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Would appear the company maybe passing the hat around again.
The management being bought in was always one of the reasons to stay JB. I wish they had nothing to be honest, I'd have got rid of these way earlier.
It's damage limitation now, get back what you can. Bill's dreams of breaking even are dead; even if he put a chunk in now, if they're not Glenn isn't running this right. Pragmatism first please Landore.
Perfectly fine comments Samval.
Part of the trouble with brining in Claude was his interests just weren't aligned. He wasn't bought in, the lower the share price went the better it was for him. Was always a risk.
Management may have a sketchy record here, but at least they're on high averages despite their continual averaging down. Glenn had no idea where the bottom was either seemingly- fancy buying in from 30p all the way down to 2.5p over just a few years.
Question is whether their interests are aligned now since their averages are so high. They do surely want to just be done with this nonsense now and get as much of their cash back as possible?
I would have hope so hear something from Glenn as to direction. A JV seems the only option that might not be awful, short of trying to sell at something like drilling cost. Take £30m and move on.
A £3m raise is 50% dilution now anyways. Doubt a TSX listing will help, dual lists always just seem to drag one another down.
Surely all anybody was expecting today Samval is that the resolutions pass, they raise a 'keeping the lights on' sum at a dreadful price and it buys Glenn some time to actually do a meaningful deal or deals?
Taking back miminiska? Sale of other non-core assets? Swallowing up Storm to get their TSX listing since they blatantly can't pay? Back at the table with anybody they were talking to just over a year ago hoping for JV, strategic investment or simply with more realistic expectations?
Plan B was always 'we drill on'. Quite how you go from a SP of 18p to a SP of 2.5p over the course of a year without raising once it was clear plan B was necessary is beyond me. As soon as it was clear there was no offer incoming during late 2022 they should have raised enough for plan B, surely?
Looks like expectations for the EGM are low. No real surprise considering the company mentioned that holders could attend the meeting online but haven't posted how to do this. Amateur!
I see the village 1p idiot is out.
Mate go back, they are missing you
Unless management do something because we have such a great asset
Hi cost of inflation hi cost on equipment drilling. A question of time when we hit 1p
Anybody on this board still citing 'inflation/production costs in this environment' as the problem here, see point 3 in this article.
BMO are forecasting declining production costs over the next three years.
Production cost deflation. Not more production cost inflation.
The idea that Junior Lake became unattractive at some point in the last two years when inflation permanently ruined margins is total rubbish. It was a temporary thing and is going into reversal. Large, shallow, open pits with high recovery rates will be very attractive again.
Cost of capital to drill on to a size where this is definitely wanted? That is the problem.
https://sprott.com/insights/sprott-gold-report-gold-mining-stocks-a-clear-and-compelling-investment-case/?_cldee=3qo4Bm0LnUJtFgciiCC8GGjr-8SQWLX8pIS5dI20yMjr-5LQSUuks172d95huCs-&recipientid=lead-5dc2a5fc79d6ea11a813000d3a0c8c6d-e11c5af0e2bb40788b1b2e75ecd743c4&esid=f958008f-68b1-ee11-a568-000d3a846077
As far as I can see you only started posting in December on LND. By that time it was already in the sh.1.t box.
Close your short, move on
Look at what we done we dug ourself big hole ceo leaving this not company we had 2021. We going. Lower and lower
Mate, when you have a user name that includes the word 'moon' I couldn't take you seriously. You're just a pain in the ass.
Close your short and sod off
Quite a biggie for a company 'that's about to go pop' wouldn't you say Goingtomoonufo?
Somebody just throwing £12.5K in the bin?
Big boys making money hand over fist.
Some of it has got to start trickling down to the little fish or there will be no exploration.
https://twitter.com/htsfhickey/status/1745529671892992075
You don’t like to face the facts that this bucket abt to pop
When are you going to naff off?
When is this bucket about to break? Complete disaster
This has been a disaster over the last few years.
I think Claudes problem was that he didn't understand the market LND was listed in. AIM is all about news and some of that needs to be good....He continually talked about raising...and here we are. You would have thought someone would be advising him in the background, clearly not
People saying 'management have to participate in the raise or nobody will'.
Bill isn't management. He's still coming in for tens of thousands of pounds more. A very odd thing to do if this isn't going to get mined. Properly dumb in fact.
Only those two know what interest they actually had back in 2022. Not 'LAG' or anybody else.
Rumours of some sort of fallout/Bill wanting too much and therefore rubbing suitors up the wrong way were kicking about. Expectations would have been tempered had they known where they'd end up a year later perhaps?
There's no doubt the strategic review was the wrong strategy. They should have raised again in summer 2022 with the sp north of 20p and kept drilling until suitors approached organically.
Claud's contribution? Changed the branding from blue and red to green and yellow.
Low grade, lowest confidence intervals as inferred and indicated. Low cut off meaning some of that wouldn't even be viable to recover.
I had the same thoughts tbh, the 1.5m MRE certainly even at the time felt at least a little massaged to get that higher number. It was way ahead of expectations. It's fair to be able to question the rest.
My main hope here is said before is Glenn. He's ponied up on this and has the say on the future direction. Hard to see what that is though, because Claude's strategy was credible and he couldn't execute.
1.5Moz is not much gold? Upen Pit?
WTF are you doing here
i don't think they have anything we have been b_****ted by the old management . if they were some solid reports, then they would have been able to raise money . i don't think they have much gold there to do anything .
Bum deal in Canada was around $40 an ounce on low grade projects generally speaking, good deal 2x that