Member Info for Looed

Absolutely Lifeishard - nothing wrong with a bit of creativity to occassionally shake things up.

Lifeishard – Annoyingly there is no timeline for an update but I / others keep at them in the hope we get something soon.

As you mention in your post, and as ODR1 commented in his post on FSHG, a lot of work goes on behind the scenes and that will continue until something of substance crops up, be it good news or otherwise.

I don't know how often the check-in here, but they are very aware of this BB, so as in addition to your / WHamBoy / other direct messages they may well see your posts here from time to time. So you might be rumbled as the 'Mork & Mindy' guy!

Hi ODR1 - thanks for that and apologies for the mis-read on my part.

Hi ORD1 – Yes you recall correctly re FSHG – but I don’t agree that the group has failed. FSHG has helped to get some company messages out to its membership, reaching people who no longer participate here. FSHG is currently dormant but can be activated should the opportunity present itself.

The rest isn’t really aimed at you ORD1, they are just general comments.

The company is aware that FSHG has been used to share their messages, they just won’t engage directly. Yes, very odd but that’s the topsy-turvy world of dealing with FRC. I will continue to promote the group as one of the preferred links to shareholders if / when comms ever show signs of improving.

FSHG is not an action group and so people calling for that will need to set up a separate group. DevonianExile set out the realities of this in a post from early ’21, I think these comments still stand today and I hope he doesn’t mind me re-posting some of those comments –

“For the record some of us did take some informal professional advice via our own contacts just in case, regarding the options open to seek redress, and it would be daunting. So mismis and others - off you go. Set up you own action group - but in order to do so a) tell us precisely what action you intend taking, b) how you will fund it, and c) how you will engage lawyers - either in the US or Georgia (action in the UK is a non starter - there is no entity or director based here - nor any assets or registered entity). And then tell us how you will respond to the nigh on certain counteraction that would be immediately brought against you/others personally (because night follows day in the world of FRR).”

Also, you might need to be aware of data protection laws in the UK when setting up.

If you want to plough on its worth keeping the above advice in mind as you proceed, don’t underestimate the admin / legal side of things and try to get others involved to spread the workload.

I have seen some ask for something akin to a 5-year plan and some asking for a simple “hi” from the company. Which is it? You will need to better articulate what you want. I did see someone suggest putting something together along those lines but, typically, no one followed through.

They huff and they puff – and then just stand back hoping someone will just jump in and sort it out on their behalf. I am pretty sure all that anger has achieved exactly nowt to date – so perhaps you should time-out the anger and try to get creatively active instead.

At the same time, it’s hard to disagree with what Puddy said. That’s a cold reality check right there.

keysersoze - I did a quick check (so I might be wrong) but I think the last substantial statement from the company was released end Oct 2021 ("U.S. Based Frontera Resources Advances Return to Work with Government of Georgia") so about 10 months ago.

The focus of that release was return to work in Georgia, ZM and the FRC relationship with the Georgian Govt.

https://www.interpressnews.ge/en/article/116463-us-based-frontera-resources-advances-return-to-work-with-government-of-georgia/

(old article, not a new one!)

Jv123 – there is no need to get so defensive just because you mis-read something I posted. Mistakes happen. No need to spin it into something it isn't.

jv123 - I don't think I said we are due an update? Though yes of course we deserve one. As I said in response to WHamBoy - I keep at them and will update if I get anything to share.

Outside of that I do not know when or how they will issue their next update. Hopefully that website finally has a use.

I expect JimSlade worked very hard to get his "cut & paste" message and the BB is all the better for him sharing his reply with us.

WHamBoy - no problem, I do keep on at them and will let you know if I get something to share.

I would have thought we would have heard something by now, but as the company said (what now feels like a lifetime ago) that much is going on outside of the public domain.

We first seemed to lose it all after the Arbitration Award but they got that reversed. Then ZM stole the lot and they successfully reversed that in Texas and we have to hope they are doing the same, and with the same level of success, in Georgia.

They are still replying to some. A company of some shape and form exists and we remain shareholders in that company. Money is coming from somewhere to pay for those fancy looking new offices and the various legal teams.

I don’t know the chances but compared to the challenges of the past they are still there, they seem to be focused and still fighting.

WHamBoy – yes it does ultimately depend on what happens in Georgia. But Texas is important too.

The PSA states that any dispute “…shall apply the provisions of this Contract as supplemented and interpreted by general principles of the laws of Georgia, the United States of America and the State of Texas as are in force on the Effective Date.”

We can see in the Texas filings that in early 2021 the company had already begun to aggressively deend their position with the GOGC regarding the assignment, force majeure, PSA extension and so on. We know that earlier this year Texas ruled in the favor of the company in the ZM case, which in part upheld the assignment to FRUS.

So with that, back to Georgia and the “ongoing legal proceedings” they mentioned in their message to JimSlade.

https://www.londonstockexchange.com/news-article/BLOE/results-of-annual-general-meeting/15569888

I'll let them know!

Lifeishard - I would hope well before year end!

Yes still there, and they are still getting all messages sent as the inbox remains active. They are, I expect, waiting for a few final pieces to fall into place before they will comment further.

WHamBoy - I got a brief acknowledgement from them not too long ago (nothing was shared).

WHamBoy - My read of the PSA, and the letters from FRC entered into evidence on the matter, show that the company only had to declare force majeure (obviously with good reason) and only need to keep the state agency updated regarding the time needed to remedy the issue. The down time is then added to the contract. They do not need permission providing the situation "is beyond the reasonable control" of the company.

Thanks for the offer ODR. But if we ever get to the point where we can share a drink I will make sue its the company that picks up the tab!

WHamBoy - Under the original terms the PSA ran till 25th June and the Mineral Licence expires 27th Aug. That is before Force Majeure and the recent request for a 5 year extension.

Glad we finally agree on something. I am indeed very straight laced when it comes to the guardianship of other peoples money.

dear on dear tsbs1 but scores and scores of people contributed to the fund and not one of them should feel there is any sense of impropriety regarding their contribution. As you seem to lack this basic level understanding (or can't be bothered to) I will say no more.