The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Karl that’s not really giving any examples of anything “done well”. Let’s agree to disagree as I can’t be bothered to make the point stronger by listing more negatives.
The fact all companies have been affected just means some are undervalued and will recover strongly, others won’t. It doesn’t defend the indefensible imho.
Imp fair point delivered, he’s been very slippery with his spoken implication when compared to rns. You can tell he was a broker.
Seingred - thanks for this, will take a look this week.
I will actually be very happy to be proven wrong and made to look a clown myself but I can only conclude that they did this 500k placing in the 2’s because they know the next ANza update isn’t going to be soon enough or provide the relief to the SP so did it to be on the safe side as far as their salaries are concerned.
It really doest make much sense to dilute your only asset of value by 9% to do early stage exploration that carries no value elsewhere.
Maybe he will scrape enough to drill a single hole somewhere to “feed the ducks”.
If TP are correct and no other funds required for 12 months that means no drilling at Anza for at least 15-18 months.
I hope they do need funds sooner to get a drill back on anza because quite frankly it’s the only real catalyst and the only reason the vast majority have been trapped here with the wonky narrative.
How “Delighted” Louis was to move to phase 2 with accelerated exploration activities. Then just put out a care and maintenance rns to gradually lower expectations.
How they thought that was acceptable reporting for a listed co. is beyond me.
Even by aim standards it’s one of the most misleading statements I can remember.
Guess they deserve another payrise
“I think Brad and Louie are doing ok”
Why won’t they invest in their own stock?
Why do they raise on aim when aim holders votes aren’t registered?
Why do they award themselves payrise and options for non performance?
What have they provided in terms of actual value? (Not jam tomorrow, over previous 2/3 years)
Why do they hold AGM abroad but raise money here?
Why have they lied in Rns about moving to phase 2 and accelerated exploration?
Why did they take on projects they couldn’t afford and put balance sheet in jeopardy?
Why did they gain lithium exposure when the market went negative? (Feeding the ducks comments just insulting)
The list of things they have done poorly is much longer but I’ll stop.
Please make a case for how they have done “ok”
I’m intrigued
Turner Pope research is not to be relied upon.
1. They are house broker and get bigger %’s for placings than on market activity
2. They just sold their clients 500k worth, a positive research note is a formality
3. Look at all their previous notes and see how reliable they were.
The fact is they have run the cash down on the early stage projects without return of any Value. What difference does it make whether they went hell for leather?
Still arrived at the sand crossroads with the same winds blowing in their face.
“Each project is at a stage where lower sums of capital can be applied to achieve results in a shorter timeframe.”
Notice the terminology of achieving results quickly rather than adding value quickly. He knows the results won’t add any real value quickly pre drill.
And even world class lithium grades are not carrying value in todays lithium bear market so what’s a guy with a hammer going to do?
Q1 should have been about Anza resolution. Instead we get served this crap
They are not assays from drills. The most positive outcome is that the early stage data is worthy of drilling which means more dilution required first in order to put the value back on later.
He knows fine well the market doesn’t respect or value early stage explo data but his strategy is to give away 9% of Anza stake to complete early early stage exploration.
His comments about putting on value relatively quickly contradict his previous statements on early stage exploration.
This 500k prob covers wages, the rest getting spent on early stage Explo.
Where’s the value catalyst? Getting Anza back without financing for it is just another signal for dilution.
He had a change of winning back some credibility but this placing for these reasons and his non participation in the placing just make him look utterly utterly inappropriate as CEO again
it’s like we’ve been conditioned to expect disappointment where disastrous rns just becomes the norm. then they go on webinars and put positive spin on the crappy rns that they feel covers their ass legally.
slippery, highly untrustworthy bod.
“delighted to move to phase 2”
“we will run these other projects on low cost while we negotiate anza”
it’s just total and utter bull**** not worthy of any further analysis.
just another aussie geo rinsing who he thinks are dumb pom punters. we’ve been absolute mugs to believe anything he says.
read the rns without his snivelling excuse laden webinars and it’s a very different picture.
fools we have been for giving him benefit of doubt when he doesn’t even back himself financially.
anza clearly has the grades but i read a comment somewhere suggesting better to have a half decent asset in strong hands than a spectacular asset in the wrong hands.
They are expert at failure.
Apart from prem league managers who get sacked 6 months in and get paid millions not to do the job I struggle to think of many other roles where you could perform SO poorly and still get richly rewarded. Actually MP’s do and I like and respect most of them as much as these clowns
This also implies (or should imply) Anza resolution isn’t as close as we’d like.
If they resolve it next month it will be ridiculous with hindsight if they placed just before the value was put back in.
Suggests they know there’s no quick return of value coming to me.
It’s become a clusterf@ck in my sincere opinion