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Good morning.
I thought it was a honest and frank interview and can sense Marks frustration in the time it's taken to this stage, the markets recognition of progress and resulting share price, Mark commented on doing thing by the book, thus to reduce as much risk as possible, but the downside is the extra cost and time, i do feel he gets too much negativity when all he has tried to do is the right thing at any given time, especially in a sensitive and not so straight forward Country.
I can't knock him on the amounts of interviews he does, he really does try and sell the company to raise interest and the interviewer seemed to recognise this.
I was also interested regarding the toll question and his response, if he can achieve this, and i think it's close, then it is a gamechanger in regards investor sentiment and the companies direction and we would see a far better share price as a result and jez we could all do with an uplift after day's of watching the price drop.
I am so tempted, but markets are so uncertain with new covid Omicron i am not sure where the bottom is at present.
I wonder why the pontificating deramper in chief failed to mention First Majestic’s view on the share price. You will remember they did due diligence on Condor before taking shares at 50p as payment for half the Sag Mill. They are a major mining company who understand mining and Condor. FM said they believe the shares are worth double what they paid now so that’s £1.
Perhaps it doesn’t suit your deramping agenda whereby the shares won’t go up anytime soon!
Johngle ,a couple of lth posted recently to confirm that in hindsight that my posting of three or more years ago wasnt as they had thought ,de ramping but more sensible than much of the blind faith posts here and Barnard apologised for some of the things he said back then which is appreciated . That takes a much bigger and more sensible man than the likes of icb .
you are buying at a decent time but you may well see lower prices yet.
The toll deal possibility is the joker in the pack .if it is agreed the sp is most likely to rise sharply . If it doesnt happen and we head to financing mid next year without it its anybodys guess what the sp could be. However it also depends what timescale you are investing for. My last sell was just under 36 p and may buy a few back soon if there is a further drop under 30 p just in case the toll deal should be anounced in the next month or two. Good luck .
Seingred - I've seen quite a few recent comments that you're a deramper. I don't think that this post is the post of a deramper - quite a pleasant, balanced interaction.
Jongle, decent time to start buying ,could go lower yet . A toll anouncement will give the sp a decent lift .if not after funding should see decent movement. Good luck.
Nice one Johngle!
Look at this weekly chart going back to 2011:
https://www.tradingview.com/x/haLWrDmB/
Each major run up conincided with large, sustained volume. It's common sense really, but if we want the share price to increase now we need volume and lots of it! What's the kind of news that could generate major volume? Certainly not positive drilling results! Perhaps news of FS being published, toll milling agreed, mine financing finalised? Q1 2021 we will see!
Thanks - just got another 32k shares at 31p. I wonder how much I'll be able to sell those for in 6 months ?
Please can somebody sell me some more shares
Yes, I agree , good post. It's annoying that the SP is drifting, but gives a good opportunity to top up. If people want to sell at this level, more fool them. It may drift lower, but I'm confident that as a longer term play this will be worth a lot more than 30p a share. I've just bought 50k shares at 30.5 and can't buy any more.
Excellent post nero120. I entirely agree with you and it’s good to give both barrels to the negativity and deramping we are seeing too much of on this bb.
...of it!
ISA this reasoning i do not understand at all, and smacks of conspiratorial thinking when the actual reason is simple and obvious (hello Mr Occam). First of all, exploration companies need capital to fund operations, primarily they get this capital by issuing equity, unless you know of a billionaire who's willing to hand over tens of millions and receive nothing in return? Secondly, the idea that Mark is purposefully diluting his own share holding (his life's work pretty much) just to give his billionaire "mate" more equity at less than the market rate, and in the process not acting in the best interests of his share holders, when he could simply go into the market and raise money at a higher price is ludicrous. Not only would that be acting against his own best interest but also it is a dishonourable action for a man like Mark, I just don't think it's in his character. As for warrants, watch any video of Rick Rule on youtube and he will tell you that he loves investing in juniors and the warrants are a big part of that. It's just a part of exploration company placings, accept it and move on.
In my opinion, Jim gets first dibs on the equity because he's supported Mark and the company for the longest time, probably paying a premium as opposed to getting a discount. As Mark said in the webinar, if he could have gotten a large producer investing for tens of millions he would have loved it! Most of the complaints here are that progress has been too slow, and in fact Mark confined my previous explanation that this is due to having to manage scarce capital. Perhaps in a bull market that would have been different.
I thought it was a good webinar, progress is being made and we are nearly at crunch point when the BFS and financing will occur. Btw, about four of the questions at the end were mine! I don't know about you, but I got the impresssion (from his very careful answer) Mark was essentially confirming from his answer that toll milling would happen (with Calibre) once the logistics (infill drilling, geotech, etc) have been dealt with. We'll see if that pans out. Also confirmed, don't expect a larger resource when the MRE is updated (sadly).
Mark also confirmed that they have made mistakes. The initial decision to resettle set the company back a few years, a painful mistake at that and one which he takes responsibility for. It just goes to show that investing in exploration stocks is risky indeed, we lost four years but could have lost much more. He also mentioned the political issues in 2018 but I would hardly hold him responsible for that. I am very much in agreement with Mark that the company needs cash flow asap, whether that is via toll milling or using our own mill. He even mentioned that drilling on Cacao had been postponed since the market was not rewarding any new discoveries, good call IMO. Let's get the BFS out and funding secured. This market sucks (investors only want to chase the easy money) so let's no longer be at the mercy o
Hmmmm Mark said all the right things, yes we are progressing at pace and I have no doubt we will get to production….however…why does he keep going on about how we are under valued versus NPV
He mentions First Magestic thinking we are worth double the 50p they paid…
If this truly is the case why does he keep diluting us on the cheap and giving warrants away unless he is looking after his mates along the way??? Jim is very supportive, you bet he is buying in at 35p!!
My only comfort is I can now but in at 31p (thank you Mark) and yes I have a low average SP yet I still feel like I have been shafted, and if I was a long term shareholder with high average I would be gutted!
Mark you have done nothing to protect the individual investor!!
Ps I am not deramping, I know the shares are worth more than 60p let alone 30o yet Mark you have looked after your friends, not PI’s
Cheers Nero. Pretty chunky 440k share sell mid morning.
Interesting Mark talked about getting re-quotes on trucking costs, explosives etc for toll milling. Mark thinks a toll would be good for the company.
Mark reiterates importance of trying to keep share holder dilution as minimal as possible. Once the fs is out, it will be easier to get finance, whether that means a bigger %, who knows. Also reminds us we are likely sitting on a 5m oz deposit here.
Frustrating the shareprice is where it is.