George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I dont want to get into a scrap. But the loan you are worried about, is small. On past experience, Im pretty sure Robbie would just repay it himself, if there was a serious problem.
Not sure what the comment about half the operation being shut for the foreseeable means?
And the holding company was not "nearly struck off". To not be accusued of online bullying again, Ill go with a euphemism and call it a "creative embellishment of the facts".
Haha - green filter equals bear poked
Ok - that's me being a little childish I admit.
Watch for the next post now!
We shall see, I'm also a holder here and for the record I do not wish the company to go under but I don't rate the CEO at all and now he has recently put a mortgage on Kilimapesa with half of the operation shut down for the foreseeable, what happens if the plant has a serious fault and they default? The holding company was also nearly struck off, I think RM is a liability.
BTW I'm delighted that JC has filtered me, he can't see anything I write so he can't be offended or feel discredited by anything I say.
At least he's stopped making up avatars to comment back though lol
If someone is accusing you are flapping - err no.
Oh dear we are going to sound like a tag team if we are not careful - I'll put it out there before someone else does!
Definition of flap in this context - to be agitated or panicky.
Having read you post carefully Hodgeyd, I am delighted to say that I find no evidence of you either being agitated (not even with the poster - well done!) or panicky.
Why is it when posters can not make their point in a logical, fact based way they resort to play ground insults? Some people find it difficult to grow up Into mature adults.
Thanks Hodgeyd - we can but try and help.
Having filtered Bebeto some time ago, I have a little more time at the moment to respond to itsyou as he or she isn't being overly rude but they are showing themselves to have a basic lack of knowledge in financial accounting and when they state numbers as facts when they are not, this requires addressing. If they continue to misrepresent company financial information then it will require addressing by the moderators I would suggest.
I fear that we have a person with limited financial understanding at a company level and whilst that would apply to many investors here, the dangerous posters are those that think they are familiar and knowledgable and then apply their limited understanding out of context and sometimes just incorrectly.
I really don't think itsyou is being intentionally incorrect - I just think its a lack of understanding as evidenced by his or her references to liabilities for example.
I do think though that he or she is being intentionally deflective in not answering very basic questions and in that, my continued patience in trying to respond and to correct false or misleading statements is being sorely tried at the moment.
A knife edge is simply your opinion.
The FCA was known to be understaffed, it was reported openly and known to be delays.
I don’t believe we’re on a knife edge here, yes it’s not the best situation right now, or over the last 15 months, but we do know a lot has been done behind the scenes and work continues apace.
Knife edge. NO.
And I’m not flapping at all. I’m quite happy with my large ish holding here and looking forward to 2024 and beyond.
Hodgey,
I contacted the FCA months ago and they got back to me quickly to say whilst the company is in breach of listing compliance the prospectus will not be authorised and at the same time RM was giving interviews (apparently) saying it's nearly there.
You now look flapping as you also know the future here is still on a knife edge IMO
Lol the point scoring squabbling over the financials below are upto December 2022 and we're currently waiting for June 2023 to be published and they won't even contain the period of the plant shut down...
They will show a net loss though.
I wish Itsyou he would defect…..to another board
@JC - Your posts have been well written and very clear imo. Don’t think you could be any clearer.
@Itsyou - Clearly you’re not grasping what JC is saying or asking and you are simply ignoring his questions and points and clearly not reading his posts properly.
Itsyou is clearly one of those people you just cannot have a reasoned, balanced and sensible conversation with.
Bebeto isn’t far behind.
We’re all frustrated with the current situation, no doubting that. We have lots of new shares to be issued, not ideal but it’s kept the company going. They had some downtime in January, again, not ideal but replacing, repairing and upgrading equipment is essential so it happens. We’re back to mining and producing so that’s a positive.
The RNS stated the audit is in final stages and two teams are dedicated to getting it completed. Another positive.
They’re pushing to get the prospectus approved. The FCA are under pressure, under staffed and have a huge backlog, that doesn’t help us but hopefully we’re nearing approval. A pending positive (Hopefully)
As soon as the audit is complete and accounts released we will come out of suspension. It’s very unlikely at this stage that this will not happen so….a positive.
Some HNW individuals have put a lot of personal cash into Caracal, these type of people don’t part with their cash easily or without knowing they will get a good return. They will have information we don’t to get them to part with their cash. Another positive.
PoG has risen nicely and currently holding around the $2180 mark. This is almost $500 above mining plan figures based on $1700, AISC at around $1200 so looking like a nice tidy profit per oz once production ramps up. Even if we’re only doing a few hundred a month it’s profit that helps keep things moving forwards. Positive.
We have Emoress waiting in the wings with $5m reserved and waiting to be handed over. This is the biggest plus as Empress are hands on, they get involved, I’m sure they’ll likely have someone on the board if they go ahead with their investment, I can only see their involvement as positive. But, how long are they willing to wait? Fingers crossed the mining plan is amended to their satisfaction and both parties sign on the dotted line. An on hold positive that we hope doesn’t turn into a negative (We don’t want a repeat of Jan 2023)
That’ll do for now. Plenty to digest if you go through the RNS’s like Jerseycrew suggested to get a good overview of all that’s happened. It’s not all good that’s for sure, lessons have been learnt and still more to learn but there’s a lot to be cautiously optimistic about.
