Member Info for DonkeyOatey

I think that might be a little optimistic. I think we need the Ithica boys until FDP and second farm out. What I don't understand is the need to keep JAB, at all if I'm honest. From my perspective he's a liability rather than an asset. A friend of mine who works in investment banking says they let the wrong man go when they dismissed Lansdell, and should've instead kept him and given JAB his marching orders (since Lansdell was the oil man and brains behind the outfit, and a very capable businessman and former Trap shareholder was responsible for the continued existence and availability of the Trap listed vehicle for the RTO.)

It seems to me that the desperate need here is for (a) supportive institution(s) to absorb the available pi shares dripping the share price down. The neo deal is cracking and the project viability has been confirmed by their willingness to consummate the deal despite the best efforts of the idiots running our country. The brokers say 12.5pc free carry is worth almost triple the current share price. So why not invest as an ii? There's little doubt the economics work, the oil is clearly there, there will be a consummate pro firm running the project, I can only think they lack confidence in the management. It was said on this board that JAB was presenting to hnw and insti potential investors, so what happened? It doesn't appear to have done any good! I'm certainly not negative about the mt or Lt here, but it seems obvious to me that JAB is a liability at this stage without any required skills. Apologies in advance if this upsets anyone, it's just my opinion and perspective.

The share price is falling because of general market sentiment coupled with a lack of belief that NvS will deliver, just as he had failed to deliver on other occasions with Arc's assets, the best example being the gold assets which he has traded for shares in a company which looks more and more by the day to be verging on a fraud, judging by all the media articles around Tingos lack of assets, lack of revenue, banks denying the claimed payment relationships, factories which are just acres of undeveloped land, etc. Basic due diligence should've flagged up a lot of these things, but will there be any resignations at arc if it turns out they've been sold a pup? I will let you judge for yourselves coming from a chairman who said, months ago, that the Anglo deal would be done and dusted "in a matter of weeks not months!" His own words say it all about the credibility of NvS.

Another poster raises a very good point about the CEO, in my opinion. JAB doesn't have a successful track record for institutions to rely on, he isn't an oil man, and he has an unfortunate history of not delivering on his own timelines. Would it not be in the best interests of the company, financially and operationally, to replace him and put Les Thomas in place as acting CEO, and save some money for the coming years? I'm just suggesting it as a discussion point for anyone who is, like myself, interested in the practicalities of aim listed companies, so half my interest in the suggestion is theoretical as a general rule rather than being specific to Jog. I do, in general, have the view that many aim businesses are over staffed at the top end by people earning salaries which are disproportionately high when compared with the value they do or do not deliver for shareholders (as measured by share price performance.)

Really hope for everyone's sake that this is sorted out today to avoid a suspension for violation of aim rules. I do think it is absolutely taking the pi.55 to leave it to this point!

You're ignoring mkt cap, f79! If arcm was at POWs mkt cap, I'd happily bung in the same amount for a risky bet. But until the aa deal is final you can't count the money yet. Once it does, I absolutely agree that the mkt cap will be worth more to the tune of the cash. As for spending on Arc's licence, if they don't find T1 assets it won't be worth a penny to arc, whether they've spent 88m or 88billion! But it absolutely indicates confidence on the part of anglo. Once the deal completes it will be worth a few million more than pow but not even the current mkt cap. Not sure why my opinion upsets you so much, I've certainly made none of the personal type comments which have been directed at me here.

Is there a telegram group for POW shareholders to join?

If the team from Ithica are the ones who actually got the deal done, then what's the need.to keep JAB? And of JAB is the reason the farm out was done, why have we wasted precious cash resources on the Ithica team? At the risk of sounding ungrateful, it seems to me that we don't need both parties in such a small operation, and that costs could very well be cut and cash preserved by letting JAB go. And before anyone says we aren't short of cash after the Neo payment, I know that, but that cash actually belongs, in my twisted way of thinking, to the shareholders, and it isn't an automatic right for anyone to use that money to pay salaries if they are not essential to the success of the company. Just my view.

Actually, you're quite wrong about that, because if you look at pow you will see it proves exactly what I have been saying here!

Pow has a mkt cap of about 15m with several million of that in listed assets on the balance sheet. I think 5-10m of mkt cap for unproven exploration is fine. Hence I think arcm would be worth a punt if the shares come down to the single penny region, as it will have about ten million as the exploration component and perhaps a little extra for the Tingo shares, assuming they actually really do exist as a genuine company (which is looking rather questionable from the recent media reports surrounding the company.)

I also happen to know that salaries are a LOT lower at pow than they are at arcm, so I regard that as a plus too, not to mention that the pow management team actually have a history of success in their previous positions. Bumi??

Surely, Mr Alstein, if a bid was not adequate for shareholders we will just vote no. Or it might flush out any other interest and get an auction going. I would rather we went the FSP route and get a bank involved to drum up the most interest. Again, though, my background is not financial, banking or accounting, so I do not claim to know if that is the very best approach. But I have read about it happening with several aim shares which I follow.

Not just my case, Mr butter, but most of the market as well, it would appear, judging from the 52w low share price. My suspicion is that the deal never actually closes (a variety of reasons are possible) and/or that no major discoveries are made on the licence areas. I also anticipate the kcb will just be a job-creation scheme for the usual suspects which never leads to anything either. If it gets down into the 1s I will personally be tempted with some beer money for a bit of a gamble, but the way some people talk on here you'd think they've discovered several T1 deposits already and just need to crack on with building the mine infrastructure.

