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DOW he actually said first copper production in 2028....
Loved the fast show....sooooooooooo funny!!!!!
Bozi, you are absolutely correct and thank you for pointing it out.
No, Jerry. You made a generic comment about something Addicknt and I were discussing, drawing on a contradiction that I acknowledge.
You didn't say who made those comments, just that they were made. I made it clear that I wasn't responsible.
It isn't in the slightest bit bizarre that I felt the need to clarify.
Really, if you're going to bring up old comments, you should be clear on where they originated from.
Bozi. What a bizarre post. I wasn’t talking about you or anything you said. I was just making a point.
In fact I specifically said that I wasn’t talking about or to you.
Smickster - there has been gaps in my reading of this board as my time has been spent with the twitter group (which consists of many LSE readers).
I must hsve missed Addicknt's initial reaction but i know he wasn't exactly delighted with the Franco deal when it became apparent how this alienated our major shareholders.
That's all i was getting at.
To all - my apologies. I don't intend to come on her to bicker (honestly). A line drawn on my part.
Jerry - i never said that the CGP offer wasn't going to succeed (Addicknt did). I also didn't say it was generous. I said it was fair.
I must admit to being confused by your post.
Add its all there in your history
Maybe Bozi missed this.
Very. A lot to digest, but this is excellent news.
The company appears to have given a masterclass in how to arrange this type of funding and is excellent news for us shareholders.
There is plenty more of that too and does not look like someone who was particularly distressed by Franco funding.
Jerry, it was me that was insulted hour after hour by addicknt and Redknight, yes I fought back. But in the end I thought what the hell, I am just upsetting other posters on here, who wanted to talk about Solgold.
So I filtered the two clowns, and from my perspective the board has been a more peaceful place. As I hope it has been for others.
Let's remember according to them we should have been bid for by now many times over. They always give long complicated arguments why I am wrong. But up to now, I have called it correctly and they have been consistently wrong.
Interesting that Bozi remembers it then, isn't it smickster? And he is right...unlike you.
The CGP offer was ill advised because it was both never going to succeed and far too generous at the same time. That’s some feat.
It wasted management time and cost precious money. It was also going to dilute all the other non cascabel areas, like porvenir.
One other thing, it was me who has consistently stated his dislike of NM. As one of the few here who has met the man, I am entitled to that opinion. I think addicknt has been much more even handed in his views of the man.
And Quady you are now resorting to insults, one of the many things you say you don’t do. Often people do that when they have been proven wrong. Bit pathetic really.
As for Bozo, not worth wasting my time on.
Roll on the 75p bid, which I have upped from 45p on back of porvenir and new management.
That's funny as do not remember anyone raising any doubts about the Franco deal at the time.
Maybe your lost and should be looking for the Cgp bb
Bozi, I didn't answer your final question.
It is vanishingly rare for a CEO of a public company to publicly state his company is vulnerable to takeover and I've never seen one say it simply to create 'competitive tension' in order to attract investors. More often than not a CEO will deny that this is the case, even if it's true. The reason for this is that it often reflects the fact he's run the business badly, and which CEO wants to admit that?
A CEO's job is to persuade investors of the strength of the investment case based upon it's prospects for success, not that it's in a weak position and vulnerable to predators. Clearly, there are investors who will only show interest as a result of the prospect of a takeover, but they tend not to be the type of investor a company wants on it's register...they are fickle and unreliable.
Mather and now Marshall's comments were simply a recognition of the truth; we have fantastic resources and others want them. Their honesty is to be admired.
Bozi, I have previously explained at length why I considered the CGP offer was ridiculous and there's no need to do so again, other than to say it was a truly awful deal for us and thank heavens they rejected it.
My concern about the Franco deal was that it would lead us into conflict with our main shareholders, which I considered to be ill-advised. I was right as NM found out to his cost. And please don't forget, I voted in favour of Mather's re-election.
Smickster you simply don't merit a response.
Add i have contributed plenty over the years maybe not all great but I've always been invested and genuine with my belief and intention.
Since the back end of last year this bb has largely been intolerable because of pondlife like yourself so I take a back seat until there is something to discuss and call out the likes of you for the shyster you are.
Unfortunately there seems to be many like you with mamy different angles but mostly negative types.
