Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Tenners,
Your point 4, states you may not get anything back?
Then after your huge update from yourself, we get the last small paragraph stating they are happy to receive emails, was this an automated Deloitte response ? Or do you have a named response i.e “regards from ??.
We get why you want to know, we REAL holders want the same, you claimed earlier it was a positive reply, can you elaborate on this? Or is that it.?
A positive reply to me would be your shares aren’t in FRC!
Well done though as at least you’re trying to find out.
Am back sitting and waiting on Looed, Jim or even your good self now you have put yourself in the mix on info coming our way.
GLA real holders
Part 2.
It would be a serious misgiving of myself, if I assumed my investment has been taken care of by SN. I have no evidence of this. My investment was in FRC, now controlled by Deloitte. Therefore, my reason for reaching out to Deloitte who are now in charge of FRC is as follows:
1. They are a respectable global company, and they have responded to me saying they will look into my concerns.
2. I wanted to let them know I'm a shareholder. This is important as a member of the company, I can ask questions about my investment and raise any concerns I have. I hope to also see the investigators report.
3. SN and the board will have to sign declarations of truth. Such statements are treated very seriously by the courts. If facts are concealed or omitted, then this needs to come to light. This is why its important that background information and known facts are shared with investigators.
4. Whilst I may not get anything back. If I have been done over, then I want to know about it. Staying silent won't achieve this. It will all be conveniently wrapped up quietly, and it will be too late.
5. If the investigator is successful at recovering any assets or rights to block 12, then I am at least in the pot for any distributions. Even if that's at the back of the queue.
6. Lastly, if there has been anything dodgy going on, then having the investigators report will be crucial to reporting this to the authorities and perhaps seeking compensation.
I know some on here have said, don't bother or it will all come good. I don't accept that. Who's to say those pushing that strategy don't already have their interest in the new FRUS. Stay stum and here's a golden handshake. I have had to trust my own instincts, others will need to draw their own conclusions and I am not providing advice.
On the flip side, if everything has been done above board, then there should be nothing to see and nothing to lose. The investigators will do there job, and theybwill be able to tell us in the absence of SN what has happened to our investment. However, it's a sad fact, but many victims of fraud do not know they are, they convince themselves it will come good eventually.
Following my email to Deloitte, they have responded quickly and positively. They have already set up a direct email to the insolvency team, who appear happy to hear from genuine shareholders and assist with our quieries. You can ask questions about your investment or share your concerns about the company or the way it has run. For those that want to do this, the email I've received directly from the team is from: frcliquidation@deloitte.com.
Part 1.
I mentioned that I have reached out to Deloitte, because I believe the parent company that I invested in FRC is now in liquidation. A court has removed SN from any control. Some on here will say its part of a grand plan, but I personally have nothing to base that on.
Since FRC was delisted 5 year ago, I haven't heard a dickie bird, and I have no idea where my investment is. It appears that SN has transferred all the rights to produce the hydrocarbons from block 12 into the company Frontera Resources US LLC. Which I mistakenly thought was owned and controlled by FRC (the parent company).
Despite its long standing history, SN has now abandoned the parent company, and some how kept FRUS LLC out of the group structure. This significantly worries me. I don't see how he can legally do this, other than selling it off for fair value. If you could simply move all your assets out of reach, all companies would surely do this to avoid their debt.
Most importantly, who now has the shareholder rights to FRUS LLC. Despite some on here being very close to the action, they will not say! Yes, they paint a picture that SN will look after shareholders, but there is nothing direct from him, and nothing to fall back on legally. SN has ignored all emails, not even a simple acknowledgement. Why? It cannot be to hide the asset from his competitors, as this was all discussed at the arbitration and Looed has now openly confirmed that the asset is now safe.
If the asset has been removed from the parent company illegally or sold off significantly undervalued, then there would be a significant advantage to those that have done this if shareholders stayed quie. Let the parent company FRC, where we put our investment be wound up without a fuss.
