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Dee, you are emotionally invested. That post is flawed on so many counts. Kabunga left the party years ago. Check the sequence of RNSs and the SP as he sold down. Matt even called in his CLN and issued him millions of additional shares to further sell down. Perhaps you weren't invested then going by your posting history. Matt has been investing in Kabunga's companies with ACP funds, bet you didn't know that or are you being duplicitous. You're clutching at straws. The dilution is unpalatable and you know it but can't bring yourself to say it.
One Final point RHT99:
Do you know Jim Price?
You both seem to comment on the exact same shares. Him on Twitter. You on here:
ACP
MXO
STAR
AST
WSG
This is the one thing I hate about some of these forums. Anyone with any agenda can say what they want under a pseudonym.
Amtech - Great find on the other thread. I'll have a look at it, too.
RHT99 - Very pessimistic, which is fine.. But quite incorrect.
You're saying he created an exit for Kabunga? How? By being silent? He could have ramped for the past 2 years to create exit liquidity.
You're saying there's a fundraise: First one in how many years? Remind me the last time they went out to market?
You're saying MB's trying to keep his salary going: So he's paying in £100,000 to then pay himself £100,000. Factor in taxes etc, he's losing money with this argument.
If Kabunga is so smart, why did Volt Resources (Kabunga's Graphite Company) just announce Death Spiral Finance last night? That's what you'd prefer?
Clearly discussions with Tanzanian Government are taking time. Clearly from the progress update, it's holding things up.
I'll wait to see the ins and outs of this Silver project before jumping to conclusions.
if you're concerned over your loss here - Sell out, and put in all in BKT. I mean, that's heavily down too, so you should see parity in gains.
What do you think Dee, you’ve put your money into this?
PIs need to stop being gullible. It's black and white in the RNSs, they were saying finance is imminent when it wasn't all the while insiders like Kabunga were selling. He created an escape route for him and then shafted the rest. We just witnessed a fundraise of $650k at 0.7p yes 0.7p WITH 1 for 1 warrants, this is madness. The biggest dilutory placing they've had in years. Overhang of shares to churn is going to be huge here as warrant holders will want to diminish their risk as much as possible.
Thought it but didn’t post it
Dumb decision to invest. Shareholders need to bring Matt to account and organise a vote off. He will either proceed with this investment which will involve larger cash investments to complete acquisition, money which he will raise via subsequent placements or he will pull out before option period expires citing an excuse and pocket the cash for working capital. The company's cash resources are finite and this raise gives them money to go for longer and pay his salary. He needed an excuse to raise and the asset was just that to placate investors.
They’ve only got an option to invest at the moment, they have until 31/12/24 to make a decision.
The board has massively messed up here. Clearly the prized asset of Mahenge with great economics is no longer viable. The reality it hasn't been for years and the board did nothing about it. Following SP decimation they just issued a significant amount of dilution with ridiculous warrants to shaft long term investors. Kabunga escaped through the back door as he knew what was going on whilst the board continued to RNS imminent finance which never came. New asset requires more cash and a lot of it for a non generative operation like this. Shareholders will be paying for it. This will now become a dilution pit like VAST and PREM. MB credibility is shot and there is no way to dress it up otherwise.
Anyway some digging Peter Major founder and 2nd largest shareholder in aai (as posted by Ohnonotanotherone) went down the joint venture route for Canyon Silver mine in March last year with Social Investment Holdings Inc based in Maimi.
http://edgar.secdatabase.com/1737/147793223009123/filing-main.htm
All I’ve found upto now.It’s in all that lot for your perusal.
Whoa that’s some wonga invested into an aim company in Africa Dan. Hope you can claw some back.
That's why Africa doesn't get investment.
Must admit haven't posted for a long time as there's been too much "prattle" on this BB. I apologise for any offence taken, but let's be honest, it's been moans and groans for at least the last six months (entirely justifiable wrt the famous imminent comment) - but would suggest we need to consider the basic facts again here (just personal opinion - DYOR etc). Thanks Wasa for your input.
1. I'm actually pleased about today's RNS - at least ACP have been active in some context.
2. The strategy at first glance appears to me very similar to the Mahenge project - explore in a nearby vicinity to other deposits - fair enough
3. I find it interesting that the location is in America and not in their own back yard of Australia. Read into that what you will but I understand MB has a geologist background hence I would like to think he's done his homework on this prior to committing his own money.
