No the Defered Payment looks to be capped at $25m
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IF and when they start, i like the plus inflation bid, S/E know this takes a long lead-up time to production, wish NZO management where half as smart.
Good exercise to practice patience for real staunch nzo S/H, THEY WILL NEED IT.
Doubt whether Solid Energy will mine Pike in the foreseeable future .... they have got some cheap infrastructure including what there is at Ikamatua etc and maybe help Bathhurst out .... and leave the coal in the ground at Pike maybe forever
So maybe really only $7.5m and the receiver (or somebody else) will need to hang around to collect any of the $25m if they do start extracting coal one day
Given the conditionality of the sale agreement, NZOG does not currently
expect that this transaction will impact materially on NZOG's results for 30
June 2012.
Or 30 June 2013-14-15 ETC.????
Just out of curiosity can the NZO Mang. now disclose what it pays the receiver per month if any till the completion of the deal, or is that still Industries sensitive classified information?
Will the $7,5 mil. be enough to cover the amount, NZO has sunk into this Receivership Adventure.
I don't believe managementare incompetent, they know exactly what they are doing by giving away our shareholder's money away to their own mates
to Ian... yes you are correct.
to balance.... you are correct also.
im assuming here.... there was an insurance payout of 80 odd mill that nzo used to payout all sorts of folks and BANKS.... so lost a fair bit of dosh there. the buyers dont care where that cash went, but im sure they put that into their equation of how much to offer for PRC.
so 80 mill + 27mill is a 100 odd mill for an unknown damaged destroyed mine.
with the risk ALL on SE to rebuild, restart, recover bodies, redesign... safely and operate profitably a mine that has huge potential but still huge problems regarding DOC and the grennies. so in that respect..... they offered what they did, and it seems the best offer..... nzo board had a chance to bid also and if they did...... their offer was less than SE's as SE won the tender.
sort of makes me wonder what is going on in the boardroom??
my opinion is that the boardroom needs to cleaned out..... if nzo is ever to move forward.
i have lost all respect for the board.
and i am now seriously worried about the chairman.
i would like to sell my holdings in this co, but would lose a lot of money, and i know there are many more folks out there in a worse position than me.
i guess..... all those like me sitting on a loss a hoping something positive is coming soon, and the reality is....... there seems nothing on the horizon.... even the divi stream is dry or below bank rates.
i am seriously worried about my investment and yet shareholders still keep voting in favour of the boards directions and decisions.
my simple question is...... is this company like a warped alice in wonderland story?
or im such a simpleton that i cant fathom that the "experienced" board is actually very smart and i cant understand that?
.......smart people.
If you pay $7.5m for a $1b resource, there is no need to mine it, ever.