Member Info for Jackbal

2x900k / 1.8 million
188 million shs in issue

They’ve just awarded themselves another 1% of the whole company at whatever price they fancy…

It’s such a liberty I almost admire his brass balls.
After the year we have had which has been a disappointment he not only increases his salary by 30k he gives himself and Louis 900k more options each.
For what? Not a single shareholder would say Brad has performed well this year…

Best case scenario I think is that investors get assurance from Brad and Louis that they will fix strike price at a minimum of 15p or something to cushion the insult..

Bhar - Just going on what is says in the circular.

Imo there are better times to come v soon for traders but I just struggle seeing the big blue sky outcome because all the crap Brad has wrapped around Anza.
If he plans to re-invest Anza sale proceeds in arg and Brazil then those JV’s need to be equally successful for it to make sense for shareholders.
(Whether it makes sense for Brad on 180k per annum and shovelling options his way every year is a different matter).

Agree if you are going to be “invested” and have concerns about running of the company you should attend and make Bod aware they are accountable if they are just going to constantly help themselves irrespective of shareholder value.
Anza is becoming the Brad George benevolent fund

Hi Bharghav

They were uploaded on the Orosur website today or late last night.

I only have 162k shares myself now that I’ll be trading out on news but if I still had over 500k shs and regarded it an “long term hold investment” i would attend agm to try protect my capital

Brad really has no checks and balance on the way he is rewarding himself.
V greedy with Omi collateral and V frugal with his own again

So Brad increasing his base salary from 150k to 180k
and giving himself and Louis another 900k share options on top of the 1.7 million last year.
Seems like his performance target was simply to introduce another project during the year.
No real performance metrics such as Sp or Market cap or value event.

This is why I’ll have a bit of exposure to the assets but not too much because Brad would only buy 162k shares but has gifted himself disproportionate 900k options creating dilution where no value has been created (yet).

Brad taking the p@ss yet again imo

Bhargav yes of course unsuccessful trading will move your average up but I’m saying if you have a v low average to begin with and then chip away with trading you can get it even lower.

Either way up or down it’s not mathematically impossible.

IT IS mathematically possible
IT ISNT mathematically impossible
The example is there for any one with a calculator

It is mathematically possible….
If you buy 10,000 for £1000 your average is 10p
If then buy another 10,000 for £1000 and then sell
for £1200 your net cash invested in Omi drops to £800 and so does your average on first 10000 shs.
Repeat the activity and you keep reducing your average.

Agree with Toon that you shouldn’t believe everything you read here.

If it gets above the warrant price I’ll swing by and say hello.
Good luck

Kutzz just for you I’m going to FO and cast my vote and leave it at that.
I get your point it’s not helping the SP dissecting the CFO is fair enough

Because a proper CFO is needed more than ever. we have a CFO who hasn’t just made a mistake he’s made numerous very costly mistakes and only acting like he cares because the spotlight is on him. Didn’t care last year when everyone warned him.
He should pay the price for his failure or we will end paying even more for them

Ok I take your point that a new CFO might not save the day but we know what Smeeton is about and it takes a vivid imagination to think they could do worse.

How are you going to feel in 6 months? Prob angrier than now but too late by then

Smeeton goes or all your money goes.
Don’t waste your votes if you value your money

Literally none of those activities they mention are going to improve on McAp (Bob has fessed up previously that early stage exploration doesn’t really improve mcap)
So when this 600k is gone I’m not sure if will have a made any difference to the value.

Only saving grace for me at the moment is mcap I’d SO low that iam JV is prob worth that much on its own.

The stock is only worth what Bob can place and he recently agreed with SPA that whole of ORR is worth just over 3 million POST CASH

Bob thinks selling 20% of the whole company at a valuation which is (you can’t make this stuff up!)
less than the cash amount he has raised in total since becoming CFO shows
“demonstrable market confidence in the assets.”

He’s either a liar or just plain old thick as sh@t or maybe both.

I’m voting for a smeeton sacrifice scheme.
Think there will be quite a turn out on this as I’m investors know either Smeeton gore or all their money goes (by dilution)

Questions questions….

1. “IF” you sell Anza will all the proceeds be sunk into Argentina/Brazil or would some cash be returned to holders?

2. How can you describe these other ventures as “feee hits” when there is an obvious dilutive cost?

3. Why are your options so grossly disproportionate to the investment you have made with your own money in the company?

I bet not one of these gets answered

Hi Bharghav,
But it was the resolutions ahead of last years AGM that alerted us to the activity that followed in the new year.
The resolutions should detail what they are awarding themselves (if in fact they are)

Proxy form
Looking at it (in theory as my votes weren’t even counted last year for whatever reason) you can’t vote against BG re election only withold or vote for.
But you can vote “against” the number of 4 directors (prob only way to protest vote)

There is also a section regarding the stock option plan but can’t see specifics of actual option numbers.

Has anyone else seen detail on whether bod are awarding themselves more options? (Would be FAIR given the weak SP, delays and substandard comms if they were keeping their hand out of the option cookie jar this year)

Wonkey I’ve been around. First share I bought was iii GB group when it was 20p
I know how it works.
The problem is AIM is full of masochist investors who will literally put up with any old s@it irrespective of how much their intelligence is insulted comforting themselves
“ that’s just the way it is”
“What else could they do”

The market thrives on that sort of naivety and allows for more of the same.

ALL EXPLORERS DILUTE but few as pointlessly and severely as this one