Member Info for Henners007

"The Purchase Programme will consist of 12 monthly purchase events occurring on the 20th day of each month beginning on the 20th April 2018 and ending on the 20th of March 2019."

So after today's announcement only one more Directors Purchase Day remaining. I think we can all probably now work out when the PFS will formally be revealed.

Figure this out, because I can't. The mkt cap of the company is (give or take) the same as the debt US$25m. So in the case of a default the lenders get the company for nothing. I am struggling to see a rationale for a share price rerate short term, until the next set of figures are released which must clearly demonstrate an upward move in profitability. Shareholders should remember that the company is now responsible for repaying interest quarterly in arrears and at 12% p.a., that money (and the exchange of the convertible loan to straight debt) has not come cheaply.

Geng,

What purpose can a UT trade (which I do not fully understand) valued at c£320 be all about? Genuine question by the way!!!

Much appreciated insight from those that attended last night. Thank you. Hope to get to one myself some day.

Great chart for the chartists!

Does anybody know why the shareholder event is being held at The Chesterfield in Mayfair? Could it possibly be connected with the fact that Riverfort HQ is just around the corner?

Perhaps this event (being out of the ordinary) will finally reveal something meaningful. Look out for that RNS first thing Monday morning.

Ok. thanks MadMat. That does makes sense. I know nothing about Riverfort as a company.....................but what you are saying is that they require an income stream irrespective of share prices, whether it be AMC or any other company. They need to offset expenditure v income like all profitable trading companies. Clearly they have other irons in fires to finance aswell, so this present set back is unlikely to do with fundamentals, perhaps more to do with "income needing to exceed expenditure" at river fort plc

Genuine question. Why would anyone sell at these levels? Who is going to benefit financially by selling at 3p?

I have heard and read of Riverfort (of course), but can anyone please explain (in simple terms) how they benefit from a falling share price.

Thank you

Excellent find (probably).........how do we translate?

The good news is that Robin has been here before with previous mining companies. He has the experience, professional knowledge, background and support team to succeed. I would be more concerned if he was cutting his teeth with AMC. Fortunately for all shareholders that is not the case.

Hi Ary82, if we accept that matters are moving ahead behind the scenes at a quick pace, there will be a myriad of permutations for the BoD to contend with. It becomes possible to see how detail very important to PI's in the here and now, may be subject to a more measured approach over time to ensure value is maximized for all stake holders. The PFS appears increasingly to be a vital and critical cog in the process.

Without being flippant. The "going concern" audit blurb is immaterial. Every company without a revenue stream (and even many with) are always going to have some kind of audit "material uncertainty" statement by the auditors. It protects their backsides (to a limited extent) in case of shareholders suing.

Financing needs are to be substantially reduced next year. No drilling at all, or only very limited single infill holes to meet any additional requirements of the FEDF or Russian government (as explained in THAT interview yesterday).

Sneaked inside you at 3.545p earlier in the day!!! One of many tops up. Agree next year should make the wait more than worthwhile

Was that your buy MadMat? Not sure you can rely on the Buy/Sell/Buy indicators on LSE. My buy earlier today went through as a SELL!!!

Yep I did TDT. Played it back a couple of times and definitely it has been edited. RY did agree with the interviewer that US$200m/300m had been removed from the capex, and clearly the tax incentives are material now that there is more higher grade stuff to pull out of the ground in years 1-5.

Hi Gamer. Agree with you. I do not doubt his sincerity though, I do not feel he is dragging this out just for the sake of it. Clearly it has taken much longer than anyone thought. With hindsight, I would have bought the shares I currently hold today and at a cheaper price. If only it was that simple.................................

Interesting to hear what you make of it Gamer...............................

Hi Lucando, my understanding was that if the Russian Government decided the scheme should not proceed the compensation would be paid - and this could still happen (albeit highly unlikely). To be honest it will be a moot point anyway given the substantial progress that has been made in the interim and potential from hereon in over the next 6/12 months.

Hi Delboy,

Yes, I am firmly of the belief there is a FREE CARRY here. If the project does not proceed and the land becomes a greenfield site, shareholders get back the sunken cost per share. As mentioned in my earlier post that was at or very close to 6.5p 5 years ago. From today's price that is a FREE CARRY.

I have watched and listened very carefully to the interview twice . RY is composed, open and transparent. He explains why the PFS was not available on time and is contrite in doing so. this man is not an actor he is a professional geological engineer.

"The completion of the PFS has taken longer than initially expected and it is understandable that this delay has caused concern".

With regard to your comments about the BoD's level of regular monthly subscriptions, there is no obligation to subscribe. I am greatly comforted that the Board listened attentively to shareholders and went out of their way to implement a scheme whereby they all benefited alongside the company's existing shareholders. The FACT that the BoD are subscribing gives me comfort.

With regard to dilution, the maths is very straightforward. When new shares are issued, if you believe this will add value, pro rata your shareholding up at the same %age as the new shares being issued (at an attractive price). If you do not think it will add value, sell and curse your bad luck.

It may well be DelBoy that your investment time horizon is that of a day trader. If it is good luck, and I genuinely mean that. I am here for the long haul, and am continually nibbling away at more shares. eg More will be bought today. You have a view, it is very different from mine and that is absolutely fine.

When the light turns to green on this global leading nickel mining opportunity, we should meet up to celebrate or drown our sorrows. I am more than happy to discuss either way at the end of the line.

That was a sincere, open and fair assessment of the current state of play by Mr Young. There was even a little bit of contriteness in there aswell. 21 minutes well spent watching and listening. He was relaxed and open about all things before AMC on the table. Some really useful snippets regarding the NPV, reduction in capex costs and likely ultimate outcome.

Very exciting times for those prepared to exercise a modicum of patience until the New Year. This is a free carry. Remember the.re is a backstop price which was believed to be 6.5p about 5 years ago, based on sunken costs at the time. Even that bailout price is almost double where we are now....................and no carry debt.