Member Info for Compo62

One more thing Bfd, Bernie has the advantage of seeing all of the cards in his hand, as well as a much better idea of what Hainan and the Mali government are holding than any of us could possibly hope to guess. All of the shrieking on here about Bernie should do this and Bernie should do that is ridiculous. As if building a mine from scratch in a foreign continent wasn't hard enough. To do so partnering with a military dictatorship government and a Chinese mega corporation is mind boggling.

Yes it can be frustrating when, for instance, the resource upgrade isn't forthcoming. But at some point you have to either believe that the CEO knows what he is doing and is holding back for a reason or lose faith in the CEO, sell up and move on. I just don't understand those who have apparently lost faith but stick around anyway and post on here screaming into the wind. What do they gain from it? I am genuinely interested to know.

Rob, you are of course absolutely correct. We have all invested in a terrible company with a useless CEO. I am only 40% up on my punt which is hopeless, right? I am still here because I am stupid and deluded and am hoping for better returns by holding. Which is clearly not going to happen because it's all hopeless, right? So remind us all why you are still here. You have been telling us for months how hopeless it is, and yet you are still here. Whining and whining and whining about how hopeless it is. If I am deluded for thinking the SP will go up, what is your justification for sticking around?

Not good enough, Rob? So, if I understand you correctly, you want serious investors in this company to oust the CEO who has delivered an operational mine in challenging circumstances and replace him with a show pony social media wonk who will talk up the SP so that you can sell up and move on to your next punt.

Seems reasonable to me. Why don't you try raising it at the next AGM?

Is bloggs back pulling on another loose thread? It always amazes me how many of you he persuades to play along with his game. And still you all think you will win by being right. You lose just by playing.

A very positive interview, which I'm sure the green box below has confirmed

Yes Albatross - and it is frustrating that every time it surfaces, it seems to knock another £10m off the market cap. Of all the things that could have happened, including nothing, in reality going to arbitration is relatively positive but, of course, the market reacts like it has been struck by lightning. It means that the end result will likely be a "somewhere in the middle" decision delayed until the impact on finances will be relatively insignificant. But logic and reason play little part

Quite right PSL. All everyone needs to do is wait a few short weeks for the first quarterly report which will prove categorically that everyone was right and everyone else was wrong and you should have listened to me all along. Simple! Another beer anyone?

Thanks potatohead, I've been fishing for additions to my green box list. Bye!

Hey, people on this thread, come and join Mac and I in the beer garden or biergarten, your choice, and chill a little. Think of it this way... If you were happy investing in a company that would arrange it's first shipment whilst the spod price was ca. $700/t, how happy should you be with the spod price at 3x that amount? The answer... HAPPY, HAPPY, HAPPY!!! So please give it a rest or we will all just filter the lot of you.

Ooh, agreed! But we call it biergarten here. Just ordered my second hefeweizen 👍

The SP is rising and the sun is shining (it is here, anyway) so we're all happy, right? All here to make a few pennies investing in Kodal Minerals. That is right, right?

Thanks Wrennus, you beat me to it. Payment terms would also only become critical in a cash flow crisis. But analysis of any of these issues is pointless. The playbook is... pick on a loose thread and keep pulling at it. If (unlike advfn) there are moderators who will remove abusive or clearly irrelevant/fictitious posts, then ruin the board by flooding it with endless bickering. Seems to be working!

Thanks George. It is refreshing to read your well-researched inputs amongst all the emotional guff.

People should also remember that these are both professional organisations, the leaders of which will follow the guidance of their professional legal advisors, not get into a hissy fit and throw their flip-flops at each other. The likely settlement amount, if anything, is likely to be a figure much less than the value knocked off the market capital in the last two days. And it is likely to be many months before the results of arbitration are known.

George, did you see anywhere if both parties have agreed to the arbitration being binding?

It was just before the Chinese New year break. I would expect the 10 day average to be around $2100

OK Badomen, you take the glass completely empty viewpoint. Hainan would demand full and instant payment and not allow Kodal to pay in reasonable installments as monies from the shipments comes in. That is your prerogative. I take the view that such a scenario would be unlikely, and I'm 100% certain that couldn't happen in the next few months. Is there any reason you are adopting the most negative view?

Equally Badomen, if it were as simple as that, it's hard to believe that Kodal lawyers still believe they have a case

Remember John, if Kodal has to pay $15m it will be to a company that it owns 49% of, so the effective loss would be more like $7.5m

Can people please stop using terms like "friends". This is business and it doesn't work like that. Rolling over to keep everyone happy is just one step away from awarding the contract to the most expensive supplier because it's your brother-in-law. It is bad business and just plain wrong.

Arbitration is a service you pay for, not the judgement of Solomon.

I think some people are applying too much emotion to this situation. It is more likely that lawyers have failed to agree rather than some kind of corporate cat fight. Good executives try not to overrule what their lawyers say and arbitration is the best way to resolve it rather than Hainan making a claim and then settling it in court.