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  • 1 year later...

A Scheme of Arrangement ....all capital except that of Soul Patts (33%), to be acquired at 3.2c a share by some London based manager; the CD Capital Fund - a global private equity resources and mining fund

 

Nice premium.

 

- as evidenced, it's really hard for minnows to get projects off the ground. [this one, Ammaroo Phosphate]

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A sentiment captured in the RUM thread a while back:

 

"the chairman of RUM has been damning in his recent speech about Australia...."

"The year under review has been one of complexity, reflecting firstly, negative investment attitudes, and secondly positive achievements by the Company. Examining the first, the falling investor sentiments in the junior and mid tier mining and exploration sector has been accentuated by falling commodity prices, and an unacceptably high cost structure in Australia. Further, increasing red tape in Government approvals and land rights issues, in some cases involving sovereign risk, have added to the complexity. Seen in the eyes of potential overseas investors and partners, the Company management team is constantly advised by such people that Australia at the moment is simply uncompetitive. This does not mean that things will not change."
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  • 3 years later...

Verdant Minerals is one of the companies operating in the Georgina Basin. 

In recent years it has changed its strategy from simply mining and exporting rock phosphate, to building a processing facility on site capable of producing 1 million tonnes of ammonium phosphate fertiliser each year.

Verdant Minerals is due to complete its definitive feasibility study later this year and has obtained major project status from both the federal and NT governments.

If all goes to plan, Mr Tziolis said production would start in 2026. It is a big project, $2 billion worth of capital.

Graph showing fertiliser prices

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On June 21st, 2019, Verdant Minerals Limited (VRM) was removed from the ASX Official List in accordance with Listing Rule 17.11 following implementation of the scheme of arrangement between VRM and its shareholders in connection with the acquisition of all the issued capital in VRM other than those held by Washington H. Soul Pattinson and Company Limited by CD Capital Natural Resources Fund III LP in accordance with Listing Rule 17.11

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