Member Info for addicknt

I know this won't be popular, but I didn't like the deal when it was originally suggested and I'm not sure I like it any more now. Mind you, if it leads to an improved share price and ultimately something more exciting, I'll be a lot happier.
The one thing it does imply is that we're obviously very confident that we're going to have the cash, and that is excellent news.

RK, I seem to recall another of their politicians saying something similar a while back and being surprised that he had no regard for issues of confidentiality etc.

RK, I seem to recall another of their politicians saying something similar a while back and being surprised that he had no regard for issues of confidentiality etc.

Bozi, great lunch thanks. Old uni friends, one an ex- Goldman's partner, the other an ex-ceo of a Spanish bank. I have to say we were very gloomy about what's going on right now. Oh well, things seemed brighter after the fifth bottle.

Fort, I've just seen another post in which you have a dig at me. You and I appear to agree on virtually everything and yet you still post snide comments.
Many people on here describe you as a total ****** and I'm beginning to see their point.

Fort, yes, out at lunch with friends. What was your point?

RK, BHP do not describe themselves as gold miners and it does not form part of their strategic ambitions. I don't know how they'll deal with gold at Cascabel , maybe we come back to the jv with NCM? I'm sure there're other companies that BHP have their sights on other than NCM.

Sutherland is excellent and one of the best contributors to the Spectator. I love the way he looks at problems and he never fails to make you think.

RK, why would BHP want to merge with NCM?

SM, yep, agree with all of that.

DBW, yes, possibly, but I assume you accept my argument about the start point? It's far easier to negotiate from a position of strength, but we are not currently in that position.
We all have our own views about an exit valuation and I'm sure none of us are happy with where we are now. I don't want someone to nick this whilst we're at a bargain basement value.

Sadly, it's the market which dictates the value of your shareholding. So you can whine as much as you wish about its inefficiencies, but it doesn't change the facts.
I'm here for the same reason as you and, like you, believe some form of corporate action is in the offing. My gripe is that our board has put itself in a bind, in as much as the start point for any negotiation is now much lower than it was.

Fort, I absolutely agree with you that NM will not be taking this lying down, but as it stands, the market is only interested in hard facts.

Q, I accept all of that, but none of the reasons you provide are an excuse for the company not to be properly funded.
Clearly, the company had a plan for financing, but our main shareholders objected...this is irrefutable, and the consequence is that we're very exposed, which in turn has decimated the share price. In other words, a strategy approved by the board (I'm assuming it was ratified by them) fell to pieces due to a failure to understand our shareholders position. In other words, the board is directly culpable for the current situation.

RK, yes, that was quite funny: "We'll adhere to the guidelines, but only when it suits us".
I think if the entire board is put up for re-election they'll have to produce some evidence to demonstrate they are value for money. What exactly has the non-exec element of the board contributed to the company this year? because it's sure as sh*t ain't value creation.

Fort, absolutely - their silence is both deafening and instructive.

Q, again, I agree. I believe another streaming deal is completely off the agenda. I'm convinced we were attempting to do one with Boliden and it's that which caused the fuss. Personally, I'm relieved we didn't go ahead as I think they are a drag on long-term value and are expensive ways to fund a business, although I understand many people would disagree.
The real problem we have is one of time...it's running out. I agree life would be so much easier if the PFS and PEA were already available, but they aren't, which means we'll currently be talking to investors without that useful information. Mind you, I'm sure they'll already have a pretty clear idea of how things look.
As I said previously, we are at a really critical point, and although we've been here before, this time feels different - in as much as we've never been kicked back before whilst trying to raise cash.
Anyway, I'm sure DC is working his balls off to get something done asap.

Q, funnily enough I agree with you, in as much as we know what the company was trying to achieve was as you describe. We also know the company failed at its first attempt and the key question is; have they had to completely reconsider, or are they pushing ahead with funding via a different route? What are the pressures being placed upon the board by our main shareholders? Is the company having to contend with competing interests amongst our shareholder base?
Circumstances change and company boards shift their plans accordingly. So if I were you, against the current backdrop, I wouldn't place too much store in what they've previously said. This is a very fluid and critical situation and the company must ensure they do something which will gain support from shareholders - at least they will if they want to keep their jobs.

RK, this is all good stuff and no one doubts the longer term future for copper, however, we'll all be feeling a great deal more comfortable once we've got some cash in the bank. (and before anyone says it, I know we've got 20m, or thereabouts, but the next two months will pass in the blink of an eye)
As far as the fund raising is concerned my guess is that Twigger is having to earn his keep. DC has no capital markets background and an interim CFO doesn't cut it in terms of getting a tick in the box from investors. The loss of IH was a serious blow and whilst Saridas disappearance is mysterious I don't regard it as that significant. We really do need a new full time CFO.

smick, indeed, but we all know about our ability to meet deadlines. (that's just me being overly pessimistic)
Fort, I agree and I hope you're right, but, my own feeling is that we're going to get the funding done first followed by something meatier next year. Who knows?