Member Info for enuffRMbs

Chirpy. The much more relevant RNS is 24 March 2022. £5m raised to complete Dundas. The day after Disko drilling announced. Which was cancelled shortly after fundraise. Then oddly a load of Kanga fieldwork initiated. No delineation in reporting on use of funds (unlike Amaroq who ringfence funds raised for different things). Please read the RNS before and immediately after this one.

Exactly. Someone could get both for a pittance

Gone very quiet there too…

https://www.albamineralresources.com/project/thule-black-sands-greenland/

The £5m raised in 2022 was supposed to be the amount required to firm up the resource and get Dundas to FID. Who knows how much was actually spent and on what, but I would start around that amount to get it back to credibility. Common sense would be to do a deal and do TBS (Thule) at same time.

I was hoping Amaroq might have a sniff at Kanga but they seem disciplined about sticking to the very south of Greenland.

Chirpy. Same question to you as you held stockbroker qualification?

(Also interested in Kanga - we get mixed enthusiasm for it over the years)

Ashton. Genuine question as you have access to international legal advice. Is is legal for an ex director of an AIM company to sell their shareholding (>10%) but not tell the company for 15 months at which point they buy back a similar percentage for a fraction of the cost, just when they are reappointed as a director. Illegal or just bad form?

You old sleuth Ashton. So you predict that a listed company may release an RNS or two? And some might be soon? Lucky we have a clairvoyant on board…

On that note, have a Quick Look towards the back of the recent Alien (UFO) annual report under the director and ex director holdings and what do you notice Rach?

And as I have stated before, RM knows this which is why the best time to cash in is early days with the hype hence the original strategy to hive off Disko raise hopium ££ and cash in some of his shares.

Did everyone clock the annual bonuses awarded? Not far off the actual salaries. Wow. Clearly not linked to share price or profit then! Imagine what they will be if FUM actually break even? Nice work

RachT. I do like that ASX force you to do a quarterly cash flow and activities though. You can much more clearly see cash burn and forecast when a raise is coming. AIM should adopt this - of course they won’t.

We need to give the BoD time as they have been very busy at day job at Whitecliff. Please read quarterly update on ASX.

Appointment of Mr Troy Whittaker as Executive Director and Mr Eric Sondergaard as

Country Manager in Canada, as the Company focuses on its portfolio or uranium, silver

and copper projects in Northwest Canada. Post quarter-end, Troy transitioned to

Managing Director and Eric was appointed as Executive Director.

Just raised $5m to polish some turds in Canada. Same old routine.

That’s the trouble with Coppelium Cat. You get a very short lived high (like 14p) and then in no time you feel 97% worse off.

It is certainly flavour of the month Ashton.

In other news, looks like yet another JAY (or JAY scion) JV has floundered at the first hurdle.

https://www.lse.co.uk/rns/MET1/placing-to-advance-black-schist-project-1rqc4vg0kw0z2zc.html

It’s a terrible structured deal, but RM (and I am no fan) knew that the Kibold hype could have been exploited hence he wanted to hive off Nikkeli and raise a load of money. He knows hype. Hence Cayman island structures. He was thwarted. I think he was on the money though. People would have paid for a slice of Kobold.

Ashton. Much more briefly. Question 14.

How will a virtually worthless company with shredded reputation raise money to drill at Disko next year even if that actually happens?

RachT. One Wallow does not a summer make!

AI mineral resource unicorn (cofounded by Bill Gates, Gandhi and Taylor Swift) is proud to launch their latest product, (S)truth locator. According to CEO Kurt House, “ we noticed that in the mining sector there is an awful lot of truth to be mined but it can be very difficult to locate as it’s is often buried beneath years and years of contradictory information, interviews and bull***t RNS. We think using our brilliant AI (did I mention AI?) algorithms we think we will be able to find enormous nuggets of truth and beyond that whole district scale veins of veracity. This will revolutionize mining. We have trained our models in probably the most challenging inaccessible datasets for truth, that of the Bluejay mining company. There we found a nine tonne boulder of facts hidden among a decade of corporate nonesense and shenanigans. We believe if we can locate truth here we can pretty much find it anywhere.”

I missed the latest at Apollo. Thanks RachT. Let’s hope that This joint venture doesn’t go up in smoke.

Please refer to Rods large shareholding in UFO acquired after price fell after failing to deliver under his leadership, for further evidence that his skin in the game has a negative correlation with share value.