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Yeah the Grant prediction did make me chuckle....
It is cautious because like everyone else I have been let down countless times, for numerous reasons, but I also don’t criticize for the sake of it or because I have any desire to lower my own value in my stake. It has only been a month and if the last two quarters are anything to go by, a month is all it can stand for before it stumbles and falls so I hope they do give out more data at the end of May, to show that my cautious optimisim hasn’t once again been misplaced.
In the meantime, Atlas is no doubt rubbing their hands at their great fortune of having us in this position.
Shard forecast for Q2 was around 110 tungsten and 45 tin. If we can do 60 a month like this month and 20 tin, we will have 180 and 60 for Q2. It maybe possible that we exceed q3 figures by end of Q2. Now Wres being Wres, we should expect something else to go wrong but if it doesn’t, it will make a mockery of their numbers.
Does quarter to date mean 1st April to 23rd, with another 20t coming, so 60t in one month of tungsten, this is clearly better than the whole of the last quarter. Would have been nice to have had another shipment of tin this month too.
Welcome to Jesus to the company.
First 3 quarters of 2021 look pretty p### poor. So to me it indicates that we should have little expectation of any real sp rise till next year, unless Regua (you know, the one we borrowed all that extra money for to get it producing) does something. Forget about gold, MM has. The Grant wouldn’t move anything (btw the expectation from 15/01/21that we will get it in H1 2021 is silly and should be read much like other expectations that MM has proved in the RNSs, no one in their right mind should assume any such thing as we have no control over it and with the state of Gov’t finances at present it is wishful thinking, just look at all the other times they were “expecting” it (this one is down to Shard wanting to be optimistic).
Many thanks, I recall their last prediction, let’s see if they can deliver on a surprise free quarter, albeit with lower ore concentrate.
May I ask where you got the report from, troajan and GIT, have you seen it yet?
So sorry you came to this conclusion but after years of over promising and under delivering, whatever excuse they wish to rely on and we can’t even confirm them all, I understand how much it hurts. I can only wish you the best in the future and better luck. I for one will never invest in another MM show as when you lose faith in a CEO it is foolish to put fresh money into whatever he does.
Think it’s the last two words you spoke...”Who knows?”
If that was the case, why wasn’t this apparent 3rd March when he made his infamous prediction for Q3. Surely by then it would be evident. It’s ok Safety, to be fair to you Troajan, GIT, no one knows, it just doesn’t sit right. I am sure a brave soul or two will raise the question, just hope they wouldn’t be fobbed off and will hold their feet to the fire as I really had hoped that surprises would have stopped by now (not saying all surprises are their fault, just that we get past this stage of Mr and Mrs **** up visiting us so frequently)
Thanks, you are right, based on prior failed aspirations, hopes, expectations, desires he has expressed I will aim for December (after all it was only 3rd March he expected to have wonderful Q3 figures, this isn’t being flippant, just honest that there is a pattern of results between what he says and what transpires, regardless of whether it is wholly, in part, or not at all related to the decisions made and actions taken by the BoD. BTW, any thoughts why the Ore concentrate was so much less than expected in Jan 2021 or based on expectation on 3rd March?
GIT, any thoughts as to why we suddenly discover in late March that Ore concentrates are an issue, when they weren’t in Jan when 24/7 was announced or even 3rd March, when MM expected records to be smashed (bearing in mind how little came out in the Quarter in the end and assuming they were still producing from 3rd March to 31st and he must have known production numbers up to 3rd March, when he made his announcement.
Troajan, genuine question, why October and not say end of December, is there a source for this or just a gut feeling/wishful thinking?
Leave the playground responses to the children....
That sentiment has been expressed so so many times that whilst well intentioned...seems pointless. We are just fed up to the back teeth with acts of God and acts of incompetence (let's not kid ourselves that they have messed up numerous times and we haven't been made aware of it. Mining in an area that the proper due diligence wasn't carried out a year ago is an example. If it had they would have discovered that it was unsuitable and not proceed to invest time and money drilling there. Similarly the lm bringing in new management is normally indicative of things not being right.
Either way I have stopped asking what else could go wrong and stopped thinking that a corner has been turned. Still believe I will get my money back but the opportunity cost of keeping it here this long means that net net I am still on a loss and the multiple, if it happens, from there will hopefully just remove that "loss".
Let's see if they announce their world famous Q&A session. Let's hope people ask them tougher questions and hold their feet to the fire about what these Ore Constraints are that are causing us to miss out on another 6 months of 24/7. I suspect it may have to do with the aftermath of the flooding, if so, why couldn't they simply say as opposed to leave it so people speculate
Agree, many things could change safety...I could win the Euro lotto and marry a supermodel....the possibilities are endless. So far all the positivity has proven to be misplaced. Without a communication strategy that makes sense (say bothering to do some forward planning so you have the Q&A within days of these abysmal results rather than sometime before the end of the month, which could have helped manage investor expectations and impact the so less than it has.
The MM fan club will never hold MM to account on any front as they blame everything on everyone else and not the CEO. The market is concerned by the statement made around ore constraint...why could they not explain, briefly what these ore constraints relate to (which we were unaware of in Jan when they made their statement about 24/7 in April). The market is concerned about MM's continuous failure to meet his own expectations.
“Ore constraints have necessitated a delay in the planned introduction of working on a 24/7 basis until October 2021.” Is this as a result of the flooding causing ongoing problems as in January they were hoping for 24/7 or is there something else that has changed since that January RNS. In other words what is causing the Ore constraints. GIT, Trojan, Safety would also value your thoughts to balance any derampers
But that is not how a professional CEO of an Aim company should act, when he says something people don’t read it as an aspiration. If he says he expects something it’s not like me expecting to win the lottery, bearing in mind it was 28 days between his expectations of higher production figures (post rainfall) and qend, the CEO getting it so spectacularly wrong is worrying and means that his word cannot be relied upon, hence our sp bouncing along at the lowest ever prices, when we are in production.
I appreciate there is a fair amount outside his control but he pick3d the EPC contractor and he has consistently over promised and under delivered (I gave two examples around the 24/7 working in April being pushed back without explanation and the production forecast he gave 3rd March vs actual) at some stage there should be a recognition that as captain of this ship....he is ultimately responsible.
21st January “During the quarter, the plant continued to work a four day week, moving to a five day working week in early January 2021, with a target to move to a seven day working week with effect from April 2021.” Now it’s Q3 or Q4, given that everything is supposedly now working why the delay of 6 to 9 months? No explanation given, just shifted the goal posts....great management once again