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I'll also bite:
1) What has the management achieved in the past 4 years which justifies taking a salary?
a. Updated the Mine plan to utilise a higher cut-off grade and a lower strip ratio.
b. Commenced testwork on graphite to ensure suitability for purity.
c. Increased the Mahenge NPV8 to $430 Million
d. Completed the testwork with CSIRO
e. Applied for a Mining Licence
f. Proved up to 99.99% purity can be achieved
g. Submitted ESG impact assessment
h. Commenced FEED
i. Received formal approval on ESIA
j. Received Mining Licence
k. Appointed Greg Entwistle who is a phenomenal appointment.
2) I would hazard a guess that it would not make sense to sell down investments, and then use the remaining investments for general working capital. It would be foolish to do so.
3) I'd expect the wider market to want to see more details on the project prior to making judgement. We'll be able to make judgement as we receive further info. I didn't know much beyond there being a silver project. I can't imagine MB is adding garbage projects - But I'll wait for the RNS with information.
4) "We're funded until production" means we're funded on the basis of the projected timelines. You really need this explained?
5) Anything can look imminent, until it isn't. Until it is again. and then it isn't again. Lenders move goalposts. You're telling me you're too naive to know this?
6) Again, do your own homework. I'm not wasting hours trawling through RNS' to help a troll. You do it. Then come back to us with your findings.
Now, please feel free to answer MY initial question, and my questions about you and AST.
I suspect you won't, and you'll deflect.
Answers on a postcard, please.
Yes, he does. He's even gone as far as reporting it the the FCA, apparently. It begs the question, why does he still hang around?
Amtech, You should say you were asking me. Not expect me to assume.
Answer:
Neither. The two are not mutually exclusive.
@ Amtech.
And i'm asking you. Or are you only playing with DEE?
"""Do you think MB lied when he stated finance was imminent? A simple yes or no will suffice"""
You asked DEE the question, now i'm asking you. A very serious accusation if you think Matt Bull lied to the market, don't you think? Unless you have concrete eveidence.
Think there’s an echo. I’m asking Dee.
@ RHT99
1 - Nothing of any note, as it would have RNS'd. But you know that.
2 - No idea. If i knew i would have inside knowledge, and i don't. Should it have been funded from investments?
3 - It's not for me to justify. No, i didn't take part in any placement.
4 - Probably a question that you need to take up with MB. How much money did ACP need to be funded through to production. Once again, i have no idea what happens behind the scenes. If i did i would be an insider. As for lying to the market? That would be a very serious thing to do. Probably custodial. Do you think he lied? Because if you did i think you should provide some concrete proof of that, instaeds of throwing accusations around.
5 - Maybe non-binding finance was initially agreed and then pulled. Again. If i knew i'd be an insider. Can you lead me to the RNS where MB said production would be in Feb 2020, without the licence. That would be quite stupid. I cannot find it, so give me a date please.
6 - Seeing as though you are so negative on MB, why don't you do your due diligence. I have a rough figure, but i'm certainly not going to do your homework for you. You have apparently raked up all things that you find negative, but the holdings one, i would have thought you would have been all over it.
Do you thinK Matt Bull lied when he said that ACP was funded through to finance? A very serious accusation, so if your answer is yes, please provide the evidence.
Thanks
Great, more investors have joined the conversation. Welcome fellas. Hopefully you can do a better job than your predecessors.
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.
@ Amtech.
Do you think MB lied when he stated finance was imminent? A simple yes or no will suffice.
@ RHT99.
Okay. We get it.
You're not happy with a company that YOU ARE """"NOT"""" INVESTED IN. Thanks for all your advice about MB's salary, MB's lack of leadership, MB's fraudulent activities regarding Kabunga. You should report this to the relevant authorities.
How many other companies THAT YOU ARE """"NOT"""" INVESTED IN, could you go to next.
You're time is up here boy. Now off you trot.
Here’s a question for you did MB lie to the market when he stated finance was imminent or do you think the blokes way out his depth ?
If you can’t answer the questions Dee, you’ve lost.
5th February 2021 on AST - RHT99:
"Word on the grapevine we are close indeed, could be a matter of weeks at tops. Lets see if rumours prove true. Welcome RNS this morning and to give you heads up my boys are going to be ready with their wallets so if you fancy selling you'll get the liquidity"
That was the day the shareprice peaked.
It's one thing to ramp, it's another to talk about your millionaire friends, and then state 'your boys' are buying to ramp ordinary shareholders into being your exit liquidity.
So, if you want to talk about 3 year price charts, look no further to your incessant ramping of AST at the time it all went pete tong. And then you disappeared.
You can like or dislike what you like. You can agree or disagree with whatever you like.
But never, ever could I be friends with somebody who uses lies and half-truths to use ordinary shareholders as exit liquidity.
Amtech is an example of someone you could be friends with, yet disagree with.
You're not.
Feel free to take a permanent break.
Absolutely. I do have a question for you, RHT99:
Why were you making the following statements on AST back in January 2021:
"I may just disappear now but rest assured the buyers won't."
"My man is managing funds for a group of high net worth investors."
"My man taking them in 50k and 100k batches."
"Nothing price sensitive but if my mate is a millionaire and has another 20 millionaire mates who want to buy, they might tell me, lol"
Then on the 4th February 2021:
"Don't say you didn't have the heads up. Needless to say by now you know who the large block buyers are. And for the record they are not stopping here. MMs ain't got a chance against them. Deep pockets, high net worth a loading. See you folks at 30p very shortly"
That's around a day from where the shareprice hit a peak.
