Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Not much to write home about. 150% increase in resource. Cash at bank was 650k at 30th june with additional 350k raised in July. So market value is fairly reflected by cash. Cash burn is 350k a year. Bird in the oven at the moment!!!
it states Ed is a competent person & accepts responsibility....... does he also accept responsibility for the state of the SP & all that happened under his tenure?? It'll take years (if ever) for me to recover the losses incurred here (as others I suspect). Hi to all fellow sufferers of this OREful share by the way - can't post much at moment but will hopefully be back on line soon... warm up the bike & get the cream in Eric...
Thanks for all the research gents/ ladies ? .Been sat patiently losing value for years, really have written this off, just concerned that another holding of mine has now got Mr. B at the helm .
Christ!
According to the website "Latest drilling results almost double deposit strike length" and yet the SP moves just 10% that says it all! A) Diluted to hell already B) No cash in the bank C) No financial vehicle to draw from D) Going to dilute further E) To many years of little or no activity has frightened off the JV Partnership F) No confidence in the Board
Well I guess my timing was spot on! Clearly Georaid don't value the JV, they don't think they will get a return on their investment. One the upside, I also note not in the RNS but a change to the website for the Bankable Feasibility Study. Georaid are no longer owed the 350K USD worth of shares but now its 300K? Further non disclosure exists in the Joint Venture Agreement. from todays RNS "Orogen’s local partners elected not to contribute to the current drilling programme, so Orogen’s holding in the project will increase beyond the previously reported 80% level in accordance with the terms of the Joint Venture Agreement". However the JV doesn't describe in any way what a % of the holding is worth. EG is 1% = $1USD or $100,000,000,000,000USD This needs to be clear or be reported to the FCA as another non disclosure.
Begs the question why they've done almost bugger all for the last three years. Next year will be smashin' but where will the money come from? Jib, fook it, send Birdy a blank cheque.
It isn't even a mile. Boo! Lol.
How many miles of gold is that???
Lol!
RNS out looks good,wonder if it will hit .60
These guys must have the results from the second drill assays by now. It doesn't take this long normally? They will be telling the market about the additional drilling results in the north before releasing the second assays if they are not careful. It's clear now the Georaid JV is the only reason for the additional drilling this year. Not really part of any planned exploration more a tactical play to keep Georaid interested so that they help fund the future drilling. Without them it's game over. Even mass dilution won't help this. The only play Birdy will have is to suggest merging both companies. I don't think that market will be in favour of that.
Perhaps you should move down under, then everything will go north Pad. Ha ha. Enjoy your weekend.
Sorry Eric - next time I buy into anything I'll let you all know, it seems I'm more Wonky Buffer than Warren Buffet. Everything I touch heads south - even my son's moved to Australia. If I were to sell out ORE would hit the mother load...................any takers?............I only need just over a ha'penny a share to break even.
Yeah Pad, it's all your fault.
one negative post and I wiped 65 of the value of the company - I should be on the BOD
Aye, will be joining you on tha A3. I'll be the one pedalling the bike to keep the electricity generating through your trailer. Service with a fookin' grimace. Lol.
Gold miners that don't dig - going to bury my shares in the garden - that way they will be with all this companys other 'assets' - still buried. Had planned for a sunny retirement in warmer climes - but you will now be able to look out for me on your travels, a grey haired old geyser selling burgers from a trailer in a layby on the A3 - Please drop in to Porkies Diner when you're passing - after investing here years ago - I promise I will need the money.
I like your optimism. "...the coming years.." How long will it actually last, is what I'm thinking now. We need a miracle.
Yes , wrote this one off sometime ago, still hold but not a hope of recovery to amount invested. Really hope that Mr Bird manages to make something of another aim company I have shares in . Unfortunate that I was invested there sometime before he joined .
I've written my losses off with this share, mentally anyway. I'll never recover my investment. There are just too many shares available for what we have as potential discoveries, or so it would seem. With that in mind, I'm just going to sit here and see what happens in the future. I'm not going to sell as it's now a case of seeing how the ineptitude of the directors continues over the coming years. Past performance does not bode well, but with only 4% left to lose, I may as well see it dilute even further. I fully expect a 100% loss given the way it has been managed over the years, but you never know. With some excellent news, my losses may reduce by 20%, lol! I'm just intrigued now to see how this company perform over the coming years, whatever the outcome. You live and learn.
It's not all bad news. Just think of the tax relief on our losses. When to sell, that is the question, lol. I agree though, with every word of your post.
Pmsl. Yes, much to look forward to.
Well I expect mediocre news about the drilling, bad news about the JV and another big dilution before Xmas
Not sure about that, as the Chinese would play hardball and we could end up worse off. If that's possible. Lol.