Member Info for JD-Nau

Malcy has no cash in Colle Santo or Rebold. Here is what he said about Colle Santo in his blog in May when they first invested:

"Readers will know what I think about investments in Italy and how much grief and delay that they bring not to mention management time and capital requirements. Whoever thought this was a good idea has a different perception of value add to my own and as for the time scale, its adagio…."

After they increased their stake he then said in June.

"So Reabold has already increased its stake in LNEnergy, something that gives them a higher stake in a gas field in Italy which needs development funding and with first gas two years away, if best estimates are hit then revenue sometime in 2025.

I really don’t get this course of action. With the huge potential on the doorstep at West Newton the company are taking on an unfunded long term asset, in Italy where delays are not rare and something that increases its own risk without obvious reward. "

Then they started paying him...

With a track record of five years of failure to continue with the current board means that things are only going to continue in the same way.

More money written off in wildly speculative projects that will end up being written off as non-core after millions have been thrown at them - Colle Santo being the latest example of this .

Millions more in fees being paid to S&S with no accountability to shareholders.

More excuses as to why we will inevitably end up not drilling West Newton again this year.

And does anyone really think that they will ever pay out the £4 million dividend to shareholders that they have been promising for over a year now?

We have to take this chance to vote them out. They have never delivered. They have consistently lied. They never will deliver. Only when they are gone will actually find out what has gone on with our money over the course of these last few years.

Voting closes on Jan 8th at 10am according to the RNS. We all have to make sure that our votes count.

Malcy is a stooge who says whatever he is told to say by those who are paying him. Everybody knows that.

What I think is really interesting is that Sattar and Cattaneo have prepared a detailed plan for what they would do with the company and its assets and have an answer to all of the questions that are thrown at them - notably the allegation made today that the resignation of Strand Hanson would cause the company to face any problems whatsoever. Well it would, if they didn't already have a new nomad waiting to step in . S&S want us to believe that only Strand Hanson can be the nomad - laughable really.

The professionalism shown by the requisitioners is in stark contrast to the shrill complaints of the current board who run the company who seem to be making ever more lurid allegations as to the doom awaiting us all if they are voted out; but without once addressing the many concerns that shareholders have with their own performance.

it is the last desperate squeals from a pair of chancers who know that they are about to lose access to their own personal cashpoint machine that RBD has been to them for these last 6 years.

The desperation really is palpable. They know they are going to lose...

So as Hide hinted earlier today the requisitioners have already got an alternative Nomad in place and had no intention of using Strand Hanson anyway. It looks like old man Malcy's (paid) concerns over this event are groundless.

if you ask me it is pretty good odds that Strand Hanson knew that they were going to be dumped in the event of a successful requisition and so are trying to help S&S stay in charge and keep the gravy train rolling.

I agree Taverham, it is clear that S&S are worried and are starting to play dirty. That said, Strand Hanson have done an extremely poor job in their role as Nomad when you see the incorrect information that Reabold have consistently put out in their RNS releases.

A new NOMAD will be easy to find. This is an empty threat from a desperate board.

Why did you lie about Kamran and Daybreak Simon?

Why did you lie about Kamran and the Reabold California accounts Simon?

Why will you not reply to any of the questions about Daybreak and Danube Simon?

Why will you not comment on any of the figures that have come from the Reabold annual accounts Simon?

Why will you not answer if you think that Colle Santo is a good investment Simon?

Why do you keep avoiding the questions and defending S&S Simon?

I'm sure that there are more but here are my five to start.

Number One – The lies

They have a track record of lying to shareholders – the return of the £4 million to shareholders, the share buyback program that has only been restarted after the second requisition was called and, of course, the promise that the Colle Santo production permit would happen this year when quite clearly it would not. since they only filed the Environmental Impact Assessment on the 20th December 2023.

Number Two – The terrible investments

They have basically written of £9 million at Daybreak and £5 million at Danube. If the requisitioners are right then it looks like they may well have wasted another £4 million at Colle Santo. Their only successful investment has been Victory and that has only just covered the wages they have taken since they have been in place.

Number Three – the remuneration

The two CEOs have taken remuneration of over £4 million between 2017 and 2022. In this time period the company’s revenue has only been £4.4 million.

Number Four – the obsfucation of the company accounts

They have a habit of investing in private companies that then deal through subsidiaries where it is impossible for shareholders to see what the money is actually spent on. Danube had a Romanian subsidiary; Gaelic was based in the Isle on Man and held the US subsidiary from there; LNEnergy will not doubt have an Italian subsidiary in time. We know nothing about what payments have been made through these companies and of course we now find out that an entire year’s worth of accounts for Reabold California have been “destroyed”. As Paul1Deano says we should really be told what payments Sachin and Stephen have taken from each of these.

Number Five

The failure to progress West Newton. They promised to drill this in 2023 and now it is 2024. What are the odds that this time next year it will be 2025? Whether it is because of an inability to raise funds or because they simply don’t want to drill it, I don’t know. But they have had every chance to get this progressed and they have consistently failed to deliver.

Hilarious link Simon. S&S cannot even get their own shareholding in Colle Santo right on their own website as it is 26.1% as per the RNS that they issued. It is 26.1% as per the RNS of 11th December not 18.4% as per the website. : https://polaris.brighterir.com/public/reabold_resources/news/rns/story/w9n39pr

But Simon, you asked me to give you the figures as you claimed that they were wrong. Then I gave you the figures from the company annual report and you refuse to engage with then and claim that you are on "annual leave".

