Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The administrators do not say company is insolvent, just their obligations in the case of insolvency.90 (we probably are tho!!!) If Littlebillys post is the full message it does not say "The Administrators do not anticipate that there will be any funds available for distribution to the shareholders in this case." (Although there probably wont be.)
Are you part of wshaks crew!!!!??
Littlebilly take it that this is the response from the administrators? I thought they would before deciding the business is insolvent see if the company can continue on an ongoing concern. This decision has been decided very quickly in a matter of days.
Afren Investors set to be wiped out, FirstEnergy Capital 5th August 2015 http://goo.gl/OS3PFr Ebok and Okoro oilfields in Nigeria will be taken over by either the Nigerian government or its local business partners.
EXACTLY,as AL turned ROC oil around,who knows.GLA.
Yes roc oil did go in to administration, and alan did turn it around
Who say's the company is finished?
How did AL turn ROC oil around. Did they go into admin at any point? Still hoping admin is a temporary plan.
Why are people still posting on here if the company is finished ?.i have explained my reason for doing so and have accepted fact that my investment has been lost.i actually accepted that fact several months ago when SP fell to circa 3p and as a newcomer to the world of share dealing watched with great disgust but also admiration as the price fluctuated by 20% each day as the day traders went to work.Once again i will ask the question why is anybody still here ?.
So, anyone got any tips for any risky bulti-bagger shares? I feel like building a portfolio of them and sailing close to the edge lol. (Joke)
Guys, remember all the time you are looking at future possibilities of Afren recovering, the odds are probably 99 to 1 against that ever happening. God we all hope against hope that it will happen, but we need to be realistic. Dont build yourselves false hope. It only leads to more pain. But I love your positive attitudes.
Not been here for some time ,got fed up with same old speculation so decided to stop wasting time reading posts until company showed their hand and broke veil of secrecy.Cant say im surprised with outcome as the warning signs have been there all along,but words alone cannot express my disappointment with the conduct of many involved . Where does company go from here ? is it still trading and producing ? and is there any glimmer of hope for shareholders ??????.
Hi nimms. Share group... nice thought, but for me too many legal and regulatory ramifications for me.
Yes I guess they will be thinking of the 1p offer form Total doesn't look so bad now. LOL & the game is not over till the fat lady sings
I don't think the bosses were Nigerians?? The company is based there but bosses were from other countries.
Glad I got out and only lost £5k. Bet you all have lost your shirts on this tragic that this company has failed. All due to thieving Nigerian bosses
Who sanctioned the use of advisors at astronomical fees, surely this was one of the nails in afrens coffin. Turnaround specialists more like admin specialists. Remember their names alvarez and marshal....
ASOG you did have a lot of members why don't you start an asog share club and all of us put in a nominal amount and throw into a decent company. I do recall a few share clubs investing in dgo back in the and done very well. We can have a proper review on where to invest. My vote is LLOYDS it's still a penny stock but I think it will be back to £2 by end of next year. But happy to take other suggestions. With all the members this could be a couple MILLION € FUND
Gloomybare with afren I don't know what to believe anymore. They first stated that there was $270m odd in cash but never used it to pay debts. They stated they needed another $250m and before suspension they needed another $30m. The question I have is are afren still operating? Even though the poo is low they should still be generating income especially enough to pay debts etc... There is more to this and I think BH always had an option C which they have now exercised.
OMG GG. Are you not well? That was almost supportive! Have I landed on another planet? Take care. Good night T
Are you too locked in with your short? I noted some brave individuals on the wshak thread/twitter having opened as low as 2. A little late don't you think?
http://uk.news.yahoo.com/nigeria-names-head-state-run-193155862.html
the amusing thing is that whilst in administration the company has protection from legal action. They can't be sued for anything.
I am a member of ALAG but agree that there is a confidentiality aspect to ASOG members that needs to be respected. I made a personal decision to provide my email contact to ALAG and it is up to each sh to make his/her own decision. Many shs will no doubt be attracted to ALAG if they believe that it does offer a glimmer of hope of some fashion - perhaps once ALAG is able to give some early insight into what our legal reps and ALAG are thinking/suggesting at this point then many more shs will enthusiastically join the ALAG fight for justice. A lot of information has been passed to/collated by ALAG over the last couple of months some of which was used by our legal advisors to compose the legal letter that was served on Afren a few weeks ago which drew a formal but brief response from Afren. Some shs may just sit back and see where Administration leads us but history would suggest that this will not lead to any financial return for shs. Many shs will also still be holding out a glimmer of hope that, amongst all this information with ALAG, the bones of some very damning criminal evidence has been uncovered that could lead to the SFO/FCA initiating an investigation that would only help any possible ALAG civil action for compensation (albeit from whom now?). All disgruntled shs still have much in common - justice of any form, ideally some financial recovery and hopefully some wider market repercussions that will lead to much greater future transparency and accountability from BODs to shs.
No liquidation.....so far hasn't been delisted yet albeit suspended