Member Info for DonkeyOatey

"the loss making postage stamp of a mine known as West Kytlim and the ever decreasing palladium bonanza on MT is getting sold for multiple billions"

PRECISELY, you have hit the nail on the head there - a mining company, which doesn't mine and can't get a buyer for the small amount of concentrate which it has previously managed to extract, is somehow worth billions. You couldn't make it up! No wonder one reads statistics about a massive proportion of PIs losing all of their money in AIM.

I suspect, Max, that you are right! As usual with Arc and NvS, nothing is ever done according to the stated timelines.

Most misleading is the claims that Swedish Teachers' is selling because it is "forced" to - utter nonsense, and all anyone has to do is go to their website, https://www. sveriges larare . se/ and type in "Arc" in the search engine, and you will see their statement which says absolutely nothing about forced selling, and clearly states: "Uppgifter har nu framkommit som tyder på att det finns tveksamheter kring bolagets verksamhet" Anyone who understands the very serious deliberations which go into public sector related decisions in Scandinavia, will realize that this is not a throw away comment as one might find from the Americans. Clearly they have absolutely lost confidence in Arc management.

This is NOT "forced selling" by Swedish Teachers', it is - in their own words from their own website - because "information has now emerged that indicates that there are doubts about the company's operations". (What a pity that von Fool didn't dispose of the Tingo shares ages ago on the same basis, or actually conduct some adequate DD before taking them in payment for Arc's gold assets! But of course that would rather have assumed a certain level of competence, which - as Nat Rothschild said when NvS was at Bumi, he just wasn't up to the job. Seems leopards and spots spring to mind...)

Actually, without the "negative forces" shorting the stock as it went higher, it might actually have gone above 42p, in which case it would simply have meant that a lot of small PIs would've bought in higher and lost even more, and the despicable rampers who dishonestly pushed this up to a ridiculous level would've profited even more from their unconscionable behavior. The reality is that, as of today, anyone who was saying this was not worth anything like the ludicrous double digit share price has been correct - it current share price doesn't really reflect ramping or shorting, it is simply a market view of the disaster which is Eurasia Mining and its unsellable assets (I say unsellable since they've been trying to flog them since 2015 and not one single firm offer has been put to shareholders.)

“We think the potential for discovery is great. There is a lot more to be found in Zambia”

Of course the potential with the ZCB licences is immense, that's the only reason Anglo are interested!

The real, significant risks for Arc shareholders is the pathetic excuse of a management team they have - so far they've managed to get Anglo to return to licences which they were desperate to re-enter, they most importantly managed to lose the only significant balance sheet item Arc ever had - the Tingo shares, which have turned out to be a massive fraud (tell us, Nicky, who did the due diligence for that?? And when will you as "Executive Chairman" actually man up and take responsibility for this complete c0ck up?) Oh I forgot, the guy's too busy paying the management team millions for their unused options and their vastly over-paid salaries to actually communicate about important issues for shareholders.

So much for Anglo drilling with multiple rigs from day one and continuing through all seasons because of their competence and interest - not one single drill result yet!

What an absolute shambles of a BOD this company has. Utterly disgraceful. I would suggest anyone interested in Arc Minerals first research Nicky von Schirnding's past history at Bumi for themselves, where they can read about the complete disaster which unfolded there and how a rather well-informed shareholder, Nat Rothschild, made some observations of NvS which clearly indicated he was just not up to the task of leading a company. Definitely worth doing your own research before buying in here which such a character at the helm.

No doubt the future for Arc is:

- More placings to pay NvS and his bunch of merry men their ridiculously over-inflated salaries

- Probably bonuses and more easy options to the BOD for that old AIM chestnut of "delivering shareholder value"

- Continuation of the complete lack of accountability for losing Arc's only decent balance sheet asset (and let's be honest if a certain person hadn't screwed up the due diligence on the now fraudulently prosecuted Tingo shares, Arc might have been able to get away without doing any further placings.)

