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Leyshon Resources Share Discussion Threads
Showing 21226 to 21249 of 21250 messages
I'll contact Equiniti to see if they can transfer them out of Motley and then on to Computershare Oz.
captain james t kirk
|Could be good news but the way they were talking it may still drag on late into 2016 or even 2017|
|captain - the shares were transferred automatically by Selftrade (now Equiniti) on June 3rd 2015 and marked as 'Transfer Out' in my husband's portfolio. He then received communications from Computershare in Australia and we set up an online account with them so that we could keep an eye on LRL although, as I said before, we had more or less given up on it. Recently we had a communication with regard to the AGM and enclosing a form of proxy. That's all I can tell you but I hope that this helps.|
Have you transferred your shares to Computershare in Oz or are they still with a UK broker.
Mine are with Motley Fool and I'm now looking to get them over to Oz in readiness for a re listing.|
captain james t kirk
|That would be great news. My husband had these shares in his ISA and I had more or less written them off although we still receive communications from Computershare in Australia.|
|Could be good news then|
|"Settlement with Newmont paves way for ASX relisting"|
|noone make unsecured loans....
it smells, doesn't it??|
|I cannot believe the money was loaned with no security.
Mickey mouse would have done a better job than these clowns...|
I did get an email response this morning with the quarterly report attached.
As you say very little chance of repayment and overall not a good read. I'll c&p it here any way in case anyone may be interested...
29 January 2016
Quarterly Report December 2015
Leyshon Resources Limited (AIM/ASX: LRL) ("Leyshon" or the "Company") activities during the quarter
focused on simplifying the Company’s corporate structure which would ultimately enable the Company
to pursue an investment transaction, and seek re-listing on the Australian Securities Exchange (“ASX”).
As part of the Company’s restructuring and continuing focus on expenditure reduction, Leyshon has
been engaging with the key stakeholders in the Mt Leyshon mine site as it reviews the long term holding
of this legacy asset. At Mt Leyshon, the Company holds five Mining Licenses and an Environmental
Authority covering the historical mining operations which are now subject to long term rehabilitation.
The Company incurs significant costs associated with holding Mt Leyshon which cannot be relinquished
until rehabilitation is completed. A restructure will depend on a suitable arrangement being negotiated
with the stakeholders of the project to reduce the liabilities incurred by the Company. If this can be
successfully achieved, Leyshon would be a viable entity that can go through a recapitalization and listing
process. This process has taken some time given the scale of the project and number of stakeholders
involved, but the Company is hopeful of achieving a resolution in the near term.
ASX Suspension Update
The shares of Leyshon have been suspended from trading on the ASX since 14 July 2014. ASX policy, in
accordance with Chapter 12 of the Listing Rules, is to allow companies that have disposed of their main
undertakings a six-month period within which to satisfy ASX that the company has a sufficient level of
operations to justify continued quotation of the Company’s securities on the ASX. The Company was not
able to satisfy the ASX that it was in compliance with Chapter 12 and was suspended from trading on 14
The Company envisages that its shares will remain suspended on the ASX until such time as the
Company completes a transaction and seeks re-compliance for listing on the ASX.
International Tungsten Services Loan
In 2014, the Company provided an unsecured loan of US$620,000 to International Tungsten Services
Limited (“ITS”). The loan facility was provided to ITS for working capital under a Heads of Agreement for
the Company to acquire ITS’ advanced tungsten project in Korea, however the Company terminated the
Heads of Agreement in January 2015.
Under the terms of the loan facility, the aggregate loan balance of US$620,000 became due and payable
on 26 December 2015. ITS has advised the Company that they are continuing to experience financial
difficulties and do not expect to be able to make repayment in the near term.
Page 2 of 2
The loan was fully provided for in the Company’s financial accounts for the year ending 31 December
2014. The Company remains in touch with the directors of ITS and will seek repayment should their
financial position improve.
New Project Opportunities
The Company continues to review investment opportunities whilst its works through its corporate
restructuring initiatives, although none are at an advanced stage.
For further information please contact:
Leyshon Resources Limited
Corey Nolan – Non-Executive Director
Tel: +61 7 3221 7770
Leyshon Resources Limited held the following interests in exploration tenements at the end of the
quarter. There were no tenements acquired or disposed of during the quarter and no changes in the
beneficial interests held by the Company.
PROJECT BENEFICIAL INTEREST TENEMENT NAME
MOUNT LEYSHON 100% ML 1546 Golden Star
100% ML 10144 Mt Leyshon
100% ML 10148 Puddler Creek
100% ML 10172 Eastern Star
100% ML 10173 Southern Star|
You can see LRL's quarterly report for period ended 31 Dec 15 on the Australian Stock Exchange website. The report says loan not re paid and it looks like chances of re payment are very slim.|
I have emailed the company asking about the loan repayment - that was last week and no reply yet....|
|The $620,000 loan was due for repayment on 26th December.
Strange we haven't heard anything :)|
captain james t kirk
|My shares held with Selftrade have been transferred to the Australian registrar, Computershare Australia. Although they have a cheap dealing service, this is not available to non-Australian nationals. I've sent off an enquiry to E Trade Australia to discover whether I'd be able to open an account as a UK national. I also have a holding with Hargreaves Lansdown who say they will continue to hold the shares on my account, but will offer the services of an Australian broker if I wished to sell them. However, it would appear that this broker has a minimum commission of 200 Australian dollars (!) so I will continue trying to find a cheap Aussie broker. I'd be interested to hear if anyone else is trying to do the same. Maybe you've all given up hope of selling and are planning to decorate the walls of your toilets with the share certificates.|
|Thanks for the info.
|Thanks bobbie121 - interesting. Presumably the share certificates will be sent to our brokers (eg Selftrade) as mine are held in a nominee account?|
|I have spoken to the company in Australia and they have told me if and when the shares resist in Australia they will issue Australian share certificates to all holders of UK shares, so it's simply a matter of watching what happens to the Australian share listing .|
|I guess I'll have to ask my broker for a share certificate and then try to find an ozzie broker to lodge it with. Great. Simple. Thanks lrl.|
|Any reply please|
|Am I right in thinking that when this does delist we can pick up our share certificates from our broker which are currently held in crest and apply to computecentre to have our shares transferred into Australian shares and wait for the suspension to be lifted on ASX.
Does anybody know the next step|
|PA was true to his word: "I'll lose you half of your money".|
|len and lrl have well and truly been milked. So much for 'shareholder' value.|
|He already made millions out of LEN/LRL!|