The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Now I’ve had time to calm down the charter doesn’t look too bad the Big positive is no more 1% royalty and past empowerment deals recognised ( once empowered always empowered) negative is the 10% free carry for bee shareholders. They get full benefit without paying for the shares! Hopefully this will be addressed and lowered considerably
Let’s hope we’ve already sold zeb or uru as that mining charter is the final nail in the coffin for the already failing mining industry! Gwede montashe was going on like he was going to revive it! Not with that charter
SA Mining charter draft finally out: 30% Black ownership within 5y Boards have to be 50% black, min 20% black women 1% ebitda paid to workers/community 80% services and 70% total spend must be local 5% free carry for communities, 5% for workers past empowerment deals to be recognised
Parts of the new mining charter are starting to be released! 8% for communities & 8% for workers. Of which 5% of each, should be what they term "Free carry", where the company buys shares for the communities & its workers. Wouldn’t be surprised if the draft copy is fully released by the end of today!
URU updated the substantial shareholders on the 23rd March when they normally update it every six months? At the time we thought it was to assure pi’s the substantial shareholders were not selling when large sells had been traded! Previous date was I think the 18th December so we would of been updated on the 18th June... note would have been updated on the 18 June but they don’t have to update us now until 23rd october (6months) did they foresee that they didn’t want to update shareholders in June?
On Wednesday 6th June, the Portfolio Committee on Mineral Resources will be briefed by the Department of Mineral Resources on the amended Mining Charter and the exact targets that mining companies are expected to meet in 2017/18. ( does this mean the new mining charter is finished and awaiting approval)?
they updated the substantial shareholders on the 23rd March when they normally update it every six months? At the time we thought it was to asure pi’s the substantial shareholders were not selling when large sells had been traded! Previous date was I think the 18th December so we would of been updated on the 18th June...
OFD you’ve got laugh Ramaphosa said South Africa would use the opportunity in particular to invite investors to inject capital into the ailing mining sector :) The G7 consists of Canada, France, Germany, Italy, United Kingdom and the US! Correct me if I’m wrong but our these not predominately white countries? The controversial charter is aimed at addressing historic economic imbalances in the sector through increased participation of black people in the industry. Could this be the first clue to the mining charter
Consultation has finished today, hopefully we will see a completed version within the next two weeks. Could it be that the sale of zeb or uru as a whole has been held up on the outcome of the mining charter? Could all these tactical delays pointed out by king come to light with the publishing of the charter?
The Canadian Securities Exchange announced the new listing for MedMen Enterprises (CSE: MMEN), which will begin trading on May 29th at 11AM E.T. 16:00 GMT I wonder if this will coincide with captor returning to the market and releasing what they are doing with there URU shares? Sad news about your dog gige hard losing a true best friend
Canadian stock exchange opens at 14:30, don’t hold your breath for an rns from Zorbas. As far as I’m concerned captor will keep hold of there shares in uru one way or another, zorbas already knows this and is why he feels no need to mention it to Pi’s. Several times over we’ve blamed the drop or large sells of over a million on substantial shareholders and its turned out to be Pi’s every time. We will only know if they decided to update the substantial shareholders holdings page. Does anybody know of an email address for Appleby?
I’m sure zorbas can be blamed for the lack of communication to Pi’s, but most of it has to be down to the SA government being so shit at paperwork and backward in coming forward with helping the mining industry. The removal of corupt Mosebenzi Zwane was a blessing, he perpously delayed applications and governed over state owned mintek! we will hopefully see a change in SA mining industry under Gwede Mantashe and will hopefully start receiving some news we’ve been waiting a long time for!! ( Magnetite Results) etc etc
The Company is incorporated in the British Virgin Islands. Under the BVI Companies Act, shareholders are not obliged to disclose their interests in a company incorporated in the British Virgin Islands in the same way as shareholders of certain public companies incorporated in the United Kingdom are required to do under the FCA’s Disclosure Guidance and Transparency Rules (“DTRs”). Would this mean we wouldn’t get a Tr-1 ??