Member Info for Anglebox788

Acker- your accusation of betrayal is completely out of order, GR and his board of directors are fully responsible for the mess we’re in not the shareholders, once we grant any additional shares we have no control over how they are used, we who are 85-90% down have no more funds to give. GR may have gone but the bulk of the board remain the same GH hasn’t got complete autonomy especially now Canmax have full control over capital expenditure.

Kaltersee- what a sad summary, so many investors hopes and expectations lost to the self serving deceitful ramblings of a corrupt CEO, criminal in all other walks of life but not in corporate governance apparently.

So where is the finance coming from?

Acker- so you’re thinking Canmax are going to make more cash available to fund phase 5 presumably for a greater share of Prem by way of additional shares. At what discount are you expecting these shares to be bought at 0.6-0.8? Or are you thinking an additional prepurchase agreement for an additional say £6million?

Jaglith, as you know, daily trading is low because retail investors are waiting to buy back in after the placing, whether they want 5billion shares worth is another matter🤔

Apologies for duplication🤦🏻‍♂️

Acker- you talk about shareholders need to support the company but what reciprocal support has there been for us with GR constantly feeding us lies and false promises whilst diluting us to oblivion for no end product? No, it’s now down to the board of directors to get the company out of this hole, earn those salaries.

Going forwards, I think the company will thrive under GH stewardship and there’s a case to be made for new entry shareholders to do well, but any long term holders who are carrying 90% paper losses are very unlikely to see much of that back. If we manage to hook a high quality well healed JV partner that would see another 100% dilution and discounted off take so even that route isn’t that lucrative for the shareholders.

I’m hoping Graham has got one or two good industry contacts he can call on to give us a bit of a steer and a lift🤞🏻

Acker- you talk about shareholders need to support the company but what reciprocal support has there been for us with GR constantly feeding us lies and false promises whilst diluting us to oblivion for no end product? No, it’s now down to the board of directors to get the company out of this hole, earn those salaries.

Going forwards, I think the company will thrive under GH stewardship and there’s a case to be made for new entry shareholders to do well, but any long term holders who are carrying 90% paper losses are very unlikely to see much of that back. If we manage to hook a high quality well healed JV partner that would see another 100% dilution and discounted off take so even that route isn’t that lucrative for the shareholders.

I’m hoping Graham has got one or two good industry contacts he can call on to give us a bit of a steer and a lift🤞🏻

Acker - if it was at my behest, I would be releasing an RNS saying all directors have agreed to draw no further salaries from the company until the plant is producing name plate, with no catch up period. They have idly stood by allowing this debacle to play out whilst happily drawing fat cat salaries. There would be no redress for the losses they would be incurring. I would similarly announce that GR would receive no further payments from Prem by way of loan repayment, until nameplate production and he would ultimately receive the number of shares at the SP as it was when he offered the ‘interest free’ loan therefore taking the hit the long term holders have taken.

That should boost morale among shareholders holders and the SP quite a bit.

Acker- are you suggesting that a small number of retail buys by individual investors is going to pump the SP to 0.17/0.18 with 7.5billion shares currently in issue? What if people do as you say and the SP stays much the same, they’ll immediately have lost 7-15% with the spread alone even before the placing shares are announced and then good luck to them trying to sell on the bell at 8am when the share price plummets 20-30%? That’s philanthropy on a grand scale with very few of us LTHs feeling sufficiently well healed anymore to partake.

Acker- Consensus on here is that GH is giving more detail and that he is more believable and open than GR, so what is the good news he could have kept up his sleeve that would be so positive for the SP?

Morning Acker, what price placing are you expecting? I’m thinking 0.05 to 0.08p, £2.5 to £4.0 million. Valuing the company £6.25- £10 million.

What are we thinking the placing price will be and will he place the full 5billion in one hit?

0.08p or lower? Although I expect the SP was over sold I think it won’t recover much in the weeks up to the EGM.

George played with a bucket and spade as a kid and became a prospector, Graham played with Mechano and became an engineer, his boyhood experience may come in useful with this plant maybe he’s got some spares under his bed or in the loft👍🏻

I liked GH’s engineering approach as opposed to GR’s “that looks about right “ Del Boy approach. What a pity GH wasn’t in charge from the outset.

Sadly we still need a a big trache of cash 5billion headroom and an SP that will continue to fall towards a massively discounted placing whenever that may be, probably followed by another EGM call for a further 10billion. We LTHs are getting diluted to oblivion sadly.

5 billion shares at 0.05p is £2.5 million, what use is that?

Super-mouse- how much headroom does the board currently have to do that after the 10:1 consolidation?

As many are saying here IF there’s to be a dilutive placing an EGM will need to be called stating how much headroom is required, and it will be up to shareholders, including Canmax, to vote yay or nay.

Is there any scenario where in the next RNS GH announces positive results from the recent/current test run and additional outside financial support this giving the SP a huge boost rather than announcing a dilutive EGM?

Acker- are you expecting us all to bow to your superior knowledge by saying ‘I told you so’. Does it give you some personal self worth?

I used to value your input but now find myself reading your posts with the same caution as with Jaglith, Ballymena, Martinigirl and Snowking, you all have your agendas, yours Acker, however, seems to ebb and flow like the tides. At least the others are consistent.

Morning Martini- hopefully your predictions of a 30% drop will be wrong again, you predicted a 50% drop on the consolidation RNS and were wrong by quite a margin, so I’m hoping you’ll be similarly out this time. My only experience of consolidation was 7:1 at VAST and a noticeable proportion of my shares seemed to disappear as part of the 7:1 exchange overnight so I’m cautious of this happening again. Clearly if we also get an EGM call for 7.4 billion shares then this will get messy, but the fact that there wasn’t a huge drop yesterday is hopeful , on the up side Graham may produce the rabbit we optimists have been wishing for