4. ACP is an investment company/trust? - The mines may someday get to production stage but always remember the possibility of sale to a third party. The IRR of Mahenge I think was about 90%, I would suggest an extremely attractive figure for a potential future mine producer.
5. The RNS today, which I'm surprised nobody has picked upon, but under the Subscription raise £650K it includes the comment "as well as continue to advance the Mahenge Graphite Project" - take again what you will from that.
6. Do I regret investing in AIM - definitely yes - would suggest all about sentiment and probably traders? - yep no imminent progress/action, but have the real underlying fundamentals changed at Mahenge?
Finally, yep lost £20K in HZM (my personal view is such a disgrace and it's effect will filtered into the wider AIM market), was fortunate to bail out of GRL at an early stage (only a minor loss), £75K invested in ACP (average 5p) yep huge loss but I'm actually happy to sit on that and wait - sentiment one day may change.
Happy for any feedback on above comments - that's what this BB is for, but will not engage in any arguments.
...so it can't be easy, is my point. Or a much bigger company with already the biggest graphite trading co in the world ex China as a shareholder would have built their mine by now?
Ask John de Vries. Here he is 4 years ago;
https://www.youtube.com/watch?v=wPqmlB76G-g
45 seconds in:
"And now we're engaged with the government of Tanzania to secure our final development permits once we get those out of the way we're into financing and hopefully pouring concrete and steel."
AFAIK they don't have financing secured (fully) and haven't poured concrete and steel. And they / were / are ahead of us, apparently.
Blah. Blah. Blah.
What happened to Mahenge graphite?? Dead and buried. This outfit has no focus he must suffer from ADHD.
There's obviously going to be a follow up RNS.
Rover, I do think we'll get that info in short order. I think the deal has just been secured more info will follow.
I know where it is, but still none the wiser as to the company or the mine, or more impotent potential.
We just have to trust Matt. 😱
Building up a portfolio of stocks is sometimes about letting them ride, initial, profit or both. I let mostly profit ride here, my initial went elsewhere to do the same. All on the back of MB/NJ misleading RNS (there is no defence for their actions). Yes I should of sold what I had after it became apparent they mislead the market but these are experts in their field in a (sighs) regulated market and everything was ticking along. Never trusted him since and won’t again, so thought might as well leave it in now and see what happens. As it turns out, nothing barring £30k extra out of shareholders funds in his back pocket. So this new venture and a raise for it could well suggest that the ‘other’ investments ain’t doing so well or he’s expecting a lot longer wait that he previously thought on the Tanz project if at all. Who knows.
Other thing about trading (from somebody who does it) is it's sometimes more efficient not to do it in shares but do CFD etc but then you have carry costs and if so I just wouldn't understand why somebody would sit years underwater on a trade with ongoing cost. Part of the thing I like about shares is even if I have a 7 figure portfolio (I no longer do, but I once did) my regular fee was like a tenner a month. As I understanding keeping a cfd alive for years is like a real pain
Ok so your trade went wrong, I get that too. I'm not a trader (hence losing money because I held too long - so not necessarily disagreeing with you - I could have sold my Horizonte holding for 7 figures starting with a 2 at one point) but my understanding of traders is they exit when losing because they get the fact that you're unlikely to get it back fast and usually there are better opportunities elsewhere? So part of a traders mentality is trying to make more wins than losses and I totally understand that strategy even if I haven't practiced it myself. So in that context I don't understand why you wouldn't sell here, take x loss, try to make 2x on the next trade on something better.
Hence why I believe AIM is not for investing it’s for trading. CEO’s aligned with shareholders means nothing, just like us they are in it for themselves and will do whatever for themselves.
But you're literally posting because you don't like him (I can't remember why and probably none of my business). If you were invested, and wanted your money out, you wouldn't talk him and the company down surely? Because that would mean you couldn't extract your £ invested imminently?
So I don't think you're invested, you got beef to grind with him, I get that, I got that too with JM at Horizonte because last August he said on time on schedule nothing to see here and 6 weeks later when away on business I'd lost £800k I could never get back. So I get why people don't like certain people, it happens.