Member Info for addicknt

Q, what was the point of your first sentence? It appears that even when I agree with you, you take issue! Very odd.

Q, I agree with you that this doesn't suggest a bid is coming. However, I'd qualify that by saying it doesn't mean an AGREED bid is on the horizon. We have no way of telling if an aggressive bidder will look at our board turmoil and decide this a good time to strike. This has increased our already vulnerable situation.
We have lost five key people in the past few weeks, which, however you look at it, suggests something is not right.

Reasons for the departures:
Marshall - cost saving.
Ward - fully understandable and who can blame him?
Saridas - the real mystery. Was she pushed due to unsuitability? Did she fall out over something to do with the failed fund raise? Or did she not like what she found?
Given that Ingo has also gone, her departure is even more surprising.

atg, as we all know, you wake up from a dream and realise it was just that...a dream. It's time someone woke our board up, the time for dreaming is long gone.

our CFO didn't last long did she? The board changes are very surprising, to say the least. Something is not right at the moment - a very unhappy ship.

DBW, I was outlining the reason why it WON'T go into administration. Over the past few days a few people have implied that this may be BHP's plan.

Bozi, I was thinking about some of the speculation on here suggesting BHP could let this go under and pick it up from Administrators for next to nothing, a la SXX.
The institutions have bought into a story and that story hasn't changed.

Orthern, see my comment at 11:25. Mather will be an irrelevance if it comes to raising cash...he doesn't have enough. Our defence comes from BR, Norges and Valuestone. If the solids looked as if they were about to hit the fan, Franco wouldn't be too happy either. We are fortunate to have some stakeholders on-board with deep pockets - SXX did not.

Bozi, as you know, I share some of your reservation around what's going on here, but I would point out one significant factor - in my mind - which differentiates us from SXX, and that's our shareholder base.
GGP and DGR are an irrelevance, as they haven't got the money to support the company, but BR and Norges most certainly have, as have Valuestone. I simply cannot see why they'd allow BHP to paint us in a corner. At least, that's what I'm betting on.

I still maintain BCN is a better comparison.

MF, the reason you regard my posts as being negative is due to a bad case of confirmation bias.
You disagree with my opinion with regard to the future (and there's nothing wrong with that) and consequently read all of my posts accordingly. Sure, there are certain aspects of what the management are doing with which I disagree, one of which is communication, or lack thereof. Over the years the company has made many mis-steps and they have been deserving of criticism. If they do stuff right, I'll applaud accordingly.

Thanks, Bozi. I appreciated your comments.
RK, I'm sure you're right about the NDA.

Q, it's very clear the nature of his departure was not his choice - or if it was it was because he had no alternative. In these circumstances I consider it perfectly acceptable to go public, particularly as it's obvious he is not bound by a non-compete clause. My view is good luck to the bloke and I hope he finds something soon - if his announcement upset a few people, tough.
Btw, I haven't mentioned you lack of managerial experience for a very long time...but now you've mentioned it...

Q, I think IH posted on Linkedin not Twitter. As you know, Linkedin is the place people go when they're looking for a new job - so why was he being 'unprofessional'? The bloke needs a new job and there's nothing wrong with advertising the fact.
Under normal circumstances companies do not announce the hiring, or firing, of non-board members. However, with IH we did. Consistency suggests the company should have done the same with his departure. Failure to do so has led to much unnecessary speculation.
BTW, it's Fawzi, not Fawsi.

Q, I could have guessed you'd turn up with your usual nonsense.

LM, good point.

Oh dear, you really are having a breakdown this morning. I know it's warm outside, perhaps a darkened room beckons?
And by the way, I'm struggling to think of a single company which WOULDN'T tell its shareholders about redundancies/temporary lay -offs. I'm guessing you're one of those shareholders who believed the story about a lack of French translators, or indeed the many other half-truths we've been spun over recent years. You appear to be the classic example of a mushroom investor...good luck with that.

MF, good one! You even make the point for me! "...without knowing all the facts" Precisely - we don't and I think we should.
I know investors like you are perfectly happy to sit back and be left in total ignorance, however, a sensible shareholder tends to prefer being told what's going on with their investment.
Btw, where are "Andreas' mountains"?

It makes you wonder what our large workforce are doing with their time. They can't all be doing "fieldworks"...whatever they are.
Have they been laid-off, or are they inventing jobs for them? Re-arranging the stationary cupboard etc.
Surely this type of info should be shared with us?

latest RNS expressed a great deal of confidence (or bluster, depending upon your point of view) that finance will be available and many options are available.
Note to the Board: Get on with it and deliver asap.
I will say today's announcement should provide confidence to potential funders that the copper market is alive and well and it will make the task of them dipping into their pockets a great deal easier...hopefully!