Member Info for Andrew4444

Pie Good luck with that project.

Ammu Him and 10 others. Unhappy Hexagon sold out nearly 2 years ago (yes nearly 2 years ago) and yet he still turns-up every time there is bad news or a fall in sp. For some the financial loss is nothing compared to the psychological and emotional damage it does to them. Best avoid AIM if that's the way they are made. If I lose money here then the only person I'm blaming is.... ME !

H5O CB said in a pod cast 3 weeks before Q1 ended that the rains have affected Moz a bit but not Sino. After the results, just 3 weeks later he blames the rains affecting all of the production. Again, inconsistent comments and questioning if you can believe everything he says. I've also added recently. I believe in this project but dont believe everything CB says.

Ghost The cynical view could be that he was, by his own admission, being confronted by a number of unhappy holders in the private meeting and threw them some red meat to appease them. As you have said lets see how fantastic / brilliant this RNS is. In addition, his 2-6 weeks time scale expires in 2 weeks. Lets see if he keeps to it or is yet another example of a missed deadline. We'll see.

Nightingale You're conflating two issues. The inaccurate, misleading comments CB makes along with missed targets / deadlines and lack of trust, with the real progress he has made over the last 9 months leading to the co being debt free, cash positive, and about to be (if not already) profit making with a real chance of significantly more income soon. Add that to a bombed out silly MC then its easy to see why many are positive and are adding.

Arn't Nexus based in Hong Kong? Sino are a Chinese company CB implied he wanted to renegotiate the 60% cut to Nexus. Could there be some three way partnership and new agreement? This is probably all completely wrong? Possibly...

Daz I'll be honest with you, I've never watched bin men working in the rain then compared that to when they are working in the sun. I'm gonna start doing that now though :)

Nightingale My point was that It's highly likely that alluvial income will cover all costs (by next update latest). It may or may not be at todays date. Who knows. I know you have a different view, but IMHO I think this is a better investment now than 6 months ago when the sp was higher and less progress had been made. For me, the risk reward at this sp and after the progress that has been made, is as good as its ever been. AIMHO

or ... 200 tph 10 hours a day 25 days a month 50,000 tonnes at 0.5g 25KG Seems reasonable

begger For me, your cash burn comment is the most important. It looks highly likely that alluvial income will cover ALL co costs, probably make a small profit. Many AIM co have cash burn serviced by CIB, when that runs out is placings. There is no reason to believe we wont, at least, cover all costs with just alluvial income. 17 - 20% of FB under JV will be net profit. Whatever that profit is, should see the sp rise substantially. That's why I'm happy to buy more now. If this drops next week, I'll just but more - again ! AIMHO

Ghost No evidence but my thinking is if we were at 400tph, I'm sure CB would have updated us. It's not as if we are having plethora of good news ! I would be very surprise if he kept this good news to himself. In addition he said in the 1 August webcam update that he would take us through each stage of higher capacity. He hasnt mentioned anything about moving up to 400tph. I would be amazed if we were at 400tph (sino) and when we are, I expect CB to make great play of this - rightly so.

Capital Sino are not at 400tph. They should have been by Jan but they are not yet. Still 200tph. Omnia are working another area and as the geology is very different just a short distance away, there is no reason to think we will be getting 1g where we are working.

In short, this is down to CBs inability to manage expectations. Excellent progress has been made, but due to CBs overly positive pod casts and presentation comments he gave the impression that things would be better. The Q4 RNS was a perfect example of that with his very misleading figures implying that income was $300k+ for that quarter. If he had down played this many could be very happy with the progress that had been made. If you are told you are going to get �1000 bonus and its only �100, you dont think you are �100 better off, but �900 worse off! I'm past the point of no return on this now so I am just closing my eyes and buying more.

I could compile a long list of CBs missed targets, deadlines and poor comms but he has made substantial progress -in a 3 steps forward and 2 back fashion. I believe this offers great value and have been adding. I will only start to worry if we cannot cover costs with alluvial income.I suspect we will be making a small profit soon, but nothing like CB implied in July. With alluvial work being at worst, cost neutral, and probably profit making, the 20% FB hard rock JV / royalty agreement should be a free hit. Should still 3 or 4 bag from here, maybe more.. I think some are conflating CBs very poor comms / missed deadlines with the very real progress that he has made. AIMHO

LS Agreed. Especially the part where you said 'No doubt he's been economical with the truth'. In a recent pod cast, 3 weeks before the end of Q1, he said the rains have not effected sino (or implied hardly at all). That was no doubt him being, as you say, economically with the truth. I'll add that to a number of other similar comments he has made over the last 6 months. Remember, he is now going to over deliver and under promise and he will give us a warts and all update! he really doesnt help himself and I'm not surprised the market has reacted in the way it has. That said, gave me an opportunity to add at discount prices. I just wish 1.8p was my average :)

Joe Don't think he said that in the main presentation. I understand that it was from from respected posters who had spoken to him in pre meeting. I believe them, not too sure I am as confident with what CB says all the time. We'll see.

Thomas Yes but its no good going on about it .just wait next news

Nightingale The first line of your post is the classic straw man argument.

Hex I'm sorry you lost money here, I really am, but it's best for your health and sanity to just let it go.... and move on.

Thomas Yes but its no good going on about it .just wait next news