The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Would GR have to prove on paper that he was talking to JV for the RNS to be released? I very much doubt it. He only has to state it rather than show proof.
I seriously have my doubts that there was JV queuing out the door as I’m sure there would have been a suitable option. I do believe GR may have had one of his mates sniffing around but that would be it.
Jonny
I think GR may have been telling porkies re the JV partners.
Sure he was meant to have them queuing out the door yet they all disappeared in a week.
Basically we need to shore up Zulu and sell it it’s the only way some will make money others will exit with a less substantial lose
Johnny, the action group has sprung into action... There deleting posts for the private group... HA HA.
No MNH news to be expected in 2021 so will see if we get news about Zulu results soon.
In the last Stockbox interview at 9:00 he mumbles "if a machine breaks down in the lab it is out of our control" and then explains that when results do come in they have to be "sorted out, tabulated, put in perspective etc etc".
Maybe the lab is having delays. Maybe PREM is slow at their RNS preparation. Either way I really hope we get these results before year end.
It's not like i believe the SP will rocket when results come back, it's more that I want to put these and the recalibration discussion to an end, so next time the LIBS might actually do its job as it was intended originally back in Aug/Sept.
P.s. some of these Tea Lady comments are cracking me up :-)
Bick - If they with GR and as good as we are all expecting, SP would be rising and volume increasing IMO.
If results were with GR but not as good as expected we'd have Snowking on here and Noel , Keith et al everywhere telling us they're back and great.
Indeed Steward,
He said he was expecting assay results 23-26 Nov. If these are not returned and RNSed before the end of this week, or the end of next week at the very latest, then something is very wrong.
Bickmaster
I think you could be right, Bick... one might expect GR to be once bitten/twice shy and wouldn't go near MNH but hey ho!!!
Anyway... that's enough looking back... it would be good to get some positive news before Christmas.
In hindsight, and seeing GR's continued interest in MNH when it is the last thing shareholders want, I firnly believe the reality of the situation was that his buddies from Uramin wanted some $$$ they didn't want to put forward themselves and PREM funding them was an easier route that seeking debt funding or raising elsewhere.
steward1 have a laugh at this little gem.
Extract from RNS 30/11/2016
""This maiden resource in the underground and update on the open pit, strongly supports the installation of X-Ray ("XRT") based run-of-mine sorting technology and indicates a sustained profitable operation once the shaft upgrades are completed and the sorter is installed. At the same time, the resources now declared support our planned production levels of up to 10,000 metric ton units of Wolframite monthly when installation and commissioning of the upgrades underway are complete. Production at this level is likely to see Zimbabwe placed into the top five wolframite producing countries and RHA as one of the larger producers outside of China."
Acker
Johnny - his rationale was that Circum would provide an almost immediate return ... the liquidity event that we've been waiting for since then was "imminent" at the time. It was a big, big mistake!
Steward- what was GRs justification at the time for circum being a better investment than Zulu?
Was just listening to tears of a clown on the radio as I typed this this! How apt!
Who knows how GR is funding drilling etc right now. As with EVERYTHING here, be nice to be informed once in a while……
Yep Johnny - he did a fundraise explicitly for the Zulu DFS but then decided the money was better spent buying more of Circum... the Circum liquidity event was imminent... I kid you not!
As for good news this year - we live in hope! I still can't fathom how GR is paying for stuff... the only possibility of any income is from MNH??? Has MNH turned around?
Steward - can't imagine what it feels like to have been here 4 years. My 1 year feels like an eternity as it is. Was it really a binary choice back in 2017/28 between Zulu and Circum?
I'm definitely coming over to the JV now brigade. It's abundantly clear that even this phase is too much for GR. He's made a right old mess of it.
With regard to the pandora leaks, I'm sure they are still getting them whenever appropriate. Out new tea lady won't influence that. I'm assuming they've been very very quiet on all platforms recently as there is literally nothing to tell them to pass on to us proles - even the bull**** leaks, as everyone know what they are by now.
Volume very low, and SP drifting tells me it's likely no results are imminent.
Would love to be proved wrong, but I think anyone expecting any good news this side of 2022 will be very disappointed.
johnny - I invested 4 years ago on the expectation of a DFS being done 2017/2018 but he spent the money on Circum instead!!! Think about where we might be if he had done the DFS then!!
Anyway, I'm sure like others, I've got a list of things/events that are lined up - they just need to be getting done and announced and then we can see the sp motoring. The longer these delays go on, the more I am inclined to think that the only way to get anywhere near the kind of return most of us think is possible is for a JV to happen sooner rather than later. If GR can't get a DFS done without mishap, what chances are there that he can get a mine operational in any reasonable timescale? Unfortunately, potential suitors will know this!
We need a few months of decisive action and delivery starting this month... I'm still holding and hopeful!
It's interesting that we're not getting any "leaks" from the Pandora Group - the PR lady may well have put a stop to that and/or GR needs to play ball with potential suitors and stop briefing the chosen few.
The sad thing is most of us are hoping or guessing what George might be doing that is why the SP is on a steady decline !!
George pull your finger out and give the market and shareholders some information the silence is deafening !!!
The whole point in not doing a JV around April was to give us time to prove the resource.
As of this morning, how far have we come to achieving that aim? A big fat NOWHERE. Let that sink in. In 9 months we have 1 unverified result.
With hindsight, should have gone ahead with a JV back then. My guess is we’d be miles ahead of where we are.
If he is behind closed doors thrashing out a deal, will it be of benefit to to shareholders? I think it will for a change.
Morning Steward, GR can say what he likes to lift SP, but it will only shift if he does what he says which seems to be difficult for him. On the ancient saying theme, we have a "CryWolf" scenario ( no relation Wolframite) the market just doesn't believe him sadly, so we're caught in a bit of a loop wanting more information then not believing a word of it.
Welshy - I agree... it's not the right time. The next best thing to having GR removed is to exert some influence over him. I believe JG will have made clear his views on some things. Unfortunately, the Pandora Group seem to think that everything GR does is tremendous and I guess they don't want to upset him in case their alleged leaks stop.
GR could shift the sp himself tomorrow by saying something like "we will not buy anymore MNH" or "we will only consider buying MNH once the PREM market cap is £100m"... there is plenty that he could be saying/doing just now to shift the sp higher!
Evening Vetta,
This suggestion could of well had some backing a few months ago.
Unfortunately the carrot dangling in front of the donkey will inevitably mean this won’t get off the ground .
I may be wrong but I believe you are a member of the Pandora group , surely your fellow members would support a resolution or at least fire a broadside so GR understands the concerns of major holders .
I believe the next RNS could either push the Mcap past 50 (inevitably meaning a placing at 15% discount) or another false dawn and the SP sinking , Forcing GR to accept a not so favourable JV.
Sad reality is that this whole process is down to PPM .
Pi@s po@r man@gement !
I’m holding
GLTA
Some comments here are far too positive. Muslims believe they will go to Jannut (heaven) for being Muslims. Ghalib was a a
a renowned Muslim Urdu poet in the 19th C. He said "I know the reality of Jannut but its is nice thought". This applies to many of the comments. There is a proverb in India, "God helps those who help themselves". Some of these authors might wish to note it. What then needs to be done? Call an EGM (I think it needs 10% of the issued shares) to have a vote of No-confidence in GR. He is likely to defeat the motion easily but he will learn the right lesson.
I hope that one of the organised shareholders group would look @ this suggestion sympathetically. Why do I not organise it? I am a scientist and understand the recent genomic & brain researches better than many other scientists. There is a lot of pressure on me to write papers to explain these.