Member Info for flundra

And it was the clowns in Moncloa themselves who said they'd source their remaining uranium needs from the international market. Stupid then, even stupider now...

Any way you slice this, economically, environmentally, or politically, it makes sense to green light the project asap.

https://www.elconfidencial.com/empresas/2022-03-22/cotizacion-berkeley-guerra-ucrania-mina-urario-dobla-capitalizacion_3395861/?msclkid=29cc3bf1aaa111ecab84dea17f36f9fd

Almost two quarters with this new bod, it would indeed be good to have some news.
IMO it's a good sign that CGNR is going so well (McMorrow's involved as a NED there - very exciting gold project).
Now's his chance to really shine though as Mr Big, front and centre in ORM. All he's got to do is the right deal at the right price at the right time...

Buy at these junk levels imo. Particularly with the increased interest in nuclear generally that we're seeing.
Nice SP rise again today.

gawd knows which court you'd go to if appeal was allowed from the spanish administrative appeal court. I'd have long since lost the will to live if it came to that.

EU energy policy change in favour of nuclear may help. But (rhetorical Q) could it unlock BKY's current issue, which is a specific legal one, namely the unlawful CSN2 report relied on by government to refuse permitting?

Another positive of improving sentiment is that it becomes more likely and easier for another funder to step into Oman's shoes or to refinance.

up 32%!

Quite. And that's one of Oman's arguments. That the contract is eg frustrated because CSN2 and permitting aren't happening and the contract can't be fulfilled and should therefore be set aside. That will turn on the wording/intention of BKY and Oman in the contract, and also the law of frustration. Questions like how long should Oman have to wait and what progress does there have to be before the contract can be annulled by them. Ultimately for the Aussie court to decide.

What the CSN and Spanish government do is a completely different legal question, and for the courts in the Spanish jurisdiction to decide.

The Aussie court is dealing with the contractual position between BKY and Oman. That court wouldn't be able to make legally binding judgements on the CSN re CSN2 or the Spanish government re its permitting decisions. The administrative appeal in Spain deals with that.

I guess if Oman wins, the funding gets repaid to them and we're back to square one on funding ie we wouldn't have any. Unlikely though. The administrative appeal against the spanish authorities re CSN2 and permitting would presumably continue whilst we seek a new funder. Funding the legal process itself might be an issue.

Might Oman withdraw its own lawsuit now that the nuclear space is looking so much rosier? It's always looked tactical or speculative at best with little chance of success.

Improving sentiment to the nuclear sector generally perhaps

ERMA emphasise MKA's holistic (mine refine recycle) strategy, ie they like the whole more than the parts, so I agree this perhaps militates against outright sale of Songwe being on the cards.

Might tie in with Bacchus' input, experts in public market takeover and defence.

Er, greater demand ?!
The directors are waiving fees for now, which preserves cash as far as possible.
Maybe check out some commodity price/demand forecasts.

Would tax issues really trigger so much selling? Isn't it robbing Peter to pay Paul? IIs have got to pay CGT if not divi tax if they're in profit? And if not in profit would they really crystallise (and to an extent by selling cause) a loss just to avoid tax on divis? Isn't a taxed divi better?

I've no idea. Just asking the questions btw.

The current risk off environment might delay things. Then again rocketing commodity prices might mean the time is right for a good deal now.

At this stage it's difficult to see how the administrators could NOT take action, given the dodgy conduct and transactions and the missing millions. It's early days in the administration, let's see how it pans out. They'll have a good idea already what Cochran's about, and won't want to leave overt poor conduct and worse unchallenged. It could come back and bite them, particularly if Cochran does reinvent himself and does the same again. FRP won't want a headline like this in a couple of years time: "Cochran jailed. FRP Advisory failed to spot fraud in previous venture".
Massey and Allen are both IPs regulated by the IPA (Insolvency Practitioners Association). That's another port of call for shareholders should they fail in their duties.

The good news is that the Investigations section still refers to the possibility of antecedent/voidable transactions, and investigations of directors' conduct.
Well done and thanks to all shareholders who've engaged with the administrators re HALO/Cochran's conduct in recent years, and provided them with information and voiced their concerns. The administrators should have a lot to ponder by now.
FRP would be well advised to investigate thoroughly. The evidence of wrongdoing is compelling. If FRP don't, then they're going to look pretty stupid at best, and probably professionally negligent, when Cochran reincarnates down the line and screws up his next venture too...