Member Info for Happyhaddock

CEO's aren't infallible super heroes or gods, they are just human beings paid to do a job. There will be things they do well others not so well. A good BOD should have the skills to balance out any weaknesses in a CEO. At the end of the day you simply have to decide for yourself if a CEO and directors are worth their salaries or not.

I don't know what BBG is currently paid each year, but if I remember correctly I think the last figure I remember seeing in annual accounts was about $180k or roughly £150k (no doubt someone will correct me if I'm wrong). In the time he has been with Alien our mkt cap has gone from around £2m to about £35m.

His salary may be multiples of the average UK wage/income but is par for the course in terms of CEO's where in the most simplistic terms it amounts to costing us less than he has so far added.

... conspiracy theorists might get by the sensor...

@carvegyber, it's certainly true that most industrial commodities have taken a hit over the last couple of weeks, but it's also true that most have had at least one or two days of bouncing back a little within the general downward trend of that period.

As to what such a prolonged downward move means for the price of silver then that's difficult to call, I am however inclined to feel it must have some significance... Conspi******s might argue it's a last ditch attempt by the manipulators to bring the price down before finally letting it run... myself I've been investing in silver for too long to believe you can predict where the markets will take it in the short term.

Let's just say I'm watching the price with a little more interest now than I usually do.

Whilst I am usually one to caution against Max's more enthusiastic short term predictions it is difficult to disagree with the notion that AIM is place where things can swing wildly and make large erratic price moves in very little time.

The fundamentals are here with UFO to support a higher SP, and with wild swings in sentiment come even more extreme overshoots in SP so it's not unrealistic to imagine a possibility where the SP massively overshoots true value again.

The unanswerable questions are what will trigger a change in sentiment and when will it happen?

I'm inclined to say that the really big swings in sentiment come from external macro-economic factors more than internal company specific news. It doesn't matter how good a company's news releases are, you need something external to get a new audience interested in reading them to see if they are good or bad.

It would be foolish to believe you can reliably predict in advance when sentiment might change, but for a while now I've been thinking a growing number of factors are hinting at a turning point around April 2023 (a bold call I'll probably regret stating publicly)... but whenever it happens I'm happy to keep waiting patiently.

I'd just like to repost something I commented on elsewhere a couple of days ago:

We all know silver's price is volatile going up and down all the time, however it is rare for daily volatility to go more than five or six days without briefly interrupting and temporarily reversing a broader trend.

As I type, the price of silver has ended lower every day since the 19th April. We have to go back quite a few years to the last time we had so many consecutive and uninterrupted days of falling silver prices.

Whether others wish to attach any significance to such an occurrence, or dismiss is as a statistical anomaly is up to them, I'm merely noting that what's happening now is sufficiently un-common as to possibly count as rare.

whether anybody attributes any significance to the following is up to the individual but...

silver's price is pretty volatile going up and down all the time, yet since 19th April it has finished down every day. The last time we had as many days of moving consistently in the same direction without any brief reversal to trend was at the start of the pandemic when between 6th and 18th March 2020 the price finished lower each day than the day before. Before that I think the end of 2017 was the last time such a run occurred.

We all know what happened to silver's price after the drop in March 2020, where although rarely managing more than four or five days without a brief interruption to trend, the broader trend was very much upwards for several months. I'm not so reckless as to suggest current price action pre-empts an imminent reversal and price break out in silver prices, but I would note that it is rare to go so long without daily volatility briefly interrupting a wider trend.

If any of us could reliably predict when sentiment will turn back in our favour then we'd have our money elsewhere and only return here just before the illusive trigger that unexpectedly moves prices.

Do I expect the price to shoot up imminently ... No

Could it happen imminently... possibly.

If you believe in the potential here and that we are doing all the right things, then you simply commit your money and wait to be pleasantly surprised at some unspecified point in the future...

Just think of the current price stagnation as the opportunity costs of ensuring you are invested when things do get interesting as we all know this is a company and a sector where prices can move suddenly without needing any obvious trigger.

I said yesterday before the markets opened that I would be curious to see how they reacted to the RNS, that whilst such grades would ordinarily be considered excellent, within the context of EH they may not be enough to satisfy exceedingly high expectations.

I think the drop in price shows that many who were already familiar with EH were disappointed they weren't even better grades. However the only cause of disappointment has ever been expectation ... so if you merely expected EH to deliver better intercepts than most other silver explorers then it did that.

@normbeef - I've already contacted Alien for clarification about the "missing" holes. My suspicion is that they've been omitted due to lack of notable mineralisation, but I'll report back here if I do get a response to clarify things.

@normbeef - the RNS implies it lists highlights but it is the final results, it might be that the ones not listed are dusters rather than still with the labs?

I always think it is much clearer if an RNS lists a hole as a "negative" or that it failed to find any significant mineralisation rather than omit it from a report as it avoids this sort of ambiguity.

I'm curious to see what the market makes of this today... ordinarily news like this would be seen as great but with expectations here so high do these results meet expectations?

I don't remember the exact wording but I seem to recall it's a little bit of a grey area in as much as it legally requires market sensitive information to be released without undue delay.

