Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Predator, Zaza has not been found to have told any lies to date. I don't know why people keep slating him on this board. It was down to them to decide whether they invested. Until Zaza is proven to be losing, acting in an improper manner, etc I don't see the point in bemoaning him. If he does not act in a decent manner then it's fair enough to take legal action at that time. Until then I see it as not right of us to criticize him when he is likely doing he's all to save Frontera for all investors including himself.
Some people on this board have been speaking absolute twaddle of him riding off with the company. That is nonsense, he is legally bound to take us with him as fellow shareholders. That would be the case if he had little to no shareholding but as it is he has a large shareholding with a lot of his own money invested. To me he comes across as a guy going about the business of trying to sort out the mess Frontera is in and moving the business forward. Until there is evidence otherwise this is what I take it as. To date in the two years since we have been delisted there have been many times that some posters here have claimed that Zaza is up to no good on a certain issue but they have never been proved right.
To my mind there is only the matter that the loan debt and terms of it should have been notified to shareholders but I can see that would have likely have trashed the company so in that respect there was probably no choice other for him to keep quiet on the matter.
I personally think Zaza may have been aware that the GD would be stealing this Election weeks beforehand as he no doubt knows his country and so probably has gone ahead with restructuring dealing with them as knows the way things swing out there. I'm still positive that we could get a good outcome out of this restructuring and hopefully we'll hear soon.
Zaza stated that restructuring is happening so for me I take as a firm given that is what is happening. So I don't doubt that is what business is what is happening in FRR at the moment. I don't think the striking off the companies in the Caymans is an issue as it's all being dealt with. Zaza comes across to me as a able businessman able to do what is needed to be done. I think there are a lot of posters on here that worry too much over every given issue. Even if we don't hear anything by the 30th and striking off day I still believe the reorganization is being sorted. Until I hear from the horses mouth that FRR is no longer a goer I expect what has been talked about by Zaza to materialize. Just the exact composition of that materialisation we won't know until told but I'm sure it is a legal given that is shareholders will be in one way or another as much a part of it as we were before.
That's some great working out Welloiled :) Seems to logical and well thought out. I think you could possibly have sorted out what is probably likely to be going down I hope.
Domain names take a while after being dropped to go back into circulation apparently. During that time after being dropped they might be able to pick it up for a certain period before having to wait for them to become publicly available again, that apparently can take from weeks up to months. New domain names can be easily taken up and there are usually loads to chose from with all the various endings, i.e .org .net .EU etc, etc. They can of course hold back on putting a created webpage live until whenever they wish. Odds are we'll here info about the restructured company before a website appears would be my guess.
Is there any implication in this for us (FRR) that they have been awarded the block next to us? Is this on the 99 percent we gave up or across from that? A new area to be worked?
I doubt Zaza would have made such a statement if we are all screwed. He can probably only say so much at any given time in an unofficial capacity to the news people rather than an official statement to shareholders I'm guessing. Probably a case of staying a step or two in front of what you release to the news in many cases.
I'm hopeful of some more news this week, maybe tomorrow, hopefully positive. This is the last few days before those parts of Frontera are struck off in the Caymans and of course the Election in Georgia.
I looked at the info online about Frontera Eastern Georgia today that someone found the other day. Doesn't actually state where it is a legal entity but could be in Georgia I guess. I'm guessing that they've always had it as a legal entity in order to pay vat etc which recalls the Arb dispute over the vat so guessing they would have had to register it there for many things. Like has been said that is the part of Frontera where all the work happens. Apparently down as being registered from 1997, but again assuming it is Georgia.
In this translation/article it sounds like it's just being phrased as a matter of fact term that the 99 percent area was not explored and the state can issue a tender for it. It could just be that FRR are way ahead on their field and have all the necessary data and know that they aren't likely to be affected much by such happening. Either that or a new big investor has bought into FRR who is interested in it.
I'm not sure why people are getting all worked up as to whether we are taken into the new restructured company. It's surely something they must do in order for it to be legal. There was the same panic on here when we heard the asset had been transferred to another part of FRR a year or so back before we found out all was well. To me Zaza has always struck me as a sincere kind of guy so I'm sure all will be fine. I'm more interested in finding out more about this restructuring as a whole. It must be a fair way in now so should be resurfacing soon or has already done so. I think in one of the recent articles Zaza said FRG is a legal entity in Georgia, is there any info out there to confirm this?
"Exploration work should be carried out there, i.e. investments should be made. The license there does not belong to us, ”Zaza Mamulaishvili told BMG."
A curious phrase to use. Why would Zaza be suggesting that exploration be carried out in the 99 percent of the area that was lost? Does he want to be facing more competition? Lol.
I wonder if there might be something a bit telling in that phrase. That it infers that FRR is to be bought out so we are no longer concerned with that area? Or possibly we are being bought into and Zaza is suggesting that that area could be worth exploring/license gained by whoever is buying into FRR. Zaza is apparently a Director rather than CEO of the supposed newly restructured company so maybe the latter?
PJOHN, Zaza made a statement to the news people last week. He told us about intended restructuring of FRR. The parts of FRR in the Caymens are to be liquidated and a new entity created, possibly as Frontera Georgia Corporation. Frontera Resources Georgia (FRG) will apparently remain to do the work in Georgia and hold the licence. We don't know where the new entity's will be registered yet. All to find out soon I Hope, from recent articles it looks like Hope might be on the back foot on all of this and not liking it, nothing is certain though, hopefully we'll get some info in the next few days.
If you mean the recent stuff so far today looks like it's about another filing by Hope in the ongoing court case. Usual stuff to be expected from him I guess. If Zaza has got/gets the situation sorted with a debt for equity swap or some sort of deal with another investor then that will probably sort all of that stuff. More info on what is going down soon hopefully.
