Member Info for addicknt

Fort, according to the most recent presentation Tenstar still hold 4% and are controlled by NM. Bear in mind they recently bailed out DGR which from memory cost them $15m.

Fort, apparently Newmont are interested in becoming one of the cornerstone investors. Mather? Not sure about that. He's failed to participate in the most recent placings and has his hands full with DGR. I think the team may see this as an opportunity to introduce new investors to the party.

Damers, I fear that may be wishful thinking!

I'm making the assumption that ExCo will, at this stage, simply be a subsidiary company with an IPO down the track. Is that how you read it?

Unless I've missed it, I haven't seen any reference to the levy, although I guess its exclusion is the result of the company not wishing to upset the government.

Project execution plan.

No, Stas, it isn't pointless. I think it would be well worth your while meeting them because I'm sure you'd have a far better understanding of what they're trying to achieve. And it doesn't involve screwing small shareholders.

I suggest you attend the proposed Town Hall meeting and make your points to either DV or PS, particularly the one about a low sp suiting their plans. I'm afraid you may not like the response.

'just logic' - it may be your logic, but in the absence of proof I'll settle for it being normal trading. As for the behaviour of retail investors, people have many reasons for buying and selling, even though their decisions may look odd to an outsider.

It was before your time, but the issue of price manipulation was addressed by either DC or SC - I forget which - and no clear proof was found. Your premise appears to be that the company isn't worried about this supposed manipulation because it suits their purposes. Forgive me, but I consider that to be total twaddle.

Stas, just out of interest, how do you know it was taken out by the short?

As for your last point about the company wanting a low-ball takeover so the 7p options don't look bad!!! Jeez!

RT, you called it a H1 report, which most people would interpret as being a financial report. The information we were looking for was the update relating to the 're-set', which quite obviously has been delayed by events i.e the levy, which you seem to be happy to ignore. The same goes for the announcement relating to ExCo.

It strikes me that you're very eager to find any stick with which to beat the management, regardless of whether there are legitimate reasons for the delay.

There are plenty of things I'm not happy with - the options, details of remuneration etc, but I see no reason to chastise them when external circumstances have quite clearly conspired to delay matters.

RT, you refer to the H1 report. This was released in February. The Q3 report has been issued, and the next figures will be contained in the June year end numbers, which aren't due for some time.

RT, I've already answered your question, in fact you've just proved my point.

One thing I have noticed is those who believe management are either hopeless or involved in some kind of conspiracy, rarely mention the levy and the impact it's having on all of the miners involved in the country. It's almost as if it's no more than a minor inconvenience, unworthy of a mention.

Indeed, Pbow. Management know what the issues are and are evolving a plan to address them. (your list omitted land acquisition)

How often do you see announcements which only refer to a low sp? I can't recall a recent example. Sure, if a company receives a hostile takeover, valuation will be one of the key defences, and it may also be contained in a broader announcements relating to trading etc. But as a single issue? Rarely, if ever, because it makes the management look weak, clueless and smacks of desperate bleating.

For a laugh I asked ChatGPT if Early was dead. It replied there's no credible evidence to suggest he is and the fact he's still named on the documents relating to the current court action reinforces the view that he's alive.

Of course, this is AI, so one must take the answers with a healthy pinch of salt.

Stas, the explanations offered by your AI tool are nonsense.

The actual reasons are; ongoing political uncertainty...the levy, appalling past management; a complete lack of belief that we can take this to production; a failed M&A process, lurching from one cash crisis to another (FN have to a degree, ameliorated that issue) and a failure to pursue and deliver a clear strategy.

The new team recognise these problems are intent on altering the market's impression of our company.

Btw, the last comment on your list, narrative control online, made me laugh. The idea that any of the bulls or bears on here could control anything is hilarious.

It's interesting that every time someone posts something generated by AI, the only thing it reveals is just how weak a tool it is.

Eloro, there really isn't much more I can say about this. I believe the new team are unlike anything we've had before and you are yet to be convinced, which is completely understandable, but there is one point: The various conspiracy theories such as DVand PS being Sagha appointments and in his pocket is very far from being the truth.

There seems to a divide between those who've communicated directly with either DV or PS and those who haven't.

The former seem to be more relaxed and gained a degree of confidence in the team, whereas those who haven't are, understandably, more cynical. However, actions speak louder than words and a solid RNS is needed to convince the cynics.

Incidentally, I'm not saying this form of selective communication is the best way to do things -it isn't- but in the absence of official news, it's all we have.

In the meantime we need to cut them some slack. They are dealing with a very complex situation and whether they're 10 or so days behind their original schedule is neither here or there. It will happen when they're ready and we can only hope it's positive news when it arrives.

With respect, that sounds like a pretty naive view.

How is DV responsible for the insane behaviour of the government? He isn't. But perhaps you believe the levy is insignificant?

As for why he hasn't released the new plan, the answer is that they want to simultaneously announce details of ExCo and the re-set.

DBW has told us news is on its way shortly, let's hope he's right.

RT, the update delay has been caused by the levy.

Jiangxi's offer to buy the shares had been on the table for some time before DV became ceo. The board failed to take up the offer at a higher market price. PS insisted on the sale as a condition of his employment, for the simple reason the company was about to run out of cash. Do you honestly believe any other buyer would have paid a 45% premium, because I don't.

If you're looking to apportion blame you're looking in the wrong place. The blame for our predicament lies firmly with the previous management team.