Member Info for ElectricLion

As DDD suggested - keep a sense of perspective. Don't let the SP rule your emotions. Markets are often, if not usually, irrational - we must believe that empirically, or else we wouldn't be investors in the first place.

https://www.poetryfoundation.org/poems/46473/if---

book5 has always been obsessed with the land. But while he's been wringing his hands over the issue, and regardless of any quibbles with the remaining couple of percent, we have certainly acquired all the land for the plant at an absolute minimum, so construction can commence when we have the money. I'd be very suprised indeed if we couldn't get finance with the land we have now. Worst case scenario, the gold can come from Mestiza, Cacao and other areas. Even if we take his rumours at face value, they are views from the bottom, whereas it's the view from the top that we are most interested.

I don't bother much with ADVFN these days. I find it an inferior platform in general, particularly moderation, and the CNR board specifically is a bit of a write-off these days. Unlike 888, I don't think it's really derampers - at least I'd understand their motivation if it was. But what I will never understand is continuing to hold, and whinge, loudly and at length to anyone who'll listen, when you've long since lost any faith in your investment. Regardless of the success of your particular picks, that's basically anouncing to the world at large that you're a crap investor who is incapable of actually learning or moving on - not a good look IMV.

Like DDD, I don't think we have to look too far to understand the current slump, and it's largely not company-specific - or else we'd see every other company moving ahead, but it's a similar story across AIM and resource stocks even more widely ATM. We need the BFS - I do hope it doesn't take too much longer and then hopefully we can all start to look to the future with a bit more confidence.

Number of shares is all but irrelevent. MCap is rather more useful in any comparison. I gather GGP are doing a 20:1 consolidation soon.

Genuine question - the last raise was, at least in part, to ensure the umbrella agreement got across the line, was it not? If so, is there any indication on how much, if any, of that raise was actually spent in that endeavor?

lol. Bought back in cracker?

They tried nationalisation in '79. It didn't work out. There was no-one left who knew how to run the mines! Doh!

Whether you think that makes it more likely (they tried it once before) or less likely (once bitten, twice shy) is a judgement call, but it doesn't rank highly on my list of risks.

It's probably because of people like you ISA! lol

Seriously - think about why you're selling (or trying to). Then consider that other people (aka "the market") may be selling (or trying to) for the same reasons. Not rocket science.

Meh. If the warrants expire, it's a bit less dilution. Works for me either way.

Nonsense. Go look at GGP's 5-year chart.

I haven't. Maybe I should, although my thinking is, he couldn't say anything that the market doesn't already know, so I'm not sure what he could say that would satisfy me.

I don't think you need to worry about a low takeover price cf. MC, JM and many LTHs will not sell at 31p, or even 50p. The market will turn at some point, and we could be 50p again without lifting a finger, so why sell for less than that? Once it's gone, it's gone forever, no matter what the market does. We do have some agency in all this.

The bigger question, as Seingred says, is whether anyone will offer us a price that MC, JM and LTHs *would* go for, and that is indeed an open question.

Awax's suggestion intrigue me because there are few other explanations I can see for the 6-month or so delay in BFS. It's either a colossal f-up on someone's part (not necessarily MC's, but the buck does stop with him at the end of the day), or there's things going on behind the scenes that we don't know about. Things that are serious enough for MC to take the time, expense and trouble to explore thoroughly. We know that both MC and JM are not born-and-bred mining execs and would sell for the right price. If someone serious (and Rio is the only name that comes to mind at the moment), were to show a serious interest, he'd have to follow it up.

As far as finance goes, I'm far from an expert, but I understand the industry standard deal is 70% debt, 30% equity. Part of my reason for investing here is that MC's finance background and JM's contacts and clout will allow for a deal significantly better (less dilutive) than that. I don't know the details of Rio2's deal, but I'd hope that MC could equal it. I could be right or I could be wrong, but that's part of my investment case.

More generally, I'm getting the distinct impression that MC is really not that interested in PIs! Can't say I blame him either, and I am one! Perhaps understandably he seems more orientated towards potential IIs or even prospective purchasers, which leaves us lot rather in the dark most of the time. I guess we'll just have to wait and see, as always.

If what Awax suggests is correct (do you have "sources" Awax or are you just speculating like the rest of us?), then we may not need to officially prove up a large resource. One or two wide, high-grade intercepts may be sufficient to convince a hypothetical buyer that we're worth the price.

Are you generally bullish on the gold price then Seingred? You caution against assuming high gold prices (fair enough), but then say you're adding producers which will move with the gold price?

Personally, I have no idea what gold will do, and I don't mind admitting that! Therefore, whether producer or explorer, I figure you want a good safety margin of AISC to current gold price. That won't get you the best leverage if gold goes up, but it also won't screw you as badly if it goes down.

The curved ball of course is an offer. We still have no idea what's been going on in the 'data-room' or why the BFS is delayed, but as Awax suggests, those aspects may be related. Suffice to say, I think we can assume that MC and JM won't entertain an offer of 31p a share! Just because an offer is made doesn't mean we have to accept it.

In an ideal world, people in general and reporters in particular would refrain from commenting on issues they don't understand!

FWIW, I believe the actual mine build would be done by contractors, ironically enough, probably with overrun penalties in the contract, so once construction starts, it ought to run more-or-less to schedule.

I agree about the BFS though, it's not good enough just to pretend that everything's going to plan when clearly it isn't. A simple RNS to state the reasons for the delay would go a long way towards clearing the air and restoring a little trust.

Most likely explanation is that there is a meeting scheduled for this week, at which HAA expects the umbrella agreement will be signed. All indications are that he is confident that this will happen - I'm sure he is in regular contact with every member of the consortium who must have given him verbal assurances that they were ready to sign, for him to be so confident, and so all that remains is to make it official. No changes required, just a signature from each member.

The only reason it's gone down to the wire is because this particular wire appears to have been intentionally laid just after this point, by the MoM, perhaps precisely because HAA informed them of the plan and they decided to hold him to it this time.

It's now or never, and I'm sure all concerned are acutely aware of that.

Last week? Are you admitting you have several accounts? Since the one you're posting on right now is brand new...

"Monday, May 17, 2021 - 10:15"

I think it's been pulled. It's really hard to see how this is all going to turn out, and I'm not usually one for conspiracy theories, but there's some serious shenanigans going on IMO.

http://www.24hgold.com/english/news-gold-silver-the-second-best-time-to-buy-mining-stocks.aspx?article=994240570G10020&contributor=Investing+in+Mining+Stocks