I understand your frustration and I share that with you, because I have been burnt here too thinking a much faster movement here than anticipated, however this is sadly the reality of AIM and we are lucky that HER has some true outstanding assets to keep us where we are today, otherwise the situation would have been much worse I would say, despite that and despite the recent deals I truly believe we are under valued by at least 100% as things stand today. I can't agree more that Lind deal was a mistake and I said that many times, and I repeat that again, it was like a school boy mistake which cost the company and shareholders, I still believe whoever sealed that deal should be fired, and I don't fully blame GS, the financial officer who should know his number should have picked that up, and it was in fact easy to spot, anyway Lind deal is not disaster but could have been done far far better, so hopefully a learning lesson (again) for the team, while the shareholders can forgive they can't see the continuous mistake like that and I hope they are more careful next time.
as with regards to OZ, and Lind, I disagree that asset transfer is by any means put HER in any massive disadvantage considering the details of the contract and what they gain for it, farm out/in for small capital like HER is the only way forward and many miners of similar size with fraction of good assets like HER done it successfully and managed to add value to shareholder, however that did not happen over months but years of patient.
I said that before and I repeat that again that I would like to see more finance in place fairly soon and hopefully this time with another respectable financial institution like Goldmen, etc they have to explore the miners and they have now got to approach banks who are willing to invest and support this project and lend them money to see through the next phase, of course loan comes with agreement of future asset being sold and transfer to them (off-take agreement). but this should comes within the next 3 months at most otherwise Lind and Oz will eat HER a live, we need some heavy weight on board to balance the power here, someone trusted and someone who is willing to back HER up all the way to production, at the moment we don't have that.
I also like to see very fast movement on licence front for open pit operations, and some solid plans with no missing any deadlines, GS recent involvement in media should continue at least ONCE every two months (not more frequent ) and we need to start giving presentation in large venues to attract investors and raise HER profile, I think GS is honest and somehow very naïve to get involve with Lind, now they are on board GS just have to work with them closely for the benefit of shareholders
I hope this makes sense, where is my good mate Corb?
all the best, and don't give up yet, because I still believe HER is good, unless something fundamental changes, but we need those finances in place VERY SO
The board has gone quiet.. I think the penny has dropd here that with this kind of DILUTION Management our sp is going nowhere. Patricia should be in production next year on a proper Finance package.......like wot other Miners are getting so we can get our snouts in the trough.. With this income stream we can start financing our selves........like drilling etc
North River Namib Prospect makes an interesting comparison. Feaso just about out ( in a couple of weeks ) expecting initial 8yrs production @ 10% Zn/Pb content and they already have Finance in place for production ( £18.7m ) and are offering £8.9m profit for 2015. Mr French (MD) has 90m shares and other Directors have 30m and 23m shares of a Capex at £7m. There's commitment. I am sure Mr French goes to work every day focused on furthering the purposes of North River Namib Mine cos he owns 6.5% of it. He clearly considers it a worthy investment and he will work hard to get the Mine feeding at the trough asap.
So how does that stack up for HER.
Patricia ? Looking like its getting bogged in planning and permitting. ( We wouldn't expect these kinds of delays in ................ '' a Mining friendly country '' ) No finance.......not even talk of Finance...........with Mining decision looking as though its heading for delay. Guam.........90% Given to AN Other over 5yrs.........actually for a very poor price and that's no cash to us Picasso ? Is this taking effort from Pat, to become the priority. Is it seen as the first to production with Pat delayed for year.? Will Picasso get 1st Finance. I hope GS tries harder to get a decent deal but we will look very carefully when the time comes. We havnt gone for finance from shareholders or a Loan from a sensible Finance set up. Instead we have the rip off Linde deal where they have already got themselves 10% of HER for a pathetic pittance. We have months to go yet after which Linde will own 75% of HER.......... SP going nowhere whilst we have Linde sucking us up. No invester will buy into this kind of on going endless dilution. How about that for DILUTION !!
The Antipodeans seem to expect to pick us off for next to nothing under the stewardship of GS.
Why doesn't our MD consider HER a good investment for himself. That is a serious question as he does have a reward in mind. Well because we have endless massive asset transfer to Linde and Oz to look forward to. . What is it he expects as a reward. I mean he is a mining man.
Any suggestions from anyone as to what GS thinks he will get for arranging such rotten deals which are resulting in transferring HER to Linde and Oz........
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