Providence Resources Forum

Richard stated at the bottom of the report that he had a position in Providence. His view in the report was shared By Many i.e TOR had made a mess of things but depite that Great Assets should win out. This is still the case only Know It appears that our BOD is attempting to sell our Assets on the cheap By dilluting Us out of existance.

[link] Haribo, this glowing report was prepared by Jennings. Wonder if he was to be remunerated for it....and possibly in shares? Might explain a lot.

Lets just hope Providence just raise 30 to 40m as Mamms suggested and not the 100m mentioned. At least not through equity funding

They allocated 1 for every 4, total allocation should be approx 75 million but its 140million. Something has happened last year too

After last fund raise i read more than 90% is held by iis, but at the end of 2014 my hunch they had far less than 90 but above 80. Now total shares is 140million, if you calculate you will observe dilution.

What is the dilution factor ?

I did bit more assessment, looks like last year about 35% of public is been moved to IIs; looks like some number crunchung exercise happening. Ponzy scheme

I believe TOR is worse Than a chancer. TOR has lied continuously, not behaved in the interests of all shareholders, mismanaged the company, fleeced the company using borrowed money, not treated all shareholders equally and has not been transparent in regards to Barryroe, Schlumberger, Transocean nor Melody. It is hard to understand How he and the BOD can Get away with such behaviour. These individuals Have no conscience at all. And to add insult to injury they are selling us out with this tremendous dillution. Many Like I Have been financing this crowd for nearly 10 years now. Disgusting

I guess we could contact him via linked in? maybe we could get the percentage of disgruntled shareholders up to 20%. i can't imagine we would have too much difficulty getting someone half competent to do the job for eur 250K. any thoughts on this?

linked in says Spreadbet Magazine Ltd, align research and Peregrine Asset Management Ltd....