Out of Luck I am well aware that arc receive 67% of the payments as are all of the longs. Interesting point reference to the Nomad taking shares and being in a closed period. Will ask that question and how its possible.
I know they arted drilling before November so when was the exact date the JV started?
Anglo American has the right to retain an Ownership Interest of 51%, by:
o funding exploration expenditures equal to USD 24,000,000 on or before the date that is 180 days after the third anniversary of the Effective Date ("Phase I End Date"); and
o making cash payments to Arc Minerals totalling up to USD 14,500,000, as follows:
§ USD 3,500,000 upon signing of the Joint Venture Documents ("Effective Date");
§ USD 1,000,000 on the first anniversary of the Effective Date;
§ USD 1,000,000 on the second anniversary of the Effective Date;
§ USD 1,000,000 on the third anniversary of the Effective Date; and
§ USD 8,000,000 by the Phase I End Date.
HarChris Nick said the only reason he would place would be for an acquisition to be honest I would not mind if he did that as lots would rally behind the stock. They could take out the Swiss fund at the same time. The Nomad taking shares instead of cash tells me they think there will be upside here. This could be very similar to GGP before the rise as drilling results come in. Obvious risks are they don't hit the grades.
In repsonse to the second letter an email was sent to the unoffical email account which was going to be the contact going forward, he basically said he won't respond the that account and to refer to the rns' and there is nothing new to say at the moment.
Ian I got a reply from Tim
I am sure many have, but I just wanted to make sure members of the Telegram group have seen the latest Allenby research on Baron, that from my perspective addresses some of the questions people have. It may be accessed here: https://www.allenbycapital.com/our-research/
Cloudwathcer they can start by telling us why they refuse to promote and get the price up, why they went around all the brokers over the last few weeks to raise cash at such a huge discounted price without a care in the world for diluting share holders into oblivion. Why Allenby clients were allowed to forward sell their shares on the spike. I know a few have taken the placing and are thinking thanks very much but once the rest have flipped the price will stay down until the next raise which by my estimates is around June, if they don't get funding sorted. In the mean time the bod are drawing huge wages 230k per year just for Andy Yeo and don't forget the free options not of which he has paid for. At this rate we will have as many shares in issue as Copl and look what happened there.
I sent you an email last Friday on behalf of a large collective of Baron Oil’s shareholders who form part of an even larger telegram group of 453 members. A considerable amount of thought went into preparing that email, and it involved input from many shareholders. We felt the requests were proportionate and balanced given the current stage of Baron Oil’s corporate trajectory. We hope you understand that as long-term shareholders, we would expect a response from the Board and, likewise, I would expect the Board would welcome the opportunity to engage with its equity holders. Please refer to your own policies on https://wp-baronoilplc-2020.s3.eu-west-2.amazonaws.com/media/2023/08/QCA-Corporate-Governance-Statement-10-August-2023.pdf
Principle 2 - Seek to understand and meet shareholder needs and expectations The Company remains committed to listening and communicating openly with its shareholders. This communication is achieved through company presentations, timely and considered news flow, meetings and correspondence, investor roadshows, attending and speaking at investor conferences, and supported by our regulatory reporting calendar.
We remain very keen for the dialogue to be constructive and would equally be receptive to any input from the CEO, Andy Yeo, or other directors on a way to move forward. We believe the Board has a duty to respond to our requests given we are a significant minority of shareholders with commensurate rights under The Companies Act 2006.
Whilst we appreciate being able to contact you to pass on our concerns through your contractual PR Services, we feel direct contact with a bod member would be more productive and less time consuming. Therefore, we propose (and expect) that you will pass this correspondence onto a member of the Board who will liaise with us going forward. We would like a response by next Monday at the latest please.
Baron Oil shareholders group.
Just a reminder that members of the bod do hold shares here. https://www.lse.co.uk/DirectorsDeals.html?shareprice=ARCM&share=Arc-Minerals
Https://geoexpro.com/the-future-looks-bright-for-the-worlds-fourth-youngest-country/ 90% of Chuditch revs go to TL
Major Tom the reason I asked the question was because I knew the Pension fund were selling and I wondered if they could block buy any to take them out. If you dm me on telegram I will happily show you the response it is not price sensitive in any way. I just didn't know what circumstances were classed as a closed period so intstead of being unsure I asked. And for the record I am not a liar and nor are the bod.