"I hate to say that the history of FML proves your very wise view for this share, long time ago, you warned people here."
I'm afraid that this company had the hallmarks of munter status written clearly all over it for years, if only people had chosen to see them. The 'big man' at the top, the 'massive resource', the 'world class' BoD (that always has the warning klaxon up here beside me on the flybridge squawking loudly), the Cayman Islands yadda yadda. George Cole on the executive team was the icing on the cake.
I got a liquidation letter from the Cayman Islands (!!) and filled in the form with a copy of my share certificate. I got the following reply. Basically - written off :-(
"Frontier Mining Ltd. (in Official Liquidation) (the Company)
Thank you for your email. I can confirm that the share register provided to us by the Companys Directors concurs with the shareholding noted on your proof of debt form.
In accordance with Order 8, Rule 1 of The Companies Winding Up Rules, the liquidators current determination is that the Company is insolvent; therefore, there will be no recoveries available to shareholders. Should this determination change, the liquidators will issue a notice of this to all shareholders."
Haven't visited here for 2-3 years. See the posts here now. Very sad for those PIs lost lots hard earning savings, and destroyed lots dreams. Specially for those who have been so dedicated to this co and its shares. They are nice people.
I hate to say that the history of FML proves your very wise view for this share, long time ago, you warned people here.
The Administrator acts primarily in the interest of creditors. Shareholders are the last class of creditor to receive a distribution and they will only receive a distribution after everyone else has been paid in full. So, in a nutshell, the process for you is very simple. Do nothing, expect nothing because you will get nothing and forget everything.
I called my broker to ask if a corporate action should be received from FML informing shareholders officially of the liquidation and they didn't know. I'm wondering what to do here, does anyone know the process?
Seems to be in accessible today.. maybe a major update, new website? Ha
Could do with a new website, update on production/partner/sale would be nice. Maybe in dream world but hanging on to a little bit of hope, bought 1.7 million of these on the last day for 500 quid punt ;-)
So, I've read back a bit & agree that we appear to have been stuffed.
But I'm guessing that I have invested into bits of equipment - maybe I should try & contact an explosives expert so that I can blow up the little crucial bits that I "own" and stop the fly boys with funny eyes from reaping too many benefits ?????
I see a guy stating he has 200k shares of FML - beats my 150k, but I also saw (I think ?) a comment that FML are still in business - is this true ?? Have we been the victims of some oligarch stitch up somewhere ? or is mining & processing still ongoing ??
No, not tried, as they are unlikely to know much about what FML are doing.
Just my personal opinion, but I believe things are not as bleak as many believe.
News coming out from the company was very short on detail & (in my opinion) misleading.
The photographic evidence posted on the FML website, suggests better production prospects than any written info they posted.
I have got 200,000 of these pups.
Can't even get a reply off broker who is supposed to be acting as market maker. It seems to be dead in the water.
However, there were still director buys 12 months ago - so it does make you wonder, did they get skinned also ?
If anybody has any further info regarding the price marcher it would be appreciated if you could share it.
Ok so what we have is Norbie / Cyclops to get investors IN
GG, RAFT, LK the Derampers to get shares back, well I am looking for £250k Return on my investment over 5 years , So GG if you need to make me an offer for my shares, please get InTouch soon or the price might go up !!
I'm concluding that in the absence of any new information you have resorted to considering the removal of data as a form of new data? Very good, an interesting outlook. Not one that I personally intend to adopt any time soon mind you. Isn't it time to get over all this denial thing and move on. The undeniable truth is that you've done your money, as they say, and you won't be getting any new information of any description at any time. Ever.
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.