ZincOx Resources has lost its AIM quote but has found a new project to keep it going We last wrote about ZincOx Resources in December 2016 and it read like a ‘For Whom the Bell Tolls’ yarn’. The headline read: “ZincOx Resources needs to find a new flagship project if it is to survive as an AIM stock”. Well, it has not survived as an AIM stock, for the time being. It’s admission to AIM was cancelled on April 28 2017. But it has survived as a viable company, a bit battered and worn perhaps but now in a recovery mode. ZincOx is a 17 year old UK –based company which was focused on zinc mining. It shed the last of its mining interests and in recent years has concentrated on deploying innovative technology to extract zinc from recycled electric arc furnace dust (EAFD) from steel plants. The company’s flagship project, near Pohang, South Korea’s leading steel city, came on stream in 2012 using EAFD, which is a hazardous waste and a cheap feedstock. The plant, called the Korean Recycling Plant one (KRP1), cost US$112million, with funding from ZincOx and its partner Korea Zinc Company (KZC), who planned to buy the recycled zinc on a long term agreement at a price based on the London Metal Exchange (LME) prices. Scrapped steel for recycling at ZincOx’s plants Photo: www.zincox.com Everything seemed hunky dory and a second plant KRP2 was mooted. But KRP1 was bedevilled by technical problems and these became acute during 2015. Specifically, profitability of KRP was compromised the frequent stoppages required to repair heat exchangers. To make matters worse, the commodities price crash in the second half of 2015 to a five year low of US$1,639 a tonne led to continuous losses which, in the absence of additional funding, led to a major restructuring of ZincOx’s ownership of the KRP asset, the result being that ZincOx’s interest was effectively reduced to 10 per cent as at December 2015. Then to make matters even more difficult KZC experienced further financial problems and a complicated debt restructuring involving US$7.95m in loan notes, during the tail end of 2016 and the early part of 2017 resulted in ZincOx’s interest in KCP becoming zero. The reduction of the company’s interest in its principal asset KRP meant under AIM Rule 15 ZincOx became a cash shell. Its shares were suspended from trading on October 31 and six months after this date unless there was a reverse takeover through the feeding-in of a new large asset, the shares no longer would be admitted to trading on AIM. Hence the cancellation on April 28. But although ZincOx was loss making to the tune of US$6m at the end of 2016, in February 2016 the company raised £205,000 and in June 2016 a further £300,000 by way of the issue of new shares at a price of 1p a share, representing a premium to the then market price of 82 per cent and 60 per cent respectively. So the group had some cash to play with. Moreover throughout 2016 the over-supply/ demand balance for zinc came back into kilter as some of the world’s largest zinc mines became exhausted. With demand picking up the price started to improve, comfortably reaching over US$2000 a tonne by 2016. With these two positives with them, the company proceeded with a new project. A Memorandum of Understanding (MoU) was entered into with the Korea Zinc Company 2016 for a Joint Venture (JV) over the Vietnamese Recycling and Upgrading Plant (VRUP), an arrangement approved by the Vietnamese government. Following the year-end on January 19 2017, a JVA was entered into between KZC and ZincOx, for the joint development of the recycling plant, the principal terms being that KZC would hold 51 per cent of the project and ZincOx the remaining 49 per cent. The VRUP is designed to have a capacity of 100,000tpa EAFD and cost about US$107m to develop. As for the shareholders following the AIM admission cancellation, ZincOx has appointed Asset Match, a Financial Conduct Authority (FCA) regulated group that will operate an electronic off market dealing facility for the ordinary shares. This facility will allow shareholders to trade their ordinary shares by matching buyers and sellers through quarterly auctions. ZincOx has said that shareholders should note that following the cancellation, even with such a trading service in place, there will be no public market or trading facility on any recognised investment exchange for shares and accordingly, the opportunity for shareholders to realise their investment will be limited. When they suspended last October the shares stood at 0.45p.
GOT A PAYOUT ABOUT 680% DAEL
AVOCET MINING - Important Information Removal of Shares. Important Information & Other Key Dates: Further to the Appointment of Administrators on 21st August 2019, we have received notification that the Avocet Mining shares are no longer eligible to be held within the UK Settlement System. We have therefore removed the Avocet shares from your account. Should we receive any distributions from the Company, we will notify you at that time. Please note, however, that there can be no certainty that such a distribution will be made. A certificated holding may be retained by the registrar. If this is the case, we will reflect this on your account although it may not be visible. Should you hold your shares in a ShareBuilder Account please be aware that upon receiving a certificated holding we will take the necessary steps to transfer the shares to your ShareDealing Account, in accordance with our Terms & Conditions. No fractions of shares will be transferred.
