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not that im aware of directors just in court the other day pleading not to be banned as they have some new project to keep minmet goign lol
Did Minmet get their money back from Aronson?
I am not suggesting that this is a good share to be in with bright prospects and a glowing takeover target. Its a dog, i wish id never bought and im just trying to cling on to some hope of getting my money back. if we trade again i think we'll see prices anywhere between 1p and 10p before the curtain comes donw. IF we trade again
but it htought they were restored after the initial nomad resignation and traded for another 6 or so months and recieved an offer in the august before final suspensio in the november?
Sorry, I didn't mean to recommend it. I can assure you that shareholders never received an offer of any sort, let alone as much as 10p. After the Tucumcari scam, like you, we never had a chance to sell.
waitng for the return of £260,000.00
This company has also screwed up the logistics in the East cape now! Maybe the IDC will step in and sort it?
I question why a Nomad would take on such a company after the last Nomad and 3 directors bailed (?) due to sinister 3rd party transactions? Aronson ie Target Alliance, Ivory Mint and President of the Millenium Energy Corp., who will have @ 25% of SNR if/when it comes off of suspension, and has also taken @£660,000.00 of SNRs cash so far (Waiting on the return of $260,000.00) And I have to wonder if SNR now hold 6% of the same gas wells near Tucumcari that Minmet was offered?
I believe they dropped to 1.5p and eventually got an offer of 10p so if we folowed a similar course it wouldn not be good for poeple in at 20p and so on but a chance to recover from the current level
Have they actually checked this out, or was a secretary just told to write something?
once minmet was restored how did the share price p[erform intially - i.e. could we see a rise here albeit maybe the beginning of the end are we likely to get a chance to get out with some cash?
minmet
Don't know you well enough Mav for such personal questions...... :-)
well servecool they have £650,000.00 of SNR cash so far........ they aren't out of pocket...... and if they do get the shares....... they can sell them off for more cash........ will 6% of millenium shares really make a difference if at all?
They must be confident SNR will come out of suspension, otherwise the deal would make no sense for them. But why are SNR getting involved with millennium?
Those wells have been there all of those years...... with no one doing anything with them...... Wouldn't be surprised if the 40 million SNR shares will be sold off just like Alliance did theres. All funds to be used for "administration purposes".
Im getting $480 million on millenoum of which 6 % is $28.8 or £16.7 is this correct - very sketchy info on millenium
It was just over R100 million (@ £5 1/2 million in todays money) unless they've made a deal.This also includes a termination fee. But it might go to arbitration where anything could happen.
How much are thelo due? Whilst the SNR directors are urgently seeking legal advice in order to clarify the position, it is their preliminary understanding that this order effectively freezes the Company's entire interest in Elitheni and confirms the jurisdiction as the Republic of South Africa to any further claims by the applicant, Thelo Rolling Stock Leasing (Pty) Ltd ("Thelo") against SNR or Elitheni (the "Court Order"). Right now, thelo own all the shares
So if a deal hasn't been struck with Thelo beforehand that means there are no Elitheni shares to sell as Thelo still hold them? The arbitration I believe isn't until Sept. now..... again ...has a deal already been done?
The 266 million tonnes was verified resource with reserves of 31.4. Since the confirmation of reserves there has been a huge amount of further shares issued. I really don't know the value, as it is mostly thermal coal, however this represents just 5 % of the acreage. If it is sold off, it will be around historic lows in my opinion.
The Elitheni shares were to be LCLs ticket until Thelo put a hold on them.... Has a deal now been done with Thelo to release those shares?
I think you've probably hit the nail on the head with that one.
Or has LCL pulled back because they know they will get all of their cash back with interest with just crumbs left over for shareholders?