Author Topic: ALS.TO - Altius Minerals  (Read 1744342 times)

Dazel

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nostradamus

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Re: ALS.TO - Altius Minerals
« Reply #901 on: November 20, 2012, 09:18:05 AM »
Obviously there is the potential for some signficant near-term newsflow that could have a positve effect on the stock price (eg Kami feasibility study and subsequent funding, Julienne lake proposal).

But another thing that had dropped off my radar was their NLRC interest. This is clearly less significant than the above, but may not be immaterial. From the altius website:

On November 20, 2009 the Court accepted an NLRC proposal to the creditors for a project care and maintenance plan for up to 36 months and dismissed all further requests for creditor's claim adjustments for voting purposes. NLRC continues to seek qualified interested parties for the potential purchase of its refinery project and associated permits

So the creditor standstill ends around now. Looking back at their annual reports it seems that Altius have a $30m secured loan to NLRC on the books at zero. From their 2008 report:

In December 2007, the Corporation loaned $30,093,000 in the form of a convertible demand loan to NLRC. The non-interest bearing demand loan is secured by the assets of NLRC and is convertible at the Corporation’s option into 1,440,000 shares of NLRC. NLRC used the funds to make a milestone payment to IJK consortium regarding the purchase of steel and manufacture of heavy wall vessels, which are considered long-lead time items required for the proposed oil refinery project.

Does anyone on the board have any more information on this that might help work out how much Altius could get back? Or whether NLRC are likely to apply for a further extension of the creditor protection?

N.

beerbaron

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Re: ALS.TO - Altius Minerals
« Reply #902 on: November 20, 2012, 12:27:49 PM »
Obviously there is the potential for some signficant near-term newsflow that could have a positve effect on the stock price (eg Kami feasibility study and subsequent funding, Julienne lake proposal).

But another thing that had dropped off my radar was their NLRC interest. This is clearly less significant than the above, but may not be immaterial. From the altius website:

On November 20, 2009 the Court accepted an NLRC proposal to the creditors for a project care and maintenance plan for up to 36 months and dismissed all further requests for creditor's claim adjustments for voting purposes. NLRC continues to seek qualified interested parties for the potential purchase of its refinery project and associated permits

So the creditor standstill ends around now. Looking back at their annual reports it seems that Altius have a $30m secured loan to NLRC on the books at zero. From their 2008 report:

In December 2007, the Corporation loaned $30,093,000 in the form of a convertible demand loan to NLRC. The non-interest bearing demand loan is secured by the assets of NLRC and is convertible at the Corporation’s option into 1,440,000 shares of NLRC. NLRC used the funds to make a milestone payment to IJK consortium regarding the purchase of steel and manufacture of heavy wall vessels, which are considered long-lead time items required for the proposed oil refinery project.

Does anyone on the board have any more information on this that might help work out how much Altius could get back? Or whether NLRC are likely to apply for a further extension of the creditor protection?

N.

Here is the update I got from Chad about 2 months ago:

Quote
Sorry for the tardy reply.  NLRC remains in creditor protection and as per our quarterly MDnA filings on pg 9 - http://altiusminerals.com/uploads/fs_1331242067.pdf
 

“…NLRC

The Corporation currently holds a 39.6% equity interest in NLRC, a private company that has earned permitting rights to and proposed the construction of a new 300,000 barrel per day crude oil refinery at Southern Head, Placentia Bay, Newfoundland and Labrador, Canada. NLRC is currently operating under a creditor standstill period with a mandate to sell its assets or complete financing of the project.

NLRC continues to seek out a strategic partner or buyer for the refinery project. Efforts of late have focused mainly on Asian based state owned interests.”
 
There have been a lot of legal challenges in the structure of the Legal Claim filed by SNC and as such the Claim is yet to be heard by the Court and probably never will as it will die due to lack of credence.
 
No news because there has been little to report and at this stage of the Claim it is essentially immaterial from an Altius perspective.
 
If you like to better understand please feel free to call me at 1.877.576.2209.
 
Regards,
Chad
 

BeerBaron

Dazel

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Re: ALS.TO - Altius Minerals
« Reply #903 on: November 20, 2012, 03:25:57 PM »
http://www.gurufocus.com/news/198413/gmos-jeremy-grantham-third-quarter-letter--on-the-road-to-zero-growth

This thread will specifically be interested in his continued tremendous concern for long term resource scarcity and how high the cost of these could rise..

Dazel.

beerbaron

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Re: ALS.TO - Altius Minerals
« Reply #904 on: November 20, 2012, 03:35:35 PM »
Anybody has the latest Iron Ore spot price? I wish it could be easily available...

BeerBaron

Dazel

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Re: ALS.TO - Altius Minerals
« Reply #905 on: November 20, 2012, 03:43:45 PM »

$121/mt

It has been around this price for a month....


Dazel.

beerbaron

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Re: ALS.TO - Altius Minerals
« Reply #906 on: November 20, 2012, 05:01:10 PM »
Weird why is Alderon being valued lower every day then...

BeerBaron

Green King

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Re: ALS.TO - Altius Minerals
« Reply #907 on: November 20, 2012, 05:11:57 PM »
Don't know.

Maybe Mr. Market want us to exploit his emotions.
Or it can be in the stars.

Fear ?
Fraud ?
or Free Money ?


:)

http://www.nasdaq.com/symbol/axx/short-interest
« Last Edit: November 20, 2012, 05:25:57 PM by Green King »
GK

Dazel

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ItsAValueTrap

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Re: ALS.TO - Altius Minerals
« Reply #909 on: November 20, 2012, 07:56:25 PM »
Here is one place to look at the spot pricing for iron ore:
http://www.infomine.com/investment/metal-prices/iron-ore/

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. " -Buffett

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