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im gonna hold this bit over the weekend so at least i'll eat '- For both companies, has been taken forward in the long-term solution based on a model, which is presented to the public. It Talvivaara's assets will be sold to the new company. This is sought by economic operators and the parent company will finance it. In this figure, there is practically nothing will change.'

alvivaara working in the mining, Talvivaara Sotkamo Ltd files for bankruptcy. The committee was informed on Thursday morning. - Only yesterday, it was believed that we can get funding järjestymään, but this morning it became clear that there is no money, Pekka Pera told a news conference. At 12 o'clock the opportunity to have begun in Espoo, Finland started to Mr Pekka Jaatinen. - Business restructuring procedure, the procedure-term refinancing is assured at all times so that the operation can continue. If funding runs out, the procedure can not be continued, Jaatinen started. - The company's Board of Directors has decided this morning that the company submitted for bankruptcy. Bankruptcy proceedings were suspended, Jaatinen said. - For both companies, has been taken forward in the long-term solution based on a model, which is presented to the public. It Talvivaara's assets will be sold to the new company. This is sought by economic operators and the parent company will finance it. In this figure, there is practically nothing will change. - The most important thing would be that the mining and employment in Kainuu be able to secure, and the company could continue, Jaatinen said. Bankruptcy application was submitted to the District Court on Thursday morning. Pekka Pera said the parent company to the subsidiary's largest creditor. - Virtually all of the assets with the exception of the lime plant and laboratory, all the fixed assets and mining rights are Talvivaara Sotkamon the balance sheet. They are part of the bankruptcy mass. Creditors decide to pursue the Talvivaara Sotkamon action, Jaatinen said. Preference: Just yesterday we believed Pekka Pera believes Talvivaara outputs. - The administrator makes decisions on contracts. Both of our zinc and nickel product are very good, and they can be found buyers abroad, Stern assured. Jaatinen referred to the Talvivaara zinc contract Belgian buyers with Nyrstar NV. - The parent company and Nyrstar is still a common interest in finding a solution for this. Pekka Stern's view, Talvivaara is not worth it to open more, with whom financial advice bones could have been. - Only yesterday, it was believed that we can get funding järjestymään, but this morning it became clear that there is no money. It is right that the names told at this point, Stern said. Stern described the negotiating partners to be professionals and to understand the situation. - Yes, we do in the summer is more of an investment withdrawn from this luvitustilanteen unclear because Stern said. Creditors of the bone in your hand? Jaatinen described the Talvivaara applying for a "long-term solution." - The mortgage will have the right to demand payment of the mortgage value. Now, of course, the debate continues as to which kiinnistysten monetary value is Jaatinen said. - Talvivaara Sotkamon creditors should not be accrued distributions to,

i hope the old buy it for a euro scenario doesnt come into play here as that would sort the job situation out whch is probably more important to the govt than the 200m .. maybe not i hope not anyhow plus some 80,000 finns who are invested in this

no not yet . ive got 700k of these things so if this goes belly up i'll have to work until im 80 joys

if there is a hope i wonder if the agreement below would affect whether or not talv buy up sotkamo or its a compeltely new firm!