Then it dropped nearly 50% in ONE DAY a month later.
Then it went on to lose 83% from the highs over the course of a year.
1. Who is your Man?
2. Why were you ramping so heavily over at AST near the highs?
3. Why did you disappear immediately after? You weren't seen on LSE for over a year
4. Do you often ramp shares towards the top, and then de-ramp towards the bottom?
5. Did you ever apologise to the people you ramped into those stocks?
6. Did you make up nonsense about these 'millionaire buyers' who dumped?
7. Is this the sort of reason why you post anonymously?
8. Do you not feel this discredits you, and your arguments?
9. Why should anyone feel you're asking genuine questions, or trying to hold management to account based on your own previous posts?
Thanks for the advice Dee. I'll take a week's breather whilst we engage the other questions.
Good man, no hard feelings 👍
RHT99 - You seem to be taking this very, very personally.
You need to relax, and take a breather.
Just answer the initial points, and it'll all go away.
Dee and gang: The investment case for ACP is summed up as follows:
1- Look at BlackRock
2- MB's got a lot of stock
This gambling not investing
Let me make it crystal clear for all, the responsibility for preserving shareholder value and supporting the share price is 100% the (acting) CEOs. He is being paid by investors to protect their investments not decimate them. Mr Bull has destroyed shareholder value here. Dee will say I am making it all up so I refer him to the 3 year chart for bedtime reading. The difference between me and him is that I am calling MB to account and asking questions which all shareholders should be. Dee and his gang, on the other hand, have blinkers on and want us to believe MB does not bear the brunt of responsibility for what has happened. There is a very deliberate reason why my questions are being avoided - perhaps because they shine a light on MB which some ppl don't like. Look fellas, I'm sorry but i refuse to rub up his gonads like you guys. It doesn't mean we can't be friends.
Ah the filter feature. Love it :) GLA
……upset the MB fan boys. He’s done doing wrong it’s all someone else’s fault, he’s the best man for the job, expert in his field, well worth £100k a year. Biscuit anyone.
So now it's not only a case of you being unable to answer clarify your points, you're now unwilling to to even take them back.
Perhaps a third reminder would assist you?
1. You have failed to substantiate MB 'holding the door open' for Kabunga.
2. You have failed to substantiate how Kabunga saw the writing on the wall with The Tanzanian Government, only to work on a different project located in Tanzania.
3. You have failed to substantiate how MB has "completely messed this project up". Can you elaborate on what has been messed up? I already stated that certain things have not been progressed, but can you show what has messed it up?
4. YOU initially brought up Kabunga "Whilst he continues to hammer on about Kabunga". I didn't bring him up. You did.
Answer the questions, prove your points, and we can more on.
I'm not getting personal at all - But you seem to be taking this very, very personally.
Dee, your points have been addressed and answered. You are obfuscating deliberately. I am not prepared to invest further time into honing your comprehension skills especially if I'm not being paid for it 😜 . I don't mean to be rude but you are not coming across as a mature investor, you are very emotionally charged. Take a break for a week, allow me to use my time and knowledge more productively engaging other participants here. I promise, once we make some headway, I'll come back to you and clarify the things you fail to understand. I get bored easily and you're now boring me.
You see, I missed out a word.
I made a mistake. I apologised.
You still haven't answered the initial points. You can't apologise, you can't admit you're wrong, and now you want to engage others on new points, which going on previous form - You'll half address.
Admitting you're wrong doesn't mean everything else you say is by default; incorrect.
So answer the initial points.
I'll say it again:
Would you like a yet another reminder?
You have failed to substantiate MB 'holding the door open' for Kabunga.
You have failed to substantiate how Kabunga saw the writing on the wall with The Tanzanian Government, only to work on a different project located in Tanzania.
You have failed to substantiate how MB has "completely messed this project up". You you elaborate on what has been messed up? I already stated that certain things have not been progressed, but can you show what has messed it up?
YOU initially brought up Kabunga "Whilst he continues to hammer on about Kabunga". I didn't bring him up. You did.
Answer the questions, prove your points, and we can more on.
If you don't like circles, try speaking in straight lines.
Hahaha, "a typo", Dee you are quite a character and one who has exposed himself for that matter. I will graciously accept your apology. Come back to me in one week's time; we can carry on flogging your dead horse then. I will engage the others now: Wasa, Jim, Dan and others who are - i hope - better researched, well-intentioned and emotionally mature. In case somebody has lost the questions amidst Dee's numerous monologues, here they are:
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.
I meant Kabunga had started dumping after the mining licence was RECEIVED.
Apologies, there was a typo there, by not putting in the word 'received'. This happened around August 2021.
Now, you haven't answered any of the initial points?
Can you please answer the initial points, so we can move on?
It's great that you can point out factual errors, but it doesn't mean you can get away with not answering the initial points.
Would you like a reminder?
You have failed to substantiate MB 'holding the door open' for Kabunga.
You have failed to substantiate how Kabunga saw the writing on the wall with The Tanzanian Government, only to work on a different project located in Tanzania.
You have failed to substantiate how MB has "completely messed this project up". You you elaborate on what has been messed up? I already stated that certain things have not been progressed, but can you show what has messed it up?
YOU initially brought up Kabunga "Whilst he continues to hammer on about Kabunga". I didn't bring him up. You did.
Answer the questions, prove your points, and we can more on.
If you don't like circles, try speaking in straight lines.