Member Info for johnpwh

Recently published, nice to see actually in Parliament.

https://www.heraldonline.co.zw/historic-milestone-mines-and-minerals-bill-finally-tabled-in-parliament/

Thanks Troajan

Nothing exactly new but still reassuring. This potential new extension at Dokwe sounds interesting. For all the management faults, historically exaggerating the significance of the geology encountered has not been one of them. This sounds promising in expanding the resources at Dokwe north, perhaps significantly. A little concerned that its inclusion in the PFS, pencilled in for 2026, may lead to a delay there?

Dont confuse isolationist Trump driven America with the rest of the World. Yes it was projected to be the biggest market but in todays political climate what do we expect. Trump would rather see people die than admit all things American aren't necessarily best. The man considered drinking domestos to fight Covid for gods sake.

Watched. Thanks Van

Steady on LoB. You are getting as excited as watching The Clarets!

And you Claret, with much posting by Van as well its like the band is back together. Bit like Oasis....

What do you feel about Dokwe? I have admitted before I voted initially in favour, and then had some regrets. Now I'm ambivalent because IF it comes off it could truly be a company maker, a multibagger from here. If it doesn't then it could be catastrophic, to use a trendy term an existential risk. Already we are seeing evidence of time frames to production there slipping, still 3 years which it was a couple of years back - though that is slightly understandable due to the free carry curve ball.

Search me, I haven't a clue !

Sorry for typos!

I'm sure that others have been relieved that the SP has risen a bit, though not to a historically high level or even long term average, before any new small cash raise is announced to keep the lights on. Since we are already well into July any such cash raise is due and will now hopefully be a 1.5p +, so not as dilutive as feared.

Of course there is maybe an alternative to a quick and dirty placing on AIM has been identified, if so I would have though an RNS detailing that is due shortly given the need for funding implied in the RNS of 26th March.

Glad to see you back DJ.

Boards are open to all views from all parties. Please don't turn this board into one of those that are open to only one group of 'owners' like very many on LSE are. Differing views are healthy.

Bit surprised at you to be honest, I will consider myself excluded.

Bluerill, unvrkw

Well this is a turn up for the proverbial. I am only still here because of this claim which I have never thought would come to much. Still not convinced but looks to be some hope. I have the prefs plus kept a relatively nominal number of ECOB just in case there was any small print requiring this as a condition (I admit I was so sure this was a hiding to nothing that I couldn't really be bothered to devote any time to it).

Sadly I still don't think ECOB has much of a future but hopefully we will get something out of the Fox debacle.

Of course I'm happy that Tavsan is finally on the cusp of full production, even if the delays were protracted and many. That should give a solid basis of at least 10 years production, we all hope that the JV starts to pay dividends to its minority partners. As it happens the timing is undoubtedly good, with coincidentally (in the sense of out of the companys control) historically high precious metal prices meaning that production is more valuable than if it had started as originally intended!

Not seen mentioned elsewhere by posters but was happy to see the stockpiles are high, 1 year, there would be no good having the heap leach pads and plant complete if it was followed by 'and now we are going to start mining'.

So an excellent RNS.

I don't know Van. Not keen on an ASX listing until there is clarification in Zimbabwe. Not that it matters but surely a share consolidation will be required for a ASX listing due to their minimum initial SP requirement. Greatland Gold has just been through a 1 for 20 consolidation, from a 16p share price, for that very reason which would imply something like 1 for 200 for AAU. That requirement may have been due to the listing method - there are dual listings and cross listings. Greatland used a cross listing where (to precis) I understand one entity is listed on 2 markets. Dual listing is where there are effectively 2 entities, so UK only shares and distinct ASX only shares. You probably know far more than me, my knowledge is shallow at best!

Great potential which we have been saying the last 10 years, but in another 10 years where will we be?

