George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Well we are still waiting for Mutsk: Confirmation of the completion of 80% earn in "Official paper work", which has now taken 6 weeks to process, so I guess there must be lots of applications and a big queue, due to all the other mining assets..... Confirmation on the JV to kick in again it must be a big decision that has crept up on them and they need more than 6 week on top of the last two years progress to make a decision...... Silverton to capitalise on the fact the Birdy could not deliver a base metal asset, there has been no progress at all apart from the signing of the Birdy bailout paperwork. He has been here for 1 year, taken a massive wage and what exactly has he done. Sack him Immediately!
Sp still looking pretty pap, so hoping for a better finish to the week for us. Good luck.
Are we that low this morning Bless us ?
Ah;; don't know about that ;; one thing if they fall the blow won't be so hard ; Cheers .
Be careful. These shares are in high demand. Lol. Best wishes.
I will probably buy 1,000,006 tomorrow , If the good lord spares me , G L A
You are most welcome. Hey though, looks like your buys, recorded as sells, have sent the sp down further. Lol. Best wishes.
Thank you kindly ,, G L A
I think this was mentioned the other day. If your buy price was below the mid-price of the spread, then it's listed as a sell here on LSE and shown in red. Anything above mid-price is listed as a buy and shown in blue (even if it was a sell above mid-price). Anything bang on mid-price is listed as nothing, neither a sell nor a buy, but is simply shown in black. It's all quite inaccurate. Lol.
Why have they put it in as a sale something wrong there , they did that to me before on 1.000.004
Just bought 1.000.005 shares G L A
Good post. There will definitely be another cash call before any more work can be done on Mutsk. As you have said, we will be broke pretty soon, so, unless they can somehow raise the sp and stumble into a JV with a major player (guffaw), then I think we are buggered. Ericisms are becoming Daveisms. Or is it Davisms? Lol. Embrace your imperfect self, you know it makes sense. Chairs.
Is mitpracle even a F&£)(NG word?.......meant miracle! Another Eric! Lol :) DD
Eric, ORE have £652k in the bank, they need at least half of this in the next 12 months to adhere to the Silverton EIA, the BoD will make sure they take at least £330k (for all their hard work.....pmsl), that leaves, errrr, sweet FA. So they will have to raise funds via a placing, that will not be taken up given the fiasco of the last one and the FCA watching closely (I can but hope), nobody will won't a JV, the BoD IMV have no credibility so this will fold...........or by some mitpracle morph into something else completely different and Adam Reynolds and his pals will keep riding the gravy train whilst sitting on their fat arses doing nothing. Rant over. Message to ones self, do what you said you were going to do and forget that this dog exists. Have a good one chaps. DD
I think the frustration stage is well behind us. Now it feels as if we have reached another level. That being, I don't believe any of us here can see just how this is going to come good.
Yeah, it's the unpredictable predictive text Dave. Lol. I type on a smartphone mostly and it often changes my correct words to other words. I type quickly, and with my extreme myopia I can neither see nor do I expect there to have been any changes. Apol logs. Howl.
Excellent points made.
that's "only be paid". Got Eric's affliction!, no offence Eric, the frustration makes holders post incorrectly and have to post corrections! DD
Hi Cast, hope all is well. Hats off to you for what you did over at VAST. Did work out a while back how Birdy's initial salary (c £150k) compared to Martin Sorrells (WPP), ok perhaps not a fair comparison in a lot of ways but it demonstrates how extortionate the BoD's salaries at ORE are, based on market cap as can't base it on profits or revenue, then Birdy by comparison should in,y be paid about £5k pa. Another comparison is the acting COO at SPD, who is well underpaid IMV, is only on £60k pa. As you say Cast, this BoD by any measure you wish to take and based on their performance SHOULD NOT be taking anything out of ORE, it's absolutely a disgrace.........but clearly they don't give a shit what any shareholders think. DD
Yearly admin fees about 350k - last and only placing so far this year placing 350k - share dilution 42% = unsustainable Basically as I see it the BoD have diluted the company by nearly half to pay admin expenses of which the majority will be their pay.
I wasn't saying the BoD's of companies should not be paid - but when you have run a company for 7 years and not built any value and a large proportion of the 6 monthly placings are going on directors remuneration - its time to stop taking. Another company I am invested in fell on hard times and the directors deferred their pay until the situation improved - its the least they should do - to prove up Mutsk and the other project Birdy dumped on ORE is going to take a mountain of cash - there would be more if directors cut their fees.
I disagree insofar as I think that fair wages should be paid for BOD members, but then wages only increase on good performance. Otherwise nobody would want to do any company role. However, the people here have clearly been overpaid from the beginning, for what has only been the lack of delivery of anything of note. For years. Why would they resign though? They aren't like us. Best regards.
Hiya Rod. My holding here is now worth about two bob. Lol. Who would have thought that having gold was a financial wrecking ball eh? Hope all ok with you and that Pattycakes is doin' you proud, you know where. Whoop!
Eric I didn't know the FCA were involved - unfortunately they can't make the BoD actually do something for their (in comparison) huge remuneration. It does infuriate me that directors still get paid so much for removing money from shareholders via placings. Denty for example had to settle for NT on his sell - it is a complete rip off. These directors should take no money from the company until they build some value. I just had a quick look at the last financials and see the admin expenses are more or less the same as previous years, so apparently they are still taking huge salaries. Sorry for you guys still holding, but I think it will be difficult to keep coming to the market for cash via placing. I don't think there's enough interest in trying to do something, you need loads of PI's on board. With the huge number of shs in issue no doubt held in small quantities it will be difficult. I hope the BoD do pull something off (not much chance with their history though), but its a difficult situation - they could save £250k a year by not taking salaries I would have thought - its the least they should do.
Go for it mate. Too much dodgy dealings on AIM.. About time FCA took action.