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What was that about wondering where the ceiling is? This has been an absolutely catastrophic month, reaching lows never seen before without a whisper from the BOD of anything meaningful to come. This is becoming / has become a horror story.
I think there’ll be dilution at this level, depressing the SP even more. Wondering how long it’ll be before the Oman review is finished. Most people have factored that in at 0.0p but a few quid from selling that off (which will inevitably be at far below actual value) might keep the wolves from the door a bit longer. The reason most LTH’s bought in is going to disappear without trace, methinks.
What’s people’s thoughts on the potential floor here? Sub 1p?
I think we’ve all been had, MrB.
I think Muldoon’s departure basically counts as the crossing of a notifiable threshold, as I predicted yesterday. Regular contributor of sensible comments, which reflected his substantial holding. A holding that’s been whittled down by repeated dilutions needed because of a continuous failure to meet any meaningful targets here.
I wonder what happened to Trisse and Iceberg...? Probably gone the same way.
Very noble exit by Muldoon. Gutted that he’s cut & run with a loss. His forecast of 1p is really worrying because he’s a smart guy.
I’ll probably allow myself to mugged off by Archer for a bit longer before I accept the inevitable. Not happy about being taken for a fool by a bunch of slippery snake oil salesmen.
CM: optimism is no substitute for evidence.
Night all.
Sayono mining - down 90% in 2 years
BCN mining - down 65% in 2 years
Lithium Int - down 50% in 2 years
AVZ - Down 60% in 2 years
Things in common - overpromised, underdelivered. Sounds familiar.
“This kind of interest has a habit of trickling down to the juniors including those about to publish feasibility studies!”
Any examples of juniors who have benefitted in similar circumstances, or of Li juniors about publish feasibility studies...? You’re surely not trying spread confidence-flavoured Jam rather than concentrating on the evidence, CM?
Half my posts about missed deadlines were removed as well. I get bored going back through old RNS’s and seeing how many undelivered promises have been made. Pretty much every forecast for something meaningful to happen has been missed. Good at getting drilling done and resource estimates churned out at speed but every single forecast about production dates has been missed by years for every project.
Sep 2018 RNS: “we are on track to become a low-cost producer of quality spodumene lithium concentrate by early-2020”
Does anyone even expect a decision about whether to produce to be made this year?
Mozambique HMS all over again.
Omani copper all over again.
A failing BOD, failing projects, failing business.
The Portugal DFS was due “early 2019”. Currently scheduled for Q2 2020. That was announced before the delay to the EIA, so it must be assumed that an even longer delay can be expected now.
According to Quietmode3, the company advised him last week that, “We are working on a number of aspects including on ground and harbour studies that will feed into the pre-feasibility study”
According to Sep 2018 RNS, “work continues on several fronts in the lead up to the anticipated grant of mining leases, with the scoping phase of the Pre-Feasibility Study ('PFS') now well advanced and the initial key studies underway. These studies include hydrology studies, port options and the collection of a 10 tonne bulk sample... The results from this test work and the PFS will guide us in the infrastructure, power, mine planning and process plant requirements, allowing us to progress to the next stage of commercialisation”
Why are so many targets missed, in some cases by YEARS?
This time next year we’ll all be millionaires.
If previous reports had been true we’d all have been sitting in soiled underwear fro several years now. Jam tomorrow.
Today 14:29
“ lots of exciting announcements on investment to come in 2020” said DA in early February. So, another’jam tomorrow’ announcement. I remember a few years back when the SP hovered around 4-5p how we were told there’d there’d be “transformative” news during the year.
Osaka, you accuse me of trolling but don’t actually state where my (admittedly, but justifiably) angry and frustrated comments are wrong. You say, “ The PFS was commenced then paused because you would waste money doing it without mining licence approval“ and my response to that is why start it w/o ML’s at all, then? It was started long before they we expected them to be awarded so that we were good to kick on once received. You then go on to support my general views. I might be a bloody whinging pest, but I’m only making comments and asking questions that deserve a response from the company.
The thing is, Tony, we already have a JV with Rio in Moz and upon delivery of the PFS our interest rises from 20% to 35%. This would be, as claimed by the company, seriously value adding. Unfortunately, commencement of the PFS was announced in August ‘17 and was supposed to be completed ‘in months’. It’s notable that the SP fall this week coincides with news from the company that they’re working on things that will “feed into” the PFS. We’re not talking about the need for a bit of patience here - some of us have been holding for around 5 years on the promise of stuff coming out of the ground by the end of 2017. The disgraceful delay with the Moz PFS is just one in a long list of missed deadlines.
Given the upbeat message from the company reported below, it’d seem reasonable to expect some serious buying by the BOD at these levels, to show that their interests are still aligned with those of the shareholders (remember those days?) and that they’re not incentivised to keep kicking things into the long grass by trousering a handsome sum in wages in the meantime.
I know how risky AIM penny shares in mining companies are, but this is as close to a scandal as I’ve ever seen.
Portugal: “we hope to lodge the EIA in coming weeks...“ [100 weeks? 150 weeks?] “...and this will be followed by an extensive programme of stakeholder engagement” [lasting 1 year? 2 years?]
“On Moz first... We are working on a number of aspects including on ground and harbour studies that will feed into the pre-feasibility study” AN August ‘17 RNS stayed that the PFS would be completed ‘in the coming months’, which was a VERY long time before we expected mining licences to be awarded.
Now that licences have been issued we’re working on things that will “FEED INTO“ the PFS? is that some sort of joke?! you call this stuff “value adding”? Take a look at the SP, Archer! Yer ‘aving an absolute laugh!
‘Yes’ on the basis that every sell is to a buyer. There’s always someone willing to invest in a Zombie company mining for jam...