Member Info for in4cedros

I'm delighted Mrs DV has expressed her confidence in AAU - probably inspired by the thought that a cash flow positive AAU opens up many future opportunities to benefit.

What's going on here today - no bleating or ******** - the weather's changed soon be time to break out the Cuprinol!

Levi - if you tell me you're still in I accept what you say - was just having a gentle leg pull as Rub�n isn't usually the board joker so it did tickle me at the time - apologies just my SOH!

' there is ' - apologies!

Levi - it's a public chat room - I defend to my death your right to speak but I don't have to agree with you and if I want to argue with you I will. Everyone has their own reasons and thresholds for buy/ sell/ hold - it's what makes the market interesting. Unfortunately I've assured Em I'm going to be mutton Jeff to cries of AAU bod injustice after today - unless their is a nuclear development so each lamb will have to take it's chance - ATB all shareholders ! Still hope to see you sometime for some decent Northern hospitality but will keep my windows up on the way !

Levi, Levi,Levi - it's difficult to know where to start with you but it was astute of Rub�n to notice you'd sold your complete holding in AAU a few days ago LOL! Everyone has their own agenda and until the snouts in the trough business over the bonus I was happy with the way Kerim Cuprinol had conducted business, including raiding cash through Placings as he had little realistic alternatives - Open Offers without underwriting can be problematic and the Placings as a % of MC were not huge so dilution not outrageous. Shareholders normally think bod could have got a better price or timed it better - the delay in mine opening wrong footed KS IMO and with 20/20 it's easy to say he should have called it differently. I accept those risks as part of the investment along with plenty of others like should he hedge against a fall in POG etc. Turning to the bonus as I've said before the amount in relation to MC is tiny so most shareholders are probably not bothered- I'm not concerned about the options as an incentive - but I didn't liike the way the bonus was announced and although I congratulate KS on getting the project through the timing was lousy having regard to languishing SP. I would have been happier if they had put these bonuses and options up for a vote at the AGM then if they passed the vote I might still be mildly upset but at least I'd know the bod had the confidence to take it to a vote - I would then have less of a case to suggest we might see their mug shots again in the AIM life style hall of fame!

Emily - not at the moment but I don't rule out re-entry because this share bonus is not hugely significant in terms of MC of AAU - it just touched a nerve for me. Don't worry though I'm not going to saturation post about it, after today! Wilts - you mention bleating - I'm just ' saving ' shareholders from being lambs to the slaughter the next time the bod fancy fancy filling their boots with shareholder money - didn't ithe absence of future bonus payment rule out ring any alarm bells ! It should with you because you seem sensitive to alarm bells on the world stage - some people got the Impression from your previous posts you would be happy to see a mini Armageddon if that ensured POG increased!

To be even more fair - he's got plenty why did he feel the need to redistribute money from other shareholders to himself - obviously didn't need it to makeover a 30 year old kitchen !

Risky business this director share purchase ( unless you'd just got more than that as a bonus paid out of shareholders funds !)

Patters - I hope you are right about them learning a lesson but I'm not convinced as the staments from AAU do not suggest any contrition despite the deputation from disgruntled shareholders. I would be amazed if Kerim didn't discuss with fellow board members something along the lines of ' many shareholders have been criticising me for a long time about how I run the company and it's impact on the SP - surely this bonus is going to make it worse ? ' - I further speculate he was comforted by a response on the lines of ' don't worry about shareholders you've had their money and now the mine is built and producing enough money to repay the existing loan, well placed for additional finance to afford planned expenditure on expansion, a bit of exploration on Salinbas and probably some extra cash, some of that can be used for more director bonuses later, which can be justified with some milestone event - you can be seen to be doing what you've said and you've done well so don't worry about negative publicity - after all shareholders want the SP to rise don't they! ' My concern is they took the bonus when the SP was languishing - shareholders had taken the risk / reward but couldn't just vote themselves some extra cash out of the blue - I'm all in favour of encouraging management with share options but this redistribution of wealth with bonus does suggest ' life style ' to me and I'm not confident it won't be repeated now that it's been accepted - is management aligned to shareholder thinking? As I said before I believe the fundamentals are good for AAU and I wish all shareholders well for the future !

VanVan - I'm a bit surprised at your goad target - you must have been really bored with the silence - I'm just off to my bunker to hunker whilst this plays out!

Patters - good to see you've researched management - that quote from the rns was included in response to a meeting with disgruntled shareholders post the bonus/ options announcement - even then they weren't prepared to rule out further bonus payments if you study the text ! Still plenty of info not being revealed - perhaps they are afraid people will try and calculate a proper forward cash flow and start thinking that surplus will move in the direction of shareholders not management! Good luck with your investment - I had high hopes this was not just another life style company - I might change my mind but I'm still reeling from that redistribution of company funds into Kerim's pocket - if the SP doesn't take off and Kerim gets a bit short again the remuneration committee are likely to help him out yet again - there's always some comparator they can cite to justify it !

Wife & kids on gruel ?

BlueHaddock - welcome to the board as a substantial long term AAU holder you missed plenty of opportunities to comment on the ups and downs here over the years - seems Bitcoin has ways of making people talk - some wanting to sound the death knell for conventional markets no less - thanks for the warning - I'm thinking of changing my moniker soon to done up like a kipper!

Joebop - as you know I do like to keep my readers amused - at one time, you may remember, there was talk of my appearance at The Fringe! How about this for a joke (clearly not AAU related ) - greedy director takes son to see first pour of gleaming dore bars - says to son, ' one day all this will be yours' - son says to dad - ' I thought you said these bars belonged to the shareholders you work for ' - dad ROFL uncontrollably - ' that's what they thought! ' - boom boom !!!!

Wilts - don't want to be the party pooper and I'm not saying shares are not good value at this SP but in reply to the question in your heading I would mention that you might have missed the fact that ordinary shareholders can't just vote themselves some cash to top up the holiday fund when SP performance has been negative as occurred here recently! These directors saw those gleaming dore bars and there was speculation that one joked - 'wish they were mine! ' hahahaha another said - ' they could be! ' hahahaha ( just lmagine Cadbury Smash advert ) - the rest is history!

Deano - they have taken money from shareholders to line their own pockets now - they don't need to know anything to do that - if it had all been share options ire would have been muted - are they going to repeat this every time they achieve targets? This is not a covering in glory event but fundamentals largely intact so SP opportunities remain.

levistubbs - don't feel inspired for mirth making currently although I had a good laugh at your nit picking on the implications of the summer solstice ! For the avoidance of doubt on the topical matter consensual would have been my preference!

4kandles - glad to refresh your memory on 01/02/2017 you were having a hissy fit about the delay in mine completion you told us- ' As a shareholder of AAU, one of the things I buy is a voice. I can use that voice at AGMs if I want to , I can also use that voice here or wherever I like. The management ( should ) work for shareholders in any business.If they don't you get them ousted. I hope you understand this. ' Perhaps you can explain why somebody would post ' if they don't you get them ousted ' if they had full confidence in management - unless they were a ' sand wedge ' short of a picnic! I rest my case!

4kandles - for the avoidance of doubt I have never self proclaimed in the manner you describe and I'm disappointed you feel the need to present your inferiority issues to the world in that form. You wanted Kerim sacked when the mine completion was delayed but seemingly remained a shareholder even though it was quite apparent that wasn't happening - he was still working on the 100% Salinbas acquisition at the time which you appeared to approve of after the announcement- Kerim is building value for the future - if you don't see that it's your prerogative to move on - that I still think you are a 'sand wedge ' short of a picnic is surely not of great significance in the history of AAU!