Firering Strategic Minerals: From explorer to producer. Watch the video here.
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AGM should be intersecting:)
CB's usual tactics of distracting and smoke and mirrors wont work now and he is going to have to deliver something pre AGM to avoid a very very hard time.
His usual distracting tactics have worked well, and this sketch sums them up what he was doing to all of us for many years !
Good luck at the AGM CB!
https://youtu.be/QX0r6DsvXAU
Interesting not intersecting...but then again if it gets very heated???
I think it's 17 weeks if it's a leap year Dani.
Can you check if it's leap year for me
Wink le
I don't think it will be until August at least IMHO
Is Up Very North Scotland ?
I'm going Oop North today but only as far as God Own Country.
I had to sell to buy myself 6 pen'arth o' chips when I get there.
Colin needs to make a statement regarding this total mess.
On TG Kevin said there will be in interview with CB
No date given.
Poor CB. He's going to face some really hard hitting and difficult questions from the roast guys!
Roast: So Colin isnt this a good time to buy in to xtract at this very low sp?
CB: Absolutely, its very undervalued at this price and I'm utterly convinced the SP will be moving higher soon.
Roast: Thanks Colin, bye.
Dani, did the annual accounts come up to your expectations ?
Dani... explain your comment
"Joel been cooking books to make things look bad . Just my GUESTIMATE"
Why would he do that ? You might do that if you were wanting to hide cash from shareholders maybe.
But why would he do that ? was cash needed in another of Colin's companies ?
Another pile of s***
LW 13:25 Ref Dani.
My thoughts ref Eureka, all would be gushing, had we the money in bank from sale of BR, but as we don't, (yet), better an imparment for 2022, to set against taxes, than raise un-necessarily, considering cash levels declared.
I note this remark too, as it could very well be applied to Eureka, once BR and it's 1.3 MT CUEQ, is finally sold?
"Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately, unless the relevant asset is carried at a revalue amount, in which case the reversal of the impairment loss is treated as a revaluation increase.".
ie, Eureka need not necessarily be dead and buried, it is for now, at least impared, might be useful in shorter term to set against group taxes for 2023?
Kakura on the other hand appears self sustaining, or within projected Fairbride income going forward, which April to Oct (at least) will be based on our share of operating profits from 65kg, or more of production.
Just my musings, I may be completely wrong?
NB, the below musing, is based on Colins statement, where he says:
"At this stage we have minimal intention to continue the Eureka Project and the Company has therefore impaired all costs relating to the project."
Hey joey
Xtract will not be intending to mine as you have said. The ‘decision to mine’ is just a term used in the buyback agreement along side 2mtCuEq as targets that Xtract are working toward.
One is just target size, the other, now the preferred option is to show an economically viable mining model at PFS level.
One or other will trigger the buy back mechanism, a pre determined process that a value of asset will be reached if AA decide to take up their option to buy back in. Or subsequently not decide to, where xtract will be free of the legally binding agreement and can offer the project to the global market.
With the desired outcome being a 100% asset sale regardless.
The company have announced that they ‘don’t’ foresee a fundraise in the next twelve months to advance the current projects.
Can tolerate the cheeky cross ramping out you taking the p155 now and of course your opinions regarding Colin Bird are just that, but please dont spread misinformation on a company you clearly don’t know much about now.
You are now coming across as rather intolerable to put it mildly.
But no-one who posts here has an agenda, right? Guys?
They've said they think they don't need to raise funds for the current assets, but I find this statement from the RNS a little worrying.
"We intend to maintain the profile if results allow and only seek cash for new acquisitions"
I just think the man's a compulsive gambler, and using our money to fund his addiction. Everything he buys is the next big one, but then turns out it's not quite as advertised. it's then hidden in the cupboard, with all the others, after having loads of our money spent on it.
It's time to focus on moving the current assets forward and deliver some value for shareholders, not looking for new ones. If he can't do that he needs to step down, or be voted off, the next time he's up for reelection at the AGM.
"I just think the man's a compulsive gambler, and using our money to fund his addiction"
Exactly.
He wants to find another Kiwara before he leaves the stage and knows he hasnt got that long left. He's taking greater risks to deliver that big one.
He probably thinks focusing on and progressing FB is just too boring and not exciting enough.
If he wants to keep buying lottery tickets then he should use his own money and not ours.
He wont change now. He needs to go.
>>He wont change now. He needs to go.
Fully agree, Bird has literally blown 10's of millions through cash calls since he's taken over from JN and what do we shareholders have to show for it? - Nothing.
Now himself and his mates have made plenty!
"and shareholders can rest assured that management will not make hasty decisions to acquire new inferior projects."
Is that an apology for all the previous inferior projects that are reflected in the SP ?
It would be nice to interpret that as such and a reassurance that he has learnt from his past mistakes.
Problem is, its probably CB trying to justify his next lottery ticket buy to us , and implying that....
"this time it will be different. No really...honestly guys.... I promise !"
"It's time to focus on moving the current assets forward and deliver some value for shareholders, not looking for new ones. If he can't do that he needs to step down, or be voted off, the next time he's up for reelection at the AGM."
Completely agree. We need to get some kind of consensus around this.
Any way we can put a motion in before an AGM about no new acquisitions and focusing on FB/BR exploration?
Would any of you be interested in getting a group of us together to discuss where WE, as shareholders, want the company to go and what we want to do about Bird et al?
if there's enough SH interest, say, at least 50m in shares we can actually make ourselves heard.
If there is interest I can maybe set up a skype call before the AGM so we can get organised - Just can't go on like this!
Use telegram, set up a new board and share it on here.
Gixxer some info from the web about getting a shareholder resolution on the vote at an AGM.
At least 5% of the total voting rights of eligible members, or at least 100 members representing an average of at least GBP£100 each (GBP£10,000 collectively).
So maybe 100 shareholders, or less if our holding adds to 5%, I think CB couldn't ignore that call. The XTR telegram group has over 200 member, and I think lots are disillusioned, even with the roast guys now.
At least let’s wait and see where BR sits first. Remember it’s an experienced geo management team that have been pulling the strings in oz.
In all honesty, I was expecting another raise to see the last push at BR toward the AA option. To have announced they will not need one, pending results from production continually operating within its expected parameters I guess, so whilst it’s frustrating having to wait for results of ore sorting and other pre-concentration options. It can only help to allow time for more income to be banked.
It may point toward the thinking that the 5.6p and 8p warrants that are still active until end of October, the target prices are not ‘too far’ out of reach if a PR drive is planned with pre-concentration study, updated conceptual study with Q1&2 bankable cash. That’s a decent array of news.
Kakuyu is looking to be seeing a methodical process to show its feasibility, are clearly not just diving in.
But ultimately a progressive stream of new projects that fit the ‘description’ in their strategy for growth, are necessary for diversification, the future longevity and continual growth of the business.
Safeguarding the future of the business should always come first and foremost wether Colin bird is at the helm or not.