Member Info for CF73

Not sure why so many posts suggesting all over.

Hope hasn't been able to file a defence by the date. If he had such a strong case, why hadn't he?

This is heading towards an out of court settlement

Good luck all!

The New York lender's loan would immediately resolve a major part of the issue i.e. the default

The New York lender will know this/ be informed and already have on principle terms agreed that the first $20 million can be used to replace old debt. They will also be provided info on flow rates and that BP are involved.

Shouldn't be a problem

Worth saying again that Hope wasn't able to file defence in time. Why?!

The deadline would've been clear and impending.

Clearly not got a string enough case and buying time.

Finally getting a chance to post after being away.

The case, as we can understand by the initial affidavit, was strong enough to for an injunction to be granted with ease.

It seems that Hope is unable to file a ‘sufficient’ defence in the meantime, by the date of the 18th Dec and has had to get an extension.

What does that tell us?!

If Cairns have also been advising Hope, then it is right and proper they resigned and a new NOMAD appointed. My guess is that we will hear about a replacement very soon (no immediate hurry as they have this mess to and month to arrange).

The injunction remains in force, effectively till the next hearing, with no date provided, just that it will be listed in January 2019, perhaps pointing strongly to authorities wanting an out of court resolution before then, and therefore likely resolution out of court in the meantime?!

Suspension from trading not only helps by way of preventing a disorderly market, the resignation of NOMAD would’ve required this.


…and we now hear that we have BP on board…

…good luck all!!

injunction remains in force till the next hearing.

My guess is that this is to move both parties towards an early as possible settlement

Johnost, my average is 0.35 (or just a little under now, after topping up). Have always said that getting back to those levels wont be hard if the right news lands.

Regarding being over-stretched, your wording is useful as it suggests that it is all relative. My holding here matters to me but I have bigger holdings elsewhere

And for the record, holding this stock has been painful.

You think I give a shit what you or Malkstain think or say?!?!

Johnost, I am not part of any group...

...and Thom, neither am I Fuad...(though I bet you were chuffed with what you thought were your sterling detective work LOL)

Certainly NewCo would enable that work (with the IPO raising the capital).

The last raise saw shares go into sticky hands and, as far as I can tell, have not been sold into the market since (very much unlike the days of Darwin).

And that supposed 'high cost loan' was secured against our ARCM shares. General consensus amongst PIs was that we would prefer him to convert to shares, which he did, than have him take control of the ARCM stake. Incidently, that conversion took place at 0.16p (hardly costly) and again means shares going into sticky hands (imagine raising that $300, 000 via Darwin and its death sprial financing)...

I'm feeling positive about upcoming news. Minister of Industry having been under pressure from above - and there's only one person 'above' if you're a Government Minister, from where pressure can meaningfully come.

Good luck all genuine folks!

Stardelta, really sorry to hear about your losses.

You have a right to be agrieved and appreciate that you have been very construictive and restrained. Respect to you

Yes, there may well be folks over there reticent about 'giving up their resources', but they have committed to reform and have now got to back it up with actions. Sense that the market more widely remains heavily cautious about investing in Zimbabwe. So there need to be events and processes that alter percpections.

Bizarrely, if it were up to the Mines and Mining Minister, Chitando, we would have had resolution some time ago. It's a crazy state of affairs that it sits with another department who no longer have a role but for the necessary paperwork.

Keep an eye out for the news Star...you never know....

Mining and Minerals Minster will be keen to move his sector on and make progress. My guess is that he will have helped to get the El Presidente's attention regarding PREM's situation (doesn't take a rocket scientist either to come to that conclusion)

Looking forward to next week -- good luck to all genuine holders!

When I spoke to the company a couple of weeks, briefly dropped mention of the Zimbabwe Mining Investment Conference in London, there was no reaction LOL

My thoughts are that perhaps there were one or two 'interesting' moments at the event. And let's face it, if you were a prospective - let alone a pre-exisitng investor - you would want to know that if you were to invest, that your investment would be safe and that as a shareholder of any company operating in the country, you would be respected.

For the moment, the signs emenating out of Zimbabwe do not point to a productive, safe investment environment. The Mining and Minerals Minister would and should have interrogated. My guess is, he was and was likely presented with examples (PREM perhaps being the stand out challenging exampple).

With mining mean to be one the leading industries in the country, with a desire for external foreign investment, policy and implementation restrictions/ lags do not help (especially in light of the high unemployment and promises made to the people following the end of Mugabe's rule and subsequent reform).

Guessing there would've been feedback to the El Presidente himself.

Good luck all!

*next week, not met week

Thanks to beengenius and moneytolose for their comments on the Dec 18th date.

Relatedly, I wonder, there was that Zimbabwe mining investment conference in London three or four weeks ago. The Mining and Minerals Minister was in attendance, as was PREM.

I wonder if issues were raised by existing/ prospective investors in attendance?

If the Mining and Minerals Minister got some stick, wouldn't have been pleased, especially if it some other Minister and Ministry were the cause of the stress

Anyway, looking ahead to met week. Good luck all genuine folks!

This is a portion of tedoby's post:

------------------------------

The argument as to whether there's a meeting or not is simply a mindless sideshow. What really matters is whether or not the Giverment signs off the new Shareholder Agreement on RHA by next Tuesday which I believe it will.

Of course there is likely to be at least meeting on the 18th December attended by the MOI. One being the weekly Cabinet Meeting were decisions on projects such as RHA are handed Down. Maybe that's where any confusion over meetings has arisen from.

As far as I know there's been two precursor meetings in readiness for next weeks CM. One with the Vice President that took place on Friday 30th Nivember in which he confirmed his approval and then another on the following Monay 3rd December in which the Minister of Industry also reaffirmed his approval but wanted a few to do a final check with the President himself. Which is perhaps why RHA wasn't on the agenda for the CM meetings held on the 4th December and possibly last weeks too.

I believe the MOI now has what clarification he was looking for and is now in a position to deal with the issue. Which in turn is why I also believe the Goverments approval to restructure RHA will be in place on or before December 18th.

Whatever it is that's going on, there is strong consensus now that the 18th Dec is a key date where we are at the least to hear back on the issue.

Appreciate the contribution of certain posters for keeping us updated, NaPoM and tedoby. Folks should take a particular look at tedoby's post from yesterday. Very informative. Explains what gas likely been going on. Looks as if we will be hearing something important very soon.

It matters not who I spoke to. What matters is that we get progess and, crucially, that we get news of progress soon. It seems theer's growing consensus around the date of the 18th of Dec.

I'd be focusing on that and rather than who I spoke to.

Good luck to you and all the genuine folks here.

Thanks for that contribution tedoby, is very much appreciated!

What matters to me, too, is that we seem to have confirmed the date of Dec 18th. When beengenius had said that from comms he'd learned we were dit to hear back from Ministry/Minister of Industry, I was quietly guessing that perhaps that might be on the actual sign-off finally being approved. Certainly, from a shareholder point of view, that would be quicker than a meeting on the 18th Dec. If it was a meeting, there would need to be some ratification, paperwork and RNS written and checked, all before we get to hear.

Thanks for the detail in your post. Your research and feedback is extremely helpful and appreciated!

In response to the issue raised around folks being told differently, what matters is that we can now see that there is a signicant date to work towards.

After all this time, are we on the verge of material advancement on a key issue and a major recovery??!

Good luck all!!