I 100% agree, his salary needs to fully reflect the present circumstances, I see no reason why holders funds are being frittered away to pay for his continued failings to deliver share holder value, that goes for him and all his team. He really needs to man up and grow some ball$ and provide clear dates for this transaction to complete as we the share holders are sick to the back teeth of being fed this continuing trend of woolly bull$#it
Bad update in my opinion. So in the space of a week we have gone from Aug to Oct for a completion date. They don't have to pay anymore deposits until Sep 14, when they should have paid now. And other parties probably can only look at data cubes for due dilligence (if that) and not inspect the mine.
Absolutely pathetic - and there will probably be another £200k CLN after this one completes to make sure payroll goes out, with Mr Bell a large slice of that. It will achieve nothing, but I feel as though I want to go to the AGM in December and ask him to his face if he is embarassed by his salary given the fall from 16p to a quarter of a penny.
Yep I tend to agree which is why I queried this. First part talks about £445K. The 2nd part talks about £45K, £100K and £300K separately. I can't see where BAM BAM gets 600m from. The nominal price of shares is 0.1p (AFAIK) so £445K translates to 445m shares does it not?
Regardless the various fund raises this year so far have been:
21 Jan - 76.5m (placing) 24 Jan - 30m (2013 CLN) 30 Jan - 11.3m (SIP) 24 Feb - 40m (2013 CLN) 04 Mar - 21m (DS private placing) 21 Mar - 53.4m (2013 CLN) 07 Apr - 15.7m (SIP) 30 May - 39.7m (2014 CLN) 25 Jun - 75.3m (2014 CLN)
The above totals approx 363m
There then remains approx £260Ks worth of the current £550K CLN to convert, which at current SP (0.26p) would be another 100m shares or so taking us to 463m shares.
So I'm a little confused. Is it possible that some of the shares in the above list are not applicable to the yearly allocation? But either way we seem to be close to that 445m figure. What are we missing?
His theory is that at the last AGM, authority was granted to issue 600m shares between then and the next AGM and that about 468m of those are already accounted for in 2014 issues and the current CLN. Personally I'm not clear on the numbers as there are a lot of different numbers mentioned in the AGM PDF so would be helpful if someone could clarify. PDF here: (http://www.rrrplc.com/files/5313/8485/9601/_0_RRR_ar13_NOM.PDF ).
If he is correct then this is an area to watch imo.
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