Member Info for miker444

Hi Pompey mate, must admit that my gut instinct, and that is all it is, when I saw i3 attending the oil capital presentation was a bit concerning that they are still looking for funding. I had it in good faith also that funds were a done deal. It may be nothing whatsoever to do with this but obviously there is a reason why we have been delayed twice. I am not worried ( too much ! ) at this point and am being honest when I say would not expect a 'roadshow' or presentation to be cause for an official update. I would, however, expect an update if we are delayed for a third time as investors should be aware of the reasons in that instance and if all is well. Some transparency would not go amiss, and even if it is not the news we may want we should be put in the picture by management irrespective. Could be no more than i3 putting it out there to oilies that they have arrived on the scene and basically an announcement, no more no less. We shall see soon enough. atb

Hi royoboy, After such a lengthy delay they ( i3 ) should know if it is going ahead before the 11th hour i.e 4 30pm the day before!! so would hope they announce that very fact ( listing on 30th full steam ahead etc ) a couple of days sooner, certainly wouldn't hurt as we have only been aware of the delays by looking at IPO due soon boards. If we do not hear by the 29th it is my guess we will have another delay late in the day as previous 2. atb

Morning royoboy, just my thoughts but cannot see the oil price being the reason for the delays. Oil price goes up and down and you could wait forever for the price to be deemed 'right'. There will, already be costs incurred of equipment hire / rigs / logistics so they will want to list asap imo certainly to appease already existing institutional investors. It may well be delayed again but until we know the reasons and just how big the obstacles are we just have to wait. The interesting thing for me on the last delay is the length given for the new date, between 3 weeks to a month. This suggests possibly that the issue, whatever it is, is fundamental and not just dotting the i's and crossing the t's. Will still happen but we need some updates but if show.me is correct and he usually is we are in for some roadshow news etc. atb

Many Thanks show.me for the update, I have said on a few posts that Cora has the potential to be much bigger than originally thought from our investment point of view but understand all eyes are on i3. atb

Thanks show.me hopefully with the length of the 2nd delay date it will be more than enough time to get all the problems ironed out, whatever they were, and fingers crossed we will not have a 3rd delay. Rule of thirds, I believe the £130k raised by Gwik for Cora investment was from Paternoster buying 9% of Gwik's i3 investment so I'm think Cora will have to be after i3 IPO. It could obviously be announced prior to that but funds would not be available until i3 sorted but I also heard end of month for Cora so perhaps both at the same time. Still say Cora may surprise some, not necessarily on initial sp, and it won't happen overnight but on how big a concern it may grow into. One for the bottom drawer if people not in need of funds. Won't be far out and either way not long now. atb

Thanks at least that settles the matter

Nothing on Companies House 'filing history' for i3, now there wasn't last time either when date was changed but then no RNS was released for that one so it could be a spoof or just not been updated yet. atb

Ecuagold, good man, although I think we are all checking but in the event it is delayed again, which is a possibility, I think we would be entitled to have any questions, if asked, answered as to the reasons why. Here's hoping that will not be applicable. atb

Good Morning archie, yes it is and hopefully the listing date will not be changed again. Not sure how close we got to the date last time before it was spotted, was it the day before I am not sure. Also intrigued as to why it was delayed, hopefully due diligence and ironing out some finer details that were not transparent enough legally although we may never know. Keeping my feet on the ground as expect the big rise sp wise to happen in the following 6 months after listing due to further acquisitions including the total ownwership ( hopefully ) of the Liberator Field Cluster and then production. Right now I will settle for a successful re-list, tomorrow please!! atb

I second that atb

Hi pompey, yes hopefully the detail taking a bit longer, I don't doubt due diligence required to get it watertight from legal point of view. Would be nice to now have an update explaining the reason for the revised ipo date to put peoples minds at rest. Amanda probably can't issue one without i3 talking to her first, at least with what caused the delay etc. atb mate

Indeed, another week then!

archie, don't think that is a concern or something we need to worry about I certainly am not. All RNS's are vetted and given the once over by the Nomads and legal eagles and Amanda does state that shareholders will be issued with shares once the Convertible Loan Note is initiated by i3. Stay calm my friend, all will be revealed tomorrow. atb

Just hope the conversion and transfer of shares goes smoothly for everyone, should do but have a feeling our brokers will be busy though if not!!. atb

When I spoke to FIM Capital ( my post Tues 12.42 ) who act as Customer Investor Relations Team basically she was a bit stumped how anyone could have received share certificates as i3 had not yet announced the terms etc. Could I be so bold as to suggest that what some people have received ( I have not had anything although I am not holding in an ISA ) are not actual share certificates but just notification of their original holdings with Gwik in readiness for conversion when details announced i.e your nominee broker just letting you know they are aware you hold 'Gwik' shares. If I am wrong fair enough but FIM seem to think actual share certificates not issued yet to anyone. atb

Must admit I had hoped for info on conversion details prior to listing and yes there is still time albeit not a lot. It does however look like that the 1st we may hear of this will be as it actually lists tomorrow. i3 / Gwik may decide it is better from a business perspective, quick, clean with no time for fallout / feedback from shareholders etc or just because there is nothing to gain from a prior release the day before listing. Don't know but I am with you out of courtesy it would have been nice to have an update and it may still happen atb

Scotty, I second pompey in letting us use your bb, much appreciated. Pompey did not realise Hum had released an RNS today so backs up gold production by end of year, there is nothing like getting revenue / money in the bank from a venture as it is then totally de-risked. Its at this point Cora sp should get a shot in the arm, irrespective of what that might be. Could be a nice little bonus in time for Xmas, in my family a much needed one at that time of year. atb mate

Hi archie mate, I must admit I am so absorbed with i3 that I keep forgetting about Cora Gold, totally. I think that is due to IPO end of June. Think we all agree that Cora will be a slower burner but looking at Hummingbird Resources website it could be quite a major player and a lot bigger concern that I initially thought. It may list 0.02 but once 'Gold Pour' happens which should be by Xmas then sp may get back to 0.1p+ fairly quickly. Depends on MarCap entry value. A nice bonus anyway. As you say it would be nice and hopefully an expected shareholder right to get an update today or latest tomorrow prior to Friday's listing. atb

I contacted a member of staff, Corporate Governance in FIM Capital who are nominated Customer Relations for Glenwick regarding some people have been informed and not others by their nominee brokers and had this response: Mike, There is no conversion method or stop date to inform the brokers / nominee holders etc of yet, however, Glenwick and i3 service providers are liaising on the share distribution process and a system is being put in place. All relevant parties will be informed shortly.I hope this helps as an assurance to you. Kind Regards Corporate Governance FIM CAPITAL Thought I would share this as I must admit, whilst I was not the only one, a bit concerned that it appeared somewhat random that some people had heard and others not from their share dealing brokers. Looks in hand and it has reassured me. atb

Thanks chaps.