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Napom is the most genuine person here!
how many ids you had and how many bans ?
Motormouth Mal ,what did you think of Your Lieutenant Napom who disappeared after the average shareholders entrusted him with their shareholdings to tackle Gr.
Motor mouth Mal it certainly feels like 5 years,glad you did not have the gaul to deny all your posts have been incorrect. Hahaha just come back with that you have not been here 5 years.
Brilliant.
.
It was a very good deal that MNH couldnt turn down. It turned out that it was the right thing to do as it increased production at Otjozondu significantly hence the reason prem converted the loan
All I know it was a distressed seller who needed to get rid quickly. The reason the loan was so important to MNH.
Can you provide more details.
What did the purity plant cost. What makes it a good deal?
MNH did get a good deal on the purity plant they recently purchased and that happened in the last 3 months.
wouldnt want to be out of this over the weekend GLA
No, an insurance company would value a repair on the cost of carrying out the repair but that is completely irrelevant to this scenario. Again, have a look at the assumptions stated under the table in the 4th December RNS. These are not standard assumptions and have been put in place to massively inflate the value of plant GR could present to shareholders, however he had to list the assumptions to ensure he was not misleading the market. If you were valuing the assets, say for a bank loan security valuation, it would be based on the market value of the plant which is a much more reasonable approach. For accounting valuations the plant is valued at the lower of cost or net realisable value, which in most cases is a very close reflection of the market value. As such it is a fair assumption to say that the market value of the plant at June 2018 was $970k and as per the unaudited accounts at June 2019 was $1.6m. It is of course possible the company invested in more plant after this date but I have serious doubts it would have been hugely significant given the period in question is only 5 months. So all in all, the assumptions which have been used in the preparation of the Bara valuation lead to a replacement cost valuation of $22m compared to a 'market value' valuation of $1.6m. I know if I was the bank which one I would place my reliance on.
Bick your not making sense. SD could have converted the $350k loan at a much lower sp but didnt?
I think 10% of a company with an expected turnover end of year run rate $1.75m per month rising to $5m a month in 12 months on 30% profits is a fine deal.
Valuation is an art? Would your insurance company value the repair of your house based on the marketing price?
The deal for the 10% has been concluded. On its own it is not a deal that makes any sense so obviously there must be something more significant going on in the background. You say 'wait for the EPO' as if it is a given. I am hoping it will come but I haven't applied the same degree of certainty to it as others on here. Indeed I think its fair so say it is very unlikely we will see the EPO in 2019. I often wonder who GR is more concerned with doing a good deal for, PREM shareholders or his friends. I am hoping it is the former but we are yet to see any evidence of this as all we appear to be doing is bankrolling Stephen Dattel's projects for very little in return.
CF every deal GR has done you said was great for us. How wrong you have been!
Noel,
I am not saying the valuation is incorrect. What I am saying is that the assumptions applied in the valuation arent realistic. Why would you valued the replacement cost of the non-running/damaged machinery. Valuation is an art, not a science and special assumptions are they way to get the answer you want. Perhaps you can ask GR if the valuation is a red book valuation?
good discussion bbl
We have exposure to 10% of the profits and use of all that equipment. Is a great deal in my view, with way more to come.
Noel, its very difficult to say. For the volumes they are running they wouldn't need a lot of machinery. Perhaps you could ask GR for their asset register for the operational machinery?
So you have no knowledge of how many earth moving equipment MNH have but you are quick to assess the valuation that BARA did is incorrect?
Bick you assume that the deal has been concluded. Far from it. Wait for the EPO and the events to unfold after that and then decide.
are you talking working or rotting ones napom
Bick, you're wasting your time with Napom he's doing his usual after having being caught out pumping the proverbial out of this with his $2M. Now reverts to name calling which coming from a man who can't read an RNS and use a calculator and then his scattergun, what about this that and other.
He's got just about everything there is possible to get wrong about this company for over 3 years now, only other consistent apart from being wrong is what happens next as he is doing now.
how many earth moving equipment do you think they have?
All that crap machinery can join the xtr sorter that has only worked for a few weeks in 3 years
or ignoring the connections he has in the logistics industry as an owner of a logistic company Qube Logistics Pty Ltd.