Member Info for addicknt

To remind people we're still here?

DBW, when was the last time anything interesting appeared in a presentation? Any news will come via an RNS, not an investor event.

I should add that one of the indicators that this may happen is where the senior management team have very little of their own money invested but have significant exit bonus packages - which is why I'd like to see what deal DC negotiated.

re: your post at 17.34.
You're right, there have been many occasions when management teams have done their best to suppress the value of a business in an attempt to force a sale. This was particularly rife in large companies with multiple divisions in the '80s and '90s where the team of an unloved subsidiary wanted to perform an mbo. Lazy main boards simply rolled-over and thought they were making themselves look good to the market by getting rid of an under-performing business - Premier Brands was the first and was a prime example. And, over the years, there have been numerous examples in the quoted market - I believe BCN to be a case in point.
However, I see no evidence which suggests the team here are attempting the same trick. I think they know the production route is a pipe dream, but they are doing their best to achieve something resembling decent value (it will never be close to some of the figures suggested by the more optimistic on here).
What mystifies me are BHP's tactics and I have no idea what game they're playing, but I do not believe they are being aided and abetted by the management.

Q, it's very clear to me...no one is interested.

Q, I don't recall them saying they were going to increase their holding and the comment about not selling was made some while ago and much has changed for NCM in the meantime.

if NCM's poor half-year results and shareholder unrest will have any bearing on what they decide to do with their stake here?
Clearly, they are not in a great place at the moment and have their hands full with other developments, as well as the fact that Biswas is under fire for his poor management style.
Although they may not be immediate sellers, it seems pretty unlikely they will be here for the long term.

Chilligoat, we've only just got our power back, but I'll get onto it now.

CD, I don't disagree and I share your view about the cash pile - it's just that I don't like to see really significant increases in staff costs in any business, particularly one without revenue.
My original comment was not a prediction of armageddon, merely an observation. However, I do feel quite strongly that the true cost of the royalty deal has been overlooked somewhat.

CD, costs are not irrelevant; just ask any management team, or, more pertinently, investors. You'd be surprised by how much attention is given to costs when a professional investor is considering stumping up cash, regardless of what the end goal looks like.

BBG I appreciate you're not the brightest button on the tunic, but you do realise the asset remains firmly in the ground and in the meantime operating costs are extremely important, don't you?

Our staffing costs rose significantly and ticking away in the background is compounding effect of the royalty agreement - $6m in the last quarter. This number will become very significant.

half year results were astonishing. $8.5bn free cash flow in six months.

No problem. I'll place the order with my wine merchant. Where shall I send the invoice?

Yes please. Or perhaps you could run to a case of 1992 Screaming Eagle Cabernet?

Very happy to oblige, Bozi. Could you please book a first class return for me.

Bozi, there are only a couple of ways the statement can be structured; either it defines the company as being an explorer, developer and miner or, it simply states that it's an explorer (to paraphrase). How else can mining companies describe themselves?
I'm sure you're fully aware of how much thought companies give to these statements (to my mind, far too much) and they are worded very carefully. Therefore, I'd suggest this is a pretty significant shift of emphasis and fits in with our agreement with CGP and DC's recent comments.
I know, I know, I'm guilty of confirmation bias.

BBG, as I said, you fail to understand what people say. I said if a data room exists it is not open. DD is not happening. End of.

Without question you are the dumbest poster on this page. Congratulations.

BBG, please ask the company if there's a data room which is open and is currently being inspected by interested parties.
One other thing; your inability to understand what people have been saying is quite something. If you had one scintilla of sense you'd understand exactly where I stand on the issue of monetization. Everyone else knows it, but you appear to be wholly incapable of getting there.

Look, I know you're not altogether there, but I'll give you a little clue. If we'd opened a data room we would have to make an announcement stating that the company was for sale. Please refer to the takeover rules.
I'm really sorry to disappoint you, but there is no dd taking place.
If you 'do this for a living' god help anyone who employs your services.