The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For my sins I have added today after hearing that interview, folk here are speculating on this and that regards operations, the truth is the share price has been trashed by TW & Co's concerted attacks on the company and the likely forward selling of the placing which was quite small in the scheme of things.
I do not like the company Bird keeps from a corporate perspective but on the flip side these entities were around when the shares were flying above 2p
From a technical perspective the shares are oversold so I would not be surprised to see some forward movement shortly, there have been some massive up moves in the junior resource space in recent times, it would only take one piece of decent news to stimulate large volume and associated upside with XTR.
You can argue it both ways re first post....and you'll always get big bumps in the road with this sort of co, but SP has halved, it's now funded, and a large player has put in a large un-secured loan - that's just my take, I'm not here for 2p, I'm just trading it for 20%-30% I hope
Another thing, Bird mentions in the interview that the Aus deal has now been ratified by Gov. (This links in with the need for funds to drill) Is that not price sensitive information though? - Should that sort of information not be disseminated via RNS?
You make a fair point UKI2 - One of the problems with this company is that it's practically impossible to contact them and get an answer to questions.
Bird could have easily covered this in this mornings interview but for some reason chose to be vague. I reiterate, why would you not mention the borders opening in an interview on the day the borders open?!
I think you're v well informed so not arguing back but asking, would Sanderson have done an un secured loan if any issues?
I just have a really bad feeling that not all is well regarding our contract with MMP. How have they coped with C19... are they ok financially ? Can they fulfill their side of our contract ? Something's not right here...
thing is, SP has halved and funding now secured, this may well be priced in , or more
Gixxer
Unfortunately, that is the conclusion I am coming to.
We are asked to believe that C19 issues only affect the HR plant construction (we know equipment can now be shipped) but has not caused any issues with the other contractors in Zambia and manica .
I'd like CB to explain what the C19 issues are and how they only affect the mine construction.
Agreed - I feel Bird is now using C19 to cover up for some mishap? - In any case, I see no reason why equipment cannot be shipped. (with the correct precautions in place)
Bird states that everything is progressing as forecast and that the placing was done at market value.... is he related to Trump by any chance ? Bird's forecasts over the last couple of years have been not seen the light of day (this was before C19). Lets see what Q3 and Q4 brings. grrrrrr
Where is the plant coming from though ? I mean im guessing that once the borders are open it will take a while to truck it through. Not many good roads in Africa me thinks....
yoshie... it would be more palatable if the MktCap and corresponding SP had increased over these succesive fund raises and dilution to share holders wealth. There always seems to be a good excuse why that hasn't happened. Not the best pleased here. Bird always seems to manufacture a spike before a placing before we end up back at square one. Why wasnt the loan facility put in place months ago ? Why now ? Does Bird know his promises are soon to be shown to be hollow yet again ? I wait with concern the Q3 results and yet more excuses that MMP are unable to proceed... I truley hope Im wrong but the new loan facility announcement rings alarm bells that not all is well ("Omnia walking away" or the "Moz Gold" scenarios spring to mind.). Bird is supposed to be working for us shareholders by delivering shareholder value but loans and placements with companies that profit at our expense whilst partaking in media presentation economies of truths have delivered nothing but dilution upon dilution with no shareholder value improvement. I feel for those who have been savagly spiked by the latest shenanigans. Not good enough Mr Bird... not good enough at all.
If C19 is causing other problems (in addition to border closures) then why didn’t he say this before? He certainly gave the impression, many times in interviews, that the only issue was the border closure. And as he said...once that's open, we're off !
In addition, how come C19 is not stopping the alluvial contractors working or the free milling contracts which are due to start very soon. They seem to be managing fine and working within the C19 restrictions.
This doesnt pass the 'smell test' imho.
Can't believe CB keep on drawing on funds/loans or placings all these years. Should have sold Manica years ago for £7m or £10m and pay shareholders with proceed.
Think he just keeping job for him to do & get paid.
So, I take it from the ST interview is that Bird appears oblivious to the fact that the Moz/SA border is now open....Surely any CEO would bring that up in an interview?! (Especially in an interview on the day the border opens?)
very very very odd with wierd toppings on top
perhaps even very odd i'd offer JDAU
NtM, that's a pretty odd comment at the end of your post.
Tricky for me in deciding whether to top up here currently.. somewhat tempting but I'm holding off so far.. we really need some good news on plant move across the SA border asap... that would start some sort of a decent bounce back imho.. but if that is delayed from here then i guess this could easily go - decently even -sub 1p though.. (i'd defo add some then, but hope it doesn't happen for the rest of you long suffers, and indeed me to a reasonable extent again now too)
PS; I hope JDAU hasn't fallen out with his Dad over the last day or so.
You all seem pretty desperate to drag me into an argument...
Want my view that badly?
Ok, the company needs cash to develop it's assets at a good pace in order to increase their value/work towards potential sales: https://www.lse.co.uk/rns/XTR/issue-of-equity-01t8qcgwv89gslw.html
Due to Covid-19, there is uncertainty over timescales, it seems sensible to subsequently have the ABILITY to fund the company further should we need it, without tying ourselves to it - should we not: https://www.lse.co.uk/rns/XTR/funding-facility-ejpywjz1jvzb852.html
Add into the mix the, well I'll save my personal views... Tom Winnifrith and you have our current situation.
All I'm saying is it doesn't take a genius to work out who's going to be buying all these cheap shares now they've had the ... kicked out of them.
Painful to watch, but I'm happy to do just that from the sidelines.
PS. for clarity, my views on TW aside, the company has done a fund raise to steady the ship in turbulent times, I'm willing to cut them some slack as I don't think either of the setups are particularly bad and nothing has changed re the fundamentals I'm invested for.
To paint a simple picture of my view: we still have the assets, we're still progressing the assets, they will deliver significant cashflow compared to our Mcap.
Bought a few, halving since start of month on 15% or so dilution is a big move and chart looks decent....eyes open though!
Surely even JDAU is getting pi@@ed off with Bird's shabby management of XTR...........
Chepica... Yorkville... somebody wake me up
fair points well made Gixxer... this has morphed into something far bigger than most betting here for Manica purposes envisaged, for sure.. but that's often the way for AIM companies (eg my biggest bet is save.l what that is now versus then etc ) and all could still work out great here.. much chance involved, as ever, of course..
The biggest copper project was taken on well into C19 NtMU (1 June 2020) - The fact is, time and time again CB has shown a lack of respect to shareholders. I do actually agree with TW in terms of an open offer if dilution is a must. Why did he not take this route, I imagine it's more work than he could be bothered with.
Let's be frank, this is a bit of a hobby to CB, he doesn't need the cash - The 11e6 shares he holds in this company are, literally, peanuts to him. Does he want this company to be a success? I imagine so, but I also imagine it's more out of ego than caring what happens to Pi's and their hard earned...