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Hmmm yes I think I might have 200 quid somewhere as well ... but that's where it's staying!!!
I would think the Directors will keep taking their wages until the pot is empty , The goose that lays the golden egg should never be killed G L A I might buy some more shares today , possibly just over a 1 mil ,
Eric, dilution or consolidation then dilution is inevitable now. If not before Xmas straight after. My advice for what it is worth, take what you can and walk away from this dog.
Eden more appealing. Pmsl. Sorry.
I'm amazed that people do come on and sing its praises. The amount of shares in issue would put me off straight away. Hence I do feel that a consolidation will be needed in order to try and make the share Eden more appealing. Lol. However, with that will be the inevitable cash raise and beginning of a new era of dilution. In my opinion. I believe the only answer was to have proved up Mutsk during the months surrounding winter, then we'd perhaps be in a healthier position now, but this hasn't been accomplished. Without a JV, it's difficult to envisage how things will change for the better isn't it? I may wait for the next news, see what it is. I'm hoping it won't be a fundraise, because they have only just done the bare minimum required to achieve the Mutsk earn-in, so should have enough left in the bank until early next year. Silverton aside of course, which may require an unjustified cash injection. Lol. Cheers Bans.
Good thoughts DD, in my stubbornness I'm gonna stick around, my losses here stink mega big time Johnny & it's only my good nature that's stopping me from getting the blunderbus out for some bird scaring......I swear if the Mrs ever finds out how much I'm down on this she'll turn me into her sister ... about the only way I get by these days is by trying to lmake light of it & trying to help ease down the expectations of those who come on here from time to time jumping up & down singing hallelujah & thinking this is their short term golden ticket & retirement provider ... not always the easiest task........but also just hoping that just this once they'll be the ones saying 'I told you so' to us after a couple of fruitless weeks - just never seems to work out like that does it. Good luck to all the gang in whatever you choose to do here & elsewhere.......
My holding is now worth less than that Dave. Maybe Coli is wise. Leave it running, pop in now again on the bb. Essentially, we'll be paying to just stay and chat, rant and vent. Sounds like a fair plan. See how many months the remainder of our holdings last, before this goes down the pan. Of course, we don't want it to, but Bird has so far displayed nothing of any note to convince me otherwise. News when I wonder?
Thanks Eric. Looks like annual salaries will de down by c £55k, but share based payments up c £15k, so overall they have reduced how much their taking from us for doing sweet FA (in my books that is daylight robbery - go ahead admin remove my post!), but that doesn't include their share options though!. Any thoughts on how long this will survive? 6 months - 9 months? Feel the same as most LTH here, want to just offload and be done with it, but given how little my investment is now worth (£110), decided to just delete ORE from all my electronic files / spreadsheets / PF website lists, etc etc and delete it completely from my mind. Will look at it in 6 months time and take it from there - the pent up frustration on how this BoD is taking the **** out of me, and all shareholders, is not worth it given it's only true worth to me is a paltry £110. So, thanks all posters Eric/Jibber/Bannor/Colli/Cast, etc, for your support over the years, will keep holding but will take Colli's advice and forget this dog for a while. GL DD
Holy crap. Good info Dave. Nightmare. Lol.
Jibber From last years annual report (note 15) when share based payments, for the year, was £5k: "The Group has a share ownership compensation scheme for senior executives of the Group. In accordance with the provisions of the plan, as approved by shareholders at a previous general meeting, senior executives may be granted options to purchase ordinary shares in the Company." You guessed it....the BoD. It's now gone up to £10k so annualised c £20k, a four-fold increase. At least Dick Turpin had the decency to wear a mask when he robbed people! DD
Thanks Jib. I have to be careful what I say here, because someone is obviously watching, following the removal of my 'akin to crooks' post the other day. I did not in any way state that they were crooks, but obviously it wasn't deemed appropriate. I wonder if this post will remain, but someone should be checking the voluminous 0.0249p buying, immediately on the back of a 0.015p placing price. The news since hasn't amounted to anything worthy of such mass buying. Unless they have 'other' information that is being kept from shareholders. Only my thoughts. I would have at least expected a timescale to emerge for further work at Mutsk, even in the absence of a JV, but we haven't even had that. I don't know what else to say about this Company. I think the BOD has forgotten that it is our Company, as it continues to treat its shareholders extremely poorly. In answer to your question, no, I have no idea where those share-based payments went. Cheers Jib.
Any ideas where the £ 10,000 Share based payments went to?
They did what we have been saying all along consolidation of shares. However they also tried to mask it by hiding under a new name.
To save us looking, which is what exactly Wress? Cheers matey.
i would think that they will do the same as what the above have planned.
A very good question.... I imagine it's with the .0249ers who may have a renewed interest in where 20% of their investment has gone already ....!!
Thank you Celine. I enjoyed Birdy's comment in yesterday's RNS regarding renewed shareholder interest. In reality, where is it? Lol.
GLUG. ..........GLUG.. ....................GLUG... Da da dah .......da da dah da da dah.... da da da da dadum....near, far, wherever you are, oh oh Eric my heart will go oh...ohhnnnnnnn
Hi Eric.....if you sell up here good luck elsewhere buddy.....be the end of an era but don't blame you mate.... out of what would've been close to 1% of the shares & was a significant wedge I've only got just under 14m shares left in here now..... sold a couple of largish batches at a not insignificant loss...... I'm gonna probably hang on now - can't see the point in not doing so for me....I've lost what I've lost here & have accepted it - if it doubles from here I'll probably cash in then but otherwise it's just bits of toilet paper.... GL
That's exactly the point Eric. They say that they will spend the winter months mapping molding ideas and modeling. If that's the case the spring summer and autumn months should be about drilling programmes. Not three weeks of the year. It's costing more in wages than drilling. That includes the reduction in wages, which shows how little exploration is actually taking place. They are not being serious about running this company or looking after shareholders interest.
No mention of further work on Mutsk this calendar year. Winter hibernation coming then. They haven't an idea of what to do next, so do nothing. A more extensive drilling plan could have been undertaken this summer, but they needed the cash for the earn-in. They should have and could have raised more funds at a higher sp. Silverton has to now yield very promising results this year, or the next fundraise will be even more diabolical than the last. Good luck to those who are sticking with it, but I'll be off in the next week or so. Best regards to all, whatever you decide to do.
Yikes.
Terrible .....
Looks like hibernation time for Mutsk. Paperwork for the 80%, but that's it. Zero commitment for a JV. Now to spend what little it left in the kitty on helping Birdy out as Silverton. It does look like they have reduced their wages to about half though........ But with no JV and No feasible asset in the will be at 350K in 6 months and diluting again. Time to get out!