Member Info for Bannor

That also means that ANY sales we made/make in Mar (there's still sizeable selling) is being made at a fair negative margin to investment....

..... bloody hell ... just wrote (& lost) a large post so you can now have the precis version.... Dallas is correct in that we missed the spike completely..... however TC is also correct in that I cannot be sure we sold at a loss & indeed having checked I am almost certainly wrong so it's a 'hands up' from me ... but only on MMS.......

We purchased half our holding at CA$0.02 & half at CA$0.05 - Ave CA$0.035 consolidated 4/1 for average CA$0.14 the share price from Nov 19 thru Mar 20 when we we clearly selling due loan payment/running cost pressure was above this so should have returned a positive margin against the investment average & suppressed the MMS share price in the process which matters less to us now than it did clearly .... doesn't change my opinions of our BoD, their performance or anything else a single jot ....

They've already failed as far as I'm concerned, everything they've done & tried to do other than pay for the drilling & getting 30% of the JV's has failed or is failing in my view.... even the JV's we have no control over & I worry they'll sell them out cheap in desperation ..... but I think Dallas is right ... let Amapa play out for the next month or so & see what happens with the project & SP if it recovers or seems likely to recover to a point I can get my money back I'll be out anyway & won't be able to do anything in any event .... the risk is that even if they sort out the banks there's still a shed load of money & funding required & of course risks in the reinstatement of the mine & railways, one accident could finish us completely so at the first recovery opportunity I'm probably out ....

If things haven't moved sufficiently better within a couple months max we can see if we can drum up a sufficient percentage to force an EGM to make changes ... but if we want to remove directors or force changes we also need to have replacements / alternative plans in place.... & be mindful there are probably newer investors who won't be on board with us oldies & probably plenty of oldies who won't support it either & then of course those who might still feel they're doing a good job - even though we've sold pretty much everything at a loss that they were patting them on the back for previously !!!

Mr C We held just under 16% of MMS at one time although I think their listing on ASX May have dropped it to circa 12% .... now just over 4% … we've sold completely of BCN/AOU at a loss partially of EMH/MMS at a loss & sold our recompensing RAREX shares for peanuts ... considering that many of those shares were purchased with a crippling, costly, diluting & unnecessary loan were still dealing with the after effects of it's a great track record huh!!

Cadence Minerals CEO Kiran Morzaria added: "As markets around the world continue to reel from the human and economical impact from the Coronavirus, a resilient iron ore price continues to support both our investment strategy into Macarthur Minerals and our Amapa Iron ore project investment in Brazil. We look forward to further progress updates from Macarthur."

Yep great strategy Kiran Messiupio .... buy & then sell at a loss because of the **** poor decisions you made on who to borrow from, where you invested it & every other decision & directional move in the last 6 years ..... I just hope people don't start lauding this twat IF, AS & WHEN Amapa becomes the one investible project they've progressed over the years that we're once again a junior partner in ....

The only thing I can say with any certainty is that whatever we sold any for we've realised a loss on them ........ AGAIN!!!

..... it's just their half year report & accounts nothing we don't effectively already know.....

If you're interested Rarex also delivered theirs last night as well ...... they also announced on the day before that Kincora exercised its option of their NSW gold & copper projects so confirming to me at least that we no longer hold interest in them.

...... not all missed it Mrs B.... I read it last night :-)

... I now reckon yesterday's announcement was made purely to cover someone's arse in case of question as to whether all information was in the public domain when the purchase was made....

Ha ... Indeed but only by the very slightest of margins though, should I be jealous, perhaps so......back in the day I did try to buy another wedge at £0.00035 about a week later but I couldn't & it exploded within days & then foolishly averaged up :-(

Anyway if I can find some change now might be the time .... if they've submitted a settlement offer after a lengthy period of negotiation they weren't reasonably confident would be accepted why bother submitting it ....unless of course they're even more moronic than I've personally already reckoned them to be!! :-)

Can they finally successfully pull a rabbit out the hat after years & years of failure, loss & dilution ..... still not overly hopeful of much more than recovery for many here (including me) now but watch this space.....

Indeed... good spot ... I can only assume the exchange had issues today as it took me ages to get anything at all as it kept crashing!!

.....because they're 'negotiated' ....

Time/date of execution Price Currency Volume Trade value* Trade type Trade flags MIC
15:20:38 11-Mar-2020 3.95 GBX 9,063 357.99 Off-book N AIMX
13:24:24 11-Mar-2020 3.95 GBX 7,469 295.03 Off-book N AIMX
13:16:23 11-Mar-2020 3.80 GBX 20,000 760.00 Off-book N AIMX
13:07:02 11-Mar-2020 3.82 GBX 26,000 993.20 Off-book N AIMX
12:41:00 11-Mar-2020 4.00 GBX 56,000 2,240.00 Off-book N AIMX

Hmmmm if so I suspect that also means we'll have to find another $20M Capex/recon to make up for the loss .... good job we knew everything up front eh!!

....... some have been asking for an update (broader than today's though!) What we got was a few sentences confirming something we already effectively knew, with no end date & no guarantees so a waste of the RNS fee in my opinion....

Indeed Dallas my own feelings for our BoD & their performance are pretty well known ..... but I do think lyng is perhaps a tad strong ........ but I'd go with economical with the truth, misleading or incompetent ....... in fact I'd go with all three!!

.....to be fair & I'm not sure why I should be...... our own poorly performing BoD didn't have much to do with the 'terms' of the 30% JV holdings in Yangi which was inherited via the purchase of Mojito many many moons ago by a newly formed REM

@ADV11 ..... the difference between selling 40k shares @ 4p each & 3.8p each is £80 ..... if I'd gotten to the stage where I was in the mood to sell (which I'm not) personally I'd just accept the additional £80 loss on top of any losses I was already sitting on ....

..... you missed of Kiran Messiupio & co selling some hefty chunks in Jan & Feb...

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02211663

Indeed....EMH with BCN Deja vu

2017 bought less than a million share @ 35p each sold...
880k in Jan @ 16p each
1.2M in Feb @ less than 15p each
400k in Feb @ less than 14p

Way to go Kiran & co...... just waiting for the RNS to indicate the gains we have made on the investment based on the 'original' price paid for the ones we sold!!

EMH or not.....

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02211663