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BKP, BARAKA ENERGY & RESOURCES LIMITED
blacksheep
post Posted: Jan 16 2019, 01:08 PM
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In Reply To: blacksheep's post @ Dec 11 2018, 10:46 AM

BKP is now GLV - GLOBAL VANADIUM LIMITED

Just did a bit of research into their - Philippines Iron Sands Vanadium-Magnetite Project - acquisition. These assets certainly have history. biggrin.gif Here's part of that history

19 February 2008 - NSX listed ZOD Zodiac Capital - announced the company had formed Colossal Mining Limited to fund & commercialise the exensive known iron sands of North West & North Luzon in the Phillippines
https://www.nsx.com.au/ftp/news/021719807.PDF
May 1, 2008 Zodiac Capital Limited (NSX: ZOD) advises that the Acquisition of the iron sands tenements in north west Luzon in the Philippines through its Colossal Mining Limited affiliate is no longer proceeding following termination of the Acquisition Agreement by Colossal Mining Corporation (Philippines).
QUOTE
As these payments were accountable prior to the issue of Mining Permits, the Company became increasingly concerned as a dispute between a former director and shareholder of Colossal Mining Corporation (Philippines) escalated. Although the Company is in receipt of advice that the matter was one that would not affect the rights to the acquisition, the major concerns were the ongoing threats being made to “kill the project” as well as the release in April on the Internet of alleged copies of texts allegedly threatening serious physical harm between the Philippine parties. The Company is extremely disappointed that these matters of internal dispute within the vendor interests have escalated to the level where, in the Company’s opinion, the project and/or tenements were at risk.
https://www.nsx.com.au/ftp/news/021720132.PDF
https://www.nsx.com.au/ftp/news/021720609.PDF

15 May 2009 ASX listed GNI signed HOA with Consolidated Iron Sands Limited
5 October 2009 Global Nickel completes due diligence on potential acquisitions and announces - "GNI will not be proceeding with negotiations to acquire Consolidated Iron Sands Limited,"

4 April 2011 re enter Zodiac Capital Limited who announced they were proposing to list CIS on the ASX and expected to lodge a prospectus within the next 30 days
https://www.nsx.com.au/ftp/news/021723869.PDF
http://www.delisted.com.au/company/zodiac-capital-limited

Department of Environment and Natural Resources MINES AND GEOSCIENCES BUREAU Miining Tenements Management Division - shows the tenements their date of approval/expiry
https://file.ejatlas.org/docs/MGP_2014_Nov_...of____EP_2A.pdf

A few legal issues in the past - https://www.philstar.com/headlines/2014/01/...sm3PPDoarAXR.99
http://sc.judiciary.gov.ph/pdf/web/viewer....2016/220546.pdf

And a few issues with residents in the past - not sure how they feel today - PHILIPPINES BLACK SAND MINING OPERATIONS, GONZAGA, CAGAYAN PROVINCE
http://coastalcare.org/?s=philippines+sand+mining
NORTHERN LUZON SITUATION ON MINING, HUMAN RIGHTS AND DISASTER IMPACTS
http://cpaphils.org/campaigns/NLMiningandH...itution-RDC.pdf


From GLV's announcement dated 14 January 2019
QUOTE
As previously announced, the Company’s investment in the Philippines Iron Sands VanadiumMagnetite Project, is currently through loan advances to Consolidated Iron Sands Limited (CIS)
or its Philippine’s based subsidiary, Luzon Iron Development Group Corporation (LIDGC). These
advances are made under a Secured Loan Agreement entered into in 2012 (and varied in 2014) by
Global’s wholly owned subsidiary Goldfleet Enterprises Pty Ltd (Goldfleet).

CIS holds, via LIDGC, its 97% owned Philippine subsidiary, Exploration Permits for two offshore
areas between Sanchez Mira and Gonzaga, offshore of Cagayan Province Luzon. The Exploration
Permit’s eastern limit is 3 kms from the Economic Free Zone of Port Irene.

During the period in which the Current Board of Global undertook its review of the Philippines
Iron Sands Vanadium-Magnetite Project, being September, October and November 2018, Global
provided LIDGC (as CIS’s nominee and subsidiary) with its requested monthly budget advances
under the existing Secured Loan Agreement of AU$26,126.26, AU$29,937.56 and $29,936.53
respectively.

