Member Info for CF73

brgmg69, I haven't joined but this is great work. Best wishes to you and us all!

Just finished reading the court papers.

Think we need to seperate out the issue of PIs/Shareholders not having access to information from the details that tell us about the relationship between Hope/ OMF and FRR.

It's clear to me that Hope isn't living up to his fiduciary duties - in fact, making clear his predatory intentions in regards to assets/the company; tturning down the $5million loan facility offered by ZM, then offering the take control of assets and sell them.

GIven the dire situiation of the company, this evidence should slot in quite well to show that Hope was demonstrably in breach of his fiduciary duties. He was just not helping out.

However, there is more, the 24th Dec RNS,

'In the Statement of Claim, the Company states that defendant Mr Hope is in breach of his fiduciary duties as a director of FRC and these breaches include, inter alia, attempting to deprive the Company of assets for his own benefit and/or for the benefit of OMF, failing to act in the best interests of the Company and its shareholders, failing to exercise independent judgement, and unlawful interference with the business of the Company.'

Now, the last bit:

'...and unlawful interference with the business of the Company.'

While in the emails I see a clear breach of fiduciary duties, I don't see anything of the sort that would be classed as 'unlawful interference'. So they must have something else. But what?!

Does this relate to YA and YA were let off easy? [Including possibly the shorters?]?

Comms via Mole, YJ and Malcy tell me that we are from dead and that there will be reasonably positive outcome -- we will just have to wait.

Good luck all genuine holders and folks!

Thanks ted, much appreciated as always!

Thanks for that Knicol. Great research.

Really interesting then what conversations are taking place between PREM abd the Zim authorities. At the very least, even if RHA injection is being discussed, there also seems contimued openness to the issue of ownership post-indigenisation laws. I know that from previous conversations with the PREM, it was just the cash injection they were talking about, it was also wonership and the loan account. So a lot on the table and deeply complex.

Great stuff!!!

News on PREM progress now imminent.

Good luck all genuine holders!

It really does look like its finally coming together,

Good luck to all the genuine folks!

Since we don't what's going, it is eaey to fear the worst. The first 'deadline' in regards to the NOMAD and listing could not be met. I think many felt this would be the case. From own perspective, it made it easier to fight the case as we no longer were hamstrung by that timeline. This could go on for weeks or even months. The length of time taken does not necessarily mean other than it is taking a long time to arrive at an agreement/conclusion. If we had another deadline placed on us, I could imagine that it would introduce that time-related pressure again.

On the matter of funding and whether we have managed to secure it and it is ready to go if we need it, I'm not sure if it's possible to let us know until absolutely necessary as it is, in a sense, tied to proceedings. Certainly, in my view, I can imagne they're not going to want to say anything about anything until it is appropriate/ necessary.

I think a few careful interventions by YJ, Malcy etc. however, would help massively to alleviate fears - unless they they did a shareholder meeting.

Let's see.

Good idea. Worth reposting that list either daily or every other day, so folks are to date on who to filter.

Remain confident that ZM and team are aligned with us.

It's not possible for them to be coming pm here every other day to calm us down. Recent contact and comms - whether through YJ, Malcy or Mole - is enough for me for now.

I'm confident the outcome will see those holding long come out OK, if not very well (remember, they've said already, they intend to relist and that consolidation is possible)

In the meantime, let em get on with it.

...sense we have a couple of pieces of news on the horizon...

...good luck al!!

...where's a mate Nathan when you need him?

...good luck all!

C&M in a place like Zimbabwe is minimal. Other costs such as wages have been cut to the bare bones.

Sense there's an update or two on the horizon.

RNS suggests that JDA is literally ready to go. Just timetable and that's not far off at all.

"The Company will make a further update on the Liaison Committee process as soon as possible during February 2019."

This further surely got to be the timetable sign off by committee, remembering that the new EDM guy's been in post not long and only just returned from a break. We're very close, with JDA likely to be ready to go on the back of timetable approval

Good luck all!

They've cut costs to the bone and so the money that was meant to last them till December is able to keep us going for longer.

Worth adding that GR's loans are not rip-off. His last loan was initally secured against teh ARCM stake. When it came to recovering the debt, he instead converted to shares (at 0.16p). This was the best possible outcome.

I would be very happy for another loan from GR, if it came long. But there are a numebr of options. From contact with the company, they are confident about being able to arrange [bridging] funds until more substantial capital can be secured.

Work on timetable must surely be done, just sign off and announcement to us (sign-off possibly already happened – but as we all know (should know), RNS needs writing and then checking over, with partners, Moz authorities and NOMAD etc.).

Also, that contents, terms, conditions, numbers etc comprising the JDA should’ve been pinned down long ago. Agreeing the timetable should really be the final precondition in that it means that the Project/Project Partner timetable has been aligned with and agreed upon by Moz authorities.

This theoretically means that there is nothing holding back the Binding JDA. In effect, this could be released immediately after, simultaneously or even instead of. Personally, could never understand the idea that CNY could potentially stall that work to March 2019. JDA is waiting. Everyone is waiting. With those letters and MOU’s of comfort now in, and potentially timetable sorted, can only see the respective parties wanting this sorted and moving to the next phase (remembering that timetable discussion, at least as I recall, was because we were proposing to bring the project online a year ahead of what the Moz authorities were initially proposing – though knowledgeable folks may offer a different view – no problem at all).

There are some knowledgeable posters out there (especially on Twitter), who have recent contact with the company and have continually fed back to us. Respect to you lot! Much appreciation from me!

Good luck all!

There are various options, it's about which ones are the most likely, or timely/ expedient from here?

Can ownership of RHA be resolved, or funding for RHA happen in time? Or will Circum IPO?

Remain encouraged by government offer of cash injection. Numbers have been discussed between parties (though I'm not privvy to what those are) and an update has got to be due soon.

In the background, Circum is moving. Expectations are rising!

Good luck all genuine holders!

Wouldn't a surprised me PJohn.

They've tried all the tricks in the book and are now resorting to claiming Malcy '...once had tea and biscuits on plane.'

...what a minute - that could be the makings of a film!

Share buy backs are usually not very productive or beneficial for the futrue of a company, particularly when there is a need for very large amounts of capital investmet -- which applies to B12.

I can only see a share buy back if BP bought us out (i.e B12) to the tune of multiple billions. Otherwise, a share consolidation is sensible enough.

Keep them posts coming though MadP!