Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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What gives them the right to all the assets...
Game over for shareholders, expect the usual as bondholders take the assets which will leave nothing for you. Genuinely sorry for holders but the warning signs were there.
So if the company survives what happens to shareholders. Can the get rid of us? Can this be a small glimpse of hope. Can't believe that's it lost the lot. Any long term recovery would be welcomed than zero value.
Do you think a yes vote may have changed the game?
Would be nice to find out who they were and if they had links to ad hoc and afren......
Guys, is this game over? Or is there a tiny tiny tiny chance that Afren might be restructured? As a share holder, i expect some crumbs but that is still better than nothing, right?
i think we are gone too but maybe some luck will come SH way ( quick
cant understand anyone investing £600000 in a dead donkey like this. the writing was on the wall 6mths ago.
I wouldn't hold my breath. However , the company is trading at break even , if the debt repayment is taken away . If the BH fear a asset sale - they might just agree a restructure , period of grace , extension , etc etc . Let's not forget this news today is bad news for everyone ( except Shorters ).
Very interesting
the BH will have to engage with the administrator now. The Administrator will give them An ultimatum., reduce the debt to an agreed level or we liquidate the assets . A restructured debt might just be agreed . Without dilution. But, it be viable PoO will have to go up .shareholder equity is very low here so you never know .
cheers.
It seems all is lost. Our investment has gone,the vote also open offer. Just say good bye to Afren,well not good. Good luck to everyone on there future investments
Why they couldn't come to a deal and defer payments until oil recovers? When they say all avenues have been exhausted do you believe them... because i don't for one have they tried a placement no because they wanted out of shareholder ownership and that is disgraceful.
Yes m8 it was its the only share i have that will hopefully pull me out of you know what....
Licence to kill a company from printed credit....
Saudis/OPEC hinting they may start to reduce production and hike the oil price after September, and that probably means about mid November after they have some real numbers re US shale oil bankruptcies due October/November when a lot of the bank lines of credit expire re cowboy shale drillers. Fed has indicated maximum 60% finance plus oil price of $45 only so an awful lot of shale drillers can't live with that and will go bust leaving Saudi/OPEC to start cutting slowly. That is more likely also as Putin seems to be talking to the Saudis & Obama at last as Russia is hurting at these prices
You said have a great weekend then end it GLOOMY friggin ell can it get any worse.....
You can't flip flop out of administration
Agreed.
Boxerdog would still be crying in his pillow.
Ainsley, does that mean ASOG is giving up ?
If you voted no, then you should hang your head in shame. You guys shouldn't be clogging the board with silly posts as you got what you wanted, or claimed to want.
I think the last part of your post may well come true but obviously he will be second in the queue behind Andy p
They suspended shares stating another 30m is required. Where did this come.from a weeks before EGM. Basically all shareholders tried to call AL bluff and that failed. Some people state they lost £600k in afr. If you have that kind of money why throw away in shares I am a gambler and only throw as little as 10k a yr in stock market and even that is spread over a strictly managed portfolio. do not put all your eggs in one basket. Like you all I am really upset with today's news. I can't believe afr is in admin MAX petroleum with just as much debt no assets didn't cave this easy. There has to be more to this story.