Member Info for Jackbal

Seingred - not too shabby. Mtro best performer from trading lately, Altn my best current gold play Been nipping and tucking on Kod which I mentioned here but won’t elaborate further at a time like this….

Bod expect credit for getting the primary project back which is absurd. Omi get back 100% of Anza but old OMI holders only retain approx 75% of Omi as they have had to endure two placings just to get it back!

It’s like a new central heating system. Nobody really wants to pay out to maintain a status quo. It’s cost holders 25% of the equity just to get back to where they started.

No wonder bod have no real skin in game.

Seingred - good call by yourself only putting very small bets on this

Some here were saying that pepas would be drilled before a placing 100%.

I can only assume that was implied to them by bod.

Beggars belief Seingred!!!

Joking aside anything less than significant size purchases would have been ridiculed.

They probably concluded They might as well keep their cash as they weren’t willing to put in enough to change perceptions.

Even if Brad doubled his holding the numbers would still be SO small it still wouldn’t qualify as skin in game.

I guess the bulls will now start painting this extra dilution as a positive. Personally I think it just shows desperation and no conviction from Bod.

As I predicted - back to TP with more warrants. Now has a warrant wall in the 3’s too.

The only surprise for me is I expected bod to participate in the placing to pretend they were interested in the equity

LW good points on governance as this is certainly not behaving like a cashed up explorer with drilling soon.

I always had doubts about the fact that 2 million bucks of sale proceeds went directly to Mozambican subsidiary Explorator?

2 million bucks in xtr coffers would surely have helped xtr mcap.

Am I being too simplistic in thinking proceeds of sale should have gone to the shareholders that sold the asset?

There’s prob an explanation but I can’t figure it out.

The problem with delays is not just plain investor impatience. If drilling doesn’t occur until spring that’s 6 months worth of cashburn too so much of the inbound cash from Manica sale gets p@ssed up the wall on non value enhancing spends such as wages, Admin costs, expenses whilst sentiment builds to intolerable levels as the perception of f all happening on time other than director paydays grows.

If they don’t start drilling soon (and I suspect they won’t) that’s too much time and money wasted.

The phrase time is money can be perfectly applied to explorers.

No prizes for guessing who Smithers would be in that scenario

It’s a terrible reflection on the state of play when the CEO says less than 2 months ago

“we expect to commence drilling before the end of the third quarter this year.”

And the wider market completely ignores this and even his own shareholders do not believe him. Should change his name to Colin Crywolf. Has a certain ring to it.

Or maybe Mr Burns?

Hope everyone else who was buying in the 30’s skimmed some off the top or at least thought about it.

Not taking profits myself but bringing my average on remaining holding down to zero.

How poor were Barclays analysts downgrading this stock in the 30’s!!!!!!

Also been buying more today and will buy more if it drops into single figure sub nominal value again.

Past no guarantee of future but last time I paid 9’s I got 200% quickly.

On one hand Newlands last shred of credibility hangs by a torn thread.

On the other hand he’s had more time an another over 8 million funding.

Expecting him to at least pump it up again

If Newmont fully concurred about El pantano why didn’t they take any stock in the placing at 2.95p? Why didn’t the directors participate at 2.95p? Not having a go doc, serious Q and one of many reasons I sold out.

Seingred it’s a very round number (NPV) but I’m guessing you knew and just keeping Moo on her hoofs

Imp although I might have been one of the most cynical i don’t think bankrupt as Brad can’t carry on taking 180k usd per annum plus expenses in that event.

However I do think he will give away a big chunk of equity around 2p and keep the gravy train on the tracks.

Even if he raises a mere 1 million it will cost shareholders around another 20% equity on top of the 10% he already gave away in Feb. Of the 1 million he needs a big chunk of that for wages so will just be more BS and can kicking so he can hold on to his fat salary at the further expense of his long suffering poor shareholders.

But hey it’s not his fault and it’s out of his control so that’s ok then.

Lies in webinars, lies in rns.

The epitome of daylight robbery

Sorry Imp it was meant tongue in cheek but insensitive on reflection.

Glad to see your so cheerful Imp. Touché

What a long post of utter Bolleaux

If you are that obsessed about Anza then you first need to focus on OMI balance sheet.

Position yourself after the next dilution which promises to be ugly.

The buffet quote is laughable - he invests in profitable business with positive cashflow and compounds interest - can you spot the difference?

You really do talk a lot of Crap. If they were drilling they wouldn’t be keeping it quiet as it’s their one and only real catalyst.

I hope you are here for the next liquidity event but you are looking like someone who is trying to lure the stupid so SP Is pumped to get next placing away.

Or let me guess, little old moo who only posts on one stock is a guru and the only one intelligent enough to see what a thoroughly good oppo this is and the market is wrong. Hilarious

It’s not ludicrous for people that have lost money on Brads BS to be genuinely annoyed by fact he has been paid hundreds and hundreds of thousand pounds without backing himself financially to join the debate.

I comment on other stocks much more light as I don’t feel they require same level of scrutiny

The long term bulls who appear willing to endlessly average down reminds me of when Scotland decided to build a new parliament.

The budget was initially 40 million but ended up being a badly run project that cost 400 million.

For the politicians it was less painful to just end up building it at a cost of 400 million than admit to the public and possibly themselves that the project was out of control.

For accuracy Brad’s salary was 150k Usd, the remuneration committee which is comprised of his old pal Louis and Nick von decided it was worthy to raise it to 180k usd couple of AGM’s back.

Have you even considered they get it back without compensatory cash?

Have you considered the dilutive impact of that scenario?

Don’t forget they don’t just need 500K per annum for salaries alone, they said they are drilling Argentina and will spend millions in Nigeria.

Not binary really, the bod will continue as normal and start swapping out big chunks of equity for little cash amounts.

They have no stock of their own to worry about so who cares.

They can continue to prosper at your expense.

If you are betting on them getting more from the majors on top of the 2 million good luck with that.

I won’t comment if people stop defending the indefensible.