George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Https://www.sidley.com/en/insights/newsupdates/2023/10/a-tale-of-two-chapters-recognizing-the-significant-differences-between-ch-15-and-11-bankruptcy-cases
look like there is a big difference to chapter 11 where the lenders are allowed to seize all asset for what they are owed ?
so it look like there is still hope for a litigation process for shareholders / Stakeholders in an English court, if the lenders bid is the only one in town ? as the effected country judge will have the final say'' USA can only recommend, but FK knows, perhaps someone with more skin in this hype of affair can take a second look at the link above so us mere mortals can better understand it
REGARDS
Is that rick with a silent p.
I concur.
Even the 2 famous ponzi frauds, Bernie Madoff I believe investors got 50% back and Allen Stanford investors recovered 75%.
"but of all similar cases what % see a good result? And after how many years? "
Come on, keep the faith.
Have a Read Up on: Burford Capital (BUR on this BB) v. Government of Argentina, who nationlised a company YPF overnight.
Years later BUR (litigation) won a Court Case in USA and have been awarded $16Billion - it may give you all a feel good factor - hope so.
Well Exxon certainly were seen regularly in Cole Creek area in 2023 so why not?
Come on ExxonMobil, you know you want too. 😏
Probably 50% less than that!
Hopefully Exxon just chuck 500m bid in
Dusthater not true as you have been rogered.
Finwithtrader, thank you. As a LTH I've crossed the two sides of my heart in hope, but the two sides of my brain wouldn't cross in the same way... ...Anyway GLA and let's see how it pans out.
"the evidence that Michael Cotter has at his disposal "
I wonder if he has the Ryder Scot report and what he makes of it.
Fish, for once I agree.
The investigation into Richardson and Avavio has been displayed all over this board and the evidence is with the lawyers and the authorities. It is overwhelming and damning legally.
Now it’s Arthur’s turn. He’s had enough chances in the past 3 months to speak publically. To support PIs in the real value of the company. The JV, GGS, new find, Carbon capture - the list goes on and on. However Arthur has decided he doesn’t want to do that. He wants to stay hidden.
Unfortunately, his own history has been documented so many times and his own written RNS and interviews, Wyoming hearings all run contrary to the current position.
His arrogance in emailing and texting PIs over the years with the assumption that only he was sophisticated enough to understand the game will now be his downfall. All of those digital footprints left by him. Recorded conversations…
He of course could now try to mitigate this growing anger. Anavio and Richardson are already burned and the forensic team have plenty of zeal to investigate everything going back a decade.
So either you step out of the shadows and mitigate the next steps by ensuring this sale is not just to Summit and your own side company or you will be following Richardson.
The evidence should be compelling, there is enough of it sloshing around..
Some think they are untouchable due to getting away with it previously.
Well, now they are up against the "unsophisticated" COPL investors....
Good Luck and keep your chins up.
Except Whadda there are many group actions that are successful every single year. Also the majority are settled in advance of any court proceedings, particularly where the weight of evidence means that the defendants would be foolish to allow a trial to happen.
Setfords have a track record of winning these cases. They always look for cases where the evidence is written and in the public domain. Where clear criminal or contract breaches have occurred.
If you’ve read any of the information that has displayed even on LSE, then you know a small fraction of the evidence that Michael Cotter has at his disposal before going into negotiations with those involved.
So for all those people who are being told that you cannot win, well you can, and you will. Don’t be put off. Don’t be told it’s not possible. Just keep supporting the efforts of the CAG and posters on here and get ready for next steps.
“If the SL got our company for free ..”
It’s not OUR company though is it? It belongs to the SL as they sit senior secured.
Arguably there was never any value in the shares whatsoever, hence why only us Pis bought and bought as we were stupid enough to believe that fat cant’s lies and misleading statements.
AM belongs in prison
Board being overtaken today by the "its your fault,nothing can be done ,suckit up and move on mob"
Been here before.
The long game is the only way now. I think the other options are for the birds.
Glosman sadly those involved with never be held to accountability. It happens day in day out on AIM, rules are lax, no governance and you have enough money you always get the inside track.
We either spend ALL EFFORT on introducing something into the current sales process, like an external bidder or obtaining a delay, all very difficult, or we kiss good bye to dosh and get a life. Effort today on later legal case proceedings is for the birds, people who like a project and 5-10 years of legal fees. No win no fee sure, but in there, there will be "costs", lawyer lunches etc. Call me a cynic..........but of all similar cases what % see a good result? And after how many years? Who likes Mondays :-)
Its important to remember that Arthur remains President & CEO of COPL America and is in day to day charge of all the Wyoming operations. He also remains in charge of the Nigerian operations. So the company's two assets are still operationally controlled by Arthur and he remains the 'go to' guy. IMO he has outmanoeuvred Anavio & Summit by retaining these positions & it puts him at the centre of any asset sales, ie he provides all operating information & will thus be aware of the identity of any bidders. This was of course calculated well in advance, and it makes the person most likely to walk away with some or all of these assets at a knockdown price = Arthur Millholland.
Strange goings on here this morning. One post saying accept your losses and move on and another for a production update?. Why do you want a production update. Would you believe it?
Tonlin, there is no advantage but unless the process ends up with the SL and 2 other parties bidding then there is little hope of any value being achieved. If let’s say the JVP entered the bidding they will just bid a few more pennies than the stalk horse bid and given the SL will get their money back they will be happy.
The only hope is that there is already an entity that wants the asset and is due to get it from the SL and then another party enters the process and the party due to get it from the SL has to enter the auction.
Basically expect nothing as we have been screwed.
Absolutely but they are trying to do it quietly so they maximise their profits later. The whole lot of these involved are scum really. Even the SL I don’t trust at all.
If the SL got our company for free, ie for the money owed. At its leisure, it can sell it on for a lot more, or even get people in to run it properly, get it making money, then sell it on. All is bad news for us.
Any idea if we will see a production update?