Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks Looed. Are these docs all in advance of the trial on Friday? Or is it all kicking off earlier than that?
I thought it interesting that YA had accepted equity in FRR in lieu of money owed. What percentage I wonder? And it also referenced a Georgian financial official for Frontera - I wonder if he is still with us or has since left us.
So whatâs the chance that we are going to hear something from the company directly after the YA case has been completed, on or soon after the 6th October?
It would be lovely to finally hear that we are about to get some real hard cash back into our bank accounts. Am I expecting too much?
Thanks for the clarification Looed.
Oh well, my theory sounded good in my mind, even if it wasnât true!
It would be interesting if Mourant know from their discussions with the FRR team that money is coming Zazaâs way due to his shares in FRR - that might explain why they are happy to take only a chunk of the money owed to them from SN, safe in the knowledge that theyâll get the rest laterâŚ.
Thanks for this news Looed. This is, from memory, the details of the settlement that you outlined for us a month or so ago. Interestingly SN has agreed to pay a considerable sum to settle this case. Surely he would only do that if he knew money was coming to him further down the road due to some agreement to sell our assets. This may indeed be good news but as ever, we await formal notification. Iâm hoping that once the YA case has completed, the company will then be in a position to talk to us all again.
Thanks once again for all your efforts Looed. It is much appreciated.
Thanks Looed
At least it sounds as if weâll get a result to this court case fairly quickly. It would be better if we knew that a positive outcome would then lead to genuine news for shareholders. Surely they are not intending to keep us all waiting for yet another yearâŚ
Looed
Do we know for how long the YA trial is scheduled to take place?
Thanks
Cheers for your swift response Looed. Re the company, thatâs what I thought. It certainly always takes me forever differentiating between our version and Zazaâs version of Frontera, so I can see why youâve started to just say the company đđť.
And yes, slowly, slowly, we do seem to be getting near to the end. Whether weâll be happy with result, remains to be seen, but I do draw consolation from the efforts being made.
So the Mourant Case is closed - good news. Another one chalked off đ. And YA make a new move, a last desperate attempt to have their foreign judgement recognised. Hopefully the judge will continue to agree with Frontera. Thanks Looed. We seem to be moving closer to a result here.
On a separate question, can I ask why you now almost always refer to our Frontera as âthe companyâ? Is this to avoid confusion between our Frontera and Zazaâs Frontera ?, or has âthe companyâ asked you to do so? No problem if you canât answer this - it just struck me this evening for the first time as something relatively newđ.
Thanks Looed. I very much have all my fingers and toes crossed.
Looed- are you expecting a flurry of court docs before Mondayâs court case?
Well said Pyro. Whilst instinctively one would struggle to disagree with what Ziggyzag has said, the reality is that FRR caught YA conducting underhand and from memory allegedly illegal dealings to the detriment of Frontera and by extension for all of us.
So I have no sympathy for YA whatsoever.
Thanks for the update Looed.
This appears to smack of desperation on the part of YA. Is that how you read it Looed?
Thanks Looed. That confirms where I thought we were and what I suspected were your reasons for looking at other companies. With any luck we should get some movement from them soon.
Looed
Thanks again for your continued efforts on this. With regard to your recent request for similar companies in similar situations to us, are you encountering resistance from FRR to regular updates or merely trying to ascertain what to expect when they are finally able to communicate? Or have we already passed the point by which time you had expected them to talk to us directly?
Asking for a friend đ
Thanks Looed and Jim for sharing.
I have always taken solace from the fact that those running the company were spending a lot of time and money keeping the company alive. It suggests that there is something worth saving and they believe that they are likely to be successful. And I agree with Looed that given that we were in court with YA on Monday, the fact that they have since emailed Looed and Jim in such a relatively upbeat and positive fashion suggests that Monday was nothing to be worried about. With any luck, they are right that things will be sorted in the near future đ.
Thanks for your detailed reply Looed (and also for support Lifeishard). Fingers crossed, they will speak to us all soon and hopefully with something genuinely positive. I think all Looedâs hard work at least deserves that.
How slim is slim Looed?
Nogamble
Looed posted this following on 22nd June:
â YA II v FRC â Motion to Appoint Receiver looks to be set for 10/07/23, which is the date requested by YA II, though the FRC requested date of 14/08/23 also remains on the docket. â.
So going on Looedâs post, it looks like itâs on Monday.
Great post Phil