Member Info for Dan1605

It's grim across the board and the FTSE is not different, there's no stock immune. I've been investing for 16 years and this is by far the longest prolonged drop I've witnessed which started last January.

I don't think Scott is UK based, just by the time he seems to be active on Twitter which seems to fit with Aussie hours.

A good summary! It's long way to travel to regurgitate old information, I want to believe they're here to build trust and inspire investor confidence but the chances are they're here for something else.

My thoughts on Andrew are extremely positive, I've have sat down in front of many salesmen/women and CEO's over the years and have developed the ability to detect bulls*it from a distance. From what I've seen of Andrew so far I am happy with and I don't feel he's in a position to shaft shareholders. I'm not speaking badly of CB but this is turning into a different animal, unfortunately it's starting from the ground up. We've been stripped back to a shell with good assets and a extremely good team, the issue has always been about leadership and I feel Andrew has arrived just in time, another few months and I feel the problems at ECR would have been terminal.

I believe the presentation is being recorded and will be added to the Proactive Youtube channel.

I seem to remember CB saying cash burn was circa 80k a month so on that basis providing there are no large purchases we should be ok for at least 6 - 9 months months which gives them time to review the Portfolio. My guess there's circa £1m in the bank. I'm sure we'll find out tomorrow, for those who can't make the presentation I believe it's recorded and will be posted on Youtube.

It looks like there was only one lot of £205k the other RNS was just clarifying issue details.

Just a thought but we've had two RNS's since the 31st March for warrants totally £405k, I don't think these were included in the results. Can anybody confirm?

I've seen articles online suggesting prices have hit $80-$95.00/kg over recent weeks. Small daily rises are absolutely fine, keeps the pump and dump merchants away.

The book is flipping, we might just get a good finish.

The only thing that's making me believe otherwise at the moment if the effort the company seems to be making to get investors onside and rebuild trust. I thoroughly believe that Andrew does hold respect for shareholders whereby I didn't get that feeling from CB. To pull the rug in these early stages would destroy any chance or building any rapport, I mentioned before that a open offer/rights issue maybe the way they go which is why they're going for the investor presentation to drum up support. We have three days until we find out, not long in the grand scheme things of things.

They'll be keen to raise early due to the collapse in the equity markets, it will become harder to raise as the invertible recession approaches. We assume the worst because some of us have been around a long time and know how it works. Andrew stated that a review of the Philippines would be carried out over the coming months which means they are nowhere close to selling the asset, can't comment on the properties. They'll be expecting this question to be asked at the presentation so we may hear something before if there is anything material to be said.

JBER have been on the ask since Thursday and every time they were taken out they loaded again - this is what makes me think somebody knows something. There's no smoke without fire and this is starting to smoulder.

I agree, they should have enough cash until the end of the year, by that time they've hopefully had some positive results from Bluemoon to secure a JV. I'm purely looking at upcoming events and the SP/order book, like a said I'm trying not to jump conclusions but 15 years in this market I've seen it all. The board seem committed to getting the sp above 2p.

Well the book looks shocking again today as it did on Friday, big selling pressure around 1p. I've been thinking about this and my thoughts are they are in London to meet brokers, the investor presentation is just a side show. I'll refrain from trying to put two and two together for now.

I find it a little strange that Colin and Phil would be topping up at this level knowing cash is low, this leads me to think something is afoot, more than likely something that the company is not yet aware of. I've always been skeptical about them knowing anything but buying millions when a placing is likely this year is a huge risk and I don't think they're stupid or wreckless.

I could be wrong but I think it has to go through the high courts of justice to be approved. They will buy back over time, usually several times a week depending on the volumes. However, with stock very tight I think they'll have a job buying back in size so it could be a slow process.

I agree Talkingsense! Don't forget the 200k received from warrants in April which won't be included in these accounts. Cash has depleted because CB went on a spending spree in Creswick, was this a smart move, well it will depend on what we get for those properties which in my opinion will undoubtedly be sold. Like you say, there will be a fundraise at some point late this/early next year but ( I may regret saying this) Andrew doesn't seem to the type to shaft shareholders, they're putting in a lot of effort trying to repair a broken relationship and therefore I suspect a rights issue/open offer. For now nothings changed. Have a good day all.

I'm scratching my head to be honest, the selling at 1p is bizarre. Nobody is making money at this price, not even the warrant holders which leads to me to think something else is going on. It wouldn't be the first time that MM's have been short on this share. A month ago I would have ripped their arm off for 1p shares but I just can't bring myself to buy any more, not even at this price. I'd rather wait for the sp to get back to 1.15 before buying as daft as it sounds.

Sod all. The way that he let things slide after Andrews passing highlighted just how inept he is, he didn't once appear on camera, instead sending out Adam. The bloke is an embarrassment and I as said before, anybody not adding value will be culled. My interpretation of Andrew is that he is shrewd, you don't build a multi million pound business carrying the incompetant.

Much better, better than the first imo and good to see it was a video. As investors (as well as the sp going up) all we need sometimes is some acknowledgement from the board and yesterday we got it, it shows they are listening. I think Andrew will make some radical changes for the better and I can see Tang resigning in the not too distant future. Guys like Andrew can tell quickly when they're carrying dead wood. Have a good holiday everyone!

We're negative Bitcoin because there's very little to be positive about, you can't polish a turd mate. I, like many others have been holding for years and we're getting a little peed off.