Re: WPCT Stream Log pmp exam training, pmp exam course, [link] Order real Toefl questions Saudi Arabia before exam date
Do check out our website for more details and latest updates on our campaign, if interested.
Hi all, we have just started our Woodford Campaign. We have these main objectives: to facilitate communication between Woodford investors to help affected Woodford investors seek compensation for their losses where possible to ensure that those who contributed to those losses through action or inaction are held to account to bring about changes in the regulations and regulatory enforcement to ensure this type of scandal does not happen again.
Re: Capella Minerals Ltd. – Symbols (TSXV:CMIL) & (OTC: NWDMF) & (FRA:N7D2) The Korelin Economics Report - Interview With Eric Roth Of Capella Minerals Limited Interview: [link]
Capella Minerals Ltd. – Symbols (TSXV:CMIL) & (OTC: NWDMF) & (FRA:N7D2) Capella Minerals Ltd. – Symbols (TSXV:CMIL) & (OTC: NWDMF) & (FRA:N7D2) Brand new company with lots of cash and seven different assets, details are below. Based on information from Sedar(Audited Info, formally known as New Dimension Resources), Stockwatch and their website: [link] Price: $0.09CAD - $0.07 USD - €0.04EUR Common Shares Outstanding: 137,523,077 Cash On Hand: $2.5 Million Market Cap: $11 Million Total Insider/Institutional Holdings: 30% or 41,256,923 – See Presentation for verification Current Free Trading Retail Float: 43 million shares. 60 million placement shares are restricted and will not be free trading until mid-January 2021. November 9th Company Presentation: [link] November 10th CEO Interview: [link] Capella Minerals has 7 different assets which allows for numerous ways to increase shareholder value: 1) Joint Venture With Yamana Gold(YRI.T) – Capella Minerals owns a 30% stake in a very advanced gold project, located in Manitoba, Canada. Their partner is a globally well known large cap gold producer who is taking this project very serious. As per Yamana’s last discussion notes “The Company recently signed an exploration agreement with the Bunibonibee Cree Nation (“BCN”) that provides a framework for a cooperative, mutually respectful agreement supporting the advancement of exploration within the Traditional Territory of the BCN while providing employment and business opportunities to the BCN. Planning is underway to guide the consultation process for an initial field program in the fourth quarter and an aggressive exploration effort in 2021. An update on Yamana's generative exploration projects is expected in the fourth quarter. “ 2) Joint Venture With Ethos Gold(ECC.V) – Capella Minerals has optioned it’s 100% owned Ontario, Canada gold project to Ethos Gold, a company that recently raised several million dollars to work on this asset and some others. In exchange for 70% of the project, Ethos Gold must issue 8 million shares over 3 years, along with $200,000 in cash and $2 million in work commitments. They will not get 70% of Savant Lake unless all requirements have been fulfilled. 3) 100% Owned Southern Gold Line property in Sweden - This is already a well established area that has producing mines and can allow for more accurate drilling in the near future. Main commodity being looked for is gold. To be drilled in early 2021, please see company interview. 4) 100% Owned Lokken VMS Property in Norway – Copper/Silver/Zinc/Gold area, this property literally encompasses an old producing mine. Therefore, it is in advanced stages and odds of successful drilling is quite high. To be drilled in early 2021, please see company interview. 5) 100% Owned Kjoli VMS Property in Norway – Similar to the property mentioned above, this lease has numerous small scale mines that already operate around it. Once again showing that the area is rich in metals and odds of success are increased because this is not virgin ground. To be drilled in early 2021, please see company interview. 6) Joint Venture With Austral Gold(AGLD.C) – This deal was closed last month, basically selling 80% of Sierra Blanca to Austral Gold for $800,000 in cash and work commitments. Capella only owns 20%, which can be bought for $2.3 million in cash and work commitments. See October 13th news for more information 7) Asset sale to Cerrado Gold – Announced October 28th, this is the most recent news. Capella Minerals has sold two properties to Cerrado Gold( www.cerradogold.com ) in exchange for $50,000 cash and $2.25 million worth of Cerrado gold shares. This company will be publicly listed by the end of 2020, they are using the shell company BB1 Acquisitions Corp (BBA.P) to put the asset in.
