Emed Mining Share Discussion Threads

[cufes2] 30/12/2014 21:27

I'm no guru deme1 . . . However, in comparison to yourself I can see why you might make that mistake . . .

[wanderer1210_0] 30/12/2014 21:02

Come on Deme, fools gold is entitled to his point of view just as much as you are, there's no point in the pair of you getting digs at each other

[frogkid] 30/12/2014 20:49

So how come the gurus are not posting !LOL!!

[wanderer1210_0] 30/12/2014 20:39

DuchafI totally agree 100%

[duchaf] 30/12/2014 20:25

Wanderer - Re 'the observer' - my read is that new BoD members need to be voted in - he is an observer until the next opportunity to add new members (probably an EGM re. the financing)

[mronions] 30/12/2014 19:42

There is a cease fire ... Christmas day football match

changes have taken place

Middle ground is to take to production

nothing we can do about interference of the past

Matsa / Emed have always been close (same people)

[mronions] 30/12/2014 19:36

revolving doors. start up team gone . production team in. interests aligned .

[cufes2] 30/12/2014 19:34

I'm surprised bookworm1 is relaxed given Trafigura's increased involvement now . . .

[mronions] 30/12/2014 19:32

@hg very good point

[mronions] 30/12/2014 19:26

spoken to BW . very relaxed. all good.

[head gardener] 30/12/2014 19:23

Without Transfigura's interest Emed would be at the mercy of Orion and XGC and funding from them has always been at further share dilution, they are not benefactors.

[cufes2] 30/12/2014 19:07

If like Trafigura you have a massive slug of cash in the bank you could make better use of it by lending it to EMED at a decent interest rate in a low risk project . . . after all, that is what they are doing ATM with the "bridging" loan . . .

[acamas] 30/12/2014 18:55

paulie1,

Something here does not compute. Looking back it was said EMED do not want Traf. to dictate terms through their wallet. It was suggested Traf. became annoyed when IQ rebuffed their financial advances and had a slanging match in his office with their Rep.

Now after reading that RNS where does it say Traf have any form of Director on the Board. All they definitely have is an observer. Would anybody like to spell out how the Board will look come next March, please

[stockknobjockeyvanbookstino] 30/12/2014 18:52

CuFeS2,

I think you will find that their returns would be maximised by the use of external debt, its called leveraging.

[wanderer1210_0] 30/12/2014 18:52

IMO the observer will only be there until Traf have a place on the board, which will happen pretty soon

[paulie1] 30/12/2014 18:50

Could it just be a thrashed out compromise? No room on the board but as we getting loads of dosh they said he can have an observer

[mronions] 30/12/2014 18:48

don't see the gloom as u guys , but then I've seen the buyer (add 1m + during recent slump) so I've been speaking to someone confident .

[acamas] 30/12/2014 18:41

Saint-B,

Can you help me out then if Traf. have a non executive member of the Board what purpose does their observer fulfill. An observer cannot vote or get involved in any verbal matters so why do they require an observer and a non executive director on the Board. I find this overkill and confusing

[saint_b] 30/12/2014 18:31

Acamas. I think you are correct about the observer position for Traf.however, the remainder of the statement seems, IMO, to indicate that there will be one non-executive appointment and two executive positions, one from Trafigura and one from Orion. This seems to confirm that Trafigura and Orion will be major contributors ( and beneficiaries?) to/from the financing. I am puzzled as to where XGC fit in if they are not expected to nominate someone, notwithstanding Harry Liu`s existing non-executive position. I do not read into the statement anything that indicates they will not be around after Phase one funding is complete.

[acamas] 30/12/2014 17:51

"The Board expects to make additional appointments (including the appointment of an additional non-executive director together with nominees from Trafigura and Orion) in the first quarter of next year following the finalisation of funding arrangements for Phase 1 of the Project."

Your views please on my understanding here

Traf. can have an observer at Board Meetings so long as their shareholding does not drop below 15% of total EMED shares in issue but not a Director on the Board.

Now the item at the start of this post reads to me that they have a special requirement after the finalisation of Phase 1($30 million) funding consisting of a non executive director and nominees from Trafigura and Orion. Does that mean once funding phase is complete these peoples requirements at Board meetings are no longer required.

Also where is this non executive director coming from a Bank or The Chinese because the accurate answer to this question may decide how the $100 million funding will be based

Over to you