Member Info for Baiki

Interesting thoughts Sudnal, quite a few possible outcomes that may not be rosy.

Wooden spoon?

Curtains it is folks. So many questions but no real answers. Such is the nature of quite a number of these AIM companies. And sometimes any attempt to engage in constructive criticism or seek alternative views, accusations of wooden spooning or ulterior motives fly. My take is that companies stand or fall on their own merits. ASOS is an AIM company but it is absurd to think discussion on forums such as this would all of a sudden invalidate their business model and cause it to fold. In the same way it is crazy to think that you could salvage a flawed business just by posting positive sentiments that are not backed by any tangible evidence. Point is shouting down alternative points of view or queries does not serve any useful purpose. Unless of course the aim is to 'sucker in' unsuspecting souls. As has been the case before looking through the chats of the previous incarnations of this company the script is a well rehearsed one and will repeat itself many times in the AIM world. But of course there will be some success stories the challenge remains to spot the tell tale signs early and adjust accordingly.

Happy new year, Well well, there you have it. Ordinary shareholders shafted as is usual with these type of companies. Won't be surprised if they try to do it all over again. Fourth time anyone?

My take is that it is highly unlikely that this will get funding. The whole thing sounds like the Nigerian Prince email scams. I highly doubt Fujax had all the funds in the first place. As I said they don't seem to be engaged in any other profitable undertakings. Mowana seems to be their big hope, and given that they have supposedly been giving it loans I suspect the tanks have run dry. Characters involved are more or less the same. Considering that they spent valuable resources both time and equipment processing top soil or oxides until the equipment was worn down, suggests some degree of incompetence. Now that they have fixed or refurbished the mine, they need just one more push (funding) and the riches will be unlocked. Classic con job. My guess is that those who have the kind of funding required will be asking themselves why should I put money in an entity that has failed twice before. Why should the third occasion be any different. The problem is either the quality of the mine itself or the persons involved. If it is the mine then even Santa cannot rectify this. If it is the persons then good luck getting rid of them. The former CEO is still lurking in the shadows somewhere and the current crop will not simply walk away from their "investment". The queue of those who have lent money secured against the mine is full and they do not want additions(hence why they are not willing to share their security with FUJAX) and will certainly not be amused with "queue jumpers". With so many other opportunities why would anyone be interested. Unfortunately the only way would be to again restructure the company to accommodate the new investor(s), completely wiping out the ordinary folk. Again this is only a point of view and welcome alternative realistic scenarios. What plausible steps are left to explore apart from tapping those already in misery.

Merry Christmas.

*e.g. not egg

Hi Mcfirth,
No need to be sorry... You are quite right, I had not done my homework before I 'invested' (more like a gamble). It is good that you acknowledge that I have tried to do it since. I have gone through the available information from the company website, gone through the discussions of previous incarnations of the company, tried to find out more about the entities involved egg. Fujax, ZCI etc, who are the directors how many employees, what projects they have been involved in before. And it does not inspire confidence. It is funny how CRA was citing ZCI as a JSE listed company (which incidentally was in the process of being delisted from the JSE) supposedly to infer some confidence. While ZCI would cite CRA as listed on AIM London listed (currently on suspension) again supposedly to instill confidence. From what I could find on fujax CRA copper seems to be its biggest undertaking. The other activities it lists are quite frankly underwhelming. I could go on however I get the feeling that you would rather I didn't. Again I have no agenda, I just thought I would share my thoughts based on what I have seen so far. I am always open to different opinions. And I fully appreciate that someone else could scratch around the Internet and come to a different conclusion. For the record I would like to see this succeed, however blind optimism doesn't seem like a solution. Anyone who comes to the rescue of CRA with the necessary funds will want something for their troubles /investment. Most likely diluting current shareholders further. This has happened before, and will most likely happen again. I welcome your perspective and admit mine is somewhat negative, however it is just an opinion and shouldn't get anyone to hot under the collar.

I think you mean just ignore any different opinions. There is only one true opinion, and you are the custodian. Good luck.

An old story from 2015, but little has changed.

https://www.google.com/amp/s/amp.ft.com/content/5c1c3ba6-1513-11e5-9509-00144feabdc0

As usual some will be livid, while others will engage in a thought process, reflect and seek to assess which category this share resembles ASOS or any of the other examples cited in the article.

http://www.mining.com/web/botswanas-mowana-copper-mine-suspends-operations-working-capital/

Igeek, noted. However your post doesn't have much that can be responded to apart from you have made me aware of your feelings, you are counting posts, and I don't fault you. No agenda.

