Member Info for Wimbledon

'On Monday, it was reported that state-owned Terrafame has acquired the Belgian metal processing company Nyrstar EUR 216 million Talvivaara obtained. The price was not told, but the state hardly paid the debts couple million more. The news was good - especially if it will help to finally find a solution to the state of the Talvivaara-knot. Terrafame acquired in August Talvivaara Sotkamo bankruptcy estate of its business operations, mining rights, as well as machinery and equipment. The deal did not belong to a public company owned by the Talvivaara lime plant, geological maps and laboratories, which are necessary to run the mine. A listed company has been selling them as a service to the mine. The state can now change the purchased debt receivables listed Talvivaara holdings mines. After this, the state should possess the whole package, so that its sale would be more easier. The State shall in any case find a buyer for the mine soon. In summer, the state invested in the mine of EUR 209 million. Those funds will be depleted in the spring, as the mine's costs are about 20 million per month (HS 22.11.). With increased resources, Talvivaara is hardly longer politically possible.

'Currently Talvivaara finances its operations by providing administrative and technical services and by leasing machinery and equipment to Terrafame Ltd. Talvivaara continues its negotiations with Terrafame Group and prospective investors with a target of being able to invest in the Sotkamo mining operations or to secure a different financial and/or operative arrangement that will enable the continuance of the Company's viable business. The Company will update the market about the outcome of such discussions in due course.'

Continuation of services jcb is this positive news surely not . What ya think ? Oh happy Xmas btw

Howdi MB can you please remind me of the email address again and I will gladly confirm my holding

only thing in the press is about someone making films about talv.. WHERE OUR MONEY ?

yes this is unbelievable that we have no information on our shares here. big articles like this but nothing about us http://www.hs.fi/talous/a1448079108858

Metal Bulletin is a paid subscription service so please share this content using the link below. By copying and pasting you might be in breach of our copyright, please refer to our T&Cs. Email subs@metalbulletin.com for distribution rights. http://www.metalbulletin.com/Article/3505813/Nyrstar-looks-to-secure-concentrate-supplies-as-it-mulls-mining-exit.html#ixzz3rM563RjD Follow us: @metalbulletin on Twitter Nyrstar looks to secure concentrate supplies as it mulls mining exit November 12, 2015 - 13:45 GMT Location: London Belgian zinc producer Nyrstar is considering a complete exit from the mining sector, just five years after it was investing heavily in major projects such as Talvivaara in Finland and Canada’s Breakwater Resources.

Sausageonstick you naughty boy dont forget kibo mining .. ramperty rampety ramp.. anyways back to ser well nothing of a surprise now we wait ( and buy more kibo mining which IMO will off set all my losses here handsomely

and the saga continues LOL

i wish they would make their minds up here I am paying to hold this worthless piece of poo !

hard to understand but looks like the case has been thrown out and pekka is a free man. if so perhaps he can now concentrate on salvaging something.. who knows !

a nyrstar let off, turn around in the commodities market, additional funding, the environmental issues to be sorted, the leasing contract (machinery and services) to continue, the amount of shs actually converted from debt oh and the timeframe not the be breached.. it would be nice to get some sort of update from talvivarra and pekka pera but i guess he is too busy keeping himself out of jail !

'The right of conversion of debt into equity included in the restructuring programme of Talvivaara and/or the issuance of new equity instruments may lead to a significant dilution of the existing shareholding of the Company. The extent of dilution will eventually be determined by the aggregate amount of the restructuring debts to be converted into shares at the determined conversion rate of EUR 0.1144 per share as well as by the subscription price of the newly issued shares offered and the amount of funds raised in, the potential equity financing. The Sotkamo mine has faced various difficulties since the commissioning of the mine in 2008 and 2009. These difficulties include, among others, operational difficulties concerning the mine's production and performance, environmental issues as well as legal and administrative proceedings involving the Sotkamo mine and certain members of Talvivaara's management. Therefore, even in case Talvivaara acquires a stake in the company carrying on the Sotkamo mining operations, the Sotkamo mine may not be able to successfully address various operational, environmental and other difficulties facing the Sotkamo mine and shareholders could ultimately lose their entire investment in the Company. Further, there can be no certainty that the financing potentially available to Talvivaara would be sufficient to ramp-up production at the Sotkamo mine or that it would ever achieve profitability.'

