RE: Metal Commodities Starting To Rise11 Jun 2020 14:24
When you read "proactive investor" etc they summarise and more often than not that gets taken for verbatim as a lot of people then discuss it on BB's. I.e the only thing stopping Star being monetised was a mining licence
in the RNS's the info is there, but the terminology is subtle and you have to decipher it, but it is possible. the first agreement was for an off take agreement, this has to be agreed by the ZM (Zambian ministry). that was the first hurdle which is now complete, but I imagine was commonly mistaken for the mining licence. The mining licence is still outstanding and that is also granted by the Zambian ministry. ......but they are 2 different things. so there has been no cover up or foul play. Covid hindered the former so everything is pushed back............also Zinc refinery at JLP but we are just talking GLR and their accuracy in information.
CB said to TW in the share conference 2020, (worth a watch it costs a tenner) when asked directly that they don't need to do a placing as they have enough money to last a few years referencing Kash etc. Botswana was completely left field (as far as we know........and like Oiltap i'm also willing to overlook the "no placement statement", this for me is due to the circumstances and the opportunity arising and a little faith that this was an opportunity not realised at the time of the share conference............which is the only place he has said they didn't need a placing and gave the parameters around that i.e managing the portfolio of GLR at the time)
you have done well Roosters and Credit to you. Big money there, but the information you are saying is missing is actually there in the RNS's. I do understand however the circumstances of the placement leaves a bitter taste in the mouth with how it was done.
in a recent interview with TW on his website Shareprof.......its (you can get a day pass for £1.99...again worth a listen) , CB gets grilled and he promises not to do what he's just done again and to offer current share holders Primary options. TW makes it very clear for the sake of his own reputation (as he tipped GLR and other CB companies) that he would have nothing to do with him if he did that again and I imagine a lot of other investors feel the same. I certainly do. so on one hand yes its not great, but you can argue the opportunity aspect and the fact all the great things about the company of why you invested in the first place and made your 100% are still there, its just the distrust of the CEO that made you sell. I am still invested in the same great company that is un changed, but I use recent events that there has been a serious shot fired across the bow of CB that he simply cannot afford to do that again. if there was even a hint share holders would literally just sell up and move on as you did.
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