Member Info for bandit1

What we don't know is that is Secker and his team may have been fully aware of the risks here and the fact that the Chinese may not have been able to guarantee access to funding given the nature of their fund. So, they may have structured the terms of default in such a way as to make it extremely penal on default. All supposition but key for me is to draw a line under this now and avoid cowboy funds going forward. Assets will only improve as feasibility studies completed in Germany and new investors will plug the gap. Time to focus on future not the past.......

Oh yes I suspect that there is certainly a point in doing so. Have you had the benefit of reading the terms of the BINDING placing document? Do you think that there would be any deals anywhere in the world if companies could just sign whatever they want then walk away having agreed terms? Do you think that Boards would announce agreements and make themselves look silly when funding sources simply walk away if they can't secure better deals? Yes it does happen but without seeing the document wording difficult to know jurisdiction and terms of sanction on breach, to judge exactly how to move forward.

Hopefully Secker will have learned a lesson on this one. Make sure you know who you are dealing with in future! Trust is pretty important in business and I know that Nextview will have damaged whatever reputation they had on this. I hope we do pursue them but not at the expense of management focus. Give a big law firm the incentive of a chunky success fee as they deserve to be sued. Pleased that there is demand out there sufficient to mop up shares so no real setback for long term investors.

A CEO worth his/her salt would not entertain a deal if this was clearly the intention. I think you have been reading too many fiction novels!!

Fukuoka - Over the years with AIM stocks I have adopted a different strategy to the buy and hold approach I adopt with mature stocks. As you know, most AIM stocks are very much news driven with spikes and dips quite pronounced so I tend to do research before I enter then TRY and avoid spikes but buy on what looks like dips in between news. I often sell on the spikes even when I like the company as there will often be an opportunity to get back in with more shares for the same investment. Of course it doesn't always work out but it has served me well and gives a better return than staying invested if you are able to keep close tabs on daily movements.

We are getting close to this and it is still difficult for me to see what will help momentum change here other than a renewal of banking facilities at terms which are not too penal and forward-looking comments from the Board in the annual results that can give investors confidence that IRV there are no more banana skins and that this company has bottomed. I have been in and out for 6 months and currently out but do believe that this is potentially a value play provided they can weather this storm. I will remain on the sidelines but continuing to keep a close eye on IRV. Best of luck all.

Skippy - I sold out a large holding a couple of months back because I was concerned about debt levels, breach of covenants and the missing parcel which has an adverse impact on covenants. I dipped my toe back in recently as I think there is a lot of potential here but I will not invest significantly until we receive clarity. Why do you think we are close to a 5-year low? Markets react badly to uncertainty and lack of clarity. We have that in spades here regardless as to whether the missing parcel is considered material in a financial context. I believe it is material given the context involved. As to the CFO being confident, in my direct contact with Petra they have told me that they have had no explanation from the government so in my language it is hope rather than confidence which makes it tricky for the CFO does it not? As a shareholder I have no desire to see the price drop but as a shareholder I also want answers but there are none! Bottom line is that the market knows this is a poor show hence the price but I can sit tight for as long as it takes to resolve this one way or another so we can get the price moving north again!!

Managed to get 90.98p and 91.98p in the end after much finger pressing so that's enough for me until we get some news here.

Well it looks like that to me. Given the sales this afternoon I would have expected to be able to buy above NMS quite easily but been trying for 10 mins and only managed once. I refuse to break trades down too much and will just keep trying until close.

Well, up to 150p by 8th January after the positive financial press reports about Lithium demand and back down again to the placing price announced in December! The fact that this transaction has not closed has created uncertainty which has allowed market makers to do there thing. This is a good entry point for those who missed the last rise so in my view it won't be long before we move up again but clarity on the cornerstone investor position is required before it does. So much to be positive about here with our vast exploration opportunities in Germany to add to Mexico and it is the same old story but patience will reward people who stick with this, however frustrating it is watching the red screen in the intervening period.

This should have a positive effect here as it Is written to imply that the appeal has been prepared following discussions with the relevant authorities and therefore in my view implies that they were given a steer on what assurances they must provide in terms of intention and with JLP's financial backing.

Given the situation we find ourselves in with BMR I highly doubt whether they would even contemplate selling any of shares at the moment even though legally they could sell a portion. Yes, they have a cash call coming up and we know they have limited cash resources but can you imagine how that would go down with JLP? Whether CB and LC were indeed aware that BMR's licence at Kabwe was likely to be revoked at any time when they were in discussions about the JV will come out in the fullness of time but I am not convinced that there was a great plan all along and everyone knew what they were doing. Far too much at stake to risk playing these games in my view. Much more likely that it was unexpected and CB and LC are furious partly because they were not made aware of the correspondence but also that they may not have done their DD as they should have! In that context and with BMR shares suspended and protected from further falls, to sell JLP shares and put more pressure on their price would be unforgivable in my view.

