Prairie Mining Share Discussion Threads

[plentymorefish] 07/10/2018 10:33

Kindly posted on lse……



Nice to see the Deputy Energy Minister mention PDZ in a positive way

[lord gnome] 28/9/2018 08:24

Spot on plenty - and the threat of a legal wrangle with the Polish government keeps away anyone else that might just be interested in doing a deal with Prairie. JSW have a buyer's market.

[plentymorefish] 28/9/2018 08:14

Indeed....a bird in the hand and all that versus waiting for 'justice' and getting tied up in knots for years etc. Call me cynical but isn't that what's driving this from the Polish end? IMO of course!

[lord gnome] 28/9/2018 08:11

100p would be daylight robbery, but I'll take it with a smile on my face and move on.

[lord gnome] 28/9/2018 07:47

Cut from today's annual report RNS. This sets out the current situation of the talks with JSW. Hopefully we will have a bid agreed during October. I am still hoping for a very merry Christmas.

Possible Co-Operation between Prairie and JSW

During the year, Prairie and JSW entered into a Non-Disclosure Agreement ("NDA") with respect to potential co-operation regarding Prairie's two Polish coal projects. The purpose of the NDA was to allow for the exchange of technical and commercial information in order to facilitate substantial and more advanced discussions regarding any potential transaction(s) options in respect of Prairie's projects.

Subsequent to the end of the year, Prairie noted press articles regarding comments by representatives from JSW on possible transaction(s) between the Company and JSW with respect to Prairie's Polish coal projects.

The Company advises that discussions continue to take place as part of the exchange of technical and commercial information. Commercial discussions continue to be at a preliminary stage and that even if they move onto discussions of specific transactions terms there can be no certainty as to whether any transaction(s) will be agreed, or the potential form of such transaction(s). The Company expects further exchange of information will continue with JSW.

In the latest public statement made by JSW, they reported that their due diligence had been finalised and, together with their advisors, were working on an asset valuation. They also disclosed that their completed technical due diligence of Debiensko and Jan Karski showed that both these projects meet JSW's expectations as to the quality of coal. JSW also announced that further steps towards a possible transaction between Prairie and JSW would likely take place in October.

Any potential transaction(s), should they occur, may be subject to a number of conditions including, but not limited to, obtaining positive evaluations and expert opinions, necessary corporate approvals, consents and approvals related to funding, consents from Poland's Office of Competition and Consumer Protection (UOKiK) if required, and any other requirements that may relate to the strategy, objectives and regulatory regimes applicable to the respective issuers.

The NDA, signed at the end of March 2018, provides for the initial due diligence process to be conducted until the end of September 2018, which may be extended by mutual agreement of both parties. Commercial discussions, if any, may then take place subsequent to September 2018.

[lord gnome] 19/9/2018 22:31

Thanks, plenty. Looks as though we won't be getting a detailed offer this month after all. Yet more patience needed.

[lord gnome] 19/9/2018 16:49

Getting a bit jiggy today. A decent rise on good volume with lots of small buys. Have I missed any news or a tip somewhere? We should be hearing more on the deal with JSW any day now.

[lord gnome] 12/9/2018 09:04

Hopefully just an attack of nerves for some holders and that our deal is still intact. We might know something within a week. We'll just have to sweat it out and keep our fingers crossed. Pity, I had such high hopes for this investment.

[plentymorefish] 12/9/2018 08:18

Yes, LG, I saw that too. It's beginning to feel more like a gamble than an investment! Interesting thing is I thought investing in a company operating in Europe would be a relatively safe bet compared to other parts of the world where 'skulduggery' and 'intrigue' can interfere with commerce, ho hum!

[lord gnome] 12/9/2018 08:03

Having done a little bit of digging, it would appear that the sudden burst of selling may be something to do with the future of the CEO of JSW. A story has appeared in the Polish press to the effect that the Polish government wants to sack him, but that he is being protected by the trades unions. The way I see things, any threat to him is a threat to our proposed deal, hence the fall in the share price.

[lord gnome] 11/9/2018 15:07

This could be one of three things. A few nervous holders selling out. Insiders trying to sell out in expectation of a poor deal. A tree shake to gather some cheap stock. As to which it is, I haven't a clue.
Fib, the absence of investors piling in here in expectation of a decent deal is the one factor that has kept my own enthusiasm in check.