I want them to:

Find some cash down the corporate sofa to keep the lights on

Finally stop the ever extending Tavsan timeline and get the heap leach in operation

Firm up the opinion over the Dokwe mining laws. I don't want vague opinion I want fact

Only then do ASX listing

Form a Dokwe JV with a 'nice' partner implying sufficient cash is received to cover AAUs liabilities to full production

Heed the 'use or lose' clause in the proposed Zimbabwean mining law and stick to a development timeline just for once in their history

Dont waste too much management time on secondary ventures. In fact sell them if the opportunity rises. However I don't see how Salinbas can be sold as some suggest. We are a minority owner and have little influence. The only potential buyers would be the existing JV who I am sure would pay 5p in the £. How did AAU lose control of a 100% owned million ounce (plus plus) asset so incredibly cheaply?

Do not even think about any more new 'exciting' prospects. Dr S has more than enough toys to play with. I noted with some amusement he referred to 'sweets in the sweet shop' in the recent presentation which raised a brief smile from me.

Oh, and sack the Chairman, but that goes almost without saying

John

t know

Thanks slig

I don't know why they cant be more open and include numbers in the AGM RNS like most companies (admittedly not all). It does imply they want as few as possible to see.

11.32% vote against the chairman is not a figure they should ignore in my opinion considering the proportion of votes held by the board. He should go.

To be honest TT i've just got a sale for my 2000 ECOB shares and it was an eye watering £69. Fraid I don't devote much time to these, and I cant see that attitude changing any time soon! Have a good day.

There we go.

All resolutions passed, no voting figures given.

Not sure why I bother to vote.

Van

Great post, you speak for many including me.

I have voted against MDVs re election before several times. Nothing against the guy but be seems ineffectual and as you say seems to have outstayed recommended accepted good governance limits. Its hard to believe that we are where we are now compared to the pre Covid meal we shared, with Paul280i, in London. Everything seemed so much brighter then. Is Paul still posting, I've not seen any from him in ages?

I wouldn't vote against Dr S in case he takes umbridge and picks up his football and leaves, but I do hope he changes roles as you suggest.

Dokwe will make of break this, I think most aficionados of AAU would agree. The latest release of the proposed Minerals and Mining law in Zimbabwe gives some hope that AAU will escape the worst of the free carry proposal, maybe even scot free. With doubt removed that could pave the way to a JV there as bigglebingham has suggested. That would, in my opinion, be a real game changer for the SP with a rapid rise to 5p+ depending on terms (number totally plucked out of the air there).

In the bill is a condition that explorers must 'use t or lose it', hopefully that inclusion should help avoid the endless broken time estimates and lack of development - I wont mention Salinbas as an example, drat I just did!

Maybe pick up on this when the AGM RNS is out?

John

Hi Van

Are you going? I don't honestly think we will get a new chair, at least not as a direct result of a vote. The board carry too many votes collectively, so unless the Rockover boys split the board and rebel I cant see it happening. We wont see the extent of any vote against the Chairmans re appointment, I seem to remember that as all they ever say is whether resolutions are carried, and defend that by saying that they are entitled to do that and don't have to report numbers.

If there is a significant no vote I suppose that MDV might decide independently that it is time to go and spend more time pruning his roses. I have certainly voted against his reappointment.

He talks like a robot Laura. I've half a suspicion he's AI with a serious programming glitch.

Investing is about emotion as well as analysis. As many many (many many) AIM shareholders have found out an exciting company is frequently one that fails wiping out equityholders. AIM companies run out of cash amazingly often, They reach a stage of being desperate for cash so they have a cash raise. But the market knows tat cash raise wont be the last so they don't invest further. So the share price stays level or more likely drifts lower. So the next cash raise is even lower, rinse and repeat until there are billions of shares in issue. Eventually the company fails as no one is prepared to offer placing money.

This isn't just about potential, its about the casino you enter when you list on AIM. This is about the market smelling blood. Effectively this has just happened at Podpoint, where they have accepted a low offer for the company because they were in the same cashflow crisis as here - in many ways they weren't as desperate, their SP wasn't a whisker under 100% down!

There was a trading update 10th July last year. Hopefully there will be a similar one in the next few days, which will help us judge where we are.

This is a vile, toxic board. Listen to yourselves. What good posts there are, and there are some, are lost in a sea of bickering and bile.