Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Slift,
"There isn't a win scenario here. It's 5% or 0%."
Balls. That's just what you and Mcadder are just paid to tell us.
Right now the scenario is rather like a casino which has a big poster outside saying 'Come in here and lose all your money !". While the bright lights still shine, and the fruit-machines remain functional. Some of us are not so much interested in shoving tokens into the one-armed-bandits, but instead, who's paying the electricity-bill.
"The latest RNS is an all-out 'declaration of war' between the BoD and the shareholders"
Is it? I think you'll find the war was over before it even started!
adoubleuk,
There isn't a win scenario here.
It's 5% or 0%.
But if you want to be naive and think there is an alternative, state it. Because as it stands, it's insolvent.
And to go with the analogy, there is no matches left in the shareholders' matchbox.
Slift,
"Guess you're also used to losing money. Well then, for your sake.. (and others here who have suggested that the court shouldn't sanction the plan).. I hope the court doesn't sanction the restructuring plan. 0% is what you want right? Fine by me."
If you're not used to losing money, you shouldn't be in the game. And the road home in the middle of the night can be a dark and horrible place to be after a losing evening. But can be great the following week when you go back and win, wiping the grins off the previous winners' faces.
Even if now, shareholders may only win a pyrrhric victory. But better to watch one's enemy's house burn down in the knowledge that one's matches haven't been wasted, instead of using them to light a barbecue.
The latest RNS is an all-out 'declaration of war' between the BoD and the shareholders. Also, by whom has it been verified to ensure its truthfulness?
I am no admirer of Mr Bernstein or his company Crystal Amber, nor his modus operandum, nor his style, Mayfair offices, Bentley, and so on. But nevertheless I reckon he's now the biggest cannon on the deck, and is not going to allow this evident scam to continue without firing off a salvo or two.
Keep writing to your local media. This isn't some halfbrained fertilizer-mine project in Yorkshire being talked about. It's a working and still profitable oilfield being sold down the pan, for reasons as yet unknown, and to whom (?), but eventually the truth will out.
Btw: To help people keep a strong head, watch this. https://www.youtube.com/watch?v=GEPbDJ_6aBM The first ten minutes are absolutely hilarious. When your equipment doesn't work, just give it a good kicking. Then turn up the volume.
"I'm used to stressful commercial situations."
Guess you're also used to losing money.
Well then, for your sake.. (and others here who have suggested that the court shouldn't sanction the plan).. I hope the court doesn't sanction the restructuring plan.
0% is what you want right? Fine by me.
Well RosieNas,
If you aren't going to come up with an alternative plan, then stop complaining or moaning. There are none.
Attacking me isn't going to get your investment back either.
RosieNas,
"If doesn't go through...Shareholders can vote off the board in June and other options can come into play."
Not a single person has come up or suggested a viable alternative to the restructure plan. (Because there are none).
State another option.
5% is not worth having
Exactly Maestros.
5% or 0%.
Take your pick peoples.
The way I see it is that it goes through and your shares are worth nothing and if it doesn’t your shares are worth nothing as the CO is in liquidation
"Shareholders and Bondholders are reminded that in the event the Restructuring Plan is not approved by Bondholders at the Plan Meeting, or if it is approved by Bondholders but not sanctioned by the Court, the Restructuring will not be capable of being implemented. In that scenario, it is likely that there would be a controlled wind-down of the Group's operations followed by an insolvent liquidation of the Company. "
"The Company notes that, as at the date of this announcement, the Lock-up Agreement has been executed or acceded to by entities holding in aggregate approximately 83.25% by value of the Convertible Bonds. The Company considers this to be an important step towards implementation of the Restructuring Plan. "