Member Info for elir71

On another note
Horse Hill... any forecast on income stream and timings

That's a considerably larger company. You still didn't mention costs.

A comparable is QFI and XSG...

Your arguments are akin to arguing to promote dictatorship as it saves on the costs of running elections.

Ocelot
Put some numbers to your argument that the increased admin costs of a rights issue or other variants' costs exceed the loss to shareholders through dilution of discounted shares.

A good starting point is QFI, a similar company in many ways. A good product promise, ex Bergen, pre self sustainability by 12 to 24 minths. Why don't you ask them if the administrative burden was too much?

@sharegnomie... 'can we get a group together to inform GF.....'

The executive acts within the constraints of the powers vested in them by the shareholders.

We inform GF at the agm, at about the same time as we inform him that he's got another 12 months work at least with us.

@ocelot... 'A rights issue costs more than a placing'

Costs who more? Bergen at 0.06p cost existing shareholders plenty in terms of dilution.

Why on earth would an existing shareholder be unenthusiastic about the return of the normal rights a shareholder would expect.?

Your assertion is akin to, 'elections are expensive, let's stick to despotism'

it may of course be the case that GF does not seek a resolution continuing the suspension of shareholder's rights of pre emption, we'll just have to wait until the resolutions are published in the notice to the AGM

Ordinarily I would be willing to act as proxy, however I will likely be at sea at the time of the AGM, which, as I hold a token number of paper certificate shares (legal ownership) I am entitled to attend and to speak in. Nevertheless I'm sure our brokers in the main will vote in accordance with our wishes. HL for example ask for 5 working days notice, and they can act in accordance with wishes expressed to them on the secure message facility on their platform picking subject : corporate actions.

for AJ Bell youInvest its :- https://www.youinvest.co.uk/faq/can-i-vote-agm-or-egm

Trading212 dont offer the facility

IG.com do it this way https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/do-you-offer-proxy-voting

I don't you if you are referring to me xc recorder or not.

I don't think it credible that the company has sufficient funds to reach self sustainability. I'd imagine it's a two year horizon until that point, unless something happens with horse hill.

I've put some effort which I am willing to make public into quantifying the need for further finance.

The significance of talking of placings now is not to manipulate the sp down. On the contrary, I've argued for some months that 0.7p is a more befitting present sp. At the last AGM, the authority to issue more shares and to do so without first offering them to existing shareholders was granted to the bod after a letter from GF to shareholders impressing the need.

It was an emergency situation which at the time warranted emergency powers. Huge dilution then occurred with Bergen getting shares at 0.06p

GF to his credit, dispensed with Bergen and subsequently raised finance at 0.375p from memory, both actions raised the sp.

These emergency powers expire at the end of the next AGM, that is imminent. I want to see full restoration of shareholders rights of preemption, but support the authority to issue a limited quantity of shares for a limited time.

I think the company will need more cash over the next 2 years and I prefer that existing shareholders are offered discounted shares first

@sharegnomie
you mean a rights issue with tradeable warrants at 2p exercisable within the next 5 years
Yes I'd be up for that

https://www.sharesoc.org/campaigns/shareholder-rights-campaign/

I hold a token amount of shares in certificated "legal" ownership, the bulk being in "beneficial" ownership within a stocks and shares ISA wit HL. I asked two questions
1. would they vote as I wished ... answer ... yes (though as pointed out, they arent obliged to)
2. would they appoint me as proxy for the shares they own, (I beneficially own) ..... now they did not say no to that though clearly they were trying to push me towards asking them to vote they way I asked them to.

@sheremige... Then vote against continued suspension of shareholders preemption rights

And for placings

You all realise that the bods authority to make placings and to do them without offering the discount shares to existing shareholders expires at the end of the 2021 agm?

I've been at sea
Anyone know anything about hole ll10?
It's important as it intersects the projected lode 100m below the old workings. It may be of course bottomed out, but we don't know any more than significant mineralisation is at least 50m below level 4 llechfraith. I still want the phase assays, especially from the area between the intersection between tynycornal crosscut and the main level.

@ocelot.
Jv are best when a resource is proven as we bring more to the table.

The biggest surge in alba sp that I remember is getting rid of Bergen. If there's discount shares going, it should be offered first to existing shareholders. That is the normal situation.

You can ask your broker to vote as your proxy in most cases. Hl let you do it that way. It seems trading 212 will not

@Indigo, many funds require an mcap of £100M before considering a company for investment. So when we hit that then I expect demand for the shares to increase. We're at £78M at the time of writing.

As we're talking about timings, I wrote myself something to gather my thoughts a few weeks ago

https://docs.google.com/document/d/1Jp8gX3IYbqP7w5t1Bnm1ltWePy2YNFrNp2tLSLORSrU/edit?usp=drivesdk&ouid=106679098042139031691

Expected newsflow
Greenland reopening
Notice of AGM 11th May at latest from memory
Assays of spoil tip fines
Assays of bulk samples Sept Oct 2020 <<<<Drilling progress Clogau
Drilling progress Limerick
Annual accounts
Annual General meeting
Dewatering permit

I found this reference : http://mima.geus.dk/wp-content/uploads/MiMa-rapport-2016_3_Critial-Minerals-in-Greenland_med_om****.pdf (last word s l a g)
"Amîtsoq, South Greenland Graphite hosted by graphitic schists embedded in strongly sheared cordierite-sillimanitebiotite gneisses occur at Amîtsoq (Bondam 1992; Mosher 1995). The ore consists of finely disseminated graphite flakes in a quartz-rich groundmass, accompanied by pyrite and biotite. The graphite is flaky and up to 15 mm in size and the graphite content is 20–24 vol.%. The ore genesis is associated with volcanogenic massive sulphide (VMS) formation, as a result of syngenetic deposition of organic material from bacteria that thrive in hot sulphide exhalations. Subsequent deformation and metamorphism transformed the organic material into flaky graphite. The original ore body is estimated to contain 250 000 t of graphite. The Amîtsoq graphite mine produced a total of 6000 t graphite ore averaging 21% Cg (graphitic carbon) during its operation from 1915–24"

** 250 000 t of Graphite **

I've asked the question of the company plus how much ore to make the concentrate (sounds familiar ???)

@mickymix ... precisely why I dont use stop losses with relatively illiquid high spread AIM stocks. Ok for your widows and orphans shares to mitigate unforseen disasters , but otherwise you're just making yourself vulnerable to MM games