During late November and December additional information was provided regarding the status of
the Exploration Permits in various communications with LIDGC and from the ongoing technical
and legal review conducted by the Company’s in-country consultant. As a result of the Company’s
review of this information, including but not limited to the fact that: (a) it is unclear if and when
the current “renewal” of the Exploration Permits will be granted by the Philippines authorities; (b)
none of the loan funds requested in LIDGC’s December budget were being used to protect and
preserve the Exploration Permits or meet the expenditure required under Philippines law; and ©
the current extent of loan monies provided by GLV/Goldfleet to CIS (and its subsidiary LIDGC)
under the Secured Loan Agreement, Goldfleet declined to advance the requested amount of the
December budget (AU$30,890) and notified CIS and LIDGC that further funding would be
considered for LIDGC if the requested December budget was revised to incorporate only costs to
protect and preserve the Exploration Permits. To date CIS and LIDGC have refused to provide a
revised budget to the satisfaction of the Company.

The Company intends to continue to work in good faith with CIS and LIDGC, including attending
a meeting with the directors of CIS, in an attempt to advance the Philippines Iron Sands Vanadium
Project.


All sounds very complicated IMHO. GLTAH and as always DYOR. smile.gif



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 11 2018, 10:46 AM
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Global Vanadium Limited - sounds big rolleyes.gif

QUOTE
Change of Company Name and Stock Code
Following shareholder approval at the Annual General Meeting, the Company advises that the name
change from Baraka Energy & Resources Limited to Global Vanadium Limited was registered with
ASIC. The Company advises that from 13 December 2018, the Company’s shares will commence
trading under the stock code “GLV”.
T
he Company’s website address is now www.globalvanadium.com.au




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 27 2018, 11:26 AM
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Posts: 5,827
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In Reply To: blacksheep's post @ Aug 10 2018, 05:02 PM

Seems to be a regular way of doing business for GTT, and a few others in WA. AX8 is the latest - will Jason Brewer be appointed to AX8

Some boards rue the day they made GTT Ventures their fundraiser

QUOTE
But it's not even the only time GTT has pulled a stunt like this. It successfully outed the board of Baraka Energy & Resources in August, after having raised money for the company only in April
.

https://www.afr.com/brand/rear-window/some-...20180926-h15whv



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 10 2018, 05:02 PM
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Posts: 5,827
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In Reply To: blacksheep's post @ Aug 8 2018, 03:32 PM

Looks like management have hoisted the white flag - GTT won

No mention of past failures - just recent sucesses. At the rate JB churns out these projects, shareholders won't have to wait too long before they know what's being served up. Makes you wonder how one man can spread himself across so many projects at the same time, and provide each one with the level of service required. He was also appointed to the MSE board recently.

QUOTE
Both Jason Brewer and Patric Glovac have a strong recent history of investing in and
assisting companies in acquiring mining projects for listed companies that deliver
significant returns for shareholders. Recent examples include AVZ Minerals Limited
(ASX:AVZ), Lepidico Ltd (ASX:LPD), Force Commodities Limited (ASX:4CE), Winmar
Resources Ltd (ASX:WFE), Cape Lambert Ltd (ASX:CFE), Vector Resources Limited
(ASX:VEC) and more recently TAO Commodities Ltd (ASX:TAO).




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2018, 03:32 PM
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Posts: 5,827
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In Reply To: blacksheep's post @ Aug 6 2018, 02:08 PM

Round one - BKP 1, GTT 0
Baraka Energy and Resources Limited - Panel Declines to Conduct Proceedings
QUOTE
The Panel has declined to conduct proceedings on an application dated 1 August 2018 from GTT Global Opportunities Pty Ltd (GTT) in relation to the affairs of Baraka Energy and Resources Limited (see TP18/56).

Baraka has convened a general meeting to be held on 10 August 2018 in response to a notice under section 249D1 from the applicant and other shareholders to consider resolutions to remove all current directors and appoint three new directors.

GTT submitted, among other things, that shareholders with a combined holding of 5.96% of Baraka's issued share capital had formed an association which had not been disclosed under section 671B.

The Panel considered that GTT had not provided a sufficient body of material to justify the Panel making further enquiries as to the alleged association. The Panel also considered that GTT had not made its application sufficiently promptly to the extent it was seeking a decision before the general meeting.

