George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Thanks Kinna, so you had about 500k of shares that you've been selling. I understand your frustration - I'm sitting on millions and although I'm not ready to dump this share, my confidence has certainly been rocked. I do think the project will go ahead, which is ultimately why I'm staying put. The concerns I have is dilution and timings. If Hanno arranges a loan for $500k then dilution will be minimized and the sp will respond +vely as funding is no longer an issue until Q2 2021. Easy fix if he has the sense to follow this route and arrange the loan sooner rather than later. Once done he can let us know the position of GE. If bad news we're funded long enough for an alternative partner to be sourced and the project moves ahead with a couple of months of slippage. If GE stays then we get the double bonus of finance and technology partner sorted. SP will be back in the 5's. Any other +ve news such as historical costs and market study submissions and we're back up in the 6's. Tariff approval and we're off to the races. We're down here because of GE and funding concerns. Both can be dealt with if he has the good sense to sort out the funding through a loan. And ideally a loan that has Haworth and him involved. If Hanno wants to play CEO he needs to start saying the right things and making the right decisions i.e. not at the expense of LT shareholders. Sort the funding and the rest will take care of itself over time. If he lets this drag on and is stupid enough to go down the capital raise route then shareholders will move on as they'll have very little confidence in him, which would be understandable.
Been dumping around 50k to a hundred a day since this news broke. I felt sick. As usual even with a stop set at 4.2 they sold around 3.8. I bought in 4 years ago around the 4 to 5p range. Then bought more at the 6 or 7s. Once it hit 10p my investment here was worth 52k in real money. Instead of being sensible I thought "This.may only go higher". Stupid move. My own fault entirely. At that point investors and MMs had confidence in the project especially with GE on board. Through missed deadlines, lack of communication from a CEO who effectively worked for us it started dropping. Then rising a bit. We realistically visualised a 26p share price by now. Then news of our money being used for other projects leaked. I have lost the equivalent to a few Mauritius holidays & a couple of decent used Range Rovers here. It eventually come down to instead of speculating my adult head kicked in. As in "how much can I afford to lose"....Hanno is probably collecting a lovely salary off our backs. One thing I have learned is that even with a stop in place , does not guarantee offloading at that price. I feel no confidence at all now. This was going to be like a lottery win to me & others. I have invested for years. I fell in love with this share. Big mistake. Without all this news once valued at 10p plus. Now investors, MMs & the silent few like I was for years have lost confidence in Hanno & this idea. I only piped up because I saw massive red flags. There was a very skilled investor years ago called Lurker who used to post. Wish i had listened to him now. I never posted before before as I neither ramp nor deramp. I just do not like good people like us filling the pockets of CEOs....
Hi Kinna, out of interest how many shares did you dump the other day if you don't mind me asking? Again, sorry about your losses here. I know the feeling (on paper at least).
I get the frustration and agree re director buys but letโs not lose sight of the positives.
Well said. My sentiments exactly. Maybe I am bitter. I made the mistake of becoming emotionally involved in a stock & being dogged for over 4 years with it. A CEO who will not invest his money in his own company yet uses OUR money for his brother is going to lose confidence with the MMs & investors like ourselves. He is not CEO material. With contact made already he could either confirm or dismiss GE with a few phone calls.
Chris, we're at support, which is why we're bouncing. If Hanno delivers one more **** piece of news we'll break support and end up in the 2's. That's the sp that says no-one believes in him, or the project, or his brother's project for that matter. Hanno needs to get his act together.
I also don't believe we're in a closed period for him not to buy shares. He's been using that one for years. Even the Proactive interviewer asked him once if he was going to buy shares - It's plain and obvious to even set up interviewers that Hanno has no skin in the game. If for whatever reason he cannot buy shares, he should structure another loan and put his money where his mouth is.
We should see a solid bounce from these levels. It has the last two times we ventured this way!