Member Info for addicknt

On the 3rd Oct, when the price was 10p, who said; "Still a 5x bagger for me"?

The same person followed this up on the 4th Oct, at a point when the price was still 10p, with; " Anyway. On a positive note. I got in at 3.5p so a profits a profit" (sic)

Try dividing 10p by 3.5p and see if you can come up with the answer 5x.

Have a lovely holiday and let's hope you don't wander off into the Outback, never to be seen again.

Needabrain, this will come as a terrible surprise to you, but not everyone on this bb has led the same sad, useless, miserable and failed life that you have.

1) Are they staring at the screen like startled rabbits in the headlights wondering where to turn next?

2) Are they keeping quiet because they're close to delivering a monetizing event?

3) Are they ignoring the current panic and are simply getting on with negotiating licences, the IPA and all the other stuff that's been talked about in the belief that the announcements of these agreements will resurrect the share price ? In fact, do they pay any real attention to the share price? (I've known one or two CEOs who've claimed they don't look from one month to the next, which always struck me as being pretty irresponsible.)

DM, re your post at 9:26.

I suppose everything hinges upon the word "development". Does it mean we actually construct a mine before selling it? Or do we simply design it? Do either of these activities really add shareholder value? Given the amount of money required, I can't see how they do.

This has caused so much confusion and you've got ask why don't we simply admit that we are explorers and leave it at that?

Q, I wasn't, because I didn't believe it, and it surprises me that you still do. It was all bluster.

The position I've always maintained on this was that he may have had expressions of interest, which were caveated with the comment; " come back when you've got a DFS". Not the same thing...not by a long-shot.

Anyway, it's ancient history, but I remain wholly convinced we couldn't raise anything like the amount needed.

Incidentally, I agree with you a jv is a possibility - one where we will be a minority partner. I sincerely hope this doesn't come to pass.

Q, I'm afraid the company's track record in this respect is not good. Who can forget Ingo's utterly ridiculous claim that he'd lined-up 1bn without breaking sweat?

Q, you were always of the opinion that we could raise 2/3bn for the development of a full scale mine. It's now completely obvious we can't (it didn't take a genius to work that out) and that we're struggling to design a mine to fit the level of finance we hope, and I stress the word hope, we can raise. To me, this is utterly absurd.

Sean, it was all hubris and, as is always the case, it bit him in the ar5e.

Mather sits in his office in Brisbane looking at the screen, I wonder what thoughts are going through his mind?

Is he completely unconcerned as he knows what's coming, or is he pulling out his Brillo Pad hair as he watches a good part of his wealth go up in smoke?

And what's our useless chairman up to? Anything?

DBW, you're right about taking a step back and thinking about matters more carefully. And one of things we should remind ourselves of is the CGP deal.

Not only did we pay a high price, but we also spent $16m on fees (I recall someone on here saying they would only be a couple of million). Why did we do it if the board were pessimistic about the future?

Of course, many management teams get this sort of thing wrong - for example, most of the major miners in the M&A boom years, but did ours? Surely a year ago the fundamentals i.e the assets, were there? Have things really changed so much in the past 12 months to justify the current value or to make the deal look stupid?

One of the arguments about the deal was that we had no choice and it was a defensive move. Really? Every board has the choice and if we knew things were not as they seemed, no one in their right mind would have progressed.

Weighing up the various messages, I'd say we're spilt roughly 50/50 with regards to voting intentions, although there's plenty of nuance in some of the opinions and people may be swayed by what does, or doesn't, happen between now and December. Either way, he's not in a comfortable position.

Does a 0.5% short make any difference at all?

Sean, why would we have a placing at the moment? We're wedged-up.

Go to bed you old fool. Those two brain cells of yours could do with a break.

Fort, I don't believe that for one moment.

Caldwell stated they'd had a number of approaches to sell that block but turned them down. My own view is that this means they don't want any more dilution before the exit. I know, I'm a naive fool.

TheItalian, he was quoted as saying they were working on a 'proper monetizing event'. Surely that means a sale?

Eloro, I'm not sure about the child bit, but he does have the intellect of a bowl of particularly thick mulligatawny soup.

DM, I guess the point is that there's so much more going on behind the scenes that we don't know about. Of course, this is true of every public company and we only ever get edited highlights.

Eloro, that's an interesting conclusion. Sangha clearly supports Caldwell, but you won't vote for him. Bear in mind, Caldwell's doing the work, Sangha's task is simply to flog it.

Thanks, Eloro. He sounds confident, which I guess isn't surprising as he's the one tasked with flogging the asset.

If this was an excerpt, did he say anything else interesting?

Good post rcgl.

Eloro, sounds interesting.