GGX - Gas2GridLimited

[frugal.rock]

Update.

Excerpt from Activities Report dated 29th January.
France

 No defence statement lodged by the French Government by the Tribunal set due date of 2nd
January, 2021 on the Company’s compensation claim lodged in January 2020 of €34.35 million
(approximately A$54.5 million at current exchange rate).

 The Tribunal has set the 15th February, 2021 at 12:00 as closing time for receipt of instructions
from the parties.

I was thinking about this one, and if the French guv had a leg to stand on, they would have been defending their cause.
However, with no submission at all, one might surmise that they wish to mordre la balle or "bite the bullet" and reduce costs associated with the case knowing that a payout is the likely outcome.

A bit over a week until "instructions" due date.
Interested to see the outcome.

Considered a sell again today, but things are just heating up, IMO.

 

[barney]

Considered a sell again today, but things are just heating up, IMO.

If its a small investment, go for the kill Rock! The chart is starting to look interesting as you say.

 

[frugal.rock]

I am not displeased with the apparent growing anticipation.
Refer previous posts.
1 month chart.

 

[frugal.rock]

Nearly breaking through yesterday's volume already.
Starting to heat up with a result not expected until next week.
Supply reducing, and rightly so. Company potential value still expected to at least double? from this price point...

I tip my beret to the ineptitude of the French Guv for this one.

Maybe this just a case of the cost of doing business by reducing carbon emissions or something, I don't really care about the reason, but it's nice to know...?

 

[barney]

Nice one again Rock!

 

[frugal.rock]

Speeding ticket.
Very fast turnaround on the response announcement.

3. GGX has announced on 12th January, 2021 the following:
Quote “In early January 2020, the Company lodged at the Pau Tribunal, France, a claim of €34.35 million (approximately A$54 million at current exchange rate) for compensation against the French Government.
This claim is in respect to the damages caused by the French Government in unlawfully refusing, as ruled by the French Courts, to renew the St Griede conventional hydrocarbon exploration permit in accordance with the prevailing mining law. In November 2020, the Tribunal has allowed until the 2nd January, 2021 for the French Government to submit their defence to the claim.
We have been advised, early this morning, that the French Government has not submitted their defence to the claim by the due date. Yesterday, the Tribunal has decided to set the “clôture de
l’instruction” on 15th February, 2021 at 12:00 (closing for instruction to the Tribunal).
Any possible submissions to be received at the Tribunal by that date in accordance with the “code de justice administrative” (administrative code of justice) of France.
While the Company believes it has a good chance of success, based on legal advice, the outcome and timing for determination of this claim are uncertain.” Unquote.

Current interest of investors in GGX’s securities may be on the basis of that announcement as we approach 15th February, 2021

 

[barney]

You offload any Rock, or still holding?

 

[frugal.rock]

You offload any Rock, or still holding?

Offloaded a small portion today reluctantly, slightly less than a third of holding, remaining holding is free carried.

Found it came up in volume risers lists today and certainly seems to have picked up momentum.

The announcement due Monday in France, midday their time, will be midnight (ESDST) our time Monday night , so we won't get the resultant announcement until Tuesday morning.

Will be interesting to see how far this goes, now the scalpers are into it...

 

[barney]

The announcement due Monday in France, midday their time, will be midnight (ESDST) our time Monday night , so we won't get the resultant announcement until Tuesday morning.

Will be interesting to see how far this goes, now the scalpers are into it...

Yeah, that 4 days of "speculation" could be interesting Good luck with the rest of your holding!

 

[frugal.rock]

Yeah, that 4 days of "speculation" could be interesting

The company held out in a trading halt frm Monday morning.
Mongrels.
Crap announcement too, for now.
Kicking the can further down the road....

UPDATE ON LEGAL PROCEEDINGS IN FRANCE
Financial Claim of Euros 34.35 million against French Government According to the Pau Tribunal public records the Government has lodged a defence statement
yesterday against the claim of Euros 34.35 million (approximately A$54 million at current exchange rate). For background see ASX Announcement of 12th January 2021. The Company’s lawyers in
France will study the statement once they receive a copy and advise on procedures.

See the announcement for more on the history of the case.
Goes back further than I realised.
Looks like it will go to the high court, so will take a while...

SP set to dump, d'oh.

 

[barney]

Yeah

The company held out in a trading halt frm Monday morning.
Mongrels.
Crap announcement too, for now.
Kicking the can further down the road....

Yeah pity FR. I guess the French Gov were never going to take it lying down. Hard for the Co to fight a bottomless pit.