Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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So is this a fact or a lie:
"Deloitte want contact from Shareholders"
Yes or No?
Buzzy, again misinformation. I responded directly to that criticism on the 6th:
"If your picking at my every word is to establish did they explicitly say "go find all your other shareholder friends, and tell them they must write to us" then the answer is no. The spirit of my message, is that despite all the grief that has been thrown my way for even thinking about contacting Deloitte. And the insistence that it would be a negative and pointless exercise. I've actually found the opposite. A real person, responded quickly and is happy to communicate via email and take on board my concerns."
May I suggest that you fact-check your posts before jumping on the bandwagon.
Amounted Bear - I can see you only joined this site a full year after FRC was delisted. Perhaps you've not had the same experience of long term shareholders on here.
Piscean,
I'll include myself in that "abuse" if you like. However, it wasn't because of Tenners' desire for answers. I am sure we all want that - I certainly do.
It was because of his/her own deceit and manipulation in his postings - in particular making out the content of his postings were from a direct communication from Deloitte - and they weren't. It was simply his / her thoughts spun in a way to sound like they were from Deloitte. Read it back - it's clear as day when you realise.
Furthermore - his own posting headline of "Deloitte want contact from Shareholders" was also a lie. All of it designed to illicit a response to pepper Deloitte with shareholder communications. Does anyone think for a minute Deloitte really want this? I am very sure they do not. When challenged on it, funnily enough, he/she didn't reply.
Now he/she's just regurgitated it all again to spam the board with the same stuff we've all been over.
One has to ask - why would one do that?
Let's not kid ourselves on here.
Bezzy
I'm bored reading your wall of texts saying the same thing over and over.
You've stated over and over that you've contacted Deloitte, why you contacted them.
I don't really care.
If you have something from them to share, please do.
Otherwise, please stop posting the same stuff.
We are all desperate for actual news and facts, not self-indulgent waffle.
Thank you.
For what it's worth Tenners I'm disgusted at the abuse you've received just because you want some answers as to what's happened to the company you invested your hard earned cash in.
Part 2.
It would be a serious misgiving of myself, if I assumed my investment has been taken care of by SN. I have no evidence of this. My investment was in FRC, now controlled by Deloitte. Therefore, my reason for reaching out to Deloitte who are now in charge of FRC is as follows:
1. They are a respectable global company, and they have responded to me saying they will look into my concerns.
2. I wanted to let them know I'm a shareholder. This is important as a member of the company, I can ask questions about my investment and raise any concerns I have. I hope to also see the investigators report.
3. SN and the board will have to sign declarations of truth. Such statements are treated very seriously by the courts. If facts are concealed or omitted, then this needs to come to light. This is why its important that background information and known facts are shared with investigators.
4. Whilst I may not get anything back. If I have been done over, then I want to know about it. Staying silent won't achieve this. It will all be conveniently wrapped up quietly, and it will be too late.
5. If the investigator is successful at recovering any assets or rights to block 12, then I am at least in the pot for any distributions. Even if that's at the back of the queue.
6. Lastly, if there has been anything dodgy going on, then having the investigators report will be crucial to reporting this to the authorities and perhaps seeking compensation.
I know some on here have said, don't bother or it will all come good. I don't accept that. Who's to say those pushing that strategy don't already have their interest in the new FRUS. Stay stum and here's a golden handshake. I have had to trust my own instincts, others will need to draw their own conclusions and I am not providing advice.
On the flip side, if everything has been done above board, then there should be nothing to see and nothing to lose. The investigators will do there job, and theybwill be able to tell us in the absence of SN what has happened to our investment. However, it's a sad fact, but many victims of fraud do not know they are, they convince themselves it will come good eventually.
Following my email to Deloitte, they have responded quickly and positively. They have already set up a direct email to the insolvency team, who appear happy to hear from genuine shareholders and assist with our quieries. You can ask questions about your investment or share your concerns about the company or the way it has run. For those that want to do this, the email I've received directly from the team is from: frcliquidation@deloitte.com.
Make up your own mind.....
Part 1.
I mentioned that I have reached out to Deloitte, because I believe the parent company that I invested in FRC is now in liquidation. A court has removed SN from any control. Some on here will say its part of a grand plan, but I personally have nothing to base that on.
Since FRC was delisted 5 year ago, I haven't heard a dickie bird, and I have no idea where my investment is. It appears that SN has transferred all the rights to produce the hydrocarbons from block 12 into the company Frontera Resources US LLC. Which I mistakenly thought was owned and controlled by FRC (the parent company).
