The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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But i doubt they'll get an answer: why have there been two placings for the same drilling and roadworks, considering at least one of them benefitted Fryer and his 'insider dealing'. or is he going to say he never knew about the placing until the last minute?
trouble with this share is folk are now too scared to ask real questions for fear it'll harm their chances of getting their cash back so have to be complicit to whateve Fryer does.
I suppose as long as he recovers the share price he'll be forgiven. he'll probably have rerate his 10p warrants down to 5p first, though! (joking... or am i!)
I'll leave you two to chat as can't be bothered speaking to the uninvested who troll this board posting anything negative they can find with half the facts
Just for the avoidance of doubt - every single piece of information in my post is in the public domain. I have no special or inside information. All the information is out there if you look for it.
I didn't want to bring it up but the US debt recovery by M+T bank was what i was alluding to.
when i said 'i read it somewhere' i just didn't want to be the person posting that news. i have friends and acquaintances in this still and it pains me that they bought the t-shirt when so many things have failed to materialise.
I woul say that pi's have been taken in totally by someone who has manipulated and deferred progress with all sorts of 'reasons' while chucking out carrots like US funding when the company is really no closer to that funding than it was at the beginning of 2023.
for all the stupid ticket stub pics and similar, all that's really been done is destruction of pi investments, the mass selling of warrants that have been resturctured to make them easier to profit from, some clay brickworks and worthy academic tuition and... some drilling from back in Sept. but, to my knowledge (sketchy on this one), can XRF results be used in a JORC or does it need formal testing? not heard, afaik.
only person benefitting atm is Fryer, who sold his stake to himself as CEO, paid for by investors.
needs to get his act together to realise the faith he's squandered over 15months.
The talk of US funding, grant aid or loans, just seems bizarre to me.
Russell is being taken through the courts in the US for one of the companies he owns (Baobab Physical Commodities) failing to repay a previous bank loan( to M&T Bank). It's not just the company - Russell himself is named as a defendant in the proceedings.
Baobab Physical Commodities is a subsidiary company of Baobab Asset Management (also owned by Russell). CRTM owes around $1m to Baobab Asset Management, following the buyout of Madini Occidental (part owned by Russell) by CRTM late last year.
So there is a close and unfortunate link between CRTM and the company being taken to court for non-payment of a bank loan.
I've no idea on the details of the case - it might be totally invalid, might be thrown out of court, or Russell might win. Of course, anything is possible.
However, if someone in the US government spends even 15 minutes doing basic background checks - it seems very unlikely that they would have the risk appetite to approve any financing given these connections, especially while the case is still running.
Kat, I agree, timelines have been crap however as per Korriban's post and mine I still think this will end positively
But yet again you spout rubbish on here and no doubt anywhere you can
Has Russell broken any rules? I don't but if has I'll leave it to the FCA to pick this up
"i read somewhere that the friday rns related to a debt he had to pay to the banks from his Baobab company?" Must be true if you read somewhere!!!!! It isn't
For me, if he was selling while the stock was going up and he made gains I'd be annoyed- he didn't he sold on the way down and had no choice but to take part in 9.6 raise as it's written into his contract. If he wanted to screw us he would have sold at an average of 10p (which it was over all trades so 9.6p is hardly a great return anyway) and then taken part in the CLN at 4.8 doubling the holdings. But you don't mention this do you
Basically he has chucked most of what he has into CRTM to the point he needed to sell some shares to pay a bill. Yes, if he'd have hit his own targets then I doubt he'd of had to but we are where we are and I refer to my last post around what we need next and it isn't idiots posting lies
Both valid & plausible replies. If progress is made & SP rises all of this will be forgotten about imo. Agree Kat some progress needs to be happening sooner rather than later after FRI rns now. However if I was backed into a corner & ask over the long term do you think the company will achieve what it set out to achieve I'd still say yes given all I know. However that confidence has taken a little knock won't lie but I continue to hold.
Those are all the same targets as per 12 months ago. the difference is the total loss of belief in the ceo for his honesty in dealing with the retailers.
from having fake names in tg's to punting the same, endless stories about US funding to the principle two big mistakes: the lack of any sales (which might hide several reasons beyond the obvious one) and the very suspicious funding (and repeat funding!) of the drilling and roadworks. his conduct from Friday's rns also throws suspicion that he's playing for personal gain over and above pi's. i read somewhere that the friday rns related to a debt he had to pay to the banks from his Baobab company? no idea why he needed to sell shares in CRTM unless it suited his then buying cheaper on that dubious first funding for drilling and road? i doubt he'll ever make a formal statement but just trust that some 'good' news will hide his activities. but it's nearly May and still no start on the road... which means 60-90 days to completion which means Aug to first delivery... assuming there's not going to be another explanation for another delay!
it has been the most tragic investment of the last 12 months.
We just need to change the general investors' perspective of this stock and the only way that will happen now is forward momentum through news, actions and delivery
Road started, Jorc started, US listing, US money, Jorc results, stock off-take, plant news, production started etc etc
So much potential which just needs to happen now and hopefully, these dark days will be behind us 🤞
Many selling as I thought they would Monday morning off the back of Friday's rns will probably be the ones buying back in when the SP rises with less shares than before. Always happens with investing/investors. I'm betting mm's play this game today, let's see
That last post is meant to end with -
then SOLD shares at 9.88p on 9th January.
As someone on Twitter spotted - he sold shares on 28th November at 14.03p, 14th December at 11.08p, and then bought shares in the placing 8th January at 9.5p, and then shares at 9.88p on 9th January.
