Member Info for BeenhereB4

Sorry to hear your sad news. I'm retired now and lost my Father some years ago but still think about him every day. I hope you will get the strength of your family around you to support you during this difficult time and look forward to seeing you back here again when you are ready.

I don't mean to be a doom monger. My position is, I have had a £20k investment at an average price of 1.6p for over two years and I admit I do tend to panic react to bad news or red days. If and when the permit is granted I shall be one of the first to congratulate all concerned, both here and privately. Actually, Oil and lano, your optimism and humour are among some of the few things that have kept me going here throughout the last eighteen months.

Anyone who saw the interim figures as at 31st March would know that the Company could not continue for long without a cash injection of some kind. With no news on the permit front and Dave coming to the UK shortly to do the rounds, I think that the market reaction today can only mean one thing.

From the apathy surrounding this board in recent weeks, it would suggest that there are others who empathise with my current thoughts regarding this share, which are, fed up with 'news imminent,' 'updates shortly,' 'things happening in Mebaga,' 'relaxed,' 'patience required,' and all the other crappy, jam tomorrow expressions which seem to be synonymous with this share...........and nothing ever happening. Time for something concrete here before the falling price of manganese makes any decision academic and this goes the same way as the AA/Mebaga catastrophe.

The Ides of March are come!

Thanks for the clarity. All seems well. Permit next stop!

Thanks for your posts regarding the new Cabinet. However, there seems to be some anomaly in your posts regarding the name of the Prime Minister. In addition, there is a 'serious' website, which only yesterday is still expressing concerns regarding the health of the President (still states he has not been seen in public since 5th June.) Can anyone throw any more light or assure us with any certainty what the current state is?

There is no need to report the previous posting. Andee is a serious poster here and is normally favourable with his comments about the Company. I confess I still don't know which to believe. All I am sure of is that the posting was done in good faith, and if it is a joke, all I can say is that there are some people with a very warped sense of humour.

At 31st March, the Company had a bank balance of £452k and current liabilities of £366k (current liabilities of £413k, excluding Dave Reeves' loan, less current assets of £47k.) It may well be that another cash call may be round the corner (although I respect Oil's previous posting regarding this) but, on these figures, I think it's pretty safe to assume that the total of DR's loan is no longer 'sitting in the bank.' The probable likelihood is that the majority of this loan was expended prior to the placing in February.

I think it should also be remembered that without the loan from DR this Company, in it's present form, would either be bust or would have required funds earlier from another source, which under the circumstances, would have been another placing, and consequently, a further dilution. Although the RNS regarding the loan makes no mention of compound interest, nor a repayment timescale (apart from stating it is a short term facility) if Dave Reeves can pull this off, and in three years the Company is in a position to repay him £400k, I know, I for one, would be delighted to see him get it.

Let us hope that something happens soon regarding the permit and funding of Nayega. This Company had funds from a placing and loan amounting to £1,135k in February, plus whatever was in the bank at the time, and only £452k a month later (£300k of which is owed to DR.) With trade and other payable liabilities of £413k at 31st March, unless something happens soon, I fear another dilution cannot be far away.

Itellya - If you have received the Notice of the Annual General Meeting, you will know how many shares are likely to be issued to finance Nayega. It should also give you an indication of the price required to raise the necessary capital.