I'm not sure what others think on where FRR might register the new entity, US, UK, Georgia or maybe even Caymans again, elsewhere???
Coronavirus cases gone sky-high in Georgia today, at 1186 today so over a thousand a day now.
PJOHN, Zaza made a statement to the news people last week. He told us about intended restructuring of FRR. The parts of FRR in the Caymens are to be liquidated and a new entity created, possibly as Frontera Georgia Corporation. Frontera Resources Georgia (FRG) will apparently remain to do the work in Georgia and hold the licence. We don't know where the new entity's will be registered yet. All to find out soon I Hope, from recent articles it looks like Hope might be on the back foot on all of this and not liking it, nothing is certain though, hopefully we'll get some info in the next few days.
If you mean the recent stuff so far today looks like it's about another filing by Hope in the ongoing court case. Usual stuff to be expected from him I guess. If Zaza has got/gets the situation sorted with a debt for equity swap or some sort of deal with another investor then that will probably sort all of that stuff. More info on what is going down soon hopefully.
I'm not sure what others think on where FRR might register the new entity, US, UK, Georgia or maybe even Caymans again, elsewhere???
Coronavirus cases gone sky-high in Georgia today, at 1186 today so over a thousand a day now.
Thinking today that Outrider must be in a situation where it will end up with less than the $48 Million or whatever it is owed, possibly far less as I didn't they request that the GG get whatever new company that might be given the license (in such a scenario) the money back that it is owed by FRR. To my mind I don't think Hope would have gone to the GG without him facing a situation where he was not going to get back as much as the loan notes deal was for.
Anyway, less than two weeks till the Georgian Election so hopefully some more stuff will come up in the coming days that might shed some light on all of this.
Let's hope Outrider will be Outridden :)
Interesting stuff Investmentboy, so I would deduce from that, that Frontera Resources Georgia is to become/has become a legal entity elsewhere? Makes sense since they need to keep FRG as that is the part that has the license and does the work on the ground in Georgia. Hence why it doesn't matter if it is struck off in Georgia since it's legal entity has been/will be moved elsewhere. So the legal entity effectively transfers to another country. So no liquidation will take place or perhaps even striking off in the Caymans as FRG is no longer there to be liquidated or struck off. Although only possibly liquidation in terms of of it ceasing to exist as a legal entity there as it will be a legal entity in another country.
For sure, I assume some further news will be forthcoming, positive I hope. Any sign of any other companies being formed in Georgia or elsewhere for Frontera?
Pretty sure Hope's approach to the GG was more out of personal desperation than anything else. In my view he made a hash of it, he clearly comes across as only wanting to get himself out of the hole he is in. Why the GG would remotely care about the hole a loan shark has gotten himself in is beyond me. If they even looked at Outrider they will have seen it is facing big losses and probably in no position to deliver. In any case Hope basically tells them that once appointed he would just get someone else in to do the work so he isn't even a proper oil company, he just wants to be saved & become rich by feeding off others.
Good working out MP. My thoughts are that if Hope's, Outrider have lost a lot of money in the past financial year then him and Outrider SH's could be feeling it, going by figures someone here stuck up yesterday. As I understand it Outrider's business is about going around and buying distressed debt and loaning out money at exhorbitant rates to companies that can't get loans at usual commercial rates. Now when stuff comes up he can take advantage off he can clean up and Hope goes about his underhand tactics. However some of those loans the company will just go to the wall and nothing can be gained, they just result in a loss to Outrider, Hope and SH's. Suffice to say times for many companies are not good at the moment so Outrider's loans may be more shaky then ever. Hope and his SH's could be looking at near wipeout of the money they have invested in Outrider. Odds are I reckon Hope was hoping to clean up with Frontera to reverse his fortunes as otherwise even if he gets his loan notes repaid or swapped for equity it, divided up with Outrider shareholders he is probably still sitting on another year of losses overall.
Just has Frontera for his workplace but no logo just a white flag which seems to mean no logo. Not much info other than that.
What could be worth thinking about is why the move to a parent company in Georgia? Is it something the GG have stipulated for it give again the seven year license? Would that mean we would no longer be a US company? or would we still have something there. The US seems to have come through for us (though we paid lobbying fees of course) so how does that sit now.
Don't think it's by choice tsbs, think it's probably the only play Zaza has right now to resolve the situation and knows that Hope won't have a lot of choice as he can't liquidate the company without losing the license. If he did that all he would be left holding is a perculiar message from 'Ziggyzag' lol.
Reading down I must say I also agree with Mole, now is not the time for legal action as he stated not only is it very costly with often the lawyers being the only winners it is often very long winded. Interjecting now at a point where this restructuring might help us shareholders might only serve to mess things up again. That and often those taken legal action are nearly always seen as the enemy and hence a problem by the other side. I think we are best waiting as until anything obvious emerges to say something dodgy has happened there could be little reason to go down the legal route.
Jonathan, I noticed that too along with the term 'refund'. My thoughts are that it probably wasn't meant to be interpreted as many would think as 'you just get your initial investment back as do ourselves but we then also walk of with the lucrative oil & gas field'. I think Zaza was just speaking in general terms. There's plenty of evidence the field is now worth many times our initial investment plus more pertinently bringing in a big investor to pay us out would just hand the field to that investor, for Zaza & co it would achieve nothing advantageous. Like I said earlier I don't think Zaza is into dodgies anyway. I'm pretty sure this will just amount to a transfer of shares for us as it's restructuring not starting up a new company. I think Zaza probably just meant that the company's present circumstances need to he resolved in order for everyone to get a return. Being a Georgian guy he is probably not aware that slightly different nuances in phrases in English can mean different or a number of different interpretations.