Member Info for JimBL

What Odds for 35p v nothing?

Exactly! NAV/sh 35p Assuming fully diluted all equity basis at 15p per share. Gee thanks STEL- confirmation that all LTH's will never get their money back.

Unless a strategic investor is confirmed and reported to the market before the 16th March, then no way can the OO go ahead. Nothing else will make this sp remotely move upwards and no one is going to buy shares at a price above the market price, so it could be lights out after the AGM on 24th.

LOL, appealing isn't it! Buy open offer shares for more than they are worth on the open market. They've ran out of mugs to rob.

As I read it, the 'deal' is now only on the table until April 27th at latest. Of course, it has also been downgraded from a RTO to a Tribute (now even less security for any investors) - yet 6 months after the suspension was applied there is still no confirmed investment. Instead, we are scratching around for funds to keep the lights on. Even if they get a strategic investor - and that seems to be for $10 mil as referenced in a recent release - they still have to, and intend to, float an additional 50 mil shares afterwards. Clearly it's their view that people will take those up and that will fund the mining - YET, KS stated they would be producing diamonds within 9 months of approval. That was then changed to 12 months by Daresbury and of course, underlying it all is the fact that forward looking statements are not to be relied upon. I'll say for the last time to you - every statement on resource size, grades, sales etc this company has made has been fundamentally wrong if not misleading, (never mind the loss of Kono and $19 mil of expenditure on it) hence the position we are in. Finally, comparing a 600 mil mcap company to this one is as ridiculous a comparison one could ever choose to make by anyone. Why not compare us like for like and to a next door neighbour at Tongo - as I suggested yesterday? GSR. Same shit show.

A big IF of course. Based on the current situation and track record of non achievement I'd be surprised if they could get back to the post consolidation price. Even being generous, hoping the market likes such an eventuality, 15p would still only give a mcap of 5.7 mil. You'd have to consider the dilution effect of an additional future 50 mil shares in circulation too - which they have stated is the ultimate outcome I would doubt this would seriously move until (under your proviso) people witnessed stones coming out of the ground at the grades suggested and revenues being generated. All info so far of course has been 'forward looking statements' to which the BOD warns "the Company cannot assure investors that actual results will be consistent with such forward looking statements".

P.S. Lol, yeah, I did wonder how the sp managed to leg up to 6p this morning ;-)

Nah, scrub my last message. I did find reference to one.

Looking around the SL Gov sites and I can't find any mention of having to 'buy' an Environmental License. No mention of one from Stel following the ESHIA approval last year either. Makes me wonder if they are having to do another ESHIA for Tonguma (considering Octea haven't worked the plot) and that's what the funds are actually for? I had a wry laugh looking over at GSR as they are a Tongo neighbour - and equally as disastrous!

I did wonder why Octea would entertain thoughts of Stel taking on Tonguma. Came across something today, dated April 8th 2016, which includes:- "Four years on, there is still no mine. It was after all a false dawn. The Company simply hoodwinked the Lower Bambara stakeholders as well as government into believing that they were going to build a mine in Tongo within months of acquiring the mining license. In the end, it is just a dormant asset in the Octéa portfolio, which also includes Koidu Limited and Boroma Limited that adds to its value. After much protestation from the host community, the Ministry of Mines and Mineral Resources has finally decided to act, albeit belatedly-it has issued the Company with a cancellation notice, and is now locked in prolonged discussions with its leadership. Only time will tell what the outcome of those discussions is going to be." So, Octea faced losing the license and suddenly a deal appeared with Stel to mine Tonguma. Ironic, considering we had Kono license cancelled for the same reason. So, we JV'd off other assets as we have no money, have no license yet for Tongo, cant afford to keep the lights on (or pay for the environmental license) without fundraising and need to find $31 mil to mine both licenses. Yeah, if this doesn't wake some people up then nothing will.

Well i would have gotten out at a sizeable but not total loss if the BOD hadn't been so underhand about Kono. Instead they waited until December this year (4 years and while under suspension) to drop it in the financials that they were writing it off. Every communication stated they were pursuing the matter and expected the license return. Of course, the sp just tanked and tanked from 2012 as a result along with the ever failing targets. Even post consolidation the sp has continued to go in one direction only. That's why I have zero optimism of this BOD ever achieving anything it hypes to the market. Couldn't run a p@@s up in a brewery let alone a profit making diamond mine.

