Member Info for Fevertreeman

Folk must be living in dreamland....first, there is nothing to take over as not an oz has been mined of anything, nor infrastructure built, no finance secured. Second, any financing arrangements are bound to contain change of control clauses giving the financing parties rights over termination, payments etc...in the event that there is a change of ownership. Thirdly, who'd be stupid enough to launch a bid to enrich the Greek before anything has been settled.

Hahahaha. I would invest if The Greek stepped down and thee was a competent CEO. Notwithstanding the issues of investing in an emerging market, the only real progress here has been made by RAB Capital who stepped in to rescue The Greek at 0.6p per share and have tripled their money. I think H is highly likely to go back with the begging bowl to s/holders (a) if as I think is v. likely that no firm financing is in place Q1 and (b) if financing is put in place it may well be that the providers demand that s/holders stump up too......either way I see yet more dilution on its way...And remember the mine is still yet to be built.

to see what progress has been made since abandoning the Greek after too many false promises.....amused to see that the story hasnt moved on....still searching for financial close, still pumping the lightest souffle of meaningful waffle. The man is incorrigible.....I recall that Oct was the drop dead date for signing...then then usual panoply of excuses. let's face it, for a mining financier he has failed to cdeliver the goods; as a mining operator he has no experience or expertise. Isnt it time he just sold the venture to someone who could actually progress it...ah but wait, he has this marvellous lifestyle paid for by shareholders .....

If they cant manage to refinance in this environment with their cash flow etc, then the game really is up......it's the reason why they have brought on proper banking advisers and a City law firm. A debt for equity swap would be ruinous for us and probably not that helpful to the bondholders

These guys are paid to manage oversight of the company and to ensure that shareholders interests and those of the board are aligned. No evidence her of that at all. Just the usual risk-free sinecures with none of them risking much if any of their 'soft-earned directors fees. And people are bullish?

So boys and girls, the BoD's alignment with shareholders is pretty stark. Despite being paid significant wonga for their disastrous stewardship, even when supposedly things are brighter none have put hands in pockets since Sept. Each NED is appointed for 3 years by the way. So here it is to the nearest thousand for last year plus annual directors fees (2019):

Beverly Smith:£9k (334,000 shares) only purchase in Sept 20...will be on £60k director's fee for 3 years as of 2020 YE
Anthony Maris CEO: £5k (169,000 shares) only purchase in Sept 20
Sandy Shaw: £6k (209,000) topped-up Sept. Directors fee £67k p.a +10k p.a. chairing Remuneration Committee
Steven McTiernan Chairman : £17k (625,000) ................Chairman's fee £150k p.a. +£10 k p.a. as chair of Noms committee
John Van Der Welle: £9k (354,000).......£60k p.a. fee +£10k as chair of Audit & Risk committee
David Jenkins: £11k (398,000), £4k top-up in Sept...He takes: £60k p.a. fee +10k p.a. +£10k p.a as SID

like me a weary voice of reason.....depressing that others don't see what we season rune-watchers see

Just to be clear

Double pun intended.....so axes to grind aplenty like many holders. Biggest signpost that the board has confidence will be directors buying which now this is out menas they must be out of close period and free to purchase shares in the market. Watch this space, but I am not holding my breath

Reiteration of what he said in RNS disaster 2

I do wish people would get their terminology correct....I think most of you mean traders -quick 5/10% merchants.

Actual current short interest in Hurricane is: 3.3%
Astaris Capital Management LLP having slightly reduced their short in Nov to 1.19%
Kite Lake Capital Management (UK) LLP increased theirs slightly in May to 0.92%
Polygon GLobal Partners marginally decreased its position in Sept 1.19%

Apart from confirming what we all knew that the POO was going to make the latest revenue figures look good, there is no new information, so why all the excitement. Maris clearly felt under pressure to put something out to appease the troops..... Substantial corporate news absent -
1. No update on CB discussions
2. No update on forward plans
3. Water cut still a concern
Ifand when the Board start buying stock in the market and aligning themselves with shareholders I may follow. So if in the next few days we see proper director purchase that will be a positive sign. If not, then this RNS makes no fundamental difference to the investment case beyond telling us they get more money when POO rises!

When the Board put out disaster RNS One, who was advising them? Seems extraordinary that after that car crash they would repeat the exercise but they did with disaster RNS Two.... the sheer ineptitude of this Board of Directors either asleep at the wheel while Trice spun his fantasies, or now after, is a sight to behold - believe me I've had to deal with some inept boards in the past but this lot is right up there.....

My own view is that with POO heading north, and given they have decent wedge of unrestricted cash they should be able to come to a sensible deal with the bond holders w/o wiping out the equity holders (this is not Sirius). I think that the main impediment to the sp is the lack of faith in the management

Was something of a rhetorical question! I detect no firm hand on the tiller frankly. Whether Maris has the stomach for this remains to be seen - he has the get out of jail card of following on from Dr T, so nothing to lose

That was the question now with missing verb*

Chairman? CEO? CA? Bond holders? Newly appointed advisers? Non-execs?

Am gob-smacked by the oard's strategy which seems to consist of (1) Destroy shareholder confidence and the share price (2) Wave the white flag over the assets (3) Fail to support the business in any meaningful way

1. Kitchen-sink RNS One was astonishing: not just crushing the Reserves report but more fundamentally questioning the whole commercial rationale and corporate strategy which the Board had signed up to & were responsible for as stewards of the group
2. Kitchen-sink RNS 2 : having successfully dissed the corporate strategy, the BOD then did a really marvellous job of questioning the very financial viability of the Group seemingly in an attempt to cover their arses by adding a massive health warning .... "Look its not our fault if this goes to the wall." seemed to be their stance. Staggering given they are supposed to be acting on behalf of shareholders in any negotiation with bondholders....
3. No directors buying at all since September despite POO bounce and positive noises from new CEO

Hilarious! And I wasnt a hedgie; I ran a long only mid cap fund.

Were paltry. So far Maris has bought a pathetic £5000...........clearly he doesnt think the risk reward at this level is worth backing any more than the rest of the benighted BoD

As both an ex-fund manager and s/o who sat on board of a large listed group, the deafening lack of support from the board in terms of share price purchases speaks volumes. None of them have put their hands in their pockets in any meaningful way since the second disastrous RNS. You can speculate all you like about Kerogen, CB, POO, etc but if the guys in the boardroom aren't backing it with their own monies, then I for one am sitting on the sidelines.