Member Info for ElectricLion

Dude? You mean me? If so, think you need to take a minute to breathe, and then re-read my post.

Frustrated hyperbole seems to be turning into hysteria. Don't forget, you can always sell. Don't believe that "locked-in" or "you haven't lost until you sell" mumbo jumbo. That's not how real investers think. Honestly think some should, for their own mental health, regardless of what the SP does. Appropriate position-sizing will also help you sleep at night,

Gold up as well though, for the time being at least. $2000+ looks like a matter of when, rather than if. After that, who knows.

Only if there was price-sensitive news that the market was unaware of, I believe (assuming the rules on the TSX are the same as LSE, though they may not be). So I think all that tells us is that a deal had not been agreed by the 25th. Which makes sense - it would have been announced by both parties by now if it had been. Only thing is, I'm not 100% certain that it will be announced by either us or Calibre if our proposal gets turned down.

Just popped in to say... LOL

I don't know about the specifics, or the timeline, but over the time most of us have been here, it seems fair to say that what drives gold equities is sentiment. The gold price itself is a big part of that sentiment of course, but not the be-all-and-end-all. A few months ago CNR was comfortably in the 50's, now it's barely over 30p. Why? Did the gold price crash? No, but sentiment did. It's a fickle thing sentiment, but it waxes and wanes. When it picks up again, CNR will be back in the 50s without having to lift a finger. Calibre and others will rise as well. If CNR can put out some real news to coincide with that sentiment up tick then so much the better.

Chill austrochris. I agree, but ramping doesn't really help. Seingred will have your guts for garters! lol

BFS soon, should make things a lot more concrete. If the toll deal is going to happen at all, it'll happen soon. It seems likely that we have 5-10m oz in total, but until it's drilled (which takes time and money) it won't really be reflected in the SP or takeover price. If all else fails, we'll be in production ourselves in a year or two, and at that point it's a cash cow, as Calibre is now.

Check out his (or hers) posting history. A bit all over the place it seems to me. Also seems to me that 30p-ish is not the right point to sell out at, but WTFDIK.

Today of all days Noel, shut your mouth.

Gold could be over $2000 by the morning.

https://www.bbc.co.uk/news/live/world-europe-60454795

And I hate to be the one to raise it, but you may have got an (even) worse response than you might have had if you were male. There can be a lot of testosterone in some parts of the investing world. A lot of ego. No-one likes being told that they are wrong, but some will take it better from a man than a woman. To be clear, this is 2022, and that kind of attitude belongs in the stone age, but it may still be a factor none-the-less. I have heard that while there are far fewer women investers than men, that they are often more successful, as they do not tend to suffer so much from the desire to show off.

Social media toxicity combined with get-rich-quick dreams. Not good. Also see my post from the 14th about cross-ramping.

That said, spare a thought for those who have lost out. That poster you mentioned claimed to be all-in...

How many boards to you actually frequent Seingred? This one is better than most in my view. Apart from yourself, there's plenty of bitter LTHs around to keep things in check!

This is of interest to me, if no-one else.

https://www.sectorinvestments.com/about-us/

I believe that Jim Slater is the same Jim Slater, who wrote 'The Zulu Principle', which some of you may have read. His son, Mark Slater is a very successful fund manager in his own right.

* bit more

There are a number of reasons why many do not like others mentioning other shares, particularly when they are profitable.

Firstly, one considers the likely intentions of the OP. Most are poorly disguised cross-ramps - attempts to persuade others to part with their own funds to allow the OP to profit. Of the remainder, most are bragging of their success. Very few indeed are genuine attempts to educate or inform.

Then one must consider how such posts are received. In general I believe it contributes to poor mental health by rubbing salt into the wounds of anyone unhappy with the performance of their own picks, much like most social media in general. It fuels the kind of FOMO that causes some to gamble unwisely.

Please don't take this as a personal attack on either of you, it is not intended to be. Your posts are pretty mild examples of the genre in any case. But our words and actions affect others, and a more empathy in the world would be no bad thing.