Mate, I'm not touching anymore of these. I stopped averaging down after the Kono debacle in 2012 (and the 2/3rd sp drop) and resigned myself to learning a hard lesson. Another 1100 quid doesn't seem much - but that would still leave me needing a sp of 54p to break even! Never mind dilution and the fact I don't believe this dog of a share has a hope in hell of mining anything or even survival. They've had all they are getting from me.

Crackers. Is the BOD expecting a sudden increase out of thin air - or believe that we think that, despite everything that has happened?

What's the point of an OO at 5.5p? Chances are, with the dilution, the price will fall again afterwards and you'll get them cheaper (if you so desire to purchase any)!. They were below 5p yesterday!

He suggested a 20 bagger yesterday and Cotto went as far as a 30 bagger! All good and well (though impossible IMHO) if you are buying at these or lower prices which are less than 1/3rd of post consolidation price. Seems that they couldn't give a stuff about the LTH's who need those kind of miracles (or more in some cases) just to break even!

I haven't sold. What's the point for a return of only a few hundred. I've been here almost 6 years and stopped putting any more money in after they lost Kono - along with $19 mil of investors cash spent on it. Despite hearing otherwise, they lost it because of their own incompetence and lack of action in moving the development forward, preferring instead to forever explore elsewhere. If Tongo was such a great asset then why hasn't it produced anything yet? KS has been involved with it for over a decade in this and other company's (Mano, Petra). They have no money to develop the other assets and that's why they JV'd them off while in suspension (Liberia licenses were re-acquired - we'd held them several years previously - without even informing the market!) - and they have zero agreement with Octea as yet. I'd also suggest that LTH knowledge and experience of the company puts us in a far better position to comment than you - who arrived a few days ago full of apparent joy and excitement at a '5p' price. To anyone who held before consolidation - the sp was down to a measly 0.35 and it's now less than a third of that in real terms! Deramping, my a@@. But hey, go ahead a thump the drum - you may get more mugs to throw their cash in and make an exit for me more possible.

I haven't sold. What's the point for a return of only a few hundred. I've been here almost 6 years and stopped putting any more money in after they lost Kono - along with $19 mil of investors cash spent on it. Despite hearing otherwise, they lost it because of their own incompetence and lack of action in moving the development forward, preferring instead to forever explore elsewhere. If Tongo was such a great asset then why hasn't it produced anything yet? KS has been involved with it for over a decade in this and other company's (Mano, Petra). They have no money to develop the other assets and that's why they JV'd them off while in suspension (Liberia licenses were re-acquired - we'd held them several years previously - without even informing the market!) - and they have zero agreement with Octea as yet. I'd also suggest that LTH knowledge and experience of the company puts us in a far better position to comment than you - who arrived a few days ago full of apparent joy and excitement at a '5p' price. To anyone who held before consolidation - the sp was down to a measly 0.35 and it's now less than a third of that in real terms! Deramping, my a@@. But hey, go ahead a thump the drum - you may get more mugs to throw their cash in and make an exit for me more possible.

These levels? Same level as before suspension and barely 1/3rd of the post consolidation price! If Tongo/STEL offers such a 'fantastic' opportunity then why weren't you in last year? Directors haven't 'bought' anything nor shown confidence. They swapped fees etc for shares which is the very least they could do do considering the company has no money! KS was paid almost $278k in last financial period and the company generated income of a lot less than double that - and posted a $7 mil loss. The only confirmation we've had regarding the JV's is that Citi still haven't paid the minimum fees due.

LOL, yeah, not much at all! Just confirmation of a Tribute deal - confirmation of a Tongo mining license - and confirmation of $31 mil + in funding. Easy peasy for a perpetual loss making company with a mcap now of only $2 mil, huh? Is someone paying you to post this nonsense???.

Agreed, mate. The nonsense about STEL's WA expertise - coming from Octea no less - should make anyone wonder.