RE: RE: Black hole25 Jul 2023 23:29
In this interview from June (linked below) I sense, for the first time, JB being somewhat twitchy and agitated, he took (rightly so IMO) a great deal of flack as a result of the May placing and he continues to make claims that never seem to occur within the suggested timeline.
In the interview he makes no mention of Grängesberg yet in a interview in Q1 he stated AYM would acquire 100% of the project within 2-3 months, once they reached 100% the project could be IPO'ed or sold he joyfully suggested. This has not happened, not for the first time he has made claims and failed to deliver. Very annoying indeed.
Today's placing, I have no understanding what they mean by 'latent demand' sounds like a load of bull$hit to me - due to JB running willfully off to the brokers raising cash at ever lower prices no-one wants to touch this stock with a bargepole - volume is non existent, he has turned Anglesey equity into a lobster pot, you can buy but cannot sell.
All we hear from him is studies this and studies that, upgrades here and upgrades there, another 12 months this and that, what about securing a meaningful JV partner or securing funding at project level or actually selling one project to fund another, anything except ridiculous dilutive placings raising peanuts.
I personally feel JB has a intent dislike, one could say a arrogance towards the shareholders, especially retail ones, he has commented and even belittled them for being around a long time or suggesting they want out, stale bulls etc. Well Jo, create a liquidity event so they can exit and get off your back.
JB's performance for AYM shareholders has been abysmal, today was just another example.
The interview...
https://youtu.be/Ig6mOjdTXTI