Member Info for addicknt

have upped their price target to 65p.

SM, that RNS was very instructive. It states, inter alia, "reduction in the workforce across all areas of the company", and, "reduce the number of time zones the company operates in".
This last point clearly demonstrates the future's in Canada and I'm sure we're going to see the closure of the Brisbane office soon. I'm guessing London will also shut-up shop (if it hasn't done so already).

Q, I'm really not sure how you can say this when the company has already stated there will be an indefinite delay. But believe me, I'd be delighted if you were right.
As for the appointments, I think the CFO position points the way to a spin-out of the other assets, accompanied by the eventual sale of Cascabel. I'm more cynical about Caldwell's position and have a horrible feeling he's been given the permanent role so that he can be given a bunch of options.

orthern, apart from the last sentence, you have no idea if any of what you say is true.

I imagine BHP/NCM will be absolutely delighted with the options award.

Q, can you please explain exactly what steps are being taken which lead us to production?
Apparently we have 'enough' information, although we have no idea for what. The DFS is so far away that even the Hubble telescope can't see it, and absent a DFS we can't raise finance. Additionally, we appear to have shed many of our key staff, so I'm intrigued to know how anyone can possibly think we are heading to production - it just doesn't add up.

More options and a new 'incentive plan' on the way - which we will be able to vote on. Hmmm.

Given that he's Canadian, does this indicate a continued shift of the power base away from OZ?

CFO. Caldwell to become permanent CEO.

It's getting increasingly difficult to square these redundancies, including that of Fawzi, with the statement that we're 'advancing' Cascabel and exploration is continuing.
The company is giving the impression of being mothballed and I'd love to know what our numerous employees in Ecuador are doing with their time.

DBW, yes, I had a look at the web site last week and noticed how thin on the ground we are. Quite why such a small team needs three offices is a mystery. Maybe they haven't heard of Zoom.
Metooo, I also checked him out on LinkedIn, maybe Newmont have already taken us over and our lads have forgotten to mention it.

So no one knows who Robinson is?
BTW, I've heard a rumour about the update - they've got a new set of photos of the bakery.

BTW, who is Chris Robinson?

'Along with some other updates'. Sounds promising.

DM, every little bit helps!
Re: the offices. I made a similar point the other day. Assuming Fawzi has indeed departed (still no definitive evidence), who actually works full-time in the London office? And there are only 11 people listed in Brisbane, although I suspect Twigger and Mather would be reluctant to close it. Caldwell and Sangha are the driving forces and we know where they're based.

Or maybe our absence is explained by the new cost-cutting regime? Too many conferences?

2Luke, so you don't think Mather's statement to his shareholders last year was in any way driven by a desire to assuage concerns they may have? Let's face it, his comments represented a significant change of stance and there must be a reason for that.
As I pointed out, they don't have an immediate liquidity problem, but the deterioration of their balance sheet must surely be of some concern?

They also have a 3.1m loan from Equities First secured against 12m shares in ALL, which is due to be repaid at the end of next year. It carries a 3.5% interest rate.
I've never paid much attention to DGR, but given the current situation, their financial position is of direct relevance.

DBW, my apologies, it is 8.25%.

produced their half year report yesterday.
A few things stuck out, such as a very significant negative movement in the fair value assessment of their investments and the fact they only have AUS$1.5m in cash. They have also stopped charging us for management and advisory services, and I imagine the recent shenanigans at ALL may have caused a few flutters.
It's a company that doesn't need much cash, but at the moment it doesn't seem to have much scope for future investment, which, to my mind, provides an incentive for them to realise a return here. Its holding here is reported as being 8.5%.