Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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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 š
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
Ah the filter feature. Love it :) GLA
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 š . 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 Ā£1.59m listed investments?
3) How do you justify the Ā£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 Ā£500k raised at 1.8p. Why then did he follow this up with Ā£400k raised via CLNs and this again was followed up with Ā£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 Mattās holdings are āfree sharesā and how much were paid for? A calculation for his low average wouldnāt 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.
Wasa, the sarcasm isn't going to strengthen your case. Now you are hiding behind BlackRock. We are here discussing Armadale, if you want to discuss BlackRock, their management, strategy and decisions you might find another forum for that. For the record I do agree with you on the following:
"You know Posco are the largest graphite trader in the world right? If they can't make it work nobody will, it's really that simple"
It does not necessarily follow that this is going to work on the terms attractive to investment. Big companies do have failures and make losses especially when operating in unfavourable and unstable jurisdictions. Of course, I hope it works out for shareholders but if it doesn't BlackRock shareholders will, as you point out, be royally "stuffed". We've seen a lot of that going on most recently a nightmare for shareholders at HZM.
Take my questions on Armadale and answer those please.
Thank you sir.
Just to spell the error out:
you said:
1. "they hadn't applied for the environmental/mining licenses yet" - Kabunga starting dumping AFTER the mining licence. So how can he sell because they haven't applied, when he started selling after they received it? Revisionist history again?
I said:
Mining license application submitted 2nd July 2020, Environmental and Social Impact Assessment submitted 8th Sep 2020, Kabunga selling October 2019, I'm quoting you exact dates from the RNS. Simple comprehension of chronology dictates that Kabunga started selling BEFORE mining license applications. I can't believe I am engaging with this basic incompetence, checking RNSs and facts should be a pre-requisite when posting on this forum.
I'm not sure how many more own goals you're going to score but let's try your luck at the other questions, you might fair better with those. For someone who is not verifying information and misguiding investors here I am not so hopeful.
Just out of interest Dee, how old are you? I am pointing out the factual errors in your posts and you are obsessed with a gotcha moment. I am trying to do you a favour here by highlighting legitimate questions and concerns - don't take it personally. If you don't want to answer the other questions just say so because it's getting extremely tedious investing this time in going round in circles. We are all grown ups here I hope.
Kabunga invented Cov19 as he clearly started selling before it became a big thing. Master trader that he was. It was in the tealeaves. Correlation is not always causation. Did he make the right call about the Tanz gov? Maybe - but lets hope they're slow rather than complete non starter otherwise Blackrock shareholders are stuffed. Should we have thrown money at the project if the gov didn't play ball and bkt didn't progress? Probably not - the money has to achieve something right. The final proof in that pudding will evidently when Blackrock start construction (or don't).
You know Posco are the largest graphite trader in the world right? If they can't make it work nobody will, it's really that simple.
Anyway we're due an update on our second asset soon. Lets hope its a good one :)
So you can't admit you were wrong or mistaken with any of your points.
You brought up Kabunga.
Now you don't like it?
Answer the original point, please.
If you cannot, say so - Then we can move on.
Dee's emotional attachment has got the better of him hence the apparent subjective undertone to his posts. Whilst he continues to hammer on about Kabunga I will appeal to Jim, wasa and Dan to answer the remaining questions. Jim, after all you are the one i initially put them to? Where are you sir, bless us with your presence.
Mining license application submitted 2nd July 2020, Environmental and Social Impact Assessment submitted 8th Sep 2020, Kabunga selling October 2019, I'm quoting you exact dates from the RNS. Simple comprehension of chronology dictates that Kabunga started selling BEFORE mining license applications. I can't believe I am engaging with this basic incompetence, checking RNSs and facts should be a pre-requisite when posting on this forum.
Dee is now trying his utmost to make this whole thing entire about Kabunga and his flipping investment strategy. I've made my point which is clear for all to see. Let's get on to the other questions. I am looking forward to engaging those, I may learn something i don't know - I am an open minded fella.
So you haven't admitted a thing?
We're not moving on until you do.
1. "they hadn't applied for the environmental/mining licenses yet" - Kabunga starting dumping AFTER the mining licence. So how can he sell because they haven't applied, when he started selling after they received it? Revisionist history again?
2. "If he sees similar opportunities in the mining/graphite space in Tanzania or elsewhere he'll take it." - Again, what opportunity? YOU, RHT99 said that Kabunga partially dumped because of Tanzanian Government. So why hasn't he dumped a Tanzanian project where he is Chairman?
3. "He was in Volt pre-invasion so don't obfuscate" - Aww... You think you got me there, right?
BEFORE RUSSIA INVADED UKRAINE THEY INVADED CRIMEA. DON'T YOU REMEMBER?
There was almost a decade between the annexation of Crimea and the full invasion. If Kabunga could foresee the Tanzanian Government being a problem and thus, selling Armadale... you'd think he'd be able to see the situation with Ukraine being threatened by their neighbours, having a province annexed, and then having a good 8 years to get rid of the project.
Your points are moot.
Again, admit you're wrong, and we can move onto your other questions.
Yes Matt decided to help out his buddy Kabunga in Lindian, as dumb as he is, Kabunga has probably been dumping his stock with no notification. He is a full on trader and will do anything to make a buck and at anyone's expense.
