Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Cymro: well done for finding this and thanks for sharing.
My immediate thought was the same as Cazbraz's, as unless this was written in the last month it gives us nothing we don't already know.
The potential funding source was supposed to be accessible by the end of April. If it has materialised then hopefully discussions are on-going to agree a new licence for us. The current silence is deafening and we have no idea whether that means the liquidation is just progressing or if it's a positive. The timing of the political turmoil couldn't have been worse sadly.
Touche Contra; made me laugh! I hope you (and Madp) prove to be correct ... and as spot on as your football prediction (we need Martin out!).
Madp: get yourself a copy of the liquidator's report. It would save you having to write these posts!
Madp: I'm afraid the liquidation of FRC includes the FRUS subsidiary that owns the asset.
The asset was transferred to FRUS. FRUS in owned by FRC currently being liquidated so, if that goes through then the asset is gone, along with our investments.
When some of us first invested in FRR Labour were in power and no-one had thought of Carbon Zero ...
Monti: you do come up with some strange hypotheses. Yes, I have read the report, but probably only the 56 times ... I want this to come good, along with almost all the posters on here. My loss is life changing and I'd like it back. I asked the question as I genuinely don't know whether there's a mechanism for Liquidators to get paid their expenses, or at least an element of them, by the Cayman Island authorities in the event of there being no recovery from the Liquidation.
Apologies Lifeishard, I had some bad news yesterday and it clearly affected my sense of humour as I completely missed the sarcasm.
Would still be interested to learn what others think about the questions I posed re Deloitte's attitude to the liquidation and whether they do need a positive outcome in order to be paid?
Lifeishard: I'm afraid the Deloitte "very minor" issue, is a "very major" issue. Having said that I have no idea how long we have before the liquidation is finalised. Hopefully they allow as much time as possible for a positive outcome to materialise. I assume they will give it every chance as that's the only way they'll get paid presumably? Unless the Cayman Island authorities will foot their bill?
Indeed. Best wishes for a swift recovery erazzel.
Contra: you clearly haven't read the report, presumably as you haven't been able to get hold of it. What you say is not what is happening and will not happen.
Contra: they're trying to reverse the liquidation. If successful then all shareholdings, including all of ours and Zaza's (unless there's a mechanism such that he had to forfeit them), will remain in FRC as they were before the liquidation. If unsuccessful then FRC is liquidated along with our shareholdings and the asset is gone too.
If the funding had been accessible then it would have surely been accessed before the liquidation deadline (to save loss of control and considerable additional cost), so it suggests it is doubtful it will come now... bwtfdik
****nal: this is a clever way of trying to get a feel for the content of the report, so credit to you for your ingenuity.
however, having seen the recommendations i can only assume that there are a couple of folks on here who have messed up your exercise.
Lifeishard: not intended as a dig at FSHG. They put in a huge amount of effort to firstly form and then try to set up a dialogue. I was a bit disappointed at their disinterest in the suggestion and perhaps that was unintentionally reflected in the tone in my post.
Erazzel: you're correct in that the Liquidator fees dealing with the emails will be significant especially if the have Directors dealing with them, like happened with mine. If we were to survive this then these exorbitant Liquidator fees will have to be paid first. So it's a shame that FSHG didn't agree to try to take the burden off the Liquidators, although I accept they may not have been successful if they had.
Tsbs/Monti. I'm sorry but I have been told to not say anything so I won't. I'm sure someone will get it soon and be more open, but anyone hoping to get it via FSHG won't as they have informed me that they "are not interested in getting involved in this".
Ian12: they will be able to trace where the leak came from through lse. I would also add that one can't anonymously share the report as they emboss your personal email address all over it.
You will recall that I did reach out to FSHG with a suggestion that they contact the Liquidator direct to obtain the report for their already verified shareholder members. That was first thing Saturday. I haven't received any response/acknowledgement from them.
Tsbs: We all know the facts: we are shareholders in a Company that is currently being liquidated. As part of that process the Liquidators produced a first statement which included that they had discovered no liquid assets and that there were creditor claims. These are the facts.
As part of that process they've now produced a Liquidators' report. I have been told not to say anything about what's in that report.
Good morning Lifeishard. Apologies I missed Avi8r's post. However, I did reach out to FSHG via a friend on Whatsapp first thing yesterday. I was concerned at the Liquidator cost in having to verify shareholdings before sharing the report, especially as my email was dealt with at Director level(!), which will be expensive. So I suggested that FSHG approach the Liquidator direct and suggest that they could distribute the report to their, already verified, member base, and in so doing save a big chunk of Liquidator costs. I haven't heard anything back from FSHG yet.