Member Info for addicknt

Fort, fair enough. We'll agree to disagree.

The one route which is in our control and not dependent upon outside influences, is the stated option of spinning-off certain other assets into a publicly quoted newco. I wonder if we're heading in that direction with our approval being sought at the AGM?

'let BHP have a go'! They'd roger us backwards.

You must be getting desperate if you think BHP would be a better bet than Scott &Co.

One further point: the transaction was not an XLON trade, it was XOFF. To me it looks more like a transfer between two entities controlled by the same party, particularly as it had no effect on the market price.

Genuine question: Given it was an off-book transaction, how do you know? If it appeared on L2 as someone wanting to buy that very specific amount, does the fact it was fulfilled imply that someone else was happy to sell them in an off-book deal?

Jezzoo, it was an off-book transaction, so we have no way of knowing if it was a buy or sell.

Re: DBW's point about being in a closed period.

It would be very revealing if this is actually the case as it would imply some form of major announcement prior to mid/end Nov. Although SC down played the 'special' reference in his conversation with TI, perhaps his response was a smokescreen?

So, to continue the wild speculation, let's assume something significant will be announced in November that requires our vote at the AGM. I live in hope, but am not holding my breath.

Fort, your position sometimes mystifies me. You want a sale, as do I, and yet are implacably opposed to the bloke who is most likely to deliver it.

Caldwell inherited a steaming pile of inefficient and directionless effluent and he's doing his best to rectify the position and to deliver value to shareholders. The idea of returning to the 'old days' is genuinely concerning and, in my opinion, wholly misguided.

DBW, I think a closed period is applicable for 30 days prior to any price sensitive news. So if they are indeed in another one, it doesn't relate to the AGM.

Eloro, and I think you're mistaken.

If he's booted out and the sp drops by 50% the next day, how would you feel about your decision?

Eloro, whilst I agree the comms have been terrible, I most certainly don't want a CEO whose key strength is PR. I want someone who knows what he's doing and can negotiate well. This is far more valuable than someone who's good at blather...just look at that ludicrous character James Parsons who was at SOU. He won the AIM market corporate comms award, just before he flogged his shares, buggered-off into the sunset and watched the company disappear up its own fundament.

Bozi, re voting intentions; I'd suggest BHP and Newmont are the unknowns. Has he done enough to repair the relationship with BHP? Have Newmont been persuaded by the argument? What has he promised them both in return for their support?

Interesting to read people's views that Caldwell is doing 'nothing' and specifically that a lack of exploration proves the point.

Out of interest, would those people support another round of fund raising and further dilution? Because that's what would be needed if we were to launch a new programme of drilling.

It seems to me that we've stopped all exploration activity not only to preserve cash, but because the management team believe that something will emerge from the SR which will mean additional exploration would be unnecessary and that they wish to avoid further shareholder dilution in the short term.

I'd also argue that he's busy enough negotiating with government officials and dealing with the SR process.

Incidentally, the idea of voting against him at the AGM is an act of considerable self-harm. Our sp would be further decimated; what remains of our credibility would be shattered and we'd become incredibly vulnerable to all the low ball predators out there.

SC is involved in a process of 'prettying-up' the company for an eventual sale and he must be given time to complete the task.

Eloro, how do you reach that conclusion?

TI, thanks very much for taking the time to call him. Some interesting responses.

Sjn, you are partly correct.

One of the most reliable global economic indicators is the Baltic Freight Index and its various constituent indices. Over recent weeks the market has shown a significant rise in the value of cape size tonnage. These are the large vessels used to transport iron ore, coal etc and which are too big to fit through either the Panama or Suez canals.

The benchmark trade routes used are those to China and are indicative of how robust the Chinese market is. Generally speaking, a rise in freight rates for cape size vessels indicates demand for essential ores, such as iron ore and copper, is rising.

Of course, like all forward looking indices it's not infallible, but its track record is better than most.

DBW, yep.

Both parties i.e the government and ourselves, have a relatively short period of time to get this to the point of no return. They must not waste the opportunity. A fact I'm sure hasn't eluded Caldwell.

Bozi, my post was tongue-in-cheek, although I'm not sure how anyone could think a president linked to the corruption of Correa would be a good thing.

Oh good! We've now got one of our bears suggesting the new president is a drug dealer! What next? A people trafficker?