Re: DGO Stream Log Hi Peter, did you find anything out about this. I've just dug out a share certifcate from 1997 also.
What happened ? Tullow - once considered (by some) to be the glory boys of the oil sector - down to a mere shadow of itself after its hey day in 2010 ? What happened ??
Not much interest on this forum, but good discussion on the BLU moderated thread on advfn bulletin board. Guild eSports IPO on Friday could have a significant affect on BLU's sp.imo
Re: BLU Stream Log SatoshiPay are going to announce the launch of their B2B payments on Tuesday according to their twitter account. We could see some big volumes of buying over the next few trading days.
Great news about the Guild IPO this morning
TODAYS NEWS FROM YAHOO BELOW
Divestiture strategy on track Portfolio includes prescription products in Takeda’s Cardiovascular/Metabolic and Anti-inflammatory therapeutic areas along with Calcium Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) ("Takeda") today announced that it has entered into an agreement to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to Cheplapharm. Cheplapharm is a specialty pharmaceutical company headquartered in Germany with a 25-year history of successfully acquiring, integrating and growing pharmaceutical products. Takeda will receive an upfront payment of approximately $562 million USD, subject to customary legal and regulatory closing conditions. The portfolio to be divested to Cheplapharm is comprised of non-core prescription pharmaceutical products in a variety of therapeutic categories sold predominantly in Europe and Canada. This includes Cardiovascular/Metabolic and Anti-Inflammatory products along with Calcium. The portfolio generated FY 2019 net sales of approximately $260 million USD. While the products included in the sale address key patient needs in these countries, they are outside of Takeda’s five key business areas. With a more focused portfolio, the divestiture further enables Takeda’s Europe & Canada Business Unit (EUCAN) to focus on and drive strategic core growth areas. In April 2020, Takeda announced to divest EUCAN’s non-core over-the-counter (OTC) products to Orifarm Group. Giles Platford, President, EUCAN, Takeda, said, "These divestments represent another important milestone in our portfolio simplification and optimization strategy as we position Takeda for continued success across our five key business areas: Gastroenterology (GI), Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience. We are pleased to have found a partner in Cheplapharm who shares our commitment to patient care and has the experience and resources to continue investing in these important products well into the future for the benefit of patients." Costa Saroukos, Chief Financial Officer, Takeda, said, "Today’s announcement allows Takeda to continue to be patient-focused as we streamline and optimize our portfolio according to our global long-term strategy. While the trusted products included in the sale address key patient needs in these countries, they are outside of our core business areas of focus. We are confident that Cheplapharm is the right partner to ensure patients continue to have access to these products." The sale of these non-core prescription products supports Takeda’s continued divestiture program. Last month, Takeda announced an agreement to divest Takeda Consumer Healthcare Company Limited to Blackstone for approximately $2.3 billion USD. In June, Takeda agreed to divest a portfolio of non-core assets sold exclusively in the Asia Pacific region to Celltrion for up to $278 million USD; in April, Takeda announced the sale of non-core OTC products in Europe to Orifarm Group for up to approximately $670 million USD, including the sale of two manufacturing sites in Denmark and Poland; and in March, Takeda announced the sale of non-core products in Latin America to Hypera Pharma for $825 million USD, as well as completed the previously announced sales of non-core assets spanning the Russia-CIS region to STADA and in countries spanning the Near East, Middle East and Africa region to Acino. Transaction Details There are no anticipated employee transfers in connection with this transaction. The transaction is expected to close by the end of Fiscal Year 2020 (ending March 2021), subject to the satisfaction of customary closing conditions and receipt of required regulatory clearances. Until then, the products will continue to be made available to patients and manufactured and supplied by Takeda. Takeda intends to use the proceeds from this transaction to reduce its debt and accelerate de-leveraging toward its target of 2x net debt/adjusted EBITDA within Fiscal Year 2021 to 2023. Takeda is committed to rapid deleveraging driven by strong cash flow and divestiture proceeds, while also simplifying our portfolio. Takeda is being advised by J.P. Morgan as our financial advisor and White & Case is our legal advisor in this transaction. About Takeda Pharmaceutical Company Limited Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.
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