Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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So this month CZN expects to have completed its corporate restructuring, which then allows it to publish its R&As and lift suspension of trading in its shares.
I dipped into this with pure speculation and curiosity knowing it’s a shale company and just prior to its suspension so I am looking on with interest. A few interesting things that stand out for me:
1. the Company and its auditors have requested additional time 'IN ORDER' to complete an ongoing corporate restructuring with the objective of recapitalising the Company and the elimination of its outstanding liabilities and corporate debt.
2. The Company is targeting the publication of the 2023 Annual Report in May 2024 but this is CONDITIONAL upon the Company completing the Corporate Restructuring
3. The Company further confirms that it has ceased discussions regarding any reverse takeover transaction, as the progression of any such discussions is DEPENDENT on completion of the Corporate Restructuring.
And it kind of summarises the below by saying “The Company will therefore apply for the suspension of trading in its shares to be lifted, FOLLOWING the completion of the Corporate Restructuring, PROVIDED the Company has published its 2023 Annual Report.”
So, there is no dilution to restructure as the restructuring comes first before suspension is lifted. Which will be very much of interest to me how that will be done.
Clearly whoever they have been speaking regarding reverse takeover has told them ‘First get your house in order’ until then we will cease discussion.
I think it will be a hold for me and may even add if it drops on the lifting of suspension. If it goes bust it goes but curiosity will get the better of me. Reading between the lines of their report, I am going to speculate to hold or even dare to add.
And right in the end in simpler terms, it means that even though trading of the company's shares has been paused, the company will still provide updates if there are significant developments related to its restructuring plans. And it adds additionally, the company will continue to follow the rules about sharing important information as required by regulations to ensure transparency and fairness in the market.
Its a very non-committal RNS that seeks to simply bury the fact that the accounts are going to be late and there is no cash.
Fully expecting the shares to come back to the market with some hefty dilution involved as the only way to clear the debts would be to offer out shares in the absence of any actual money (Unless someone is going to buy Coos Bay for the £x millions sunk into it?)
It will most likely go into liquidation as if funds cannot be raised to pay of debts then it will be forced to go into administration . Lets hope assets are worth more than debts.
Its most likely bad news that existing shareholders will no doubt be diluted to oblivion for the capital raise, but good news that the shares are going to be relisted after about a gazillion years so at least they will be liquid / tradable again, for whatever it is worth.
Doesnt sound good .
Needs something to happen before the world ends
Is this good news or bad , can't make my mind up ?
Blimey. I'm a few days late to the party but this looks promising (or at least better than nothing). Why would the BoD appoint a new broker? (in particular now, after years of.......nothing)
It lives
Might be mining related.
So we now have a broker! Is this in preparation for the relisting of the shares? Is something actually happening? I may need to sit down and steady my nerves!
Hey or nay ?
Has anyone looked into legal action here? Surely there is a maximum amount of time a share can be suspended for? The lack of transparency has been unbelievable. Does anyone know if there’s anything that can be done?
Are you alive ?
ScooooooooooooooooooooooooTeeeeeeeeeeeee….Wheeeeeeeeeeeeeeeeere….Ar………Youuuuuuuuuuuuuuu
Is there any contributors on this board that has any idea on what’s happening with this firm? I’ve patiently held shares (well had to hold shares 🤦♂️🤦♂️) for a long while but I don’t seem to be able to get any news, is there any??
What's the record time frame for a "temporary suspension"?! Nov 11th 2020 to now....so far!
If the useless Scott Kaintz is still here he wants to stop hiding and get in front of the camera and explain.
Will soon be 3 years. 😳😳😳
There's a chat going on or was, because some months ago, via a contact, I assisted a connection with a possibly better mining opportunity. So I hope the board are progressing.
Almost 3 months since the last RNS. This is not looking good!.
Although operating costs will be limited there are still salaries to cover and cash sunk into due diligence (most of which has been a completed waste of time it seems).
All rather impressive when you consider CZN owns Coos Bay which could be worth millions given wholesale gas prices.
Has Scotty Run Away With The Money ?
Is the BOD going to make any announcements or statement to shareholders any time soon? Even an update that talks are still ongoing would be more appropriate that the current deafening silence week after week. Please?
I guess we may be in for some news next week with the exclusivity agreement ending today! Fingers crossed its positive!
Only a 8 day exstension ? interesting