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Nap owns and runs a business, I co-owned ran one over a decade ago just after turning 30 financially securing me for the rest of my life after a few years. You don't break laws but you certainly test the limits where required to be successful but remain within the law - such as being tax efficient by employing a reputable and talented accountancy team.
I hope to god that we have a BOD that has this kind of business acumen and drive. Business is all about people in the end.
Just business as usual as FG says - do the tailings make sense economically and provide a cash flow and has everything been done with due legal process is all I am concerned about. I want a savvy BOD getting deals done and increasing my wealth. Do the likes of TW raise 'concerns' for shareholder wellbeing or for their own subscriptions and net worth.......
Im not arguing hh, but why keep do you keep going on at me? Starbright is better than everyone else remember he told us all so, why dont you sell up like him if you believe him and allow the investors that believe in bill to get on with it. You promote yourself as the voice of reason, i dont agree. Ive got a life so ill leave you to your negativity and enjoy my day,
Gla
StarBright. Is it so bad if a company purchases assets from questionable sources? You see, I'm in an oil company where at one point I was down about 80%. It then took over a company owned by the CFO's brother. And what do you know? It saved the company's, and my, bacon. I got all my money back, and more.
You might well he right in your accusations, but I for one don't care. As after all, business is business.
ATB FG
@napth - I've really nothing to gain by arguing with you, for as I've said often, everybody should think for themselves.
So if you or others are happy that the issues that Starbright raised have been addressed to your satisfaction then that's your call to make. From my perspective they remain unanswered.
That is not to say I must therefore automatically buy into any suggestion of malpractice or dishonest behaviour. Not that it is clear to me that any such accusations have actually been made by anyone on LSE, as I distinguish between asking questions and leaping to inferences as to what others may or may not have been implying.
I'm still invested here as I don't think this unknown is enough to detract from the positives of the company. However the lack of clarity (I'm not going so far as to say deliberate opacity) over an issue that may be viewed as contentious is one negative set against a list of positives for the company.
It may be that Alien view saying nothing as less damaging than simply putting out a brief statement dismissing suggestions as rubbish as this may needlessly draw attention to a matter many may have overlooked. It may be they have accepted it is more economic to take any tiny hit to their reputation than to put the time and money in to categorically proving they have done no wrong if this may become a lengthy or complex legal matter.
Should further facts or information emerge then I shall amend my view accordingly. In all probability I may just have to accept the fact we may never know any more than we do know.
I have to say, I have a problem with this if as you say Starbright is indeed correct. Not by any means saying you're wrong but...can anyone else add their two penneth?
Interesting reactions. As ever, few if any focusing on the salient points. Let me lay this out clearly.
- On Dec 4th 2019, Alien announced the acquisition of what it described as “…a 100% interest in the former producing Elizabeth Hill Silver Project…”
- For this, Alien paid the equivalent of £280k (200m shares were issued at a deemed price of £0.0014, let’s ignore the warrants+loan for now).
- The RNS released today says the tailings were “..excluded from the original Elizabeth Hill Silver Project acquisition announced on 4 December 2019.”
- Alien now proposes to acquire the tailings from a company (Wombat) which is wholly owned by another company (Sorrento).
- Filings indicate that Alien’s Chairman Daniel Smith was a director of Alien, Wombat and Sorrento at the point that Alien acquired the “EH Project minus the tailings”.
- We don’t yet know the proposed consideration, but (for illustration) posters here suggest that the tailings might generate £4.5m (208k silver oz at $30/oz) minus extraction costs. A substantial value, perhaps multiples of that paid originally for “..a 100% interest..”.
So, the pertinent questions are:
1. Why were the valuable tailings excluded from the original acquisition, and why was this not disclosed at the time?
2. When did Wombat/Sorrento acquire the tailings, and what was paid for them at that point?
3. If Wombat now sells the tailings to Alien, who benefits from any consideration?
Why does this matter?
The valuable tailings were (without disclosure) excluded from the original acquisition, somehow ending up in a private company then run by Alien’s directors instead. Alien now proposes to pay that very company for the tailings.
Does that sound ok to you?
HH and its entirety up to me if i choose to point out the utter tripe or lies that come out. And thanks to
EWT proved me right once more
Good luck all true holders
EWT - valued poster, thanks for sharing and your insight.
Aligns with my impressions, but more eloquently put.
