Firering Strategic Minerals: From explorer to producer. Watch the video here.
I have wondered the same thing Shed. Frontera would have known Outrider's MO. As posted earlier, it's on their website so easy to see they are a vulture fund that have no problem in forcing bankruptcy, if they have to. Giving Hope a place on the board as part of the previous debt renegotiation was fair enough, but giving him the power to veto on funding decisions was a suicidal decision, and as we worry and get to the depths of our speculation whilst we wait in limbo, we may wonder could it really be part of an elaborate plan. That really would be a black swan event, but it would seem a bit too far fetched if we really follow that train of thought. If this was always the plan, ie to lose the asset, they could have just defaulted on the last debt due to Outrider easily enough without leaving themselves open to this kind of questioning, ie is this all a plan they hatched up? They have fought hard at other times to keep the company going as well. It could be that Frontera had to accept his veto vote as they had no choice in order to get the debt terms restructured. If that is the case, and it likely is, perhaps Frontera's case against Hope sharing secrets wasn't as strong as we were led to believe, against the backdrop of owing so much money to them. Perhaps sleeping with the enemy was forced upon us, but ultimately that also could have given Frontera the chance to remove them that we may not have gained if they simply remained holding our debt alone. I think Outrider winning in court is a lose lose situation for them and us, as the assets may just revert back to Georgia, so hopefully an out of court settlement is being negotiated. The worry for me now is how many secrets that Frontera may have kept might be coming out and making potential nomads think twice about jumping into bed with us. I think an out of court settlement would change their minds, but then again would Outrider reach an out of court settlement if we don't have a nomads?
What does it even matter?! You have your theory and other people have theirs. Frontera are suspended and we'll find out on December 28th just who has the aces. Why on earth would you waste all day (christmas day) disputing something so completely pointless with people that hold the share so will of course want to hold onto some hope until our fate is decided on December 28th. I'd understand if Frontera wasn't suspended and you held an opposing position. I can't understand what your crusade is about given the current situation.
As Tonytips says it's only the listing for the hearing that will be released in January. ie. We will find out in January when the appeal will be. It might not be for a while.
I don't disagree with you about Zaza seeing this as dirty injustice btw, but I have no idea whether the eyes of the law can come to that judgement. I have a few friends that are very successful solicitors for large companies in London, I'm not prepared to burden them with questions about this at this time of year. What will be will be. In Zaza we trust!
Yes, that could be part of the concrete proof they think they have that would win them the case. Another worry i have is they don't have anything concrete though, but thought they'd risk it in court with a whatever case they do have to try to force a settlement, rather than lose control of the company they've built due to Hope's power to veto and his growing unethical ambition and share holding. Ie. They'd cut their nose off to spite their face just to make sure Hope doesn't get the assets. If they lost all they'd put in here over the years theyd be in beyond p'd off I'm sure, but I'm sure they'd still also be rich. Many of the private share holders wouldn't have the luxury of just being massively disappointed and p'd off.. All we can do is wait and trust in the integrity of our BOD. I'm just glad the deadline for the defence is so soon. I'd hate for this to drag on too long. Please Zaza, please let this be part of a master plan and not a master fcuk up.
If Frontera do end up losing the assets over not paying the $2m interest and the PSA is cancelled, so the assets go back to Georgia, as some have suggested will happen, we'd have to take a long hard think about why such a thing was allowed to happen. Zaza and SN would have been fully aware of the ramifications of not sorting out payment in cash or shares for the $2m dollar interest, so they either had certainty that they can win this or darker mode powerful forces are at work here. Only my opinion and not discounting other theories, but it does seem like a massive gamble and I can't believe they didn't know what path they had set themselves on by refusing to settle the debt. They moved heaven and earth to get the extra headroom in going back, but it would appear they want to stand firm and take on Hope/Outrider now rather than roll over to greater dilution and losing a little control. They surely either have concrete proof that will win the case or are just willing to gamble and lose it all for some unknown and would say dark reason.
B-2-0, for many years you've been saying a black swan event will occur. I was taken in a little for a while, but I haven't believed you for quite a few years now. I do now. I'm just not sure if it will be a good thing or a bad thing for us share holders!
