Member Info for CF73

*this deal signals it

Wow!!

We're buying 50% of KME equipment and hire and a gold producer with near term production outlook.

There's a lot of money coming our way - and this seal signals it.

Booom!!

Looks like we'll be getting cash injection and also a look at the restructuring. Just a matter of the specifics of the exact numbers.

Great news!

Good luck all genuine holders!

Further to this, if the suggested OOCS were to happen, where no damages to us and Hope moves on with his loan paid (although massively in profit), then the shorters would be worried because we effectively come out of this situation with our 'Jalopy' having been given an all clear MOT. We would come out of suspension ready to gap up and continue to rise in anticipaiton of sigfnicant news, with all road blocks removed.

If the judge is being reasonable, and it does seem they are (without over-privileging any party or compromising their own posiiton), then it should be obvious that whiel ZM and SN being playing a cagey game, that Hope simultaneosly is not there for the benefit and good long term health of FRR. The obvious rooute of this for everyone is for the NY Fund loan to be used to pay Hope/ OMF off and relieve ourselves of Hope/ OMF completely.

This is what I see as reasonable in the circumstances. .

ODR, agreed this is messy. But was always going to be so. Dealing with Hope was critical for the long term health of FRR.

There's been some good discussion around this over the last few days. One reminder has been that the initial ajudication and papers related to Dec 2018 and the some time Jan 2019, and had not yet considered Discovery etc. Importantly, the Judge is already pointing to an OOCS being the best way (can't be sure of the implications for this in light of anything that might emerge from the Disocvery process).

Also, looking at the Court papers we have been able to see to date. it clear that ZM and SN are not getting on with Hope - so there should be no question as to who they are more aligend with.

I have to admit that I am shocked that Hope's offer was not seen as a breach of fiduciary duties (unless we are not up to date with the Judge's position).

Yes, it is messy and remains a wait and see.

Good luck to all genuine holders here.

Much appreciated Kenirogas.

Does anyone have a working link to the judgement or the text in full/part?

Need to take a look properly before coming to any interpretation.

Thanks!

PREM Market cap irrelevant to the listing of NewCo, FACT.

Agreed tedoby, Circum website up and running, containing news of progress and of progress to come is as good as an RNS given they are a private company. And agree that's why PREM are directing us there. Huge amount of clarity there, including around how much they're trying to raise etc. Next news imminent in my view. Good luck all!

Think it's worth reiterating (for what it's worth), that the email trail in the court papers are inconclusive until Hope makes the offer. That's when the breach of fiduciary duties becomes concrete and very clear. This is regardless of whatever shortcomings relating to ZMs offer (i.e. issues of seniority etc.). That offer also, and quite crucially, sets in stone the story leading up.to it.

That alone, in my view, is sufficient to sort this in our favour. But it seems there's a lot more :-)

The case seems sketchy up util then. It's Hope's offer that makes the story what it is. At the worst, in my view, we would be able to go fo an OoCS with Hope. But I think it's different. Hope, FRR argue, has been unlawfully interfering. So there's more evidence out there, I believe (as others do too).

Good luck all genuine holders!

Roysie, had no idea regarding Hanno's deeper connections to NCCL. Further increases confidence for me, that it matters on a number of levels for Hanno :-)

Good luck all genuine holders!

StarRage, I hear. Of course, there'll be a great deal down interpretation, including the judge's view/ direction.

You make a good point about why FRR didn't offer the loan at the appropriate level of seniority. Whatever the reasons there, Hope's offer could've been any number of things. Yet it crystallises in the version we see. That's when the beach of fiduciary duties becomes concrete. And the email is sufficient evidence. It establishes the offer, puts it on the table.

You make a good point StarRage. Most of those emails aren't in themselves strong enough. Even turning down the $5million is potentially not conclusive enough. However, Hope''s actual offer is - regardless at whatever level. The email is a decent facto offer. It's a very intervention at a very stage. I count the email carrying the offered as genuine serious evidence, of both intent and of a serious offer as part of discussions and negotiations

StarRage, appreciating your posts. They show you as an intelligent pretty informed individual.

For me, rhe issue of the breach of fiduciary duties was hard to pin and make a strung enough case about until the very end...when he makes his 'counter offer'. It's a counter offer that's clearly not in the interests of the company and shows his predatory under-handedness. Up until then, the case would've been weak to inconclusive for me (notwithstanding there may likely be evidence we've not seen). 'Weak' in the sense that there were terms that might made the 'fiduciary duties breach' angle tougher the begin, based on evidence contained within the earlier part of the trail.

It's the Hope offer that's clincher in terms of the breach. It's pretty concrete clear to me. But I suspect there's more.

Great stuff tedoby!!!

Edit/correction *So, basically, the case around breach of fiduciary duties wasn't strong enough until we got to that point, where it seems Hope was reeled in...

Terms allowing Hope to be on the board is one thing, including vetoing other options, but it still places fiduciary duties upon Hope. The breach of fiduciary duties was less clear cut in the trail of emails until we arrived at the point of an increasing tight situation for FRR, ZM's loan and Hope's alternative. The breach of fiduciary duties becomes far more concrete at that point.

When going through the recent round of court papers, I was gettingprogressively worried as wasn't seeing anything clear cut and strong until we got to that point in the trail of emails and we're presented with that evidence.

Hope turning down ZM''s substantial material offer to replace it with his own predatory one, the right he was trying secure to potential take control of assets and to selling them, was very clear and deeply problematic. I suspect that ZM's offer was perhaps the bait.

So, basically, the case around breach of fiduciary duties wasn't during enough until we got to that point, where it seems Hope was reeled in. At the minimum, on this, headed towards OoCS.

Now, the additional bit about '...unlawful interference'...if they have evidence of that, then who knows what'll happen...

Cirucm will be kicking off soon and I am sensing that RHA is now very VERY close.

Good luck to all the genuine holders here.