Chances are that even if CRA is reinstated, it will be without the mowana copper mine which was put up as security. This will leave the other bits such as the gold prospects etc. This however will mean more funds required,since the plan was always to use mowana to fund the other bits. Bottom line is that any investment current ordinary shareholders have put here is unlikely to ever be recovered. Best case scenario is put in even more money for whatever it is that will be proposed then. You bet they will be back asking for more money maybe different faces but same script. And as usual wait to be wiped out again. Meanwhile the mine if it is as described on the verge of production, will be chugging away under 'new' owners. It is a shame really, because if Kevin pulled it off he would be a star and would not struggle to raise funds for the other parts of the company if he got this right. Judging from the cast of Delboy like characters who have had a go at this, it is unlikely that the outcome will be any different from the past.

My guess is that £400,000 was all the money they had and that they they used this to pay salaries and other minor miscellaneous expenses. I doubt the reline has been undertaken. As to the other repairs, who knows. How does a vote of confidence turn into a hostage situation unless of course the said partner always intend to snatch the company. If surely fujax was to receive all the production for them to sell on as per the off-stage agreement why would they be jittery unless there was something fundamentally wrong with the entire operation. When were the operations suspended and what was the production figures up to that point? The whole thing looks odd. Then again it is all speculation, no insights and I doubt clarity will be forthcoming any time soon judging from the last sentence of the RNS.

*ends*

He also owns a company that lent money secured against the assets. He will be ok. they will share out the assets or re-engineer the structure of the company giving them even more control while attempting to lure more investors to put up even more money, under the pretext of we are almost there, we have rehabilitated the machines, we have stripped the oxides, we are now at supergene/sulphides layer, the DMS will double production and serve you breakfast in bed. In all honesty I do not see how they come back from this. He may well put up a fight, however it will not be for the shareholders but for the creditors. Don't forget he did not actually purchase the shares so it's a paper investment. Don't get me wrong I am not accusing anyone of any deliberate wrong doing, but they are well insulated as opposed to the ordinary shareholders.

Finally! A casual Google search would have revealed that all companies or entities involved here are briefcase companies. ZCI, Pennmin, leboam, fujax et al. I highly doubt that they have the cash to pull this off. But they will be left with the secured "assets". While ordinary shareholders left with nothing. Some posters on here are temporarily "out of a job" of posting supposedly reassuring/positive aspects of the company after each and every post that seemed to query anything about the company that they viewed as 'negative'. Not entirely unexpected.

Sincerely hope they have sorted production issues, (reline and all...). These stories don't inspire confidence.
http://www.mmegi.bw/index.php?aid=78549&dir=2018/november/23

I spent part of the weekend reading posts from ACU and ALO chats, and I must say I have not laughed like that in a long time. Don't get me wrong I feel for them, it's just that I can see myself through their discussions. They too were an optimistic bunch back then. The temptations of an ever falling share price was irresistible. I put a small amount in here recently. I do not have the financial muscle of some on here but I guess the thrill of it is the same. Makes me think that some stocks should be regulated as fixed odds betting machines. Fingers crossed, hope Kevin can pull it off.

"It’s a joke That the equipment is worth $100+m yet the mcap is £2m. I understand the problems that have arisen but there’s company’s with no holes in the ground work £80m plus."

Technically worth $100m at the shop or showroom. However given that there is debt attached to it or that all the said assets have been pledged as security for the financing arrangements in reality worth much less. The hole in the ground has not so far been able to pay back the money put in. If it were to be liquidated no one will give you $100m as we have seen before. Any market, be it a stock market or a vegetable market relies on one party willing to part with their money or asset for whatever it is you are peddling. If the said party thinks, rightly or wrongly, that your bananas or apples are a bit iffy then they are less likely to trade with you. This share/company seems to be in a similar predicament. In my view, it requires an extremely flawless production ramp up from now on to have any hope of seeing higher valuations.

I guess d_l_r has a point. This could be heading to zero. The share price is too low for the company to raise any meaningful money. For example how many shares would be needed just to raise a quarter of the initial £12m needed to get the DMS unit going? How many warrants for those who lend the company money for the balance to get things moving. All the borrowing so far is just to keep things ticking over. For any profitability improving expenditure such as the DMS expect further hit to the share price, from my point of view. However I am open to learning other avenues that are open to the company that do not involve pie in the sky scenarios.