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Trout, He probably munched on apple grumble, last night - our daily curmudgeon sours his own dessert - can’t wait for his metaphorical segue.
Always felt that if you have got trout all to say, you don't bother saying anything, seems like you don't feel the same way.....
I'm limping away from this one but wish all you lth the best of luck and hope this sp turns around for you. potentially great assets still, but enough's enough. Gl All.
Hi Fira,
Thanks for your concern - I’m about break even on the share. First bought in 2016 from memory at around this level. Sold my initial invest at 1.40ish. And most of the rest at 2.6 or similar. So all good so far.
Then bought a few more at 1.6 and sold 10 days ago at .45 - lost a bit there!
Share may go up or down from here on sentiment:) - I cant see how it can progress without more money and can’t see why anyone would buy in so it is risky to me. Especially as America is in shambles - what would happen if the Cobra clients stopped buying? Also think JP has proved to be a massive spinner and that is not what is needed in a company CEO right now. Facts and full disclosure- too and bad are the way forward but I don’t think he has it in him hence I’m out.
Additionally there seems to be better options out there for our hard earned cash right now.
Cheers,
Fira, That tsunami comment is priceless...
https://www.nsenergybusiness.com/projects/leigh-creek-copper-mine-south-australia/
Unfortunately Patrick the 5 year chart doesn't agree with that statement, I've been here for 3 years and the share price has only gone one way. One by one the projects have been put on hold:
- Hans Camp
- Leigh Creek
- Redmoor
We've contracted back around Cobre which thankfully is cash accretive and revenue is increasing but I think it's perhaps a stretch to suggest investors here are deramping for a lower entry. The company isn't expanding it's been contracting and paying John Peters $500,000 per year isn't helping. Great the BOD have lots of shares but they also pay themselves lots of cash - so much in fact that the coffers are nearly empty and we can't progress any of our projects without another placing or joint venture partner.
I hope John Peters can surprise us somehow with something or perhaps that miraculously we get some money from arbitration but really you have to question some of the decisions that have led us to this point. You certainly have to question the remuneration package.
ok. Some will mown like a child until they get their own way. but looking at the accounts for the prior 3 years, listening to the bod & given the apparent turn round of this company I believe the criticism is there for de ramping the shares. company is expanding. with any mining investment it takes time for it to bare fruit.
Hi Slurm,
Thanks for your feedback - I thought the same as you until I cast a critical eye.
1) it does not state the PEPRs are different - we were lead to believe we had all the PEPRs done - never any mention of more needed.
2) JP has been counting potential investors since 2018 and said as much in at least 2 RNSs! That’s 2 years and several raises ago!
3) Agree in general but that’s not the point it’s about trust - would you go into business with this party?
4) They publicly stated twice that they ‘thought’ the money was imminent - they could certainly publicly stated that they thought/knew it was not - no need to revel circumstances or client confidentiality.
5) I’m doing nothing of the kind - I’m just interested - he would have been paid something (legally - nothing wrong with that and happens all the time) - I just wanted to know how much - no-one legally has to answer either - I would like to know, that’s all.
Sadly, when one is completely objective (I definitely was not before, though I thought I was) the scales fall from the eyes and present a different picture to me.
All the best and thanks for taking the time.
Cheers,
Bule.
1. Mining licences and environmental approval are not quite the same, but had they not been needing to mine a different area that's not been previously mined they would not have needed to conduct a PEPR to my limited knowledge.
2. At that point JP possibly thought he could go it alone along the existing area that was being mined.
3. JP's remuneration has little to do with a JV, why would they care? all they care about is, is it advantageous to JV a copper mine with their existing business?
4. The company was unable to speak publicly about who the client was, and therefore obviously not their situation
5. This doesn't need an answer as you are possibly alleging a criminal activity without any proof, the bribery and corruption act applies to him as any other person acting on behalf of a UK company.
Im not happy about the current running of the operation, but please ask proper questions.....
1) For LC What is the difference between the PEPR’s approved back in Aug 2018 RNS and all licences and approvals granted (so led to believe - read the RNS’s from 2018 and 2019) and the lodgement of further PEPR in May 2020 RNS? Why needed if previous commentary was true, if not why does it take 6 months and why not applied for ages ago?
2) JP mentioned numerous times on going discussions with potential investors (from 2018) and possible ‘partners’ (from 2019) all excited about LCs amazing potential, Low capital cost, ability to generate returns quickly etc etc. Why have they not come on board if above is true?
3) Would you JV with a CEO who has been proven to have taken the equivalent of nearly 30% of the last cash raise in salary and bonus for themselves?
4) Would you JV with a company that posted information in an RNS (twice) saying money was imminent from a client who had lied to said company more than 30 times in the previous 6 months. Yet not provide an RNS when you find out your client is in jail having been arrested for running a giant fraud?
5). How much did Mr AB make from the sale of Redmoor to SML?
There are so many other questions to ask but these will do to start.
Cheers and good luck to all.
Bule