Member Info for Bampster

I am glad people have vouched for Ivy regarding his holdings.It is also good to see Addicknt back on board.I am holding 25,000 shares and am still about 50% down with average of around 90p.I still think the likes of M&G know what they are doing and even if management have several shortcomings it appears we may be close to a funding result.
Mining is the riskiest end of AIM and if major iis are on board and sticking that gives me confidence.It is in all our interests that we now get to production asap.

Maybe we are turning a corner despite inept management.We have a huge resource and need to get it out of the ground.Forget petty court cases and focus on funding so we can be getting to production asap.

Yes Barksy but why did we buy BCN at way over market price then sell at way under.Now BCN sp has crashed should we not be buying back our larger stake instead of considering smaller unproven early-stage miners(and then pulling out).Whilst the fundamentals of this one investment may be good how would you analyse,support and explain the action of the people running Cadence and do you feel shareholders are getting good value for what they are being paid?

Addicknt
That is a very shrewd and likely assessment.I don't think PS has the clout or track record.The Canada Lithium story/history seems relevant(worth a google).Failure to raise required cash,then cheap sale seems a distinct possibilty.The Institutional investors will not want to come out of this with a loss.I am surprised at their involvement in the first place but now with a customer for 100% of production and everything proved-up and ready to go it seems criminal to fail for the lack of a bit more capital.
It is like proving you have a vault full of gold but need to pay for a very expensive key to open the door.If the key costs x but the gold is worth 10x surely you would pay for the key?

Well as I see it there are none unless you are on the payroll.
It is all very well people saying how valuable some of the underlying assets are but with large and expensive loans outstanding plus the high,ongoing remuneration packages most investors are now looking at losing all their money here.Traders are probably loving it as the volatility gives plenty of opportunities to make a fast (trading) buck.
I would just ask those who are not paid/encouraged to post upbeat messages here to look at some thoughts.
1.Remuneration for failure seems the main message here.Until recently a part-time director had a package worth more than we pay Mrs May for running the country.It is beyond a joke.
2.It seemed to take constant messages on this board to finally encourage directors to buy their own shares albeit at a very modest level.Those running this company could send a huge message by investing serious amounts of their own capital or taking huge pay cuts until they can turn things around but this will not happen.
3.Buying BCN at a huge premium then panic selling at a loss to repay ill-advised/speculative borrowing seems to sum up the lack of any business acumen,the fag packet 'takeover' attempt just defied belief.
4.An administrator should be consulted to establish what value could be saved from this business before it is too late.
5.A large percentage of AIM companies fail sooner or later but the people that ran them seem to just move on,often after extracting large financial rewards for failure.The big losers always seem to be the shareholders.
Now I expect that most holders here are,like me,holding on in blind hope that something will turn up.Others for their own reasons tend to ignore criticism.Some genuinely believe that things can turn round even with the same personnel steering the ship.
6.Does anyone know of any instance where any of the current board contributed to any listed company that prospered during their tenure and does so today.Failing that if any of them read this board could they reassure us with the relevant facts and figures?
It would be interesting to know if some of you buying now would ever consider taking collective action to remove the current B.O.D or at least certain incumbents as I believe without a change this company will become worthless very soon.

I have always felt that the amount to build the plant seemed huge.We have a pilot plant churning out samples already.We are also talking Mexico not central London.The big fear now is that the IIs will get fed up.This is all taking too long and there seems to be an air of complacency.

so we are not getting involved in a risky early -stage mining venture but,hey, I thought that was the sort of thing we were avoiding anyway so there was a chance of getting a quicker return on our investment.Maybe we should be investing in a proven lithium resource that has institutional investors and is much further down the line and planning construction of the mine etc now.Hang on, were we not buying into that company way over the market price when it was a riskier prospect only to sell our shares to pay some bills at an almost instant loss.
Even if the reason for KDNC was solely to provide a high standard of living for its directors then the strategy,such as it is, is not working.As far as shareholders are concerned, well unless the assets can be sold and money used to close the company down in an orderly fashion we will be yet another failed AIM company.
In the real world I expect we will see another capital raising soon with the usual hype of jam tomorrow.
Unless we saw wholesale Board changes here I would expect nothing short of disaster,sooner rather than later.Perhaps Statler and Waldorf could bring some intelligent debate to our boardroom?

