Member Info for Highside

Sorry PFS not PHF

MM
I still believe we are pretty much worthless as a mineral supplier or to a miner of minerals without a minimum of a PHF and preferably a BFS.
As we have no idea when or if either is expected these articles really go to show how hopeless the BOD are rather than actually making us attractive.

Its pretty simple Crisp
We are an Australian company thats not listed in Australia............ we are listed in south Africa, our HQ is in Spain and we hold our AGM in the UK. , quote commodity prices in US dollars, We raise in UK pounds and we spend in Euro's and publish our accounts in the UK using Australian Dollars. This we believe simplifies things for our investors. :-)

Thing is MM
Football is a business and and a lack of success means you are out on your ear.
EUZ is just a game .. :-) Don't feel to sorry for him, He gets a £7.5m pay off . We reward failure in the UK in football and EUZ. And dont get me started on Priti Patel :-)

It wouldn't surprise me Bricks however 90% of trades are £1000 or less. I very much doubt if these are shorters. That says to me the small holders who are going to be PI's are deserting ship. I dont mean to belittle these guys, if they bought £10,000 worth between 2018/19 they would only be getting £1k back today.
No i think you can dream up a dozen excuses for this mess and lets be clear, it is a mess and this weeks strategic update that failed to address most of the problem/questions here like how's the PFS doing ? is it funded ?, when will it be published ?, will we also need a BFS ? and so on doesnt help. My guess is having completed the ground work they have found themselves completely inept at the admin so are trying to rope in others to try and sort "the mess" out and sell toral. Meanwhile the BOD who are twiddling their thumbs need to justify their existence so are looking for another project.
Am i being unfair? Who knows ? probably not the BOD which is why they are carrying out a remuneration and expenses MOT on themselves.

Anyone familiar with this scenario of a placing pre announced at 5p ?
The SP has remained at 5p despite over 1.5m sells. Now you would think the SP would tank as soon as the second placing shares are listed but then why would the MM's be buying 1.5m+ if they thought the SP would tank ?

Remember if it hits 12p that would be near the equivalent of 18p before dilution this time and it hasn't hit 18p for a couple of years (bar 2 hours) :-) .

Ha ha yes but if it its 12p again i will not be hanging around to watch it go down again for another placing thats for sure..

In the last 8 trading days i make that approx. 1.5m sells and 17k buys.. Just saying so that next time someone says the SP dropped on a £50 trade you know to look at the bigger picture.
Good news is the MM's still seem happy to buy, bad news is they wont give you much :-)

This what i posted 30 mins before this RNS

There must be a plan somehow to realise some financial return from Toral otherwise this whole BFS thing, the new project and the new strategic direction is un-fundable. Why else would you declare a new strategic direction, that on the face of it cant possibly happen without more finance, and a lot of it ? Even another placing after they get the permission to place another 50% after the AGM would hardly be more than BOD remuneration and working capital for Toral.
Basically ,in a nut shell ,they would be dramatically increasing their overheads while reducing the amount they can raise as the SP collapses.
Something really doesnt add up so their must be a massive factor we are unaware of in the pipeline.
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Does anyone now feel more at ease or confident ? I dont.
I appreciate what Shed says about new money coming in at 5p however every placing before has included new money coming in at a discount and at a price above todays. They got it wrong just like the rest of us,

I'm pretty sure they said a while back that a PFS would be all they needed, hopefully that will now be covered. Their attention seems to be focused on another project now so i doubt Toral will go to a BFS but who knows.
There must be a plan somehow to realise some financial return from Toral otherwise this whole BFS thing, the new project and the new strategic direction is un-fundable. Why else would you declare a new strategic direction, that on the face of it cant possibly happen without more finance, and a lot of it ? Even another placing after they get the permission to place another 50% after the AGM would hardly be more than BOD remuneration and working capital for Toral.
Basically ,in a nut shell ,they would be dramatically increasing their overheads while reducing the amount they can raise as the SP collapses.
Something really doesnt add up so their must be a massive factor we are unaware of in the pipeline.

I think we can differ on that unfortunately.. On past accounts we can expect the £1.2m we have will barely last 6 months, if they make the proposed acquisition i doubt it will last more than 4 months.
The unknown (which is just about everything) is the possibility of some sort of return on Toral.
LR does say he thinks the Money raised will see then through the next 12 months ( if no acquisition is made ) but if no acquisition is made, where does that leave his "new strategic direction" ? None of this seems thought through on the info we have so far.

Philosophical

you say" It is hard to see much downside over the next 6-9 months."

do you need a hand ? :-)

Teaye
Its not about what you achieve in 5 years so much as how that translates in to a return.
The problem here is the return is shrinking by the year at an unnecessary ( in my view) rate due to placings held at year lows
Share holders simply couldn't be expected to top up at the rate of dilution here so your stake is diminishing all the time. The real problem now is rather than just being par for the course with a speculative miner, financing is being seen as unnecessary due to a new "strategic direction" that remains a mystery and with no hint about how they are going to fund it and if they do fund it how they will fund Toral. As remuneration also increase massively above inflation that also has to be funded and is fast becoming the major expense........for what ?

Teaye
Its hard to judge then on what they "might" do when you have 5 years of evidence of what they "have" done

The bottom line i expect is
While some will talk him up, others will talk him down and the only one who really doesnt care is probably LR himself. I'm sure his priority will be his corporate backers. He knows the PI share base is far to fragmented to hold him to account. DB (and others) though ultimately will.

Absolutely Prop
Its a common mistake people make on the AIM to get "Emotionally" involved in a stock and its quite easy for directors to pray on that. Your investment needs to be a clinical financial or business decision. Its great shame personalities are even considered in the equation. The company must be judged on the financials and performance...

The angst is directed at LR because he is the public face of the company. As has been said a 100 times its not the ground work at Toral ,its the management of EUZ. The ground work is good and it should lead the SP but its never been allowed to because of poor PR, dodgy tweets and podcasts and frankly, doubts about the truth of a lot of what's said. That really shouldn't surprise anyone as its discussed daily.

or here

https://www.proactiveinvestors.co.uk/archives/niche/categories/small-caps/53

I know, cash rich because you made a profit and cash rich because you mugged the shareholders is not quite the same thing. :-)