Member Info for JimBL

Potted history of KRS (Ferrex) fyi... Original BoD had between them built and sold three companies for approx $1billion. KRS was aiming to supply the steel industry and had / was proving up large iron ore assets and a manganese play. On the verge of signing a JV with Anglo American / Kumba for Mabega, Gabon, iron ore asset when the market collapsed. All io assets have now been effectively written off. Manganese (Togo) remains a distant and ever hopeful licensing outcome - and was being repackaged as a directional change to feed the electric battery (cars) market - along with new acquisitions for cobalt and nickel, also in Togo. No one has any real idea why the Togo license has dragged on for many years, but it's all currently mothballed or on care & maintenance. Prior to the cobalt acquisitions, Ferrex became KRS and ventured into the Ozzie gold mining sector with what turned out to be underwhelming / failed tribute agreements. Had they not then it's uncertain what would have happened to us. However, we also started to acquire tenements in Kalgoorlie which were eventually 'sold' off to what is now CAI. We stand to hold 750 million CAI shares once a PFS is completed and/or the company is sold off. Those shares / value will be distributed to KRS holders if and when that happens. Back to Togo - the asset remains viable if and when a license is ever granted and funding can be found. Stage 2 plane for a Ferro Maganese plant return extremely lucrative numbers.

Ah, come on mate. Could all have been much different if the global IO market / Kumba deal hadn't collapsed! That said, I'm also not too impressed at how things have gone for the KRS holders since. We need a focus on our company not just CAI. One day, Rodney ;-)

LOL, yeah, just ask anyone who has held this dog of a share long term!

Have to wait until their suspension is lifted then!

CHESS is the ASX version of CREST .. We need a a broker who can hold/deal in CHESS ASX shares.

Which broker will you use for the NWF shares? Trying to figure that one out myself.

"This deadline can be extended with the consent of the Panel in accordance with rule 2.6(c) of the Code." That's what the RNS actually says.

157,446,020 million STEL shares / options as far as I can reckon. 95.5 million NWF shares in return if TO happens. That works out as 0.606 of a NWF share for each STEL share - not 0.76 as the initial RNS suggested - or so I calculate.

Misleading. There's more than another 90 million shares for warrant/options holders.

Yeah mate, not really bothered about the rise as it does little for me. A TO, agreements, funds to develop, might bring some return one day. I live in hope.

And if the warrant / option/ rights holders at 2.5p start cashing in...

As opposed to 'good guys' like Octea? Have you any idea of that company's history (Benny Steinmetz) in SL?

You'll have to open another account which does deal in ASX shares. Obviously, it's not a good situation for anyone who has STEL shares in an ISA. I haven't seen any information that suggests NWF intend to retain the AIM listing.

Can't be any worse that's for sure! A lot of obstacles though which are definitely being glossed over (or not understood) by some on here.

TO seems best and only option. However, I don't think it will be as swift and painless as you are suggesting - if it goes ahead. Octea needs to agree to maintain the tribute with new owners and on the same basis. Gov of SL need to do the same. Tongo itself still has no mining licence.

It's still 70% or so above the pre-RNS price, of just last week. The TO was being discussed while the sp was in the 2.5p range for some time. The only people who will lose out if there is a trading halt are those who bought into the spike and therefore can't sell - and if a TO comes to nothing. That scenario seems to be the basis of all of the wailing on here since last week. Sxxx is entirely correct in his subsequent comment.

Ben - There were only two sales actually, and most of the second parcel didn't sell due to low quality. Most of the trial mining sales were from Baoule anyway and the Guinea assets are now sold off for $1.25 million ($750k less than originally agreed).

Then do use the same argument to your posting buddy. I'm getting quite tired at being defamed by him. My comments were directed at him - not the market.

The RNS, lol! Some people really need to take a closer read. "Parties with rights over ordinary shares (including warrants, options and other rights) will be made an appropriate share offer based on the value of such warrants or options taking into account the relevant exercise price of each option or warrant and the Theoretical Ex-rights Price Offer Value per Stellar ordinary share and the Possible Offer Ratio stated above. For illustrative purposes, out of the 95.5 million NWF offer shares proposed to be issued pursuant to the Possible Offer, approximately 47.3 million NWF offer shares would be issued in respect of the Stellar shares currently in issue" 47.3 million to ALL existing shareholders. A further 48.2 mil shares will go only to options, warrant, and other rights holders.

Lall - under the original terms they were never going to be able to exercise the options as the sp was never (ever) going to reach 62.5p let alone 105p. I believe that is an accurate reflection of reality? Of course, if a TO does happen then remaining the options would be vested at that time. And if that goes ahead at the touted 12.7p then they will be worth �667,750. Dropping the trigger price to 3.25p - especially when TO talks were seemingly already well advanced - guaranteed a large pay day to BoD they were nit going to get by any other means. Ethical? Legal? Make your own minds up. I'm quite surprised that after all the accusations and name calling since last week that those individuals aren't in the slightest bothered that their holdings face a further dilution of 8.74% which these options represent.