Setstone Share Discussion Threads

[rebtif10] 18/8/2005 11:14

PS Forgot to post, at least we are keeping this thread going!!

[rebtif10] 18/8/2005 11:13

graham mine are held with tdw (STN and Energis). Maybe they need to have a clear out of old paperwork. Sorry I have wiped this off. I am annoyed that they cannot even be bothered to tell us about management changes. Hope their salaries drawn weren't too large.

Anyway, onto the next one!!

[graham99114] 18/8/2005 10:56

Rebtif10

looking for my energis certs - cos I'm going to put my STN certs in the same place

[johndavison] 10/8/2005 21:12

Where is NobbyGnome.....you still out there. Whats going on mate?

[rebtif10] 10/8/2005 10:50

graham, why are you looking for your energis certificates. Surely this is dead too?

There was somebody posting on here who has had telephone conversations with Peter Burton. If that person reads this, could you please call him and get an update from him. I wonder if it would be different to mine!!!

I am not happy with STN because until my conversation with Tony there was certainly some light as opposed to complete darkness and no communication whatsoever to shareholders. I believe we have the right to know what they are doing with are money. It is bad that they think they can treat us like this.

[graham99114] 08/8/2005 21:36

I think we are at a dead end here - that reminds me .... where are my Energis Certificates ?

[graham99114] 02/8/2005 19:19

take a look at ASD - Ive recovered my TWN losses 4 fold there and still promising more to come

[propane] 02/8/2005 14:20

Rebtif10, Regarding your request for a share tip, look at DGT, results are due out in 2/3 weeks and are known to be good.
Look at the DGT thread for all the info you need.
Regards.

[rebtif10] 02/8/2005 14:03

Tony talked about TWN and how that share is now worthless for quite sometime and then I stated I only got involved with STN.

[bongo bwana] 02/8/2005 11:05

Coming from the position(in 2003) of having written off my TWN/STN investment
(and that still gives me no comfort) the current haitus does not unduly concern me, yet.

PB has been very clear in everything that he can candidly advise (SE Rules preclude revelation on an individual basis and dealing with the cold war politburo like personalities and bureaucracy itself presents difficulties peculiar to that region).

Remember, STN needs to have title/license's to the mines and surrounding lands to be acquired. The region has recently begun to demonstrate signs of political instability which itself may present difficulties for the completion of the required transactions.

Financing institutions in London and perhaps even the World Bank would be loathe to invest/provide funds in a venture of questionable financial soundness.

I do believe at the moment that if STN manages to conclude the deal with the appropriate finances secured then they could hit the ground running with the apparently producing and existing assets.

[rebtif10] 02/8/2005 11:00

It was a hardgoing conversation with Tony yesterday to try and establish anything positive. At least, when speaking to Alwyn Davey he always seemed optimistic although there were always hurdles to overcome. In a way, I am under the impression that this is a dead donkey and I am not too happy because of previous info provided.
I am also sickened why they feel that it is unnecessary to report anything to shareholders. It is our money they are playing with and surely we have some right to know what is happening. Tony did make the comment that he had a lot of money invested and the last time I spoke to Alwyn when he was involved he said that he was hoping to make a lot of money. That all seems like a dream now.
An honest update would be appreciated. Maybe Peter Burton could do this on his return but I always find him extremely vague.

Any good share tips to make up the losses???!!!

[bongo bwana] 02/8/2005 09:30

I understand from a reliable source that PB is on a well earned holiday and will return to the fray later in the month - closer to mid month.

We can expect an update around that time.

I also understand that there is no problem with PB's email address.

[johndavison] 02/8/2005 09:27

Well I have to say, no surprise there. Being quiet for so long gave us a clue even though I hoped it was due to working hard to get the company back on the market. For me personally, this ones hurting.

We can only wait and see if the other t/o happens.

[rebtif10] 02/8/2005 07:39

davew28

When speaking with Tony Hoskinsons he said something about the mining company looking for funding in the City (London) but he said that he did not think anybody would provide it. Surely, if this is the case and they have no funds left, they will revert to Stn (although Tony did not say this)!!!

I also pressed the point that I felt the shareholders should be communicated with but he said there was no news to pass on. I will definitely call him at end of September just to see if anything has happen but I am afraid that after 16 months I hold very little hope. I am under the impression they did not really appreciate the red tape and beaureacracy (not good at spelling) involved in some of these countries!!!

[davew28] 01/8/2005 18:41

Rebtif,

Many thanks for spending the time to get an update and post it. The news certainly sounds less than promising especially given the number of positive updates we have had from the company (via various posters, myself included). Every time I have spoken to Alwyn Davey (Tony Hoskinsons predecessor)he has portrayed the situation as one that would always have a positive outcome. Do we have any ideas why things have soured? As I understood Gold is still being mined and Setstone are/were providing funding. I guess that is why they would be seeking recompense. You never know with these things and they can change, so here's hoping
dave

[rebtif10] 01/8/2005 17:50

Spoke to Tony Hoskinson who said roughly the following. Not good. Apparently, original transaction has only a 25% chance of happening. They have opened door to the other side and if it does not proceed they will take legal action to recover their investment in the mine. He also said that they will look for an alternative investment if this one does not happen and it will be a deal where they will have a better rapport with the other side. Things will not change very quickly although he said to call him at end of September for update and that he is working on it although does not feel much will happen during August.

I am afraid that I hold little hope for this share to come back and if it does, I don't think there will be any profit unless something extraordinary happens!

[rebtif10] 01/8/2005 16:59

Thanks. PB's secretary has just emailed with his no. He is currently on the other line. Will call back shortly and post the outcome.

[dried66] 01/8/2005 16:48

All I can suggest is phoning 0207 409 0890 (number passed to me previously) and asking for a contact number for a Tony Hoskinson, who is the director that I spoke to in mid-June. He has responsibility for driving the deal forward and is probably the best person to speak to at present.

[rebtif10] 01/8/2005 07:44

Sharecropper, your comment is interesting because I was discussing something along the same lines at the weekend. Surely they need to provide some sort of information, even if it is not good, to the shareholders. I know that their advisers are Grant Thornton and, I think it was around October, I spoke to the guy who was looking after Setstone but he would not divulge anything.

I have tried to email Peter Burton again. I think this time it has managed to arrive, although not positive, but have received no reply. I hope he is on holiday and not ignoring the issues!!

[sharecropper] 01/8/2005 04:32

Is there anything in the Stock Exchange rules which could be employed to force the company to at least supply an update?

[rebtif10] 28/7/2005 16:16

Just tried emailing Peter Burton but email address no longer works!! I wonder what that means. I have totally given up on this stock since there has never been any communication and I feel that we have been left totally in the dark.

[doorway] 28/7/2005 12:50

ah no......think i spoke to soon....