[plentymorefish] 11/9/2018 08:05

Well it's not looking good this morning, under 28p to buy!

[fibonacci01] 11/9/2018 07:32

LG, thanks for your input much appreciated. However, if £1 per share was to be expected wouldn’t we all be piling in here buying 1000’s upon 1000’s of shares? Surely the cold reality of the situation indicates this ain’t gonna happen!

[lord gnome] 10/9/2018 22:54

Difficult to know, fib. The Polish government wants Polish control of the two projects and have been putting the legal squeeze on PDZ. JSW are the only buyer in town, so we will have to wait and see what they offer. Euros300 million would be worth £1 per share and I see that as the bare minimum and a steal at the price. It is also just 10% of the npv as per PDZ.
FWIW, I think we will come out of this ok. We won't have long to wait.

[fibonacci01] 10/9/2018 21:46

Interesting developments... What happens in these circumstances?
I assumed JSW would eventually come along with their offer which represents fair valuation of our assets and everyone would be happy...Or doesn't work like that!
I assume pdz and their shareholders are protected in some way as not to be robbed of our investment.
For JSW to grow they defo need pdz assets. Not experienced this sort of situation before so would definitely appreciate any help and guidance... EEK! Still holding but is this squeaky bum time or do I need not worry? Thanks in advance.. GLA

[plentymorefish] 10/9/2018 19:05

Looks like it was for worse, for now!....lol

[plentymorefish] 07/9/2018 13:16

Yes, seems odd. I took 45k in shares for better or worse!

[lord gnome] 07/9/2018 09:06

Just tried a dummy buy to test the market. No real shortage of stock. Quoted 34.7 to buy 40,000. Strange?

[lord gnome] 07/9/2018 08:55

Fully diluted, PDZ will have around 284 million shares in issue. A bid at £1 per share would therefore value the company at £284 millions. The stated NPV of their two projects is around Euros 3.4 billion. A bid at £1 would therefore be a steal for JSW. I am hoping for a bit more. A bid at half the NPV would be around £5 per share. Nice but unlikely, so I would guess it will be somewhere between the two. Exciting times, no?

[plentymorefish] 07/9/2018 08:32

This news is from yesterday, possible takeover but at what price?

hxxp://www.branduk.net/prairie-mining-jsw-bid/

I'll start the bidding at 100p

[ballymoss18] 06/9/2018 17:29

Nice move up into the close with some healthy buying.Lets hope for some news soon!

[plentymorefish] 28/8/2018 13:07

PDZ gets a mention on Vox Markets today from Alan Green - starts at 46.45 minutes in....

hxxps://audioboom.com/posts/6986806-sdx-energy-sdx-europa-metals-euz-predator-oil-gas-prd-and-alan-green-on-pdz-staf-euz-imcp

Sounds positive

[lord gnome] 28/8/2018 07:34

Leaky ship indeed. Right on cue, today's RNS. I haven't been able to find anything in the media, yet, so I am assuming it is in the Polish mining press.

Update Regarding Discussions
on Possible Co-operation with JSW

Further to Prairie Mining Limited's ("Prairie" or "Company") announcement on 29 March 2018 on the possible co-operation between Prairie and Jastrzębska Spółka Węglowa SA ("JSW"), Prairie notes recent press articles regarding comments by representatives from JSW on possible transaction(s) between the Company and JSW with respect to Prairie's Polish coal projects.

The Company advises that discussions continue to take place as part of the exchange of technical and commercial information as referenced in the Company's announcement on 29 March 2018. Commercial discussions continue to be at a preliminary stage and that even if they move onto discussions of specific transactions terms there can be no certainty as to whether any transaction(s) will be agreed, or the potential form of such transaction(s). The Company expects further exchange of information will continue with JSW.

Any potential transaction(s), should they occur, may be subject to a number of conditions including, but not limited to, obtaining positive evaluations and expert opinions, necessary corporate approvals, consents and approvals related to funding, consents from Poland's Office of Competition and Consumer Protection (UOKiK) if required, and any other requirements that may relate to the strategy, objectives and regulatory regimes applicable to the respective issuers.

The Company will continue to comply with its continuous disclosure obligations and will make announcements to the market as required.