Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Looking at the Alex B CV it would appear that we now have a serious heavyweight on the BOD who will have a reputation to maintain. This should give us shareholders confidence that the level of communication will improve to the appropriate level as we deal with all of our excellent assets in the coming months.
As I have previously raised concerns about our subsidiary company White Fox Resources, I have put forward a question for the session. It may well be straight forward but I would like to be sure that 49% of the value of one of our Greenland Assets will not go elsewhere.
Hi Kat
My question for the Alba Mineral Resources Lrd Q & A is :-
White Fox Resources Ltd is identified in the Alba Accounts as a 51% owned subsidiary. Could you explain :-
a) What Assets does it hold in Greenland?
b) Who owns the other 49% of the Company?
c) Have those shares been paid for?
d) What was the Debtor of £49 shown in the 2019 Accounts.
e) Will these Assets form part of the NewCo?
f) Why does Companies House show that Alba own over 75% of White Fox Resources Ltd.
The news this morning makes it even more important that the ownership of White Fox Resources Ltd is immediately clarified. Will ALBA Shareholders get 100% of the benefit from this IPO, or not??
The records at Companies House for White Fox Resources Ltd indicate that ALBA held 100% of the Shares on Incorporation, and that they still hold at least 75% of the shares, which makes the information contained in the ALBA Accounts over the past few years of only 51% ownership a little bit puzzling.
As a long term shareholder, with no warrants at all, I share the frustrations of others waiting for projects to come to fruition, but it is apparent that RRAL will come good sometime this year, probably because of the drive and influence of our JV partner, POW.
We all know that AB has a contractual time commitment to POW and it is probable that their recent progress in DRC was down to his involvement, so it is evident that the PJ influence has probably boosted the AB desire to get things on the move.
The BOD of RRR has let down shareholders many times over the years by failing to keep them informed of the Company's activities so is it possible to galvanise RRR by persuading PJ to engineer a takeover by POW, then at least we would all know what was going on.
The records at Companies House for White Fox Resources Ltd indicate that ALBA held 100% of the Shares on Incorporation, and that they still hold at least 75% of the shares, which makes the information contained in the ALBA Accounts over the past few years of only 51% ownership a little bit puzzling.
Reading Orion10, it is evident that hindsight is a wonderful thing BUT, we must move forward.
On the assumption that HELPFUL & LONGTERM who seem well connected to the BOD are not, but are aware of, the Mr Topham who holds 16% of the shares, is it not possible for them to put forward a strong candidate for the Board, who would provide the blinkers that AB needs, to bring these projects to a fruition, for the benefit of ALL Shareholders.
Be careful what you wish for.
There is a need to accept the fact that neither of the other 2 Directors of RRR would have the inclination, or the ability, to replace AB, and that for AB it is but a part time job that he enjoys.
He is committed to POW for 162 Days per year ( see P23 of the POW 2020 Accounts ), is entangled with Jupiter, so it is likely that he has little time left whilst jetting about the world to quickly bring any of our Projects to fruition, although you have to accept that there has been more news recently than in previous years.
If he was not at the helm. who would shareholders want to have in charge ??
At this moment, I believe that we need to recognise, whether we like it or not, that we rise and fall with AB.
You are right Helpful to say that RRR need AB. I suspect he is the only person with the intimate detail and contacts to bring these projects through to fruition but.... shareholders need to be properly informed about all the corporate actions and decisions he seems to take on his own. With so many projects on the go, there is a need to bring a resolution to some of these, RRAL seems to be a good start !!
As some one who has had the need to "ring the bell" I am aware of my mortality and RRR should be aware of the need to have a succession plan for AB as he will be a hard act to follow, otherwise we run a risk that we will not achieve the benefits we all require.
As shareholders we all look to benefit from our investments, however long we have been invested in RRR. GLA