Hi TSBS. What a mess we find ourselves in hey. I should have known something like this would happen though, as I was happy with a recent top up at 0.39! So you can all blame me for our current position. Wishing all the Lths a very merry Christmas and hoping this doesn't dampen the Christmas spirits too much. It's so ridiculous it makes you think this must be part of a grand plan, sadly, it could just be due to incompetance on a grand scale. Luckily for us, I think we'll find out soon enough and will be put out of our misery whichever way this goes. All the to you and your family mate
If all forms of fundraising were rejected by Hope, other than one that he and his company stood to gain from, surely that isn't in the best interest of Frontera and its shareholders, therefore he would be breaking his fiduciary duty. Or is that just common sense and not how a court might see it. To a laymen it seems corrupt that a board member could force an unethical route of financing simply because he technically holds a veto. It's a massive conflict of interest. Primary would have been the best route to pay the interest.
I think the only way we all win here is an out of court settlement. I just can't stop questioning how Zaza and SN would let it get to this stage unless they knew they had enough on Hope to force the settlement or win the case. My guess is they want a settlement though and each side is testing the other to gain strength in negotiations. The alternative is Zaza and SN have just greatly underestimated Hope's ability to asset strip them.
I just don't understand why Zaza and SN would risk it all to take Hope on when they could have used headroom to pay off the interest going back. They are either super confident or super reckless. Could they have Outrider on naked short selling or something like that, to bolster their case. Surely they wouldn't risk it all unless they were almost 100%certain of victory.
You haven't even read any supporting info Art. How on earth can you just make a guess. Means nothing anyway as we're suspended an on open we'll either die or soar. Seriously, how can you make yourself sound so stupid by coming on and asking for a update from people and then become a judge?!
It makes the extended date of December 28th for Hope's filing of Defence the next important date. What a mess though. Seems Zaza is gambling with the company's future in order to try to get rid of Hope, as this situation could have been avoided. Perhaps this was the only way to get Baker Hughes and BP fully on board though?
It's not over, injunction is not lifted yet. Hope either didn't file his defence as a delaying tactic or he just needed more time to pull it together. My guess is it's just a tactic to see what the court would do. So now we wait some more. Perhaps now that Hope knows the injunction will likely stay in place until the claim by Frontera goes to court he'll come to an out of court settlement.
FRR's board is very very well connected. Hopefully Hope has bitten off more than he and his fellow vultures can chew here. Stick it to them Zaza. Perhaps we should be reporting TW to the FCA for being misleading by saying we are being investigated by the FCA, when clearly it isn't at that stage yet. A person in his position of influence should be more careful. Not sure he could get away with saying it's just chat forum speculation and chitter chatter.
I have actually reported FRR to the FCA in the past, back when Frontera would announce campaigns and then just fall silent on them, among lack of disclosure on other price sensitive info. The FCA did nothing except send the stock reply back. I have very little faith in the FCA. I find it amazing that TW gets away with the things he says and also the way he says them, but I guess given my views on the weakness of the FCA I shouldn't be surprised. You really could work this however you want to. TW is shameful and gets away with saying whatever he fancies, the FCA weak , and let's face it, Frontera have been questionable over the years too, so It's hard to know what's really going on here. As a holder of FRR I'm hoping Frontera are finally getting their act together and we'll come out the other side triumphant. Hope and Outrider have tried to manipulate in the past for their own benefit, so It's most likely this is the case again. Frontera just need to prove it.
Really, thanks for that. Now, back in the real world. AIM would grind to halt if the FCA would do their job properly. TW, his site's content and even the way he writes about the companies/people he targets is shameful.
Thanks TSBS. Happy Christmas to you and your family. And yes, surely next year will be our year :-)
Probably best logging off until the new year TSBS. All the waffle will only take an edge off of your christmas cheer, and who here honestly believes we'll be getting our Christmas pressies this year? Maybe the Easter bunny will bring us treats but I think we're still on Santa's naughty list.
It feels like 20 years Coggy. I'm ready to retire!