Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Are we still liable for capital gains (£65M?) to FIG and when
Cubane
This is a opportunity not to be missed so I though I would start a thread where we can get a concise list of questions that we can ask the board, rather than everyone send individually and they have to trawl through hundreds of emails ask same think, so for anyone interested, as you think of a question, copy and paste it to the list below if you like. To set the ball rolling I have put a couple of questions in no particular order;
1. From half year results Harbour wrote; "The Group has decided to explore the options to exit the project and its other license
interests in the Falkland Islands". As Harbour has stated, " the development of the project is not deemed a strategic fit for Harbour." then what is there to discuss? They will not develop SL so their license should revert to us. I am concerned that extended discussions will inhibit our moving forward with other interested parties.
2. What costs are involve in Harbours exit, what are our liabilities with this exit?
3. What has happened with UKEF? Presumable it's a non starter now the major player Harbour is walking away.
4. What will you do to preserve current cash until the arbitration result is though, and going forward if Italy drag their feet to pay, how do you plan on keep the company afloat with current cash burn?
5. What will you do with the arbitration money?
6. You may or may not have had an inkling that Harbour would be walking away, but what have you been doing whist Harbour where reviewing the project? Where you preparing a battle plan to pre-empt such a scenario? If so what is it, can you share you plan going forward with share holders.
7. Has there been any discussion with FIG about further tax incentives/breaks to gain more interest in the project, to get it off the ground. Such as royalty payments put on hold until 1 year after first oil, or a sliding royalty system than enables FIG to reap the rewards during the good times of high oil prices, but works of a sliding scale during tougher times, as I see this as a big hurdle for would be investors.
8. Harbour has been paying our share of costs on the project up to now, when does that end and can Harbour claim back those costs if they were part of a loan until first oil?
This is a opportunity not to be missed so I though I would start a thread where we can get a concise list of questions that we can ask the board, rather than everyone send individually and they have to trawl through hundreds of emails ask same think, so for anyone interested, as you think of a question, copy and paste it to the list below if you like. To set the ball rolling I have put a couple of questions in no particular order;
1. From half year results Harbour wrote; "The Group has decided to explore the options to exit the project and its other license
interests in the Falkland Islands". As Harbour has stated, " the development of the project is not deemed a strategic fit for Harbour." then what is there to discuss? They will not develop SL so their license should revert to us. I am concerned that extended discussions will inhibit our moving forward with other interested parties.
2. What costs are involve in Harbours exit, what are our liabilities with this exit?
3. What has happened with UKEF? Presumable it's a non starter now the major player Harbour is walking away.
4. What will you do to preserve current cash until the arbitration result is though, and going forward if Italy drag their feet to pay, how do you plan on keep the company afloat with current cash burn?
5. What will you do with the arbitration money?
6. You may or may not have had an inkling that Harbour would be walking away, but what have you been doing whist Harbour where reviewing the project? Where you preparing a battle plan to pre-empt such a scenario? If so what is it, can you share you plan going forward with share holders.
7. Has there been any discussion with FIG about further tax incentives/breaks to gain more interest in the project, to get it off the ground. Such as royalty payments put on hold until 1 year after first oil, or a sliding royalty system than enables FIG to reap the rewards during the good times of high oil prices, but works of a sliding scale during tougher times, as I see this as a big hurdle for would be investors.