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Degsie, the problem for most PI's (me included) is that we have what we believe to be a rational faith in the potential asset value of a company, combined with a conviction that the asset value will be realised sooner or later, driven by world demand. Unfortunately, with AIM companies, I have come to realise that this is absolute folly. 'Valuable' resources in the ground are absolutely worthless for as long as the management lack the skills to capitalise their assets. When corporate performance is as bad as we have experienced here over the years, it is rare to see any recovery in share price without a complete restructuring of the BOD. I can't see that happening anytime soon! I need 93p to break even, I knew I should cut my losses at 1p while it still had some value, I felt even stronger that I should get out at 8.5p as the s.p. drifted and here we are at 5p. Oh how that 5p party was hyped in the REM days!! How on earth did we get from rare earth minerals and evolving technology to pinning our hopes for salvation on bloody iron ore? Grrrrrrr.........
10p by Friday, anyone?
Ha....... understood LoL... and I take your sarcasm ..... multiply it ten fold & add ladles of ascerbic dislike, distrust, disappointment & disdain of our BoD ....
Now really back to hibernation
Bannor, obviously my sarcasm was missed!.
@Oggy06 .... what in the universe makes you think they sold BCN at a profit?..... they made some BS statement about selling cheaply purchased shares for a profit but rest assured they made a massive (in the millions) loss on the direct investment overall.
Direct investments (unless someone can prove otherwise)
BCN sold at a massive loss
AOU sold at a loss
MMS/MIO sitting on a loss currently
EMH sitting on a loss currently
JV's
BCN unsurprisingly keeping us at arms length currently JV exploitation some years off ...if our BOD don't ruin us first.
HAS again keeping us at arms length with exploitation of JV assets several years off.
Others
St Luis - Joke
OZ asserts - Joke
Amapa .... late & with continued risk
REE (CLY) compensation shares after Leogang fiasco probably sold for a loss who knows?
Of course something could ignite a rise ... sale of JV's at the $200M+ values Kuran said they were worth to us (trust him!!??) or Amapa being the prime candidates however I don't trust this BoD to make a decent cup of tea let alone a decent choice or decision.
...and there I am back with my usual praise for our BOD but still in hope we can make some recovery before they f~¢£ us up completely .... it's worth considering with enough new investors at this level they could potentially sell us now for 22p a share double their own money & leave many here nursing large losses.
Back to hibernation
Exactly Mr J, apparently they sold our BCN shares a a big profit, well enough to pay themselves anyway.
WH Ireland’s report was paid for by KDNC and is a best case guess which we all could do.
And you do realise those shares the BOD bought does not mean they still have them. I would put nothing past them now absolutely NOTHING
You can't build a business on bottle tops lol.
Ivybush. See my posting of 17th copied below. I agrre delay on Amapa is causing concern but there are many other assets and a discount of over 80% from Irelands risked value seem excessive.
Reply from company "
The US$3.5 million is not payable until the Stage 2 preconditions are met this would be after many deliverables that will hopefully drive a positive move in our share price.
@degsie Frankly I am not bewildered. The market is aware we are selling assets to keep paying
loan/admin costs. The longer the wait for Amapa news [completely out of our control] the more
likely the sp will drift further.
I started mentioning need to raise last December and was taken to task but I am a realist and the
market is only reflecting the current cash flow situation. We need action from BOD to address the
need for working capital.
I am suffering like all other shareholders.Very puzzled as to why share price is at this level giving a market cap of £6m. Irelands gave a risked target price of 44p and a unrisked fair value of 165p. I have read through the report and spoken to researcher. Almost any one of investments could be worth more tan market cap. Irelands placev a value on JVs and I can only assume that KDNC provided information. The directors invested £350k at 11p in June and they had each invested as £1000 oer month - total £48k- at the then market price.