Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
FatSam62,
"I remain extremely optimistic and congratulate all shareholders."
My feeling, having watched the whole thing, is that it's just the start. The judge (obviously a very smart cookie indeed) was doing lots of listening, and only interjecting with questions when he considered it pertinent. Also I found the relative 'body language' extremely interesting. Hurricane's council forever covering his mouth with his hand, or pretending to look thoughtful, which is a sure sign of a bluff in progress. Also, as things progressed, he started to refer to Richard Chaffe as though he were God Almighty. The judge will not have missed that.
All we've seen is 'round one''
One outcome is that there will have to be an EGM, and the judge (very rightly) questioned the idea of the EGM taking place at the same time as the AGM, after the preceding 'sanction hearing', which Hurricane's lawyers appear to feel will be rubber-stamped. That will be round two. And I have a strong feeling that they may not obtain that stamp they desire.
Also, I found it highly significant that CA chose not to represent themselves onscreen today. Biding their time...
By the way (for those few interested), I myself had been accepted for a brief (I had three things to say) 'interception' after the break in procedings, and was called for twice. Unfortunately, not being used to the software format, I was unable to turn on my video and microphone, so that didn't happen. But no big deal.
NGR,
"if the ESP fails...................."
But what if it doesn't ?
You want to know something, mister ?
You're getting right up some people's wick. With your prophesies of doom and all the rest, while at the same time saying that you are 'trying to help'. Because you are not. Instead you are deliberately tying to dislodge some people from what (if they've any sense) already know is a rather precarious or uncertain position, to use the rock-climbing analogy mentioned yesterday.
I do wish you'd cease from this. It's not earning you any friends, instead you're accumulating enemies, who will listen less and less to your crazy rambles, but fire down more cannonballs on your rather exposed position.
"So the COmpany's timeline and plans shafted? Or are we still awaiting a ruling?"
Ruling now given. Despite attempts to get mic / camera to turn on, to give further input, was unable to do so.
But BoD's QC and leagle advice definitely on the run, and the judge quite evidently looking at shareholders not being tossed down the drain. Hope yet.
Interesting stuff so far. Currently 'on break' for lunch.
Thatb judge is a sharp cookie. Listening a lot, not intervening too much.
Watch the HUR representative lawyer's 'body language'. Some of which are classic 'poker tells' which one watches out for at the table. Half-covering his mouth, assuming a kind of 'thoughtful' pose, leaning over with fingers on cheek, or even sometimes looking aside. Dead giveaways. He's trying to run a tremendous bluff.
Joker,
"Double I remember you from the heady day's of 50 plus pence, did you lose a bundle here or sell before this returned to a penny share?"
Overall, including charges, I reckon I've lost a few hundred, but given the length of time I've held here, and that it was a five-figure sum, that's not too terrible. Nevertheless a loss is a loss, and disappointing. I only bought in again recently (not nearly such a large sum) because either this is the endgame, or a big revaluation is due, so wanted some skin in the game. Pretty much a pure gamble.
CaptSwag,
"Awk - with all respect have you used teams before ?" (As in 'Microsoft Teams')
No, never. Tomorrow will be the first time, and will only click on the link about 15 minutes beforehand to try and find how (or if) it works.
However, though I can't disclose details, this will not be 'open shop' unless some idiot discloses the actual link.
winalot,
Agreed, and I admire and thank you for trying. Every little helps, and rattling the bars of the cages keeps the tigers aware that they don't necessarily rule the roost, and might remind them who's providing their food.
No offense meant.
Mcbladder
"Oil going in the wrong direction"
Wow ! I missed that. Maybe I should get in my car and drive down to Biscarosse or somewhere like that to watch it. One of those old 'nodding donkeys' going flat-out and backwards because the well's sucking the oil back in. Though during the drive I'd be checking my instruments carefully. Wouldn't want to find air going into my crankcase and lubricant coming out of the air-conditioner.
CaptSwag,
"I suspect the "gallery" will be muted. "
It's not a question of that. It's not 'zoom'. This is why (without wishing to cause offense to anyone who has been accepted to 'attend') I urge reading the small print. Turn off cameras and microphones. This is not me treating others like children. Just that such requests from the people who have sent the link put them further down the page, and might have been missed, or ignored.
winalot,
Thanks for your message with reply from OGA. Without wishing to appear smart**s, it's pretty much I suspected they might write as a response. What I'd like to know personally is exactly why the decision (on the part of OGA, with the collaboration of Spirit and Hurricane) to P&A Lincoln, rather than to tie-in, why the delay, what has happened to the equipment bought for that, what is the rig contracted for the work, and so on. Technical specifics, in other words, not commercial generalities.
