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  1. #10861
    Member brucey09's Avatar
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    Did NZO management start this move regarding unsecured ones or follow recievers advice?

  2. #10862
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    Quote Originally Posted by minimoke View Post
    What they have done is bough a pile of good will which has seen NZO rise $12m on that tide. NZO probably have a hint that the sale of PRC will be for more than $40m so they'll get all their loan cash back - its possibly about positioning themselves in the sale process
    Yes that ties up with this bit from STUFF. Wonder if the current Indian part owners of Pike are having a look at bidding as well.

    The deal was announced amid growing signs that the mine will return to commercial production.
    PWC said several interested parties were conducting due diligence, and receivers would ensure the new owners would continue attempts to recover the bodies "and ultimately to recommence commercial mining activity".
    Kokshoorn said he was aware of interest in the mine from companies from India, China, Australia and New Zealand.

  3. #10863
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    Quote Originally Posted by brucey09 View Post
    Did NZO management start this move regarding unsecured ones or follow recievers advice?

    Not the receivers idea apparently:

    John Fisk, of receiver PricewaterhouseCoopers, said it was the first time he had seen such a payment. "NZOG has shown a huge amount of sympathy towards what has happened and the impact that it has had on creditors, particularly on the West Coast".

  4. #10864
    ShareTrader Legend Beagle's Avatar
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    Yes NZO are very altruistic with your money, (remember the $12m donation when it
    was obvious to all that PRC were insolvent) and pay all their "heavily strengthened"
    management team extremly well indeed...for what exactly I'm not sure as the only
    projects they're involved in that actually generate returns are managed by other parties.

    No doubt the insurance proceeds will come in handy for D.S's golden handshake when
    it comes time to farewell him for his fantastic world class performance over the years.

    TR continues to ensure this company remains a goldmine for directors and
    management for his remaining tenure, and if you're lucky you might get the odd
    crumb in the way of a pathetic dividend every now and again.

  5. #10865
    Senior Member blockhead's Avatar
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    Have you just been round to (un) balanced's place for a cuppa Rog ??

  6. #10866
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    Roger/Balance, you must be aware that management and directors hold many shares. It makes no sense that they wouldn't want dividends....when appropriate.

  7. #10867
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    Hi Blockhead, maybe they're such good mates as to be one and the same !

  8. #10868
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    They must be both "Nigel no mates" Perhaps they could wipe each others chins?

  9. #10869
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    Quote Originally Posted by LIO View Post
    Roger/Balance, you must be aware that management and directors hold many shares. It makes no sense that they wouldn't want dividends....when appropriate.
    That's true, but maybe not that many that have been bought at market. Some of these criticisms have a ring of truth, unfortunately.

  10. #10870
    Member Snapper's Avatar
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    As a long-suffering mushroom, oops I mean shareholder I don't get all this vitriol towards Balance. If my shares were north of $2 with dividends rolling in on a regular basis then I could understand the criticism but unfortunately Balance has been right all along about NZO. Bugger!

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