Member Info for honestbob

Must confessed mildly disappointed but not greatly surprised

I know little or nothing about mining but I do think that sometimes a second or third best plan actually put into operation Is better than the best plan in the world that is constantly updated and never leaves the drawing board

Especially with each year that goes past sees interest rolled up in this case to Juno and other costs mount albeit modestly.

I understand important to get it right but in my opinion equally important to have enough income flowing as a minimum to cover costs . Then the company can explore whatever options it wishes to indefinitely.

One hopes with the further scoping etc . that the board have established that continuation until then at least is feasible

Trev you are right again no need at all for forensic reading I cannot see anything of great consequence that has changed since the last report

Although I do have to say that you are begining to remind me of an old testament prophet whose direst predictions are coming to pass

Juno ROI is an interesting subject I cant remember quite what they have lent so far - but I think the debt would be covered from a sale of the site - but their potential largest return which would be very significant would come from operations commencing and the value of their holding rising .

If I were then and looked at it ruthlessly I would take the line that provided the net assets of the company covered the value of the loan I had put in ( where I think the interest rate from memory is quite high )I would continue support until that debt got close to the net asset value .Up til then I would not have any serious risk but would have the potential upside of significant return on the shares if all went well.

Perhaps a pertinent subject to raise at the SHDA would be what is known of Junos thoughts if the opportunity arises

I wonder which will come first if at all Brext or Parys reopening

I think you are correct in event that if the report deems Parys not commercially viable very difficult to see where the company would go

Could not see Juno continuing their support indefinitely

I hope this eventually will not emerge but it could

Realistically this is why the shares hover at about two pence - there is a very real but hopefully small chance of a total wipeout on the other hand a chance ( I believe ) of substantial rise.

Like most shares I would suggest not a place to have more invested than can afford to lose

That said I have had mine many years and increased the holding when price low as I think possible return justifies the risk in my n individual case but this is not the same for every one

I agree with you totally and would go a bit further I don't think that QME would have started at all with them standing significant costs if at the outset their belief was not that there was a very good chance of viability. That is not to say that their conclusion was correct or that if it was finance would be available on conclusion.

From what I can see of their background they should have been well qualified to make this decision at the outset .

Hi Mike

If Google quarry and mining equipment limited no 127533

It will with a bit of juggling get you to some abbreviated information for the parent company which does not show on company's house beta as it is based in Northern Ireland.

Still not big enough with out outside finance but substantially more assets than subsidiary company on the link

I looked at the accounts on the link and was bit concerned but images of Brent's big yellow and red machines popped into my head which did not seem to tie in with the asset values in those accounts.

I think as has previously been mentioned they do have quite close relationship with Boliden which could feature

I also think that they are not a company to undertake this sort of work ,partly at their own expense,without careful analysing of information available at the outset. We know that Parys has been analysed previously within an inch of its life and QME would have had this to hand before proceeding

I am speculating and doubtless T2 will be cross but my belief / hope is that QME are looking to confirm in detail and extent what is largely known already but to a degree of detail that would be aceptable to a lender or venture partner and also produce the best way forward

The Aym board are not known for making many announcements at the best of times and I would be surprised to see them issue a survey update with the financial update due a few weeks later

The board lack of enthusiasm for updates is not ideal but I don't think they will change now

Hopefully a few weeks and we will be a bit wiser

I

I couldn't resist there is no trev 3 but interestingly there is a trev and a trev 1 but they do not post

That is not to say they are not keeping an eye on those they disapprove of which I would imagine would especially include Brent

Food for thought a trio of trevs

I think realistically we will not get an update until the end of July financial report is produced but that is not far off

Sometimes I wonder if the Island and parys are in a slightly different time to the mainland
We can only hope that when production eventually commences that it too will go on for a lot longer than predicted

apologies should be 42 not 52

Thankyou for your kind comments

If my calculations are correct I think we can draw comfort that uniquely amongst FTSE shareholders we know price of our share in grots - one and a half at present

Thankyou for your kind comments

If my calculations are correct I think we can draw comfort that uniquely amongst FTSE shareholders we know price of our share in grots - one and a half at present

There were 240 old pence to the pound. So each new pence is worth 2.4 old pence pence if multiply by current share price 2.5 new pence then re pricing in old pence gives an old six pence per share. So if you multiply number of shares by one and a half you will have the value in grots or if divide by two value in shillings. Or I think divide by 52 to give guineas.

Trev I am very sorry I could not help myself present price made calculation too tempting

Your 16.35 post gave me pause for thought about a corbyn government and I totally agree main parties sadly wanting and I am not sure any of the others are any better when it actually comes to doing anything rather than talk about it

Mr Corbin just scraped through Peterborough by election against party only been in existence few weeks with thousands less votes than before and thinks this is a memorable victory. Dismal performance in EU and council elections and lost last general election .Lost his own vote of confidence All of these failures he does not seem to acknowledge . Even so his every second sentence seems to be wanting another election.

Win or lose difficult to see how his input could really be if great help

I trust this exercise is an integral component of a coherent plan and not just an ad-hoc request for “spending monies”.

completely agree

Brent like you I was astounded at what he had done and his obvious exuberance - I do have an interest in history and whilst I had heard of him from Waterloo I had no idea at all of his amazing and colourful background - I have only seen the wikipaedia summary but I am go look up a bit more about him.On its own the number of famous battles he took a significant part in at diverse locations is fascinating. Clearly it would seem also to the ladies of his era.

The quality of the opposing cavalry forces that he engaged and beat I found fascinating
I think I saw a quote from him that after the loss of his leg he would step aside to let younger men have a chance
I would like to come in september but I am trying to work out if I can juggle family committments

Brent once more you bring some culture and historical background to the board. I was fascinated and wondered if the seduction took place before or after the amputation.. I would strongly recommend two minutes on wikipaedia for a life story that is remarkable

Whole of Brexit in my opinion is like

a dreadful Groundhog Day - only real benefit has been to clearly demonstrate the selfishness incompetence arrogance and I am afraid to say stupidity of a large number of our elected representatives

Fair point I has missed the post about the three thousand pounds - and stand corrected that certainly would tempt most very small businesses

Personally I would not think most small businesses would undergo all the hassle of changing banks even for a few hundred pounds. Unless the service they were receiving from RBS was not satisfactory or there were to be ongoing saving in bank charges.

So as long as RBS charges are competitive and service up to scratch I do not think they should have a lot to fear from this. I suspect the incentives will simply go to those businesses who would probably transfer anyway.

I think this might be a two edged sword. Clearly when mine is close to production the higher the price the better.I do wonder if high price now runs risk of bringing mothballed mines back on line or indeed new ones - meaning that supply will have risen again when Pays is eventually producing again.

Regarding warehouse stocks I don't think I totally understand it - I don't think it can be that the figure LME quote is world present total surplus or unused stock.It is just too finely balanced. I wonder if it simply relates to that which is available for purchase as opposed to hat which is in stock and subject to forward sale contracts.