The Zambia licences are all but certain to deliver, whether the current Arc shareholders see any meaningful amount of that money is the real risk factor here.

I agree with you, Greener, about darkest before dawn, but that's about all - if the completion RNSes for the Neo and Serica farmouts (and their respective completions) didn't propel JOG's share price to a higher, better level, then why on earth would you expect that to happen from FPSO information, FEED, etc? As for LIEbour representing zero risk, I'm sorry, but from where I'm standing both they and the CINOs represent enormous risk (and LIEbour especially, since they are talking about removing the investment relief, at which point the 9p in the £ rational for the whole project for both Neo and Serica seems pretty shaky, just looking from the outside in!) I'm certainly glad I lighten up here closer to £2 per share, one of the very few share price mitigations I've ever managed to get right with JOG.

What an absolute disgrace, the guy just hides behind Yellow Jersey with no way of contacting the company directly - says everything about the contempt with which they treat their shareholders!

Very nice presentation skills, rather impressive for a first video.

Real issue though is the lack of short and medium term funding - no doubt a certain individual will still be milking the company, so raises will be needed to pay his dramatically overly high salary.

Not sure why he raised the copper price remaining stable or continuing to rise as one of his three risk factors!

Thanks for posting the video though, it was a great overview for any newbies checking out ARCM, although has a rather too rosey perspective on Arc itself (rather than the Zambian licences.)

"The key question is why do the Arc management not feel that Arc are good place to invest their own hard earned cash. I 100% know it has nothing to do with closed periods."

Spot on, MT!

Yes, I did sell one of my two shares :)

Personally, I would double my small holding on news that Benitz was leaving, since I think more experienced, capable leadership is exactly what this company needs. If his only role, post farm outs, is to be the public face of JOG trying to sell it as an investment to investment houses, then frankly he needs a crash course in how to give a presentation, because I suspect most GCSE business studies students would do a better job than he did on that recent youtube video someone kindly linked to.

Now now, Einbert! Benitz set up JOG and therefore is entitled to a large salary and easy options for the rest of JOG's existence, don't you know? After all, setting up this company wasn't "easy peasy"! And who are you to be criticizing Benitz on an anonymous bulletin board? Now be a good lad and run along and play, and keep your opinions to yourself! ;-P

I do agree, onthe6, that the presentation skills of Benitz are greatly lacking; I don't think I've heard so many "ahhs", "eeeerms" and "ummms" since the last time someone from CNBC asked QuidProJoe to disprove the rumours of his cognitive decline by telling the gathered press corps the day of the week!

LMAO foolmar, I just love the way you can't bring yourself to admit what everyone knows - that you're so desperate to show yourself as disinterested in what others say that you green box everyone, whilst finding almost daily justifications to responding to them!!!!

If I've got it all wrong, I'm all ears to hear which facts I got wrong? :) (No doubt this will be one of those occasions when you use your green box excuse to ignore the fact that you've nothing factual to point to.)

Sadly I guess you're just still sore and bitter about having held this pup all the way down from 6p to 2p now! Yeah you sure played that one well, foolmar!!! Thanks for the laugh though buddy, I always enjoy that you give us the layman's perspective on investing.

LMAO! Who cares? Strange, you seemed to care very much when you were telling us all "What "says a lot" is the fact that the first question they feel they need to answer in their FAQ is why a pension fund would own shares. Capitalism clearly not their gig."

However, I do agree with you on one point - clearly they don't understand about the great capitalist opportuniy of buying shares in a company and losing money all the way down to 2p!

If Arc Minerals is your idea of a "money-maker" you must have the charts upside down, chum!

" I don't think (based on how they monetised their last share sale) that many shareholders trust our BoD"

Amen.

"Thanks for the lecture on the sheer simplicity of setting up a NS E&P player on a budget of nothing" ??

Perhaps you could point to this "lecture" which talks about "simplicity" of any kind in "setting up a NS E&P player"? I'm not sure where you get this simplistic idea that anyone has suggested this was "easy peasy".

