEO since 2014.
Mr. Dushnisky, who declined to comment, found himself in an awkward position in October when he joined the directors of Barrick’s 64%-owned Acacia Mining ACA -1.22% PLC at its London headquarters for a board meeting.
The session was interrupted when an employee burst into the room with news that Mr. Thornton was at a press conference in Tanzania discussing Acacia, people familiar with the meeting said. The proposed agreement he was unveiling would see Tanzania lift a ban on gold concentrate exports in return for a payment of $300 million, or nearly 40% of Acacia’s 2017 revenue, plus joint ownership in Acacia’s three Tanzanian gold mines.
Acacia’s stunned directors, including Mr. Dushnisky, had not been consulted, according to people familiar with the matter. They learned about the details watching Mr. Thornton’s Dar es Salaam appearance.
Mr. Thornton declined to discuss his reasons for proposing such a large payment. He said he decided to intervene personally after he grew frustrated with the lack of progress between Acacia and Tanzanian officials.
Mr. Thornton’s steady refrain about financial discipline left investors unprepared for the move.
Since Barrick confirmed Acacia would be on the hook for the $300 million payment, Acacia’s shares have fallen by more than 40%. Its CEO and CFO have resigned. Two of Acacia’s three gold mines in Tanzania, all of which historically accounted for about 10% of Barrick’s total production, remain idle.
Mr. Thornton is a latecomer to the mining industry. He retired as president of Goldman in 2003, after a 23-year career with the firm as a deal maker and head of European and Asian expansion. He parlayed his Asian experience into a career as an adviser and teacher with the business school at Tsinghua University, one of China’s top schools.
...
Nothing about aca apart from its progressing when questioned
I doubt they have insurance for political risk, they wouldn't have made provisions for 300m if they did. They would also have said so. When tullow had a disruption in oil output through mechanical failure the first thing they did is to mention they were covered by the relevant insurance.
The disclaimers are same as the last report.
The 16 percent is for the mines in tanzania not all of acacia. They would set up a subsidiary that owns the mines (if its not already structured like that) and give shares to the GOT from that entity
I did see buys out way sells the last few sessions, so my guess its a sell, maybe it was being worked causing the price to fall in the last few days
Difficult to make anything of it, could be good or bad. The usual volume has been around 500k for the day.