The simple position for me is this. I invested in FRC, which helped develop the commercial discovery of Block 12. The rights to that discovery, I was led to believe were owned and controlled ultimately by the parent company FRC via the subsidiary FRUS.
FRUS now appears to have been removed from that group structure, not to dissimilar from Zaza wanting to sell/transfer the rights to Green Capital. How has SN done this?
The courts have now removed SN from the board and control of FRC, and they have appointed Deloitte to investigate the company. They will trace and recover assets. Plus, they have a duty to identify and report any misconduct or criminal behaviour by the board if they identify any.
I maybe the most unusual FRR shareholder who drifted into the AIM Market in
ignorance . I would be delighted to come forward . HL holds my shares and is
best qualified to explain.
Ricardo, as I confirmed to Sdyas, I am bonkers!
I look at life as positive as I can, we can, as you are doing look at the negatives here ( there is plenty ) or you can look at the positives like do. E.g’s below.
My research as best as a novice could , including our leaders family history.
The very fact we have Columbo aka Looed who has just done the most unreal amount of work for us real holders. Also what I believe in being little clues to how close we are now.
Why would anyone do that amount of work?
All these have been in past years, Covid, the present war, as Madp advised on Spewtin invading when our company told us they had found oil, and all the court cases thrown in on top of that, yet still we see our leader at meetings with GG.
So again, I could be lying flat out sickened to death as I was years ago or I can be like myself now. No contest for myself, but totally 100% understand why others are like they are as I have been there, I’am fully aware this is not a given, but I see positives, a huge one being Looed and Jim’s updates from our leader, it just seems not many see the same as myself. You’re call on that one.
GLA real holders
Interested...
Good afternoon, well after 5 full years of silence from SN: it has taken Deloitte, a well respected professional company now in charge of FRC, just days to respond.
It may have taken a court to remove SN and the board, but hopefully we may now start get some answers as to what has happened to our investment and our rights to the lucrative PSA.
Deloitte are clealy now in the driving seat, a positive reply and I'll message more later...
Lifeishard, apologies, I only just saw your post in 'Get Real', so maybe you'll point me to that as your reply. But happy to chat further about it if you are.
Lovely lady Mapp, if this is as Contra says, and you look anything like Helen Mirren, then please advise time and date, I will see you there.
Hi Lifeishard, would you mind elaborating on this please?
"In Steve I trust."
Why is that? What do you know that gives you such confidence? Where I am coming from is that I don't know much about SN other than what I read here and, of course, what I know of how he ran FRR. So frankly, from that my perception isn't too great. But I see a few people on here who are very confident - so I'm thinking they must know something I don't, or are just very trusting people. Given that this is AIM, therefore we know not to be naive about the sorts of things that are going on, I doubt it's the latter. So is there something you are able to share that might help boost my confidence? Cheers!
Lady mapp - You say you are preparing for your Big Day in public. I have advised you to not to use the nudist beach at Studland. In the summer yes, but it's too cold right now. Just as with Frontera, more patience is needed.
Lifeishard, many investor's life is broken while PRO traders
rake it in. I am preparing for my Big Day
when I shall be noticed. In public. Que sera is the start.
Not the old version . The truth is the truth and it seems every liar
and influencer succeeds. That is the end of civilization.
Lifeishard Thankyou for your Kind reply , yes i do read the chat , i wish i could be positive , i went to 2 meetings aswell , i believe to think on the Negative side as to protect myself from anyfurther bad neews here , i do wish us all luck and my best to you and all .
Sydas, I have said this to tabs in the past, by the very fact you read this board, there is a part of you still believes, positive over negative all day long. Bonkers I may be, but as the Monkey’s sung about….’ I’am a believer ‘ when I saw Steve’s face, there is no doubt in my mind…. Uuuu yeh I am believer.
