Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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hasiba,
"I hope the court at least will be adjourned the hearing until after the EGM Voting on 5/7/2021.."
I see no rhyme nor reason why that should happen.
I that His Honorable Judge may listen to reasons for further hearings to be possibly postponed until a later date, until further evidence is presented AS TO HOW THAT MAY BE JUSTIFED, and why.
However a court cannot be summarily 'adjourned' just like that, otherwise.
Reasons and explanations have to be submitted to the court for 'postponing things'. Sure, following such submississions, the judge may rule upon them, pretty much instantaneously, presenting his reasoning why. But the hearing is already on the schedule and thus has to take place, no matter how brief it may be.
Having read the CA document I am quite optimistic that the hearing will be postponed.There is no urgency for a rushed meeting so the most reasonable conclusion will be to delay matters for all sides to present their case in detail.
Detailed email sent to the court …
I hope the court at least will be adjourned the hearing until after the EGM Voting on 5/7/2021..
beary
transy don't get bored writing deviancy cos it's his job. he's a paid wh*re, a canary, a cn*t. gets a bonus the more patient he is. he ain't a man, he's a thing, waste of oxygen
poke fun at him, ignore attempts to suck you into futile argument - really ****es him of, espec as can't lose his temper on forum
afternoon transy....kisses x
RNS I have no problem with listening / reading the positives and negatives with regards to investments I have made. As I said if it is to be a loss then so be it (I'm big enough and old enough to take the hit). However some of the tone has been nothing but gloating which is not something that can be reasoned with.
I was one of the lucky ones who bought into Sirius Minerals @ 2.5p and sold out when they were bought over. At no point did I think about gloating to the poor sods who some had lost their life savings (Or very little return on their investment).
Reasoned debate and alternative views are all good, gloating........come on, that's simply not cricket :)
Alavi, Cebo et al.
The document you are referring to is CA’s Skeleton Argument submitted to the Court on the 15 June. This together with:
The Expert Report of J Fuller - Xodus Group (CA’s Oil experts)
The Witness Statement of R Bernstein – Crystal Amber
The Witness Statement of SM Walton – Rosenblatt (CA’s Solicitors)
Together with relevant documents can be found and downloaded from the Hurricane Website .
hurricaneenergy.com/investors/financial-restructuring-documentation
Right riveting reads – and very informative!
I suggest that they are read by everone, particularly if there is an intention to speak at the Court Hearing.
An industrious and diligent weekend will provide its rewards.
Cebo
Have you been sent any correspondence from CA?
I have, it’s a 36 page PDF which is their letter to the court
For obvious reasons I can’t copy of the contents of this letter but I am sure if you log on to their website you maybe able to access it
I can only tell you that is is very professionally prepared with solid arguments asking the judge to at least delay the ruling till Sept this year thus preventing the company to in case of getting approval from the court to issue additional share to the CB holders to the tune of 95% of the existing share capital and hence prevent the current shareholders ability to vote for the 7 resolutions proposed by CA on July 05
It says the crooks in charge deliberately delayed the EGM to July 05 so that if the scam was approved by the court they will immediately issue the billions of new shares to the CB holders so that the vote will go in their favor on July 05
We did not know this as the reason for July 05 date now we know
So please if you have not done so far go right ahead and send emails to court and let the court know about your objections to the scam, it is not too late as the case is not due for hearing till 1400 on Monday so the judge will have time to read as many as possible all pointing to one thing total objection to the scam
Please do not delay go ahead and send the court the emails
RNS.that is complete nonsense.NOONE spends most of their life posting about a company they have no shares in without an agenda.You have an agenda.We dont know what it is but it is not benign,definitely immoral,possibly illegal
"RNS, I would ask you the same question as I asked Slift and got no reply.......If you are not invested in HUR then why are you on this message board?"
Firstly its a fascinating insight into how some shareholders behave, - "just tell me the upside, I don't want to hear any negativity, or indeed understand the potential range of outcomes,"
Secondly to counter those who deliberately mislead for their own ends.
This is not simply a public forum for "believers", if you want that then set up a private group of likeminded folks...You may not want to hear anything but positivity, that's your choice, that's also not investing, its gambling, anyone not interested in the full picture can simply ignore what I say.
The fact they feel the need to respond by abuse rather than reasoned argument tells you all you need to know...
