Celsius Resources Share Discussion Threads

[bsdjj] 02/10/2006 20:17

Hmmm £1.25m left. Not really going to go very far. Might as well have a knees up for the shareholders with it!! At least would get some enjoyment out of it.

[mbugger] 02/10/2006 18:34

What ashower of wasters,could not invest in anything after 20 monthes,an empty shell.

[mirandaj] 02/10/2006 18:20

RNS Number:8331J Cordillera Resources PLC 02 October 2006

2 October, 2006



CORDILLERA RESOURCES PLC


("Cordillera" or the "Company")
Statement re Suspension


Following the termination of the Share Purchase Agreement to acquire Continental Petroleum Limited on 21 June 2006, Cordillera was granted an extension by AIM allowing the Company to remain suspended until 2 October 2006.

Subsequent to the withdrawal from this transaction the Company's Directors have evaluated several other investment opportunities. However, due to being unable to perform satisfactory due diligence or as a result of the projects being at a stage that did not suit the Company's strategy, it has not been possible to complete a transaction within the required timeframe. As a result, it is envisaged that trading in the Company's shares on AIM will be cancelled at the start of business on 3 October 2006.

Since admission of the Company's shares to AIM, the Directors and Management of the Company have made a concerted effort to preserve shareholders funds with approximately #1.25 million in cash being available for investment.

The Directors of Cordillera remain strongly committed to the Company and are currently reviewing several potential opportunities which they believe are suitable for investment and that will provide significant value for shareholders with the ultimate intention being to seek re-admission to AIM when an appropriate investment has been made.

Contact Details


Mr Colin Orr Ewing Mr Greg Kuenzel Mr Hugh Oram


Cordillera Resources Plc Cordillera Resources Plc Nabarro Wells & Co Limited
Chairman Director Nominated Advisor
[phone] [phone] [phone]

[maxp0w3r] 02/10/2006 18:03

whether the company did a reverse and readmitted after suspension or an admission, the cost is pretty much the same. Not ideal but could be worse I guess?

[rkjones] 02/10/2006 17:53

As we have not been able to trade the shares since last year, I don,t see what difference todays statement really makes. As shareholders we need to wait on their proposals and then reevaluate. The only issue I have is, at what cost is involved at relisting on AIM.

[mirandaj] 02/10/2006 17:17

Nothing else I am afraid.

[crab4t] 02/10/2006 16:29

Miranda, Any details to be added? TIA. Regards Crabby.

[mirandaj] 02/10/2006 16:13

I regret that I have had confirmation that Cordillera have been cancelled from AIM as from tomorrow - not that it makes any difference as they are suspended anyway.

[macansy77] 29/9/2006 16:58

jethr0 - i'll be watching out for every bloody company they try and float...

[jethr0] 29/9/2006 13:29

Watch out for the next company they float, it'll probably be called CONOLOGY!

[macansy77] 29/9/2006 10:58

how bloody long does it take to compose an RNS to the effect of...


"Sorry shareholders, we managed to blow your money over two years and come up with sod all - so now we're going to de-list and run off with what cash there is left."?

[jethr0] 27/9/2006 20:56

Well, I suppose the management have had a good run and done well out of it, even if the rest of us are left cursing ever gettting involved, I wouldn't say I can't afford to take the loss but it will take one helluva lot of good deals elsewhere to make it up, and you never really DO make it up! AIMHO

[macansy77] 27/9/2006 20:04

bombers - i've got 2m as well plus others I know who are in this...

returning cash is pretty pointless i agree but what I don't want to get a sniff of, is that we've been strung along all this time.



If I do, i'll be giving them more than just a hard time...

[molar] 27/9/2006 19:53

Well that significant cash balance the co had in July can be divided between its shareholders!

[crab4t] 27/9/2006 15:12

Dime Who"s your broker? Regards Crabby.

[rkjones] 27/9/2006 13:21

How come your broker is privy to this information but shareholders who enquire do not.

[dime] 27/9/2006 12:51

My broker tells me today that the deal is off and it is to be delisted. An egm is being called to decide whether to continue to get a deal or whether to distribute back to shareholders. Was busy when he rang and I didn't get to ask much but I am not sure where he got this info as I cannot see any RNS. Hasn't anyone else heard this? Looks a complete dead duck to me.

[jpuff] 22/9/2006 10:25

Thanks Crab4t, like you I am in a similar position

[crab4t] 21/9/2006 14:57

I share your concern regarding CLA"s bargaining position RKJ. However the CEO is seemingly confident of a "better than satisfactory" deal.(his words). In addition, I did express my frustration and disappointment with the lack of progress and inability to access funds invested in CLA (not inconsiderable in my case), whilst sympathising briefly Mr Orr-ewing quickly but firmly re-affirmed his confidence in providing a result Investors would be happy with. Regards Crabby.

[rkjones] 21/9/2006 11:32

Hopefully the CEO is in close communication with the AIM regulators who would not scupper the deal at the eleventh hour. What does disturb me is the fact that Cordillera are unlikely to be able to negotiate the best deal against this background of an imminent deregistration date. If I was considering selling my interests or part of my interests in some project nothing would hearten me more in the negotiation process than knowing that my prospective buyer/partner had his back to the wall.

[jethr0] 21/9/2006 10:35

Crabby, Thank you for the update, unfortunately I have become disillusioned over the time frame taken so far to achieve precisely nothing as yet, I wait in fervent hope of a salvage deal, deregistration as I see it would have no benefit for either AIM, CLA or indeed us, but AIM now have these rules in place and others possibly would view it as unfair that CLA "escape" dereg. AIMHO

[rob byf] 20/9/2006 10:14

Good update Crabby, thanks

[crab4t] 19/9/2006 16:26

Just had a brief phone conversation with CEO of Cordillera who gave me a slightly different picture! He tells me all the stops are being pulled out (they were in talks until 5am today) in an effort to complete before the October deadline. In any event he thinks that de-registration is highly unlikely as it would not achieve anything for AIM or CLA and hopes commonsense will prevail if there was to be an overrun on the completion of the deal. Fingers crossed, progress towards a deal within 2 weeks. Regards Crabby.