Even if I didn't agree with Nick I supported him and the company and stayed invested however i find it difficult to understand how someone was so against 1 man yet remained invested and tirelessly commenting on this bb.
Doesn't ADD up sunshine
And one final question that is very relevant to you given your background.
When, in your opinion, would a company CEO be advised to say that their company isn't vulnerable to predation from a bigger fish?
This narrative can crush a market's view on any corporate tension which does nothing in terms of attractive new retail or institutional investment, whether it be through the primary or secondary market.
Nick and Keith are simply telling us that a zebra has stripes, not that there's a lion hiding in the bush waiting to jump it.
OK Addicknt. I'm not sure I've distorted much truth at all but apologies if I have. Not my intention.
I'm going to have my final word on this now. You have the right to reply of course and i will pass up on taking this any further.
In my view you have sought to criticise him at every available opportunity. How exactly was the Cornerstone offer so ridiculous? We offered them a 22% premium to their prevailing market price but their directors and significant shareholders wanted a c.200% premium based on previous transactions that had no relevance to Cornerstone.
That's like SolGold getting an offer of cash and shares to a value of 80p p/s on Monday and rejecting it because we want 240p because Alpala could have a $5bn NPV and Porvenir could have a $3bn NPV. We'd be laughed out of town.
That's ridiculous. We have all discussed and agreed that a low share price is the highest vulnerability to a low ball takeover offer, but that doesn't mean it wasn't fair. It was fair given relative to their market position and the fact that CGP shareholders were getting access to 100% exposure to Cascabel and the largest tenure package of any company in Ecuador.
You criticised Mather for taking the Franco deal, for not publicly jumping into bed with our major shareholders (BHP particularly), for his lack of action at the 2020 AGM, for the PFS delay (justified IMO) and for a raft of other operational decisions around the lack of drilling and newsflow strategy between Q2 2019 and Q3 2020.
As i say, time now to let a sleeping dog lie. I do wish we'd be able to look forwards now to this company hopefully getting back on track and performing to all our satisfactions, whatever that may be.
I single you out for criticism Addicknt because you are the most consistent and the most vociferous. Barely do you comment without adding to the extensive record of distaste towards Mather and his decisions.
On the subject of a potential takeover, Marshall said that majors would undoubtedly be aware of us and interested in our assets. He didn't destroy the diverse book argument as he didn't comment further on the details of any potential transaction.
By the way, Quady is also wrong to say I was one of the people who argued that a bid would immediately emerge at the termination of the standstill agreement.
Bozi, my comment today referred to the refreshing new approach that KM appears to have brought to shareholder communication and how this is an improvement on what we had bevome used to from NM. This appears to have been the unanimous opinion of contributors to this bb. And yet you single me out for criticism.
The fact is we see the world very diffetently and you seemingly take this very personally.
I note that Quady has just popped up saying I don't listen to the company. Perhaps he'd care to admit just how wrong he's been. The diverse book argument has been destroyed by KM's own admission and production will not start in 2025. Has Quady admitted the error of his thought processes? No, of course he hasn't - he never does.
Whilst KM mentioned first production from Alpala likely around 2028 if pretty sure he was referring solely to the block caving operation. He also mentioned they are hoping for some open pit opportunities along the way ..... if they prove feasible there’s no need these couldn’t happen quicker
Bozi forget it, you are conversing with someone with no emotional intelligence, who thought that once BHP's standstill agreement was finished last October, that this would be sold before Christmas. A few of us on here listen to the company and accept what they say.
But sadly we have a few on here that try to twist and turn and pretend they mean something else.
These people are tiresome to say the least.
All the best.
Could be Tranz
I'm not really playing this game again Addicknt because you've already implied it and I'm sure your pal Jerry will be along to confirm it (your collective view of my tendancies).
I'm just tired, as a long term investor, of seeing Nick criticised for everything.
We need to be looking forward to the impact of the new CEO and the handover by Marshall rather than comparing every presentation to those delivered by Nick Mather or the forensic analysis of comments made today vs those made by Nick Mather, particularly when there's a clear dislike for him.
I'm not saying he got everything right by the way and I'll happily agree with anyone that some of his addresses to existing or potential investors were hard work but he's out of the hot seat.
Let's see what Keith can oversee in the coming weeks and what the new man or woman can contribute when they arrive.