I’m sure we’ll have news very soon, hopefully before month end but all we can do is wait, in the meantime let’s try to keep posts here balanced informative with facts, if you post incorrect info prepare to be corrected, if you get it w
Zan - absolutely - of course its a double edged sword as POG can go down but given the previously stated plan worked with POG at 1700, we had good wide margins at that stage.
For balance we know (strongly suspect) that this plan was never actioned and we should get the full story over the coming weeks.
The underlying point you make about POG though is spot on and many commentators are forecasting more rises to come. The fundamentals behind those claims are hard to ignore when we have the global tensions and the US debt increasing at a rate of 1 trillion dollars every 100 days if the commentators are correct. That is not a sustainable situation and something has to give - I subscribe to the thought that the Fed has to start cutting rates and we might already be starting to see that flight to safety reflected in recent POG increases but moreover it seems that China's central bank is leading the charge with their purchases - all for a reason.
Interesting times - not great for the world but probably good for gold and gold miners have some catching up to do then - again commentators are saying their gains might outstrip POG increases 3 fold - lets see.
Oh dear - my attention to detail is slipping this morning - I don't think I could have been more specific (not less)
More coffee required - it might be another one of those days it seems
Defected? Haha - deflected
Itsyou.
You seem to struggle with not only financial accounting but some words in the English dictionary.
Definition of waffle: tospeak or write at length in a vague or trivial manner.
So once again you have defected - I wrote at length but I don't think that I could have been less specific or trivial. What specific elements of my post were vague or trivial?
I see that yet again you have ignored the 4 questions put to you - maybe you didn't read my post properly again.
Here they are yet again:
Outstanding questions for itsyou:
- please explain the relevance of your financial ratio of market capitalisation to total liability number in this scenario
- you say that you have explained basics of mining of mining to me - what have you explained to me?
- what advice are you giving here please?
- the new question - what are others trying to hide here.
So - are you going to continue to deflect or answer very basic and straight forward questions?
I have tried to give you advice at the end of my post which you seem to have ignored.
You quote massive liabilities of £15.5M as if this was all debt as you then talk about high interest rates in the next breath and then you state it as fact.
Itsyou - you need to be very honest with yourself at this point but what do you know about financial accounting? Do you think that the word liability in a balance sheet automatically means its a loan? Have you looked at the component parts of the balance sheet and do you know how these can impact on the day to day cashflow and P&L? I pointed you in the direction of hidden assets which is particularly relevant in the mining sector - have you done this yet?
Has the company got debt? Of course its got debt - that is not being hidden. Is the debt coming at a financial cost? Of course it is - all commercial debt comes at a financial cost.
When you get your numbers correct though please make your point so we can all understand. If you want help and want to enter into some sensible debate on possible scenarios perhaps ask some questions and then you might get some better traction here. That's the best part about these forums - when used properly all of us learn from them and I very much include myself in the pupil category.
More waffle and still avoiding the point!
The company has massive liabilities of £15.5m, which is bad in a high interest environment, especially on the interest rate they are being charged...fact
Itsyou.
Let me remind you of the line out of your first post that I responded to - quote -
You must also include the current Liabilities, which was showing as £15.5m at the Interims.
Yes it was crystal clear - clearly factually incorrect. I pointed this out and even suggested you reread your post allowing you the opportunity - not once but twice. Your post needed a response because you were stating an incorrect current liability figure and yet you claim your response didn't need a reply. I differ in opinion. Stating basic financial errors needed a response in my view otherwise readers might take your post at face value. You were incorrect. Fact.
You say I missed a point about money owed - again incorrect - please see my second bullet point - quote:
- read and try to understand the forthcoming accounts
I am beginning to think that you don't really understand financial accounting and at the risk of sounding condescending, the expression I used about forthcoming accounts is a general term to cover the constituent parts of the balance sheet and P&L - it's an overarching expression that includes liabilities by definition.
As for trying to discredit you - I was trying to correct you. You got it wrong.
As for your comment about trying to hide all the facts - you have a tendency to use over arching expressions to mask a complete lack of substance - please highlight the facts that many here are seeking to hide. Lets add that to the list of following questions which once again you have completely ignored:
Outstanding questions for itsyou:
- please explain the relevance of your financial ratio of market capitalisation to total liability number in this scenario
- you say that you have explained basics of mining of mining to me - what have you explained to me?
- what advice are you giving here please?
- the new question - what are others trying to hide here.
So - are you going to continue to deflect or answer very basic and straight forward questions?
Finally let me end on a positive note - we agree on your final sentence - everyone should understand all the positives and negatives. That is what I was trying to highlight in my list of considerations - you will note that I didn't attribute a positive or negative connotation to any one topic with the possible exception of my comment to undervalued miners - that was an industry sector comment though and not a company specific comment.
