Neos Resources Share Discussion Threads

[webster is back] 06/3/2015 15:58

So does anybody think there is any hope of a relisting?

[jojo_jo] 06/3/2015 14:27

Apparently they were very close to an RTO just prior to de-listing, but it was scuppered by Myserson/Principle Capital wanting to remain on the register, which in turn made it unpalatable to the LSE/Takeover Panel. The LSE don't appear to want the Mysersons anywhere near the UK Stock Exchange!

IMPO DYOR NAI
Jo

[godolphin] 02/3/2015 10:54

I see Thomson has an investment company with a small office in South Africa.



Looks like it's just getting going. Website controlled by Atomaer.

[jojo_jo] 01/3/2015 19:51

G1g4lo,

Having spoken to Traynor, you are clearly better informed than any of us here.
Your valuable input is greatly appreciated.

It was always speculated that an existing Biofuel business would be reversed into Neos, with Myserson's Mozambique project being the frontrunner.

Whilst the c/f tax losses are Neos' biggest asset, it is not a given that they can be used by a reversing company. Firstly the reversing co. has to be making taxable profits. Secondly it has to be allowed to file all/most of its profits in the UK (rather than partly in the country of operation). Then there are UK tax rule hoops to jump through. Foremost of these is the continuation of like trade requirement ('wholesale of other fuels'/'activities of head offices'). There are also other things such as 'continuity of active operation' (to stop dormants/shells from abusing the concession).

Obviously the biggest biofuel plantations are in Africa, so this is where such a reversing company is likely to come from. That said, as many of these are early stage and years from profits, a UK 'cooking fat converter' or similar may be a better potential bet.

I'm not sure if ATOMAER (the apparent top tier Aussie company here) has any Oil/Gas operations which could utilise the tax losses, but I guess not. It is they who are covering life support (website, companies house filings/penalties, etc) which begs the question why.

Reading between the lines I assume Myerson frittered most of the residual cash away on expenses, wages, etc, under the cloak provided by unlisted status. I'm not sure if the £90k due for repatriation from India has arrived back.

There may be a little more clarity when statutory annual accounts are filed later this month.

The only realistic hope is the reversal of a profitable 'other fuels' company, unless there are savings to be had in re-listing rather than undertaking a scratch IPO.

Hopefully a suitable, growing, profitable company can be found in the coming months.

IMPO DYOR NAI
Jo

[webster is back] 28/2/2015 08:24

So is there still hope for NEOS?

[g1g4lo] 28/2/2015 08:04

Webster

My fault, my point was that clearly the company has to be uk based but will be operating in Africa. That is the most likely area from the discussions I had.

[webster is back] 27/2/2015 14:26

G1g4lo

Your research is appreciated by those who have posted on this BB this year.

Curious to know on what basis do you say "The suitor is likely to be from Africa"

This is a rather specific statement.

[g1g4lo] 27/2/2015 11:47

If you look at my posts 6337and 6339.

I have spoken to Mr Traynor and there is no link and will be no link between NEOS and Ausinox. If people do their own research, they would find out themselves. He is the lawyer and the registered address is common as some one has to be a director or secretary to sort the legalities out. These will change in due course.

NEOS has to stay in the bio-fuels industry and will not be in mining to utilise the tax losses.

I have also spoken to Mr Tainton and Australia is not on the agenda for NEOS.

Firstly, the finances have to be sorted out as Nicholas Myerson resigned and they found he had wasted money trying to get a few RTOs sorted and now NEOS has to sort the finances out first which will go into probably Q3. Only then can they look for a reverse takeover suitor. The suitor is likely to be from Africa

I have tried to inform this board from my discussions with Mr Traynor and Mr Tainton and gave a brief overview of our discussion and straight from the horses mouth.

In the future, I feel it best for me to keep my research and discussions to myself as clearly my posts are ignored. Keep on with your ifs buts and wherefores.

Adios from a large investor

[godolphin] 27/2/2015 10:31

We're wishfully thinking that the same people who are doing the deal with Ausinox will come up with something for Neos, either related or not.
They've certainly made changes at Neos and the associated companies - given that Neos had little cash then they must be planning something. I mean they could have just set up Ausinox and left Neos to rot.

[shale2] 27/2/2015 08:22

Is there still life in NEOS?

Realise common directors with Ausinox Plc, but how could NEOS become involved so that they may be relisted.

[woodcoffee] 27/2/2015 07:31

Great pity that company have not kept website up to date.
Anybody know if Fincapp (Nomad) are still involved with Neos?

[jojo_jo] 26/2/2015 13:09

Actually I think we could know well before the end of March (Next Late Accounts Deadline) if the element of secrecy is to be maintained - so literally 'any day'.

