Member Info for CF73

How many companies on AIM with a market caps of just £45million have the connections and backing we have?

What company on AIM with a market cap of just £45million is on the verge of agreeing a loan more thna it's market cap?

What company on AIM is currently working with BH and BP?

...and there's more!!

In agreement with Badeli. We had been informed that there should be an update by end of year. This RNS was therefore necessary.

Let's provide some context to the timetable,

If I remember correctly, this timetable relates to aligning our Noncdezi Project with wider governmental energy programme plans. Again, if I remember correctly, we were in a position to perhaps bring the project online (i.e. first power) earlier than expected by EDM/ MIREME/ Government. This isn't really about Moz's/ Africa's inertia, 'usual delays' etc. We can't have a project built and ready to go and Moz not having been set up to receive that power because it was not stipulated and/ or agreed to that power arriving a year or so early. I suspect what is happening right now are discussions around how GE-CMEC and NCCL can support the authorities to be ready for the project in time. I recall what was referred to (in early updates) as a support package, from GE-CMEC-(and to a much lesser degree I suspect NCCL, that would help with this.

We have had the recent Letter fo Support/ MOU, setting, I'm guessing, some minimum standards and expectations, and providing signficant comfort to GE and CMEC. Though non-binding, was an important piece in the jigsaw. Though still necessary, I view the timetable element as much less problematic.

To be honest, they set an unncessary expectation here, trying to get it in before end of year, and particularly, telling us about that intention. With the festive period, would have been difficult to achieve. Too many people winding down, on leave, public holidays etc

However, once this timetable is agreed, JDA could follow very, very quickly. Most of the detail within the Binding JDA having already been decided.

At these SP levels, a gift, with news likely at any time in January.

Good luck to all genuine folks!

Phenomenal work over the last two days especially. Has helped to make sense of the ppossibilities here and vertainly reassured me somewhat. Thanks to the regulars and genuine folk here!

While i was looking forward to hearing about the timetable being sorted this side of the New Year, it was always tight. So not hugely surprised to hear about the additional time.

JDA work running in parallel and not massively dependent on the detail of the timetable process other than the timetable being the final go ahead from the Mozambican authorities. So could hear about JDA very soon after timetable news.

Good luck all!

What if the level shorting scrotum-ness is yanked up several notches?! Does it become 'Maximal Scrotii'!

applegarth, hahaha

Scott_chegg, hahaha

Though stand by my interpetation of scrotum in the plural i.e. Scrotii -- whether or not technically correct ;-))

Have to echo PJOHN's comments, some really important work put in by StarRage, Mole, Pyro, TheProdigy, Flying etc

Saving our Glutus Maximus's!!

There's been suggestion that the injunction and the counter-claim (i.e. hearing) represent two disctinct processes (i.e. two separate cases).

In turn, can we confirm if the new arranegment brings together?

There's a term for these 'obnoxious people' -- 'Shorting scrotii'

Great posts Pyro!!!

Excellent stuff Pyro me ol mucker!

Perhaps no clause as it's generally a given that a debt can be paid by another loan (may sometimes involve penalties etc.) But Hope keeps blocking and in turn offering his own deals, none of which have been in the best interests of the company and demonstrably more beneficial for him and OMF

Will be easy to secure that $60million as it will be on the basis that it pays off The OMF debt leaving the new lender being the main senior lender. So then down to Hope agreeing to be paid off or be in breach of fiduciary duties

I believe funding will be secured, if it hasn't been already

Here, our connections will have been key to getting this into place, along with certain facts of the matter i.e. partners, flow rates etc

The company will then it can pay off the OMF / Hope loan, in full. That this would reasonable for all parties in the circumstances.

Hope will be given no other option but to agree otherwise he will show he is preventing the company moving forward.

Going to say again

We defaulted because

a) Hope kept vetoing all the options to pay the $2million, and especially in favour of his own - one that was clearly predatory and not in the best interests of the company

b) they wouldn't have agreed to the 500million shares as it was, as suggested by another poster, tantamount to blackmail and, in my view, serving to increase the influence of a malignant presence at the company

Keeping is desperately debilitating for those who are massively invested and who are pouring everything they have into seeing the company succeed

I don't see some folks see it as reasonable just to have paid the $2million using Hope's hopeless package or hand over 500million shares.

ZM, SN, and others are wanting to grow and advance the company but this would be impossible with Hope involved. Paying this $2million using only the means Hope provides is close to suicide. Add to this, this, imagine working in a team where one of your colleagues was someone like Hope, positioned as they are?!?!

Makes every bit of sense to me why we haven't tried a quick immediate solution. Can't see why others don't see it.

Final comment, we have a significant plan to replace Hope and OMF. When they are in court, when is presented with that option to pay 'em off (a genuine offer), if he refuses, he'll have been found to be in breach of his fiduciary duties, once and for all.

I continue to have absolutely faith in ZM an SN

Then question of their alignment to ordinary PIs is key here

They massive holdings and are affected like we are when the value of the company goes up and down. More significantly, they've poured so much time and ambition into this and not just capital.

Those who have invested in FRR, as opposed attempted to buy in for a quick trade, will understand that prospects take a while to bulldog and mature. And that, in this case, the wellbeing and growth of the company is at the foremost of their minds, as it should be. Thus means working to timescales and priorities thar may not be signed to those who aren't invested for the long term.

In particular, the welling of the company now clearly requires the removal of Hope and OMF. Those 'invested' should understand this. They are a malignant force. Attempting to keep 'em happy with the interest payment or giving shares only keeps this cancer, undermining the long term prospects of the company and general shareholder interests.

This action by FRR has been right and necessary. They have my fullest support.

Last RNS was really important. It should us how Zimbabwean authorities might see a way forward on RHA that would suit all parties

2019, bring it on!

Agreed curo,

Makes you wonder what some of the cretins are like in the real world...wait a minute, I may have just provided the answer to the question I was posing ;-))

Good luck to the genuine folks!

Hope may well file a defence. The problem with filing it is that it then moves the court case on to the next stage when perhaps an Out of Court settlement earlier would've been wiser and, potentially, much less costlier.

As it is, no defence was filed at an earlier date, buying them time, whether they intended to settlement out of court or progress with defending themselves against the charge.

Something said previously, even if they mean to settle out of court, they will use up all the time they would have available to them. In this case, they were even able to get an extension.

With the 'file the defence by date' now the end of the week, we're likely to hear some time next, whichever way this is to be pursued by Hope. In a sense, it's down to them, if they're up for settling early or defend themselves - notwithstanding that terms of an early settlement still have to be agreed by all parties.

One thing thus case certainly does is cast a dark shadow over OMF and Hope. I would expect that AIM companies in future think over very carefully whether or not to sure these predators/ vultures.

Good luck all to all genuine holders!

NewCo board will be voted on by shareholders. At the most, he'll have a non exec role. Otherwise, think he'd be up for some chill after these years.