I admire your attempts at getting some answers, but suspect it will take some hard and detailed ground-digging in some possibly murky and hard ground to obtain them.
senseman,
"aduk
that is the umpteeth time you have written that
we are children, thank you"
I'm sorry if I offended. I didn't mean to. But some people writing here do so in a very childish way (not yourself) so I ferlt a reminder about 'good behaviour' might not be out of place.
Also, by 'protocols' I was referring to some of the small print, which I do feel at liberty to discuss. For those joining in as observers of the hearing, disable the camera and microphone on your computer / smartphone. You're there as an observer only, so will neither be seen, nor heard. However with microphone / camera enabled you'll be inadvertently be clogging up bandwidth, maybe slowing down the webcast for others.
OK, kiddies.
Lesson two. Birds and bees...
senseman,
"Have received via email invitation to tomorrow's Hearing via Microsoft Teams. So court system is working OK"
Likewise.
Please, everyone, observe requested protocol.
Tuxedo8,
"BTW SauerKraut, wondering why do I even bother responding to you when you know nothing and write some utter rubbish, filtered"
Tempted to do the same, but advise against it. Don't filter him, despite all he writes is rubbish. Give him his lead, write back occasionally, let his own stupidity wear himself out.
SauerKraut indeed. Possibly the most disgusting meal on the planet.
Ricardo2019,
"Good shout. This was one of the issues with this weeks AMIGO hearing. Court clerk was not happy with muppets who turned up and expected not to have to identify themselves."
Not a 'shout' as such, just a statement of fact ! Based on correspondence already received. I know nothing of AMIGO. But it it obvious that this initial HUR hearing is costing people a lot of time and headache, and that they're working on it flat-out. I gave my 'contact details' immediately to the lady responsible for 'access to the public gallery', without being asked, got an almost immediate response, and so on.
But the thing is not going to be some sort of netflix soap-opera for all to see nor commemt upon, that's for certain. There may even be protocols advised by the judge regarding commentary after his initial ruling regarding the initial hearing, I don't know. But if they're imposed, I'll abide by them.
senseman,
" can't see Judge wanting poss 100-200 shareholders being able to butt in, would be almost impossible to control"
That will evidently not be how it works. Also, despite the density (!!!!!!!) of today's RNS, it is simply the first part of a process that the BoD has been planning for months.
I am not a lawyer, but my understanding of tomorrow's hearing is whether the judge considers that Hurricane has a reasonable basis on which to pursue its proposed 'financial restructuring plan'.
But whatever his judgement, that won't be the end of the story. Wade into the deep and muddy waters of today's RNS to find out more.
I'm not too sure that all the bondholders are going to be too happy with the plan, neither.
senseman, CaptSwag, et al
"Captain - would agree likely invitees muted and not visible. only workable ay. we will of course be glad if can just listen, if we can also view, a bonus"
From information already received (awaiting more info) do NOT consider yourselves 'invitees', and no, anyone watching will be on an 'observational' basis only. Not some family lockdown zoom-meeting thing.
PLEASE observe all protocols advised if you allowed 'access'.
Be prepared to have to give personal details to be entered into court register if you request access.
'British' (and others)
Wrt the email address 'senseman' posted.
It's correct, but from the correspondence I've already received, those people are already working overtime on this. Be polite and brief in any emails sent.
Something I think I can disclose is that anyone 'observing' the hearing will only be doing so in an 'observational' capacity, just as if one were in the public gallery at any other open hearing back in 'normal' times.
Also, when sent the weblink, PLEASE observe the court instuction NOT to post it here nor on any public forum. Out of sheer politeness, and 'sticking to due form'. The judge and the court have no reason nor desire to have an unruly mob at the door.
Go through the correct channels, and as I've already found via emails already sent and responses received, doors will be opened.
But also remember something. The door to the wardrobe may be opened, but that doesn't necessarily one will get into Narnia. That remains to be found out, tomorrow.
Sour,
"< half a pee by the end of today."
You'd better go drink some more tea in that case.
senseman,
Can't disagree with your post. Maybe in detail, but not in spirit and approach.
Yeah, keep those emails going, to whoever. Ruin their day.
But when emailing the press or the judiciary, be more polite, and measured...
Bombard OGA, though. Demand explanations (which won't be forthcoming).
Mcblader,
"wouldn't even buy at 0.2p thanks to that restructuring plan"
Don't think you'll find anyone selling at that, so you'd be wasting your time putting up such an offer. Why don't you just go and make yourself a nice cup of tea?