RE: Why..30 Jan 2024 12:40
Wow ! Where to start @Major T.
People "dragging negatives" out of you and having problems with walking and typing.
You seem quite willing to state negatives (more about those in a moment) and from your recent ill informed statements, you said "walking and typing" is a problem but it seems "walking and chewing gum at the same time" could well be the main problem.
I do however agree with one of your statements of fact, and that is that many were not impressed with the raise to buy Virgo in light of the "no placing" statement.
At the time of the "no placing" comment, the Virgo licenses were not on the table (to us),the "nimble" commercial decision was taken knowing the criticisms it would attract.
And now to your main errors.
1. The Bots drills show some mineralization and were purposefully away from the known central shown mineralization in order to try and establish potential parameters. How you can possibly state that "it's obvious" they do not "warrant following up" is staggering given that the neighbours are snapping at our heels with decent grades and positive surveys galore. The only thing that is "obvious" after that statement is that you are clueless regarding our business model as an explorer .The Virgo assets that we "nimbly" bought for a song with minimal "exploration" could easily be sold for much more than the present Mcap of Arcm.
2, Re the BoD "cashing in their options at a nice profit"-To-date no "cashing in " has happened and the BoD are allowing the "debt" to be "carried forward". The options closure was part of the requirements (probably Roths related) during the negotiation of the JV process. My take is that they know where this is going and will re-instate those options and a few more at a later date.
3.The "endless exclusivity agreements" This was mainly down to the "crooks on the books" and then "There should have been no exclusivity agreement" a naïve statement when Anglo/Roths were looking to finalise a $90m deal.
4. To "secure a carry through to DFS or production the SP would already be multiples of todays price". we won't be here then IMO
5."Have seen the terms of the other parties ?" Many holders are aware of the other terms as we have asked and been "told", and they are an absolute million miles away from the deal we have in place.
@MTom, far from having negatives "dragged out of you" or having your "Arc demons exposed" you seem to revel in making statements with a blinkered approach and significantly limited information .
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