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"expectations are now skewed from failed PR strategy, but it doesn’t mean BR is a dud"
"Company looks fairly well positioned to me and imo undervalued at present mc."
I agree with the above points but because of the very poor expectation management by CB and his inaccurate forward guidance (being kind there) its difficult for many to have a lot of confidence CB will convert all the potential / good fundamentals into actual SP increase..
In short all trust has now gone with CB but that doesnt mean all future potential here has now gone.
It seems difficult for the sp to climb when in the back of your mind you have Cb's failed promises / predictions. Hence why many are only going to believe it when they see it ...........in an RNS.
May be unkind, but probably true, I suspect the sp may rise if a new CEO was announced. That may free-up many to then focus on the good fundamentals here rather than CB's historical baggage .
CB likes his football analogy's - well the players have heard the manager's team talk far too many times and it doesnt work anymore. A new manager with different tactics, but keeping the same side, will see an improvement in performance :)
LW I agree expectations are now skewed from failed PR strategy, but it doesn’t mean BR is a dud,
I cant comment on the Mozgold deal was before my time, I understand Kalengwa needed a few million to develop that was never mentioned or xtract ever agreed to pay towards. So the deal with KPZ could well have broke down taking eureka with it. Kakuyu early signs are promising but until there is cash flow there will be doubters, granted.
A million a month from Manica ‘may’ very well be in reach if and when deeper sulphides are mined and plant capacity increased to bring down LOM at current throughput from all mineral reserves. But currently at about half that soon, so will be in line to be within DFS output figures.
Company looks fairly well positioned to me and imo undervalued at present mc.
Imagine if it was reality that BR was actually an economically viable Tier 1 copper project and not Bird Figment, or that it was reality that Manica was generating $12m revenue for XTR and that too wasn't just a cheap sales pitch. Imagine too if Kalengwa actually gave shareholders something and Eureka was worth something to shareholders. Imagine if after 4 years+ of all the diversified deals the SP actually increased to give shareholders something to cheers about. Imagine if the company had actually managed to strike a deal which actually gave shareholders a return.
It’s a successful diversifying strategy for that very reason LW.
Imagine if the company had only stuck to Zambia and ‘not’ diversified?
Diversify the picking of duds ? You can hardly call the fails as a successful diversifying strategy.
>>Many of the other CB failures seem to be in Zambia and for the life of me I can't see why CB keeps going down this route
Andrew ‘apparently,’ It’s wise to diversify 🤔
Tbf CB has delivered an income producing mine at manica . I think it would be unfair not to acknowledge that success
As for JN taking some credit, CB was the one who stopped JN from flipping the asset and selling manica and that seemed to trigger CB's decision to remove JN and step in.
Many of the other CB failures seem to be in Zambia and for the life of me I can't see why CB keeps going down this route esp when there is so much more potential at FB to exploit the transition and sulphide ore.
If a new CEO came in now I'm sure he or she, would re focus on manica and BR, and bin the zambia treasure hunts.
The fact is none have been successful under Bird's tenure despite him spending 10's of millions, I'm thinking ~30m+ in cash calls, of shareholders money, on his 'projects''
Manica was bought by Nelson!
I am only interested in what the company can deliver to its shareholders from the assets it currently holds and with the view of adding others under the current growth strategy. That is what is important going forward. As has been pointed out, many will fail, but some will win. Nature of the beast that is exploration.
It’s not the point I was commenting on or be inclined to. My point was >> I see no reason to not be confident in the company to deliver good news.
howezap. surely you must recognise that lw's list of failures, ****ups, and cb's grossly misleading public statements have destroyed cb's credibility which in turn has affected the sp.
I was referring referring to current deals/assets not current share price LW
Sorry for not being clearer.
All the deals have amounted to a SP of sub 2p... quite a lot to do with current wouldn't you say ?
Your kidding right ?
What have other deals got to do with the current LW?
No reasons apart from the MozGold deal, Eureka, Kalengwa, XTR's share of Manica not as promised, BR being Tier1 not actually being Tier 1 .... ermmmmm, ermmmm, apart from those problemets no reasons for us not to be confident that there isn't any can kicking going on or for us not be confident in share holder value actually being delivered.
Not seen the board so negative before, but at least let’s wait until the updated conceptual feasibility study is out with the economic assessment before writing BR off.
Pre concentration of some kind or other is a normal and serious consideration for any project for resource optimisation. Amongst them BOS can have the biggest effect on economics overall to reduce the CapEx that will have a major impact on discounting that cost to build the mine, (normally about 20%) on top of the 7-10% discount rate to ascertain NPV. So it could be really important for the projects IRR desirability, so hardly done just to kick the can down the road that was posted earlier.
I see no reason to not be confident in the company to deliver good news.
~23p with current shares in issue...Dream on - Gimme 5p and I'd count meself lucky.....
$200m buyout?
Only if ……how much does that make each share worth
It has to be held no later than 6 months after end of year results - so by 30 June latest
We must have at least 3 weeks calling notice so it has to be called by 9 june.
I suspect it will be held as late as possible to give cb as much time to get good news in - so Friday 30 June could be the date
We should be getting an RNS announcing AGM in next week or 2 weeks at latest.
Delay could be because CB is finalising buy-out from AA for $200M and wants to announce it just before AGM. I may be wrong about that though...........
When is the AGM and have you received any registration documents to attend? I would like to go.
"I sincerely hope there will be a whole bunch of LTHs who can give him both barrels. "
I think CB must be aware that he's going to get a deserved hard time at the AGM, so I would expect CB to try and use some tactics to deflect or reduce the heat on him by getting some news out soon, even if it has to be just via an interview, about FB income.
With POC being where its is, I'm struggling to see how we are going to get any good news re RC in the next 2 or 3 weeks so he will have to major on FB income.
No doubt we will get a few exaggerated claims mixed in with the facts.
Maybe he will bring out the old one liner about "$1m a month income this time next year !"
He hasnt used that one for some time. At least that should please Dani :)
Why not sell the whole company ( 6/7p) and be done with it all. Bush. has got to be worth something! 0
I completely agree with the previous comments. I hope with all my being that Colin appreciates that he alone is responsible for the hyperboles RE size of BR, irresponsible statements in interviews with Zac and the Roast boys RE timescales.
Shareholders now know they simply cannot trust any of his forward guidance. ("Bow on it by April 2022", "I'm not worried about grades"). The wider AIM market investors have cottoned on to his shenanigans - part truths, exaggerations - and are staring clear.
I am disappointed I won't be able to make the AGM - I sincerely hope there will be a whole bunch of LTHs who can give him both barrels. We have had almost zero visible progress with BR since the last AGM and the ultimate weather vane, the share price has plummeted. On your head be it, Mr Bird. Pull your finger out and sort out this mess - either by stepping aside (you evidently have not got what it takes) or being honest with us all.
*Small caveat: the above can be ignored if we sell for 10p in the period for the AGM. Unlikely but Colin might be dreading what's coming at the AGM...
Well put NtMU - I do disagree that he should stay.
His credibility is in tatters after the way he sold BR to shareholders. And, I mean, how unprofessional can you get in trying to gaslight shareholders stating they didn't understand the type of system. Suggesting a 100y mine life and we'll count ourselves lucky if we get 9. There's no mistaking this 'asset' [BR] is not even close to what he'd been selling to SH's. In public forums no less. it's all on tape there is no backtracking from the lies!