Member Info for JimBL

That's not even the same company! Grosso Group are Canadian and the owner/President is a Ted Grosso .... NOT the Chris Grosso of Kershner Grosso.

For heavens sakes people, DYOR means just that.

You're wrong there by a couple of thousand miles.

Kershner, Grosso is based in Saratoga Springs, NY State (480 Broadway, Suite 310 Saratoga Springs NY 12866). Not the one in Utah.

Er, that's investing, mate. If any of us new about potential problems with any share then we would all sell at the top! The company moved into real world production and issues arose as they often do. Who do you think 'was in the know'?

Kershner Grosso are investment advisors. He's not buying for himself but for his clients. They have a decent record and over $320million in managed funds, so they must have a reason for liking us - strange as that may seem for many of us LTH's!

While the performance remains currently disappointing, I don't fully understand all the griping. You could have got out or top sliced when CAI was over $1, which was over 4x the price we acquired them for in the spin-off.

Well, what popped out at me was a glaring piece of recent misreporting. Seems Helda got an even larger severance payment, not $240k as recently indicated.

"Also included in the consolidated loss is a severance payment of $340,000 payable to the previous CEO of Falcon Isle."

Don't see why or how. The repayment/purchase schedule runs to 2025 and the first installment was made Jul 1st 2022.

Why has any of this resulted in a delay of releasing the annual report and accounts (and thereby a suspension)? They are for the period ending Dec 2022 and both these events occurred afterwards.

The ultimate aim is 25k ton. This year they suggested sales of 7500-8000t by June. That would return a suggested profit of anywhere from $600k to $800k based on the very confusing aisc 'margin'. Not earth shattering and obviously insufficicient to be meeting the payments to Helda of the installment and a severance payment - almost 10% of our MCAP by the way!

Due $1.7 mil and should have sales profits from previous 12 months. Why on earth would a raise be needed?

The RNS from Mar 2022 clearly states "..the payment terms have been structured to use cash generated from the operation and minimise additional funding."

Maybe why the BOD have been utterly silent on how sales/revenues have been going.

As far as I recall our profit from sales only matched (approximately) the amount of payment required to be made to Helda anyway. I don't recall us being told the next payment was Nayega dependent nor that Helda was being handed a $240k 'severance'.

Togo acquired Nayega and we haven't been paid. Is that really a surprise to anyone?! As for 'royalties and fees' which were part of that deal, I did say earlier I had doubts of ever seeing anything from it.

$ not £. And as per the interims of last June, we were on close to a £0.5 million loss at that time.

Nayega disposal revenue is in effect the full outstanding amount we still owe to FI. Any potential future revenues from Togo remain to be seen, so I'm not counting on them at all.

While the BOD remain so coy in updating us on sales figures, AISC etc, then the potential value of DC can only be guessed at. They've now had enough time to start showing us there is a demand, and a growing one, for our products and we can increase the profitability of sales through reducing AISC.

Instead, we get sustained silence.

Is it that irrational, though? Regardles of LOM 'potential', surely all that matters to the market are the numbers. Demand, sales, revenues, profits.

Returning around $800k profit from sales is hardly setting the world alight and the abject lack of willingness to update SH's and the market on how performance in increasing those numbers is going is certainly not helping the case.

That would be very concerning, considering our last years 'profits' were just sufficient or thereabouts to have met the FI payment. If we haven't increased on that then it's not saying much for our sales & marketing nor customer demand.

The lack of news or dialogue from the BOD is frankly shocking these days.

The NPV for Nayega was only $10 million for our entire remaining 76.5% holding. Probably increased slightly due to rise in manganese prices, but no more than $13 million. Your numbers are well off.

Royalties on 900,000 dmtu's (if thats what the agreement means) equates to just under $3mil at present Mg prices. If of course its actually produced in the next 3.5 years.

Not much, if anything, I'd say.

Its only booming if the BOD come out and tell us our sales have boomed too. Instead we continue to be told nothing.

It was estimated to cost $1.5 million and was funded by the end user.