Member Info for Jackbal

the whole options package and 30k payrise seems even more inappropriate now.
I guess Brad knew he would be unpopular either way so if you can’t please anyone else might as well please himself. Hung for a sheep as a lamb

Annoying rns.
Either the contract is significant and required an rns in which case is should have a value
Or the value isn’t significant enough to mention and rns just seems a bit desperate
Not surprised my the SP limp reaction to it

Sorry guys forgot I even said I’d shut up until April.
My bad

It’s not binary, they won’t go bust. They will just screw vast majority of existing holders by giving away most of the company to new holders at bargain basement due to their total lack of financial planning and no strategic plan to increase SP.

Everyone knew their plan was going to be too horribly dilutive, they were informed by more than one. They went ahead and did it anyway

Dozer if they now give away another 30-50% equity on top of the 20% last time round by the time anything remotely value enhancing happens the holders that have backed them with about 5 million gbp will hold such a thin slice of equity they will be lucky to breakeven in a success case…
I feel like some are not fully understanding how they are being screwed out…

Let’s say they have raised 5 million since 2018
Approx 2 million spent on wages
Approx 1 million spent on admin costs, nominated adviser etc
Approx 1 million on early stage geology which might be necessary but is not valid enhancing

When you realise only a v small % of funds have been spent on actual value enhancing activities it’s no surprise the SP has collapsed and the market prices is at a lifestyle POS…

Strong finish to the week, bodes well for another leg up next week imo. Hoping to de-risk around 26

4/5 weeks to go and last rns doest even mention “negotiations”
Weakest negotiating position I can poss imagine as well but I’ll shut up again till end April

“A better share price for all” sang the chair lady
Or a worse number of shares for all?
Bob goes on about the “small” raise they did but 20% of the company is a “large” chunk for 600k
Unabated success, demonstrative confidence,
All looks like total total BS

4-5 weeks until resolutions.
Is he really going to ask for a capital re-organisation and re-election to bod at same time?
Will he get away with it?

Maximum pressure on bod due to their own stupidity not acting sooner when every man and his dog knew what was coming

Hand raised (although I think one of them should walk, no prizes for guessing who)
Hawaii makes a good point that this tiny little co. Is buying through approx 500k in wages each year, how many shares does that cost?
It would be 600 if not for SS and then they try and actually take some credit for it!

Kutzz it’s not unthinkable that a large holder or collective group of holders requisition an EGM and insist on replacing board members.
Livesey must have a short memory as this is what happened at Ormonde where he was ousted…

Kutzz glad you still have a sense of humour. Respect for that

If your collateral is your SP no1 priority surely should have been creating value in the SP. Not imaginary value you claim exists but the market doest recognise. Waffle waffle waffle
Quite how they were going to do this I don’t know but issuing billions of shares for salaries and walkabouts wasn’t the answer as I’ve stated repeatedly over last 2 years.

That’s why I have said they didn’t care about SP because they were issuing billions of shares to pay for things that don’t add value to the SP,

Its also why I was so vocal 6 months ago that you really had to choose between the cfo or your money.

Whether he was demonstrating breathtaking naivety or thick skin outcome is the same.

If he’s driven this into the wall he should go, shouldn’t be allowed to keep his dreams alive and 6 figure salary at the expense of those that backed him.

Squeaky bum time Bob. You better pull something out of it

If/when it happens I’m sure everyone can take great comfort from “optionality”
The same old people will still be scratching their heads wondering why Orr has been treated so harshly by the market after such an enormous mildly positive amount of early stage geo data and giving the bod credit for salary sacrifice oblivious to the fact bod decided to burn much of the 5 million on non value enhancing activities.

I’ll finish with a view from Bob
“Early stage exploration doesn’t really improve mcap”

Definition of insanity again?

Here here

One thing for sure either Hawaii or myself going to have a lot of egg on our face v soon.
As I said if its me I won’t post on the stock again as it would be obvious my posts add nothing of value to discussion here.

Roughly and from memory Orr sold approx 12% for less than 200k
Don’t quote me precisely but it’s all in rns somewhere

Or to be fair the stake in it?
Don’t want to be overly negative for negativity sake but the tembo transaction if anything imo was Orr bod selling out for a few months salary before the action occurred.
Sure the same old people will accuse me of doom loop posts totally oblivious to fact it’s bod who are quite literally totally responsible for this corner.

Blaming negative posters is blaming symptoms for Illness…

And how much did they get for Tembo?

Put it this way can you imagine how utterly ridiculous they would look if they were still claiming they want to go it alone?

Or

If they sit across the table to negotiate project finance how are they going to persuade someone to stump up a couple of million for a piece of a piece when the sum total of Senala, legacy assets and whole of CLP plus few hundred k cash valued around 3 million?

“Speaks to the value add” come on seriously

Bob really has himself in a pickle now because if he can’t get a JV he will have to re-organise which requires voting approval.
Bod re-election necessary too so in the same resolutions he would have to ask shareholders to re-approve him whilst he gives them another brutal and probably irreversible haircut.
He will need turkeys to vote for Xmas