Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Did anyone get a copy of the loan note from the website? It likely has fees and rights that have not been fully disclosed.
Also, has anyone worked out if there is outstanding conversion from Riverfart?
It is perhaps unsurprising that this survival funding couldn’t be a friendly note from existing brokers or directors.
This is very strange indeed.
Looking at the latest RNS and the RNS of 18th Nov, where Rolf states that if Rocco was interested in 20% or greater stake then the transaction (with BritENERGY?) would have required MNRG shareholder approval - then why not simply put the case to shareholders NOW rather than spend massive shareholders money on a a legal battle to what end - to simply reverse a transaction?
Surely the BritNRG shares are worth more now than in April because production has more than doubled to 4000 barrels
or more £250k per month? They are cashed up to fight this?
A while ago I spoke to his old chums at cobra, from where he was unceremoniously dumped, apparently not just because he can be pain in the butt but also because he always puts his own interests above everything else - wants to be in charge - thinks he has the right answers.
Well here we are again Rolf. Do the right thing and put this decision to shareholders or face the music that once again you are putting your fragile pride above MNRG shareholder interests and a terminal crash of the business.
I also want to know where the lawyers where when you signed the agreements. Shocking incompetence.
Finally some colour on the most awaited divorce since the great matter of Henry VIII. Rolf certainly looks like he is on a winner and could end up with control of beautiful Brit Boleyn after all. Just a question of whether Ruthless Rolf IX can afford it after the recent costly wars and with £150k headroom today, no income in 2022 and results due before new headroom opens up in May (only £500k at current price). He must be selling something imminently to pay the bill or the decisive block awaits - not sure they’ll be any blood left though.
Unless I’m more stupid than I thought the recent stockpot interview is telling us that Rolf is betting MNRG shareholder’s money on a micro-pipeline of pension fund returns (that don’t pay the bills) so that Palomba can play with Yoel Picasso and his amazing gas chamber??
It is very strange.
Rolf is probably a good guy who has made some bad decisions in day to day business. Rico seems like he has all the arguments. This is a massive governance failure and the chair should wake up after being named in the Panama Papers and take a stand for the benefit of shareholders.
Christopher Latilla-Campbell, the non-executive Chairman, leads the Board and is responsible for the effective performance of the Board through control of the Board's agendas and the running of its meetings at which through the review of management reports and discussion of the Group's performance can be regularly monitored. Christopher Latilla-Campbell, in his capacity as non-executive Chairman, also has overall responsibility for the corporate governance of the Company.
Wow math is not my strong point but more than half
of the 1.2p lunatic buy is an indirect punt on cosmic uranium (bit like an indirect free kick on your own penalty spot with a flat ball when the match is already over 0-10) and two miracle replications of an ingenious un-eco money burning scheme with a free holiday apartment. This rot is something to special ugh?
Some perhaps irrelevant research.
Wondering what happened with the advice that forms part of a successful PLC transaction such as the oil deal that would normally favour the bigger player?
Is this the advisor?
https://www.share-talk.com/metalnrg-plc-lonmnrg-covid-19-business-impact/#gs.lkij5w
Dis they give advice? If so……
It seems similar advisors have been embroiled in a (similar?) mess with loan note advice and director fall out.
https://www.rollonfriday.com/news-content/morrison-foerster-sued-former-client-ps15-million
??
A relaxing bedtime fairytale. The latest chapter is more Grimm than Hans CA. You have to love the paragraph where Rotten Rolf laments that the big-bad-mine is far too big to deliver cash anytime soon. That’s the point where we little ones wipe our heavy eyelids and drift into sparkly wonderland and can’t wait for the next fantasy moment.
Envisage sub 16p before 2021 year end with little sign of contracts delivering profit anytime soon, which of course would mean that John will have breached the magic 90% destruction level of the early 2019 SP before Ginger-puss boiled up the Kroyden Kitten to take the velvet cushion. Marvellous performance!
Staley well into his second year has still has not installed the necessary independent corporate governance to hold the board to account. Loffy’s (impressive on paper) personal debt facility has done nothing to improve the business performance - totally unexplained why? Time for another virtuous shareholder revolt.
Trice retired street fighter Rotten Rolf, toothless, swollen and blooded, hanging on ropes, gloves to canvas, releases a lazy grab to the groin. Rocco Stallone, eyes bulging, brains pouring from ear, airs a decisive upper cut.
Referee Calamitous L Campbell wobbly as a one leg stool, impotent in proceedings. Ringside punter Kristani the Unpronounceable clutching his each way bet slip.
Excruciating Investors are bored senseless. Ding ding……
Nothing on Brit. Bucket and spade time in Arizona. Nothing on Italian job other than Plant was due to be fully recommissioned and operational by Q2 2022 but the latest just say recommissioned so no cash next year. EGM Spencers?