Worthington Group - WRN Stream Log

one day your posts will make sense and use proper English....oh yes i forgot your a Ranger fan aren't you

looking forward to the end of November when WRN will become a conglomerate worth millions

LSE down Andy hence no comments

[link]

this was taken from The GMM proposal The Board has engaged in negotiations with Greenland Mining Management Ltd (“GMM”) which is a United Kingdom based Company established with the aim of taking over NunaMinerals. Since the suspension of payments as of 15 May, the GMM consortium funded the Company’s operations to a value of more than 1.5 mDKK, including covering the costs of Supervisors, the preparation of the annual report 2014 and to Deloitte for audit of the annual report. A completion of the proposed refinancing by the GMM consortium of the Company requires that the consortium acquires the majority of the Company's shares and thus control of the Company. This requires support from shareholders in a general meeting. GMM intends to initially provide the Company with 10 mDKK immediately after the general meeting, to secure additional funding so that the Company's operating and exploration budgets are secured three years ahead. Key elements of the proposal by the GMM consortium relate to changes in the management of the Company, the resumption of trading of the Company's shares at the Nasdaq OMX Copenhagen and that the Company is removed from the observation list. It is the plan that the refinanced Company will then be used in connection with acquisitions of mining companies abroad with major mine production as well as companies from other branches, whereby the Company gains a diversification both geographically and into other sectors. The anticipated acquisitions include advanced mining projects in Alabama and Virginia, USA. Whilst the GMM consortium intends that NunaMinerals diversifies its scope of investments and acquisitions into other geographic areas and sectors, GMM intends that it will remain committed to mining projects in Greenland and these will continue to be a core area of interest. Profits that will be generated by the acquired subsidiaries and producing assets, as well as finance received from the creation of joint partnerships in Greenland, will be used to help finance existing and new business activities in Greenland. Greenland remains an area of particular interest to GMM and the consortium.

that why its taking ages

The GMM proposal The Board has engaged in negotiations with Greenland Mining Management Ltd (“GMM”) which is a United Kingdom based Company established with the aim of taking over NunaMinerals. Since the suspension of payments as of 15 May, the GMM consortium funded the Company’s operations to a value of more than 1.5 mDKK, including covering the costs of Supervisors, the preparation of the annual report 2014 and to Deloitte for audit of the annual report. A completion of the proposed refinancing by the GMM consortium of the Company requires that the consortium acquires the majority of the Company's shares and thus control of the Company. This requires support from shareholders in a general meeting. GMM intends to initially provide the Company with 10 mDKK immediately after the general meeting, to secure additional funding so that the Company's operating and exploration budgets are secured three years ahead. Key elements of the proposal by the GMM consortium relate to changes in the management of the Company, the resumption of trading of the Company's shares at the Nasdaq OMX Copenhagen and that the Company is removed from the observation list. It is the plan that the refinanced Company will then be used in connection with acquisitions of mining companies abroad with major mine production as well as companies from other branches, whereby the Company gains a diversification both geographically and into other sectors. The anticipated acquisitions include advanced mining projects in Alabama and Virginia, USA. Whilst the GMM consortium intends that NunaMinerals diversifies its scope of investments and acquisitions into other geographic areas and sectors, GMM intends that it will remain committed to mining projects in Greenland and these will continue to be a core area of interest. Profits that will be generated by the acquired subsidiaries and producing assets, as well as finance received from the creation of joint partnerships in Greenland, will be used to help finance existing and new business activities in Greenland. Greenland remains an area of particular interest to GMM and the consortium.

10m danish krona

ive seen it somewhere i will need to do some more digging

£10m is the package deal