You are a pretty dim individual which is apparent from your postings. I have spent some time trying to educate you but clearly your lack of intelligence overrides all else. My advice to you is to open a post office savings account with your �500 as you clearly have no idea about investing whatsoever. Another idiot filtered.

I accept the difficulties of operating in Africa which is unpredictable to say the least and the situation we find ourselves in here is a great example although I do have many more examples from years of investing in Africa. With risk however comes opportunity too which is why I am invested here and the risk currently is that the governments' position on this parcel does not change in H1. What will change which makes the government take a different stance? My point is a financial point being that JD and the Finance Director are unable to assume, indefinitely, that the revenues associated with the parcel should be imbedded within their financials. Up to this point they have convinced their lenders that the revenue will eventually be included but I fully expect there to be a deadline in the eyes of the lenders and the Board otherwise they will fall foul of the auditors. I want the drag which this anchor is causing to be freed up as much as the next shareholder but I am not satisfied with the level of obfuscation here and nor is the market which is why the price is where it is. To suggest otherwise would be disingenuous.

Mad - Rule 9 of the Takeover Code requires someone who buys through 30% of the voting rights of a quoted company to make a mandatory offer to all shareholders. When there are convertible securities it is a little more complicated and I am a little rusty on this but provided that independent directors approve those convertibles at general meeting it is possible to obtain a waiver or dispensation. As I say, not absolutely 100% on this but NOMAD I would hope would have been in talks with Takeover Panel on this in advance.

The parcel was seized 6 months ago with no explanation given and no prosecutions. We are talking here about the Tanzanian government which, I assume you know, owns 25% of the mine for gods sake. So, PDL's partners have seized a parcel, which they own a quarter of, 6 months ago claiming that tax is being avoided and have accused 2 Tanzanian government employees of undervaluing the parcel!!. Why would they do this and what would they stand to gain? I have my views but am interested in your views on this. So, when there are no explanations or answers to any questions the company are treading on very thin ice by continuing to assume within their forecasts that this revenue will appear when it could be argued by auditors that there is no justification for it. So, if they were getting the parcel back, why have their bedfellows decided to hold it for 6 months creating ongoing problems for their own partners at Williamson? I assume you have no answers of your own. So, in circumstances like this, auditors and Boards of Plc's cannot continue to assume indefinitely that this revenue will appear with no justification. If others on here have a reasoned and intelligent view as to why auditors will allow this revenue to be accrued indefinitely I would be glad to hear your views.

My dog - not too sure from your lack of posting history if that is a serious comment or that you are a new investor. To give you the benefit of the doubt, shorting shares is a bona fide activity which aids price discovery although many PI's don't like it. Ask yourself the question is this company fairly valued? If you think it if undervalued you may buy the shares if you think it is overvalued you may want to sell the shares ( shorting). Also, some people may use shorting to hedge long positions elsewhere. Now, if companies write false and/or malicious reports with the objective of encouraging shareholders to sell, that can be subject of legal challenge. Worth reading up on the subject. I owns shares in IQE and think the share price is undervalued but as always, the forces of supply and demand will determine whether is goes up or dowm based ultimately on both sentiment and fundamentals.

Fully agree gamcoles. No new news on financials today but the rise was welcomed for the reason you mentioned however I remain irritated that the company continue to assume that the parcel will be released with no justification or explanation and therefore in my view there remains downside risk if the Tanzanian govt continue to say no! How long will it take before we write this off? I would prefer if we were to take the P&L hit now and if resolved to our benefit in the future there would be upside rather than downside as it is acting like an anchor as the market does not like uncertainty. I am holding off adding any more until the parcel issue is properly resolved but when it is, this has the chance to recover with financing arrangements and should race towards �1 and above again.

Thanks for posting Rivaldo. Hope they have a quality internal candidate who can take over as CEO but if not, Mark will no doubt ensure they hire the right person as he and his family have a lot of value tied up here.

Thanks Peakview I will have a look at IOG. I was up in the Cromarty Firth today in fact and looking at the rigs sitting in the firth ready to be towed out into the North Sea made me think a little more about the licences up there and potential. I have a small stake in Parkmead which has recently increased positions in some licences up there so will see what potential there is on home turf.