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What safeguards are in place to prevent the BOD stripping out the remaining cash ?

I think the SP shows a fundamental lack of trust in the BOD to deliver a workable MVL without stripping out the cash/assets.

With 80% of the shareholders voting for the MVL, Why will it take 2-3 months to get to another meeting to get shareholders permission on the liquidators.

Judging by the fact the share price has not moved, can it be assumed that the 1.2p is just not going to be a reality?

If there was a real expectation that there was going to be a 1.2p return surely there would be frantic buying and the price would be rising significantly.

Even with those questions I would have expected to have seen some movement in the SP, probably downwards.

Can someone with a greater knowledge explain why there has been no movement in the SP?

Surely based on the results of the votes the shares are either worth a quoted and very optimistic 1.2p or a pesimitic 0p?

At last....light at the end of the tunnel.

Will they suspend trading now?

I tried to top but trade not going through,,,,, no shares available?

What date are we expecting the vote?

How long will the BOD have to act on any potential outcome?

And for argument sake, if the vote was to return cash to shareholders how long do the BOD have to act starting payments?

I am aware any potential return of cash would be phased and is contingent of third payment payments.

Could we see the process getting drawn out and cash funds being degraded by operating costs, salaries, "consultancy" costs etc

CP, fully agree, reality is that this is being pushed as massive news but the market has hardly blinked, still a long way off the 12 month high and if there is not a consistent progress in news then history has shown it will take another downward dip before it goes up..... a opportunity for some, frustration of others,,,,... but this is a long game...... and hopefully can eventually offset the SOLO debacle

Well if it really flies.....a new yacht in Greece...

I am also a LTH, unfortunately the SP reflects the risk that is still inherent in any operation in Tanzania and the lack of willingness for the institutional investors to accept that risk.

Whilst the presence of great resource may be now be a higher degree of certainly the political and institutional system in TZ will always present a high degree of uncertainty, i've worked in the industry in TZ and there the hurdles are many and large and they have a nasty habit of moving just as you think your have jumped them.

We need all the boxes ticked (especially the licence) before this becomes less of a hopeful gamble and more of an investment.

In my opinion I do really hope and feel this is going to come good, its got to go a little distance before its back in profit for me, but it is part of a wider balanced portfolio so I am happy to wait it out and take the risk..... For me im looking at a really good top end of 4p at which point the decision is a new Porsche or an old yacht......

GLA

Well, after 5 years in this share its probably time to call an end to the debacle and the consistent burning of cash and bad management.

Just voted to return what's left to the share holders.

LTH, 50% down on a few million shares. The BOD has led the company into hole and it seems like they have found a financial ladder for themselves which does nothing for shareholders or the long term viability of the company. With the interest in TZ gas assets there was a faint light at the end of the tunnel for LTH. Giving that away finally kills off this share. Let’s see if the BOD take the cash and run.
If there is a vote against the BOD I will be on board.