Despite its long standing history, SN has now abandoned the parent company, and some how kept FRUS LLC out of the group structure. This significantly worries me. I don't see how he can legally do this, other than selling it off for fair value. If you could simply move all your assets out of reach, all companies would surely do this to avoid their debt.
Most importantly, who now has the shareholder rights to FRUS LLC. Despite some on here being very close to the action, they will not say! Yes, they paint a picture that SN will look after shareholders, but there is nothing direct from him, and nothing to fall back on legally. SN has ignored all emails, not even a simple acknowledgement. Why? It cannot be to hide the asset from his competitors, as this was all discussed at the arbitration and Looed has now openly confirmed that the asset is now safe.
If the asset has been removed from the parent company illegally or sold off significantly undervalued, then there would be a significant advantage to those that have done this if shareholders stayed quie. Let the parent company FRC, where we put our investment be wound up without a fuss.
The simple position for me is this. I invested in FRC, which helped develop the commercial discovery of Block 12. The rights to that discovery, I was led to believe were owned and controlled ultimately by the parent company FRC via the subsidiary FRUS.
FRUS now appears to have been removed from that group structure, not to dissimilar from Zaza wanting to sell/transfer the rights to Green Capital. How has SN done this?
The courts have now removed SN from the board and control of FRC, and they have appointed Deloitte to investigate the company. They will trace and recover assets. Plus, they have a duty to identify and report any misconduct or criminal behaviour by the board if they identify any.
Monti, I understand that and I've certainly got a sizable investment here, which is why I've been patient up and until the news of FRC being put into liquidation. I fully understand emotions are high, but unfortunately, this is a "KNOWN" fact. I've always said people will need to make up their own mind and follow their own instincts.
Contrary to the narrative being put forward by others (whatever their motives are), I've never said Deloitte have promised anything. Read my posts back carefully, that's the narrative thet have created to discredit my thoughts - Why? I've merely tried to be transparent and explain the reasons why "I" feel its right to reach out to Deloitte. I've done this so that other genuine investors can consider their own position, and consider an alternative to the pushy, almost at times threatening narrative for shareholders to sit tight like mushrooms, and trust in second or third hand comments that cannot be verified or legally depended upon.
Therefore, I understand your post, but equally its important to have transparent debate on here. We cannot just listen to a single voice that's provideds no guarantees, and ducks questions about inconsistent messages. I guess sensitive posting cuts both ways.
All the best.
Tenners, people’s approach/mindset on whether to trust (or over trust) SN is based on the size of their investment and their length of association with the company. Many made the trips to the big smoke to meet the FRR team and many have spent countless hours (over many, many years) to do research for the benefit of all. These experiences have no doubt dictated their sentiment and approach. So, take for example, a punter with a £1000 investment compared to someone with say £25,000, do you think their mindsets will be the same? Definitely not. The person with the small investment has probably long moved on while others continue to hope, mainly because of SN who personally made multi-million dollar investments in FRR and had c.11% of the company. So, regardless of people’s opinion expressed here, please cut some slack for those who continue to believe because they need this to come good for themselves and their families. Having said that there are still many that take a balanced and pragmatic approach to this investment.
Grow up Tenners, what are you going to play next? the race card? This soap opera reached tedium long ago, give it a rest.
Cazbraz, I have had no posts deleted, they just love bashing anyone who may have a different view or dare to disagree with them. An intentional effort to suppress debate, deflect and show over confidence in the great SN. All to reassure shareholders that he has our back! They act like school yard bullies!
There are many examples of company RNS's out there where companies are obliged to comment about a legal issue or case that they were involved in. Sure, they are carefully worded (because saying very little is the usual advice) but I see no GOOD reason why FRR would be compelled to be totally silent. The only reason I can think of is that SN doesn't want to mention a company name, or put his name to anything (hence the informal messages via Looed) because what he's trying escape the grasp of the liquidators and mentioning certain things (things that would otherwise be very normal for a healthy and functioning company) could give ammo to the opposition. Which could make some sort of sense while being potentially being on shaky legal ground, and a crap position for us to be put in - but then we already know that.
Lifeishard - your post to Tenners at 08.19 this morning - can you respost what he wrote please as I've just looked in for the first time today and can't see any trace of a post from him saying anything for certain - has it been removed? Thanks in advance
Posters with legal experience on here have pointed out in the past that lawyers, faced with difficult or complex cases, always tell their clients to effectively keep schtum - don't speak to anyone about their legal circumstances. This is what FRR's attorneys will undoubtedly have stressed to SN, and what he is undoubtedly doing. This silence is extremely annoying for us genuine shareholders (as well as deliberate troublemakers!) but, as we can now see, is understandable.
