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I think the phrase is: We've been screwed.
Still, where's the money.
I'm not actively here, so I may be slow to respond, but look at page 21 of the 2019 AR. I'm looking at actual cash paid, not share options. I'm open to correction if I'm wrong:
Under salaries and fees for executive directors we have:
Laurence Read 2019 135,549 - 2018 - 73,249
Myles Campion 2019 180,484 - 2018 - 52,782
You may justify it, but it doesn't leave a sweet taste in the mouth for a number of reasons.
I hear you Shed: But 3-4 years ago LR justified no skin in the game because they were on "low salaries". After the chairman quit or was pushed, their pay doubled or tripled. There have also been multiple stockholder diluting share issues to the detriment of the long-time small holders before or since then. I still believe in the mine, but have no faith in the directors. In the meantime, I see no urgency by the BOD to deliver. EOS.
Shed: I'm with you on this. Another mouth to feed in the absence of a clear strategy to us long-term holders. LR: Lay out your plans and intentions and tell me this isn't another mate boarding the gravy train.
Well, as they, you never go broke taking a profit. I sold half my stock at a 1100% return. If BTC comes down, so will the ARB share and I'll top up.
I bought in Sep 2019. It's now a 12-bagger. Patience if you trust your judgement.
Both markets have moved up 15%, which is positive. I really hope the end game is in sight.
Hmm, the RNS on first look is not shoot the lights out. Tonnage is up but grades are down. Inferred resources slightly down, too. But, still, it's a positive step forward.
In woodworking I'm Dirtywoody and my first name is William, so it was logical....
Shed: You can call me what you like 8-)
Yeah, Jesus has lots of experience, but a mine is more than one person. Anyway, I believe it would be a big mistake to think of going it alone. But that's my opinion.
From my side, I've long discounted the idea they would go it alone. They don't have the resources (money) or skills as mining is completely different to exploration. My first choice is a minority equity stake in a JV with long-term dividend flow but more likely is to sell out and move on.
You can often deal directly through your banking app. I use Easy Equities. Not the best, but cheap.
JSE hit R75 this morning, now down to R29. Still, it's a 100% rise. Weird times.
I'm thinking there's people chasing stock on the JSE with limited availability and that it will fall back to the historical adjusted average of 500c. As of writing the volumes and values are a pittance, Volume Traded 175 804.00, Value Traded R 1.46m. Just a little squall in a teacup, but I may be wrong.
It's R8.00 or 800c. Wish it was R800!
Key phrase that stands out: "Continuity of thickness" of the high grade seam.
It just gets better and better. We now know it's a fairly straightforward mining process. Onward and upward.
My immediate take on the RNS is that one or more shareholders have put their foot down to any further dilution and cash raises. They want to see the money. So, no more drilling and get it ready for sale. Others have said it's a bust, but this is certainly not the case. I hope those shareholders, whoever they are, want to extract the best deal, not just lost patience and want out.
Bricks: Your quote says: The mets will provide "an initial understanding of the potential saleable zinc, lead and silver concentrates". That's what it does, with more work still to be done.
Based on conventional flotation recovery only, what does this now say about the value of the minerals in the ground (indicated and inferred)? Out with your calculator. The next phase of the mets will be about identifying deleterious elements and, I guess, subsequent stages of processing to recover more Zn.