Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Heid, I'm sure many professional bloggers in all fields set out initially to present to their clients/readers an honest appraisal of the company being discussed. Then later in their careers, many cannot resist the temptation of accepting the filthy lucre to promote (sometimes unashamedly) the companies who pay them.
Moniman......not everyone is honest, and the AIM market and rules are full of loopholes, specially designed for other such persons and their 'only just legal' advisors to manoeuvre through. The FCA are not known for following up transgressors of their rules either.
Moniman.....It's possible that the shares bought by the Oza family members recently and made public via the RNS was made to give the transaction and dealing the air of legitimacy.
Another way is for someone to buy on your behalf through a large fund up to 5% of a companies shares before details need be released. An possible analogy is where trainers of horses are not legally allowed to bet on the horses they train. It's well known in racing circles they just get someone to do it on their behalf.
more than one way to skin a cat!
There is obviously to my mind at least, surreptitious movements happening between the directors of Reabold and LNEnergy, in order to facilitate the joint CEO's of Reabold retaining their positions.
Some may believe that there will be a new board installed, others that the status quo will prevail.
I thought that was still a 'crapshoot', but with the RNS delivered today I'm now erring on the side of the two S's still being in power following the meeting.
I HOPE NOT!
Heid...Italy is 'the beating heart of Europe's black economy' So greasing the wheels of any business deal is usual easier there than in many other countries. As for the value of Calle Santo to RBD shareholders I am unsure. Dependant on all planning obstacles being overcome then the Commerciality of the project may be secure. Whether if so, that would entail any worthwhile return to shareholders is another matter. My view is that other 'newly found assets' would need to be financed, whilst the real agenda would be in fact to finance the joint CEO's opulent lifestyle into the foreseeable future.
The Gathering Storm15 Sep 2021 12:03
California Part 2......Time Line
14.6.2018
Gaelic Resources Ltd was acquired by the issuing of 420,000 ordinary shares in RBD at a value of £3,045,000.
RBD now had the right to an earn-in via Gaelic to 50% of the leases held.
These leases operated by Integrity Management Services (IRS) who are in charge of operations of the licences.
Unaudited accounts at that time of Gaelic show net liabilities of £73,728 including a shareholder loan of £756,257.
That last amount was assigned to RBD as part of the acquisition deal.
Notes
Gaelic Resources owned 100% interests of Temporary Energy LLC (A private Californian company)
Temporary Energy has an earn-in agreement with Sunset Exploration to earn into 50% of 'certain' Oil & Gas licences
owned by Sunset Exploration.
Temporary Energy also has an agreement with Integrity Management Service (IMS) for an unspecified fee.
2.11.2018
RBD says the Grizzly Island well drill will be deferred until 2019 and prioritising West Brentwood well.
8.2.2019
RBD issues 1,980,000 shares to an Institutional Investor thereby transferring 350,000 shares to Connaught Oil & Gas
a private Canadian company registered in Alberta. Connaught's primary asset is 35.04% holding in Rathlin UK.
29.4.2019
RBD director says that the wells at Parta Romania and Grizzly Island planned for later this year (2019).
23.9.2019
RBD decides to drill well VG-5 ahead of planned well at Grizzly Island now expected in 2020.
26.2.2020
Reabold in its California update never mentions Grizzly Island.
10.6.2021
Reabold in its full year annual report never mentions Grizzly Island
31.12.2020
Reabold California enters agreement with McCool via Sunset Exploration for fee of £284,000.
This agreement includes Reabold California paying 100% of completing existing well as a water injection well, and
100% of costs to re-establish an existing oil well
RBD investment £1,933,000 and loan to Reabold California LLC £6,292,000 with no fixed repaymnet date.
January 2021
Presentation reports Grizzly Island to earn in 50% after drilling well.
* Permission to actually drill Grizzly Island never given by Californian Authorities.
persimmon
Posted in: RBD
Posts: 7,334
Price: 0.18
No Opinion
RE: Not long left3 Nov 2021 10:19
The Gathering Storm15 Sep 2021 11:54
Reabold California Part 1
Introduction
Subsidiaries
Reabold Resourcing Ltd........England........London.......Holding Company........100%.
Gaelic Resources Ltd............Isle of Man....Douglas......Holding Company........100%.
Reabold California LLC..........USA.............Rocklin.......Oil & Gas Company......100%.
(formerly Temporary Energy LLC).
Reabold Resourcing Ltd & Gaelic Resources Ltd Directors Stephen Williams and Sachin Oza.
Reabold California President (Director) Mr Dero Parker
Gaelic Resources overseas address Douglas Isle of Man established on 14th June 2018
Registered as an Investment Company
Gaelic Re
Isle of Man Company Law I am a director of a Company which is going to enter into an agreement with another company that I have an interest in. Is that allowed ?
S148 of Companies Act 1931 requires a director who is in any way, whether directly or indirectly, interested in a disclosure....plenty of Wiggle room here then
"S148 of Companies Act 1931 requires a director who is in any way, whether directly or indirectly, interested in a contract or proposed contract with the company to declare the nature of his interest at a meeting of the directors of the company. (Penalty; fine up to £5000). However, directors are permitted to enjoy the benefit of any Interest provided it has been properly disclosed".
Uggy, Investors may be forgiven for thinking that the £6,000,0000 plus annual interest in Reabold California was monies designed to later disappearing into a black hole such as Daybreak Oil & Gas. A company that has NEVER made any profit in over 50 years of trading. How can any serious director think of doing that without..........Then the dynamic duo involved a private company based on the Isle of Man. Not a company transparent to us as to what is going on there. One has to wonder how much our two joint CEO's are paying each other for 'services rendered' annually.
Below is what many of us posted about what we thought Corallion would sell for and the subsequent share price.
Note deemule is now a poster under the name of Simon64.
persimmon
Posted in: RBD
Price: 0.33
RE: Corallion sale?26 May 2022 15:10
ChimeyBleue 27.05 - £75M - 1.8pps
SelfishMcNimby 17.05 - £25M - 0.55pps
Jamgoo 01.06 - £80M - 2.0pps
cloves 19.05 - £35M - 0.8pps
Manwell 20.06 - £30M - 0.66pps
deemule 20.06 - £101M - 2.0pps
Watts 27.05 - £45M - 1.45pps
Persimmon ? - £15M - 0.1pps
VHB 23.05 - £22M - 0.75pps
Uggy100 06.06 - £50M - 0.88pps