Question Maybe more than a few days ?
The indicated date for the Shareholder meeting as per the "Divestment of Hamersley Iron Ore Project" announcement:
Dispatch - Notice of Meeting - 21st July
Date of Shareholder Meeting - 13th August
Answer 5 Days is a few Days, meeting notes will show us what we are voting on/for
Question I think ! Considering you are one (of the "company can do no wrong supporters")
AnswerWrong, you mistake supporting the board of Directors ( And I do ) ( And no I do not need to explain to anyone) for "company can do no wrong" PF1's performance to date has been way too slow, for very little result of substance agreed. But the spin off of the Iron Ore has now shown there hand, and I'm backing that 100%
Comment That will at least present a resemblance of a constructive counter debate based less on pure ramping and more on available public information.
Answer Agreed, I'm not much for the BS, some people on both sides of the debate need to check their emotions at the door, it's not healthy for debate or IMO the posters themselves.
QuestionAs Pathfinder "talks the talk" about Shareholder value/wealth and the project is so good why didn't they want to progress Hamersley?
AnswerI have no idea, but to be fair the asset value ( As pointed out by yourself ) was written down to nil. So a huge win IMO, PF1 get $7mill in shares, between 5,950,000 and 6,650,000 performance shares and a fixed royalty of USD$0.70 per metric tonne ( All going to plan)
Question Everything the company is doing to help "Equinox" re: mainly shareholder approval, which was one of 3 conditions the ASX required, for them to progress Hamersley to the benefit of Pathfinder shareholders. - Will the company need to get shareholder approval to provide funds (interest free loan) that wasn't included in the Prospectus?
Answer Dispatch - Notice of Meeting - 21st July, only a couple days and we will find out what's being voted on. But I would imagine shareholders would need to vote yes ( I will be ) to approve the loan that will be paid back ( If IPO is successful ) out of their raised funds.
Question What benefit does Pathfinder shareholders get for providing interest free loans?
AnswerThe chance for PF1 shareholders to hopefully see ( And benefit ) through their stake in Equinox, and see Hamersley iron ore project move forward. Also PF1 to re-focus on their Gold leases and ( If any ) other acquisitions in the pipe.
QuestionThe loan is providing funds for expenses attributed to Equinox's IPO, how will these funds be re-couped if the IPO is not successful?-
AnswerGood question ! My thoughts are that is the gamble we take to move Hamersley forward. ATM it's a nil value dead rubber on PF1's books. Do I think Hamersley is really nil value, of course not, but my opinion is worth squat, likes yours and others on this thread.
Could we lose the IPO loan, yes of course we could, but really what's the difference between that and some rubbish drill holes in the total risk of things. I know what one id put my money on, and it would not be a drill bit in any company, these odds look great to me the IPO will go ahead.
QuestionWith all the difficulties to get Hamersley progressed, and the reasoning why Pathfinder didn't progress it as per Company announcements and the Geological report, why is there so much optimism that Equinox can?-
AnswerThe team and management of the new company is the simple answer.
Equinox Resources Limited Board of Directors
Mr Daniel Taylor will be appointed as an Executive Director of Equinox.
Daniel is a senior international commodities sales and marketing executive with 20 years’ experience across iron ore, industrial minerals, ocean freight and logistics. He has an extensive senior global network and has built relationships to secure offtake and joint ventures to underpin project financing and equity markets funding for large private and publicly listed groups.
He has held senior executive positions with Roy Hill, Anglo American, Atlas Iron and Rio Tinto.Mr Callaghan was the founding director of Riversdale Mining Limited (formerly ASX: RIV) which sold to Rio Tinto for $3.9 billion. He has a significant base of global resources experience with Rio Tinto and Xstrata that included roles in the USA, Canada, Chile, Brazil, and AustraliaI think even the most sceptical would say the new boss is no mug, and a specialist in Iron Ore from all accounts
Question If the IO remains low quality and high impurities as per the announced JORC, what % discounts over those quoted in the Mine Gate study would you anticipate? and if these imperfections are consistent, would you foresee difficulty getting offtakes as end users are heading towards higher quality / less imperfections.-
Answer Only Mr Daniel Taylor the new Executive Director of Equinox would have the expertise in all those areas, and the intimate knowledge of the market players to truly answer that question.
It would be fair to say Mr Taylor has made himself well know to the Hamersley project before he took the job, and it seems obvious to me, he does not look like the type of person that takes on the job for 200k wage, he looks legit and used to winning, or maybe he is a fan of the PF1 thread Lol, who knows.
QuestionWill IO still be in the "super cycle" before Equinox could get ore to the end user?
Answer I believe yes it will, the super cycle has legs for some time yet, but again who am I ! All investors run that risk, no matter what there investment.
Thats it man, I think all will be revealed in the notice of meeting to see what we are all voting on, until then its all a bit of a nothing nothing !
(20min delay)