RE: News...........7 May 2025 23:33
It is typical of this outfit to go to the trouble (and expense) of a investor presentation and fall flat, the theme, being undervalued, however what a total letdown post the event, no news absolutely nothing except wretched Lanstead dumping their usual 2m a day, they cannot even find takers for the Lanstead shares despite all their supposed contacts.
Frankly I am sick to the teeth of these overpaid and dare one suggest somewhat ego driven individuals who run this company, a very cosy lifestyle. It is truly criminal they extract £500k a year in salary, they say it is the norm, NO IT IS NOT ! I can easily produce a whole swathe of AIM listed peers (POW for example 2023 salaries totaled £260k) on far far less annual renumeration.
Over the years they have not delivered one ounce of shareholder value, not one ounce, broken promises, delays and waffle is all you get. In a decade they have not even delivered a 1m ounce JORC gold resource, in Senegal they have been messing around since 2016, spending £7m, the outcome nothing. In less than 5 years nearby Chesser Resources delivered stunning drill results, shareholders gained enormously - eventually taken over by Fortuna Silver Mines.
Am I happy no, I suspect fellow shareholders are equally fed up, the new CEO advises we should all read the Disclaimer before buying shares, a truly dynamic statement, one thing for certain they are very comfortable taking their £40k a month out of shareholder funds whilst the share price has slumped from 1p to .17p since 2018.
Oh BTW, if anyone wants to doubt the aforementioned commentary just watch the Investor Meet 2023 presentation and see how many of the goals were delivered since, the answer, next to none.
DYOR etc.