Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Always felt we had a good case to argue in respect of GGs seeming obstruction of FRR from progressing its activities and programmes. But clearly, what's been going on is a next elevel of corruptedness. At this point, with what's at stake, no room for FRR holding back. Get it out there (unless the GG authorities have agreed to back off behind closed doors). Seems from Zazas recent interview that we seem to be in a position of growing confidence
Huge thanks to the regular slueths and contributors. Said ages back this was the best BB on LSE. This has got to be the case by a mile, given the share has been suspended for over a year and the BB remains as busy as ever.
Good luck to all the genuine folks!!
Good to see such a massive case go against the Russian state and the rights of shareholders taken into consideration. Our case is different but the might of the state does not necessarily take precedence. Lots of accusations of Georgian state corruption are now in public circulation so who knows what FRR can present in private in their defence? I would have thought quite a lot from the time of Kakha Kaladze as Energy Minister.
If Frr keep their % of B12 then it is fairly obvious Frr would not get compensation, as well.
If though B12 was transferred back into GGs hands of which still believe will not be the case. If did though then due to sunk costs & work gone into all of Block 12 then would have thought there is a reasonable chance of being awarded compensation of which have previously mentioned.
Don't forget Zaza said in the last interview that FRR arr not in dispute with GG. It is GG that is in dispute with FRR.
I can't see us getting any compensation, simply holding onto the block, and then perhaps an extension to the PSA.
Bernadotte, very interesting as it refers to the Energy Charter Treaty. According to https://en.wikipedia.org/wiki/Yukos:
The Permanent Court of Arbitration in The Hague ruled unanimously upon awarding compensation of $50 billion for the company's assets, that Yukos was the target of a series of politically motivated attacks by Russian authorities that eventually led to its destruction, and that Russia had expropriated Yukos' assets in breach of the Energy Charter Treaty. The treaty does not prohibit governments seizing or nationalizing commercial assets, but requires investors to be fairly compensated.
Reassuringly, Georgia is a member: https://en.wikipedia.org/wiki/Energy_Charter_Treaty which suggests that if GG expropriated FRR's assets, shareholders may have legitimate grounds for compensation.
That has been on going since 2014! Let's hope this gets sorted out before the arbitration decision