George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Thanks for your view Ryan, I stand by my statement based on my moral outlook on life.
I would accept less money back to see justice prevail (if wrong doing has taken place) and don’t see any issue with that at all.
No one takes it with them and I don’t have huge amounts but money has never been, and will never be, my biggest goal.
However thanks for taking time out for your second post I feel honoured.
RBM, you guys are involved and have more detail than me so currently trust any decision you / mr cotter feel is appropriate as when you have leas information (me) it impossible to suggest a direction.
My personal view is this BP involvement later is just another direction others after coming at it compared to the route of class action given the different requirements both parties have. However if a company like BP feel there is reason to object then it only helps support the class action process at some stage in some of “our” arguments.
I do want my my back but would accept a lot less back if I knew the whole truth and if there was wrong doing I would trade the money to see some action on individuals or organisations.
Keep up the great work and hopefully one day some of us in the fringes can help support more
Mammac, it’s not an AIM share, and with the amount some have lost the choice to crystallise that now or proceed with an opportunity to get some back for probably 1% of what they lost is a no brainer.
Accept the lose by all means, but to do nothing seems a strange decision. Go to the planned teams calls and ask the right questions there before deciding is my suggestion
Tonlin, I understand I guess the question is if you don’t you 100% crystallise the loses or pay a small amount to have a change.
My advice as mentioned by others is sign into the zoom calls, listen, and then make a decision as I assume 1 question everyone will ask is “what are the chances of a successful outcome” and “how much is it costing you/your company to support us until the decision” as they will help people decide.
For me personally the money is ok as I just want all the information out in the open regardless of result.
AndyOZ, 100% it provides a potential future funding stream that was not there yesterday so regardless of the noise it’s positive for the company overall and I am sure can help with leverage as well going forward.
What does it matter if the CAG offer an opinion today, tomorrow or 2 weeks time? If we are embarking on a class action process it’s years so an immediate response is not always beneficial and from this point anything written shouldn’t have some legal scrutiny or oversight if it could be contentious
Stop panicking about impunity from future action.
I would assume it’s putting in place impunity that the process itself can’t be reversed as once SL have it they are free to do what they want with it and if the process is completed the impunity will be that the act of SL buying/taking it is final and not reversible.
The process would not be able to dictate that everyone involved gets a free pass from activities in the past, but it probably dictates that SL can’t suffer from any future outcomes.
Thanks RBM, the process the company is being pushed through is well trodden and with exception of some COPL specific words it follows a process that is legally ok and will pass through.
As the CAG are doing all that can be done is you formally oppose where possible, and interject where you can but the purpose of that is support the long process of class action that follows not with any real hope of altering the course.
RBM, thanks and assumed that would the case and makes 100% sense.
Life would be so much easier for everyone had COPL performed (people can insert their own word instead of performed) and I assume more than enough for everyone to have done well.
RBM, is the plan to see how this current auction process plays out before taking the final decision on the exact nature of the case and who it targets?
For instance if a reasonable conclusion was reached in terms of a sale or restructuring would that alter the approach, or is the approach locked in now?
I don’t actually disagree my assumption is the sale will go through to the stalking horse bid or by another party slightly above that bid. Then due to the sale process started I am assuming it gets signed off and not sure there is much possible for halting that legally but not long to wait anyway and if it’s the low offer and it can be halted then I would be fully onboard, but it’s being done quick as COPL have no funds so not sure there is much to argue/change in the process we are within now.
I would love a restructured deal that pushed the company forward and negated the need for the legal class action I just don’t see it.
Yes the optimism is coming from there Alfresco, but my opinion is that I don’t see the current process being beneficial for retail SH’s so my assumption is we are all going to need to go for the long hall legal route.
Would love to be wrong of course