and fast . the website sums it up ' Although the Board of Directors believes that a corporate reorganisation is a viable option for Talvivaara, there can be no assurance that the proposed restructuring programme of the Company will be approved and authorised or be ultimately successful. The corporate reorganisation process can fail for a number of reasons, including due to an insufficiency of funds to implement or complete the restructuring programme, changes in circumstances affecting the financial viability of Talvivaara, including, for example, termination of the service and lease agreements, or insufficient income from the services provided. If the corporate reorganisation fails for these or any other reasons, it could result in the bankruptcy of the Company. Furthermore, even if the Company's restructuring debts were cut in accordance with the Administrator's final draft restructuring programme, the assets of the Company would still be less than the aggregate amount of the Company's remaining liabilities following the 99-percent-haircut of the unsecured restructuring debts or even following a 100% conversion of the unsecured restructuring debts into equity of the Company. The exact amount of the negative funding balance will depend, among others, on the extent to which unsecured restructuring debts are converted into equity of the Company, and on the aggregate amount of the Company's other liabilities not subject to restructuring at the date of entry into force of the restructuring programme. As at the date of the Company's H1 2015 interim results on 27 August 2015, there is no certainty as to whether the Company succeeds in bridging the negative funding balance. More information on the negative equity is provided in Note 1. Failure by the Company to reach final clarity on the treatment of its guarantee obligation for the termination sum set forth in the Zinc Streaming Agreement or for the EUR 12.8 million guarantee liability under the Streaming Holiday Agreement may impair or even hinder the Company's efforts to raise new funds for the successful fulfilment of the conditions for the entry into force of the Company's restructuring programme. Whilst the Company shares the view of the Administrator on the treatment of the guarantee obligation for the termination sum under the Zinc Streaming Agreement and considers the view well-founded, there is no certainty that a competent court or a dispute resolution authority would arrive at the same outcome, should Nyrstar take legal actions to contest the chosen view. Furthermore, even if such legal actions were not initiated by Nyrstar, any uncertainty surrounding the issue would have a significant negative effect on the Company's ability to raise new funds required for the successful fulfilment of the conditions for the entry into force of the Company's restructuring programme.

all is not lost'CEO Pekka Perä comments: "When the unsecured creditors approved the draft restructuring programme, an important milestone was achieved. Although there are still significant challenges ahead, it was a major tick in the box in this prolonged restructuring process. As we have received continuous support from the shareholders and the creditors, the weakness in the commodities market is still effecting on the mining finance space as a whole. A good sign is that some investors are getting active with the view that the bottom has been found in the base metals market. The operational result of the Company was in loss as anticipated, but as the restructuring costs will decrease, it is expected that the cash position will remain roughly on the same as level as at the end of the period for the next months to come or until a solution for the Company's future has been found. The management and the staff have been working hard despite all the uncertainties around the Company. The transfer of the leasing and services contract to Terrafame provides visibility for the personnel in the short term. I would like to thank departing board members Mr. Edward Haslam, Mr. Graham Titcombe and Mrs. Maija-Liisa Friman for their efforts. Their experience, skills, commitment, strength of character and sense of humour will be deeply missed."' It was only 4 weeks ago

yes i have over 700k shares so big lesson learnt for me, in fact lots of lessons. biggest one never invest in anything again that has anything to do with Finalnd! sad but true.. once bitten twice shy! just hope we can get some sort of conclusion soon so i can at least close my account that holds the shares.. thats the bit i dont understand really why dont they do just that rather than keep it dragging on surely if its curtains the old shs would have been cancelled by now.

i know saw that too this whole thing is becoming a complete joke .. surely there should be some sort of shareholder update on whats going on.. are the finns that laid back !

omg how long will this drag on for someone cancel my shs please !

well i hope this persons correct 'alvivaara's creditors may, following the Annual General Meeting on 25.6.2015 to change their debts into shares. Thereafter, a listed company owned by state investment company , Solidium , 80 000 small investors and creditors with whom the government should be able to cooperate. Rehn should take seriously the finding by the listed company to have invested in Talvivaara Quaker Funds ( Yle 06/22/2015 ) that the government 's own previous actions considered to be the main obstacle to further investment. My understanding is that the only possibility to continue mining operations is a new mining company , which in addition to Terrafamen are included in the listed company Talvivaara and Talvivaara Sotkamo creditors if they so wish . Taxpayers benefit driven best yet , so that Talvivaara will miss the opportunity to redeem later Terrafamen share . Ilkka Niemi'

Hi Linemaginot, hope you are wrong but you could easily be correct. all very silent at the moment with the only name being banded about is terrafame's. am hoping there will be more to it than that and that the re org is still on going!