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georgia the next saga

  1. 2,629 Posts.
    Hi All,

    The Georgian project has some interesting "Dots" and the usual suspects with the other projects along with some new ones. I won't posts all the "Dots" and suspects now but enough so that those interested in researching some of the individuals and companies that might be behind the potential Georgian project can do so.

    And there is just some interesting reading below.

    I guess time will tell just how this new chapter of RRS turns out.

    Disclaimer: Some of the individuals below may or may not have any relationship to RRS or the Georgian project.

    Everyone please do your research and DD.


    From The Australian

    CITY BEAT: Rebecca Urban | July 10, 2009

    Georgia on their mind

    THEY'RE an intrepid lot at Range Resources. Not content with searching for oil and gas in Somalia, Peter Landau and his crew now plan to look for the stuff in the former communist republic of Georgia.

    Emerging from a trading halt yesterday, Range revealed that it had signed a deal with Britain-based Strait Oil and Gas to farm into its Georgian oil and gas blocks.

  2. The deal was stitched up with the help of
    Damian Conboy,
    the London-based financier brother of Perth stockbroker Paul Conboy.

  3. Damian recently joined the board of Strait, whose chairman Mustafa Mutlu will eventually take a board seat at Range.

  4. Interestingly, Mutlu has a PhD in economic and social upheaval from Istanbul University. We imagine it will come in handy.


    Damian Antony Conboy background information

    Damian Antony Conboy (age 38) holds a Bachelor of Commerce from the University of Western Australia. He began his career at Potter Warburg stockbrokers in Perth, Western Australia.

  5. Following a move to the UK in 1999, he was involved in several business ventures, finance and other business development roles.

  6. More recently, he has worked as Managing Director of Exchange Minerals Limited (of which he is also a director),a boutique corporate finance company with offices in London, Dubai, Perth and Belgium, providing project development and capital-raising advice to several companies including Greenland Minerals & Energy Limited.

  7. Mr Conboy is also a director of Strait Oil & Gas (UK) Limited, a company with oil and gas projects in Georgia.

  8. His past directorships in the last 5 years were My Body Talks Limited, Octagonal Limited and First Avenue International Limited.

  9. In August 1999, Mr Conboy was barred by the Australian Securities and Investments Commission ("ASIC") from acting as a representative of a securities dealer or an investment adviser in Australia for a period of two years. ASIC found that Mr Conboy did not perform his duties efficiently, honestly and fairly and was not a fit and proper person to be a representative.


  10. Mustafa Mutlu


  11. Exchange Minerals


  12. Mick Shmazian


    //That Exchange Minerals is linked to former Perth mining figure Mick Shemesian, who now resides in the United Arab Emirates and London and conducts deals with many small-cap Australian miners.

  13. Shemesian - under the alternate spelling "Michael Shamazian" - is a director of Mining and Petroleum Projects Limited, a company incorporated in the British Virgin Islands.

  14. Mining Petroleum Projects has its head office in Ashgabad, Turkmenistan, and its website states that "Exchange Minerals Limited of Dubai" is an "associated unlisted company".

  15. "Associated listed companies" of MPM are Boss, Range Resources, Artemis Resources, Contact Resources and Cape Lambert.//


    Good oil on a prime announcement


    March 3, 2009

    //Shemesian is embroiled in court proceedings with former business partner Brett Matich. The pair are fighting for control of a stake in Cape Lambert Iron Ore, the mining explorer controlled by Perth Glory owner Tony Sage. Shemessian's Hong Kong-based company Power United — owned in the name Shmazian — owns 10.5 per cent of Cape Lambert and last year launched a bid alongside Russia's Evraz to take control of the company, which controlled $320 million in cash.

    That bid was stymied by Matich, who obtained an injunction from the Supreme Court of WA to prevent Shemessian from selling or voting his Cape Lambert stock.

