Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Anyone accurately know what we can get from the fire sale which is most inevitable. What have we got in terms of assets to sell.
We all know threre are a lot of banjaxed management teams - and crooks too(!) on the AIM. But you'll not find many Co's where some of the BOD, or their friends, have actually stumped up as much of their own hard cash as they have here in KEA. And still the whole thing may yet go belly up. But those peeps are sitting on larger paper losses too. Vastly more than all of us (probably!) put together. No one forced me to invest in an oil exploration company that sticks drills - in what they think is the best point - in the ground in the hope of striking oil. And no one forced anyone else either. I'm sorry for you if you are in the same position as me. But the candle hasn't gone out yet. I still think peeps missed a fantastic opportunity on the Primary bid thing. Cos if that had worked, then the SP would have risen big time on the period before the drill and peeps would have had an opportunity to trade, or get out, at the best possible price before the result. And I think that is something that IRGS alluded too. But sometimes peeps are not prepared to take a risk especially in times like this for oil SP stability. But still a little hope left. Ce Sera Sera.
according to Trade Me in NZ 32 million would buy a pretty nice dairy farm even though you wouldn't make any money at todays prices the way IGS would run it but you would still have an asset that could be sold for only a small loss, not a complete catastrophic failure as we have here now. orange milkshake any body or for the BOD a caramel one.
this news comes as no surprise to anyone with half a brain, problem the shareholders have is the lack of management from the BOD and IGS, yes it maybe a great little project and that's exactly all it is,( little prospect) but hasn't any prospect while the turkeys are trying to run it, yes there maybe an odd vulture but they are too scared to land near the corpse.... compact the shares 10 to 1 then suspend them that's a real class act isn't it, maybe they should spend all their time playing golf as they aren't any good at running an exploration company.
As well as asking this, the breakdown of the £3m would also have been important, how much of this would have been admin
OMG OMG OMG https://www.youtube.com/watch?v=EmxR5synVlc At 28.40, IRGS is asked a straight question, are you back in on this, he pauses for two seconds and says "if I were not a director of the company I would put all £3m in" he then goes off on one trying to say how he cant do this blah blah blah This is an absolute disgrace, who does he think he is talking to, there is a simple option here, it is called a loan, loan the company the money ffs if you are that confident in the future As a former shareholder this guy is unbelievably condescending
you are of course no doubt about it
My entire holding last Friday and could have spent it on a bank holiday takeaway pizza for the family.
Coat ha ha Find yours Nothing to wear Joker nothing else
for a little bit of something for shareholders as IRGS will want some return on his shareholding and he won't want to leave a cloud behind him but it will be little & expecting anything much more, would be going down the wishful thinking route all over again..
Delist and roughly 0.2 to 0.0 per share back for shareholders..Igs will then flog puka cheap for a nice lump sum with infrastructure thrown in.A cheap start up for a fledgling aim oily who know which end of the drill is which with say £20 mill in their post IPO coffers will be IGS target customer group.I think we can rule out any interest from the majors because we ended up giving MEO (ffs) a third of puka last time and if a major was truly interested then it would of been a done deal years ago......btw this man has spent 50m to end up with 70% of the royalties of his first and only hit...feel sorry for all here but it has been coming since puka..the "last roll of dice" Everything since has just been involuntary noises from the corpse and the placing was another attempt to waste perfectly good antibiotics pumping them into the corpse.....zip it up boys it's starting to stink and shake is right ..it's rotten to the core.
Lol. Some people really should NOT be playing the stock market
What you need to understand is we not broke we are in negotiations and kea did not say how much they managed through primary bid it could be few hundreds short from the 3 mil and the board is heavily invested .yes do know Ian not on a personal basis through oil and gas and pharmaceutical this guy is different from the other CEO worst come cinerio he is willing to buy at premium he said on that evening I was there I did come across some city hedge fund managers there who is invested in kea so it's not all doom and gloom we haven't still declared 0000000
You're off your head talking pish. You write like you know the bloody guy. I've lost so much and I'm fed up of hearing rhetoric. Facts are required and the fact is the company is suspended as it can't carry on as a going concern. Get it!!
I am not even thinking of disappearance of hea at this cross road you have a multi millioner backing producing wells assets are valuable and oil is in Shannon share price is 1.18p about the bid price and talk of farmout is at crucial stage watch out for ians game plan ......its going to be very very interesting share to take in coming days in aim remember he is still in town not to play golf is to do business. ...
Well I think we need not kid ourselves any longer guys. The boat we have been watching for a while now, sailing towards the horizon with our money on board has finally disappeared beyond the horizon. I continue to watch the horizon with vain hope that it may turn around, but in my heart I know it's not coming back. There's a few of us standing at the quayside staring longingly but I think we have to admit it to ourselves - it's time to turn away and look somewhere else. GLA
Not sure where you are coming from here RERE with your positivity! Why go down the route of, what would have been massive dilution - primnary bid process, where all 3mil might have been raised at 1p per share, if you have a better plan? I agreee that IGS, and the other major shareholders, won't "walk away", but they will look at the best way to MAX a return on what they have already put in (an awful lot!) and that could be a number of ways, including pumping in more of their own cash for shares; or a fire sale or full sale of Co - if that seems most profitable route route. The middle East is as bad as it ever is, so hopefully oil price will keep rising, which is one glimer of light...Mind, maybe not for the poor folks of the middle East!
I guess the $1 million pledged was from IRGS and his mates to get the ball rolling. It didn't work, so they risked nothing
So it's essentially a private company now. Is that the flap of vultures' wings I can hear overhead?
In a real world of investment Ian will not go alone he did say on the q and a on the investers evening he will put down a substantial amount as Shannon punt and he knows oil is there as a shured invester he need minimum investment for maximum return I personally think they have a farm out partner as well poss from next door oil field it's a slap in the face for meo management Ian have far greater experience than that lot and contacts remember he will not walk away from hea it's going to be a happy ending feel realey good about this share now than a week ago not knowing where is the and now it's al comming to gather good luck for punters already bought kea
Hi Baff, no offence intended! But I think your flagging us as a "strong buy" is fascinating - but maybe a good omen too! But the thing is, we might never be UNsuspended!!!!!!!!!
to say that we may have a take over offer for us? Any thoughts?
It was a raw deal for long term investors if primary bids failed..this is now the raw deal bit he spoke of..
Well I have to admit I was wrong. I thought enough peeps would have taken the risk. Depite having to extend the process - they said they had in excess of 1mil at that point - so I hoped and expected we'd cross the line. Wonder how close we got? I thought that the BOD would underwrite the (almost enough) PI bids. Maybe they had put in quite a lot anyway. Clearly IGS was understandably looking for people to share the load as he had put in quite a bit already. But I wish I was as clear as you RERE on what happens next. One imagines the BOD would have to pay a reasonable price to take the Co private given the sales pitch Ian did over the last few weeks. What prospects for a farm-in that hasn't already happened?
Ians cheq book and farmout deal will close the bid with style it's a cleaver way to suspend the shares once the deal is announce it will surge remember when puka 1 drill ....