Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Its almost over here, then, I can't imagine that the BOD are going to improve anything just by going NASDAQ.
My shares are worth approx 10% of what they cost me, that goes back to 2007.
I was a professional before retiring, and , if I had acted in the way that the BOD has been doing, I would have expected claims against me for gross incompetence, by the day.
This has been a complete disaster, and has continued so to be in trying to convert to ADS.
Computershare seems to be vying with VRP for the title of 'biggest bunch of merchant bankers in the finance industry' , they even managed to return some of my info to another shareholder, who called me to let me know what had happened!
I now have Hargreaves on it, and its like night and day, but, at the end of that day, I am still holding shares in the most worthless outfit in the country !
I have to admit that I am a bit late joining the debate on ADS conversion, but, I have received paperwork form VRP which includes forms so simple to fill in and send to computershare , that most of the board members of VRP could probably do it!
It seems so easy when I look at all of the posts from people who are struggling with this, or am I missing something?, please tell me, somebody.
BTW, Rohdi, good luck with your willy cultivation, you will probably get a result before this outfit shows anything like integrity and proper results
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After months and years of staggering along, it is inevitable that this sorry outfit will eventually stumble to its knees, collapse and expire. The BOD will probably find its way out into various areas of the business world, some will surely find employment in the world of merchant banks, where, we can then truly say that they are a bunch of merchant bankers
Should have done long ago, but, probably like a lot of people, I watched it wobble up and down, before settling on down. Then, thinking that it might wobble back up, I stuck with it - big mistake. I bought most of my holding at 5pence, pre dilution, so that would now stand at £2.50 , pointless to sell, now, or for the last few years.
32.5 ?, come on, everyone, lets get real, the rate at which this ship ( have I spelt that correctly? )is sinking is now accelerating. JAK can't possible have foreseen the SM crash caused by Corona , but, he probably decided to jump ship because he was in a first class position to see the direction in which VRP has been moving, anyway.
This outfit has no income, other than that raised by even more dilution. A lot of far more sturdy businesses than this are probably going to go under because of Corona, and, I can't see that VRP is in any sort of condition to be able to defend itself from that. If the board try to issue more shares, who will want to buy into this, at this time?
I have been holding shares for a very long time, I have watched all of what VRP has done, and, now, I really believe that we are on the brink of oblivion.
I really hope that it wasn't 'resign and you will find yourself well trousered, but, if you don't, we'll sack you anyway'
Sorry to break you potential thread, F1968, I am back for my quarterly look, I couldn't take the strain of viewing this debacle on a more regular basis, hence, I have only just become aware of JAK s demise. Somebody, please, give me a little background, did he fall or was he pushed, did he give back any of his ill gottens? - very unlikely, or how much more of our money was poured down his trouser pockets?
I have not bothered / been frightened to view the SP recently, the last time was when it seemed to have settled at 100, in itself, disaster level. Now, obviously, it has halved.
JAK and his BoD appears to have achieved absolutely nothing for the company and its investors, whilst achieving lots in terms of his overall remuneration packet. When he was appointed, the SP was approx 200, ( and falling, admittedly) whist he has presided over matters, that price has gone down by 75%. His remuneration package ( something like 800K when I last looked ) has risen, consistently. What is was last year I don't know, something else that I can't be bothered to waste my time to ascertain.
I have been in this mess for 11 years,and it has never looked remotely like delivering on any of the promises that fluttered out from time to time, who remembers ' significant medium term gains' ?
If JAK can get the SP up to 500, I stand a chance of breaking even, but that's a tenfold increase , apparently way beyond his ability to achieve.
Some form of apology, or show of regret at this appalling performance is long overdue, but I doubt if it will ever come.
So, JAK has cracked the million a year !, This includes a bonus ( ? ) of 86% of his base salary , which was considered to be 'appropriate ' by the Remuneration Committee. Who are the RC?, does anybody out there know? They are obviously big fans of JAK, in which case their judgment is questionable , to say the least.
124 is almost exactly half way between our recent 138 high, and the LOOOW of 102 ish prior to that mini revival - and heading downwards. Def another false dawn, as somebody mentioned earlier this week , one of many. I suppose that some of us were originally tempted, at least partly , when we could get in to this for pennies ( guilty, your honour ) , and, that remains what it is really worth. I was told , when I first bought at 5 ish pence, that it could possibly rise to � 1 - �2 eventually !, then , soon after, when the price reached 10 p ( my 2nd buy) I was kicking myself for not having gone in harder with my original buy . Now, I'm kicking myself for aver having gone in at all ! Whilst JAK continues to luxuriate on approx �400 per hour , for achieving what appears to be absolutely b....r all , we can only keep an eye on the price, and try to pick the best time to get out with the least possible loss.
SP doing a fiddlers elbow again. I am about to go into gold, and my observation is that if I had bought gold instead of VRP shares at the beginning of this debacle, it would be worth approx double, today - and it looks pretty. That's 7% PA, extremely good by current standards. Penny shares, as these started ,must be the easiest to make large gains on, a handful of pocket change could do the double up, but, here we are right back where we started years ago, the only gain has been for JAK and the rest of the BOD who have drawn very nicely, thank you. Shameful.
I may have mentioned this before, we are not 7 / 8 years in, this fiasco started in 2005, therefore, we are already significantly beyond the 'about 10 years'. Interesting what you pointed out, earlier, about JAK etc being compelled to buy shares, it suits them that the SP is down in the weeds, whilst their salaries aren't
I beg to differ, BH, JAK is not an idiot when he can draw £800K per year for bu**er all, :- ), but, I do agree with your sentiment 100%
i'm a little late is responding to your post, Rhodi , but feel that I must point out that JAK's salary is not 16k per month, but 16K per week. His total remuneration package includes a bonus of nearly a quarter of a million ! , doesn't bonus mean reward for performance?. I feel that it is more appropriate that he gives back a quarter of a million!
Next Year( Rodders) , where have I heard that before?
Right again, BH, how many times have we been here over the last 12, COUNT THEM, TWELVE, years? now back to less than 3p on original values. It will soon be time for someone to trot out the ' significant medium to long investor return' tosh again. Zero return thus far, how many decades qualify as long term? Indust still seem be lurking, even though he said he was going, and even though he is not invested, just pretending, I would say to him DON'T TOUCH THIS WITH A VERY LONG BARGE POLE.
I think that Rhodi may have been correct that Indust and WC were one and the same, its easy enough to start with a new identity on another device The tone of this board took a nosedive with the arrival of WC, but with indust gone, also, things may perk up. If they weren't one and the same person, we may have just seen the back of one of the great love affairs of our time;-)
Right again, AB. This board seems to on turning on the BoD of late, and justifiably so. Have a look at JAK s deal, he has £135K invested, and last year made over £800k in his total remuneration package, including a ' bonus ' of more than his basic salary ( what ? ) . An annual return of 500% on his investment - for achieving bugger all !
A good, robust evaluation of the company's performance, going back many years. I find it difficult to think of a better niche where one could take a nice little earner for achieving bugger all, just stoking it up, occasionally with the same old predictions of future success, which are never achieved. I try to achieve professional standards in my business dealings, and would expect to be roundly castigated, or more likely, sued, if I took clients money, did bugger all, and fobbed them off every once in a while with baseless excuses.