Member Info for Castaway

I had a good chat with Richard Baker on the FAL stand - he was very enthusiastic and ran through how the Quiptel streaming works and showed the TeeVee app working on a tablet, they already have sport content and will be getting more in the near future. I think there is a lot in the prospectus that the market hasn't understood yet, the tie up with TATA could be massive they own about a 3rd of the world's fibre infrastructure and FAL will be able to deliver content to the market easily - Richard mentioned TATA were impressed with the Quiptel system and it will come into its own as the higher definition video becomes standard a much lower bandwidth is needed to stream this with the Quiptel technology. I missed Gert Reiders presentation as I had to leave before it started - should be able to see that in a podcast thought. I gather there will be much happening this year and good news flow to look forward to.

yes 22p to buy now in small quantities

must have been some shs sold from fees - looking good, should get to 25p placing price very soon

probably a good buy at 20% discount to the recent placing - I doubt the s/p will be this low in a few months

Looks like it will have been worth the wait

Totally agree - this shell needs and will no doubt get a new BoD this lot have done nothing for 7 years I cannot think of a less productive BoD - enjoyed the remunerations no doubt - totally disgraceful!

overhang gone?

There is still a chance justice can be done, not a big chance but we are not dead yet GLA

Thanks Eric, same to you and all the ORE regulars - I hope Birdy lays a golden egg for you in 2017. Either way have a good Christmas and new year.

I did try but required letter of introduction from broker and that was 5 working days, so not enough time - things are apparently moving forward, hopefully in the next month? - though don't quote me on that!

If anyone has any questions - pass them on I will see if I can get an answer.

Hi Eric - I sadly concur - it makes me so angry the way the shareholders have been treated by the BoD, and especially C Bird on £120k per annum (now reduced) though the rest have been totally useless. I can't see a way forward right now. You cannot dilute forever without adding value. Fuming ex holder. GLA

Just looking in - seems the ORE shareholders are in a very difficult position - you vote for more dilution or the consequences are probably pretty bad. What can I say - it's unbelievable that this can occur - feckless BoD - I hope they are not taking remuneration for their total incompetence - yeh right! I can only wish you long term holders good luck - but this BoD need holding to account - not sure how you can do that with such a fragmented shareholding.

They are making 12% interest on part of it

Yearly admin fees about 350k - last and only placing so far this year placing 350k - share dilution 42% = unsustainable Basically as I see it the BoD have diluted the company by nearly half to pay admin expenses of which the majority will be their pay.

I wasn't saying the BoD's of companies should not be paid - but when you have run a company for 7 years and not built any value and a large proportion of the 6 monthly placings are going on directors remuneration - its time to stop taking. Another company I am invested in fell on hard times and the directors deferred their pay until the situation improved - its the least they should do - to prove up Mutsk and the other project Birdy dumped on ORE is going to take a mountain of cash - there would be more if directors cut their fees.

Eric I didn't know the FCA were involved - unfortunately they can't make the BoD actually do something for their (in comparison) huge remuneration. It does infuriate me that directors still get paid so much for removing money from shareholders via placings. Denty for example had to settle for NT on his sell - it is a complete rip off. These directors should take no money from the company until they build some value. I just had a quick look at the last financials and see the admin expenses are more or less the same as previous years, so apparently they are still taking huge salaries. Sorry for you guys still holding, but I think it will be difficult to keep coming to the market for cash via placing. I don't think there's enough interest in trying to do something, you need loads of PI's on board. With the huge number of shs in issue no doubt held in small quantities it will be difficult. I hope the BoD do pull something off (not much chance with their history though), but its a difficult situation - they could save £250k a year by not taking salaries I would have thought - its the least they should do.

Huge cash value, but is the BoD doing much to buy assets and when will that be?. I have recently bought some could be a very good medium term investment and I don't see a downside with present market cap and silly low share price.

The directors are paid serious remuneration but do nothing that justifies it and shareholders are diluted to oblivion. I fail to understand how this happens - I am no longer a shareholder but I feel like buying back to allow me to tell the BoD how "effective" they have been. They all need replacing with a decent management team who actually build value - existing shareholders need to get together and dump them. Gold has been in the ascendancy all year but this BoD have not capitalised on it. Any disgruntled shareholders want to get together and cause the BoD some concern - let me know on this BB - If there is any interest we can take it further

Thanks Eric and good luck to you - I feel the BoD need to get things moving if they are ever going to develop Mutsk - I hope gold goes through the roof over the winter - the market will pile into anything gold then and ORE will get the cash to develop it.