A decent m/cap at any relist of the company would be good news.

Jo

[godolphin] 26/2/2015 07:49

It's a lot to take on and Dragon must be happy about it. Who's financing it and why?
edit - Sorry hadn't seen that they now have full agreement to development their tenenments. So that explains the why! lol.

[whoppy] 25/2/2015 23:30

Maybe something will happen on the 28th. How can Ausinox pay out $1m and take on $3m+ in debt for the 39.9% in Weld?

[jojo_jo] 25/2/2015 22:21

There appears to be life in the old dog yet! There's way too much corporate activity of late.

I think we may know a bit more just after the next results deadline on 31/03/2015.

Jo

[osborne3] 25/2/2015 20:50

Jo

"I also know for a fact that the directors have been looking at various business opportunities they can undertake to the get the company back on the boards and trading again."

Do you seriously believe that Neos may be relisted this year or is it just wishful thinking?

That is why I asked you earlier if you had been in contact with someone connected to NEOS.

[jojo_jo] 25/2/2015 20:21

osborne,
I think they'd expect some of us NEOS PIs to be aware of them, as they use the same Reg.Office as Neos and have overlapping Directors.

Key Data
Company Name Ausinox Plc
Status Active
Category Public Limited Company
Company Number 09145944
Registered Address

Third Floor
55 Gower Street
London
WC1E 6HQ

Country Origin United Kingdom
Incorporation Date 24 July 2014
Company Age 7 months



-------------------------------------------------------------------


I also know for a fact that the directors have been looking at various business opportunities they can undertake to the get the company back on the boards and trading again.

Jo

PS. Just noticed... they actually registered as a PLC rather than a standard Ltd Co.

[jojo_jo] 25/2/2015 20:07

I guess Atomaer are ultimately behind everything, mostly moving money sideways and cleaning things up it seems.
There seems to be a fair bit of cash available.
Best guess is some kind of dual listing on AIM/ASX.

If they can't use the tax losses (or don't want to) they may be happy with a clean AIM shell, in which case the Myersons (Principal) may have sold their 25%. It would explain Nicholas Myerson's resignation. Teeling and the Flanagans may also possibly be out now.
It's hard to tell with a private company, as the Annual Return is not due for filing for a while.

I'd say it's generally promising, with an RTO of some Australian Co. the most likely prospect.

Jo

[godolphin] 25/2/2015 14:38

We don't know where the cash has come from to fund the transaction so it could just be normal financial regulations/money laundering etc.

[alfredpal] 25/2/2015 14:33

Nice to see some postings on this thread.

[whoppy] 25/2/2015 14:25

Ausinox aren't listed..wonder why they need UK regulatory approval?..lol

Maybe they need approval as a vehicle to reverse into NEOS and then relist.

Is that what we are looking at?

[osborne3] 25/2/2015 14:19

Jo
Have you ever been incontact with anybody associated with Ausinox.
I wonder if you mentioned NEOS what would be their reaction?

Good research

[jojo_jo] 25/2/2015 12:35

Update re Ausinox 'acquisition'....


ASX ANNOUNCEMENT 6 FEBRUARY 2015

UPDATE ON SALE OF INTEREST IN WELD RANGE METALS LIMITED

Further to its announcement on 2 January 2015, Dragon Mining Limited ("Dragon Mining" or "the Company") advises that it has agreed to extend the completion date for the Share Sale Agreement (“Agreement221;) executed with Ausinox plc (“Ausinox̶1;) to sell the Company’s 39.95% interest in Weld Range Metals Limited (“Weld Range”), the owner of the Weld Range Project that is located in the Mid-West region of Western Australia from 31 January 2015 to 28 February 2015 to enable Ausinox to obtain required UK regulatory approvals.

Pursuant to the Agreement, Ausinox will buy 10,311,834 Weld Range shares from Dragon Mining. In addition, the debt Weld Range currently owes to Dragon Mining of $3,791,046.29, comprising principal and accrued interest as at 30 June 2014 (‘Debt”), will be assigned to Ausinox. Consideration payable to Dragon Mining by Ausinox pursuant to the Agreement is A$1 million.

The Company will update on progress in due course.

For and on behalf of
Dragon Mining Limited

----------------------------------------------------------------------------

This line is interesting:

"...to enable Ausinox to obtain required UK regulatory approvals."


Jo

[jojo_jo] 25/2/2015 11:39

We should know more on, or just after 31/03/2015, the next late account filing deadline.

Jo

[jojo_jo] 24/2/2015 23:23

It's certainly getting interesting. There are some sizeable assets involved in theses various interlinked Aussie companies.

Jo