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.
Ignoring the ever useful comments from our two Learned Friends, the question arises of how long can DGR continue without the realization of some cash from us?
The A$5m loan they took out from Choice, which bears interest of 20%, is due repayable at the end of November. They are also due to repay the £1.7m loan from Equities First at the end of December this year. They're also involved in costly litigation against the administrators of Armour Energy, so the cash pile will be diminishing rapidly.
One can only assume NM will be pushing Caldwell harder than most to deliver some form of realization here.
Interesting interpretation which, as ever, is wrong.
There's a useful word to describe your obsession with Caldwell - cathexis. It means the concentration of mental energy on one particular person, idea, or object (to an unhealthy degree). Seems to me this neatly sums up the situation.
Issued their quarterly report yesterday. There wasn't much of interest as it related to us, but one or two things caught the eye.
In the update relating to their investments, in which they describe the status of the various projects, they describe Solg as being at 'maturity'. I'm not sure what this implies, because it doesn't strike me that we are at a mature stage.
They tell their shareholders that we have successfully completed the CIPA. Have we? I thought we were yet to dot the i's?
At the end of the period they had A$4m available cash - this came from the Choice loan. Their staff and admin costs were A$1.2m, so they've got some headroom for the next few months, but one assumes they don't have an infinite ability to raise too much more cash. Mather must be itching to see some proceeds from us.
Q, how does your dividend strategy apply to solg? None have been paid.
I've been reluctant to buy into the manipulation argument, but we know the question has been raised by the company. Perhaps in this instance there's something to it?
If I heard him correctly, he unwittingly highlighted an anomaly in Glencore's strategy. He stated they have said they are unwilling to invest in copper at current prices, but that they know it will increase in value. If this is actually the case surely they'd be investing now? Why wait for values to move up? Seems slightly odd thinking, particularly as it relates to new and as yet undeveloped discoveries. I'd have thought now is exactly the right time to buy.
'Don't get carried away'! This from the person who told us the cartels would take over Cascabel and that the country was in a civil war. You've over-exaggerated every single recent event, so it's hardly me who's getting carried away.
Anyway, as I said earlier, it's good you're feeling a bit happier with life.