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Market analyst Rajan Dhall talks about the financial market


Frontera Resources Share Chat (FRR)



Share Price: 0.1675Bid: 0.165Ask: 0.17Change: -0.0025 (-1.47%)Faller - Frontera Res
Spread: 0.005Spread as %: 3.03%Open: 0.17High: 0.17Low: 0.1675Yesterday’s Close: 0.17


Share Discussion for Frontera Resources


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balrogxx
Posts: 1,554
Off Topic
Opinion:No Opinion
Price:0.1675
I think
Today 08:24
It may well rise from here for next week, which may be a good opportunity to sell or if all great news comes then may turn out to be a great buy at this prices

But IMO the pain is still to come after the 1p conversation, so bear that in mind

Which is the $8m vendor debt
$6m YA conversion
And the $12m in new equity... JMO
 
registered_user
Posts: 639
Off Topic
Opinion:No Opinion
Price:0.17
RE: Amazing
Today 08:21
Excellent balanced post, highlander.

Zibs - Stakeholders vs shareholders.... they're as different as chalk and cheese, mate.
balrogxx
Posts: 1,554
Off Topic
Opinion:No Opinion
Price:0.17
RE: Happy no ops update..
Today 08:18
Noloss,
The ops update is not in as there is no ops update,
They by their own admission suspended ops until the JV conclusion

And now need to raise $12m to get the 2 well ops started, why do you think that there would be an ops update??
Retireby40
Posts: 3,199
Off Topic
Opinion:No Opinion
Price:0.17
Roadshow and alignment
Today 08:17
I expect a series of RNSs in the coming weeks. First is conversion then followed by an EGM re consolidation, a road show announced and gas sales before. SN's presenting in Warsaw next week so I can see things moving quickly. Holding and I've no doubt Q3 will be more than interesting and positive.

Our share price has eroded massively. SN - to support and enhance the value of our company's shares and avoid erosion of value."
balrogxx
Posts: 1,554
Off Topic
Opinion:No Opinion
Price:0.17
Bomber
Today 08:14
There was no mention of the JV or farmout in the accounts, as a holder do you know if that's now off the table??

It was supposed to be in Q3, they mentioned about JV in all previous RNSs since SN disclosed it in the CC.
highlander1970
Posts: 1,196
Off Topic
Opinion:No Opinion
Price:0.17
RE: Amazing
Today 08:13
Zibs,
I am not out to be as negative as possible. It's not a good update and you know it. $2M per month loss yet there is nothing said about getting the gas sales going which would bring the comapny cash positive! Why?

Look at GKP to see where the difference lies with stakeholders and shareholders!! I am a shareholder there unfortunately which helped my decision of selling up here, I couldn't go through that again!

I am genuinely looking for an entry point back in here but I now have a list that needs to be completed prior to putting any funds in here and I will let epople know when I buy in, if I miss the big rise then congratulations!
Until then, I am a potential investor keeping tabs on a company I have been previously heavily invested in.

Happy investing.

H
Retireby40
Posts: 3,199
Off Topic
Opinion:No Opinion
Price:0.17
RE: Good summary by Seymore iii
Today 08:11
Good summary indeed. Good news to be announced before july's road show, gas sales is my bet. More RNSs next week. Great the US bigwigs met the Georgian PM etc, KK gone and gas market opening up. From July we'll start to see some proper light at the end of the tunnel.
registered_user
Posts: 639
Off Topic
Opinion:No Opinion
Price:0.17
RE: Happy no ops update..
Today 08:11
Fair point, Noloss.

IF indeed there will still be a uk roadshow next month then I find it difficult to see how SN can come over here and pitch the company without something, well, transformational between now and then.

He'll get lynched, otherwise... surely?

There's no dressing it up though, the accounts at a glance are dismal.
Kdashian
Posts: 250
Off Topic
Opinion:No Opinion
Price:0.17
Minor shock
Today 08:08
Nearly had a heartattack.,.. LSE had this share suddenly down 98% down by 9.45p per share.. Took me a second to long to realise it was an error!

As always, patiently waiting to see what happens next!
zeps
Posts: 9,130
Off Topic
Opinion:No Opinion
Price:0.17
Good summary by Seymore iii
Today 08:04
Key observations:

1. "Georgian Tax Refund" ...." As of December 31, 2016 the amount of refund due to the Company was $5.6 million. The Company has not recognized a receivable as of December 31, 2016 or 2015 for these ongoing proceedings."

2. In May 2017 the Company approved the conversion of the related party notes payable into equity. Directors of the Company, Mr. Steve Nicandros (through an entity controlled by him) and Mr. Zaza Mamulaishvili, have entered into note exchange agreements to eliminate approximately $26 million related to loans by the executives' advances to the Company. These loans were previously provided to the Company to support the Company's on-going operational and working capital requirements. The conversion is agreed at a fixed conversion price of 1 pence per share. In accordance with MAR requirements the conversion will occur only after publication of the 2016 full year financials. Pursuant to the terms of the note exchange, there will be a 12-month lock-in period on the sale of the new ordinary shares that Mr. Nicandros and Mr. Mamulaishvili will receive at as a result of the conversion.

3. ARAR Arbitration: "...............On June 20, 2014, the appeals court granted Frontera's appeal, overturned the 4th Commercial Court's decision and remanded the case back to the 4th Commercial Court to adopt a new decision in line with the appeals court's instructions. On December 20, 2015, the 4th Commercial Court adopted new decision granting enforcement of the Final Award. The Defendants appealed the decision with the appeals court again. On December 28, 2016, appeals court rejected Defendants' appeal and upheld the 4th Commercial Court's decision granting enforcement of the Final Award. On February 2, 2017, the Defendants filed petition to the appeals court requesting "correction of the decision", and the case is currently pending at the appeals court awaiting adjudication."

4. The Company reached an agreement with YA II PN, Ltd whereby approximately US$6.2 million was eliminated by way of conversion into equity via the issuance of 7,200 Series A convertible, preferred, redeemable shares in the Company with par value of US$0.00004 and with liquidation amount of $1,000 per share. Under the terms of the agreement, conversion is limited in order to permit the Company to build value from its planned programs. YA II PN, Ltd. has also indicted that it will permit the company to redeem any future conversion requests in cash versus equity if it so desires.

5. "....shareholder roadhshow in London during the month of July."

So, a big step in the right direction, with the elimination of debt [c. US$32.2M] while the CLNs have been punted down the road to 2020, so massive financial risk removed particularly during these tough times.. I also think we going to get another RNS either later today or tomorrow confirming that the management debt has been converted in to ordinary sh




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