RE: Interview BK16 Sep 2022 00:02
to give you an idea AGAIN how useless AB is here is an extract from half year report back in April 5 months ago. and guess what absolutely none of the items have moved forward one millimeter
A new development in the period under review was the beginning of legal proceedings to enforce our rights in one of our copper-cobalt joint ventures in the Congo. A partner wrongly in our view sold our assets for $20m to the parastatal from which they came. As with our litigation in Kenya some years ago, we have so far been successful in our proceedings, but in this case we have achieved rapid results in a series of favourable judgments since year end. Awards of $4.5m plus costs have not yet been enforced by us, and we also have claims to a substantial part of the unpaid consideration of $15m, which has been retained by the purchaser, pending the legal clarification we believe we have now provided. We also believe we have a legitimate interest in the on-sale of those assets at a very large mark-up, the pursuit of which we currently contemplate. However, while the Directors are confident of a positive outcome for the Company, there remains some uncertainty over realisation and the timing. A further development has been the planned IPO in the USA of Elephant Oil Corporation, where we have just under 400,000 shares, including 35,555 subscribed for in pre-listing placements at $2.25 a share. We had hoped to have seen this happen by now and on a float there would be significant value for us. We will update shareholders as and when there is any definite news.
The best piece of Bull**** must be he is positive of the outcome but uncertain of the realisation... that's too funny