 Peal Hunt:
Ferrexpo (Buy, TP 120.0p) - Tightening the ratchet on Zhevago via a rather clumsy court ruling
Further to the various claims that arms of the Ukrainian Government has made against Ferrexpo's main operating subsidiary, Ferrexpo Poltava Mining, it looks to us as if the government is trying to up the pressure on Zhevago in relation to claiming back the government support made to his failed bank. The latest salvo is a District Court grant to a request from the Prosecutor's office that a 49.5% stake in FPM be transferred to Ukraine's recovery fund. Coincidentally this is the same stake as Zhevago owns in Ferrexpo, but since Zhevago owns shares in Ferrexpo PLC, which is outside Ukraine's jurisdiction, aiming at Ferrexpo's operating subsidiaries is the best that Kyiv can do. We also wonder if this is a final set of efforts to recoup the monies from Zhevago ahead of potential elections in Ukraine following a peace settlement, as the present government feels it is running out of time to secure recompense for the support rendered to Zhevago's failed bank.
We remain of the view that attacking in this manner a group that has worked steadily to sustain production, support its workforce and local communities through maintaining salaries and via charitable grants is not a particularly 'good look'. Similarly, given that we suspect significant Western support would be needed to assist the reconstruction of urban areas of Ukraine, expropriating a portion of a company in part owned by Western shareholders creates a diplomatic wrinkle that Kyiv could probably also do without right now. At present no transfer request has yet been received by Ferrexpo nor has the court decision been communicated to Ferrexpo, so the company is so far unable to take a view on how such a decision might be appealed. We remain convinced that Ferrexpo will energetically appeal the ruling. |
* UKRAINE MOVES TO SEIZE ZHEVAGO'S STAKE IN FERREXPO CORE ASSET |
EUA was smashed 30% Why did fxpo not slam down |
Trump V Zelensky - interesting how the British news, even the channel for 'alternative' news GB News all reeled out Ukrainians to be interviewed who said how Trump humiliated Zelensky while the U.S. News, which I think correctly said, how for the first time a world leader Challenged Zelensky which Zelensky didn't like and didn't know how to handle. |
White House Press Secretary Karoline Leavitt confirmed that the US and Ukraine didn’t sign the minerals deal, according to White House pool notes of her statement.
The deal was to have been concluded during Vladimir Zelensky's visit to Washington, after talks with US President Donald Trump. However, Zelensky engaged in a heated argument with Trump and US Vice President JD Vance during a televised question-and-answer session ahead of the talks. He later left the White House without comment, with Trump saying that Zelensky was not ready for peace and disrespectful to the US.
Zelensky is too use to getting his own way which doesn't happen with Trump as Trump is also use to getting his own way. |
r88ave26 Feb '25 - 11:42 - 11657 of 11662
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it makes you wonder whether FXPO is part of deal with US?
I've been thinking along the same lines. Presumably within the deal might be a net positive depending on the percentage Trump might take and the timespan.
🇺🇸 🚛 🚚 ⛏️ |
Poltava ores ...hmm 🤔🤓 |
All very interesting and worth reading the links below but when it comes to corruption, Trump obviously don't care about such petty considerations if it feathers his own nest. THE DEAL, supposedly to be finalised this week must surely include some degree of military security for Ukraine and NOT just a payment for services rendered and then for the US to just walk away.
Interestingly, in respect of Ukraine's reserves of rare earth minerals, a substantial portion are located in regions currently under Russian occupation. I expect Trump and his new buddy Putin have decided that Russia can keep those and the US can have the rest as a condition of some shoddy peace deal. And if Trump can sever the friendhip between Russia and China and make Russia and US new best buddies as part of the deal then they can carve up the spoils and see off the threat of China. Kill two birds with one stone. Genius!!
Alright, over-simplification but not beyond the realms of impossibility.
What a week in global politics and political machinations. Let's just enjoy being the pawns and let the back row of superior movers win the game. |
My last post goes for the Israeli genocide in Gazza too, Gekko.
I would be delighted if Trump insisted on a return on US 'investment' in Israel. Perhaps shift the Israeli's to theGaza strip after they have killed all the Palestinians, and the USA take the rest of Israel and the West Bank?
Hope that does not reduce the esteem in which you currently hold me! |
it makes you wonder whether FXPO is part of deal with US?
some big buys this morning and a little spike suggest a possibility |
Jeez, what on earth has happened....
Agree with your last 4 posts 1knocker.
Don't encourage Arja, he likes the attention.
Probably why he resorts to calling people "Uncle Toms" or "Coconuts" if they exhibit any Conservative stances.... |
Arja, I am a realist who dislikes senseless killing, destruction, and corruption. |
1knocker ,
it seems you might admire Putin based on your posts if i am reading between the linescorrectly . Were you a brexiteer as i could not imagine any remainer not condemning the monster , Putin ?:) |
Yeah. The Russians are winning, it seems. |
Yesterday for the first time in a very long time the Ukrainians didn't launch any drone strikes to Russian territory or on Russian territory while Russia launched a record number of drone strikes on the Ukraine. |
It's OVER for FXPO |
Much of the loot taken by Zelensky and his mob most probably has gone to Cyprus as like with the Russians is where many Ukrainians call their second home and stash their ill gotten gains - and Cyprus is a EU country. |
It would be good if the huge sums of money looted by Zelinsky and his supporters could be confiscated and returned to Ukraine to help with the costs of reconstruction, but my guess is that is all in Israel, so there is not much chance of recovering it. |
Interesting, loganaire, but I would not hold your breath for Russia to contribute to the rebuilding of any territory outside the territory ceded to Russia.
I am also a bit baffled by the 'rare earths' demand. Firstly rare earths are not particularly rare. It is refinement and processing of the which is difficult, expensive (and a bit noxious). Secondly, I am not comvinced hat Trump wants any dependency on Ukraine, or any interests there which would call for military protection /military guarantee of any settlement.
I agree that Zelinsky has got to go. Georgia was invited to open a second front and declined. It has learned the lesson (a) not to rely on promises from the west (b) that t is a mug's game become anyone' proxy in someone else's war and (c) that reasonably sympathetic neutrality with Russia is perfectly possible.
It is the west which says 'if you are not 100% with us, you are agin us'. Look at the EU ultimatum to Georgia 'Condemn Russia and join in sanctions against Russia, or forget your EU membership aspirations'. |
Zhevago comes out fighting. Not sure how much good it will do against a corrupt state. |
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