My final comments in my previous post were:
Dead horse? Decide for yourselves. Personally I think we have our own Bob Champion and Aldaniti story potential right here.
So - a clear message from me of decide for yourselves. I followed with my personal view and even caveated that with the word potential.
My clear advice to you itsyou.
1. Read posts carefully - don't just scan read and draw an instant conclusion. I try and chose my words carefully to give a balanced view.
2. Attention to detail - make sure that you are posting factual
The company hasn't mentioned the sale of any gold since 4th August 2023 RNS. (Q2 update)
It's no way to run a company IMO
JC,
My first post on this thread was crystal clear. You listed a number of points that investors should be looking at when making their decision to buy, hold or sell. But you missed at least one point, which I added about the total amount the company owed, £15.5m
My post didn't even need a reply, but many came(+trying to discredit) and trying to hide all the facts that are relevant. The best investors are those that understand all the positives and negatives.
Price wise is cracking for producers and if it holds, good for explorers too.
Producers being main benefiters due to instant margin improvements.
Doesn't secure success or failure, but improved margins def aren't a bad thing.
If Bebeto is trying to be rude to me then he is going to have to try really really hard - I filtered him some time ago. I might be using that button again shortly after todays fun and games. What I would really like is if the filter button worked both ways - that when you filtered someone then they couldn't see your posts either. Surely they should like that as well?
Bebs - you have constantly been rude to investors - why goodness knows. If you are disgruntled shareholder who purchased near the start around IPO or perhaps in the months after - yes the SP is way down. It's way down for everyone regardless of the size of their investment. I really don't see why you are trying to goad investors who are taking a pragmatic long term view. The figures aren't going to be rosy everyone knows that - and nothing is being hidden . JC is a respected investor and you could do well to be more like him. Good luck with your investments.
LOL looking forward to the results . Then the market will see what RM has been hiding!
I suspect everyone knows it was technically insolvent but we'll see what happens when it comes on the market.
Until then continue flapping with loads of posts :)
Hogeyed and JC, you guys are ruining this board with your reasoned disposition. This board was so nice and calm while you lot and your facts were away!
Itsyou - I can certainly see why you would think my post has an element of a condescending tone - but even in giving you a clue whilst be a tad condescending, you haven't answered my question about the ratio of Total Liabilities to Market Capitalisation and what your financial assessment of this ratio is. You raised the point - I am just seeking to understand. I still am.
You quoted the CA figure incorrectly.
You gave half of the components of the definition of MC
You claim to have been teaching me basic of mining - when challenged what these are. you go silent.
You deflect from questions where you realise that you have got it wrong or just don't sufficient to explain your points and put words in my mouth that simply are not there. You deflect and simply show a lack depth in your postings whilst masking by saying things are basic.
If you go back and read my post yesterday I have gave a whole list of things that people should be looking out for. Just how much more balance do you want? I told people to think carefully. Your threshold for what constitutes ramping in my view needs recalibration.
I understand that you are disappointed with any aspects of the company and the history, whether by its own making or whether the rug was pulled out. Guess what - no one is happy with the current position - I suspect that Robbie is not happy with the current situation.
So heres the nub of it - when the shares come out of suspension you and others have a choice - buy, sell or hold,. Simple. My posts have been trying to highlight some of the considerations that you should factor in, in making that decision.
Your post in response was that was bad advice.
OK - spell out in simple terms what is your advice is if you think taking a considered view is bad advice.
I suspect you will not answer a straight question as you haven't answered a straight question yet today but if you want to share your advice here then of course it would be interesting to hear.
As a final comment - am I optimistic and positive about the potential here? Yes - but that is my very own personal view of course and I am looking forward to reading and learning from the further updates. This is not advice -it is my view at the moment.
Itsyou, not sure you’re following posts very well here and seem to be arguing points without fully understanding. But never mind.
I’ve followed posts here for a long time now and always found Jerseycrew posts to be well informed, balanced and worth reading. They do have a positive vibe but why shouldn’t they but they’ve also been balanced when things aren’t so good.
He’s also noticed any financial advice that I can see either.
Bebeto, I don’t think he’s flapping either, your posts on the other hand!!
As for me, I’ve been holding here for a long time now, of course delays, bad news and failed promises are frustrating but here we are, a decent RNS last week confirming we’re still going, work progresses and we’re producing gold. I’m happy with my reasonably large holding here and remain calm and look forward to all the news that’s due.
Condescending post. Not showing yourself in good light.
Balance is required here, not the only positive comments you write, when the company has been failing to deliver from an Operatorial, Corporate and Investor communication basis.
We've heard the same diatribe from the BOD for too long, encouraging naive investors to put there hard earned money in here. Yet, they've never delivered on any of their targets since RTO(3years soon) and the CEO constantly gives false timelines for news. Whilst also having private chats with a select group, including even mentioning the royalty company that's supposed to be the future funder, which is clearly prices sensitive inside information. I could go on and on...
IMO too many people have been "ripped" off here, including myself who believed what was being said and promised. My bad, small hit, but for some its not the same.