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Happy Monday All,
Seems another exciting day on the MRS board. More insults flying from one side to the other.
Mr Copley certainly has a lot to say though, without more information having a opinionated view doesn't qualify someone for the board position of a PLC.
gige, someone already said the that Jack is Hogan, someone else said no, grammar etc is too good.
SID001, I'll say it once, I'll say it again, people need to be careful throwing accusations of fraud around, I'm sure one or two on social media have come to legal harm previously.
So, still no solid information about Robert Wall and John Copley, other than an apparent IT background and some well thought out and quite frankly very retail investor based questions during a Q&A. Hardly the stuff of inspiring leadership to take MRS forward.
Nice little gain to day though a few more of those and I'll leave you all to squabble between yourselves.
I suppose it is interpretation of language. I haven't seen anything to confirm or deny that Surjeet called the GM, as you mentioned it was retail broker accounts which grouped and called it. That said, I have a tendency to do some tenacious digging when something intrigues me, Surjeet has said a lot about EGM's on twitter, openly, nothing about an actual EGM being called but enough noise to draw an educated guess from.
Reference leaky, pretty much all of them are!! There's always some conspiracy on AIM as it's a traders paradise of panic/speculation driven retail investors trying to get the next 2 - 4x share. Its just the game and the reason I left the boards as it sucks up so much time seeing what's being said. I've gotten into that fing trap again with this basket case!!
Said it once, I'll say it again, never a dull day on here!!
I don't think I've followed a share with two defiant sides which are fighting so hard to get control.
I'm not sure the GM would be classed as insider information, especially if Jack didn't act upon it, and once posted in here, it became public pretty quick. But I do wonder where Jack got said information from, Jack.........spill the beans there's obviously something unwholesome going on here.
And Trout, no offence, but you landed yourself in it with that post "That's why Jack knew the requisition was made by Surjeet Singh" and yet no one has confirmed this so you were obviously in on it." and since SID001 said "There is no evidence of me stating a EGM has been called on social media as I have never stated such a thing. You clearly had inside information regarding the EGM - please can you provide your source as it definitely was not me." A couple of posts before so there's obviously something going on inside closed groups, I think the previous used comment, BUSTED, is apt here. Not taking sides (though probably will be marked as so), just seeing facts. Both side of this argument are stupid and destroying the company. Agreed, the Alerion deal has a lot of connections, I doubt I'll even be holding if or when something emerges of the drone just looking forward to the inevitable rush and rise to get shares for the GM, then I'll leave you crazy bu@£ers to your fighting!!
Fair points and I agree that confidence is certainly the responsibility of the board and that is pretty obviously very poor however, some of the comments on here are just pure venom.
TBH the price right now is stupid and it would be good to see some big buys or an institutional investor come in as the R multiple is just amazing. Like the BOD or not the potential is there. I'm neutral, Burton seems to be into everything on AIM (4 when I checked this morning) with most not performing or about to raise cash, Zorbas is tainted and his companies ain't doing too well either. So, to be blunt, both parties are a sh@t show.
Wow, never a dull moment on here!! The two camps are certainly plain to see though there seems to be more poo being slung around as opposed to facts.
Interesting post Austin, I'm not sure its the job of the board to effect the share price, that would be manipulation. They are there to run the company in the best way possible, sentiment and speculation are what drive companies share price. hence the old term, buy the rumour sell the news. You talk of shareholder value but you hold a share with no dividends which has questionable private whale investors as major shareholders. Gotta love these boards!!
I'll take your word on that as I've not looked that far back, no need, but Burton and Brown have been out for quite some time, and based on current performance I'd be surprised. Might have to do some digging as there seems to be more to this one than meets the eye. Right see you later, lunch time gassing is over.
Fair point WeeDave, profitability is always subjective, always easy ways to fiddle the books.
Not sure about Alerion "scam" and I'm reticent to throw words like that around but we should find out soon, maybe, possibly.
Can't disagree on the next two points.
Not a long term holder and would never consider myself an owner unless I had a substantial amount or complete control.
From what I can read on Twitter and here, the EGM is being called by the same small group who support the placement of another failing companies NED. I get that people have been stung but Burton doesn't seem to be doing a great job, two raises in less than six months (and I remember seeing preemption rights being an issues on here yet he's happy to use them on his own company), 25k left in the bank. Sounds like a great NED.
I would think that long term holders would prefer to get in some real fresh blood, the new NED has nearly got through the door and could be gone, considering the relatively small mining community in Hunter he's gonna be pretty ****ed.
Wow, it's blown up in here!!
Complicit or not, Brenton has done a good job of getting the company profitable with outside factors being as they are. Looking at the last EGM releases, Brenton isn't going to sit around waiting for the proposed board, he's already stated his opinion of them and he won't retain his seat should they win.
There's a lot of money to be made on trading this share what ever happens as its too cheap to ignore but no institution is going to touch this with a perpetual fight for control.
Brenton has a shit ton on his plate running the business, I actually feel sorry for him as the management team is, well, none existent for such a large company. Things will suffer as a result, communication being one of them.
The new NED will take a little while to get up to speed, but pretty soon we'll be back down to one if Zorbas leaves.
Refinancing, just taking the **** now looking at the history but I think I got in at a good price so doesn't bother me as only way is, maybe, up.
Share price, err thats up to us, board can't manipulate the price, the company results are what they are. Speculation and noise from retail is the only thing trashing the price. I'm hoping the scrabble for shares to vote will drive the price up and then I'm off. Only came because BHP have them as a service provider and it was so fing cheap.
Hi all, based on fundamentals this seems very cheap even with the tussle for control. Bought in a few weeks ago on after the big drop and watched it yoyo should have gotten out during the spike but seems I'll have to wait it out.
Not excited to see the news of another potential EGM, was hoping for some stability for a while but if we must.....
I have to be honest though, I'm not sure which party is better for the company. Is this a case of fresh blood that isn't so fresh or better the devil you know. The shenanigans don't seem to be that unusual on AIM considering what's happened to other companies though all these bloody messy connections seem to be a bit suspect.
@jackOfTheNorth, where did you hear the news on an EGM?
Fair point AIM4, I stand corrected however, there will be a certain amount of speculative adjustment, even just to sell out on the lift prior to the actual news. Just seen it happen too many times, sell into the speculation, buy after the news.