Talvivaara Mining Co.

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Re: Talvivaara Mining Co.

Berichtdoor charliesheen » 08 Aug 2015 12:42

Finnish govt rescues bankrupt nickel mine

The Finnish government said it will take control of efforts to restart the troubled nickel mine Talvivaara following failed talks with potential private investors. Talvivaara is going through debt restructuring while its key subsidiary, which owns the mining assets, last year applied for bankruptcy protection following a drop in nickel prices, production disruptions and environmental problems. The government said a new state-owned company, Terrafame, with budget injections of 209 million euros ($228 million), will buy the mining assets and will aim to restart the mine next month in order to avert further environmental damage at the site in northern Finland. It said it was still searching for private investors and might close the mine if no deal can be reached within two years. British investment firm Audley Capital Advisors in March signed a conditional agreement to invest in the mine, but it failed to arrange financing and pulled out of the project. "We aim to expand Terrafame's ownership base, and negotiations with private investors continue," Economy Minister Olli Rehn said. Talvivaara listed in 2007 aiming to become Europe's biggest nickel mine by pioneering an extraction process called bioheapleaching. But repeated production problems were compounded when the mine leaked waste water, causing one of Finland's most serious environmental disasters. The government said it was continuing talks about the listed parent company's possible role in Terrafame. Talvivaara shares, suspended from trading, are owned by about 80,000 Finnish retail investors. ($1 = 0.9152 euros)
Talvivaara employees have state-rescue decision delighted and relieved. Chief Shop Steward believes that the mine problem is solved. State's decision to save the Talvivaara mining gets praise Talvivaara's personnel chief shop steward Jukka Vetolalta. - Workers and the firm's point of view this was a good solution, and certainly the only one which, for example, these metal prices were realistic, Vetola says Taloussanomat. According to him, the Talvivaara employees have received the news with relief and rejoicing. The Ministry of Employment and the Economy reported today that Terrafame Mining to buy a state-owned mine in Talvivaara's business. The Talvivaara Sotkamo bankruptcy workers who are transferred to the employ of Terrafame Mining. "Problems can be solved yes" The mine has suffered during the operation of the many problems. For example, the four leaders of the Talvivaara is accused of aggravated impairment of the environment. Vetolan According to technical problems the mine has already been largely resolved. For example, the mining area to the water situation facilitates the leading wastewater discharge pipe Nuasjärvi Enable.
kbc - ageas - SBM - - Arcelor - talvivaara :-/

No regrets.


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Re: Talvivaara Mining Co.

Berichtdoor charliesheen » 08 Aug 2015 12:43

Mine operations Talvivaara Mining bought Terrafame appointed today, Friday the members of the Board of Directors, which is to be raised from a bankrupt operation profitable. Chairman of the Board of Directors initiated an experienced professional Industrial Lauri Ratia. Board members include Esa Lager, as well as Tuomo Mäkelä. The Ministry of Employment and the Economy praises of their skills today in a statement. Ratia has "decades of experience in business restructuring". Lager again has "worked for a long time in industry and the financial sector of the economy, finance and risk management in different positions." Tuomo Mäkelä background of Employment and the Economy, says that he "has been a board member of several mining development and production companies and technical expert in mining finance projects." The Ministry mentions the release, inter alia, from Outokumpu Mining Oy, whose managing director is Mäkelä. Ministry of leave without telling statement that Mäkelä has a background bankruptcy in the past, Talvivaara Sotkamo, which the state bought. Commercial Registry documents show that Mäkelä sat on the mining company's board first spring 2004 to summer 2006 and autumn 2008, after restructuring and bankruptcy until now. HS.n According to Mäkelä was one member of the Board of Directors, signed by the mining company filed for bankruptcy in 2014. Talvivaara Sotkamo filed bankruptcy petition in November 2013 and filed for bankruptcy in November 2014. Talvivaara's bankruptcy was transferred to a public statement in December 2014. Talvivaara has never been able to produce nickel, far from 50 000 tonnes a year - even if it so investors once promised.Minister of Economic Affairs Olli Rehn (center) believes that the state can get a new state-owned company, Terrafame Mining allows even invested a considerable part of the Talvivaara mine money back. "The state can gain a significant part of, but, frankly, certainly not everything. Talvivaara is already in direct budget funding have been used. Indirect costs have also emerged significantly." Labor and elinkeinoministriö today announced the arrangement in which the Terrafame Mining to buy Talvivaara Sotkamo bankruptcy estate of the mining business. The new Chairman of the Board of Directors was appointed by Lauri Ratia. "Now it's about minimizing the damage and the fact that we strive to seek a commercially viable solution that will help at the same time to solve the major water and environmental problems Talvivaara," said Rehn. Rehn also contemplates that Talvivaara has the potential to reach a commercially viable enterprise. "It has the potential, if the business and operational activities is put in place in case of environmental problems solved, and if the price of nickel begins to develop even a reasonably favorably," said Rehn. "At least all Terrafame Mining executives and employees of Talvivaara are aware that this is now a showcase." According to Rehn, without private investors Talvivaara is not in the long run, however, operating conditions. "It is clear that Talvivaara can not be endlessly rotated by state funds, but mine is to be profitable, and it has to involve private investors. It is a condition for the Talvivaara mine in the business can continue in the long strainer," said Rehn.
kbc - ageas - SBM - - Arcelor - talvivaara :-/

No regrets.

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Re: Talvivaara Mining Co.

Berichtdoor charliesheen » 08 Aug 2015 12:43

Talvivaara bankrupt public administrator Jari Salminen says that the new state mining company Terrafame Mining can be purchased in person know-how and machinery and equipment, listed Talvivaara outside. Therefore, the stock market Talvivaara mine in participation is not necessary. "The buyer certainly needs a certain know-how and operations , and for some it they buy ," State funds in Talvivaara Sotkamo Ltd says the bankruptcy estate cope with Salminen .
kbc - ageas - SBM - - Arcelor - talvivaara :-/

No regrets.

