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blacksheep - pretty sure if anyone had a backchannel to the board that they were able to prompt on, they would have done it way before now
Blacksheep not sure they will respond outside RNS currently due to the response in an email being shared regarding a strategic review and how that was used by some on here. If it's useful or market sensitive then it should be by RNS.
I am pretty sure the BoD know we are suffering, one way or another the quietness is a conscious thing on their part.
I have everything crossed that you are right, Prop. The market doesn't believe it, but any good news will rocket the SP, IMO.
If anyone on here has any way to get through to our BOD, that we need them to up their game and quickly, please use it, they certainly haven't listened to me.
Been reading, been busy - some good buys following the sales today - was tempted - but changed mind at last minute - placed a fill order for CNR.
I am also in deep - so just sitting tight hoping for good news from LC, and eventually some good news from Arbitration.
Cobre - vital we keep maintaining current sales and try to grow sales - and get renewal of the contract early next year - this keeps the company going.
LC - just have to hope it's going well and we get the next group of permits required - I am sure when there is real news - good or bad - we will get it - they have responsibility to update the market.
Redmoor - longer term and JV needed I would say.
HC - still there - but parked.
Arbitration - we may have some success - TBH would be happy if Major Client started buying the magnetite again and giving an income stream - don't think arbitration will be quick.
GLA
Hey Blacksheep, The previous LC-related RNSes intimate more than 'hopefully next year' in so far as cashflow from LC be concerned; but that's the crux of all our circular debating over the past few months - subjective interpretation of the publicly available information, much of which will subconsciously be subsumed into each individual's sentiments on the progress - or lack thereof - of the company.
Hi Prop, i totally get what you are saying but the patience line has been trotted out for a long time now, there comes a time when saying the same thing over and over shouldn't just go unchallenged! LCCM has slipped, it was originally going transform our company finances many months ago, now we know no more than hopefully next year.
DV, Yes, I concur with those sentiments; which is why we should trust the BoD to increase through commercial acumen and financial diligence our company's value - but not at the expense of the interests in the long-term for the short-term; they have managed to keep this company afloat, with comparatively few share-dilutions, while acquiring a couple of highly prospective assets and one potentially near-term, large cash-generator; besides, we should opine in the contexts in which this company trades and operates, AIM and mining, respectively - a powerfully unpredictable combination that can accordingly maul or aid it, yet mostly on sentiment and little on fundamentals.
Yes, we all have our gripes, but their repetitiousness will not extract the information that some seek: the company knows its comms strategy, and we will just have to patiently wait.
I agree Prop, but sometimes it is difficult to suppress your thoughts & feelings when you have so much invested in the company and so little control of events.
Blacksheep, As I've mentioned before on this board, you know where to entertain yourself by picking up some free shares in another company ;-)
Folks, You all have valid points - but we know only what is in the public domain, and conclude according to our individual and sub-group-think dispositions; therefore instead of chastising - rightly or wrongly - what will probably prove to be a temporary blip in this company's fortunes, why don't we all put aside our rivalrous double-edged swords, and wait for the facts to be published.
The long and the short of this argument is, only a select few know what is really happening, depending on your view, you can spin it either way! PW bought recently - so that's a positive, JP hasn't, after saying he would, so that's a negative!! No facts or even plans are being shared outside of the BOD (and possibly major shareholders) so we, as smaller shareholders, are left in the dark.
Whichever side of the argument you sit on, the SP has been decimated over the last 6 months or more and it will only improve if the BOD actually inform the market of what is going on. You'll get conspiracy theories and counter claims, but the buck stops with the BOD - many (myself included) were quick to claim them as the best BOD around when thing were going well, now they are "rubbish" - the truth is probably somewhere in between, but they've gone into hiding so it's difficult to tell and so people are staying away.
But, for me, it's becoming harder to trust them every day they refuse to update the market.
Im not talking it down, the SP has been hammered down by an ineffectual BoD. JP Reads these boards, and given the company doesnt reply to shareholder emails maybe some shareholder dissent will get through to him. So very different from a properly run company that a) responds to emails and b) doesnt entertain shareholders at an agm only to shaft them a few days later.