quick reminder Talvivaara Mining Company Plc is pleased to announce that its operating subsidiary Talvivaara Sotkamo Limited (collectively "Talvivaara" or the "Company") has entered into a long-term Zinc in Concentrate Streaming Agreement ("Agreement") with Nyrstar NV ("Nyrstar") (together, the "Parties") in line with the strategic guidance communicated at the Company's 2009 Capital Markets Day. Under the terms of the agreement, Talvivaara will deliver all of its zinc in concentrate production to Nyrstar until a total of 1,250,000 metric tonnes has been delivered (equivalent to approximately 2 million tonnes of zinc concentrate at a grade of 65%). Based on Talvivaara's production plans, the Parties expect a ramp-up to approximately 90,000 tonnes per annum of zinc in concentrate by 2012, with deliveries occurring over a period of 10-15 years. Deliveries are expected to commence in February 2010 Nyrstar will pay a purchase price of USD 335 million for the zinc stream. In addition, Nyrstar will pay Talvivaara an extraction and processing fee of EUR 350 per tonne of zinc in concentrate delivered (with escalators in relation to prices of elemental sulphur and propane). The Parties have also agreed the following price participation: until the later of the seventh anniversary of the agreement or delivery of 600,000 tonnes of zinc in concentrate, Nyrstar will pay to Talvivaara 10% of the LME zinc price exceeding USD 2,500 per tonne (up to USD 3,000 per tonne), and 30% of the LME zinc price exceeding USD 3,000 per tonne; and thereafter, Nyrstar will pay to Talvivaara 30% of the excess of the LME zinc price above the processing fee of EUR 350 per tonne of zinc in concentrate. Nyrstar has also agreed to supply to Talvivaara up to 150,000 tonnes of sulphuric acid per annum for use in Talvivaara's leaching process during the period of supply of the zinc in concentrate. The Agreement is subject to certain customary conditions, and completion is expected on or about 29 January 2010. With the Agreement, Talvivaara has secured an attractive long-term arrangement for its zinc by-product production. The USD 335 million upfront payment enables Talvivaara to completely refinance the existing Project Term Loan Facility, providing for significantly enhanced strategic and financial flexibility, appropriate for the Company's risk profile following the successful commissioning and ramp-up of our operations. The extraction and processing fee, together with the price participation formula, provides Talvivaara with a stable and secure cash flow profile and protects the Company's attractive cash cost positioning. In choosing to partner with Nyrstar, Talvivaara has achieved a mutually beneficial agreement for monetising the Company's zinc by-product, complementing the existing nickel and cobalt off-take agreement with Norilsk Nickel Harjavalta Oy. This transaction is a further endorsement of the Company's

Hi yamaha, when you order would you mind ordering 2 buckets we can save on the p and p

Hi JCB.. bet you do!!!!

big vote of confidence for the govt going on today and from what i read its going to be a close thing!

surely there's too much at stake here for a buyer not to be found. bit confused if they want a takeover or someone to lend the cash to talv mining who will them buy the subsiduary's assets. may b its the same thing.. govt stand to lose 200m plus all the other costs of financing the area where all the jobs will be lost etc which is a larger sum than the company actually needs to keep going. the govt haven't stepped in until now and i think the biggest problem is finding a mining co who can take the job on.. nyrstar you would think would be interested .. seems odd that this has come to this stage after so long

Finnish premier Alexander Stubb says that Talvivaara's bankruptcy need not be the end of the road for mining in Sotkamo. He wants a new, stable owner to take over the mine. The Finnish state will lose hundreds of millions of euros if the mining subsidiary company goes bust. Image: Heikki Rönty / Yle An application for bankruptcy, filed by Talvivaara subsidiary Talvivaara Sotkamo on Thursday at Espoo District court, is not the end of the road for mining in Sotkamo. That was the message from Prime Minister Alexander Stubb in parliament, speaking during question time. Stubb said that the government would do its utmost to ensure the mine could continue, if necessary under new ownership. Talvivaara's parent company had said on Thursday that it would continue to process nickel ore on the site while it looked for financing to buy back the subsidiary. "We're actively seeking a new operator from the mining industry, which is a solvent and competent operator that will take care of its environmental responsibilities," said Stubb. "Only this kind of strong, private operator can ensure both sustainable mining operations and sustainable jobs in the region." State has 200m to lose Minister for Employment and the Economy Jan Vapaavuori, speaking at a press conference, said that the Finnish government is prepared for all options--including bankruptcy. As the largest single owner of Talvivaara stock, with more than 15 percent of the shares, Vapaavuori said that the Finnish state would stand to lose some 200 million euros if Talvivaara Sotkamo went bankrupt. The company employs some 700 people, and Vapaavuori said that the Kainuu region would be eligible for structural adjustment support because of the job losses, if the worst happened and the company went bust. The administrator brought in to try and find a debt restructuring solution said at a press conference that he simply ran out of time. The company was burning through ten million euros a month and had no cash reserves to pay those expenses. End of the road The founder, CEO and third largest Talvivaara owner Pekka Perä agreed that his company had simply reached the end of the road, and that "we didn't manage to get things ready before this happened." Perä returned as CEO after a series of environmental leaks at the site. Recent reports by Long Play suggest that the company never managed to make its ground-breaking process work properly and that senior managers at the firm were aware of serious environmental problems. Police are now investigating senior Talvivaara management, including Perä, on suspicion of environmental crimes

it wasnt many weeks ago that my holding was worth over 42k if i tell the missus this has gone belly up at least i'll be back on the scene again

Hi JCB but your overall gut feel is that this wont fail and our shs albeit diluted will be given the opportunity to recover . or am I wrong

lets hope so .. if i only I knew our shs will still exist i would feel so much better

