AGM21 Jun 2018 04:05
I hope, VanVan that someone here in due course will apprise or give a fair opinion on the coming AGM. I won't be there 'cos it is a 10,500 miles round journey, I especially dislike air travel and I can't (yet) afford upgrading beyond economy class .
I do have concerns though and note the recent views from Kerim... "We acknowledge the continuing disconnect between our share price and the value of our assets when assessed in terms of the in-situ value of our resource and reserve ounces. On this basis alone, irrespective of any cash flow from Kiziltepe, we believe the share price should be multiples of the current level. However, whilst general market sentiment is not something we can control, we remain confident that true value will be recognised in the long term".
I don't want to open up the recent discourse again (involving in4cedros). The subject has been well-aired and in the past I have expressed some not dissimilar observations over perhaps 24 months on iii discussion board. Nevertheless there are two distinct matters of personal concern. Firstly, I place the blame for the fall in our share price directly resulting from the sudden placing at a time when instead we were all expecting the first gold pour followed by an instant hype of investor interest. Such sentiment was instantly killed and, in my view, mistrust immediately set in. For that reason I think cash flow from Kiziltepe is essential and how it is used is highly relevant to investor confidence and increasing share price. Secondly, I am somewhat offput by Kerim using the words "in the long term". I have been invested here over 3 years and yourself longer, yet we are nowhere near the "multi-bagger" forecasted by many for last Christmas! I am ageing and "long term" is not something I want in my portfolio. So, I will now set myself a target of a 2p minimum share price before the end of this year and I don't want to see any more "rewards" until we hit 5p per share. (we're already seeing too much of that by "Zorro" at Lloyds Bank! )