Member Info for Highside

Probably because its not our quarry.

Sorry guys i misread the text and i agree exploitation would imply mining licence. Its no great surprise as a PFS is a std requisite in the evolution of building a working mine IMHO.

I wont even go down the road of NI avoidance in taking wages as share at a time when NI is about to go up :-)

I wonder if something has been lost in translation Bricks because surely you cant present a PFS before you have an exploration licence ? i wonder if the exploration licence is the Mining licence ?

MM
I think these trades are just balancing the books
If people sell a multiple of shares that doesnt transfer into a practice amount of money ie: it ends in a fraction of a penny then after several trades an adjustment will be made to account for the anomaly. Likewise if people cash in a number of shares that doesnt equal a round number in Currency an error will accumulate over dozens of trades.

Of course if people would rather think its a code i dont want to spoil their fun :-)

I dont think many seasoned investors were too bothered to see him go last time :-)

Sorry but with savings being explored and remuneration being tweaked i cant see another guy like Bird coming back to the trough when we cant really afford the ones we have.

I hope you are right , maybe the cost cutting is because they have a target so incentive..

You may be right Bricks but this doesnt really for fill the brief which i thought was to expand on the experience gained by the assembled team with Toral ?

Crisp
I think ewe have already established you know little about EUZ, this is not GGP or EUA. You do need a PFS in most cases and thats why they appointed WA as PFS managers in June last year. There is only x amount of money and since the last raise the strategic direction has changed and i suspect a new project has taken priority over the old project, probably because of new outside influence from Aus. I believe that Toral has pretty much gone as far as it can on the money they have bar tidying it up around the edges but its not a full time project for the team they has assembled so they are looking to diverse under the flag of realising "more ?" value to shareholders.
The only fact we have is we dont know what they are playing at and the updates are pretty spectacular at not really updating.
Are they going to buy up old quarries and fill them with ****, Are they going to go back into SA and look at Iron ore :-) Will LR open a coal mine in Yorkshire. I'm not sure i really care anymore :-(

I knew one day i would have to hand my pee'd off hat to someone,,,, but i never thought it would be bricks. :-)
You wear it well Bricks and i particularly like the Jaunty angle and the feather :-)

Its hard to say that DB have got it wrong when they drive the price down themselves by demanding a buy price up too 40% down on the listed price at the time of purchase.
I think what people are missing here is not a question of "will" this come good or that DB are mistaken, its the size of the cut they will get if it does come good. That cut diminishes every time DB drive the SP down, the BOD award themselves shares by not buying in the market or there is yet another placing.
As i said earlier the cut to each holder has already dropped by 56% since the consolidation and will continue to fall with shares issued in lieu of wages..Its literally 80 million sharing a pay-out now instead of 35m, its that simple.

Bricks
DB got a bargain price at 12.5 i was told at the time :-)
What we have learned here is that the SP invariably settles for a while at the discounted price...then drops so no one gets a bargain. What really happens is the BOD set a new value on the stock every time they discount a placing. would we now be at 4p if they hadn't placed at 5p when the SP was 9p ? the BOD are driving the SP...down.

I may well be wrong T but if they get say £50k in stock at the end of 2022 they get £50k in stock and the price doesnt matter. It only matters if they get £50k in stock at todays price and the SP rises or falls over time..

Bottom line is we need at attract buyers for this stock to move the price
Lets see how the markets judge todays news at 4.30PM

T
"Taking stock instead of pay speaks loads in terms of BOD confidence in the asset"

Only if they take them at todays price or buy them in the market
If not there is no risk in getting £50k wages or £50k worth of stocks ?

If shed would rather we look for something positive instead of commenting on whats laid before us..... :-) On the plus side today we have an RNS and the price hasn't dropped yet :-) that must be a first :-)

You are not really negating the cash requirement, you are just kicking the can down the road, This consolidated with 33.5m shares in issue. It already has 79m in issue and rising. The bottom line is your % of any payout is diminishing fast and any issue of more shares just speeds it up.
The BOD interests would be just as aligned with shares bought in the market as with additional shares issued.

Instead of issuing shares to pay wages which is just diluting us all even further why not use the 50% of wages to buy shares in the market ? I dont see issuing a couple of million more shares as saving anyone any money.

Call me cynical but..

"could potentially generate significant additional value for shareholders"
Surely additional value is in addition to value already created and there has been none.
Placing shares in lieu of wages is the same as placing shares to raise money to pay wages isn't it.?.

I think these questions should be answered in the strategic review, whether they will be remains to be seen however its hard to see how you can have a strategic review that covers the question of BOD remuneration and the possibility of new project (s) without explaining the reasons and method of funding....
My worry is if the BOD feel they must cut back then they obviously dont have a JV or sale anywhere in the offing so maybe the fact we haven't had the results of the SR so far is a good thing :-).