Exactly how long it might take to "interpret" data to prepare a news release may be debatable but whilst a "few extra days" to double check things may be within the wiggle room, I don't think anybody would accept or risk withholding data for months. So given that there are other small explorers in W Aus who still claim to be waiting on results from samples sent in around Oct/Nov 21. lab delays seems perfectly plausible to me.

so the headmaster now checking our homework has tasked us with raising at least $5m pronto ... It will be curious to see what sort of discount we have to offer to quickly find buyers for the new equity, what impact that has on our share price and if we end up higher or lower than where we were before today's news?

Well a few days ago I said it looked to me as if we'd annoyed our main backers enough for them not to simply hand over another loan without question, but not annoyed them so much that they'd walked and refused to offer any more cash.

So, like the naughty school boy having to report to the headmaster at the end of every school day, we've now been offered a temporary reprieve with lots of strings attached...

.. so confirmation that nuggety gold is difficult to get reliable grades on when drilling... mostly you get nowt, every now and then you get a narrow intercept of real high grade.

No one is going to complain about that RNS but we'd ideally want a lot more drill holes like that to define the boundaries of where the gold is or isn't.

I think price points to sell have to be very flexible and move in line with changing fundamentals.

If we hit 35p before the year end I'd expect many to have bailed out before then as that would be massively overvalued. If it were five years down the line then 35p may look undervalued and be a reason to buy.

Myself I take long term view and simply ask have the management made enough progress over the past five years to justify my share holding, and do I still see the potential for decent growth over the next five years?

The last 18months have been pretty stagnant price wise, but I'm still up a lot (multi-bags) from both my initial buy in and overall average price and I still see the potential to go up a lot more over the next few years , so that's enough me to leave my money where it is.

title says it all!

@normbef - I'm with you on the fact the most likely cause of radio silence is the lack of results to talk about.

We are by no means alone amongst small W Australian explorers in being forced to wait on drill results. A quick google trawl identifies a few still waiting on results from samples sent in during the later part of 2021. The systems are just overloaded by high demand and if there is more work coming in each week than the labs can complete, the delays will only get longer until such a point as they can recruit and train enough staff to increase capacity above demand.

We all know that the geology here should be great and that at some point in the future this should be a profitable mine for somebody, we also know that for the time being the management have screwed up and got us in a mess such that we need a lot more cash just to survive.

We have very wealthy backers who could easily loan us more money. If we were still on "good" terms with these backers we'd have secured the loan already and announced it rather than announce our desperate financial plight. If we'd outright fallen out with them such that they'd told us to "take a hike" I can't see us announcing our financial plight, and thereby trashing our SP, at a time we'd need to try and secure some sort of alternative fundraising our placement.

For what it is worth I'm guessing that our major backers are angry , but not so angry to have walked. That they truly want their pound of flesh to bail us out again. That some sort of deal has already been struck and that the current games are about intentionally lowering our mkt cap enough for them to step in and gain a pre-agreed percentage of the company for the $50m needed.

All just guess work but we'll see what is announced over the next week or two... this remains a very interesting but very risky play at current prices.

The following is copied from an internet discussion group unrelated to investing. Nevertheless many of the character types listed seemed applicable to LSE and this UFO bulletin board.

Any inter-net forum can attract people whose anonymity encourages them to say things they wouldn't if talking face to face. Certain stereotypes often subvert polite and balanced debate deterring many from contributing. The risk of this is that it leads to polarised and inaccurate conclusions which represent only the loudest of voices, not the silent majority. So, can you honestly tell yourself you don't identify with any of the following?

CHEERLEADERS: Those who always claim how wonderful everything is and will only discuss the positives.

DOOM-MONGERS: Those who always complain about how terrible things are and will only discuss the negatives.

ABSOLUTISTS: Those whose judge everyone else in terms of a binary "with me" or "against me" mentality as they will not acknowledge the inherent unknown, indifferent, positive and negative aspects of independent opinions.

VIGILANTES: Those who bully and try to silence people with whom they disagree, and claim this to be justified by labelling their victim's as disruptive.

DISTRACTORS: Those who immediately change the subject in an attempt to divert attention from facts they dislike but cannot refute.

AGITATORS: Those who for their own sport intentionally provoke arguments amongst others.

FEUDERS: Those who repeatedly inconvenience everyone by publically reviving what should remain as long buried personal disputes.

HOT HEADS: Those whose anger and fickle emotions lead them to keep changing their views amidst uncontrolled outbursts of barely comprehensible typos and expletives.

PARANOIDS: Those who continually seek to spread mistrust by questioning everyone's motives and honesty.

FANTASISTS: Those who seem undeterred by, or even enjoy, the fact they are ridiculed for making outrageous claims hardly anyone finds plausible.

PREACHERS: Those whose propaganda dominates every discussion as they spend all day and every day relentlessly trying to convert others to their own way of thinking.

OLD-TIMERS: Those who've been there, done that and worn out the T-shirt long ago, who can no longer be bothered to defend their views to any who question them.

PRETENDERS: Those who exaggerate the importance of their own contributions hoping this will disguise their inexperience and insecurities.

"AND ME"S: Those with no opinions of their own but who still want to be part of the conversation, who as such tend just to echo any views that were well received when first voiced by others.

SHEEP: Those who join a discussion looking only to read reassuring words from others who already hold identical views.

POACHERS: Those who only join a discussion to promote a rival product, group or service.

SILENT WITNESSES: Those who read everything but who never contribute their own thoughts to bring about a m