Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
As Rodney states below, Ryder Scott valuation has BFSU at close to $500m and that is without the new massive oil find. Plus add on the valuation for Carbon capture following Exxon acquisition of the Denbury land and pipeline.
Now TR you have put it on record that Ryder Scott must have lied (why would they it is not in their benefit to do so?) and the valuation is less than $130m
You have issued the RNS of:
Not buying and injecting gas after taking money for bonds from Anavio to do so.
Special deal of bonds for directors tying directors to the bondholders as part of remuneration.
Massively undervaluing the company and the subsequent crash to thr SP and unnecessary bond deal giving Anavio shareholder control of the company for £2m
All evidence sent to FCA for their investigation and that’s just a small section of the info they have.
Then add in the
Exactly what I would like to see Alfresco. Then the SP rockets and the existing holders can recover and new buyers arrive to a stabilised company.
Although, part of me wants to see Anavio handed their azs and losing everything they hold to the administrator followed by every one of them involved being arrested as the legal challenges mount.
Richardson will end in jail regardless. Being inside the company when these highly suspect transactions have occurred plus his documented history elsewhere - there’s no future for him where he isn’t a play thing for the B wing collective.
Angus. It’s pretty binary now.
Either a deal is done and the RNS announcing Anavio have accepted a deal and gone with all their warrants and bonds cancelled.
Or Summit cannot strike the deal and put it into Chapter 11 and Anavio lose the lot (along with PIs).
My gut is that a deal will done but we know what Anavio are like and it will be like Russian roulette
Thursday Angus.
When I stated this to you WOS you said I was ridiculous.
Do you think the magic RNS will arrive before 2.8p sale goes through?
Https://guardian.ng/business-services/massive-resignation-hits-lekoil-cayman-board/
https://www.energyvoice.com/oilandgas/africa/ep-africa/347042/metallon-sold-stake-lekoil/
https://en.wikipedia.org/wiki/Aisha_Muhammed-Oyebode
Sources have informed that an approach to Mrs Oyebode has been made as part of on-going enquiries into Mr Richardson's past business activities. In addition to being Chairwoman of Lekoil Nigeria, Mrs Oyebode is a prominent businesswoman in Nigeria and wider Africa more generally. Her father was the ex Head of State of Nigeria and the attached comments made by Mrs Oyebode on 15 June 2021 and 1 Sept 2021 about Lekoil Cayman are clear and damning. Mr Richardson was appointed a director of Lekoil Cayman on 8 January 2021. It will be interesting to assess a first hand account from Mrs Oyebode in due course.
Ridiculous comment.
They thought they could take the company for £2m and then get the JV back to the table or sell it on to the interested JV.
Fish, you need to try harder.
Everyday more information comes forward through investigation. Everyday things that we supposed previously are proven to be true.
Looks like Fish isn’t happy with this discussion?
Well the bonds and interest payments could have been paid off in January 24 in full if Copl had the money to do so. No more apple pie for Anavio.
Shock horror, days before it the JV which could have generated the cash to pay the bonds off in full, is cancelled, and the company not able to pay the bonds off
Instead they went to Anavio for £2m to take over the whole company.
I wonder why Summit were so annoyed?
Summit gain more from a successful JV. Either way they get their loan paid.
Anavio do not gain from the JV
Guess what. When you are directors of a company then you make the decisions. Who were the directors? Richardson, Cowan and Gupta.
They made the decision. Who influenced them do you think?
Would Summit gain from the JV - yes as they get 8% once loan paid off. An 8% of a strong profitable JV’d company.
Anavio preferred it to be off I feel - it meant they could lend £2m in return to collapsing the SP and having 99% of the company if they converted. They didn’t expect Summit to be so furious and here we are.
I would say it’s more likely that board of directors Richardson, Cowan and Gupta who made the decisions of yes or no for Copl would be the ones who said no.
Now is TR linked to Anavio on the chart or Summit?
Correct unless Anavio do a deal to leave.
I meant exactly what I wrote newbie 15 posts man.
Anavio either have to do a deal with Summit and that will be Anavio leaving with something. Or they fail to do a deal and come the 29th Summit will destroy them completely.
Yes Goozee still holds we believe
Big week this week Tommy. Your friends at Anavio have quite a stark choice. Do a deal with Summit and leave or lose the lot in Summits big ‘bring and buy sale’.
We suggest you do a deal that involves you leave now. No more conversions, no more confetti and no more future warrants. If you do, the fire to bring you into a court of law might just dampen down a little.
Engineers 👍
I see you’re ex forces? Which regiment did you serve in? My family are all military and friends too. When did you serve? I’m sure on the lads will know you.
That’s where it starts. A NED is there to advise a board on their specialist area. The BoD then makes the final decision.
So what is Richardson speciality that he is advising the board on? It certainly isn’t Energy as he’s openly admitted he knows nothing about that.
He is a specialist in death spiral bond financing. All seems rosy at first and then…….