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Maybe the company testing the cores have found something interesting…… share payment instead of cash. - That would be trading on inside information.

Why not just pay your creditors and should they feel so inclined let them buy in the market? Less dilution and get rid of some of the overhang market makers are undoubtedly sitting on.

Which comes first and why?

To coin an Elvis Costello phrase. Ruffles “should be watching the detectives”.

Truffles is just a fluffer.

The oracle has spoken - You heard it here first!

You would have to pay me to invest in a McMaster led company.

I met him when he was raising money for Harvest from memory in about 2018. Didn't take up the offer. I think the shares were about 18p. AIM really is a cesspit!

As I said it's an iterative process with no statutory time limits. They will be going back and forth, and probably taking a legal opinion as well on certain regulatory matters. It is very time consuming. JIM are not a small business in the context of their Model B activities.

Another point to consider, it may be that JIM have a different rationale on some of the assumptions made by the skilled persons and are negotiating that. It wouldn't be the first time firms have had to do that and subsequently been proven right, I can speak from experience here.

Also remember, FCA is full of extremely low grade staff and has slowly gone backwards in competence since FSA was established. It needs a root and branch overhaul. Decision times, new regulatory approvals etc have become ridiculous. Would love to see an FOI request on the average time it takes for a new company to become authorised. It's probably approaching 12 months. That in itself tells you the incompetence levels.

I have had the misfortune of having had three of these FCA s.166 reports. Thankfully a clean bill of health each time but at significant monetary cost.

Generally they essentially come into play when the regulated firm has a visit from the regulator and either a difference of opinion exists between the FCA and the firms interpretation of the FCA rules. Or, if the FCA feel a company has many breaches of the rulebook a firm is served with a s.166/VREQ. It seems FCA have dialled into JIM regarding SYSC. The FCA gives a panel of names to the firm from which to choose a company to complete the skilled persons report.

Having read the RNS it states that the review would take 3 - 6 months to review the Systems & Controls. It then becomes an iterative process with the FCA and a lot of toing and froing between the firm, the skilled person and the FCA.. It is impossible to put a time frame on how long the outcome will take. I also believe some of JIM's model B clients have been served with s.166's as well and VREQ's.

Regarding outcomes and timeframes. You will definitely not get a definitive time for closure from Jarvis because it is totally out of their hands and they just don't know. Plus the FCA will never commit to anything. I wouldn't start hounding Jarvis as they have probably got more than enough to deal with. I also think the person at the FCA is just passing the buck suggesting you contact them. He or She knows full well there is nothing the person at Jarvis can tell you regarding resolution of this issue.

Therefore unfortunately shareholders will just have to wait it out.

I don't believe for a moment that Anglo couldn't pay $650K but just wondered, if true, why would the companies mentioned let the situation get to a stage of default. Thats all.

Foolmar, I presume you're a few pints down, so forgive me for not engaging in your "options" masterclass. Life's too short!

The article may have substance or may not, I don't know, you tell me? As I said, I just thought it was an interesting article given it was published close to a placing. Thats all, as you quite rightly observed it's been in the public domain for 5 weeks or more.

Foolmar, I don't know, was there a debt? You seem to be well informed. if so, if there was a debt, has it been paid?

BTW, I don't have a view either way. Just thought the article was interesting. Moreso, given it was published close to a placing.

Hi Foolmar, been a long time! The article makes for interesting reading.

Https://zambiareports.news/2024/04/29/bailiffs-pounce-on-anglo-americas-handa-arc-minerals-and-kopara-assets-over-650000-payment-default-as-bhp-offers-acquisition-amid-payment-crisis/

It's encouraging to see there is still a transaction. So many shells have aborted or run out of money. At least there is still some upside here.

Bargepole stock.

"I had a very similar reply basically it's anglos train set now and they will decide when it will be played with."

So ARC have no control over this asset?

One word - Warrants

Not really Fulmar. I just like to peruse the board from time to time.

Reading how you longs ramp each other up into a frenzy worries me. Consider me as a type of care in the bulletin board community. Just trying to make others aware that following unbalanced posts such as PP’s should come with a wealth warning. That’s all! Anyway, back to my sunbed, Yamas!

Imagine, making an investment based on nextology! Anymore pointless information?