The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
In his defense, K3 concede that he has never been right in the past. But joking aside, what has gone so wrong that from the zoom session to now they have run out of cash again…
Safety, no comment on them going back on their word and paying supplier in our shares and diluting us…
GIT, the problem is two fold, first is the pattern of behaviour from senior management that makes it hard to trust and have faith in any of their answers and second a nagging feeling that either they can’t add or something unexpected arose which meant they are short of cash. It just doesn’t instill confidence in them. I sense, unlike before, you are getting fed up with their behaviour and actions.
Yes I have but how many weeks ago did they have the video session where I gather they said they had no intention of further dilution at T2 stage, where you on the call? Is that what they said. I know they need cash but then why make that statement ?
As we only get half truths out of them it's fair to challenge them.
Still issuing shares to creditors….this is one of the things I detest about this lot, they gave the impression that there would be no further dilution at this stage and they promptly turn around and dilute, safety, GIT, please feel free to explain and justify this behaviour….
What do people think would be production numbers which would satisfy them that we are really on the road to recovery and meeting our expectations for this quarter (this is different from the guessing game)
Or just mine not refreshing
Rain was q1 2021
Agree with most of your observations but my understanding is he doesn’t take a salary, just consulting fees, which presumably gives him a tax upside somewhere.
What is evident is that in addition to delivering consistent, higher levels of production, our debt situation needs to be addressed (most likely in Q4, if production levels increase and are sustained)
What are you prattling on about, I had issue with the claim that a company in the business of using other peoples money is the same as a private investor. As for what they claim, the reality is that whilst we all wish to make a profit, they do it for a living so my point is that they will hopefully have more expertise than us and so may do a better job than some of us. To make it simple for you....I am happy they are now shareholders....
I beg to differ, they do this for a living with other people's money
Ok...low level of debt? Strong management team (Pablo possibly, MM has lost credibility)? Look whilst it’s it’s great that the vultures are happy to pick at our still alive body, I mean it’s good to see professionals see a great opportunity, it is sad to see how many shares are now out there and am resigned to us reaching up to 150m shares before I see a proper return on this (remember Atlas hasn’t finished with us, the warrants in addition to BR’s 5% )
Figures...give us figures so we know that unlike the past few years you haven’t stumbled again
They published production and sales figures for May...just saying...
Put us out of our misery....let the other shoe drop and we see what impact it has on our sp and allow us to move on...
This is a valid question, MM has track record of saying these things but honestly, if there really hasn’t been much traction on it, it’s just dirt in the ground and only 100,000 ounces of it, without the requisite licence. He has gotten track record of doing bad finance deals and so wouldn’t surprise me if he does sell it cheap but let’s hope he doesn’t.
Whilst always appreciative of compliments I feel it important to clarify a couple of points. Whilst I wasn't on the call I gather that Pablo said that the flooding issue was planned to be addressed but appears the rain beat them to the work they had planned to do. Whilst there are many issues I have with MM's behavior (PR, charitable extension of warranty, mining in an area which was different than that planned without having done the proper due dilute that would have shown the oxidation) he is still delivering an operating mine that providing nothing else goes wrong will be world class. So I am unhappy, I would get nearly as much return as I would have if God wasn't against me and MM had made better decisions but I wouldn't just slam him for all that had gone wrong and whilst he wil get a big upside if we are successful, he has put over 300k in within the last year.
So here is hoping for a better second quarter and no more nasty surprises...Atlas converting isn't a surprise...
Fresh hell Wres has to bring us this week....that was for all those who proclaimed that they did not wish to be out of it this last weekend xx
GUG, what is it you do for al living, other than be on this board
Hug, we are undoubtedly still in a precarious position. Combination of screw ups by the company and acts of god along with useless contractors have put us in this god awful position. Ultimately us LTHs shareholding will be more than halved as compared to 18 months ago as a result.
But providing (and its a big assumption) nothing else negative befalls is, we have derisked to a point that they just need to show genuine increases and no more screw ups for the next couple of quarters to allow them to refinance and for the sp to reach a multiple of where it is now. Will mean that a lot of us are still under but that is different to all the doom and gloom you are portraying.
Targets in this company have to date been an exercise in futility. Furthermore, If only I had a penny for every idle speculation based on figures pulled from every orifice I Would not worry about the sp as I would be a multi millionaire. Only proof are actual numbers. Agree nice and sensible thing to help our pathetic sp would be month figures. Not sure they will but let’s home.