Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Of course, a 7 year licence is not long enough to recoup the company’s investment so what is going on ?
If B-2-0 is to be believed, we might get shares in FRUS. This, I believe, is a private company, so hard to sell shares.
Hope probably doesn't want shares in a delisted company that might be about to embark on further drilling. He wants his money now. He isn't going to get it. What we get maybe nothing or it may be some paper we can't sell.
I'm with you there, Abkaz. Even if I were to double my money, I think I'd rather have the last two years back.
EkXoc, it's hard to know how much dilution we are going to suffer. Our market cap was close to the debt. We have to assume a valuation has been put on the resource ('ore') and if it's a billion or above then dilution should be minimal. Georgians will be getting more than 50%.
Star, nothing would surprise me with this company.
Monkey, have Outrider been awarded shares in a newly restructured company as as a way of cancelling the loan notes? Is Zaza saying they can't have $35 million but they can have a stake in the new entity ? Is that what we will get? It all seems very precarious at the moment but information seems to be coming out fast.
Surely just a bad translation. Major deposit, major resource ?
Why the conciliatory tone towards Outrider. Is this just window-dressing ? "it is understandable that Outrider Management and other shareholders, including me, want to return this capital back to us." Outrider were never investors, they just bought debt. Zaza goes on to say their claim will probably not be met. It's not clear what his attitude is going to be to shareholders.
Business Media Georgia knows how to get hold of Zaza and get a response from him. If the restructured company is now a Georgian legal entity do we have any shares in it ? That’s the billion dollar question.
So Zaza is still the public face of the company in Georgia. The question is: which company? And do we have shares in it? Presumably Steve and Zaza hold the same kind of shares we do. Let’s hope they are not about to award themselves shares in a new entity.
... and no Levan.
All good points, Gipps. But what were those investor meetings all about? Zaza was trying to keep the share price high by building our confidence with colour brochures, slide shows and a visit by boy wonder fracker, Dustin Aro. He said he needed the company to reach $100 million market cap before the big investors would even look at us. He needed us to support the SP and then got exasperated when he realised that, no matter what he did to pump the shares, there were shorters around (seemingly with inside knowledge) to slam the price back down. What was the October meeting about? That one confused me. He and Levan had nothing new to say and then disappeared for a conference call without staying for the usual round of drinks. That seemed weird but I guess we all preferred to believe that they were dashing off to talk to BP rather than their lawyers. The only thing new about that October meeting was Zaza's reassurance that Frontera never entered a legal fight that it couldn't win. He seemed adamant. I was naive to be convinced by that. No one can predict the outcome of a legal battle. Of course, it's possible that some clandestine chicanery is still going on and we might come out of this with something but the evidence of the last two years does not appear to add up to a legal battle that we are winning. From the outside it looks like a long series of ever deepening losses. There's no Zaza, no website, possibly no company registration in the Caymans. Last glimmer of pie-in-the-sky hope is that it's always darkest before the dawn - but some evidence of our imminent resurrection would be better. GLA
Deletions seem to be happening at random now. Probably just over-protective administrators. Would be good to have something substantial to discuss. Approaching two years of this slow torture and we've gone from the Cayman Islands to speculating on the outcome of the Georgia elections. What a charade.
All quiet on the Frontera front. No website, no news in Georgia, nothing from Steve, nothing left to say on this forum. Are we disappearing forever ? If so, this has been a life-changing experience but not in the way many of us hoped for.
My missing post asked what Zaza was playing at ? Is he positioning himself in the media as a political pundit / influencer or is he still batting for FRR by maintaining a presence on an oppositional TV channel ? I also pointed out that one of the channels reporters was recently badly beaten up (allegedly) by Georgian Dream supporters .
Not sure why those posts have gone missing but this is the link to Zaza talking about the US elections:
https://www.facebook.com/TvMtavari/videos/333800164739431/
Good posts, EkXoc
We are all plucking theories out of the air but you outline a plausible scenario (amongst the many others on offer).
We've come a long a way from Dustin Aro's 'low-hanging fruit' and his gushing enthusiasm for our fracking potential while super majors were apparently hovering in the wings; to Justice Kawaley trying to bang heads together in the Caymans and later Steve Nicandros hiding behind the sofa in his Houston house with lawyers trying to serve notice on him. Now, we are without Zaza and hoping for the contortions of Georgian geopolitics to flex themselves in our favour. Wings and prayers come to mind. What a journey ! Can it really be that there is a rabbit in the bottom of Frontera's hat ? Is everything we have seen over the past two years just a legal game of chess ? Or corporate folly ? Even if there has been an invisible steering hand behind all this, there are no guarantees that it can steer us to victory. The Anaklia port consortium couldn't pull it off . Something has to give very soon but we all remain clueless as to what that will be. Glass most certainly close to empty but always ready to be surprised. GLA
Not sure if this interview makes me less or more worried about my investment. Who is Zaza really? What game is he playing? What happened to the gas and oil? He’s turned into Pompeo’s spokesman.