Member Info for Fevertreeman

Mirros my own thoughts. PL has diluted s/holders to hell in recent years and produced nothing that resembles progress beyond monetising his private interests (Atome). Given POO its incredible that he continues to destroy s/holder value here.

The question is how would Levine pay for any diversification. The sp is where it is because while the price of oil is booming and sector has had a great run, the market has lost complete faith in the EGO that is Napoleon Levine, and until he can actually produce something that looks vaguely like a company firing on all cylinders this is going absolutely nowhere

And while we're at, what reasons were given for issuing warrants as well...its truly sickening. If I were to find myself in the same room as Adams I would be sorely tempted to wipe that supercilious grin off his face

Diluted to hell has already happened. There is the unbelievable figure of almost 3 billion shares in circulation. This means that it is going to virtually impossible to get this moving in any meaningful way as the market makers will ensure that they dont get stuffed

On the button. Sadly , the difference between Walter Mitty and Adams is that Mitty was an innocent ingenue and a dreamer, Adams is ann utter scheister who has destroyed everyone's wealth except his own. His behaviour as Chairman?CEO is utterly appalling. There is no independent non-exec chair as he combines both roles; best illustrated by disgusting smash and grab attempt to get £500,000 CASH bonus for doing his job securing TK funding. Only abandoned when Winnifrith belatedly realised that Adams cared not a fig for his shareholders. Since then we've had the whingeing Aussie complain about how running this company eats into his family and leisure ffs. His reluctance to do any proper work beyond occasional trips to glad hand it with ministers or the odd IR seminar where he repeats the same toxic nonsens he has done for the last 5 years....Both the Ethiopians and Saudis are in no mood to play ball with him on his terms. meantime having failed to get his hands on 500k cash, he instead overcompensates himself and the rest of the shower of a board..

Pinocchio is giving yet another investor presentation forum thing where no doubt he'll complain about the toll on his personal life! FFs his job is to get the funding signed, not waste yet more time at another bloody conference. Saw that over 8m share traded and got excited until I realised HAA has preside over his own destructive version of QE creating almost 3 billion shares and destroying value as he goes.

He is just one of the biggest scheisters out there - totally shameless, utterly untrustworthy, and breathtakingly entitled. His behaviour is contemptible

FFs.....he is paid handsomely to do the job of running a mining E&P business in Ethiopia and SAudi. What a cheek to complain that he isnt spending enough time hanging by the pool with his family.....contemptuous or what.

So bloody true!

What a load of old cobblers! Thi isnt an update -but a last desperate attempt to persuade s/holdrs that he isn't a scheister which of course by now most s/holders realise he is. The sheer brass neck to try and tell us things have got better.

Particularly loved the inclusion of utterly pointless bullet points such as:
" Safely navigated the indirect effects of the Ethiopian civil conflict, which was in parts of the country distant from our sites.

And then there is the utterly ludicrous comment that shows how desperate Pinocchio is to get some credibility back:
" Informal indications from the Saudi Arabian Ministry of Mineral Resources that the long-standing application for a Mining Licence at Jibal Qutman Gold Project would progress in 2022."....I mean we all havwe informal conversations that mean SFA but to put this crap in an RNS to investors and the market is simply mind-boggling....his PR advisers must be either crying with shame or laughing as theyt get paid to cobble together this crap

How very Gone with the Wind! Harry as Rhett Butler,; now I've heard it all. The only sun rising is over his bloody villa in Cyprus where he banks his ludicrous consultancy fees for SFA work

ha ha ..... and that with HAA having conveniently unlocked the shed beforehand...what a total conman this character is

I think we all could have guessed what the Greek carpet bagger's next Hawaih rns would be and as per normal the untrustworthy SOB comes up with massive increases in Mineral Resource Estimate ("MRE"). How convenient for HAA - I mean does anyone trust anything that this company releases to the market? This is the same man who has told us repeatedly over last 5 years that funding is around the corner and then lowered our stake in Hawiah w/o telling anyone. He is without doubt the one man you do not want running your company

On the money. I think the end is nigh for the Greek carpet salesman. Change of brokership changes nothing since the Brandon lot are also implicated in the disastrous management of this phantom which has ****ed millions against the wall.

The Greek Pinocchio knows he cannot raise the funding so screws his s/holders for the debts his mismanagement has created. That 500K bonus he tried to 'steal' isnt going to happen either. So the current situation is that if (and frankly who in their right mind would throw bad money after bad, so its a big if) he raises funds to pay off the accumul debts, he is left with a tiny amount for working capital use, so barring some miracle, the whole cycle is going to be repeated ad nauseam. The E investors must have seen this coming which is why 3 years on he hasn't a bean in the bank he promised to build (let alone produce) TK. Saudi is a pipe dream given his woeful reputation for screwing everyone over , his elasticity with the truth, and the total lack of governance checks and balances. No idea what the catalyst here is but its coming

I like the business model, the management team, the opportunity set, and the growth potential, I am seriously struggling with the rating. Its on a truly astronomical rating, even taking 2019 figs with diluted eps of 9.7p and applying 20% growth for coming year, it is on 43x earnings!

very well put. The answer is twofold (1) HAA track record and (2) follow the money.....in both cases I think time to move on.
On (1) Adams has consistently lied and dragged his feet over what actually happening. Progress has been zero on TK, as the cut and paste updates show over the years where the same 'lines' appear multiple times...It is clear his relationship with the Ethiopians is lousy as he has yet to deliver any tangible benefits and the level of mistrust goes deep. His consistent efforts to enrich himself whilst carpet-bagging his shareholders shows you what sort of individual he is, and there is no real corporate governance as he is both chairman and ceo.

On (20, yet another heavily dilutive share placing when he categorically stated it wasn't needed shows how desperate he is for cash. After years of promising that project financing would be closed in a world awash with zero rate money seeking a home, and a supposed commodity boom, he has delivered nothing. 30%+ funding still unaccounted for and the remaining 60+ supposed committed finance is not monies in the bank and only committed if he can raise the rest. That won't happen as all investors have his number, and interest rates are about to rise, which may change the outlook for funding.

Looks like one PRMR has transferred a ton of stock over to another family.

More strikingly is today's announcement regarding Pinnochio's share issuance over the years of misery, so that we now have the grand total of 2,567,301,106 shares. Yes folks, that is 2 billion 567 million of the blighters, when the MMS in this pile of crap is 300,000. No wonder this is going nowhere fast. Adams should be crucified for his utterly disastrous stewardship which has involved multiple cases of misleading shareholders, utterly inept project management, a total disregard for corporate governance, pig-like greed , and an almost superhuman destruction of shareholder value. 2022 will mark the final chapter for the carpetbagger,

So GM in Australia....just utterly laughable that Adams again fails to face the orchestra let alone his UK shareholders. He has to be one of the biggest charlatans out there, as his track record decisively proves. This was never a serious operation: as others have pointed out the cut n' paste 'progress reports' on TK have been utterly worthless, as no progress has been achieved on the ground as others have pointed out. Adams has ****ed up against the wall millions of shareholders funds, regularly lied through his teeth, driven a coach and horse through proper corporate governance, shown not one ounze of remorse, and continued to peddle untruth after untruth whilst pocketing huge consultancy fees thro' his Cyprus bolthole.

Not normally how financial media operate I can tell you, but then again Tw is as much a chancer as Adams.

Normally though in my 30+ years of being involved in M&A situations, the "wall-crossing " is strictly limited to investors and possible investors and not journalists or tip-sheet owners.Everything about the way Adams conducts himself is utterly appalling.