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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dont forget your dealing fee.
I lost £16K here, hope that makes you feel a little better!
£1750 -> £480 -> £48 -> £4.80 well at least I can buy a pint.. or can when this **** pile reopens...
totally diluted...ugh..
Result of Gen meeting
problem was Gerhart that everyone now knows about the absolutely poor performance of the BOD and by all accounts only managed to stump up 2@6 of the 3million GBP to be wasted on Shannon !!,not the Shannon at Puka either.IGS was really suckered when he employed the Santos Sample Snatcher Parkes it was all downhill from there and now the final kaboom.
Were the dates they let their mates out.Rawson, in particular, is the screaming red flag that I ignored.Why would the original discoverers of Puka decide they wanted out on that week of all weeks?Weird! What a coincidence.I wonder what IGS is walking away with here? 225k? Nah,Something must be afoot but then even if he leaves with nothing he has been on the gravy train long enough.He has had a good enough drink out of us all.a good run indeed.
I think for me and, as now we know, this RNS regarding Puka 3 was a real body blow.There had been real concerns on this bb about the state of KEA but i think after this information,i think there was alot of people including myself who knew that was the killer blow.If it had come good,who knows but to see it come down to this in nearly 12 months is just awful.GLA to any investors still here for next week but i think we all know whats about to unfold.
I didn't vote through my nominee account. Simply couldn't decide to vote for: the finite, liquidation, or the complete sh@@ deal now and some minute possibility of future benefit. Wish there was someone in the LSE to have this looked at - just looks criminal. Management take advantage of disengaged shareholders, who turned away from Primary Bid fundraising... Anyone going to the meeting on Monday? (soooo completely hacked off at this...and never did receive a reply to my email from 30th June)
Lost for words now with this company.Am devastated that a company with such an decent prospect a few years ago is now in the position it finds itself.The money shareholders have ploughed into this adventure to give these guys the backing must be commended,but to watch and look at the the way it has been used is quite appalling.I only hope that IRGS and his team are classed as incompetent and failures throughout the industry.Then again with all the money they have will they be bothered.Doubt it. Round of applause for The board of Kea Petroleum
Good morning guys I guess you can add my 50k in the shredder as well , might be enough left to buy a coffee down at the beach I'm going on 70 now so basicly would have been left in the bank can't "afford " to get stressed out over this . Good luck to you all .
You can forget the tax losses. They will be gone.We are in to the last hour for sending in proxies now, and I expect IRGS and his henchman Lees, despite only having 1/6 of the shares, will carry the day due to general shareholder disillusionment and apathy. But you never know, perhaps some other substantial shareholder will stand up at the SGM and say he will top the deal. Which we are all agreed is truly dreadful. Yes I agree, they had better deals or could easily have got them. But these b***ards did not want that.
Just read the last RNS and it will some up what happening here.. been sold way too cheaply here.. no shareholder value at all.. don't know what IRGS has been up to.. only thing I will approve is the disposal of the assets and the rest i'm against/ abstain as i rather have some money before they sub-dividee again by 10 which leave my 30k investement down 700 and then down to 70.. so i rather just dispose the assets of and not let the company continue.. unless they have real plans and use the AIM status as bargaining tool for RTO and use the tax losses accumulated over the years..only attraction i can see...
I am sure they have been offered better than this deal on the basis the present management weren't involved in any way,but that wouldn't work for them now would it.if the vote is NO it wont make any difference for the shareholders the final return will be the same (nothing),its the trademark over the life of this company.
I was wondering if anyone is going to the meeting next week. I haven't decided whether to vote for the "deal" or vote against it, and in effect into liquidation. Seems like an incredible sh*t deal, but would the liquidator get more? And how much would their fees ultimately suck out? Emailed Co yesterday week ago, but haven't received a response. Hardly surprising I guess.
Hi Da-Gee hav'nt looked at this for months gave me nightmares as you may remember bought heavily into this still clinging on finally have the courage to have a peek , could you be kind enough to give an update glad I listened to my wife and kept a few eggs out of the basket . Regards
I did my research and decided KEA was undervalued but I wasn't expecting them to sell their crown jewels for a tiny fraction of their true worth. An asset supposedly worth £10.35m is being sold for £222,550 and if the sale doesn't go through then KEA has to pay the disappointed buyer £111,275! It stinks! It might be legal but it's still a crime and only brings AIM even more bad publicity. According to a recent article I read you have a 1.4% chance of investing in a 10-plus-bagger on AIM. A 30% chance of losing 95% of your money and a 72% chance of seeing your investment fall in value. It makes me wonder why I bother except we're all hoping our investments are in the 1.4%.
'The Directors unanimously recommend that shareholders vote in favour of all the resolutions to be proposed at the General Meeting, as they and those persons connected with them intend to do in relation to their Ordinary Shares (representing 15.66 % of Kea's existing ordinary share capital). General Meeting A General Meeting of the Company will be held at the Company's offices at 1st Floor, 5-8 The Sanctuary, London SW1P 3JS on 13 July 2015 at 12 noon. Expected timetable of principal events 2015 Posting of the Notice of GM and form of proxy 26 June Latest time and date for receipt of forms of proxy 12 noon on 9 July General Meeting of the Company 12 noon on 13 July Record date 5pm on 13 July Share reorganisation becomes effective 14 July
Theonion, thanks. Be very interesting to see what MEO announce. But at 0.5m NZ$ you would think that they would wanna take it over, find a farm in partner, and offer a good chunk of Shannon in return for a free carry. As an aside for Kea shareholders, MEO sp is equivalent to 0.8p, would you consider investing in MEO if they got the Puka field in its entirety?
That's what pre emotive right is all about. The right of an existing partner to match any deal offered by an outside third party, and take the deal for itself. Standard in many lines of business, not just oil exploration
Thanks for the info - I'm 'holding' at 14p... I should have sold at 30p... I don't think I'll be recovering that in a hurry..!
Is that a for definite, that all they need to do is match the existing offer? If so then yes I agree they would obviously only "offer" match so to speak. Assuming MEO is indeed interested in making a counter offer, then it would have to be at least marginally better than the existing one? From reading the last RNS it seems that the proposed sale to Calieri will not go ahead unless MEO waives its existing pre-emption rights. No announcement from MEO management so far, wonder what their tactics will be.
Given that MEO have the right to match this deal, why should they offer anything better?
Does anyone think MEO might not waive its pre-emption rights, but instead make a counter offer for the remainder of the project, or maybe 90% with a 10% free carry to Kea? Maybe some sort of a deal with MEO might end up being better in the end for Kea. The MEO forum on Hot Copper has some chatter on Puka.