"They will have considered at all times what steps to take that are in shareholders' best interests."

LMAO are we actually talking about AIM here? Could you perhaps point out an AIM company which exemplifies this approach of considering "at all times what steps to take that are in shareholders' best interests"? Would perhaps the activities of Trap Oil's former leadership team, especially towards the end when they took their much reduced salaries immediately in cash, be a good example? It being AIM, I know there'll be no shortage of examples of selfless director behaviour putting the interests of shareholders first.

"Who are we, as keyboard warriors on a blogsite like this, to challenge their decisions"

Shareholders, that's who!

"Names and salaries please."

I believe a (half-hearted) suggestion was actually made in the very next sentence to the one you quote! Salaries....hmmmm... that's an interesting question, I think it's more a question of what activity is to be undertaken once the Serica farm out is completed and the remaining paperwork is completed (which I highly doubt is CEO activity.) With farmouts and FDP completed, what demanding work do you anticipate needs doing by the JOG team?

Perhaps you could try turning the situation on its head for us and suggesting what you think JOG's leaders will need to be doing from 2025 onwards which will justify millions in shareholder cash heading out the door in salaries (and bonuses, no doubt, we've yet to hear about how highly they're going to reward themselves for achieving the farm outs, since apparently that wasn't what they were paid salaries for!) Or perhaps the view is that since Benitz was one of the founders he's entitled to an inflation-busting salary (with bonuses) for life from JOG?

Because my perspective, simplistic as it may be, is that JOG is all or nothing based on the GBA - if Neo and/or Serica decide 'No' at the point of FID, then all JOG shareholders will have left is the cash in the bank, and we all know how well that turned out for investors in Trap Oil.

"Are you illiterate? Who is St. Petersburg?"

If you want to talk about those who are illiterate, can I suggest that you first learn the correct Oxford rules for abbreviations and punctuations? You will then realize how illiterate your "St." question makes you look!

MPO818, I've been saying similar things to people in private for a while now.

I've no objection to paying management for delivering shareholder value, but most of the current market cap simply reflects the money investors have ploughed into the company over the past years.

Regardless of the price people paid for their own holdings, I just don't see how there is any legitimate need for Benitz and the people who were drafted in to do the job he was (apparently) unable to do, now that the farm outs are done. If the company isn't sold quickly, then I think there needs to be a dramatic culling of those who collectively are draining about a million a year in shareholders' cash for their salaries (and, no doubt, we will see Benitz needs a large bonus for delivering at the very bottom of his forecast farm ins, behind schedule and despite the fact that he couldn't actually get the deals over the line himself.)

Buchan looks like a fantastic asset, and hopefully the unions will persuade the numbskulls who lead the gvmt-in-waiting to back down on these punitive NS measures. There's no doubt in my mind that Benitz had a role to play in bringing the company to market, but he's no north sea heavyweight that's for sure, and I don't see what value he adds to the company these days. As I often hear people in the investment world say, nobody's interested in history.

The only bit of JOG history which I think is relevant is that if there's no sale of the company in 2024, then I think the whole leadership needs sacking to conserve cash, and replacing with someone capable and who knows the industry well - perhaps Landsdell could be persuaded out of retirement for a part-time care and maintenance role until the oil revenues start flowing in during 2026. (I always felt that the wrong founder was shown the door when RL left and we were left with Benitz.)

" And, given the current valuation is apparently such a gift. Ask yourself why they are not doing so."

I think the fact that a large and very stable institutional investor is unloading, whilst at the same time talking about their serious doubts with the structure and management of Arc, says a lot.

And the fact that the insiders never reach into their own pockets to buy shares in the company, despite them being described as so vastly undervalued at much higher prices that where it is now also tells you about the lack of faith the leadership have in their own.... leadership!

Arc Minerals: a "value proposition" where none of the insiders are even interested in the supposed value!!!!