Asa Resource Share Discussion Threads

[nomz] 07/10/2021 21:36

I sincerely doubt it. They failed to pay the annual licence fees, and it was reported long ago that the licences had been rescinded. It does show how much they could have got though, had the company not been been managed by complete buffoons

[casabella2] 07/10/2021 15:47

Would any of this put monies into ASA bank account.

[nomz] 07/10/2021 00:20

hXXps://www.kitco.com/news/2021-09-28/Central-African-Gold-to-acquire-60-stake-in-2Moz-DRC-gold-project-for-55-million.html

I wonder who the arm's length agreement is with? I'm assuming a government entity

[plasybryn] 14/9/2021 21:52

Any progress?

[plasybryn] 09/9/2021 17:16

Rich Pro Investments Ltd.,HeadquartersAkara Building,24 De Castro Street,Wickhams Cay I, Road Town,Road Town, Tortola

[skidaddle] 09/9/2021 17:02

Perhaps they are RIP now.

[plasybryn] 09/9/2021 16:47

Perhaps we should try and contact RPI

[casabella2] 09/9/2021 16:28

Sorry ,yes of course. Told you bit thick. Surely RPI would want to make something out of this and not just be majority shareholders of nothing.

[gpgreen] 09/9/2021 12:48

RPI is Rich Pro Investments. The company that offered the 2.1p. In an effort to stop RPI taking over the directors called in the administrators but not before RPI declared themselves the majority share holder if I remember correctly.

[casabella2] 09/9/2021 09:05

Sorry. Bit thick, RPI?

[gpgreen] 08/9/2021 15:51

I would have thought that Dearing would have had to consult with RPI as to what happens next. I am sure they now have a controlling share of what remains.

[braid] 05/9/2021 10:50

Overall, there is a distinct lack of hard facts and figures. As a group, we need to push IBD to reveal these. The first step is he needs to set up a line of communication with shareholders, then start reporting every 3/6 months etc with exactly what we have and where do we plan to go. I think we all need to push on the first point ie: setting up a page (cheaply)that notifies us of developments. I'll email him this weak emphasising this point and it would be great if others did likewise post 69 has his email address that I have been using.

[iamald] 04/9/2021 20:00

Apropos my last thought, I sent an email:
I enquired about the status of our assets.
I don't think Mr Dearing will mind me quoting him: "Some of the entities are “working”;; others are not”.
Slim hopes?

[iamald] 02/9/2021 23:04

Plas - I think we all regret not accepting - I was in small profit, but we all knew 4/6p was nearer the value. One question - are any of the remaining resources actually working? It sounds as if there is more than a fire sale left, or is my optimism just refusing to die... :-)
Add my thanks to Braid, well done.

[plasybryn] 02/9/2021 19:18

Well done braid. A lot more information than I managed to get.But pretty depressing stuff. Why didn't I take the cash offer when it was on the table? Grrr

[braid] 02/9/2021 16:53

Below is the response I received from Barry Dearing, yesterday. He has given me permission to pass it on to shareholders. I am not happy with some of the answers, but I do consider it a significant step forward (at least in knowledge terms) from where we were. Personally, and I've emailed this to him, I think we should all push for what he mentions in the second last paragraph: 1. A general meeting 2. Onine updates (preferable quarterly). Anyway, you can all reach your own conclusions and it will be interesting to read your views.

Dear ...

I am sorry that my lack of speed is discouraging to you.

I am unable to give specific answers to all the questions which you pose simply because, in part, I do not have the information and in other part because of what is termed commercial sensitivity.


1. How much money was returned when ASA Resources came out of administration last year?
The balance of monies held by the Joint Administrators was released to the company but I do not have the exact figure.


2. How much money does the company currently have?
I do not have the exact figure but it is likely a little less than was passed across.

3. Where is the money being held?
I am not at liberty to disclose this information as it is commercially sensitive.

4. What plans are in place for this money?
Discharge of the outstanding obligations of the company and to further its objectives in the interests of all stakeholders- including shareholders.

5. Ultimately, is the intention to return what value is left to the shareholders?
There is no plan to effect any immediate return of company funds to shareholders.


The position of the directors is that efforts are continuing to ascertain and assess the interests of the company, through its several subsidiary companies, to determine the extent to which there is a future value ultimately for shareholders in them.

As you will appreciate the Joint Administrators were not concerned to maintain the subsidiary companies in good standing nor were they concerned to discharge liabilities arising in relation to them.

In consequence of this serious attention is being given to the major subsidiary interest in relation to the Zani Kodo exploration prospect upon which I understand that amounts varying from US$50-60 million have been expended, over the years, by the Group.

Significant steps have been taken to make progress in Democratic Republic of Congo in relation to this interest where the public health, pandemic and political influences and restrictions have not assisted in a speedy resolution.

I do not bore you with the challenges faced by the return of the company by the administrators without preparation by the board in advance and ongoing assistance from the joint administrators who took control of all of the papers and information.

As you will be aware from the Joint Administrators Reports I did seek to obtain cooperation and information from the Joint Administrators to enable the board to take preparatory steps before exit but that was not given voluntarily and an application by me in that behalf to the court was vigorously opposed by the Joint Administrators and rejected by the Court.

I am sorry if this information is not all that you would like to have.

It is not all that I would like you, and all other shareholders, to have and am even now in discussions with the board about getting outstanding accounts resolved, organisation of a website for dissemination of information and arranging a general meeting which is long overdue.

I may assure you that the principal objective of the Board is to retain and increase value for all shareholders.


Kind Regards

Ian B Dearing

Director Asa Resource Group plc

[casabella2] 01/9/2021 22:27

Spot on braid. Like it.

[plasybryn] 01/9/2021 19:25

Well done braid - very much appreciated.

[braid] 01/9/2021 19:06

Evening all, after some arm twisting I have had a response from Ian Dearing. It is mostly positive (or certainly appears so and within the realms of the shambles that is ASA). I have just sent him another email asking if it's ok to share his response with others (I can't see why not), but I will pay him the courtesy of allowing him to respond. Unless he objects, I'll post it tomorrow evening.

[casabella2] 28/8/2021 09:47

I'm in here for some big money and appreciate the work you guys are doing. Now i know the email address i will mail Dearing aswell.Dont think all is lost.

[braid] 27/8/2021 20:48

Thanks, Plasybryn. Happy with the response you gave. We are all trying to just get some value back from our investments. As I've repeated, I'll keep pressing Dearing until I get answers. Then we'll see where that takes us. We all know this has been a scandalous rip off from the beginning, but let's hope not to the end

[plasybryn] 27/8/2021 19:22

braid: Hope you don't mind, but I've sent you a private message.

[braid] 27/8/2021 16:38

Sorry for not posting earlier - problems with ADVFN. I have yet to get a further response from Ian B Dearing. However, I will not give up on this. Plasybryn, you mention that you had a response from the co, and give it. Can you give a bit more detail on how/where/who gave you this response? This might help to convince those that are sceptical of what you have posted. Thanks, Braid