Member Info for DonkeyOatey

Yes, you're right he doesn't very often contribute anything even remotely truthful. More importantly the failure of the board to act professionally and capably is a much bigger issue for ARCM shareholders than the current and/or projected price of copper.

It's quite clear from the failure to say anything to the market about the complete Tingo fiasco (and what an absolute debacle that was) that the management have nothing but contempt for the market and their own shareholders. Someone should be taking accountability for the complete disaster of losing $5m in liquid balance sheet assets, but as per usual there is a deafening silence from the "executive chairman" whilst he and his board friends continue to milk almost a million a year out of the company. Had they not completely screwed up the Tingo situation, there would likely have been no need for a raise recently.

Which leads to the KCB - it doesn't matter how bad the drill results are, it has one very useful purpose in providing justification for management to keep drawing their ridiculous salaries. So the KCB will be drilled for the forseeable future.

Anyone interested in an ARCM investment, should research the "executive chairman" here and his history at Bumi (the only real leadership role of note which he's had) and the utter disaster that was. Nat Rothschild, as a major Bumi shareholder, had some interesting insights to share in public about NvS's (lack of) suitability for a leadership role. None of that is me putting a spin on things, it is all in the public domain and very easy to just Google and research for yourself - I strongly recommend doing it before investing a penny in ARCM (mind you, at this rate, a penny will buy you a share! So much for all those 10-20x fantasies of the rampers from 2021 was it, it's been so long I forget!)

IF people on here are to be believed, then there really doesn't seem much point in bothering to ask questions of Schirnding, who supposedly told one person her there would be no raise - about 48h before they did a large raise! Perhaps those bothering to ask questions should insist on a close up view of Schirnding's mouth at the time, so they can see out of which side he is speaking!

"I care not for the shenanigans that have taken place in the past"

Really? I'm certainly of the view that past performance is no guarantee of future success, but I think if you don't research the history of the individuals leading the company, and how their "shenanigans" have shaken out in the past, then you are quite likely to be their next victim! But on behalf of the board, I thank you. (That is the same board which has practically driven Arc into bankrupcy in order to do this AA deal; sold a gold asset for shares in a Nigerian fraud and doesn't want to do talk which of them was responsible for the complete failure of due diligence; driven the share price down from 8p to 1p over the last few years; rewarded themselves with almost a million a year, every year, in salaries for delivering this failure; and now completed a placing at multiyear lows in order to buy back shares from the only institutional investor in Arc and to keep paying themselves the salaries they OBVIOUSLY deserve for delivering such immense shareholder value!) If that's the kind of BOD you look for when investing - bingo, you've just won the lottery because Arc Minerals fits that bill down to a T!

""I'm very confident that in 6 months time things will look very different" how many times have we heard this?"

Now, Peggy, you know as well as I do that this isn't quite true - every six months or so the share price drops 20-50%, and I think it is very disingenuous of you to imply that things don't look very different every six months!

Clearly there are some people on here who delight in losing their own money, and for that the Arc board should thank them; with many more shares in issue it will be much harder for Arc to get back to the prvious highs, I just hope that not too many newbies got suckered in around the highs. Perhaps a few of them will read this chat and realize that they need to do some serious research into the management here before investing (particularly the Executive Chairman's history at places like Bumi, the complete disaster and lack of accountability for the Tingo disaster losing Arc $5m, and the placing disaster after people on here were supposedly assured just 48 hours before hand that no placing was planned!)

Oh yes, I'm just terrified! lmao

Even hypothetical dead cats bounce, apparently, in the stock markets, hahaha

"Shorts clearly very nervous here"

Oh just beautiful! So, people who sold this short at 8p or 7p or 6p or 5p or 4p or 3p or 2p are supposedly "very nervous" now? WHY? They've had plenty of opportunity to more than 4x their money whilst this has collapsed more than 85% in share price! (I share your contempt for any shorters who have not already covered though, since they've had literally years to cover their ARCM shorts at a huge profit.) And I should mention that the huge profit they've made has been entirely thanks to the longs who were silly enough to hold this failing company all the way down from 8p to the current 1p.

I would guess that anyone who has ever shorted Arc Minerals has made a fortune, since it is sitting at multi year lows and has traded decent volume all the way down, so plenty of opportunity for shorts to close with a large profit.

Logic would dictate that the only people who are really nervous are the longs and the rampers who have watched their paper profits evaporate from 8p all the way down to 1p!

But apparently it's the mythical shorters who are supposedly terrified...

You don't seem to post much anymore, everything OK? I miss reading your contributions to FCM especially!

I wonder if there really is any point in betting the farm on a nickel discovery, when you see that HZM had 2xt1 nickel projects and can't get them financed, and is now basically about to enter into liquidation. I would rather we JV Molopo (if anyone's interested) and get on with the uranium, gold and copper assets.

Nice RNS now! I think it might be time for a large (for me) top up!