The questions which are being avoided are as follows.
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 Ā£1.59m listed investments?
3) How do you justify the Ā£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 Ā£500k raised at 1.8p. Why then did he follow this up with Ā£400k raised via CLNs and this again was followed up with Ā£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 Mattās holdings are āfree sharesā and how much were paid for? A calculation for his low average wouldnāt go amiss.
Wow Mr Dee, where to begin? You are in full throttle deflection mode. Kabunga is an investor/trader. He made a tonne of cash by multi-bagging on ACP. Steve Mehede, his boy on the board let him know what the reality on the ground was and that the imminent finance and production RNSs were all fluff (they hadn't applied for the environmental/mining licenses yet!) - he jumped the good 'ol ACP ship with your cash, likes of wasa and others having bought a shed load of Kabunga's dumped stock on the open market. If he sees similar opportunities in the mining/graphite space in Tanzania or elsewhere he'll take it. He was in Volt pre-invasion so don't obfuscate. If you start on the other questions now Dee, gives us a bit of colour around Matt's incompetence and what Kabunga was seeing long before this discussion started. Wasa answer the following then I'll happily entertain your secondary questions about Blackrock.
Kabunga has around 5 companies. Only Lindian was doing half decent, and even that's dumped heavily.
Would that be the same Lindian that MB pumped all ACPās shareholder funds into?
RHT99 so you're central theorem is MB doesn't understand Tanzania and is too young inexperienced to deliver that project. It is a reasoned argument and you have your opinion. So I'll ask you, if I may, to answer a couple of mine:
- are the Blackrock Board more experienced? Here they are:
https://blackrockmining.com.au/about-us/#board
- has their customer (and shareholder) got experience in this business? here they are:
POSCO Holdings Inc is a large South Korean steel conglomerate with a market capitalisation of over US$32bn
with a large and growing battery materials business. POSCO Future M Co.,
Ltd plans to grow its anode business from 82ktpa in 2022 to 370ktpa by 2030.
All that experience and expertise and still no producing mine? Not even a definitive finance agreement? What are they doing wrong? And what could MB do better than these guys?
These revisionist stories of yours are ridiculous, RHT99.
Admit you made up the comment about 'MB holding the door open for Kabunga'.
Admit you could be wrong about it, and it's solely your opinion.
Admit you said Kabunga "He knew the project was not viable as the government was not playing ball and therefore started selling" - Whilst he has a Tanzanian Graphite Project called Bunyu as a company he is Chairman of.
Admit the above statement is contradictory when he didn't sell down or dispose of Bunyu, which is located in Tanzania, when you said he sold down ACP because Mahenge is in Tanzania.
Admit all of that, and we can discuss your other points.
Okay,
So let's get this straight:
You, RHT99 think Kabunga "escaped" ACP because he didn't think Mahenge was viable. Apparently, because Kabunga knows Tanzania well.
Again, you make terrible points.
So, Kabunga left ACP because Tanzanian wasn't viable, so what does he do?
*drumroll, please*...
He goes and works on the Bunyu Graphite Project over at his company Volt Resources... Which is... wait for it...
LOCATED IN TANZANIA!!!
Round of applause for RHT99.
But wait, it gets even better. EVEN better.
Volt Resources has ANOTHER project. Where's that one located?
Wait for it...
*drumroll, please*....
UKRAINE!!!
Mate, it's incredibly difficult to take you seriously.
Forget all of these other points you want to discuss. Let's clarify this one first, and then we'll move on.
So Kabunga was super smart, and Matt Bull held the door open for him.
Holding the door open for him, Matt Bull didn't sell a single share, and actually bought more.
Kabunga sold out, but he then went on to develop projects in Ukraine and Tanzania. But according to you, RHT99, he knows Tanzania well, so why is he developing Bunyu in Tanzania?
The fact is, that Kabunga has been aggressively selling. Usually large sellers leave in off-market transactions. Clearly there were plenty of buyers when he was selling, and Kabunga deliberately sold down on the market.
But hey, you're welcome to re-write history.
You still haven't adequately explained how MB 'held the door open'. Apparently MB received quarterly reports on sells. Okay, so how does that constitute MB 'holding the door open'? Is he supposed to force people not to sell? Can he? No. Rather, you don't have an answer to this. Kabunga aggressively dumped for well over a year. He's not a bastion of morality, or somebody capable of developing a Junior Resource.
Or maybe you mean he released amazing news during the period of Kabunga selling - Did this happen? No.
You say MB has screwed it up. Has things paused? Yes. Has things gone backwards? No.
Personally, I'd rather not see a micro-cap company on the hook for almost $40 Million in infrastructure projects. How does that benefit any of us?
You points are incredibly contradictory, and make little to no sense.
Why would MB be buying more when he could just sell? Why would he want to help out Kabunga, when it's well known (and you should know this) that Kabunga didn't want to develop anything - Only to be a lifestyle company. It's also well known that MB and Kabunga had a falling out.
But let's not look at rumours etc. Let's look at the facts.
Kabunga has around 5 companies. Only Lindian was doing half decent, and even that's dumped heavily.
His Graphite Company VRC is basically at the Death Spiral Finance stage. And this is the apparently smart man you think saw it all coming? The man who invested in Ukraine and again, Tanzania which he 'knew' very well?
Sorry, but these revi