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NXS, NEXT SCIENCE LIMITED
fraz2
post Posted: Jun 12 2014, 09:06 PM
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The shareholders have voted down the paltry t/o offer of SGH and have put the company into voluntary administration after years of the boards inability to realise the potential of the assets.
It would appear that they want the board, who also hold shares, to feel the pain.
I have a small holding left and would rather get nothing than see this board claim accolades for selling us out at such a ridiculous value. Unfortunately SGH will probably get the whole box & dice for next to nothing. grrr.gif



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.
 
nipper
post Posted: Mar 6 2014, 12:04 PM
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Australian oil and gas company Nexus Energy is in the thick of debt worries and is trying to avert potential bankruptcy after a major outage last month at its only money-making processing facility. Sources close to the company have said that senior bankers at Nomura Holdings and Bank of America Merrill Lynch are seeking to offer Nexus a bridging loan that would be in their own interests. The bankers are understood to be owed nearly $45 million, Dow Jones reported.

The news service is also reporting that two other people say subordinated-note holders want the troubled company to sell assets to recoup their investments faster.

Nexus’s Longtom offshore gas-processing facility in Australia’s Victoria state was shut down last month after an electrical fault occurred that the company still hasn’t been able to fix. Longtom is Nexus’s only source of revenue at the moment.

Longtom generated $14 million in revenue in the three months through December – just barely above its costs of $10.8 million, including interest payments. The company had $10 million in cash at the end of last year, the report said.

Nexus’s shares are in a trading halt...To service a $148.4 million debt pile, Nexus could raise more debt or equity, sell assets or renegotiate its current lending arrangements, the report said. Alternatively, if Nexus is able to fix Longtom soon, it could be able to generate enough revenue to ward off bankruptcy by meeting its debt obligations.

Nexus owns a stake in the Crux natural-gas field offshore Western Australia state, but that is understood to be years away from starting production. Royal Dutch Shell is Crux’s largest shareholder, while Nexus owns 15 per cent.

..... AFR



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
slick7
post Posted: Jun 23 2013, 12:50 PM
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November 2003... the last time the SP looked this this. I dont know why I've kept this one on the watchlist but despite the 10 - 20cents movement in the last 12 months they're back to where they've started (even a bit lower). Ahhh NEXUS. Anyone who's voted against Richard Cottee has hopefully learned a valuable lesson. In hindsight I dont think the situation would be this crazy atm if he was still in charge and was allowed to try some risky corporate manoeuvres.

 
slick7
post Posted: Oct 1 2012, 08:53 PM
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In Reply To: PeterH's post @ Oct 1 2012, 04:17 PM

unhappy with the board is the understatement of the century... if anyone else has the balls to engineer a termination payment for simply changing positions within the company and the board lets it happen they need to be kicked out of the job asap

 
Trumpton
post Posted: Oct 1 2012, 07:40 PM
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In Reply To: PeterH's post @ Oct 1 2012, 04:17 PM

I still think the companies preferred route is to dispose of the Crux stake at the highest possible value. His joining the board is a big plus for me that he thinks this is achievable and he can only help in future negotiations.


 
PeterH
post Posted: Oct 1 2012, 04:17 PM
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In Reply To: OZGAZ's post @ Oct 1 2012, 11:32 AM

I see this as a big plus, at face value, but Don will perhaps get a jolt if his appointment turns out to be short lived when the remuneration motion gets knocked back the second time and he has to face a re-election. And why, I hear you ask, should we wxpect a second strike? I guess because nothing has changed. Don is reputed not to be a patient man so he may not have the patience to stand for election by an unhappy constituency.

Why should shareholders be any happier this year? Well I am no happier. I feel no better informed, treated like a sucker, in fact. I went to the last AGM and I have to say I found the board most unimpressive, and I have seen a few unimpressive boards in my time, so I intend to use my vote effectively.

 

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OZGAZ
post Posted: Oct 1 2012, 11:32 AM
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Thoughts anyone on ex-Woodside MD Mr Don Voelte coming on board...can he turn NXS into a producer in a shorter period and within a reasonable budget seeing as the Pluto project at Woodside didn't exactly go quite to plan...

Cheers

Ozgaz



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Trumpton
post Posted: Sep 6 2012, 01:38 AM
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In Reply To: mme's post @ Sep 5 2012, 05:59 AM

It was referring to a suitor interested at the 25c mark.......the stock fell 8%!

 
mme
post Posted: Sep 5 2012, 05:59 AM
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In Reply To: Trumpton's post @ Sep 4 2012, 04:55 PM

Street Talk in the AFR has an interesting Caption for you guys that are following! biggrin.gif Can't access the story as I don't subsribe.


Said 'Thanks' for this post: Trumpton  
 
Trumpton
post Posted: Sep 4 2012, 04:55 PM
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In Reply To: slick7's post @ Sep 4 2012, 12:12 PM

Yes. I'm clearly missing something as there appears to be significant upside from here. That has been the case for some time now and the market is uninterested.

 
 


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