    Matich and Shemessian are scheduled to square off in court later in the year. "The thought of Gatto and Shemessian meeting in London has made Brett rather nervous," quipped one mining figure.//




    Cape Lambert Iron Ore

    The Takeovers Panel has affirmed ASIC's decision to not grant Cape Lambert Iron Ore subsidiary Cape Lambert MinSec relief on acquiring 20 per cent-plus stakes in several companies that were held in the portfolio of CopperCo, which it purchased on May 7.

    The interests in Tianshan Goldfields, Corvette Resources, Niplats Australia and Buka Gold will either have to be sold or takeover applications be made, ASIC and the Panel have ruled and we guess it will be the former as Cape Lambert probably just wants to get on with being a mining company after a very colourful shareholder dispute probably took up too much attention.

    Earlier this week Power United and Michael Shmazian (as he is sometimes known) sold their shares in Cape Lambert ending a battle between the company's major shareholders. It was reported by Cape Lambert enthusiast Mark Hawthorne in Business Day last week that Shmazian (or is it Shemesian?), a representative of Russian oligarch Roman Abramovich and Romanian-born, er, colourful businessman Frank Timis sat down together at London's Mayfair Hotel earlier this year to find a solution to a long-running and complex dispute without having to go to court.

    Facilitating the discussion was, apparently Mick Gatto and fellow arbitrator and mediator John Khoury, the chap who accompanied Gatto to Singapore in one of the Opes Prime saga's more colourful episodes. The outcome seems to be settled though with Cape Lambert reporting the sale of Power United's $17.5 million worth of shares. Thank God for that. Or thank Gatto.



  16. Evraz Group S.A. is one of the largest vertically-integrated steel, mining and vanadium businesses in the world. In 2007, Evraz produced 16.4 million tonnes of crude steel, 12.6 million tonnes of pig iron and 15.2 million tonnes of rolled products. For the first half 2008, the consolidated revenues were US$10,726 million and EBITDA - US$3,700 million.


    Eugene Shvidler, Member of the Board of Directors of Evraz Group S.A.

  17. Born in 1964 Eugene Shvidler is a graduate of the I. M. Gubkin Moscow Institute of Oil and Gas with a masters degree in applied mathematics, and holds an MBA in finance and MS in international tax from Fordham University. He worked as senior vice president of Sibneft beginning in 1995 and served as president of the company from 1998 through 2005.

  18. Eugene Shvidler is currently chairman of Millhouse, LLC, the investment and asset management company he shares with Roman Abramovich and their partners. He also owns the Château Thénac vineyard in France, a $37 million home in Belgravia in London, and the yacht Le Grand Bleu.

  19. He joined the Highland Gold board of directors in January 2008.


    Roman Abramovich

    Born into a Jewish family, Roman's paternal grandparents were exiled to Siberia from TauragÄ—, Lithuania by the Soviets after the occupation of Lithuania in 1940.//

    The Times has reported that he was a market trader selling black market toys before his association with Boris Berezovsky.//



    Signs of shady Russian share dealing

    December 12, 2008

    Russian billionaire Roman Abramovich.

    YOU can forgive Cape Lambert's Iron Ore boss Tony Sage for feeling like a man under siege. Ever since the executive chairman secured $400 million in cash for the company's iron ore assets in Western Australia from China Metallurgical, the sharks have been circling.

    Indeed, with each payment of $80 million from the Chinese has come even greater pressure to remove Sage from the Cape Lambert cashbox.

    The first shark to circle was tenement dealer Mihran Shemessian. He's known as "Mick Manynames", due to the number of different spellings of his surname on documents.

    Shemessian's Hong Kong-based company, Power United — owned in the name Shmazian — holds a touch over 10 per cent of Cape Lambert and, under a deal struck years ago, he is entitled to millions of dollars in royalties from the project. Shemessian tried to have day trader Leo "The Gun" Khouri of Opes Prime fame installed as a director of Cape Lambert, but that attempt failed.

    That play for the company had a colourful enough cast, but the next in line to try to seize control of Cape Lambert has some international names. The latest move seems to be coming from Cape Lambert's biggest shareholder, Russian steel giant Evraz group, which owns 16 per cent of Cape Lambert and is controlled by Roman Abramovich.

