Long Run Explor Ltd Ord WFREF

It Aint Over Until Its Over

[BlueCollar51]

I have spent a lot of time and effort attempting to get my head around what is actually happening here….
 
It’s never a good idea to take “Headlines” at face value (it’s all in the details) and it doesn’t help that the “Headlines” have been translated from Chinese and the details are in Chinese.
 
I have been looking at the “source documents” that the Headlines have been based on with Google Translate which seems to do a bit less than a perfect job.
 
It looks like Changchun Sinoenergy is not actually the Purchaser of Long Run.
 
If this deal gets done, they will (probably are now) be a bit less than a 50% partner in Zhontgian Energy (the purchaser). The other abt. 50% of Jhontgian seems to be owned by two individuals.
 
They have a website https://www.snencn.cn/index.html there are a lot of relevant documents available there (Use Google Translate)
 
The Changchun PP is NOT entirely for LRE. It is for three investments including the abt. 50% stake in Zhontgian/LRE.
 
It looks like the Share price for the PP will be based on 20 days trading of the Changchun shares.
 
All this had to be approved by a Shareholders meeting. There is a May 23 announcement on the Zhontgian website that I “think” says that the meeting was on May 20 and everything was approved.
 
It looks like the Changchun PP hasn’t closed because it couldn’t until approved by the Shareholders and 20 days trading history is required to establish the share price. It’s also entirely possible that it wasn’t fully subscribed…
 
I have a hard enough time understanding Corporate Documents at the best of times never mind some that have been imperfectly translated from Chinese.
 
It’s highly possible that I am misunderstanding all of this so;
PLEASE DON’T TAKE MY WORD FOR IT!!
 
As Always; Do Your Own Due Diligence; It’s Your Money !!

[anyone]

Calgary Sinoenergy is the purchaser. ChangChun Sinoenergy has shareholder approval to buy 51% interest of Calgary Sinoenergy and the remaining 49% Calgary Sinoenergy is owned by a private investment company. This deal was arranged by the controlling shareholders of Changchun Sinoenergy, who owns part of private investment company too.  The private investment company will pay $200M upon

[BlueCollar51]

I think that you have summed it up nicely. I have ben trying for a while to get a handle on the Chinese Corporate structure for this deal. It hasn’t been easy. When you look a Reuters, Google Finance etc. they describe Changchun Sinoenergy as a Department Store Company…   Relying on the Reuters “News Flashes” for info and taking them at face value can very easily result in jumping to the

[QUANTUMJUMP]

"Relying on the Reuters “News Flashes” for info and taking them at face value can very easily result in jumping to the wrong conclusions." I get the impression this may be a hobby to you (the penny stocks) 1- If you sold that day you would have got .48 and could rebuy today at .46  2- When IR misdirects  ............. seems odd 3- 100k shares ( last bit of position on Wed )

[Scottie99]

This post has been removed in accordance with Community Policy

[BlueCollar51]

They don’t have to close the deal a day or two after Investment Canada approval is received they have until the June 30 Outside Closing date and they have until June 29 to deposit the required funds in the Escrow account and Transfer Agent. **If there is a money delay The LRE BOD with the approval of the Lenders can extend that if they chose to. Whether they would or not would depend on the reason

[Scottie99]

This post has been removed in accordance with Community Policy

[QUANTUMJUMP]

Really stupid comments as Sinienergy has opeartions in Canada , hey who is the CEO over there ? 3 final undertakings have been submitted  I am looking to accumulate to 100k shares again $6000 

[BlueCollar51]

From the get-go the issue has never been if the Purchasers could come up with the Cash for the Shares and Debentures it has always been if the Lenders would sign off.   Although the Lenders can’t block what appears to be a legitimate offer they can and have attached conditions to protect their interests.   In my “opinion” the biggest risk to this deal closing would be something falling