In Zaza we trust!
Although I accepted my Frontera investment was a big gamble, I certainly didn’t fully appreciate the risks of investing in this kind of company in that part of the world. A loss of my savings is nothing compared to what is happening to people in that part of the world though. Wish I’d just put it all or even some of it into crypto :-( !
Lol, thanks for clearing that up Coggy. Hi Billy!
I think you’re Fire btw. Just by the fact you joked about Coggy’s age. Dementia doesn’t appear to have taken him yet (Sorry Coggy!)
Hi TSBS. Great to see you still posting. I rarely look in now so nice to see all the old crew still here. I’m good thanks. The kids are a handful now and keeping me busy. Never a dull moment!
Erik. You only have a small number of posts so I’m guessing you’ve changed your name but are a poster from old times?
That’s it Zeron!
2014. How time flies!
I’m with TSBS on this funding by SN. It’s going to hurt.
Also, wasn’t there an RNS years ago that said they look forward to updating us in the months ahead, but the months rolled on and on, an onnnn! So that part of the recent communication sent shivers down my spine lol
Thanks to Jim though and Merry Christmas everyone.
Hi Pyro. Sorry for your loss.
I have barely been logging on here so what a nice surprise to pop in and read something positive about the real Frontera. I may even read back a few pages to see who else is about. I really thought this was dead. Interactive investor did too so I had all but given up tbh.
Quiet quite. Get it right :-D
Tabs posts. Witty remark from Fire. Just like the old days, only I am much poorer :-D
That’s exactly what I was trying to say Phil. If they are owed lots in pay and potentially lots in loans, a restructure when the company is on its knees could see them take a huge slice of it. Perhaps they will restructure and just keep the loans and lost pay on the books for now and not convert it into equity. I guess we just have to trust that they have good intentions and it won’t be a highly dilutive restructure like the (um) 2011/12 ish one....
If there is a restructure how much will the company be worth at the moment? This will be key if there is a debt for equity as part of the restructure. Am I alone in thinking this restructure will probably be bad very for us. TBH, most things FRR at the moment are so worrying that I have given up worrying!
It’s hard to know who the enemy is with this lot, but I don’t expect any of them are on our side.
No offence meant btw Rainbow!
I can’t allow myself to get excited about any return here. 10 times bitten, 20 times shy, or something like that. I have a feeling that if by some miracle we do get something back it will only be after a massively diluting restructure. A debt for equity in the new Frontera type of restructure, with some new players taking some chunks of the company too. The only way the restructure might not be so dilutive is if the assets are already massively proven up and worth a fortune already. I don’t think they were or are though. I hope I am wrong and Rainbow turns out to be not as crazy as he/her sounds!
I’ve wondered if this channel of communication has opened due to the threat of legal action from some shareholders. Another carrot dangle for the pleb private investors perhaps. Seems a bit odd. I hope I am wrong.
I'd love to think a massive deal was being thrashed out in the background, but unfortunately I just can't see it. Perhaps there were discussions in the past with a super major, but my gut (not experience) tells me that any interested party would have said sort out your upcoming court cases and arbitration and then we'll have a proper chat. The arbitration appears to be somewhat dealt with by Frontera handing back 99% ish, and the apparent cooling off of GG and Frontera, but as far as we know we have only 7 years left to produce anyway. That still leaves the court cases though, which on the surface seem as though Frontera are the backfoot. There is of course the old theory that Frontera were just a front for a bigger company, but if that was the case and the asset was as big/valuable as people suggest, they surely would have stepped in by now to re-capitalise the company. My guess now would be if a deal is struck to settle the court cases we may find ourselves pretty much wiped out in the process. The only thing I can hope is that in the journey to this point and the arguments put forward by each party trying to stake their claim, that the value assigned to the asset is large enough that we may still get something back even though we will be diluted in any restructure that might occur. All ifs, buts and maybes, and with the total lack of recognition that we retail investors even exist it's not looking great to me.
PJ, it's best just to chill out for now and let it all play out in the background. They won't update until they are ready. We have changed nothing over the years, even when we had the very helpful FOF reaching out to the BOD. Even face to face meetings with Zaza at investor events turned out to be unhelpful. I'd say the odds are stacked against us for coming out of this with anything meaniful. Frontera restructured before and that didnt end well for the share holders at that time. With so many battles right now, uncertainty on whether we have any income and only 7 years left on the production license I can't see how we could come out of this restructure without being massively diluted or wiped out. Hopefully not long to wait now to be put out if our misery or be pleasantly surprised! You never know with Frontera!
Didn't it come out in the court docs that he little contact with SN. It seems he was kept at a distance, which is hardly surprising.
I think the short license lengths were questioned at an investor event. Zaza said something along the lines of once commercial it is not a problem to extend. I'm not sure how seriously to take those investor events though.