Member Info for EricDraven

You great berk. Lol. Welcome to the leaky submarine.

Yes, fed up with AIM completely really. I agree though, should we get a couple more mega rises here and no news by way of support, it will look decidedly sinister. I think that's when we could well get wanged with a convenient placing. Lol. Hoping the FCA is still watching. Cheers Bans. Have missed your posts.

Lol.

We are in a bad position Jib.

Good to see a rise, but I remain completely wary as to why.

Good points. Over to Bird to either source this JV partner, one preferably who will stump up initial cash to get the drills turning apace, or, a company who will risk a straight buyout of ORE. Easy peasy. Lol.

More like just bottom material. Lol.

Hi matey. I think the problem is that the personnel here remains largely unchanged. Progress has been at a snail's pace. Bird has had little effect, only to further dilute heavily. He is yet to source a JV partner for Mutsk. Drilling has also been very limited over the last three years or so, prior to and post Bird's appointment. The wage bill has also been far too generous. Without a JV, the next dilution won't be pretty. You mentioned a consolidation, but I feel it's the management style that has to change. I can't see that the current methods just won't continue. Consolidation, heavy dilution, decent wages being paid, minimum work on the ground and no nearer to production. The area at Mutsk remains undefined even now, because there is simply never enough work undertaken in any given year. I've been a shareholder here for over six years DShox and my holding is literally worthless now. The same must apply to many other long-term holders. I would not recommend this share to anyone, without first seeing a complete change of personnel, followed by the successful completion of a period of probation for the new team. Six months minimum. Best regards.

Christ!

Fair point, you are right. Dilution would start all over again. Perhaps immediately. Lol. Bad idea of mine then, considering this BOD. Was only thinking of a way we could benefit for our loyalty shown and a lower number of shares in issue would look better to potential investors. It's really a nightmare and yes, we need a JV from somewhere. If not, then certainly no more cash raising while we are sitting at all time lows. Cheers Jib.

Yes, the Trump model can be applied here. Lol. I'm hoping the wage bill is reduced further to conserve funds. No good though if the wages are cut then any bonuses/options are raised. Bonuses for what would actually be my question. Roll on next year now. See what happens. An idea that I'd like would be to consolidate and reduce the number of total shares, but for our woes, long-termers be given additional shares either before or after. That won't happen, but in an ideal world it would be a decent gesture from the BOD, who must be acutely aware that they have so far failed long-term shareholders miserably. On we go.

The number of shares in issue is a real problem. A further cash call will be horrific unless Bird can generate some good news from somewhere. We can't afford to raise money at these levels. Simple as that. This is just a vehicle for wages in my view. In any 12 month period there simply isn't enough activity on the project. I know weather dictates for a few months, but they never appear raring to go and work only lasts a matter of weeks. With the Mutsk area still undefined, without cash, Bird and Slowey could well just tick this over until it dies. The undefined area is somewhat convenient if you look at it from a certain viewpoint. I would like Bird to really market this now and secure a JV. If the deposit is so promising, he must surely be failing if he can't bring in a partner. Question is, will he bother? We have to hope so, because there currently is no shareholder value whatsoever being generated. There never has, to date.

Following your post, apart from me clutching my teddy bear and weeping, I've just let out a soft fart. At least that's what I hope it is. Hey Jib, I'm thinking of hopping on a plane, to see if Mutsk actually exists. Lol.

You have to laugh. The sp is now at the level of the ultra low placing price. Good old Birdy. Anyone would think he'd been brought in to wind the company up. Lol. Barring an unforeseen miracle and sharpish, the next cash call won't be good, though it will hopefully put us all out of our misery. Best wishes guys.

Cheers buddy, although I would say that there is more chance of Stephen Hawking winning a hurdles race. Best wishes.

Yes, the vein system may have been complex, no doubt, but we are talking too complex for this bunch of clowns. Lol.

Hi Liam. Good to hear from you. Yep, this has been a stinker for six years, particularly the last three. Glad you managed to get out before things got worse for you. A real shame this one, because looks like a different management team could have done something with the projects much quicker and with less dilution. Even if that meant finding out sooner if they were worth pursuing or not. There we are. Not sure I remember Ed. Langyy is a good lad though, he isn't a bad egg at all. I would say he can't be this Ed character. However, I feel we were all guilty of what now turns out to be misplaced optimism when Deli Jovan was being drilled. It seemed extremely promising. Management led us to believe that too of course, before discovering it was too complex a vein system. For them! The personnel here has experience, but is severely lacking in actual expertise. Hence we are where we are. Absolutely rubbish to date! Anyway, best wishes matey. Good luck with your other investments. Cheers Liam.

These have been in the bottom drawer that long, the flippin' drawer itself has rotted.

I've used that white stuff that cools down burning industrial-sized drill bits for lubing my starfish. I needed suitable rectal tranquility after that last RNS. Basically, no JV, but got a great program lined up for next year. Fookin' champion!

I think most long-termers have written this off. Birdy is no better than Slowey, who has been one step short of utter crap, but the two guys combined, Jesus! I can't see we've got much chance of ever seeing an upside that isn't laughable. Sorry that Bird is involved with another of your companies. If you are in profit or near break-even it may be worth considering his contribution here and asking yourself if he's doing similarly bad in your other one. Best of luck.