Member Info for JoeBloggsUk

Red some of what you say is true, the stock market is a casino and l do not trust anyone. He doesn't need 3,4 & 5 to to do job properly and that is not tying his hands that is me giving him white I want him to go that is why I have a vote.
ATB JB

Tom E fair enough, and I agree if you are sending him an email spell his name correctly.
ATB JB

Tom E with all due respect this isn't an English class, I am dyslexic and my spelling is appalling and I am not embarrassed by it but I still wouldn't like people calling me out on it.
ATB JB

petejh, very simply and very well put I 100% agree with you

Redirons & Culpepper those are fair comments and if my investment was small I wouldn't be concerned, but I have around £160k invested at various prices and I am around 57% down and see no signs of this reversing anytime soon, I am made SD aware of my concerns sometimes I get a reply sometimes not but I am never reassured by the reply that I will ever see my money back. So I will not grant authority to do as they please with the rest of my cash as they have failed me up until this point. That trust has to be earned and it hasn't been for me so far.
ATB JB

Resolutions 1&2 may be necessary although not wanted, but I am glad to see there are many others who feel 3,4 & 5 are a step too far and over reaching the levels of control required if 1& 2 already solve the issue. Hopefully 3,4 & 5 will be blocked giving us the final say in any future issues requiring the raising of funds.
ATB JB

Tygra, dito i suspect an offer will drop in that price range.
ATB JB

Paddy yes I understand and accept to a degree, if dilution is a last resort then it should be the minimum required and not at a discount this asset shouldn't have to be discounted and any future warrants should be at a much higher value where maybe they would have earned it. But in no way should we wave the right for SD to have to asked our permission to make these decisions in the future. We are at a pivotal point and we need to lay the foundations carefully and set a precedent of top notch asset at a growth value not shift it in the discount corner that is not what this asset is, if patience is needed then let's be patient. I just pray that for all involved we somehow find our way to its true value and we are rewarded for all we have gone through.
ATB JB

Augueroo, I personally believe NC will make a cheeky bid and that is part of the reason they didn't take the 5% at the GGP valuation and they will be aware we have now to raise funds to secure the loan deals, as I said before it is a chess game with many strategies and a magnificent prize at the end off end. We are in a strong position so no need to rush and settle for less than we will be due albeit quick rewards are a temptation to settle for less. But settling for less would mean some would lose and no one should lose on this asset.
ATB JB

Rosso there is truth in what you say
ATB JB

Paddy on the back of good news (keeping the 5%) we could have done without any dilution and any discount to anyone dragging the SP down further. It may not matter a lot to people who bought early doors and have probably taken profit and are on a free ride, but a lot of people have been under water for a considerable time, people buying at the top are probable thinking they will never see their money back let alone a profit and SD should keep these people in mind when he awards himself and his buddies the opportunity to buy at 8p, but he doesn't and should not be allowed to take away his obligation to make these decisions only with our aproval. The I'm alright Jack philosophy doesn't cut it with me, the board have an obligation to all and I know from emails with his lordship he doesn't seem to share that opinion. For me he hasn't earned the right to make these decisions free from shareholder approval.
ATB JB

Tom E Fair enough, but to be honest anyone buying or sell anything based on strangers bickering on a chat room shouldn't be allowed to be in control of money, and I don't believe anything said on these boards has any affect on the SP.
Cheers Tom hope you are well
ATB JB

Timber, time will tell, lets just hope it all bodes well in the end. Grizzle FAR current market cap is nothing to do with the deal that was done, that was very successful, but unfortunate geography has taken its toll as one would expect in that region. TomE Sp languishing around 8p is down to the board and facts are facts whether you see it as negative or not, you can not ignore the truth just because you don't like hearing it, we are at a pivotal position in this companies journey and the easy way out isn't necessary the best way out, it is generally when you are most vulnerable that you are taken advantage off. I say we move forward with caution the asset isn't going anywhere and nothing is gained by giving it away.
Again my opinion and I know many will disagree and that is fine and I am happy to read other points of view.
ATB JB

Timber I hear what you say, personally I think he could have waited but as a last resort only issue the minimum necessary or do a deal like I mentioned previously that was done by FAR if my memory is correct, this is a world class asset we should be dictating the terms. But what he is proposing is a slap in the face in my opinion and lacks any respect towards the PI`s who have dug deep in support.
ATB JB
ATB JB

Acechaser, yes I have had direct email communication with SD on many occasions since he took over and it is fair to say we do not always agree and he has a habit of ignoring subject matter that he does not like, yes he did a good job over the 5% but for whose benefit is still unclear to me. If PI`s eventually lose the controlling share of this company then PI`s will lose out to line the pockets of SD in his institutional buddies who will get onboard cheap for the good times, where were they at the start or the past year. Look at the deal I think it was FAR done and look how the SP took of not by getting in cheap but by committing to additional funds at new highs , that is how you build confidence not by bargain basement rip offs.
ATB JB
ATB JB

acechaser, none of know the answer to that question except SD and his close allies, the point I make is we should use every vote we have to insure we don't get shafted, at the moment we have that power I see this RNS as a means to erode that power. Personally I think that is not good. We have an exception asset, and others will do what they have to to gain control, it is up to us to keep control, SD works for us and I think he needs reminding of that fact.
ATB JB
ATB JB

Acechaser, the RNS itself isn't complicated so a generation on my part, I was alluding to the big picture of the last year with everything we know and everything we don't know but join the dots to form a picture. But I am not for gifting away cheap control of our company no matter what guise it is presented in.
ATB JB

Acechaser, we are all entitled to our opinions, and I decide when I buy or sell not you, but thanks for your concern.
ATB JB

Hi Speedy yes I get all that but no matter how complicated the dealings are it always comes back to basics. Complicated dealing are designed to go over our heads to manouvre thing to another agenda. But when you read between the lines it is always the basic fundamentals that restrict their control that they are trying to change. The money can be raised without changing these fundamentals and being loyal to PI`s , so why do they want to change the basics that keep the control with us. SD choose not to do it that way and his stated reason for doing so doesn't sit well , he has had a long time to get his back up plans in place. Institutions will at some point want to by at market value pushing the SP up( it happened before), I am not in favour of gifting them cheap shares and a back door in to wielding a level of control along with there pals on the board. Just my opinion Speedy but I will be voting against anything that unnecessarily dilutes us in that way and that also takes away a level of control that allows the board to makes decisions that could continue to work towards taking away control from PI`S long term.
ATB JB

I understand the need to raise funds now that NC are not buying the 5% ( we still don't know why for sure so this part of the story may just be another chess move) . I am against discounted dilution to institutional pals that then edges control away from the patient and loyal long term holders many of whom are sitting at a loss. Any share placing that is absolutely necessary should be offered to the loyal PI`s and should only be of enough value to secure the debt facilities needed to take us to production and income. I certainly do not agree to any measures that allow SD or anyone else to make key fundamental decisions without our approval, if he wants that level of control then he should buy us out for a reasonable profit that is after all why we are here. As always I am suspicious of every manoeuvre and do not trust anyone more than I have to. We don't get to know their true agenda of motives or even the details of their manoeuvres but we do collectively have a voice in keeping the basic structure of the company in our favour. I am for managed debt not control and value losing dilution.If they need money then they should come to the shareholders first and show us the respect we deserve and not do discounted deals to their friends at our exspense.
ATB JB