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C - I just asked how much DA has been taking out of the company on salary and expenses having seen comments on the subject by regular posters.
Any ideas?
I agree that DA seems like one of the good guys, but therein lies the problem - too nice & too soft IMO - time to get tough and sort this company out. I have personal experience of Oman and it can take an eternity to get things done and we are years down the line now - action required - deliver or go.
Benchcar you are clueless. Getting licences in Oman and Moz is not and never has been about money. Would you care to explain how spending more cash on those projects would have obtained the licences quicker ? Can't wait for this one.
I share your frustration but have a more forgiving attitude to DA and his optimistic targets. In spite of delays I still think he is one of the good guys running AIM companies.
Just for the record I have held shares in SAV for over three years and I hold approx 2 million shares
I have posted comment on this board four times , every time that I posted a comment it has been critical of DA or his fellow directors My first comment three year ago was about none delivering on statement that DA made and his credibility.
My next posting was on the director who sold 2 million share at 8p
Every time I post ,I get a reply like yours saying I don,t fully understand the potential value of the company
I have 2million shares because I see the potential value of the company ,but I also see a badly run company that raises 5 million pound by wiping 10 million pounds of the companies value
One month ago DA did a interview on the moz license , He stated all that is need to do to get the license granted was pay $50,000 post a advert. On DA past record that would take six months to a year
I was once told excuses are like ****holes we all have one . DA must have 10 plus,. The time for excuses have gone if he does not deliver he should go
Jonners, an answer to what exactly?
Hi Benchcar, nice to hear from a new face. I don’t believe any amount of money thrown at Moz or Oman would have made much difference. It’s the culture and bureaucracy to blame in each country. The additional money is to complete the expanded scope of the DFS due to additional resource finds which DA is keen to include to increase the value of the project. Should be seen as an investment in future value. Tough if you have a short - term focus but cornerstone investors and most long term holders will have the patience to see it through to completion
Thanks guys - after lots of criticism of DA from you none will give an answer.
Da has been focused on Portugal in the last year, and I suspect 98% of the monies have been spent on this project
During the year the Li price has dropped and there is clear evidence of a over supply situation in 2020/1.
Yet DA continues to feed £ in the portugal project . If some monies had be spent on obtaining the licences in Oman and Mos the share price would most likely be around 6p
I suspect the main reason the licenses have not been obtained is because DA ran out of money
Hopelessly optimistic CM. Value to come? Re-read the RNS? I just gave you one from 2 years ago that was apologising for being a year late with the shovels but promising copper by 2018. Were on rinse and repeat here, and have been for over two years. But buying now might yet be the best idea in the hope of selling on a spike to 3p and getting some money back.
There is no doubt in my mind that value will be created in the next 9-12 months. The newsflow has been outlined as follows:
· A maiden co-product (quartz and feldspar) Mineral Resource estimate
· An infill drilling programme to upgrade existing Inferred Resources to the Measured & Indicated categories for inclusion in mining reserves in the DFS
· Completion and submission of the project's Environmental Impact Assessment study for approval by the Portuguese authorities as part of the project permitting process
· Decision on the preferred lithium processing methodology and pilot scale test work results
· Updates on EU/Government funding
· Framework agreement on royalty finance
· Framework agreement on offtake contracts
· Maiden Ore Reserve estimate
We would all like to start mining tomorrow but these are the process steps that must be followed. What happens to the SP in the meantime remains to be seen but as no more retail finance is required we won’t have further dilutions from this. Why did we need to raise more last week? - in a way we are a victim of our own success in increasing the resource which has required additional work and therefore extra time to complete the DFS. I would urge folks to read the RNS again as the answers to most questions are there and prospects remain good in spite of the price reaction. I am treating it as an opportunity to grab shares cheap - now available below placement price!
Grow up, as much as i'm angry at Archer the resources speak for themselves. The bigger question is can he ever "go mining" as he claims to intend to do on all 3 projects.
If the projects were all sold tomorrow they are combined worth a multiple of today's share price which is why I won't sell up as a knee jerk reaction.
My message to Archer remains clear though, step up and create some value or get out and let someone take over who can.
they've led us up the garden path all this time and tricked us into believing they have a decent resource/s when probably worth jack shte