I know it doesn’t answer all the in depth questions that StarBright asked about the dynamics of the deals/acquisitions, but I did ask Bill about Tom Winnifriths accusations, and he replied with the following:
“Hi XXX
just seen this
We work within the rules so for whatever reason this guy decided to mud sling at us but no truth in what he says and to be honest I have more important things to get on with and focus on
Regards
Bill"
Of course it doesn’t answer everything SB said, but I only asked Bill if the company had seen it and could comment on it.
Now from my own research into insider dealing, the issues arise when deals are not done at “arms length”, and are questionable whether it is a good deal for shareholders or not - I.e. is the deal creating fair value on both sides, and I believe that all deals have been done through official routes with some form of mediator and a third party involved, and have also been done at fair value for both us and the companies we are dealing with. Maybe others have a difference of opinion on that, and I am no lawyer, but from what I’ve read things have been done completely above board.
I know many here like to split folk in to two tribes of opposed rampers or derampers, but asking intelligent questions, whilst not that common around here, is not the soul prerogative of one side or the other. I've found those who fall between the two extremes to offer the most useful opinions.
If someone asks a question which makes you think about an aspect of your investment you may not otherwise have considered, then I see that as a good thing...
Its entirely up to the individual to decide what answer they wish to come to and how, or even if, they need to change their view of their investment because of it.
Roll on 3p +
But what is Starbright's beef?
Does a good working relationship and aligned BOD interests in moving Hamersley forwards align Alien with Bennelong and/or Windfield for the longterm prosperity of the project? I think so.
So why suggest a coup? Does an insider perspective not help cut the red tape in this situation? None apart from Alien are publicly listed, and within other economic juristictions...
Not a legal expert, but I just see this as a deramp from the TW team which seems baseless.
Happy to be consider opposing viewpoints.
Apologies HH - just saw your reply to PaulQ.
@PaulQ 16,000 tonnes estimated within the tailings. About 208k silver oz if 100% recoverable. Estimate is 90% recoverability.
Enough to fund the entire exploration of EH and funds to spread elsewhere in my view!
GLA Aliens
Silver better get a move on, if we get tailings and $40 an ounce for silver we are laughing. At the current physical price of $30 we are still quid in though but the extra ten would be very healthy
Looking through star brights posting he has a narrow focus on certain areas, this leads to him picking up on matters many don't which is a positive although learning to be less arrogant might help him get his point across.
But perhaps also lends itself to giving more credence to his own areas of specialty and ignoring others opinions or giving little to no importance to other factors he should be considering. Definitely wasn't a team player IMO.
I am always going to go with a more balanced approach and be happy to take onboard other opinions and focuses in areas I am not strong on to ensure I don't miss something positive or negative. If just my own opinion matters what is the point of wasting time on these boards?!
any way ive got work to do, good luck all
what lies HH jesus christ
@napth - like everybody you are entitled to your own views, but I personally found that Starbright's posts asked intelligent questions and tried to stick to facts when addressing all possible answers.
Most here seem to hold a view and focus only upon the information that supports that view, whilst being dismissive of anything that challenges it.
@ paul Q - I believe the figure of 16,000 ton of tailings was mentioned, grades within that are still being assessed but figures above 400g/t have been identified in parts.
Also just to add, didn't bill reply back to EWT98 re his questions and gave a heads up of what to expect in the last presentation (cool video's).
make your own mind up hey lol
@nap it doesn't really affect us though does it he can only sell once. Why you'd feel to come back a couple of weeks later is odd though , let bygones be bygones..
Looks like we have permanent exclusivity on the silver tailings lol #forthewin
Does anyone know how much approx tonnage is left in the silver tailings?
HH you should have questioned Starbright's motives. 4-8 weeks away from what we have been waiting for mr money bags ive retired at 30 pulls out now, he doesnt need the money he has told us, he doesnt work, but just before the results we have been waiting for he makes a statement that he has sold out, rather than just sell out and not post it. Suspect all the way from starbrights 1st ever post IMO
Sorry to see you go Starbright - there's not been many on this board whose comments genuinely make me stop and think and want to ask more questions, you were one of the few whose views seemed unbiased by personal hopes and whom I felt I should try and learn something from.
Best of luck.
HH
Don’t let the door hit on exiting
mr positive starbright has left the building, he can go enjoy his retirement now, good sign we will make a leg up soon, we usually do when starbright appears