I don't think that anyone on this BB, with the possible exception of Looed, fully understands the machinations of FRR's corporate organisation. In the current circumstances, that's probably just as well.
tabs, i am yet to meet you, but i would hope to one day, i kinda knew that comment would tickle you, am sure coggy and others laughed along to, it honestly did make me chuckle 😅😂
the posts from yourself have varied down the years, the movie that will be made from our saga , i have changed my mind on your character, from being wilfred brambell, to ( now no getting big headed here ) brad pitt , but in character form of aldo raine, a good guy not to be messed with.!
we have quite the bunch here, columbo, peter kay ( coggy ) myself as jim royale, my brain is working overtime to get devex et al some form of characters..? anyways, i means no harm in naming of these people, just a bit of fun
****nal, agreed on monti.
Lifeshard , jim royale !
To be fair he is funny , so that will do me. Just caught up with the posts think this is a strong buy at the moment especially if we get shot of all the dark forces operating on this board mlol
Life
It is up to individual posters.
Overall going on where Frr is still stuck then it does not matter on what anybody says on this bb.
Will say that as far as Monti, is concerned I put him/her on the list of being a very good poster, if not above that level I.e. excellent.
Enjoy
No problem Monti. See you in the New Year.
Thanks Lifeishard. I know sleuthing isn't for everyone be it a matter of time or just how to go about it. (Not at you) But I recall asking many times for help on this BB without anyone stepping up. So those who had "concerns" had ample opportunity to get involved even if it was just to verify matters for themselves. So I don't intend to pay mucvh attention to their nonsense in the New Year.
Dear Looed, whether you like it or not, but all genuine FRR shareholders are emotionally dependent on you for your continued efforts and comms f especially after the liquidation of FRC. Company’s messages via you and JimSlade have helped keep some of us sane during the turbulent period. I don’t believe any true shareholder would risk losing this access to FRR via you, unless of course they are infiltrators from the other side, seeking to defame you and stop you from posting here. So, please keep your chin up and be assured that we are all behind you. Happy New Chinese Year.
Phil_2018, pull the other one will you.
A superb post Tenners! I agree with each and every point you make exactly. You were right in contacting Deloitte to find out and we were right that they would be far more open with us than SN, FRR, etc ever was.
There is a lot of information you have gained here and that is a big positive. We now know for sure the rights to the hydrocarbons, block 12, etc were transferred to FRUS and not only that but that FRUS is (now) a separate company from FRC.
I was a bit dismayed to find out thanks to others on this board that Tenners was seemingly presenting his thoughts as information from the Liquidators. That was not on and was very misleading. At the time I was pleased that Tenners had seemingly dug up a lot of info from Deloitte but that was not it seems the case. On the upside the real situation seems to likely be a better place than the scenario that would have likely been the case if Tenners thoughts were what Deloitte had said.
I still don't think there is any harm in asking Deloitte questions but it seems less likely now that we will get anything of worth if as seems to be the case there is nothing left in FRC and it is now in FRUS. I don't believe we should help the Liquidators track anything down, that's their job and not likely to be in our interest.
I personally think that the Share Register covers the whole of FRR hence why my shares are listed as 'Frontera Resources' so concern that we have been left behind is I hope unlikely.
My hope is that in the near future SN will be able to come forward and be transparent once (as we may suspect) got FRUS sorted out and moving forward with suspected new investment (and of course us).
Looed, it wouldn’t have bothered me if it was directed at me, it actually made me lol, you have been singled out many times on this board, not good in my eyes. Enjoy your holiday you deserve it, Tenners and his posse ( am not totally sure Ricardo is one of them ) have shown themselves, its called desperation.
Thanks for telling me I am not one of my tv heros by the way.
GLA real holders
Lifeishard - Jim Royale was a general comment not at you. Only the first para was in direct reply to you. My name gets mentioned a lot its hard to keep up so messages might drift.
Monti - I was meaning you usually say wait for Looed message etc which I took as subtle reminders. Just saying if that was the case then no need.
Bezzy - it's the last day of the current Lunar Year so a good day to declutter the mind and deal with crap before the new year starts tomorrow. It's the equivalent of Xmas and Boxing Day here but we get 8 days holiday to enjoy it. The Year of the Dragon is usually a good one so lets hope the tradition holds up.