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re mogwhy: precisely and of those Q3 - Tarouca exploration licence renewald,.....Sao Martinho trial mine....Production hardware at the various sites or accessing nearby plant.... Brownfield or prospect acquisition.....5.3m grant paid of which he has aleady taken a 3m + loan and is paying interest all cost the company substantial sums. The loan indicates the company doesn't have great reserves of cash and needs to raise money to achieve its potential. In the short to medium term that doesn't drive the SP. Parilla and Regua are the good news, there are still a lot of irons in the fire
Guess you weren't meaning that kind of blue
Guess he won't dump the price down before the AGM. The questions are :-
when will the company be cash positive ,
does that include further exploration and ANY development costs
,are there any prospects for future acquisitions,
how are the above likely to be funded can we expect further dilutions
what further consultancy fees can be expected, who was the company or persons the consultancy fees paid to
at what point does he bring the number of shares down and make the company more investible by institutions
apart from production what other strategies has MM to drive the SP after the long deterioration of the initial price following a long period of warrants loans and huge dilution.
There was talk of rewarding shareholders with gold stock which quite rightly was taken off the table at what point can shareholders expect a boost to holding this stock ior will cash be better reinvested in the company.
Olde I'm with you on this one
Following RNS was quite sure there would have been some kind of an announcement to drive the SP down, still there's Monday, then again just announcing a new broker on board isn't cash in the bank so no reason to issue further warrants/shares/raise loans. Wonder how much MM got in consultancy for recommending the broker?
Does anyone else find the 24hr difference in the +ive news followed by the deflationary warrants news a means of screwing the ordinary investor. Both are inside information,the obvious outcome is MM et al get low priced warrants. 8 to 10 months to deliver on Parilla what then are we to be hit with funding , dilution and warrants as other prospects are bought online or will it be acquisitions and further prospecting or failing to develop a prospect within the time of the license ....Ah the halcyon days of turning over the goldmine to the current investors for free , it was a foolish suggestion and didn't come about. MM needs to get his finger out. We ware currently cash poor , we urgently need to know the situation regarding the cash situation , always on the verge never quite there . and the sp always deflated by MM
6/7/8 years is patient first ink-lings of the malfeasance and duplicity of MM was at London Presentation when he looked disconcerted when dilution was raised as an aside , he slipped the question. Since then he's scuppered every move to a higher SP ....him personally...HIM
no more placings, yeah right. But can we expect loans and early warrants indicating our golden company has cash flow problems No salary, but consultation fees and shares , MM is building his nest egg
Now we've had the glut of positive news(lol) and MM has deflated the SP with early warrants and the contractors have screwed the site installation resulting in slippage (apparently) we now have to wait another 10-12 months + slippage for the next round of news. Meanwhile we are being kippered with another loan ....even at preferential rates it costs us cash money... . Meanwhile the head and shoulders and the new news gap indicate a fall in SP and the confidence in MM , the guy who doesn't deliver what he says , continues to slide , no wages but consultation fees, happy chappie plus continuing share awards, even happier chappie . Can we go sub 0.39 p , on the evidence definitely . There is obviously a financing mismatch. Currently the firm needs to finance the running costs despite all the pumping of ggod news tomorrow . fed up , p1553d off, not a great return on 6 years investment when previously I was making profits in 5 days and my best turn around was 29 minutes
take no advice from MM about the immediate potential for growth or results and your leylandi should be fine
They will sell enough shares to cover the deficit and their charges in the transaction so certainly not one share of Wres as they'll be charging a £10 upwards for their services certainly over a period of years the broker charges on holding Wres have mounted up, something that's hardly ever discussed
Safety....let's hope he doesn't keep to the pattern of slippage he's so well known for
Richard......as a long term holder there have been 4 Augusts, 3 xmases a multitude of this time next year so many of the new dawns scuppered by MM and slippage with promises not met and dilution. If only the man would under promise and over perform there would be a lot more contented investors here. As for that much promoted lack of salary. It would be informative to know who the consultation fees went to. The supposition is MM but the RNS was less than informative
or Powers?...Worse...Poser-for MM interviews hairflick , smile, er, open necked shirt...or Repo in trying to get the investment cash back
or the copper is yet another oversight on the part of the company. Then again perhaps just an aspirational RNSi.e. We'd like to look for Copper, whilst Tin is just a by product at Parilla and despite the very welcome income....(one day) isn't worth mentioning. Does anyone else feel overburdened by the flood of information? One step at a time
Nice to see the intellectual investment side of this board triumph as the scales fall from the eyes regarding some of MM's decisions/actions. Some BB's just turn inwards and rip each other to pieces. but not here eh, 'cos the whole motivation is making money, knowing the stats, doing the maths, understanding the story and having a management team that's honest and trustworthy. I guess we're in one of those two out of three proverbial situations
C'mon the man didn't take a salary so he found an alternative method of building a pile of cash. His options are ramping the shares to 20x the actual value or selling the company.having built a huge personal percentage of the company It's an old and trusted method of various , 'I take no salary love me' AIM CEO's I give you Magnolia Petroleum CEO. Whatever, the long term holders who have themselves built a substantial holding are quids in. If they can continue to hold and survive till the ramp !
Welcome to the club HpBob
re earlier posts.....Lost interest in researching here, too much going on with family members falling off the perch, new foals and sales . Just topping up a grand on the 3rd day the CCI turns red and below my average. MM has consistently spoiled the upward trend with 'News' A long time ago said there were plenty of ways for MM to make cash out of the company besides taking a salary. He keeps building that pile, for that he needs a low SP. I would guess at least 2 years away from dividends but projects beyond P & R could swallow that......Or he could just sell up
I've looked back can't see any ref in recent posts regarding micromanaging Parilla by MM or his employees, just saying
The issue is there is not just one project , it has expanded to 5 projects , Parilla within a year away- its always seemed a year away for so many years. Regua another year, others require funding.Immediate proffits will fund the loan Bob I gave you a list of possible funding issues you seemed oblivious of the possibilities and yet we had the early warrants. You seemed quite upset at the time. I believe I also offered slippage as an issue and here we are . slipped. We are looking at projects slipping off into the next decade with the possibility of further acquisitions. and another recession within the next year or two. As always MM needs to up his game and stop bigging up the company and deliver. Fed up of waiting for even Parilla to bear fruit