Member Info for JimBL

Another thing which I think is strange is why we are seeking "establishment of a N1 43-101 compliant Mineral Resource". That is the Canadian alternative to a JORC - and not the SME as used in USA.

If FU has no bearing on our operations, then why are we seeking classification of our US Diamond Creek resource under the Canadian mining system??? An indicator of where potential future ownership will reside ....?

SDGM had to become a Public Limited Company (SA) because the Togo Govt wanted a 10% slice. Nothing to do with the ownership structure prior to it as far as I recall?

I'm not bothered about FU. They acquired another project/company at over $3million that is not producing yet, so sales plans etc are all hypothetical (as proved with us/DC). If our sales were part of their DD then they bought on a lot of faith i'd say? So far, we don't appear close to achieving them - or rather, we have no clue if we are as we are not being told.

Not being spelt out is pretty much what I'm getting at. What we are told is not what we were previously told - and this statement leaves more questions than it provides answers. The company should be clearly spelling out what activities it refers to. Will shareholders wish to remain if the company goes out and buys or invests in something else yet again?

SDGM is now a PLC (SA) as per the hoops Togo had us jump through.
Anyhow, in effect you are saying any profit DC makes therefore now entirely pays for the FI acquisition? Considering, pre-dispute, sales profit amounted to only some $300k in total, that's going to take some time, eh?
Previous RNS: "We have a 3-month window to explore financing options before the first tranche is due and have already initiated discussions with key customers to look at funding solutions." We must take from that, key customers were not helpful therefore? Worrying, as I suggested.
So, if sales aren't going well and key customers weren't interested, exactly what 'other fields of activity' are we now looking at getting into? Maybe I'm a bit slow, but that smacks of admitting DC is not going anywhere close to plan in relation to sales and demand.
Surely they should be getting down to making DC work before looking to spend money on other activities? Not expanding products - but 'other activities'.

And what does this even mean??
"While it remains the intention that payments for the Falcon Isle transaction will be financed primarily from Falcon Isle cashflow, the funds being raised will be used for the First Tranche of US$800,000, the establishment of a N1 43-101 compliant Mineral Resource at Diamond Creek, expansion of the Falcon Isle business into other fields of activity and general working capital."
There is no FI, we bought them out! And instead of sales and marketing of our product, we are being told resource enlargement and 'expanding' into other areas of activity is the goal. Very much sounds to me that the high grade organic phosphate product as a standalone, is not gaining any or enough market traction hence we need to diversify.

And that due diligence is perhaps (or even likely) why RL is no longer CEO? Because under him, our own DD has been woeful. Nowt to say FU's DD is or has been anymore impressive for their shareholders. Their own sp has fallen since it raised, and then acquired Southwind last month.

What do they bring to the table in terms of DC? No sales or marketing experience, which is is what we need to sell product. They aren't actually producing anything themselves as yet. So I wholly agree, their strategy is of no interest - -but bringing them in doesn't align with our own strategy, other than simply acquiring much needed funds.
Funds incidentally, it was suggested would be raised by off-take agreements etc. Does this therefore indicate there was/is insufficient interest? That would be equally worrying.
That for me is as simple as it gets. A potential future TO (of DC) is another matter.

Surely we should be looking at how we maximise sales and obtaining market share for our phosphate as we were told was our plan?
Getting into bed with an explorer, who is producing and selling nothing (and seems to be taking a scatter gun approach to its own asset base) makes little sense to me other than the funds it brought to pay for the FI acquisition.
Smacks of confusion and desperation to me, quite frankly.

I don't see the point, until or unless we actually start making inroads to meaningful sales. What is there to entice II's at the present time?
I am at a loss to understand how getting into bed with an explorer is going to do that? FU has jumped from silver, to uranium, and is now acquiring phosphate, yet isn't selling anything as yet.

Mark - it actually concerns me rather than comforting me. He was brought on with the Togo focus and here we are being told NA is now the focus.
First Uranium involvement with phosphate is tenuous - existing only because they acquired another company only last month (Southwind Corporation).

Sorry - previous Ltd company. And one which was into silver mining.

No offtake agreements for funding as previously stated, nor of funding the FI purchase through sales. No mention whatsoever of sales or customers.
Stacey was brought on as COO, specifically with progressing Nayega in mind. Nothing happening there - except the 'country manager' has left and now we learn we are focusing on North America.
Stake bought by a Ltd company which has only one exploration project (in Canada) and itself just raised $10million in March and changed company name in January. Robert Dubeau, CEO of the Company stated, “Karam’s Board of Directors felt the name change better reflects the Company’s corporate strategy and uranium project in the heart of the Athabasca Basin in Saskatchewan.”
I'm utterly underwhelmed by what on the surface appears to be a confused strategy unaligned with the previous aims of the company.

The days of buying these stopped several years ago for me.

I certainly hope you're right - though I very much doubt it unless Togo drops out of the sky for us. I'd be in profit on these after almost 11 years!

Er, 6000 million = 6 billion. We are one of those companies with billions of shares!

228 mil (ish) shares. Dunno what the mcap was back when the sp was A$0.05 or they ventured into carbon. Was really trying to draw a parallel to how difficult its going to be to create a market share - and what value that may bring - when compared against them, their 4 mines and multi-product multi-market exposure.

Interesting looking further into Fertoz as I mentioned previously (ASX listed) who is also in the US organic phosphate sector. In comparison to our one mine and single US market, they have four mines (2 in Canada, 1 in US and 1 in Mexico). They also have customers and distributer agreements in the US, Canada, Mexico, Australia, NZ, Philippines, and PNG for multiple product lines.

Despite that, prior to their move into carbon, their sp was only A$0.05c. Puts things into perspective as to how far we have to go to create our own market share and what value that is likely to bring.

And some interesting further info courtesy of Fertoz. Like I say, we aren't a comparison (yet) but it sounds a similar tale to market etc.

https://www.fertoz.com/wp-content/uploads/2020/01/AGM-PPT-JUN.pdf

We are way behind the likes of Fertoz in scale, reach and product. But the opportunity exists if RL can get the right team together out there and in a hurry.

From Fertoz presentation June 2020: "USA: Key competitors inc Tennessee Brown, Soda Springs, Calphos".

As far as I am aware, all three competitors mentioned are private companies and Calphos mine (Florida) is actually now depleted.

Link to a supplier who switched from Calphos to Fertoz. Note the PO content is still way below ours. https://waltsorganic.com/goodbye-calphos-hello-fertoz/

Outside of the very large US pharma/mining companies involved, I suppose the closest I am aware of is Fertoz. Funnily enough an ASX listed company but also with mines in Canada and US. They supply a variety of sellers and also have numerous partnerships.
Their sp is A$0.265, up 5x in the last year. Different size animal though and a different approach as they have grown five-fold after moving into the Carbon sector (carbon sequestration, consulting activities, trading and implementation of carbon strategies) on which they raised A$5million. Looks like it's paying off.
https://www.fertoz.com/organic-farming-fertilizer-product/
Just goes to show - we need a proven and strategic sales and marketing team in place asap to make the most of the current market.

Personally speaking, I'm not aware of any listed US company who is a like-for-like comparison.