GRL has a project next to Obuasi -do your research -the huge Anglo mine has been closed for months over run by illegals with an application to the international court. As usual Bell is in hopeless jurisdictions with sus deals like Kenya - presumably a mine in Syria is next !
cgm - "That doesn't mean it can't recover though. A lot has changed"
BOD still taking salaries despite dire performance and making a loss year on year
BOD still requesting authority every year to dilute massively
BOD still diluting and issuing shares at discount to prevailing SP
BOD still talking the talk and not walking the walk
BOD still spreading the available money thinly across lots of projects/ventures instead of making one, just one, any one, flourish into a huge success.
BOD still setting up joint share holdings in other companies (You hold my shares, I'll hold your shares etc)
What has realistically changed? Some cost cutting yes, shed a few employees, reduce office costs and some attempt to establish revenue streams with the ultimate hope that running and project costs will be covered and dilution won't be necessary, however I suspect we are a ways off that point yet.
I'm still not seeing any revenue figures for El Limon royalties I'm still not seeing any revenue figures for LM20
If they were in any way significant I would expect AB to be shouting it from the rooftops wouldn't you?
Nope, for the moment the overall Modus Operandi looks pretty much the same to me. Lot's of sound bites and jam tomorrow promises but thus far little in terms of published financial substance. For what it is worth, I think the change in strategy was the right one, but I think it will take a long time before the company is able to recoup its project costs and put an end to dilution here. Happy for you to believe otherwise. The markets however have consistently failed to send this SP skyward and my instinct is to believe the markets rather than the "recovery" hype, at least at this early stage.
The potential in our holdings in MTR has now fallen by 40%. The potential in Elephant Oil is now pretty much worthless. Just like the RGM deal at Horse Hill and the potential that was staring him in the face with Jupiter, he just doesn't have a clue. You can bet your bottom dollar Johnson would have taken the money and run!
That doesn't mean it can't recover though. A lot has changed. Why not try looking at the positives instead of always trying to bring the share down mr magic? Is it cause that's what you want? Oh yea it is! History of just bashing the share. It's called recovery play and Rrr is starting to shape up nicely much as it hurts you to see that!
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