    Sage says of the moves for Cape Lambert: "We've increased security at home, and at the office."

    Cyprus-based Unicredit Aton International has unexpectedly emerged as a substantial shareholder of Cape Lambert. That detail only came to light after Sage and the board hired international business intelligence firm Thomson Reuter to investigate a large number of share parcels owned by Cyprus-based companies.

  20. Thomson Reuter found that Unicredit Aton — a financier that provides "access to Russian and international stock exchanges" — now controls 36.8 million Cape Lambert shares, or 7.28 per cent of the company.

    After being flushed out by Thomson Reuter, Unicredit Aton lodged a substantial shareholder notice with the Australian Securities Exchange ASX on Wednesday. But Unicredit Aton won't say on whose behalf it bought the Cape Lambert shares.

    The board of Cape Lambert suspects that Evraz might be behind the Cyprus shareholding — putting it in control of 23.3 per cent of Cape Lambert and in breach of Australia's foreign investment rules. Evraz would need approval to move beyond 19.9 per cent ownership.

    Cash-strapped Evraz may also be obliged to make a takeover offer for Cape Lambert — not a welcome thought for the biggest steel maker in Russia, as its share price has tumbled 90 per cent this year. "We've heard they are now shopping the Cape Lambert shareholding around and are trying to sell it," says Sage. "They need the money."

  21. Abramovich is one of the world's wealthiest men and owner of England's Chelsea Football Club.

  22. According to reports from Moscow, Abramovich's holding company Millhouse owns 36.4 per cent of Evraz. Newly installed Evraz chairman Alexander Abramov owns 24.3 per cent. The previous chairman, Alexander Frolov, has 12.1 per cent. Privat Group of the Ukraine, controlled by Gennady Bogolubov and Igor Kolomoisky, has 9.7 per cent.

  23. It's a list of some of the most powerful men in Russia, and Cape Lambert's board has taken note of just where these men hold their Evraz shares.

    The more Sage investigates, the more the evidence mounts that some of Russia's richest men flouted Australia's foreign investment and takeover laws in order to build a bigger stake in Cape Lambert. "We have informed Evraz that they may be in breach of Australia's foreign ownership laws," Sage says.

    According to the latest annual report issued by Evraz, a Cyprus-registered company, Lanebrook, owns 69.5 per cent of Evraz's shares directly, and a further 6.8 per cent indirectly.

    Lanebrook's shareholding structure is a mystery, but reports from Moscow and London suggest its owners include Abramovich, Frolov and Abramov.

    The board of Cape Lambert is considering lodging a complaint with the Foreign Investment Review Board, but has so far been unable to link Evraz with Unicredit Aton.

    "No query has yet been lodged with FIRB or any of the regulatory authorities in Australia," Cape Lambert spokesman David Tasker said.

    A spokesman for the FIRB would not confirm if Evraz was under scrutiny, but confirmed that the board of Cape Lambert had not yet lodged a complaint.


    Frank Timis

    Frank Timis (born Vasile Timiş, 28 January 1963) is a controversial Romanian-Australian businessman living in London, with interests in mining and oil extraction industries. The Sunday Times Rich List estimated his wealth at £162m (U$238m) as of April 2008[update], making him the 497th richest person in Britain. The Romanian magazine Capital reckoned Timiş to be the 9th richest Romanian, estimating his wealth at $290m as of 2006.


    Lord Truscott


    Lord Truscott


    Peter Derek Truscott, Baron Truscott (born 20 March 1959 in Newton Abbot, Devon) is a British petroleum and mining consultant, Labour Party politician and writer. He was a Member of the European Parliament from 1994 to 1999 and was elevated to the peerage in 2004. He has written on Russia, defence and energy, and works with a variety of companies in the field of non-renewable resource extraction.

    Previously somewhat low-profile in British politics, he made headlines in 2009 as one of four labour peers named by the Sunday Times as being willing to accept money to help companies amend bills that would have an adverse effect on them.

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