> All the big AIM fraud exposés
> 300 articles and podcasts a month
> Hot share tips
> Original investigations by our experienced team
> No ads, no click-bait, no auto-play videos
By Tom Winnifrith | Monday 16 April 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On Thursday I ran an article suggesting that the state oil company in Georgia was going to an International Arbitration court to take acreage back from Frontera Resources (FRR) - the company's morally bankrupt PR firm Yellow Jersey and disgraced dirty tricks specialising account executive Tim Thompson declined the chance to comment. Next up Frontera lied by twitter...
As you can see HERE, on Friday it issued a statement on "media speculation" saying there was no problem. Naturally its moronic shareholders took time off from tweeting homophobic abuse at me to celebrate. But it appears as if the company's Nomad, Cairn Financial, has forced it to tell the truth. Well done Liam Murray, I always knew you were a good guy at heart.
And thus, Frontera has now been forced to 'fess up via an RNS that my story was true.
It accepts that it has received "a request for arbitration from Georgian Oil and Gas Corporation and State Agency of Oil and Gas in respect to certain terms of the Company's production sharing contract in Georgia, however, the full statement of the case has not been submitted and the timings for any such hearing, should it occur, are unknown. "
Well let me help it... so far GO&G has nominated its judge for the panel so has Frontera and we just await an independent third judge to be confirmed and off we go. I suggest tyo you that Frontera knows an awful lot more than it is saying in this RNS. Natch it insists that it will prevail. Mandy Rice-Davies knew how to respond to that - younger readers do a google search.
Shares in Frontera are now down by 12% on the day at 0.495p. Remember they peaked at 150p+! But thanks to an endless stream of confetting issues there are now c15 billion worthless bits of paper in existence and the market cap is still almost £80 million. For a company that will inevitably pass the hat around again before long, with very questionable asset backing and which has now been shown up over the weekend as employing slam dunk liars, the valuation is a joke.
This remains a slam dunk sell. Any company that plays fast and loose with the truth in this way is uninvestable.
Never miss a story.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments are turned off for this article.
Search ShareProphets |
Stock market news |
Recent Comments |
Site by Everywhen