Member Info for JimBL

Cancellation 41. An AIM company which wishes the Exchange to cancel admission of its AIM securities must notify such intended cancellation and must separately inform the Exchange of its preferred cancellation date at least twenty business days prior to such date and save where the Exchange otherwise agrees, the cancellation shall be conditional upon the consent of not less than 75% of votes cast by its shareholders given in a general meeting. The Exchange will cancel the admission of AIM securities where these have been suspended from trading for six months. 15 Cancellations are effected by a dealing notice. As far as I am concerned, the end of year financials sneaked in the delisting issue. We aren't a shell company nor an investment shell. We still have a Nomad. As far as I can make out - the financials gave notice that we would delist.

By the way - the Aug RNS never stated anywhere that we would be delisted. The suspension was temporary while the RTO was pursued, agreed, or not. HOWEVER - STEL's own end of year financials stated we would be delisted if the deal doesn't go through. They can't make that decision without shareholder agreement!

A possibility that we delist and remain private while they continue to try and finalise the funding? Been reading around and it's happened before elsewhere - though of course only possible if the funds can actually be raised in the short term. Mind, that Would also give them wriggle room off market and without fees or regulation to strike a dastardly deal too. Clutching at straws, I know.

L1on - there was an update on Kono in the last financials. They have written it off! " The Directors therefore believe that the reinstatement of the Kono licence is unlikely in the foreseeable future and have taken the decision to impair the value of the intangible assets relating to that licence which at the time of the impairment had a carrying value of $4,300,528 in the Consolidated Statement of Financial Position and a carrying value of $1,302,561 in the Company Statement of Financial Position."

Hrumph! Long ago written off my money in here but if they go down that route then I hope as many pi's as possible launch an onslaught upon them. Maybe a quick way to a listing for Citi though, especially as they also have a nearby asset (Koidu) adjoining Octea's as well as being in bed with us through the JV's - conveniently agreed while we were suspended.

Tomorrow is indeed. Either a 5pm RNS or 7.30 am on Monday I'd assume (?) Not expecting good news. Frankly, I haven't a clue what happens if we delist.

Did some checking as to what was going on last week in Cape Town. 121 mining investment conference followed by Mining Indaba. Would suggest to me that STEL was still looking for finance/investors, with only a week or so left before the deadline for delisting arrives. That doesn't fill me with any degree of optimism.

Roulette? Well in that case we have all been backing black and nothing but red has come up year after year! This is far more like the scam 'find the shell' game - you pay your money but there's never anything under the cup the dealer turns.

cotto - your prediction was wrong. Your optimism looks equally misguided.

No diamonds mined - the assets were JV'd off, remember.

In KS last interview (Aug/Sep) he stated the deal had been under discussion for some time and was well advanced at the point the announcement was made. He stated another 2 to 3 months would see the completion of the AIM RTO legalities. Clearly that doesn't seem to have happened, so there is either a problem with the agreement itself and/or the funding still hasn't been secured. Does anyone now really expect news to the contrary in the next 5 days (17th is the deadline for the 6 month suspension leading to delisting)! Finally, one really has to ask why Octea/Benny Steinmetz wants to do this deal when Tonguma is a far larger asset (3.45 million carats as opposed to Togo's 1.45 million) and Stel would literally be given a free carry (priority recovery of purchase funds, processing plant etc). I truly hope for us all and our bank balances we are wrong - but nothing at all suggests otherwise at this point.

Relisted if the deal doesn't go through? May as well use our shares to line the budgie cage then as the only 'asset' they have is Togo and once again that requires massive funds to make it operational (if it even gets a license). We'll be diluted out to nothing I would expect - it all sounds very Andalas (ADL) from where we are sitting now.

Tongo itself requires $25 million and we dont have the licence yet!

We,,l we have the issue of the JV's with Citigate too. How would that be sorted out? Very strange to me how those could be agreed and signed while the shares were in suspension. As for being sold for a quid - the Final accounts stated that they view the company as a 'going concern' with total assets of $13 million. I haven't a clue how this will all work out even if I do expect it to be bad for us PI's. The one saving grace I have is that AIM can delay the suspension further if (and a big if) the agreement / financing is actually close to being agreed.

Looks like everyone is getting the cold shoulder. As the shares are suspended I fail to see how any information (particularly to long suffering loss holding PI's) could be deemed 'sensitive' - the suspension will only be lifted on the news of the agreement going ahead. Can't buy or sell until that time which is the same as the rest of the market. Being ignored on purpose therefore and that just about sums this lot up.

What have you enjoyed, Elad? I've been here over 5 years and haven't experienced a single piece of news which was accurate nor ultimately created value. Sitting on a 96.4% loss, about to lose it all finally and I find none of this enjoyable!

If RTO doesn't take place then i agree with you. Stinks actually.

That's about the size of it. Loss making company, small mcap, no income streams and JV'd off assets. Obviously we live in hope (as we have for years) but I just don't see who is going to provide the funding required to a BOD who have done nothing for over a decade (other than be paid, lose our money and what should have been a good asset - Kono). Silence is not helping either nor is it understandable considering the shares are suspended.

Well, I think the circumstances are pretty clear. If the RTO doesn't take place then the likelihood of us being able to raise $24 million + for Tongo alone would be highly unlikely given our $2.2 million mcap and the BOD's shockingly bad track record.

Dropped KS an email. Zero response.