Bmbear, you don't need to be invested to read or post here, I have no shares (simply too high risk for me now) but do both. - however that is slightly different to those that post negative drivel multiple times a day - I dont believe that they have Shorts open (very unlikely), nor are they working for MM's etc (BB Bu||sh¡t), I guess they are just sad individuals that have lost money on this or other shares, or just very sad, lonely and pathetic people in general that want some attention for whatever reasons.
Anyway a couple of thoughts - CA, RB in particular, is no mug, surely if he thought there wasn't some sort of hope then he would have slowly dumped/unloaded a load of shares over the last month or so - he hasn't.
Also surely those posters on here actively encouraging share holders to vote now for the AGM and GM isn't this a bit pointless or premature - as I suspect that after Monday's ruling, the SH register will look completely different - if the judge rules in favour of the Bondholders restructuring then shareholders will possibly jump ship to salvage whatever they can, If it goes against the bondholders then depending on the SP, a good few less risk adverse investors will jump on board for the rise and ride and others take profits or cut losses.
I haven't tried to work out what the Price of Oil needs to be times the average production or the value in equipment, tax losses etc, to try and work out if the Company can pay back the Bondholders when due, but I though Tom Smith QC didnt do the Bondholders any favours when he mentioned (a couple of times) that the Bond-holders expected to take a "haircut" either way - this leaves any counter proposal or argument a bit of wiggle room when putting forward different scenarios, even proposals which may encourage the judge to postpone or even throw out the restructuring plan.
Anyway to those holding, good luck for the hearing next week and have a great weekend all (even the sad pathetic posters that are peddling doom and gloom).
As a LTH, I would rather walk away with nothing than accept the deal with Bond Holders. Yes I am pi@@ed off that I may be looking at a big loss but I can deal with that. What really gets me is gloating A holes who seem to get off on other peoples misfortune.
RNS, I would ask you the same question as I asked Slift and got no reply.......If you are not invested in HUR then why are you on this message board?
Womble
CA admit the debt cannot be repaid in July 22, and as such accepts that any solution requires bondholders consent.
Their plan is simply to remove the board and attempt to renegotiate and hope to do better than 5%.
The bondholders argument pretty much dismisses CA’s position, both legally and commercially, and calls out the shareholders who would rather have 0% than 5%…
“ Whilst many shareholders have expressed concern that they are ‘out of the money’ in the relevant alternative and that they will be retaining only 5% of the equity under the Plan, it is relevant to note that 7.66% of voting shareholders actually chose to vote in favour of the Plan [1256], presumably because they understand and accept that 5% of something is better than 100% of nothing. Even from the perspective of the existing shareholders, therefore, the Plan is one which an intelligent and honest shareholder, acting in respect of its interests, might reasonably approve.”
From Wendy Simpson, Clerk to Mr Justice Zacaroli (Tel 0207 9476775)
TO VIEW HEARING ONLINE VIA MICROSOFT TEAMS
email request to attend to:
wendy.simpson@Justice.gov.uk - Subject Ref HURRICANE ENERGY PLC-CR-2021-000852 - HEARING 21 JUNE
you will be sent new link each day (hearing listed 21-23 June, commence 21 June 2pm
do NOT copy link to anyone - contempt of court
TO SPEAK AT HEARING (VIA MICROSOFT TEAMS LINK)
email stating wish to, to:
wendy.simpson@Justice.gov.uk - Subject Ref: HURRICANE ENERGY PLC-CR-2021-000852 - 21 JUNE HEARING
this does NOT oblige you to speak, serves as indicator to Judge (Judge asked for) how many may wish to
If do not write, can still speak, Judge will likely invite towards end of Hearing
NOTE - To view online + request to speak can be dealt with in a SINGLE email to wendy.simpson@Justice.gov.uk
WRITTEN REPRESENTATIONS AGAINST PLAN TO MR JUSTICE ZACAROLI
email to 3 (Three) addresses
wendy.simpson@Justice.gov.uk
ChanceryJudgesListing@Justice.gov.uk
hurricane@dentons.com
Subject Ref: HURRICANE ENERGY PLC-CR-2021-00852 - MR JUSTICE ZACAROLI - REPRESENTATIONS AGAINST 'THE PLAN'
NOTE: Judge will consider all representations already forwarded for 21 May Convening Hearing (1st Hearing). So those who have written before do not need resend. But can write again, or further, if so wish. Anyone not having written, but still wishing to, can do so EVEN AT THIS LATE STAGE - 9JUNE DEADLINE IS NOT BEING ADHERED TO