So now, in a Friday evening after market RNS, Russell discloses that he’s been selling shares since November 2023.
On 10 different occasions.
And didn’t feel the need to disclose it, despite being CEO.
During the whole period where there was hardly any real news on road and processing plant, and whilst the share price was in free fall, he was selling.
Sold them to pay a “tax bill”.
You actually couldn’t make this up.
I can’t wait to see what the next announcement is.
Can't see what's happening ? So Russell didn't say at the AGM that he needed another 500k for the road and drilling?
And I'm thick lol
But don't let the truth get in the way of your BS mate
"It astonishes me how people can be so thick they can't see what's really happening or maybe they have their own agenda rather than actually considering the wider optics of a situation
Reduce warrants or do another raise to dilute ALL current shareholders "
So, what does it say when a company does both, including duplicating a placing from only 3 months back and, apparently for the same reasons?
what would warren buffett say about that!
Maybe next time you'll take the great mans advise ;^)
"Warren Buffett once said that it's wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful.” This statement is somewhat of a contrarian view of stock markets that relates directly to the price of an asset. When others are greedy, prices typically boil over and one should be cautious lest they overpay for an asset that subsequently leads to anemic returns. It might present a good value investment opportunity when others are fearful. "
I hope that everything Russell says comes to pass as i've no desire to see anyone out of pocket, least of all, me. so if the actual circumstances change i'd be happy to throw some of my lot into this again but there's an awful lot of trust disappeared, as least from my prospective.
for the rest of you, keep that faith, if you believe, and i hope you get back all the losses and multiples more.
What i know is when somone states a face but omits the rest of the facts: 'we like to be producing about 12months after purchase of the asset' so started producing in Jan '23. really? how much of 10,000 tonnes per month has been sold, then?
he said there's 9,000 tones on the pad (i thought it was 6,500 but benefit of the doubt) then says 3 x 40tonnes were deliver to OM Metals... so 120tonnes!
now will take until... July before ore sales restart. that's not 12months in my book.
didn't say it WAS death spiral... i said clns are invariably place of last resort for funding AND are associated with death spiral financing as the power and control of share dilution with with the clns. if russell has explained how he has control then he should tell every other cln fund receiver because they all, without exception suffer from significant dilution and price drops. i've looked for the explanation of how he has received funds with no disbenefit and i haven't spotted it yet but happy to be proved wrong.
don't recall saying i will sell at 10p... only 10p i recall is the rerate of his warrants from 40p? why would he do that? why not get all the warrant holders to buy shares at 5p to receive the funds when needed rather than waiting for the sp to be a wishful 20+ before throwing in their support? still dilution but the money is needed now not at 20p (or just leave them at 40p or isn't there confidence that it'll get to that price?)
those 40p warrants 'persuaded' retailers that 40p would be blown past, easily. now it's 10p. bit of sleight of hand, i'd say, and now 10p is being dangled in the same way 40p was!
finally, my money is/has been tied up in this, primarily based on 'promises' made by the release of rns'. why shouldn't i rail against the share price and the conduct of the company for failing to deliver on several of the promises made by their rns' or their failure to rpomptly report on progress. did it really need to take 6months to report on Kastro?
why isn't it concerning that the company raises funds twice for the same drilling and roadworks, without being called out for it? i notice it's never been explained and just merely forgotten... was it because the ceo benefitted from it directly?
Roadworks were meant to start in January and take 45 days and company had already been appointed. it also said that only 'part' of the funding was for roadworks. then it turns into roughly 10x that???
you should all stop being sheep and raise some concerns over the treatment of your investments as the last 15months have been nothing short of incompetent... or is that how you expected the company to be run throughout 2023? in which case, why did YOU stay in and not just wait for the 4p price?
i'd say every investor, barring those that enjoyed the 5 and 10p warrants and their extensions have been made to look like complete idiots for trusting the rns' to be factual.
You talk like you know what you're saying is a fact but it is completely ill-informed dross mate and you also contradict yourself which makes you look like a complete idiot
You talk about final gasps to try and get funding and how the CLN deal is a death spiral (which Russell has explained in depth as to why this one is very different with a really small number of trusted participants yet still oversubscribed) on one line and then say you'll wait for 10p to sell which is a full 100% rise from here
If you believe you're own BS you'd be cutting your losses and selling now
Maybe we could all chip in and make up the difference to get your constant ill-educated comments off here
Although, there is talk of more photos happening soon so you'd miss the chance to knock them if you left lol
The drilling costs and whatever deposit was needed for roadworks, was already accounted for in the 9.5p placing. this money is for the unconfirmed remainder plus a bit of 'somethin; somethin' for... ???
I have never, EVER heard anyone say they have 'control' over clns. there's a reason why general opinion is that it's the last port of call for funding.
if he has this control he needs to explain what that means beause i don't see any funder saying 'here's my money... i'll wait until the sp is at 10p before i can get my shares'!
if he's saying he 'has control' over just how much of the funds he decides to take, over a period of time, then that's no different, from what i can see, over any other funding proposal.
personally, i'd have rather seen all those 10p warrant holders decide to buy those warranted shares at 5p and get 'the bargain' that pi's have to buy to average down.
why wouldn't that have been a more amicable route to finance?
"There is no way the cln buyers are going to part with cash until they know that the shares are available. It would be business suicide to do otherwise"
I'm pretty sure cash is in the bank, road engineers deposit made and $10k sent for US listing, drilling starts soon
Is that it Kat??
You told me you had a stormer that would surely drop the price and sentiment..
You've been expelled from our fryer4thefire group indefinitely!