Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Let’s get this right though.
They did go to court to liquidate assets and appoint a “debt manager and continue operations” aka what the Rns actually says, but granted, is confusing. Can’t understand why they didn’t put this out last week!
I think so too. Makes zero sense based on everything they have agreed upon over the last year. Means every RNS was balls and made up, also means they went to court for the wrong reasons. Clearly you wouldn’t go to court (take someone who can’t pay debts there) and come out and say “oh well let’s throw in the towel as the court said no now even though they agreed in our favour last year” makes zero sense at all
Reading all the updates it does appear a liquidation of assets ( as was the plan) and able to continue operations. If it comes out of suspension (after accounts) then it clearly isn’t a bust. I’d say it’s gone to plan but worded dreadfully
Still think this is good news aka gone to plan
Haven’t they just done this.......
The Company successfully argued that the interests of all stakeholders (debt holders and shareholders) are best served by the JPL when appointed to facilitate the re-structuring of its assets and on-going business. During this period, the Company will also benefit from a stay of proceedings and give adequate time to restructure its assets and liabilities.
In view of the significant asset base and investments of over US$1billon in the development of its assets, the Company is seeking to re-structure its assets and liabilities in accordance with its previously announced business plan and believes that the JPLs will facilitate such execution to the benefit of all stakeholders
Doesn’t make any sense. So the court case was to agree winding down of Green Dragon and selling assets with the CEO stating it was to the benefit of shareholders, now end up liquidating the whole company and shareholders get whatever is left. That can’t be right. Surely a poorly worded rns
Absolutely
bid situation I think mate. TO code disclosures hitting , mcap 18m. no debt, cash 11.6m, proven reserves 9.1m barrels. Producing 4,070 bpd. SP 52 week high 102.50. Current SP 22p. 80% taken on shareholder reg. offer will be multiples of SP. what’s not to like?
At last this board has come alive. Months and months of waiting lol. GL everyone. Couldn’t buy anything into close. Gap up Monday we hope. At last
Thank god for my stop loss that’s all I can say.
This is going one way. Extremely disappointing after all that potential, miss one deadline and peeps just run off
Wow this really is in the toilet.