The Panel concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances. Accordingly, the Panel declined to conduct proceedings.

The sitting Panel was Bruce Cowley, Sarah Rennie and Nicola Wakefield Evans (sitting President).

The Panel will publish its reasons for the decision in due course on its website.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 6 2018, 02:08 PM
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In Reply To: stockman's post @ Aug 6 2018, 01:42 PM

QUOTE
Have you not looked at the shareprice...past and present?


Yes I have - pretty poor performance - no argument there from me.

However, I've also taken a deep look at the new mobs performance - past and present - and I'm not impressed with them either.

Do you really think the new mob are going to look after current shareholders or themselves and their associates? By the time they vend their project, raise capital, appoint advisers, give themselves/advisers heaps of shares/options what do you think retail investors buying into the "new" story will get?

No doubt it's another DRC acquisition, which IMHO have been flogged to death and will come crashing down to planet earth pretty soon. But, in the meantime there's money to be made by those flogging, those in the know and those punters who know when to get off before the music stops. As usual, the naive punter will be left holding the bags. So depends where you sit.



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


stockman
post Posted: Aug 6 2018, 01:42 PM
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In Reply To: blacksheep's post @ Jul 27 2018, 02:23 PM

How can you possibly say 'good to see' BKP fighting back. Have you not looked at all the information supplied re: Vosts? Have you not looked at the shareprice...past and present? rolleyes.gif

 
blacksheep
post Posted: Aug 2 2018, 03:12 PM
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In Reply To: joules mm1's post @ Jul 27 2018, 04:39 PM

The outcome of these proceedings - if they go ahead - will be interesting, considerin the attempted Sovereign Gold SOC t/o by GTT and the subsequent findings by TOV in that matter - http://www.takeovers.gov.au/content/Displa...ns/2016/012.htm

Baraka Energy and Resources Limited – Panel Receives Application
QUOTE
The Panel has received an application from GTT Global Opportunities Pty Ltd in relation to
the affairs of Baraka Energy and Resources Limited. Baraka has convened a general meeting
on 10 August 2018 in response to a notice under section 249D1 from the applicant and other
shareholders to consider resolutions to remove all current directors and appoint three new
directors.

Details of the application, as submitted by the applicant, are below

A sitting Panel has not been appointed at this stage and no decision has been made whether
to conduct proceedings. The Panel makes no comment on the merits of the application.

Details
The applicant submits (among other things) that there has been a contravention of section
671B as a result of undisclosed associations between shareholders with a combined holding
of 5.96% of Baraka’s issued share capital.

The applicant also submits that there are unacceptable circumstances arising from
“favourable” heavily discounted placements to friendly shareholders and uncommercial and
undisclosed related party transactions, commencing in late 2011 and continuing to date.

The applicant seeks interim orders including orders restraining alleged associates from
voting or selling shares or converting options and orders restraining Baraka’s board from
taking certain actions.

The applicant seeks final orders including orders requiring disclosure of association and
vesting of shares in ASIC for sale.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
joules mm1
post Posted: Jul 27 2018, 04:39 PM
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it's like watching Jardin v. Jardin in Bleak House
by the time the regulators/bourse/brokers and solicitors are done with this
thing it'll disintegrate any sense of numeric or entrepreneurial value
2.7BB scrip at auction .......not a cheap shell
it is extremely rare that averaging works on these stocks......as a trap, yeah, rates top odds on happeningbut in this market the 100k players rort the auction and extract all the available liquidity stranding late commers


edit: as a side note, this is not a knocking of the company, whatever your thoughts on the board are,
merely, my thoughts, as a 3 decade + trader i can tell you the game of hook n strand never changes regardlessthe abundant enthusiasm and positivity, which should never be confused with what the game is about: making money from money!



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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price

Said 'Thanks' for this post: blacksheep  
 
blacksheep
post Posted: Jul 27 2018, 02:23 PM
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In Reply To: blacksheep's post @ Jun 27 2018, 03:35 PM

BKP fighting back - good to see. Also some interesting comments regarding comments made on Hotcopper and by Jason Brewer.
General Meeting to be held 10 August - should be interesting.