It's really unconvincing old man. You had plenty of time while on annual leave early to put out your pro S&S propaganda and claim lies that Kamran was the one at fault for the Reabold California accounts.

But you never have any time to engage with actual figures. Strange that. It's almost like you have a pro S&S agenda.

are you too ill-informed to look at the annual reports? These are not my figures, they are Stephen and Sachin'...

But Simon, the figures come out of Reabold's annual reports, I have given you the links. If these figure have no basis in reality then it is because S&S are lying to you.

You're struggling here old man, these aren't my numbers they are the company numbers. Why won't you answer?

Simple Simon, why won't you answer the questions, it is because you can't?

Come on Simon, why won't you answer the questions. Always avoiding. Maybe it should be S&S&S nowadays...

Simon, since you only seem to trust figures that come straight from S&S, I have had a quick look at the company accounts and RNS releases. Let’s see if you trust them…

If you look at Reabold’s RNS from 14th June 2018 then you can see that they acquired Daybreak for a cost of £3,045,000. polaris.brighterir.com/public/reabold_resources/news/rns/story/xlp4pjr

If you then look at page 69 of the Reabold 2020 annual report Reabold-Resources-2020-Annual-Report.pdf (wp-reabold-2023.s3.eu-west-2.amazonaws.com) you can see that they made loan to Reabold California of £6,292,000, total £9.3 million.

Danube we agree is £5 million.

So I apologise, to you, I was wrong before. It was not £15 million wasted on Danube and Daybreak it was “only” £14.3 million.

Are these facts and figures enough for you?

Now I have done your research for you it’s your turn to answer my question: What has happened to the £14.3 million that has been invested in Danbube and Daybreak, which are now labelled by the clowns as "non-core assets"? Also, why were the Reabold California accounts deliberately destroyed?

Is Colle Santo a fab asset Simon?

How is Daybreak at 9.3 million and now worth 42% of $38,000 - the current market cap of Daybreak according to Yahoo finance a fab asset?

https://finance.yahoo.com/quote/DBRM?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAJrBkKmfsn9HcQP94GbJfuiv1kA9WbBO6me7AvG3GFUFOASDUNPPq-WudnGQXy-T3yzW-gatiXs81ugjW2paUf6gVcZ4QHQJj4iRoOCgbEPogWDRSEk_kaDuHDDv_1ET57QdP2UQMBLPFXbDQJMakl5-Wj2waZtiiCKjMEswBNzR

How is £5 million into Danube, now worth nothing a fab asset?

For the second time Simon, the destruction of the accounts took place at Reabold California, which was nothing to do with Kamran Sattar and was all to do with Reabold and S&S.

Why won't you answer any questions put to you on the massive value destruction that S&S has carried out during their time at Reabold?

Simon says: "Kamran needs to be careful as he owns 40% of Daybreak and if he is fiddling the accounts over the pond he will be doing time on his next trip."

Except the accounts that were destroyed related to Reabold California which Kamran had nothing to do with and was a wholly owned subsidiary of Gaelic Resources, which is an Isle of Man based company that is wholly owned by, you've guessed it: Reabold Resources.

It isn't Kamran who has to worry about the disappearing accounts, nor even Daybreak. This is yet another mess that is completely the responsibility of Reabold Resources and it's joint CEOs...

Simon, since you only seem to trust figures that come straight from S&S, I have had a quick look at the company accounts and RNS releases. Let’s see if you trust them…

If you look at Reabold’s RNS from 14th June 2018 then you can see that they acquired Daybreak for a cost of £3,045,000. https://polaris.brighterir.com/public/reabold_resources/news/rns/story/xlp4pjr

If you then look at page 69 of the Reabold 2020 annual report https://wp-reabold-2023.s3.eu-west-2.amazonaws.com/media/2023/01/Reabold-Resources-2020-Annual-Report.pdf you can see that they made loan to Reabold California of £6,292,000, total £9.3 million.

Danube we agree is £5 million.

So I apologise, to you, I was wrong before. It was not £15 million wasted on Danube and Daybreak it was “only” £14.3 million.

Are these facts and figures enough for you?

Now I have done your research for you it’s your turn to answer my question: What has happened to the £14.3 million that has been invested in Danbube and Daybreak, which are now labelled by the clowns as "non-core assets"? Also, why were the Reabold California accounts deliberately destroyed?

Simon, since you only seem to trust figures that come straight from S&S, I have had a quick look at the company accounts and RNS releases. Let’s see if you trust them…

If you look at Reabold’s RNS from 14th June 2018 then you can see that they acquired Daybreak for a cost of £3,045,000. polaris.brighterir.com/public/reabold_resources/news/rns/story/xlp4pjr

If you then look at page 69 of the Reabold 2020 annual report Reabold-Resources-2020-Annual-Report.pdf (wp-reabold-2023.s3.eu-west-2.amazonaws.com) you can see that they made loan to Reabold California of £6,292,000, total £9.3 million.

Danube we agree is £5 million.

So I apologise, to you, I was wrong before. It was not £15 million wasted on Danube and Daybreak it was “only” £14.3 million.

Are these facts and figures enough for you?

Now I have done your research for you it’s your turn to answer my question: What has happened to the £14.3 million that has been invested in Danbube and Daybreak, which are now labelled by the clowns as "non-core assets"? Also, why were the Reabold California accounts deliberately destroyed?

Do you have any idea what the so-called "real" numbers are or are you just obfuscating on belhalf of S&S again, as that seems to be your modus operandi on this board.