The more I read that RNS, the more amateur it looks. Some bloke who is an "entrepreneur"..Really? What is he going to add to the mining process? Why are we adding another fat salary? Really annoyed by this news. Shareholder value is nil here and these guys are drawing more money. Make me sick to think of the £££££ I've wasted in this venture. This is one of the many BOD on AIM that are having a laugh......
It would be nice to understand what the strategy is behind our new 'entrepreneur'. In respect to Deli and any long term plan, this company is at the start of any mining journey, try and keep two assets of which both are not operational is silly, especially when you have no cash in the bank. To add another non-executive director to syphon the money out of the business is crazy. Are each and every one of the exec and non-exec really adding value to this business, commensurate to the cash value they are extracting, now or in the future? They are pretty accomplished at saying "we don't know what to do" evidenced by the need to beef-up the chairman's profile recently. according to Adam this new appointment will add "deep sectoral and international experience to the Board, which will help support the Company's next phase of development." We don't know if that is good or bad because the "next phase of development" has not been communicated. But here is a given, if this share is consolidated in the next year, and if you have not already, Run! I brought into this share because of Deli, now I think thy should sell it to at least give Ore an opportunity make one asset operational, that is of course assuming that no work is being progressed at Deli. My confidence in this business is now almost nil, though the opportunity is great, perhaps it just needs a strong management team, who are willing to hold each other to account to perform. Right now, too many heads, too much cash leaving the business, too little communication, no clear direction.
I must admit that when I saw the word 'entrepreneur' rather than 'gold mining specialist' I wasn't too chuffed. Have to see what he can do though, but as this share has been diluted enough already, I dread to think. I am still not pleased that Deli is deferred after all this time in favour of Mutsk. That's why I would have preferred our cash to have been spent on a salaried mining specialist, to get Deli going. As Venus is a non-executive director, what will he cost? Be nice to know what his fees are. Would prefer a salaried role, so we could keep tabs easier when viewing the yearly audit. Bah!
You smile every time you think of this share - you must be nuts, or you shorted it down from 1p. The only other person smiling is the new bloke who is now siphoning away further cash from shareholders, because the bod as it stood has admitted it didn't know what to do. Think I'll sell up and move the cash into bmn, much better investment, and put this one down to experience - a bad one.
So am I reading this correct? the current BOD are out of ideas so have employed a younger "entrepreneur" to show them what to do..!!! They are correct though this company do need a new Director but they need a Director of "Picks and shovels" that's willing to start working!!! but having said that this is one of my favourite companies it brings a smile to my face every time I think of it...!!!!
Jibber "The firm is also an investor and adviser in the natural resources sector".....time will tell I suppose. Count Do know what you mean, down about 75% on paper......still feel this will come good, couldn't get much worst! Lol. DD
another fat salary whilst this share drifts. dreadful. probably the worst investment any of us have ever made if you've been here since the mvc and over 1p days. not worth selling. not worth adding. I wish there was a way to not see this share every time I look at my portfolio. constant reminder of the bad side of aim.....
"a global investment and advisory firm, specializing in shareholder finance" Another mouth to feed with no income, IMHO, get ready for the consolidation then dilution of the shares. Not a happy bunny, right now!
I know the market hasn't yet recovered, but didn't think we would see these sp levels. It may have something to do with the slow progress here though, and the Company seemingly switching the focus away from what was our main focus for almost four years at Deli, to the perhaps less anomalous and more easily accessible Mutsk. That may have quite rightly raised a few eyebrows. People have waited a long time to see if Deli is as good as first thought, but we still don't know, after all this time. Not an enthusiasm builder for some of us long-termers who have stuck with it since the MVC days. I know Deli is still a live project, but it now seems to be a lesser priority, which is a pity, as well as it being a bit of a sickener, considering the amount of drill sampling undertaken there over the last few years. Putting your flagship project on hold doesn't seem right to me. Anyway, all only in my opinion of course, but the sp tells me that perhaps some investors have simply become tired of waiting for real progress with ORE and have moved on.
We just have to hope that the exploration at Mutsk is a faster process than it is with Deli and the Company can finally bring shareholders a bit of cheer. Great grades there will suffice for starters.
Yes the eerie silence of uncertainty and concern. No need to turn the lights out as we are already in the dark! We need some exceptional news to turn this little lot around, but maybe that's what we will get?
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