focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
The data either adds up or it doesn't. It didn't for previous JV attempts. It didn't for a "Major Global Bank". Did it add up the those people cramming themselves into our "data room"? I suspect we would have heard by now. My opinion is that they are waiting cap in hand for some news from the CV receiver before talking to us poor fools who fell for the spin. Just my opinion. Other opinions are available. I doubt those recent buys were our esteemed Chairman putting his money where his billion dollar mouth is.
On the Brenda front. We have nothing to "get back". We may get some contractual compensation as awarded uncontested in court (although the last RNS seemed to tone down the rhetoric.), but we are not a creditor.
We have no money to do anything except keep the BoD in the lifestyle we deserve with our money.
It is either funding outside of equity or equity fund raising. We cannot maintain the current status quo financially.
You may wish to reappraise getting shot of Redmoor to push LCCM forward. Bredagate and LCCM are why we are where we are. Did you research the asset value of LCCM when it changed hands in 2013. Did you noticed how much it cost Resilience? Do you know why PNX paid to get rid of LCCM? Do you know who did our DD for LCCM? Did you read the statements from JT when MD of Resilience when they were trying to sell it to us? Did you ask why JT became our PM for LCCM after selling it to us? Were all parties involved as independent as stated? Do you know what we were told as to why we purchased LCCM and how much it has cost us in financial and also shareholder value? How long were we told Cobre have left to produce when we purchased LCCM and yet years later we laud a 5-year contract renewal at Cobre? Why would LCCM have any more value now than when we bought it, or worse when Resilience procured it?
Just my opinion, but you may want to reappraise selling Redmoor to fund LCCM.