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Re: Talvivaara Mining Co.

Berichtdoor charliesheen » 08 Aug 2015 12:51

80 000 Talvivaara money may disappear once and for all
If The Talvivaara small investors are not included in the new company, their investments are finally gone, says the president of the Confederation of Shareholders Timo Rothovius.
Some of the Talvivaara shares that owned small investors would be willing to participate in the new mining companies, says Chairman of the Shareholders of the Central Timo Rothovius.

- The owners of about 80 000. It is a huge number, and I believe that this part of the gang could be found who would be willing to continue to accentuate the fund, Rothovius says Taloussanomat.
Unless they are not included, investments are finally gone. Many would like to save the investment.

The Ministry of Employment and the Economy (MEE) today announced that Terrafame Mining to buy a state-owned mine in Talvivaara's business. The company will become the mining operator in Sotkamo.

The fact that the mining companies have not been found outside, looks Rothoviuksen of the bad.
TEM: in the state, however, the aim is to get mine in private financing and ownership. Ministry's bulletin does not, however, refer any listed company Talvivaara's participation in the new company.

Rothoviuksen according to a stock exchange, Talvivaara should be a shareholder in the new company. According to him, the company has announced that it will be able to obtain more funding.

Rothovius hopes that the company give even the opportunity to acquire funding.
kbc - ageas - SBM - - Arcelor - talvivaara :-/

No regrets.

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Re: Talvivaara Mining Co.

Berichtdoor Geert » 09 Aug 2015 14:51

wat zou dit concreet in houden voor de aandeelhouder?

David1972
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Re: Talvivaara Mining Co.

Berichtdoor David1972 » 13 Aug 2015 16:51

Stock Exchange Release

Talvivaara Mining Company Plc

13 August 2015

Talvivaara enters into an agreement with Terrafame Mining Oy on provision of services

Following the bankruptcy of Talvivaara Sotkamo Ltd, Talvivaara Mining Company Plc ("Talvivaara" or the "Company") has financed its operations by providing administrative and technical services and by leasing certain critical machinery and equipment to the bankruptcy estate of Talvivaara Sotkamo under agreements entered into by the Company and the bankruptcy estate on 19 November 2014. Talvivaara has on 13 August 2015 signed an agreement on transferring the agreements to Terrafame Mining Oy, a company fully owned by the Finnish state-owned company Terrafame Oy. According to the agreement, Talvivaara will continue to provide the services on the same terms as previously applicable between the Company and the bankruptcy estate. The agreement is subject to completion of the transfer of the Sotkamo mining operations from the bankruptcy estate of Talvivaara Sotkamo Ltd to Terrafame Mining Oy.

Talvivaara continues its business with the target of securing sufficient financing to participate in the acquisition of the Sotkamo mining operations or securing a different financial and/or operative arrangement that will secure the continuance of the Company's eligible business and provide the best possible outcome for the stakeholders of the Company.

Enquiries

Talvivaara Mining Company Plc Tel: +358 20 712 9800

Pekka Perä, CEO

Pekka Erkinheimo, Deputy CEO

Freddy
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Re: Talvivaara Mining Co.

Berichtdoor Freddy » 13 Aug 2015 18:34

Geert schreef:wat zou dit concreet in houden voor de aandeelhouder?


als aandeelhouder moet men er op hopen dat de mijn wordt verkocht aan een prijs die hoger ligt dan de uitstaande schulden/obligaties en de kosten van het faillissement. aan de huidige grondstoffenprijzen en het feit dat het vooral de Finse overheid blijkt die de boel probeert te redden, is de kans op een hoge overnameprijs beperkt.

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Re: Talvivaara Mining Co.

Berichtdoor Geert » 14 Aug 2015 08:16

Onlangs werd hier vermeld dat toekomstige openingskoers 0,1144 € /aandeel zou zijn. Dus hier moeten we niet meer op hopen? Zou Talvivaara ooit nog beursgenoteerd worden?

Freddy
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Re: Talvivaara Mining Co.

Berichtdoor Freddy » 14 Aug 2015 11:41

Geert schreef:Onlangs werd hier vermeld dat toekomstige openingskoers 0,1144 € /aandeel zou zijn. Dus hier moeten we niet meer op hopen? Zou Talvivaara ooit nog beursgenoteerd worden?


ik kan natuurlijk geen uitspraken met zekerheid doen, alleen maar mijn mening geven over de publieke informatie

maar uit de posts hierboven blijkt dat men voor een piste zou gaan waarbij de mijn wordt verkocht aan een nieuw bedrijf. dit betekent dat alle schulden van de mijn bij de verkoper blijven en dat alle toekomstige opbrengsten naar de koper zullen gaan. gelet op de situatie ziet het er ook niet echt naar uit dat dit aan een goede prijs zou gebeuren.

en de aandeelhouders zouden natuurlijk als allerlaatste aan de bak komen.

eerst heb je de personeelsleden, banken, pandhouders en aanverwante schuldeisers met een zekerheid
dan heb je de gewone schuldeisers zoals wellicht Nyrstar (tenzij die bij de voormelden zou horen)

Nyrstar heeft zijn schuldvordering van een stuk boven de 200 miljoen EUR al enige tijd geleden volledig afgeboekt naar 0, wat impliceert dat ze met grote waarschijnlijkheid verwachten 0 EUR te zullen zien.

de zinker
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Re: Talvivaara Mining Co.

Berichtdoor de zinker » 27 Aug 2015 10:51

http://inpublic.globenewswire.com/2015/ ... 1331056414" onclick="window.open(this.href);return false;