Paul, I agree completely about lithium - absolutely no interest in it, and the world is moving away from lithium batteries in the coming years so I don't think medium or long term lithium projects are worth thinking much about.

Pilot Mountain can clearly be dramatically increased in resource, what I am most interested in is Garfield, and look forward to seeing the magnetic bullseyes from the recent survey and hearing about future drilling plans.

Paul, I absolutely agree with you that it's not totally stalled Garfield, but imagine if the USG got their finger out and handed over a few million for Pilot Mountain exploration, we could then apply all the rest on Garfield.

Personally, I've no interest in a strategic partner for Pilot Mountain, I just want to dramatically improve the resource, and sell it off to the highest bidder. :-)

BUT it IS holding up proving up Garfield, since the grant funds could be used to Pilot Mountain and then the raised funds directed to Garfield, which is a massively interesting copper play, especially since it's in a mining friendly jurisdiction in the USA.

NorEscO, I doubt that Simple Simon will be leaving any time soon, s/he seems pretty desperate to have something to say, no matter how irrelevant and meaningless!

"The JV is sound. The problem is the Arc BoD - their greed, incompetence and misinformation. You yourself point our a new wrinkle. Anglo surely must have plans ready for the drilling season which is imminent. So where is the 'rich news flow' that Schirnding promised after the JV was signed?

The fear is that even if value does accrete, Schirnding will somehow blow it for retail holders."

Absolutely spot on here - for me there's no question that Anglo will find the big deposits, assuming they are on the Arc licence areas. The realistic outcome though is that Schirndig will manage to screw it up for investors - he seems to have come out remarkably well personally from the recent destruction of share price, allowing him to buy and issue himself and the other placees warrants at absurdly low prices. So much so, one might almost think he did it deliberately.

Anyone interested in Arc as an investment should research two things:

1. NvS and his dreadful history at listed companies, particularly Bumi

2. The complete loss of the only significant balance sheet asset, the Tingo shares, which turned out to be utterly worthless, and there has still been no information from the company about who was responsible for the incompetent due diligence on the Tingo deal.

Anyone who actually has any faith to invest in Arc after researching the leadership here, good luck - caveat emptor.

Yes, Auc1, they theoretically can. But who would be interested in buying, when they know they will inevitably end up a minority partner at the mercy of Glencore? That is why, presumably, South32 wanted to buy all of Stonepark or nothing.

Nothing for it but to wait for G11 to prove up Stonepark and PG West in their own sweet time, and then we may see an offer from Glencore once they've agreed a buyout with G11.

I think we ALL agree with you, DU, that the share price is battered because of the c**ts in Downing Street and that their actions, and the actions of the incoming LIEbour gvmt, will finally destroy the NS O&G industry. (From my perspective, the industry themselves have been complicit in this, since they refuse to man up and give a strong response in their own defence, with the typically apathetic British attitude of, "Oh, it'll be alright, I'm sure they don't mean it; have a cup of tea.") Sadly we must deal with the reality we have rather than the reality we wish we had. I only hope that when NS production starts to fall off a cliff that the Iranians close the SoH, and then I might take out a full page advert in the Communist Comic saying something like, "Can't afford pay your heating bills or fill up your tank? Dont blame the c**ts in Downing Street for doing what Joe Idiot-Public said they wanted, look in the mirror at the tw*t who sided with the Greenies - you're now experiencing EXACTLY what you said you wanted, the demise of Britain's Oil industry!"

LOL, you'd better be careful what you wish for - right now, the share price is much closer to less than 1p than to 10p+!!!

I see Richard98, aka The Sewer Rat, is back - this time he's telling everyone how awful the EUA BOD are; a markedly different tune to the one he was piping some month's ago about how anyone insulting the best BOD on AIM was a sewer rat!!! Good to see you true colours, Senor Sewer Rat :)

One has to wonder if the only period of self-realization in a certain fellow poster's life (no matter how short-lived said self-awareness) was when s/he was creating his/her LSE username!

"But the true tragedy is right here. So, so sad."

For once I agree with you! It is always very sad to see PIs lose their money and time, and get screwed over by boards which pay themselves millions each year and deliver only shareholder value destruction.

Just remember that a certain "Executive Chairman" refused to buy shares in his own company for many months after the announcement of a supposedly transformational JV; it was only after his unbelievable incompetence had driven the shareprice down more than 50% from when the deal was done that he decided that multi-year lows were the optimal time for........ a placing (in order to pay his own and his board's vastly inflated salaries, on and to use about 1/4 of the money to finally buy back the Swedish shares) and finally decided to put his hand into his own pocket for once (rather than shareholders' pockets) and actually buy some shares at multi year lows! So his actions in destroying the Arc shareprice resulted in him picking up twice as many shares for the same money.

Were this the main market, he would have been forced out for his litany of failings and questionable actions; but because it's AIM he just continues paying himself more in a year than his entire career justifies.

But don't worry because you've supposedly not been diluted!!!