Firering Strategic Minerals: From explorer to producer. Watch the video here.
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I didn't think I'd ever be underwater here.....
Better Call Zak..........
As a long term holder I had such high hopes for this share but must admit those regular interviews with Zak Mir in which Colin was so euphoric about everything seemed rather over the top
I was not impressed by announcing the annual accounts after hours and the chairman's report was nowhere as positive as all the interviews so not surprised about the sell off
I am not selling as still sitting on losses but only hope Colin will still deliver
Why all the biggish sells ?
RNS coming ?
Under 4p now
I agree Oliversydney, this looked like the best thing since sliced bread with all the positivity coming out of the interviews from Colin and now we are dropping again under 4p, so I hope he does another Zak interview and stops the rot. I won`t be selling now but certainly not enjoying the ride at present.
Copper price falling explains much of the problem here imv.
The drop has certainly created some liquidity - volume much higher than recently. Copper/Gold down. Don't see any material justification in the accounts. Overdone IMO. GLA.
I am not sure that the chairman's report was so much, 'not positive enough', it was more rushed and boring. It's the problem we've discussed before, Colin has quite a few companies and so has a few of these to write, he seems to be somebody who remembers he's got to write the report the night before and so puts out the basics and then grabs a whiskey.
It's a shame as there is much to shout about. Good Revenue (more than most companies when they sell an asset). Worldclass exploration speed in Australia. The forming of development of a major national asset area in Bushranger. We've had a reconsolidation of resources (nobody had any value for Kalengwe (or whatever it's called).
Triple digit growth in the manica revenue.
Finally No more finance needed (how many exploration companies can say that).
This year, we've continued to see strong growth in revenue and seen the massive milestone of Manica (empress) reaching production.
I am not sure why Colin can't simnply say - "Our African projects are being managed by other people (and are doing very well), we are looking for more african projects to do the same thing with. We are looking to get a partner on board to do the same with Eureka. As a company our internal focus is Australia - with the exploration being fully paid by Africa!"
Tell us with certainty when the model will come out. Tell us the actual strategy for Ascot. TBH there is so much that can be done.
At the end of the day, the revenue will eventually speak for itself and Bushranger will, but I appreciate it's painful atm and made worse by a Chairman who doesn't seem to have the time to dedicate to the company.
I dont think this drop has anything to do with the release of the yearly accounts yesterday. There wasnt am immediate drop or loads of sells on the opening bell. It looks highly likely its the drop in POC that has spooked some .
Fundamentals are unchanged and we have alot of income coming by October.
Re strategic report - an auditor would require support for any statement. Given the summary hasn't (TBD the motive for that) been released, I don't think he could be any more positive even if he wanted to be.
As always, theiceberg nails it with his view on the situation this morning.
The key point I think is that CB is spread too thin across too many companies, we need a CEO, something I never thought I'd say as it smacks of jobs for the boys but in this case I think it's necessary move.
A man half his age would be exhausted with his workload.
I said yesterday that the poor comm's has knocked at least 25% off the SP... make that 40% now. "Jeez" sums it up.
Jezzoo, I feel like I say this almost every time the "we need a ceo" gets brought out the bag.
I appreciate your view, you're entitled to it, but it has to be said: all of what we have currently is down to CB
- he's got us this far...
We have various income streams either currently operating or coming online in the immediate future (managed by teams on site/contractors), we have development on our Lachlan fold project down under being managed by the team down there.
It seems to me like our projects are being managed just fine, even if the timescales means we have to wait patiently.
What would paying someone 100k+ per annum bring to the table? - We'd still be at the behest of the sometimes glacial pace of mining.. A dedicated CEO isn't going to make a blind bit of difference to the amount of gold processed in SA or the speed of drilling/lab work in Australia.
CB still has my unwavering support as a long term shareholder - my view, for what it's worth, is that a CEO taking the reigns is a fairly pointless expenditure considering the model under which extract operate (royalty streams and/or exploration which is managed by teams on the ground) - 100k+ a year for someone else to ring those teams for an update and update the market? No thanks.
I agree I think Colin has too many companies on the go to devote enough time for each
In fact the last company he bought shares in the market was at the end of May was Tiger Resources TI R his vehicle which he obviously has plans for.
But good time him to spend his bonus on buying XTR
JDAU - Without good comm's keeping the SP strong, and a well thought out exit strategy for Bushranger, Xtract is vulnerable to being held over a barrel and shafted sideways. I'd be more than happy if they paid someone £100+k to avoid that.
CB has done a great job getting us this far but he is simply spread too thin and needs support.
Appreciate the sentiment Steve, my view however, is that Colin - with a track record of selling mines - will be the one at the negotiating table. We have teams in place doing the 'heavy lifting' within the various subsidiaries so I'm not sure I agree with the view that CB doesn't have enough support. I'm also reasonably confident CB has solid strategies in place re our various assets (including an exit strategy for Bushranger), it can't be helped if we found a new resource (Ascot) that has extended the timescales due to the desire to further explore... any other head honcho worth their salt would have made the same play as CB if they were in the driving seat, so why should we pay another wage for someone else to make the same decisions?
I'm genuinely interested, what is it - specifically- that those posters calling for a dedicated CEO think said person would be doing to earn their keep?