Not sure how you sound relaxed in an email but let's hope the further response gives some reassurances.It seems that it may be in the best interest of shareholders that someone falls on their sword.God knows how events have affected the attitude of the IIs,Black Rock et al.

well lets hope that the company are still around so they can make a killing.Always seems that these things are done when sp is on the floor.Still if you can't look after shareholders at least help your fellow officers!!

Perhaps Mr Carter could develop BCN leadership to competent standards as well.I remember a french 'Eric' who was life changing back in the nineties.

EV you make a lot of sense.I think Canada Lithium hit problems with funding so perhaps we have the wrong people in place.I would have thought that heavyweights like BlackRock know this has huge potential but clearly several major mistakes have occurred.You mention your clients,can you clarify a little.I am an IFA and know how hard institutions would look at a mining prospect like this before getting involved.
It really is hard to see how this could fail but you start to wonder!!

Sorry I meant do not TOUCH with the world's longest bargepole.Must have been getting a bit emotional.

It may still take a year or two but this company will eventually falter when shareholders are no longer daft enough to keep funding lifestyles for other people.We have a company that has small stakes in one of the riskiest areas of the market ie speculative mining.The vast majority of small miners fail so picking winners is going to be very hard.Now running a company like this using other peoples cash could be a meal ticket for quite a few years,mainly because there are plenty of punters who dream of hitting the big time.I guess you just keep spinning stories of huge potential and raising cash by constantly issuing more shares.
Investing in a company that keeps doing this and keeps needing to raise more cash to put into yet more speculative small miners with no success story in many years is now proving to be just a reckless gamble.
I am about 90% down so rather than rescue/withdraw a few grand I feel I must sit this out to the bitter end.
My only advice to any would-be new investors here is do not be tempted to toch this with the world's longest bargepole.Even when this falls another 90% forget about a bargain.
The best thing would be if someone could just sell all current assets and close this down fast.At least it would stop further financial rewards to the people that have been overseeing this shambles.When you have a company like this where a part-time director was drawing more than we pay our Prime Minister you realise one of the many reasons why this company has no future.
Sorry if I seem a bit negative.I realise that there are a number of contributors to this board who have much larger holdings who really dont want to hear this but I can see no way back.

Sorry Simon.I was referring to a previous Canadian lithium explorer where I believe Mr Secker was the main man and funding was a problem.

I doubt it unless there is an RNS beforehand.We seem to have all the assets but management needs to up its game.In the end perhaps it is us shareholders who may have to fund the business.A track record involving failure to raise capital for a lithium project is always a worry.

Well hope choosing the 13th for a conference call is a good luck omen.As a last resort perhaps raising all the funds from existing shareholders may be the key.At least we believe in what is in the ground.Still gutted that it keeps getting pushed back and there seems no urgency.Perhaps the energy and costs going into fighting a dead man's estate could have been avoided?

I seem to remember reading articles about Canada Lithium defending a law suit over incorrect resource estimates when the main man there was Peter Secker,not sure of the outcome but later I think they merged with another company who eventually struggled to get funding for the mine.Any idea what the outcomes were as this last week has not been a great one for the sp.This main sound daft but why not ask existing shareholders to end the funding doubt by taking up an issue of new shares sufficient to fund the gap.I would rather find further cash to guarantee the project than see it founder,assuming we have what we say we have.

I just wonder if the dispute about royalties is putting off would -be funders.If an agreement over royalties was made under different management it may be difficult to just revoke it.Anyway we have a resource that seems to be proven and in growing demand,if we can't get funding I guess we can still sell the rights on and concentrate on Zinwald albeit with a longer timescale.May need to put off retirement plans for another 3 or more years!

Yes addicknt we must hope that the big institutional investors will take some more shares and that would be a positive sign.I still feel that sitting on all this valuable stuff we really need to get on with mining and selling it.

no news on a replacement investor for the chinese company and nothing further on overall funding.The last video interview seemed a little low key and perhaps my body language reading skills were mistaken having recently read about the historical funding problem failures at Canada Lithium.Time seems to be rolling on and we aprear to have a huge amount of the stuff waiting to be mined.Lets hope we can sort the funding,build the processing facility and have the money to finance the production. If all 3 work out we should see a big increase in the sp within a couple of years.Short-term it would be great to see us get above �1 and stay there.Perhaps Rare Earth Minerals/Cadence might buy a few share well above market price!!