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We've probably all worked with people who are masters at saying the right thing at the right time, yet are actually useless at their jobs. I can think of a few I worked with like that. I don't suppose any of us know him. Perhaps if we met him, we would find him charming, full of optimism and gushing with enthusiasm about the future. Who knows? The world is full of people like that. It can be odd at times. I'm invested in a company with a CEO who has a track record of failure after failure. So much so that his record prevented me from investing more than a modest amount. Maybe shareholders in his past ventures have lost as badly as this one, but he is now in charge of a company that will probably be worth billions in the future if the expected news continues to flow. Maybe they lean from their past mistakes, and vow not to make them again, which doesn't help us one jot with this load of rubbish, but if you throw enough acorns on the ground, one of them, eventually, will grow into a tree. The gift of the gab, an engaging personality, and an inner confidence to succeed can make those people seem very credible, even if their direction is misguided. All of us long term holders will never see anything but a significant loss here, but the daftest thing for me is recalling, probably two years ago, an investment guru predicting ORE to be one of the best shares to invest in. I kid you not. Maybe he had just had lunch with captain Slowey.
What a pile of poo....what I don't get ...... & I really don't....... is why Slowey is still part of the picture - devastasting performance & has lost me many thousands of pounds I'll never get back here now primarily because of his decisions & the performance under his tenure & now I suspect further massive dilution probably along with a share reorganisation & consolidation so it can start all over... FUBAR that's what it is purely FUBAR.
Christ!
someone has had enough!
Fair point, you are right. Dilution would start all over again. Perhaps immediately. Lol. Bad idea of mine then, considering this BOD. Was only thinking of a way we could benefit for our loyalty shown and a lower number of shares in issue would look better to potential investors. It's really a nightmare and yes, we need a JV from somewhere. If not, then certainly no more cash raising while we are sitting at all time lows. Cheers Jib.
I am of the opposite mind when it comes to consolidation. If this bunch consolidated now they would just start diluting all over again. For any LTH that's just moving the decimal point and further reducing. Bridy making statements of next year will be busy without a JV or financial support is just a stupid statement to make.
Yes, the Trump model can be applied here. Lol. I'm hoping the wage bill is reduced further to conserve funds. No good though if the wages are cut then any bonuses/options are raised. Bonuses for what would actually be my question. Roll on next year now. See what happens. An idea that I'd like would be to consolidate and reduce the number of total shares, but for our woes, long-termers be given additional shares either before or after. That won't happen, but in an ideal world it would be a decent gesture from the BOD, who must be acutely aware that they have so far failed long-term shareholders miserably. On we go.
Agreed Eric, last year there was no work for 11 months of the year apart from a few grab samples at the end of the year. They said that was to enable them to update the mine model and plan the activities for the forthcoming year. Then it took them 7 months to go back to the Asset and do something this year. During this time there has been multiple dilutions from 3,560,432,183 to 7,841,026,670 so about 120% approximately. For 1million GBP. Now they are say next year will be busy but all the cash has gone. Then must have attended Trump uni. It's gonna be good, great, the best. ..... but no real plans to get there or to pay for it.
The number of shares in issue is a real problem. A further cash call will be horrific unless Bird can generate some good news from somewhere. We can't afford to raise money at these levels. Simple as that. This is just a vehicle for wages in my view. In any 12 month period there simply isn't enough activity on the project. I know weather dictates for a few months, but they never appear raring to go and work only lasts a matter of weeks. With the Mutsk area still undefined, without cash, Bird and Slowey could well just tick this over until it dies. The undefined area is somewhat convenient if you look at it from a certain viewpoint. I would like Bird to really market this now and secure a JV. If the deposit is so promising, he must surely be failing if he can't bring in a partner. Question is, will he bother? We have to hope so, because there currently is no shareholder value whatsoever being generated. There never has, to date.
Colin Bird commented in the last RNS " We expect that 2017 will be a very busy and productive year." However without a JV or Finance next year will not be active at all. Given the SP the already massive dilution and the heavy discounts this really has nowhere to go. No investor who has done their homework would invest in this without a JV or financial arrangements in place to cover the cost of the drilling next year. The last lot of investor has seen their heavy discount amount to nothing and the 0.0249 ers have lost 38% of their investment in only a few days. That said, reasonable results and sill open ended. With a JV or finance in place this share would be a different story.
Following your post, apart from me clutching my teddy bear and weeping, I've just let out a soft fart. At least that's what I hope it is. Hey Jib, I'm thinking of hopping on a plane, to see if Mutsk actually exists. Lol.
Well you can bet the next dilution will also have a massive discount and therefore expect a 60-70% dilution of shares
You have to laugh. The sp is now at the level of the ultra low placing price. Good old Birdy. Anyone would think he'd been brought in to wind the company up. Lol. Barring an unforeseen miracle and sharpish, the next cash call won't be good, though it will hopefully put us all out of our misery. Best wishes guys.
Cheers buddy, although I would say that there is more chance of Stephen Hawking winning a hurdles race. Best wishes.
Yes, the vein system may have been complex, no doubt, but we are talking too complex for this bunch of clowns. Lol.
hi eric, hope this does come good pal! by god the investors deserve it! as you say shame this could of been so much more in the right hands! good luck guys
the vein system turned out to be far to narrow. how was we to know? (con's vein system is turning out to be quite similar,ouch)
Hi Liam. Good to hear from you. Yep, this has been a stinker for six years, particularly the last three. Glad you managed to get out before things got worse for you. A real shame this one, because looks like a different management team could have done something with the projects much quicker and with less dilution. Even if that meant finding out sooner if they were worth pursuing or not. There we are. Not sure I remember Ed. Langyy is a good lad though, he isn't a bad egg at all. I would say he can't be this Ed character. However, I feel we were all guilty of what now turns out to be misplaced optimism when Deli Jovan was being drilled. It seemed extremely promising. Management led us to believe that too of course, before discovering it was too complex a vein system. For them! The personnel here has experience, but is severely lacking in actual expertise. Hence we are where we are. Absolutely rubbish to date! Anyway, best wishes matey. Good luck with your other investments. Cheers Liam.
Don't suppose anyone remembers langy? Sure that was ed !
First invested here in 2011 I think, at over 1p. Was told 3 years until production.. Waited 5 years, lost £17,000 believing ed! Nothing ever materialises. Always more gold found etc.. Etc. Most painful thing was selling here at that loss after 5years. But glad I did now. GL to anyone still believing here. Don't be afraid there are better shares else where
These have been in the bottom drawer that long, the flippin' drawer itself has rotted.
I've used that white stuff that cools down burning industrial-sized drill bits for lubing my starfish. I needed suitable rectal tranquility after that last RNS. Basically, no JV, but got a great program lined up for next year. Fookin' champion!
birdy?which other comp is that m8.
I think most long-termers have written this off. Birdy is no better than Slowey, who has been one step short of utter crap, but the two guys combined, Jesus! I can't see we've got much chance of ever seeing an upside that isn't laughable. Sorry that Bird is involved with another of your companies. If you are in profit or near break-even it may be worth considering his contribution here and asking yourself if he's doing similarly bad in your other one. Best of luck.
Lol ,bottom draw again ...