Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I just used their internal messaging process. They say 48hrs response time. Or call them on +44 345 607 6001.
II have the report now. I received it this morning.
II are now on the case. They have assured me they have now contacted Deloitte. Phoned them today.
Looed, I don’t think anyone is questioning you personally. It’s more the process and the lack of transparency.
Like you just stated, we don’t know the relationship you have with FRR. We don’t know if they have “officially” instructed you to be “shareholder liaison” and we never see the original comms.
Maybe you are privi to more information than we are, which might make you feel more comfortable with the situation, but from where everyone else is sitting - not officially knowing if our shares are valueless, makes us very nervous and therefore stressed! This comes out through the messages on this board.
No one is attacking you from behind a keyboard. The frustration is with the company!!
Ya?
Thats pretty much my thoughts also Ricardo - although you have worded much more eloquently than I ever could.
This isn’t finger pointing contest- it’s a quest to find the truth and whether we still have shares in a company that, at present, shows very little respect for its shareholders.
Looed, it sounds like you are saying (certainly alluding to) that we will have no more communication from FRR for 3 months -post liquidation completion?
That timeframe paints a very different picture than the companies last statement where they stated that they could update shareholders "soon" In my book, 12 weeks isn't soon.
If this is the case, does the company expect shareholders to sit on their hands for the next 3 months not knowing whether we still have shares in this company? Personally I find that wholly unacceptable, if is the case.
They surely must know where our shares are now registered - FRC-C, FRC-US, FRUS or some other acronym they have created? The whole "we can't say anything until all legal matters are resolved" is surely wearing very think now. We are either still shareholders, or not.
What will it take for this company to be upfront and honest with shareholders? Will we have to go and knock on SNs front door and ask him face to face? It's almost getting to that point.
Thanks for all your efforts Looed.
In times of crisis and uncertainty, “family” normally stick together. Let’s hope that’s the case here.
Would be nice to have a happy ending to this long saga.
Is the ZM appeals connected to the FRC liquidation ? I don’t understand the relevance?
Our company in which we hold shares has been terminated. we need a statement from SN to clarify our position asap. No more criptic statements
Https://www.zanagairon.com/wp-content/uploads/2023/11/Zanaga-Investor-Presentation-1-Nov-2023-1.pdf
On slide 8 it shows a table of the worlds biggest resources and figures for Simandou.
How does this translate into $$. ?
I keep saying it - it’s not the individuals (per se) at fault here, it’s the process.
We have no idea what the company is doing to reinstate share value. All we get, via a chosen select few is “we are making progress” and don’t upset us. That’s it. That’s all is has been since Nicandros took over again. That’s the extent of our contact. Nothing else. Does that inspire confidence - not for me. It’s a joke !
Rather then squabbling about what information should be public or not we should, instead, be asking FRR for a position of clarity as to what excatly they plan to do over the coming months to address this 5 yr drought.
We ve had enough of the cloak and dagger nonsense. It’s become a convenient excuse to remain silent and hidden.
Looed, if you want make everyone much less tense, then ask the company politely to start being more transparent and open. We are invested after all.
How about a conf / Skype call with SN and a SH select group - Q&A ?
Minutes can then be fed to all SHs
Would SN agree to this ? I
Maybe all shareholders show show solidarity here and give the message to the company that we want direct comms.
Let them read that if they monitor this board.
Well put Tenners. Wholeheartedly agree with all you say.
Looed - do you have a theory as to what is actually going on here ? I’m at a loss !
We are told the company is working hard to address all these legal issues and get back to “business”. However it doesn’t feel like progress is being made imho ? Failure to comply with deadlines and MOUs does not inspire confidence - with anyone! Why do they continue to fail on their commitments ?
What’s your gut feeling on this never ending saga ?
Maybe we have reached the point where the cards must be revealed ??!
The saga has gone on long enough tbh. Good or bad, it has to end.
It would beggar belief that SN goes to great lengths to save FRR from extinction only to lose it all through his failings to follow through on what he agreed. Is he that untrustworthy and dishonest ?
Either he expected a deal to be finalised and it’s delayed or there is no deal and therefore no money.
Maybe Looed will get a response to clarify things ??
So if we read between the lines - is SN stalling on paying his FRR debt so he can finalise a deal ?
Nicandros et all are taking the p!$$. It’s hard to accept, but that’s the reality. The guy can’t even send out a paragraph giving SHs an update on what’s going on. How can we trust in a chairman who does not communicate?
While this non communicado state continues the talk on here regarding court cases and the continual shifting of dates is actually meaningless because we have no idea of strategy, objectives and timelines.
“A return to operations” is just a statement, not a plan.
As time passes I am becoming more and more pessimistic.
Someone needs to rattle Nicandros cage !! I’ve tried and failed.
Looed - why on earth would GOGC and GGov enter into any production agreement with FRR at the helm ?? They had 20 years to deliver and failed. Their reputation is in tatters.
If they can still retain the rights to the 1% of B12, then I hope, for everyone’s sake, they sell it on. I would be surprised if that wasn’t already agreed - should they ever manage to sort out all the litigation.
We’ve had a million different reasons for the failure of FRR - political landscape, unfavourable government, bad men undermining the board, wars etc etc.
However, the real reason is incompetence. The company has been in Georgia for 2 decades and delivered nothing. Even now, they hide behind their legal battles, choosing not to talk to shareholders (the majority anyway) and dragging things along month after month, year after year. The saga never ends.
They care not a jot about the money we invested.
It does make you wonder how they could get things so spectacularly wrong and yet still exist and continue to deliver nothing of value to anyone.
If the value is there, why hasn’t it been exploited? Why has it not been taken over by a major ? Surely, in these times of need where O&G is in demand, the goal would be exploitation by fastest means possible ?? Where is the pressure from Georgian goverment to make this happen asap? Do they care about FRR? You’d think they would if the reserve figures are to be believed?? Why no pressure then?
Why is FRR fighting YA over a couple of million when the value of what’s underground far outweighs that ?
Delay tactics for $2m when you’ve spent $500m proving up your resource doesn’t seem like logic to me ??!
If the goal is to return to operations and create value then this should be the absolute priority - everything else should be swept aside to make that happen - if that is the goal?
The whole thing baffles, frustrates and angers me in equal measures. I’m probably naive but I just don’t get it.
I don’t see the light at the end of the tunnel.
Yeah - you keep saying it’s your last time.
You are the nominated spokesperson for FRR on this board - maybe that’s why you are mentioned a lot.
Suffice to say, after all that’s gone on, I trust no one. You might be completely genuine and a normal holder of FRR stock like myself, and others, but I don’t know that. You could also have an agenda ??
Don’t get your feathers ruffled cause I don’t jump on the same band wagon. The company will hopefully speak to us sometime. I’ll wait.