Setstone Share Discussion Threads

[doorway] 28/7/2005 12:47

theres a update....take a look.......

[bongo bwana] 27/7/2005 08:57

Will drop PB a line shortly John.

[johndavison] 27/7/2005 08:33

Cheers for that Davew28.

Anybody still asking the guys at the top how we are doing or are we sitting waiting for next year to arrive?

It would be nice to hear how things are progressing.

[doorway] 17/7/2005 18:32

a load of new shares were given out just after the name change to various people and companies.....guess this was a payment in sorts.so if diluted guess they wouldnt be happy unless they were the backers anyway.......just guessing im not that clued up on this sort of thing

[bongo bwana] 15/7/2005 12:08

Agreed Doorway but a lot depends on the totality of the fundraising involved.

[doorway] 15/7/2005 11:47

if this does come back it in my opinion would be above 10p.....could be anywhere above that,cant see it being less for a big working mine or mines.time will tell.....

[bsg] 12/7/2005 09:35

Yep 1.0 - 1.3

[sharecropper] 12/7/2005 09:09

It is pathetic. Talk about a lack of communication from the company. Can anyone recall what price it was suspended at?

[2nobby] 11/7/2005 17:11

All quiet on the Setstone Front??

[doorway] 08/7/2005 15:39

ok woke up again......still no other news....

[doorway] 17/6/2005 15:32

yeah good post.....i will have to go into hibernation

[rebtif10] 17/6/2005 08:29

Its good to hear some news again. Began to give up on this one as it went extra quiet - especially since Alwyn was no longer able to update. Thanks and it provides a ray of hope (although it still may be a long way off).

Fingers crossed.

[davew28] 16/6/2005 21:40

dried66

Many thanks for providing the update. I guessed that things were still moving in the backgrouund but it is a very complex process and I know that we are talking of some very substantial assets as well as the situation of being an unstable highly impoverished former Soviet state. It is essential that the Company acts with diligence.

Dave

[bongo bwana] 16/6/2005 20:45

One of the best posts Ive read since "Auntie Sandra" jilted me at the alter.

Sincerely appreciated effort D66 and keep up the good work.

[dried66] 16/6/2005 18:14

I spoke to Tony Hoskinson of Setstone a couple of days ago. I telephoned the number that Snoop kindly provided and was given a landline number, which failed, and so was then given a mobile number.

Tony Hoskinson was previously a director of Setstone and was re-appointed as a director in May of this year to drive this acquisition forward, taking this role over from Peter Burton, as I understand it, although Peter remains a director. Tony was very informative and told me that the deal is still alive and kicking. As previously posted by various authors on this board, there is a hell of a lot of red tape involved, in addition, they are dealing with members of a former Soviet state, who are naturally suspicious. Tony informed me that the deal will not be completed this side of October. He has ideas about employing an industry specialist from the UK to send over there once the deal has been done to get the mine working and to supervise operations for a while. In such a case, the company may not relist until next Spring but Tony feels that it may prove to be a worthwhile option.

I asked him whether he feels the deal will definitely happen. His answer was that Setstone do not want to be the ones to walk away from the negotiating table and that he will know within the next few weeks or so whether such a situation proves inevitable. Should this be the case, he advises that he is confident of finding another deal quite quickly. He is currently very frustrated but stated that the directors have made a commitment to bring the company back.

I understand from him that cash flow is not a problem and that the investors providing the funds during this period of non-activity are quite big-hitters.
From my own search of Companies House website, it appears that there have been quite a few issue of shares since suspension. Although this means dilution, hopefully completion of a deal and the added value will counter this effect.

As regards a relisting price, I asked a self-rhetorical question just for the record as it is impossible to comment. He agreed.

I do not feel that he was fobbing me off and he answered all of my questions during a 30 minute conversation. Tony's background is partly in the oil and mining sector but his main expertise is in buying shells, building them up and then selling them on at a profit.

I hope that the above reassures some of you with ever-dwindling hopes.

PS. Alwyn is still the company secretary but is currently acting purely as a consultant as he is tied up on other matters.

[maxharry] 16/6/2005 16:11

Doorway

Without news there is not much we can do but sit and wait.

The frustration comes when Stn has not posted any news since last Sept . This does not bow well for a company keeping its share holders informed.

The credibility of next month has gone . So apart from the old drivel we are putting on here their is not much else to say....

I do not now how envolved you are but i can reassure you their are plenty of us out there..

Some you win some you lose put it behind you and move on. If anything comes of this all well and good...

[doorway] 16/6/2005 15:31

well more time passes and still no news apart from the guessing of fellow board members.hate to say i told you so.but i now have had enough of the next month brigade...nothing personal.......sad holder

[rebtif10] 14/6/2005 10:53

Setstone blokey was Alwyn Davey who has apparently moved on to other projects. Peter Burton has details of his replacement or, possibly, Alwyn can provide them.

[snoopdoggywuff] 13/6/2005 16:42

Its 0207 4090890. That will get you to the Cambrian mining office. Just ask for the Setstone blokey. Not sure who it is now.

[dried66] 13/6/2005 14:10

Could someone please give me the number for the company secretary at Setstone. I can't seem to locate it from previous postings. Thank you.