Agreed.

I'm not sure whether a timetable is definately a part of the BFS, but I would certainly hope for something more concrete around then either way. The thing with estimating how long construction will take, is when do you start counting from? The finance is the obvious start date, but we already have a mill and site clearance done. 12-18 months remains, for me, the estimate (from finance) still, mostly because we haven't heard different from MC, but could be sooner if everything falls into place. Unlike some others, I still have a bit of faith in MC, and I'm sure he's looking at all the options.

I am now cautiously optimistic on the toll deal (which is a change of heart from the last couple of years). I may have read it wrong, but I thought MC was pretty bullish in the last webinar, but couldn't say much officially. We will see.

Do you mean me elgordo? It's not terribly clear who or what you are referring to. I don't believe my tone has changed much, certainly my strategy hasn't (for better or worse), although maybe the constant whinging on here is getting to me too! Generally speaking, low sentiment is often a good time to buy though!

Seingred, big players like JM don't just want paper, they want influence and to be the 'big cheese'. He's not going to get that at Calibre. Listen to the last webinar if you haven't already, MC clearly indicates that JM would prefer to sell out than own a piece of a producing mine in perpetuity. The price is the issue and in the same webinar MC seems to dismiss anything under a £1.

I agree that our build should be quicker. I haven't looked at their projections, but $520m gets you a big build, which will presumably take a while to put together. Our spend will be in the vicinity of a quarter of that.

Simms, we likely won't be paying a dividend for some considerable time, but that's not a bad thing in my eyes. Better to pay off debts, expand production, prove up a 5-10m oz district and any other low-hanging, value-enhancing fruit first. I tend to think it's a very unimaginitive use of company profits - you're basically saying we can't think of anything better to do with this money so we may as well give it away! I think there's be plenty to spend the money on that will return value to the shareholder for the foreseeable future.

I do agree though that sentiment can turn quickly. A toll deal could land tomorrow and the mood on here would brighten considerably, along with the SP.

The amount required will also make a difference. The smaller it is and the quicker the payback, the better terms I would expect.

Don't forget, we have a mill already - I think MC mentioned somewhere that would knock 12 months off of time to production.

I also wouldn't mind being taken over by Calibre though, provided the two company's appeared to be equally undervalued at the time. I can't see it happening though. I doubt JM or MC are interested in becoming involved at Calibre, so there's not much that can be done so sweeten the deal for them above and beyond the takeout price itself, which I think would have to be £1 a share and up for them to consider. I think Calibre have a fair bit on their plates to digest as well.

Bear in mind the only real difference between 30p and 50p is sentiment. Look at the 2-year chart, we were bouncing around 50p quite comfortably for quite a while before the current dip. In time, sentiment will take us back up again, regardless of company progress. Selling out for 50p therefore might be premature.

Hirsch - here's what you need to do:

"For companies that do not have such powers enshrined in their articles of association, the Companies Act 2006 provides a statutory procedure to allow the shareholders agreement to remove a director by passing an ordinary resolution (i.e. anything over 50%) at a general meeting of the company."
https://www.lblaw.co.uk/services-for-business/corporate-law-services/shareholders-agreements/removal-of-directors

So have at it. Get a general meeting called. It would probably be wise to ensure you have the numbers on your side before you do though. Don't forget JM has 19%. If you can get him on-side then you've got a good shot. If not, it'll be an up-hill battle to get the numbers. One imagines that MC would have to abstain in such a vote, though I'm not certain.

Who do you have in mind to replace him? Someone with a good amount of experience at this sort of thing? Someone who takes a small salary and buys loads of shares instead? Someone who won't dilute us out of existence? You know of a suitable candidate? Be careful, you could quite easily get someone worse (ask the KEFI board what they think of their CEO). I guess the disruption could easily cause 6 months of delays while the new candidate gets their feet under the table.

Or are you just going to whinge on a BB? It's a lot easier to do that that actually make something happen isn't it?

That's gold you're thinking of, not gold stocks...