Baraka strikes back
QUOTE
Baraka Energy & Resources Limited (ASX:BKP) (Baraka or the Company) has
instructed its share registry to serve 672B notices on all Bank, stockbroker and all
other nominee accounts to disclose the beneficial owners of their holdings now,
and up to the general meeting.


Baraka has taken this action as a result of some concerning and suspicious
trading in its shares. In particular, closing trades for insignificant holdings as well as
volume trading with no net change in holdings by stockbroking firms previously
associated with the requisitioning parties.

Baraka has also taken this action as a result of disclosure from research on the
requisitioning parties who have requested the shareholder meeting of Baraka to
remove the board of Baraka, and replace them with their nominees, one
nominee being a Director and shareholder of one the requisitioning parties.

It has come to light that five of the 6 requisitioning parties as noted below:

GTT Global Opportunities Pty Ltd, Syracuse Capital Pty Ltd <Tenacity A/C>,
Syracuse Capital Pty Ltd <The Rocco Tassone Super A/C>, Murdoch Capital Pty
Ltd <Glovac Super A/C>, Mounts Bay Investments Pty Ltd <Calver Capital A/C>
and Hustler Investments Pty Ltd (Requisitioning Shareholders).

Were together with Applabs, another associated company of the parties,
investigated by the Takeovers Panel in relation to activities and share holdings in
Sovereign Gold Ltd, which made a declaration of “unacceptable circumstances”
and required the parties to divest shares amongst other things.

The investigation of the panel, which is publicly available, was extensive and
disturbing with statements from the panel including, but limited to:

The parties acted in concert and are associated “for the purpose of controlling or
influencing the composition of Sovereign Gold’s board” or “in relation to the
affairs of Sovereign Gold”.

The findings also noted other factors such as the unacceptable conduct of the
associated parties, and acting for a common purpose of obtaining control of the
board of Sovereign Gold. Sovereign Gold has since had severe market disruption
and changed names to Force Com Ltd (4CE).

Additionally, the Company investigations disclosed the sad outcome of a
number of listed companies the group have been involved with, such as but not
limited to XTV Networks Limited (previously Intercept Minerals) which remains
suspended and is unlikely to return to the ASX, and Applabs (previously AACL
Holdings) which was suspended and subsequently delisted in January of 2018.

Baraka agreed to a placement with GTT Ventures Pty Ltd a licensed AFSL holder
in good faith with written undertakings regarding the placement, that being
spread and association of the placement parties for the placement of 300m
shares at $0.002 cents.

As at the time of writing, some 180m of those shares have been sold into the retail
market, having commenced immediately after the Company Halt for the
placement was lifted. Indeed trades have been recorded by the requisitioning
parties and we will consider the substantial shareholder notifications in regards to
those trades considering the initial 603 notice was late.

Baraka would like to be clear that we are not concerned about the quantity of
shares currently held by the group or its known associates breaching any
takeover limit, but since the announcement of the requisition another aspect is
being considered by Baraka in as much as the groups previous conduct, and
hiding shares in nominee companies as disclosed by the Takeover Panel. In
addition pods of shares being acquired by known work associates of one of the
nominees, and others associated with the group including stockbroking firms that
may be considered acting in concert to remove the board and or influence the
board as per the Panels declaration.

It was also unfortunate that one of the Nominees Mr Jason Brewer found it
necessary to denigrate Baraka and its board on his personal face book page,

and Baraka had no choice but to remind Mr Brewer on his face book which we
would not normally do and invade a private persons space, about his
unfortunate period as a Director of Black Mountain Ltd (BMZ) and elected not to
go into the narrative of the numerous events or circumstances. We have since
had a response from Mr Brewer that he would like to meet and we have agreed
to that request, as we did for other members of the group without any successful
outcome.

Baraka has been mercilessly attacked and subjected to false and derogatory
comments on a forum called Hot Copper and other forums, with similar
vocabulary, which was and is totally unwarranted. Since a warning was put out,
that there was a possible investigation by the regulatory authorities of those
messages being possibly from “Paid for Posters”, the tirade seems to have
become more muted, although a recent post was added that was disgracefully
dishonest and we have advised Hot Copper we want to pursue that defamatory
poster.


We once again express our concern about the previous activities of the group
and call on our shareholders to vote AGAINST all resolutions.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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