Member Info for Jackbal

Yep,

Check AE old address was Jarkta, co-incidence?

The first permit arrived within weeks of the AE 20% after it had been sought for months, co-incidence?

Very fine line between gangsterism and business in those parts

Best hope is that the Indonesians really want this to demonstrate to westerners that it’s ok to invest there.

Tony Manini says JPM sold out because the valuation fell below 50 mill min liquidity level, others here say they were selling strategically abc indiscriminately.

Tony Manini and his team out of their depth, Bird knew this.

He will get what he’s given if he’s lucky. It’s no skin off the Indo’s nose to sell the license to the next westerners that want to have a go, I dare say for more than than AE have just invested.

Rome wasn’t built in a day but I bet they had built a **** load within 5 years

Fair enough updo and not my intention to be confrontational.

It’s just that 2.5 billion shares already authorised and over 4 years the SP is back to where it started. Yes the market cap is higher but so what? Surely the objective of risky investment is to make profit for risking your hard earned in the first place so a higher market cap with a lower share price is completely futile

I’ve held for 4 years and at the start of the period it was already known the area was mineral rich (to put it mildly).

The point is without a partner we’re all just trading water while more of the company slips through out figures.

If the rate of dilution over the past 2 years continued for the next 2 years that’s about 70% less of the company holders from the period or befits will own.

Also the permit situation keeps the assets under lock and key until the power that be decided otherwise.

For me it’s simply time to deliver something meaningful to holders.

Over a year ago Tony talked of value enhancement and then the China non ferrous rns landed and then nothing happened.

If the company didn’t have to issue millions upon millions shares each year just to survive and the recent 20% giveaway could be reversed I might be inclined to agree with you.

However if AE don’t sort financing the type of dilution I refer to is what Will occur so regardless of the riches holders will own very little of the company.

Anyway just my opinion with respect for yours

Because some investors are losing patience and fed up with dilution why do you assume they are uninformed?

Also it seems possible that AE have influence on permitting and that without the necessary influence there is risk permits are witheld.

AE may be Singapore based but before they were re-named they had a Jakarta address....

*sweetener for arranging

Bloody phone

If a deal with AE doesn’t happen they have already been gifted 20%. That chunk of the company has been banked by AE regardless

So another party would also want a sweetener of arranging debt hence further crushing dilution.

The 20% although in my opinion a horrible deal made certain sense to me if it was to make it worthwhile for AE to arrange debt funding and align them.

The problem is it’s hard to see banks queuing up to lend to them with current shenanigans

He’s over a barrel and SP isn’t reacting to a change in fundamentals, it’s reacting to timeframes being pushed further out while the cash dwindles on permit admin. All the while the while the dilution clock ticks.

Tony might pleasantly surprise us but would be a first or at least first time in years!

I expected a positive update but without getting carried away even better than I hoped.

Main takeouts for me:
Cash flow positive may/June
Cash position increase of 600k net after govt add ons.

Hoping for 2p plus today, would love to see market value business at cash in bank on basis it hasn’t been burning for couple of months.

A good update all round

Asking serious questions of Tony looks too little too late imo.

He can’t undo the 20% as far as I know and I think we can now safely say it was a putrid deal.

Can’t be reversed can it?

Might have to Add 500 myself here soon. Getting plain silly when you look at the asset and compare to other aim crap.

Even with JT on board I still say cheap

I know we can all be wise with hindsight and the taste happened close to peak crisis in markets but look at where copper is now.

In Tony’s own words he expected copper to improve from that point so why not back his own judgement?

The only holders that can he happy at this stage with the 20% are Arturnum and the directors who loaded up alongside them.

You only have to work out that they were valuing the whole company at less than 20 million and work out how much has already been spent to understand how poor a deal that was

The 20% could have been 10%

That’s one alternative already that took 10 seconds to work out.

33.5p and I’m selling some. Here’s hoping

Enjoy your weekend pamper ing

**** yourself

I’m not 100% convinced but 99% sure you prob do In fact **** yourself.

“JPM sold out of all junior mining stocks”
Really???

Thanks Adam,

appreciate you taking time to provide the facts as you see them. I’m gone from not convinced to on the fence.

Roll on August

Good luck AC, don’t blame you. Hope your wrong but you may well get chance to buy cheaper even if a deal is reached.

I traded a lot of my stock out around 7/8 and I was actually gutted at the time as had seen value half from 14 and now look where we are!

Bit of Stockholm syndrome on my part I think here.

Facts are true regarding TM experience but also true that JPM were aware of these facts when they bailed out at a loss. JPM, not exactly mug punters are they?

Not trying to de ramp as still holding my reduced position , In fact my agenda is best suited by SP rising quickly but just providing some balance as to some posters including myself it seems TM has dined out too extensively on his past achievements already.

If ARS sell whole of KSK rather than retain a % I would rather he just sells whole of ARS as the initial attraction was that he could get bkm into production quickly and cheaply while proving up other targets including beutong.
Not sure that cheaply or quickly option is reality anymore and although I admire updo’s staying power I feel TM has done little to celebrate.

When I first bought some ARS there were something like 6/700 thousand shares in issue and he was aiming for first production al least 2 years ago.

I always thought that there would be around 1billion issued to achieve production with a blend of debt equity. Maybe seems silly now but at at the time it wasn’t unthinkable the SP would hit 20/30p at which point they could offer up final equity piece.

We’re now at approx 1.4 billion with no lending facility as a result of BFS and the embarrassing 18 month delay which did little to prevent the totally underwhelming bfs economics. Yes I know they can enhance it/add mine life etc. So why haven’t they? And what exactly have they done to spend our money over last 18 months?

I don’t disagree about the embarrassment of riches but TM will never get his hands on them without even more dilution. He has luxury of being able to re-set options too so current holders rewards may be even more disconnected to in situ value.

If AE bid 5.5p or higher for my shares I would accept but don’t think they will as have they put in RNS they are negotiating re Full/partial KSK sale. They didn’t mention sale of ARS, unless I missed something.

Aim punishes and rewards patience in equal measure, a bird in the hand would do. No pun intended.

Somehow everyone seems underwhelmed about these AE talks before they even conclude. Hard to get excited when they are selling them same group who recently valued whole of ARS at approx $18 million.

Holding two lots of these now and hoping to scalp and de/risk some before the results are due In Aug.

Adam what convinces you of a material stake being built other than repeated trades of same block size?

I dont see it myself but maybe you something else that I don’t?