girgish1
عضو نشط
نزل تقرير نهاية السنة اليوم الجمعة
http://biz.yahoo.com/e/070406/arsd.ob10-k.html
وهذا ما يتعلق بنشاط الشركة في مجال التعدين بالسعودية
با عتقادي ولست متأكدا, إن الشركة راح تستفيد كثيرا بعد طرح أسهم شركة معادن للإكتتاب لأن لها حقوق إمتياز ولابد من تعويضهم
MINING SEGMENT. This segment is in the development stage. Its most significant asset is the Al Masane mining project in Saudi Arabia, which is a net user of the Company's available cash and capital resources. As discussed in Item 2. Properties, implementation of the project was delayed over the years until open market prices for metals to be produced by the mine improve. With current prices at acceptable levels, the Company has located investment partners and is proceeding to establish the mechanism for development of the mine.
Management also is addressing two other significant financing issues within this segment. These issues are the $11 million note (the "Note") due the Saudi Arabian government and accrued salaries and termination benefits of approximately $1,023,000 due employees working in Saudi Arabia.
The Note was originally due in ten annual installments beginning in 1984. The Company has not made any repayments nor has it received any payment demands or other communications regarding the Note from the Saudi government. By memorandum to the King of Saudi Arabia in 1986, the Saudi Ministers of Finance and Petroleum recommended that the Note be incorporated into a loan from Saudi Industrial Development Fund to finance 50% of the cost of the Al Masane project, repayment of the total amount of which would be made through a mutually agreed upon repayment schedule from the Company's share of the operating cash flows generated by the project. The Company remains active in Saudi Arabia and received the Al Masane mining lease at a time when it had not made any of the agreed upon repayment installments. Based on its experience to date, management believes that as long as the Company diligently attempts to explore and develop the Al Masane project no repayment demand will be made. The Company has communicated to the Saudi government that its delay in repaying the Note is a direct result of the government's lengthy delay in granting the Al Masane lease and requested formal negotiations to restructure this obligation. Based on its interpretation of the Al Masane mining lease and other documents, management believes the government is likely to agree to link repayment of the Note to the Company's share of the operating cash flows generated by the commercial development of the Al Masane project and to a long-term installment repayment schedule. In the event the Saudi government demands immediate repayment of the Note, which management considers unlikely, the Company would be unable to pay the entire amount due at the present time. It is management's intent to transfer the Company's debt obligations under the Note to ALAK with the mine assets at the appropriate time.
آخر سعر 6.10
والله أعلم
http://biz.yahoo.com/e/070406/arsd.ob10-k.html
وهذا ما يتعلق بنشاط الشركة في مجال التعدين بالسعودية
با عتقادي ولست متأكدا, إن الشركة راح تستفيد كثيرا بعد طرح أسهم شركة معادن للإكتتاب لأن لها حقوق إمتياز ولابد من تعويضهم
MINING SEGMENT. This segment is in the development stage. Its most significant asset is the Al Masane mining project in Saudi Arabia, which is a net user of the Company's available cash and capital resources. As discussed in Item 2. Properties, implementation of the project was delayed over the years until open market prices for metals to be produced by the mine improve. With current prices at acceptable levels, the Company has located investment partners and is proceeding to establish the mechanism for development of the mine.
Management also is addressing two other significant financing issues within this segment. These issues are the $11 million note (the "Note") due the Saudi Arabian government and accrued salaries and termination benefits of approximately $1,023,000 due employees working in Saudi Arabia.
The Note was originally due in ten annual installments beginning in 1984. The Company has not made any repayments nor has it received any payment demands or other communications regarding the Note from the Saudi government. By memorandum to the King of Saudi Arabia in 1986, the Saudi Ministers of Finance and Petroleum recommended that the Note be incorporated into a loan from Saudi Industrial Development Fund to finance 50% of the cost of the Al Masane project, repayment of the total amount of which would be made through a mutually agreed upon repayment schedule from the Company's share of the operating cash flows generated by the project. The Company remains active in Saudi Arabia and received the Al Masane mining lease at a time when it had not made any of the agreed upon repayment installments. Based on its experience to date, management believes that as long as the Company diligently attempts to explore and develop the Al Masane project no repayment demand will be made. The Company has communicated to the Saudi government that its delay in repaying the Note is a direct result of the government's lengthy delay in granting the Al Masane lease and requested formal negotiations to restructure this obligation. Based on its interpretation of the Al Masane mining lease and other documents, management believes the government is likely to agree to link repayment of the Note to the Company's share of the operating cash flows generated by the commercial development of the Al Masane project and to a long-term installment repayment schedule. In the event the Saudi government demands immediate repayment of the Note, which management considers unlikely, the Company would be unable to pay the entire amount due at the present time. It is management's intent to transfer the Company's debt obligations under the Note to ALAK with the mine assets at the appropriate time.
آخر سعر 6.10
والله أعلم