What are you waiting for from the company.? All we want is an update on the massive amounts of cash invested in LC, what is going on? It's all well and good to be preaching the gospel when you havent done anything with the asset and then after you invest millions into it you go silent. its stinks to high heaven.
What ever happened to the purchases he claimed he would make?
It is patently obvious the arbitration claim is the only thing JP can hold on to going forward, we dont have cash to further any of our assets, look at the salaries, its disgusting. For one thing at least he had some success with the rail dispute, maybe he can pull off something better this time round. I would love for the company to come out with an amazing RNS saying everything is on track Ill eat my words and reflect on not "trusting" this board. In my 50 years experience somethign tells me otherwise will happen. Sadly too far down the road to do anything effectual about it.
when he stated he would mix things up as it was known he disliked traders it was about 6 months to a year before any change, the change only really occurred after he was criticized for announcing $4mil was on the way and that he should have waited until it was in the bank.
Why would anyone that's been hear for a while "forget" this, its just not when the change occurred. If your a holder and you think AIM is purely sentiment driven why do you talk your own money down all the time? surely that's the act of a fool?
So you want JP to say " we haven't quite got the mix right/no copper yet" or "we should have 176 tonnes of cement to sell on the 21st nov" the former will have a negative impact and the latter likely to also if its late, short or goes wrong. The best option is to wait imo, annoying maybe.
He actually stated he would change comms due to the trading nature of this share, JP hates dislikes short term traders. Nothing to do with operational issues. This is again is what many seem to forget. Sadly his change of comms comes as a result of operational issues rather than trading, and what Mr JP doesnt seem to realise is this plays exactly into their hands. This is AIM, the SP IS sentiment, going quiet on your major, song dance, tsunami of cash blah blah is literally the worst thing you could possible do as the MD of an AIM micro cap company. All the while picking up a consultant MD wage. I believed in the act and Im a fool, but im not an ignorant one.
I think JP's comms changed just after the $4mil never showed after he stated it would, that's the cause of the change in comms.
I do think if JP had something concrete positive to deliver that the odds are he would RNS it, but with a leach cycle taking 2-3 months and in theory it can go wrong almost at any stage in the process I expect to have to wait, yes its annoying but if I felt there would be no "win" at the end I would sell out and move on.
Im sure you know exactly what Im referring too. They were updating us on every little detail, now " in production" we havent heard anything for months. IF it was all going well JP couldnt keep his face of proactive, he only talks when things are positive.
I am not sure who you referring to when you say "I smell a rat and sadly like the rest of us here are hoping our guts are wrong."
I would like an update, but not if it doesn't deliver, I would rather wait, we know leach processing takes time and expertise, no rats just yet, but more time needed.
It makes ZERO sense to not update shareholders on the companies most prized and potential near term asset. Especially when all of the company money has been ploughed into it. I smell a rat and sadly like the rest of us here are hoping our guts are wrong.
However under SMl's rule, its operational but we've had no news since they delivered 5 tonnes... 6 months ago...
phoenix managed to get a good amount of tonnes out of the mine, so we know it can be done. copper price being low was the main issue.
So we know the plant works.
Gl all.
Or its a bigger ****up than we could ever have imagined
You know what I was thinking about another poll last night.
When and how much are the 2 metrics I think we can poll.
I'm actually quite confident about this quiet time, the supportive and loyal shareholders will be rewarded by this current approach by the bod's.
They might still be struggling or they might have nailed it and just building up for the first big sale - we don't know - this is more upsetting to some than others. In the case of the former it then just needs time/money - copper is there.
HC (really care) is/was a tax perk to help finances this year - not even a quarter of it was surveyed. This will be written back on at a more cash rich stage.
I wouldn't say nothing , they produced some tonnage like 5 months back, I'd presume plenty is progressing behind the scenes. At what speed its progressing we're unsure, people are taking guesses. I'm all for another poll
Nothing has been happening for over 6 months at LC apparently. Beginning to play out a lot like HC.
popped in the see what is happening. Err...nothing! Good job there is plenty of excitement elsewhere in the market....