I said something rather similar myself, alsoppc, just a few weeks ago. They never did go down the original pathway of late life producing assets with easy tieback arrangements, and the cynic in me suspects that this will suddenly re-emerge as the plan once the GBA is all squared away and certain people need to retain their jobs (and in these difficult times, who doesn't?)

Personally I would like to see the whole lot put up for sale sooner rather than later, and if our company is going to go all the way to production in a couple of years, then I would prefer to see the headcount reduced significantly, the big salary jobs replaced with a skeletal caretaker team and just wait for jog to be banging out great numbers in the p&l and paying us dividends. The current management have all been quite adequately rewarded with salaries and share options, the way I look at it, and I think reducing admin expenses and just waiting for the revenue to flow would make it more attractive to investors. If we are to continue paying such decent salaries, then I would rather have someone for that money as CEO with a track record of success and who inspires confidence in the markets and institutional investors. But I'm no corporate type, so am open to being corrected.

Most of what you say is spot on, except for the part about Anglo funding Arc's exploration - the deal isn't done yet, otherwise it would've been announced, and indeed the wonderfully amazing NvS said some months ago that it would be done "in a matter or weeks not months"! Looking less and less likely to close imo, as Anglo have lots of other possibilities all over the world, arc is a one trick pony unless you can those great kcb drill results, oh never mind, they are too busy to send them for analysis because they've been so busy doing a few weeks' worth of work over the last few months.

Yes, actually now you mention it, I think they have probably been doing absolutely nothing, not for one year but for two years. It would entirely explain Del's list of items from the last two years which have completely failed to materialize.

Nice to see you post something accurate for a change, matey. :)

Reliable statistics out of China are pretty hard to come by, you do know that, right? But it's pretty clear from the glimpses into their real estate market offered by their banking crisis that they massively overbuilt on housing for many years, so much so that there are entire cities with no one living there. Yet, you might argue.

I doubt it will decimate copper demand though, since India and Africa still have billions of people without electricity infrastructure/supply or cars or phones, and the demand for copper for electric cars and charging stations in the rWorld should keep demand levels decently firm even in the event of a recession. In fact it is likely imo that the lack of availability of base metals may cause a recession from the massive spikes in prices caused by demand coupled with a lack of supply. But that will only be short lived, since ever dwindling supply will mean higher prices are here to stay, and so standards of living may well have to drop a little in order to accomodate this dramatically higher input cost going forward.

PS i don't think ian_ had a mobility scooter, just a fiat Panda (although the one could easily be confused with the other, on many metrics.) I suspect he's probably busy with his breakfast meetup this morning, which I believe was on Thursdays, followed by a zoom meeting of the Panda Owners' Club, of which he was I believe President.

That's hysterical, hopeso! Good to have a laugh and a little cameraderie. Although I suspect cheesewhizz is probably more likely suffering from scirosis of the liver after all that rum, or perhaps suffering with some terrible std caught from septic Lill!

The BoD appears to have utter contempt for the investors in the company. Still no announcement of the AGM, annual report, what has happened to the missing millions from the rosgeo JV, the JORC which was due shortly (some years ago!) The list of unreported information and missed deadlines is never ending. Time for anyone on the fence to face reality, and ideally also submit a report to the serious fraud office about the antics going on at Eurasia.

Exactly, Layla. It seems as though jnr mining has been in a bear market forever, but that is normally a sign that we are nearing the bottom. We all forget how a bull market feels during these depressing times, but they do come around again. It's especially bizarre when metals are doing quite well. The biggest problem in a bear market is the lack of demand which means that the market makers push prices dramatically lower when a seller wants to offload a large position. I suspect that what will drag us out of this bear market malaise will be some m&a at higher than normal premiums. (Although I sincerely doubt it will be Arc Minerals or Eurasia Mining, both of which still appear to be overpriced in the expectation of a Hail Mary buyout.) Perhaps it will be a us domestic mining co taking out golden metals that does it? Wouldn't that be nice, to see some monetization of POWs assets and holdings. I imagine that it will be a dramatic upturn when it happens though, as all of the other pieces seem to be in place for a jnr mining boom: good metal prices, dramatic medium and long term undersupply of most metals, rising inflation, and even the tragic demand from the war machine.

Spot on about investor psychology, legalwolf. A wise man once said that the stock market is the only market in the world where, when the products go on sale, the customers run screaming for the exit! I've had a little nibble here with a few yesterday and today, so that's my beer money gambled for the month. I had a look at the coming IPOs and figured that, assuming they list in the 5-10m market cap range, then pow will hold the current market cap in shares in other companies, and I get the uranium exposure for free. I've no idea if it will go boom or bust in the coming year or two, but I liked everything I've researched about the management track record, and with a market cap which will be covered by holdings in other companies it seems like a fee-free way of purchasing a junior mining fund. Good luck to all.

It really won't matter how long it takes for the comp authorities to do their part, once that is complete they will just trot out their next excuse. From the email response quoted from NvS it appears he's already preparing people for delays/failure - it's a complex transaction, blah blah blah. As usual, all excuses and no delivery from this guy, no wonder his only real T1 role at Bumi ended so badly. Just so long as you keep paying this guy a six figure salary he'll be able to keep this ball up in the air.