Our very own Columbo aka Looed, if I recall many moons ago, he said he “hoped” one day to tells how things transpired , I think that in itself is a clue to how close this is, Looed told us who he was by being mentioned in a court of law.
Tabs stated to Tenners how do you think tenners will do what others with far more brains than myself have haven’t been able to wreck “OUR” little old Frontera????
Sit and doom and gloom all you want, I have been there, got the t-shirt, believe me I was on my back, one day I might meet one of folks and tell you my life story, but am not here to tell you I am sweeping streets. All I am saying to you, life is better looking positive than negative.
I believe our leader is our very own Obi- one, he our last hope..! Now we know what happened to the empire when it tried taking on the Jedi’s
All things bright and beautiful, all companies great and small… just like ours…🙏
GLA real holders
Thanks for the post Jim; that is enough reassurance I need to remain patient and to let this play out to its conclusion.
Just noticed the most upsetting message which confirms why I would like to blow up AIM.
Why raise finance for anybody anywhere? UK First. If I should win the Euro Lottery I shall buy you
a home, RR. Take care. .
Got the message. . GB is turning into chaos. Every risk taker from everywhere comes and takes.
Until there is nothing left. Take care , life is not fair !
Liquidators are closing us down yet people praise them ! Are you all Bonkers , SN my goodness has put us thru hell and you praise him too ,i am at a loss here ! SN knew Zaza was sellling us a dud please god dont tell me otherwise please god ,we have been f...d over and you lot believe , RNS is only what i believe !
Jimslade,
“WE REAL HOLDERS WILL DO WELL” our leader will smash it out the park. In Steve I trust.
Thanks for the update Jim
It’s obviously a time where we are questioning everything that is taking place, quite rightly so.
My take from the comms I have had, from an Individual who in all honesty did not need to is we are all in the same boat, SN included.
We either do well together or not and that includes SN.
There may be the possibility that everything has been transferred to FRUS or wherever, even us Shareholders and that it is known that the Liquidators will challenge that. My guess is that such a challenge would likely be successful, but is it a move to buy time to get FRR on a position to pay off the creditors in the meantime?
If there is nothing of much worth left in FRC then the Liquidators will soon be on the case to check the transactions to see where it's all gone and follow that up. Questions posted to them may give us a better idea of where we stand. My only other thought is possibly enough money was left in FRC after the rest was transferred that will satisfy what the Creditors are after, and that will be that one sorted but I am doubtful of that as FRR has rarely had two coppers to rub together.
SN may not have done any wrongdoing by us shareholders but he may be playing along the creditors to gain time. That or it may really be the endgame. I don't know that even despite what Looed seems to think that we can assume that the assets and all are anywhere but in FRC. I personally would rather hear from the horses mouth, the Liquidators what the situation is with FRC than sit quiet and hope SN is as straight as an arrow and doing right by us but telling us little. I can understand why he/FRR tells us little but from where I am sat I just have too little to go on as a result to have any clue if all is ok.
Madpunter, TW attacked with unacceptable words which
I wrote down. Here are my last words. Good luck to all of us FRR investors
and everyone working in our interest. Thank you.
Apologies Mad, fat fingers here hit the f
Great write up Mafpunter
I remember when FRR was very cautious at shareholder presentations, as they believed that some enemies of the company had bought shares to be able to attend. Cheesy was wrongly accused if my memory is correct. There have been many enemies and at the time in question, I think that TW et al were high on the list. It is obvious to most on here why SN has to keep his cards close to his chest. IMHO anyone who doesn't understand the reasons for Frontera keeping schtum is possibly one of those enemies or not very bright. There's more risk of harm to the company than getting a result from the liquidator's. As tsbs1 pointed out big companies with money and lawyers haven't been able to get monies owed, hence the liquidation of FRC. Therefore, it's best to wait and let events unfold otherwise there's the possibility of risk to Frontera and it's shareholders (that includes us, as I believe SN is on our side. I've given my reasons for this belief numerous times).