The merger completion was postponed to June 30, 2010.
EN did not extend the exercise of the option by the Chinese group to invest in the Caldag Project. EN subsequently notified shareholders that it has entered into an understanding with a consortium of European banks for the funding of the project. Shareholder are not happy with this development. Share of EN has dropped from a high of 10 pence to about 6+ pence.
Meanwhile its good news for us employees of the local company of Rusina. The share options given to us will be converted to fully paid shares of EN. According to the merger agreement, 5 Rusina shares will be exchanged with 4 EN shares with a premium of a minimum of 20%? Even though the shares given are not much, its will become significant in the near future when the project pushes through.
Thursday, May 20, 2010
Friday, May 7, 2010
Recent events
The company i am working with is merging with a European firm. The name of the European firm will be retained, our company' s name will be erased forever but our managing director will be retained as the MD for the merged entity.
For us employees, we really are not sure whether it is a good development or not. What matter it seems is the ability of the new management team to raise funds for our projects here in the Philippines and elsewhere.
The merged company will push for the funding of the mine project in Caldag, Turkey. The project is far advance in its funding stage while the project here in Zambales is about to begin the Bankable Feasibility Study. The Turkey as well as the local project involve the recovery of nickel metal from the ore by way heap leaching, a low capital process of nickel recover from laterites compared to the traditional High Pressure Acid Leach (HPAL) method.
For us employees, we really are not sure whether it is a good development or not. What matter it seems is the ability of the new management team to raise funds for our projects here in the Philippines and elsewhere.
The merged company will push for the funding of the mine project in Caldag, Turkey. The project is far advance in its funding stage while the project here in Zambales is about to begin the Bankable Feasibility Study. The Turkey as well as the local project involve the recovery of nickel metal from the ore by way heap leaching, a low capital process of nickel recover from laterites compared to the traditional High Pressure Acid Leach (HPAL) method.
Tuesday, April 6, 2010
Still here
And so i am still here with my present employer since Sept. of 2006. I mentioned before that i made the best decision of my life. I am now close to 4 years and still counting. With the blessings of God i hope i will be here for so many years from now. In fact i am thinking of my second retirement from here.
But its not that easy. You see many occasions of tremendous pressure from management to deliver on time work deliverables. But its okay since you will be forced to do your best it that happens. There were very few days when there were no deadlines to meet. On positive note, i consider these as challenges to push yourself to your limits and innovate on how to get things done.
Till next time.
But its not that easy. You see many occasions of tremendous pressure from management to deliver on time work deliverables. But its okay since you will be forced to do your best it that happens. There were very few days when there were no deadlines to meet. On positive note, i consider these as challenges to push yourself to your limits and innovate on how to get things done.
Till next time.
Sunday, April 4, 2010
Hi there
Hi there,
It's been a long time now since my last post. I thought that this blog has long been removed. Until just now when my son reminded me that this blog still exist. So here i am again.
From my last post, 3 years ago? i am still stuck with my present employer. And i somewhat come to like my present job. As i mentioned before, and as implied in the title of my blog, it is appropriately termed awakening. In the sense that i stayed with my last employer for 26 years. Actually i retired from there. A friend of mine who worked in the same company i worked with offered me an opportunity to work with him. It was a hard decision on my part. Bu just thinking of the fat salary i would be receiving, and largely because i was then eligible for retirement, i accepted the offer even for a short contract of three months only. What convinced me is the four times bigger salary from my last employer. So even if, assuming i work only for three months, it is already equivalent to 12 months salary with my former employer. That's it.
Till next time.
It's been a long time now since my last post. I thought that this blog has long been removed. Until just now when my son reminded me that this blog still exist. So here i am again.
From my last post, 3 years ago? i am still stuck with my present employer. And i somewhat come to like my present job. As i mentioned before, and as implied in the title of my blog, it is appropriately termed awakening. In the sense that i stayed with my last employer for 26 years. Actually i retired from there. A friend of mine who worked in the same company i worked with offered me an opportunity to work with him. It was a hard decision on my part. Bu just thinking of the fat salary i would be receiving, and largely because i was then eligible for retirement, i accepted the offer even for a short contract of three months only. What convinced me is the four times bigger salary from my last employer. So even if, assuming i work only for three months, it is already equivalent to 12 months salary with my former employer. That's it.
Till next time.
Thursday, October 11, 2007
Awakening
I have long been wanting to express my feelings concerning recent events in my life.
Firs, my job.
Thank God i made the right decision a few months back. I could not imangine how i can cope with the financial needs of my family had i stayed with my former employer. Though it pays just right, it is not enough for my needs. The only thing that comforts me is that it supported me for the last 27 years. I never regret it. But sometimes when i see my comrades and peers in a better ecoonomic sitaution i cannot but envy them. Anyway i am now eher i should be. Or are there better?
Firs, my job.
Thank God i made the right decision a few months back. I could not imangine how i can cope with the financial needs of my family had i stayed with my former employer. Though it pays just right, it is not enough for my needs. The only thing that comforts me is that it supported me for the last 27 years. I never regret it. But sometimes when i see my comrades and peers in a better ecoonomic sitaution i cannot but envy them. Anyway i am now eher i should be. Or are there better?
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