RE: RE.RNS15 Nov 2020 09:36
Eyeguy..... what you say is correct & not disputed but so is what Lllon incurs, nobody (certainly not me) questions the potential asset value of the JV's we currently hold or of Amapa if/when it comes off.... the JV potential is why I personally am still here, why I bought originally (along with the now lapsed GL licence) at between .15p down to .04p (equal to 15p to 4p) & have done so again recently.
however what has happened in the interim isn't just the required salaries, funding & other necessary or appropriate activities but a series of poor, failed, disastrous investments, decisions & statements undermining both credibility & value whilst simultaneously causing unecessary & significant dilution whilst setting themselves up with a SIP, warrants & CLN conversion opportunities allowing them to take significant chunks of the company for free as a reward or buy cheaply with the inflated salaries they took for a poor performance over the last years that we effectively paid them.
.it's all very well you coming on here buying in now & painting a rosy picture of the assets we have from 6+ years ago & Amapa but I & many others have seen & experienced the fallout caused by what appears to be poor management (IMO) as indicated above or perhaps, more sinister, an intentional, well exectuted plan..... after all who in their right mind would announce publicly that we were overweight or torpedo a supposed partners share by announcing in a webinar a heavily discounted raise price when they were trading significalty higher so we ended up selling huge chunks of shares & the remains of our entire direct holding in them at close to or less than 20p a sizeable portion of that being £4.5M worth at a £1 a pop for, to pay off installments on an unecessarily large loan from a dodgy cartel of lenders (IMO) & which I'd stated concern about at the time.
You have, hold & voice your opinions & that's fine, I sincerely wish you well & good fortune from it, likewise I will hold mine & repeat them as I choose & see fit regardless of my own 'average' & how much I might or might not benefit from here..... my gripe is that it could have been so much better, more value, better run & managed IMO unless of course it was all stage managed to decimate the share price, MCAP from where it was to where it is on significant dilution & cost to PI's.
again my thoughts & opinions - dont like it tough - it matters not to me & I dont care .... but I shall probably be here till the Sonora JV's are sold or exploited which is why I bought in the first place & the potential of which continued & continues to exceed my perceived damage caused by an inept (to this point) series of decisions by the BoD which they may well have just trumped by the very positive & well structured Amapa prospect .... as I've also said who'll care or remember if it comes off - other than me of course! :-))