Member Info for DonkeyOatey

"you are incorrect POW got diluted by the recent raises"

Do you even manage to tie your own shoe laces? If you don't realise that POW were diluted by the recent fundraises, in which they chose to not participate, then you really don't understand even the basics about how listed companies and shareholdings work!

As for this "fantastic work" - what fantastic work is that, exactly? Managing to sell off 250k in pathetically small, trivial licences which he claims "proves up the business model"? I see a share chart which has basically continued to fall to ever new lows, perhaps as well as not understanding how share price dilution works you also don't understand how a chart works? Try holding it with the X axis (time) running along the bottom left to right, and the Y axis (price) on the left hand side, going from zero at the bottom to about 20 on the top. Then you'll see the problem with Marc Sale's failed leadership here.

"They have maintained it, they just got diluted."

No, that's entirely my point - they have NOT retained their 23% holding, they're not participating in raises and just letting themselves be diluted. Since the largest shareholder in FCM doesn't want to participate in placings at all time lows in order to main their % holding, they clearly lack confidence in this. If it was the slam-dunk people imply, then surely large holders would be eager to participate in the placings to pay Sale's salary, I mean to retain their % holding.

Not sure why Sale needs to be paid extra to complete geological functions for the company when he's already hired as the CEO. I do not see people like Frieson at GMET submitting extra invoices for geological work (and he has delivered share price APPRECIATION for his shareholders! An alien concept to any FCM shareholders, since Sale only seems to be presiding over one-way traffic here, and it isn't upwards.) What will it be next, he answers the phone as well, so he needs to be paid an additional 30k secretary salary, perhaps he makes his own appointments and types his own letters, so he will need to also receive a PA salary in addition.

Absolutely lifestyle, clear as day.

Good grief not even POW want to maintain their holding here!

I said 5p Jonnielad - when there is a substantial enough bid at that level, fear not I shall be out of the poorly run joke. The leaders here need to take a good look at well run London listed firms, such as GMET. Their CEO takes a similar salary, is an equally capable geologist, and amazingly doesn't seem to think it's appropriate to then sell his time to GMET for an extra 4x his salary! The night and day picture between OF and MS is staggering. (Not to mention OF has quadrupled the money of his early investors - MS has stood by as about 75% of shareholder wealth has evapourated at FCM.)

Oh give it a rest with all this Barrick rubbish - just because you see someone onsite it doesn't mean anything at all! For all you know, he's like Marc Sale and apparently so underworked in his employed role that he's selling his time as a freelancer for multiples of his salary.

Could you please confirm where the company has announced a site visit by Barrick? Or are you simply talking about the nonsense being speculated because someone on Telegram saw a photo of someone onsight wearing the same kind of hi-vis vest worn by Barrick staff?

No wonder this is back down in the 3s.

You could be correct, Hawaii50 - when the sector no longer has to offer placings at a discount and with a the least a 2-for-1 warrant attached, and can actually do straight share placings even with a small premium, it would certainly spook me if I were a shorter.

Delighted to see so much buying and the price rising - please keep it up, and I can be outta here sometime next week with any luck

Why have FCM hired a CEO who apparently has so much free time from the CEO job that he can then sell himself back to the company for 200k a year as a geologist? Hardly an unreasonable, "ungentlemanly" question.

Puse, "what I see as a very comprehensive and professional, successful strategy by fcm" - are you serious? A company which has lost 80% of its market cap in less than two years is running a comprehensive, professional, *successful* strategy? Successful for whom, exactly? Clearly for Marc Sale, he's walking away with a quarter of a million a year whilst the share price collapses. If the company wants a full-time geo then they should hire one: why have they hired a CEO who apparently has so much free time from that job that he can then sell himself back to the company for 200k a year? Hardly an unreasonable, "ungentlemanly" question.

"Says a GMET holder lol"

What's wrong, Puse, are you jealous of a company whose share price has gone from 8p to 31p in the same time that FCM's have gone from 10p to 2p? Clearly those who invested in GMET recognize a set of quality assets and, just as importantly, capable management!

And if he's doing the geological work himself, why isn't he just hired as the company geologist, since his awful CEO leadership has witnessed the share price tanking from about 15p down to 2p?

You don't seem smart enough, Johnie, to understand the issue! Let me try to spell it out in simple words of limited syllables for your benefit: if Marc Sale knows competent people to do work on behalf of FCM, why is he not hiring them directly as contractors for FCM and FCM paying them? Why is FCM hiring Marc Sale's firm (and no doubt paying them a premium) to hire these people to do the work? And if that's OK, why stop there? Why do any large companies have administrative staff? After all, the VP responsible for administrative areas could hire the people he knows are up to the job, set up his own firm, and charge his employer a premium to sell those services back to the firm.

Love your comment about director participation - you'd have made a great Thor Mining investor back in the days when Mick would do a 100k placing (mostly to pay his own salary for a few months) throw in a couple of grand of his own money for the placing, and then claim he was fully aligned with shareholders! No, I bet you don't see the problem with that either.

Total nonsense, FCM should NOT be paying the CEO's geology company 4x his salary in fees, they should be getting outside firms to do the work. Then the process can be more competitive, and the firms held to a higher standard.

The more I think about it, the more I think those 25% of voters need to get together with a few others I know who are equally dissatisfied and we could get a new slate of directors.

So, they "proved the model" to such an extent that just a few weeks after selling off a couple of licences and taking a high interest loan, all in order to keep the lights on, they've now had to have a placing to raise 85k for work? Yeah, this is a cracker of a business model this is! Perhaps those 25% shareholders who voted against the resolutions at the AGM need to band together to call for an EGM to replace Knowles and Sale.

"Tg group far better discussion platform with no negheads"

So you're telling us that after watching the shareprice collapse about 80% that there are "no negheads" in the "Tg group"? Are you sure it's an investors' forum and not an echo chamber? How on earth do they silence the critics there who've watched the value of every £100 turned into £20? Oh, let me take a wild guess - they ban them?? lol, yeap, sounds like a classic echo chamber.

At the current rate of spending, about 2.5 years!

TNR: You notice how the market bought their horse5h1t explanation and the shares immediately rocketed back up to 2p.....? Hmmm, I guess not: the market knows there is something very wrong at Arc Minerals.

So funny to look back on a multiyear chart here to see this falling from 8p down to 1.4p today, all the while the rampers' chorus has been chanting how the share price is just moments away from massive appreciation! What a comedy! It appears there are too many people on here who aren't smart enough to see that literally all of the Anglo millions in cash will be heading straight for the pockets of NVS and his merry men, so much so actually that I don't see how they can even keep the lights on without another raise - since of course the cretin who accepted millions of dollars' worth of shares in a US-listed fraud (Tingo) is obviously worth giving millions to in salary and bonuses. I'm glad that I'm invested in well-run companies like Guardian Metal and Power Metal where the management pay themselves a fraction, literally, of what the Arc people pay themselves, indeed my GMET has tripled since I bought it - doubt there are many in Arc who can say that (unless they've had the intelligence to go short here!) I've still got the Arc shares I bought some weeks back for a small punt, but suspect that I may have to be satisfied with getting my money back on a spike here rather than making any real gains. Oh well, that's what well run companies like GMET and POW are for.

If this company isn't worth a minimum of £100m just on an expanded Tungsten deposit, then I will completely give up on junior miner investing. Put in a Cu porphry or two into the asset mix, and it could end up 6-700m market cap. A few years away, no doubt, but still exciting. And it can be done with almost no additional dilution once the Yanks provide grant funding.