Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Pyro..good post..trust you had a good holiday..judging by you post your battery’s fully recharged.
Good post Pyro (and welcome back).
Pyro it’s the Cayman Lawyers that are not being paid. California Lawyers appear to be hard at it we believe preparing for next year.
Back from holidays and nothing has changed
Surprised? No.
Anyway some discussion points
1 Not paying lawyers.
Now is this can not pay or a dispute, when you consider how lawyers got it very wrong in Cali courts by withholding info from the Cayman Courts. Genuine mistake or not its does smell of incompetence. So if FRR are angry about this i can understand reluctance to pay extended bill for a case thats been extended and pretty much damaged by those highly paid lawyers. So question is why have they not been paid , can't or won't?
2. YA Global Have they been paid or agreement made to roll over debt? Again very important to know if finances have allowed us to pay this on time or not.
3. Loans :- Did we sign the deal , is it ongoing or dead in the water?
4 BHGE Are they still working with us and in what capacity? BP is NDA still in place, are they still interested and any progress.
5. Whats keeping the lights on? Operations ongoing? on stop? increased? are we financially stable from increased operations.
6 Is any deals on the table? Buy out? Farm in?
7 Lastly i do feel its time for at least limited communication.
It could be as simple as the text below and i urge YJ to push for this ASAP
" We would like to thank our shareholders for their patience through this challenging period. Although we can not give full disclosure we can confirm that operations are continuing and that the company is making profit. We can confirm efforts to sign off a hedge fun loan are continuing and and we aim to complete in last quarter of 2019. The legal issues are continuing and we can not comment further than that. We are confident that all our investment will be secure and we have plans to ensure that is covered from many different scenarios. We hope to hold a shareholder meeting in late 2019 or early 2020 in London. We can confirm that the court have excepted that we are still a financially viable company and that we are able to pay our debts. We can confirm that Yorkville have been paid in full and our obligation to them has now ceased. "
They could change bits to what ever is the fact and include any other information.
Zaza some shareholders may be angry, but standing in front of them and sharing where we are will at least show integrity and help explain why and how we are where we are today.
May be just a select few to attend, those you know from previous meeting so that we do not have any bad apples trying to cause trouble. Some you have met in Georgia and some like me who you met many times in London. We need to evaluate where we are honestly and professionally - I urge FRR to arrange a small scale meeting