George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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I agree that taking any action against the company is a waste of time.
The only choice we have is for this to play out with our fingers (& toes crossed).
GLA
Looed: you're probably correct: from a practical perspective we have no option but to wait (with fingers and toes crossed). Happy to be corrected if someone does have a viable plan.
GLA
What a load of tosh, no one will do anything. Would have happened already.
For all those wishing to take action against the company why now and not 5 years ago,i agree with looed let things take there course and if nothing in say 6 months then instead of talking about taking action just do it me well i am with looed on this one call me dumb or what but i thin k looed may be right on the company saying we are family just my honest opinion cheers .
Thombola - I suggest you read the message again, it clearly mentions shareholders.
Nothing wrong with action plans but they really do need to be grounded in reality. After all these years I haven’t seen anyone put forward a viable plan. As always, many of the people supporting “calls to arms” are happy to say “do it!” without them having to get their hands dirty. Bothered, but just not ‘that’ bothered, I guess.
The only interest the liquidators / lawyers will have in you is to calculate how much they can squeeze out of you in fees.
“Reverse the liquidation” What does that mean? You are going to pay Mourant $1.3m (plus costs) as a starter? I am sure Mourant will be delighted and all you will have is a still empty shell with a line of secured and unsecured creditors to deal with.
I think it was Thombola who asked about comms with liquidators (sorry for late reply). I expect the comms the liquidator is referring to is their closing statement where they report on their process, disbursements (if any) and their fees.
“Write to the court en masse” sounds fun, but it is a pointless exercise. You cannot just write to court, even if the case was still in session, which it is not. You need to retain counsel, explain your case, persuade them to accept and have counsel Petition the court. What is the case?
No one underestimates how fraught nerves are – but these “ideas” are dead ends and a waste of time. Did anyone even google Cayman law as a starting point to collect information that might be relevant?
These words are a bit concerning from a company.
Because not all shareholders are part of the family, ie ZM!? I guess back to ODR's point that they can can now decide who is part of the family!
Hi Looed, what do you think the ‘end game’ is and why do you think - one week on - there has been no direct comms to the shareholders?
Why use ‘family’ instead of shareholders?
Bravo Contra, it’s why I put GLA real holders, the muppet show still runs today
Quite a mix of opinions here, from manic depressives to optimists. I am in the latter camp and thank Looed for keeping me there. It is however depressing to see posts like that from ian12 that demonstrate inexcusable ignorance.
There have been many ups and downs over the last five years yet there are still those who want to take shots, even legal ones, over what is still a fluid situation. What nonsense. More, maybe not much more, patience is required until a result. Let us keep hoping it will be positive.
How is it that Looed appeared from nowhere and only posts on Frr ??
Is he a Traitor or a Faithful!!
Fibber he is not communicating with us he is going through a third party. If the company was communicating with us id have an e-mail from the company
Of course he could ODR but I don't SN as that type of guy! He would trash his reputation if he did that. Jmo. Hopefully not too long till we find out either way!
Fibber: he can give shares to whoever he wants in whatever the new structure is: so he could give his mates shares and not us.
Lots fibber are worrying about our own popping of clogs, thank god it’s a date most don’t get know about. We all just hope the deal when it is done is “FAIR” and with holders being very much in the thoughts of those doing the deal, possibly a dividend so as not thrown into live market of do I hold or do I sell? Not even fully sure where these shares will pop back up in, pensions, isa’s or trading accounts.?? Lots going on right now , I’am fully behind WHamboy’s write up and thoughts, we sit and wait like we have done for so long, the game of chess is almost over, we await SN calling out “ Check Mate “ he’s won it for us all.!?
GLA real holders
Folk need to remember it's not just us (uk private SHs) involved here. There's institutional investment, SN's pals, other board members with the same shares as us. Getting this and Georgia over the line here has strategic regional importance which will mean far greater to SN than just money. The fact they are communicating with us means (imo) they aren't cutting us out a deal. And yes it has to be a deal...they haven't gone to this effort just to get the nodding donkeys back online! It does look like they are screwing those that screwed them but then I'm all good with that!! I just wish they'd hurry up...my main concern is that SN pops his clogs!!
Kenco/NJames and others
I don’t agree with your view, but I think the idea that we have loads of options if we suddenly act now is laughable. We have very limited options and those options have practically zero chance of getting our money back. The only thing we can realistically do is to sit back and wait, and hope that the company does indeed do the honourable thing and stands by its shareholders. They have spent a long time defending the assets and it implies to me that our shares should be worth considerably more than we paid.
A couple of days ago everyone was apparently reassured: today some are spooked. Time to sit back and let this play out: we’ve waited this long after all and it doesn’t seem that we will have to wait much longer.
Thanks guys for the replies. Best wishes
NJames
Unfortunately I agree
In my account it is 0.3489p that is dated 14/5/2021
“ My opinion is that we have been fed a load of crap to keep us hopeful. He doesn't want us to take any action, then it will be too late when he gets what he wants!”
Absolutely.
10p.. Hell yeah !
Yes good, catch up at the 10p party then eh?
🙂🙂
I'm good Bedders cheers.. Hope all's good at your end..