looking forward to hearing some reasoned discussion on what has been happening today. I am not looking for hype one way or the other but there are people I do value hearing from, Devex and TOT along with some others. What I like is that they string some sentences together and make some reasoned judgements on what is happening rather than run hot and cold within nanoseconds. Interesting that they have yet to comment on the recent fireworks. Maybe because they feel time is needed to interpret and understand what is actually going on.
I commented earlier gordon, as did Devex, but I think everything has now got lost in the smoke. My advice would be to just focus on the last paragraph of the ruling and the amount of time which has elapsed since then. Everything else is just noise, but the company’s silence will end pretty soon imho.
Great post from regdik on ADVFN just now:
"Reading the judgement the judge seems a very reasonable and pragmatic person. The fact that we defaulted was a clear case to rule on. The judge made it clear that no one wins if FRR default and you should look for a OOC settlement and that the 2Mil is the ruling amount. It seems that by appealing FRR were looking for time to ensure the 180day EWT results were complete to satisfy the NY lender. Hence the RNS claiming were going to vigorously fight the 18th Dec ruling.
I think the stay was requested by FRR to allow everything to be tied down and loan backed plus an OOC agreement with Outrider to be agreed. Reading the ruling and especially the last words of the Judge (chapter 50) then if we are close this will be granted.
So where are we
Seems that everyone ITK knows that FRR are sitting on a prime asset
Hope has little chance of recovery if FRR fold as if Hope takes the company – ZaZa/SN lose so I see FRR defaulting to ensure Hope has nothing as GG will revoke the licence.
One thing is certain we are bystanders in this and nothing we can due until the fat lady finally sings. So I suggest that some on here stop making mischief or gloating and this only shows us the quality of the person you are – take a look in the mirror do you see someone to be proud of or the prick like the rest of us see."
Sorry regdik on LSE!!!
Brilliant post by regdik, I guess we now know the reason flow rates were not released to the market, the NY funders wanted a full 6 months of test data. If you were going to sink 60m into a company with Frontera’s history I’d want the same due diligence.
EWT at T39 started July 19th, this take us to Jan 19th 2019 for a full 6 months and right down to the wire. It seems possible that the NDA was with the NY funders, what is clear is that Hope was being kept at a distance from April onwards.
Good luck, the judge is right about Zaza being a gambler, let’s hope he now has a winning hand.
NY funders were the mysterious 3rd entity mentioned/slipped into the ‘edited’ interview many argued over perhaps?
Can you explain further please whobuys?
Zaza did an LSE interview and it’s alleged, he mentioned three majors and not two. Some then say the interview was edited with just two mentioned.
I don’t recall anything myself but several posters reported this.
cheers Fozzer understand it now.
Hi, I notice that a few folk have made reference to “the judgement” but I cannot find any link to the judgement itself. Can you, or anyone else following the story provide a link or point me in the right direction.
Zaza mentioned 3 majors…
Surely it was 5 ?
Have to say Regdik captures my view exactly. What we keep seeing are “screenshots” in time - but always well after the event
Yesterday’s paper referred to the court hearing on 18th December - nearly 2 months ago. The draft ruling was circulated on the 20th December - for the legal teams to comment.
The final ruling was circulated on January 22nd - so still 3 weeks ago. So in a nutshell the judge said to the opposing parties - on 18th December - this case “cries out for a commercial compromise”
The Term Sheet announcement re NY Financing was RNSd on 12th December - just 6 days before the hearing. And one thing I do know is that the Nomad was happy with the validation of that RNS because he had seen the documentation and was aware of the lenders credentials and background (just as he was on the NDA signatories, and earlier company claims that the Tarabani potential had been understated).
Why am I so sure? Because I picked up the phone and rang him.
The judge has been a very wise and reasonable man. If he finds out that he has been used by Zaza as a pawn in some cheap con trick to buy time he ain’t gonna be very happy.
Thanks for the response but I’m not sure the link works. I just get “This item might not exist or is no longer available”. Followed by “This item might have been deleted, expired or you might not have permission to view it. Contact the owner of this item for more information.”
Can you offer any help or advice?
Your naïvety is parallel to your ignorance which in turn is overshadowed by your vexatiousness. No wonder you are so bitter.
I suggest you hook up with RainbowRider over at LSE, he’ll tell you exactly what you want to hear.
Yellow Jersey have just raised their heads above the parapet just now on LSE with this advice!
New News…“Will be released as and when - we have nothing at the moment
Assume therefore they are still on-board!
That and the shame in his father’s eyes
See if this works (original clearly timed out)
Thanks Dev, it does.