Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I agree with ODR and as there's 30 days to log an appeal, IMHO FRR will appeal the transfer of Block 12 to GC. Therefore, we should see something about an appeal in the courts shortly.
For what’s it’s worth I feel the same as ODR1
A well-thought-out and logical response, ODR. Well said.
Good morning all
Just to chuck in my two pennies worth:
It's really difficult to know what we should consider doing, if anything.
We have been treated absolutely abysmally as part owners of this company. There is, and never will be, an acceptable excuse for the way we have not been informed of anything.
It has been suggested that we pull together a fund for some legal advice. The Company is based in Houston. It has an incredibly intricate and big structure of subsidiaries based across at least three countries. It has court cases going on in California, Houston, Cayman Islands and Georgia. One of the subsidiaries has been liquidated and the liquidators are still working on the situation. If a lawyer exists who can advise us on such a complicated situation with any degree of certainty I would be amazed. The cost of such a person would probably be beyond our collective means. Then what would it achieve? The Company presumably has no funds and the only way we are ever going to get anything back is if the asset is monetarised. The lawyer won't do that. He/she will just cost us and the Company big bucks.
Then the investigative journalist idea. Hmmm ... why? What is that going to achieve? Yes, a great story for them, if they can be bothered to spend the necessary hours to get to the facts. I suspect all they would do would be write a load of inaccurate tosh that, at best, gives a (further) bad name to the Company. At worst it could scupper any miniscule hope that remains of any return.
If I felt either of these routes, or any other ideas, had a chance of getting us any return then I would support it. Unfortunately I'm afraid the right thing for us to do, is to do as Arsenal always says: "wait and see". The fiasco can't go on forever.
GLA
Rather than trying to pursue the company in courts, why do you form a collective and take on the lawyers instead? They have made communications do are privy to information. That would be the only feasible approach unless you think you can collectively do a better job than FTI and Stephen Hope.
At least lawyers have insurance for these eventualities.