RE: nyrstar website nyrstar shs were down about 8% when i looked thats providing their not still suspended so far they have received something like 120k tons out of a total of 1.25m . a tad short still

no dont that thats right its says the following 'Lack of short-term working capital prevents a long-term solution, the Espoo-based parent said in a statement. Nyrstar NV (NYR) faces a 176 million-euro ($220 million) impairment charge if a Talvivaara supply deal is terminated, it said separately.' thats on bloomberg and Nyrstar website says their assets will have 176 m euros wiped off em

Regulated information 6 November 2014 Nyrstar ('Nyrstar' or the 'Company') wishes to update the market regarding its streaming agreement with Talvivaara Sotkamo Limited, a subsidiary of Talvivaara Mining Company Plc (collectively referred to as 'Talvivaara'). Talvivaara Sotkamo Ltd announced today that it has applied for bankruptcy under the Finnish Bankruptcy Act. Nyrstar intends to work closely with the bankruptcy Trustee upon appointment, and is continuing to work proactively with key stakeholders to determine the best approach forward. The Company's zinc streaming agreement with Talvivaara Sotkamo Ltd is guaranteed by the parent company Talvivaara Mining Company Plc. In the event that the streaming agreement is eventually terminated, no material operational and financial impact is anticipated on the Company, other than the non-cash impairment of the carrying value of the stream. As communicated previously, in the event that the streaming agreement is terminated, full impairment of the carrying value of the stream as at 30 June 2014 would reduce net assets by approximately EUR 176 million on and after tax basis. The Company will continue to offer operational support to Talvivaara Sotkamo Ltd during this process. Nyrstar will further update the market in due course.

Talvivaara Sotkamo, the subsidiary of Talvivaara responsible for the beleaguered mining operations in Sotkamo, will file for bankruptcy after failing to secure roughly ten million euros in short-term operating capital. Although trading on the shares of its listed parent company was suspended on Thursday afternoon, the fate of the subsidiary does not necessarily signal the end of Talvivaara. The fate of the mining company was sealed today after an investor told Talvivaara that it has decided against providing the operating capital, thus also causing the talks over a longer-term financing solution to collapse. Talvivaara Sotkamo is believed to have required some 150—200 million euros to replenish its empty coffers. Talvivaara expects its subsidiary to lodge the bankruptcy petition with the District Court of Espoo today. The parent company underlines that it will continue its operations for the time being, with the objective of taking over the mining operations and related assets from the bankruptcy estate. In order to do so, it will require additional funding.

Finnish nickel miner Talvivaara Sotkamo, the operational unit of Talvivaara Mining Co. (TLV1V), will file for bankruptcy as efforts to secure interim funding failed. Lack of short-term working capital prevents a long-term solution, the Espoo-based parent said in a statement. Nyrstar NV (NYR) faces a 176 million-euro ($220 million) impairment charge if a Talvivaara supply deal is terminated, it said separately. Talvivaara Mining was halted on Nasdaq OMX Helsinki, while Nyrstar, the world’s largest refined-zinc producer, was suspended in Brussels after dropping almost 4 percent. Talvivaara has sought funds from creditors and investors since filing for a corporate reorganization in November 2013 to try to avoid bankruptcy. The company has suffered from falling prices and a slow ramp-up at its mine in northern Finland. Pekka Jaatinen, administrator of the corporate restructuring, has given his consent to the filing, Talvivaara said today. The company needed at least 100 million euros to 200 million euros, according to a plan for an eight-year restructuring proposal filed in September that would have cut unsecured debts by 97 percent. Talvivaara Mining is seeking to secure enough money to buy the mining operations, associated assets and rights from the bankruptcy estate. Nyrstar, which agreed in 2010 to pay $335 million for all of Talvivaara’s zinc concentrate until 1.25 million metric tons was delivered, faces the charge by June 30. It has received 119,000 tons so far, a Nyrstar spokesman said today by phone. “Nyrstar intends to work closely with the bankruptcy trustee upon appointment and is continuing to work proactively with key stakeholders to determine the best approach,” the Brussels-based company said. “The company will continue to offer operational support to Talvivaara Sotkamo.”

Yes I always get confused when you have parent companies etc etc like here and got a bit lost on who actually owns who. Like you say my main reason for holding has been many fold but one of the main one's being who the largest shareholder is. It would be nice to see some sort of bounce on the Nickel px though and now would be a perfect time for that. ciao for now