RE: A warning from the otherside16 May 2023 23:12
BZT is now worth less than 10% of the SP when Colin Bird took over.
So far we have had a JV in Cyprus- got called off after a dispute with the partners
We have exceptional hand held machine assays from Kalengwa (which XTR is also active in) which ended up being bull**** in the lab
We had a JV in Phillipines- which fell apart
We started our first drill in Nambia f(for copper & gold) 2.5 years ago. There is supposed drilling going on but we have had 2 or 3 sets of small assay results in the last 2 years. Colin has indebted the company with a £1 million loan last year which he said was going to be primarily for the Cyprus JV which fell apart. He has done another round of placings last month which has obliterated our SP. We have no idea how we will pay this £1 million loan as we have no cash generating projects in the horizon. No doubt he will issue another round of placings which will take the SP to 0.01 (it was 0.5 when he took over).
When he comes to a a dead end in one project, he just seems to find another one to ramp which needs to be worked up from Level 0..which means more placings and SP destruction and more importantly- which means he continues getting paid and continue whatever lifetstyle he is leading in UAE. You saw the same with XTR, when OZ was running dry, he started ramping Africa
But he can only do the same thing for a certain amount of time. All ramps fall on deaf ears now. He may end up indebting XTR with a similar sort of loan that he pulled on BZT.
Be very careful
Colin Bird’s AIM record (as of mid May 23):
Time he became CEO of BZT- SP 0.5….now 0.04 >90% fall
Time he became CEO of XTR- SP 10...now 1.8 >80% fall
Time he became CEO of Galileo 7.38...now 1.2 >75% fall
And no, this isnt because of a bear market. Even during the peak of the COVID market bubble his companies were below the SP when he took over.
So we can see that investors have lost ££ putting cash in his companies but does anyone know how much money he makes from his AIM ‘companies’. Ive looked at some company accounts and it seems very opaque how much is spent on salaries. All I know about him is that he lives in UAE {which is tax free) and has a penchant for racehorses.