Member Info for JulianM

Hi MD.
Commercial Solicitors are expensive but in return provide advice expeditiously and I cannot believe that advice has not already been given.
On the website AH is still described as the President and an Executive Director and we are entitled to assume that this is correct. I wonder whether the advice given was that notwithstanding whatever happened at the AGM AH can still be appointed as a Director under the provisions of the Articles of Association..This power is given by Article 66 of the original Articles dated 2004 and may still be applicable

Interesting find indeed and thanks JTB .It appears to be up to date which suggests that contrary to what we hoped the last year has not as yet yielded a development plan with a partner,ready to be implemented as soon as the EL is issued.Many assumed that Petro China are likely to be involved but are they out of the picture? I also note that the partner sought will be asked to contribute to and not fund the project which confirms that we are likely to need a fund raise ,although this does not come as a surprise
a surprise

I second that

Since the AGM and it certainly does not take that length of time to obtain urgent advice from lawyers.So they must have received the advice by now and it is time for them to let us know the outcome.If the website is down because of amendments required following whatever decision has been made which is soon to be announced an RNS ought to be lodged soon.

Vast appear to have had to do this to satisfy the bank's requirement to include in particular raising cash for AP's 20% and most recently as an anticipated loan term.One would like to think that the meeting yesterday was something of a tick box exercise by the bank to comply with it's own internal lending requirements . I hope so but inevitably with past history staring us in the face doubts remain.

If there is harmony within the BOD the Articles of Association give the BOD power to appoint a director at any time.Perhaps they could publish the votes and if as we are anticipating the numbers are small relative to total voting rights ,say that they believe that the voting was believed not to be in line with the wishes of shareholders as a whole so that they were dealing with a rogue vote and appoint Adam anyway

Yes,very interesting thoughts CBS

CBS I think this entirely depends on how the vote was conducted.If it went straight to counting shareholders votes rather than a poll first, this would suggest that all was well within the BOD

Yes Glandore. Happened at the notorious" Crede" general meeting which I attended.When the show of hands vote proved to be close and perhaps not in line with the total votes of shareholders it was decided to count the shareholders vote instead,Could this have been done today?

The vote will have been by way of a show of hands of those in virtual attendance and I think the need to take legal advice arises because the result of the poll is not in line with the postal votes and the BOD are wondering what to do about it. However the question remains who voted against the resolution and why?

Not entirely pointless.We do learn about a second sale (supposedly) to be completed this month

dbh.I hope you are correct because this would be a reasonable outcome

Assuming we now have enough to pay off Atlas one wonders exactly how much more the bank is supposed to be providing and what the money is going to used for, given that the main purpose of the facility was supposed to be paying off Atlas and we can now achieve this in any event.

Exactly what I was thinking Pecten. Would not be the first time that promised finance failed to materialise.

So if the deal is actually turned down on the 16th we have cash in hand to pay Atlas.Don,t know the exact figures but perhaps even enough to pay them off.Is the possibility of the facility being turned down the reason why the placement has occurred today? It could have occurred afterwards and might have been more palatable to shareholders,assuming of course the terms agreed with the bank for the financing are very positive for the Company.

I think there is more to it .He was a regular poster on the HZM board and stopped posting there at the same time as here. So has he just given up posting or is there another more unfortunate for him and his family explanation?I hope not

Crude analogy of course but I was reading about the crusades and I thought about the lot of the humble soldiers .Day after day of trudging along until one day finally thrust in to combat.Suddenly intense activity and survival dependent on a combination of skill and luck.We are currently well in to the trudging stage but not sure when the battle will occur but when it does , fortunately it will only be the fate of our finances which will depend upon how we will perform.Will we sell all ,sell some ,buy more,listen to the inevitable rampers and derampers or simply ignore all around us and rely on our own skill. We know this"excitement "awaits us but when.Our leaders know more about the likely plans but we foot soldiers are left in the dark. So we trudge on .

TDT. Unless I have missed it, you do not appear to have commented on the events of last week and in particular the updated mine plan etc.As the last of our three most respected contributors ( RL and Vertigo having for whatever reason ceased posting) I for one would very much appreciate your assessment.

My hope is following shortly after the EL there will be positive news about the extraction of oil from the existing well and subject of course to covid consequences, drilling plans for next year. They have had over a year to plan and hopefully line up contractors,finance arrangements etc.Perhaps there is the odd NDA in place. Are Petro China involved? We will see

One of the purposes of the Presentation and Q and A Session is stated to be to assist with voting at the AGM but looking at the resolutions I cannot see anything there which is sufficiently contentious to justify the Presentation taking place 2 weeks in advance of the AGM .So the other reason given must apply ie to have the Presentation and Q and A session because Q and A cannot take place at the AGM as normal.But why 2 weeks in advance?.If the TEO issue is anticipated before the AGM surely we would not be having the event tomorrow.So,for what it is worth I anticipate that the TEO will not be issued before the AGM and this will be confirmed tomorrow