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Morning UR
You posted yesterday this comment (amongst others):-
"As I said the other day, the sooner Mads 7am suspension RNS arrives the better."
I light-heartedly replied along the lines "it's a-coming UR watch this space". And I see my post has been removed even though there were a few ticks up. Don't recall in my 15 years of posting on this LND thread this happening before. Maybe it was seen as a ramp? Me ramp LND? That's a joke!!!
I still believe this company is ALL about BH. Nobody else. And at 82 going on 83 with the best will in the world time is running out to bring matters to a conclusion & an end game played out.
I could be wrong but I don't recall ever before warrants being exercised by BH and made public by RNS. Sounds positive. And hopefully an end game is getting closer.
Mind you, I'm not one to judge as I never quite followed the claim about his apparent ability to keep LND on life support during the period nickel spot price was struggling. Especially given how he wasn't at the LND helm at the time (Prickett was CEO and BH was busy spending more time overseeing the near collapse of Patagonia Gold.). And also given the bullish tone of the many RNSs at the time that nickel was struggling. Not to forget the issuance of Lamaune Iron Inc certificates 12 years ago.
A few years back I used to be a fairly regular poster on here. Seem to recall prolific posters like Morley & Yorkshireman. Now the thread might as well be shut down given the interest level. Same goes at ADVFN. I thought this was supposed to be a PLC? What are the directors doing to stimulate interest from prospective investors? Have they not heard of investor PR?
I only have a very small holding these days having thankfully sold majority of my stock at 5p (old money pre cons). I've just had a quick butchers at recent results and on the face of it, the numbers look good; revenues holding, EBITDA growing, decent balance sheet and cash position and seemingly and good foundation for growth. But then, following the long overdue decision to reinstate the dividend last year, it gets cut it in half for this year. This is despite, in the company’s own words, not having a defined strategy or anything to spend the money on - if that’s the case then give it back by at least maintaining the dividend.
The share price has tumbled over the past few months to a point where the current market capitalisation is less than the cash the company holds - this means that the intrinsic value of its operating businesses is less than zero. Its Indian business generates nearly £8m EBITDA on its own - rudimentary research on Indian valuations should point to a minimum 8x - 10x EBITDA multiple price tag for that business alone. They say it’s fairly autonomous, and imply that the new IT platform will make it fully so by the end of the year. Let’s see that value realised and returned.
It’s about time that the Board of CPP step up to the plate and do what’s right for all CPP’s shareholders - big and small - put us all out of our misery, we’ve suffered for long enough - no more deliberation or obfuscation - there is value in this business, let’s have some of it back. The ongoing inaction is slowly killing it.
.....and where are all the resident BH fan club members that were posting 20 to the dozen on various BBs when Packer Jnr's mob were bailing out entirely at 14p (£2.80) and "I've spoken to Bill - I know Bill - in Bill we trust." "Remember BNC".
Hiding behind their laptops now? Or just busy laughing their ****'s off whilst counting their profits?
Whatever - they're certainly keeping remarkably quiet these days.
Since LND launched on AIM 17 years ago there must have been well over a 150 RNSs published & interviews broadcast.
I can not remember a SINGLE one that wasn't positive or indeed mostly ultra positive.
Share price is still 1 penny (all but). So much for the strategy of the share consolidation a few years back. Has been in its prime a 20 bagger of 1p.
No doubt many close(r) to the Company have made a small fortune trading this and some trousered loads in remuneration & expense packages over those 17 years.
Just saying.
UR - if they are now at a point of reaching their strategic target & end game about to be played out - then absolutely there's no quibble from me.
I named 3 directors but I think we all suspect this is operated more as a private company by BH himself with MT at the coal face.
I just genuinely worry how long BH can keep going now? If I was a prospective buyer of the Co then I certainly wouldn't be in any mad panic to make an offer (no pun intended).
Sorry to labour the point - I just think for an expenditure of some £60m the return on that investment has been pathetic. And if this hadn't have been all but run as a private company then there's got to be a fair chance Prickett & Humphries would have been walking out the exit door many years ago - like at Patagonia Gold.
Michu
I get the impression BH has nobody really available to delegate matters like PR to. He's 82 now and Featherby who I think is based in Oz is an OAP. And Wilkinson is 80.
I'm not doubting anyone's knowledge or experience - but given their advanced ages there simply has to be limited dynamic energy levels within the Board.
BH has always been very good at raising working capital and enjoying successful drilling campaigns.
I know some folks think BH walks on water but personally speaking the past 20 years have been just that - raising funds & digging holes. And the odd disaster story along the way.
I see Iron Ore spot price is doing reasonably & consistently well. Should I dig out my Lamaune shares that have been dormant & unable to be traded for 12 years ?
As always - extremely happy BH proves me wrong. Just my bad luck I've been saying that for best part of 17 years. He's surely personally running out of time now to be responsible for organising any major corporate activity?
Catbert - I'd say it wouldn't happen. Full stop. Not a case of unlikely to happen.
It'd be nice to believe there have been rolling discussions involving BH with interested 3rd parties ever since before the 1st PEA and the purpose of that publication was to hopefully entice some offers either of an acquisition or JV.
If the BoD are sitting on ANY material information that could be perceived to have an effect on the share price they have a legal obligation to publish it. Them's the rules.
Not when it suits the BoD nor when they are ready.
There can only be a formal offer. Anything else isn't an offer.
...... AND ...... £63m can't be that far away from what's been actually raised/spent since LND launched on AIM.
A potential value of £63m (even if only for the gold and not battery metals) isn't something to shout proudly about from the rooftops........ surely?
" his glory days at brancote".
That cuts more ways than one - if anyone doing any thorough DD on post BH viz-a-viz both Brancote & Patagonia Gold will see they turned out to be unmitigated disasters. Lots of gold found. 20 years later and virtually none ever saw the light of day for various reasons.
Morning UR
We've both hoped for many years now that LND would be sold - lock, stock etc.
I always thought that was the only likely outcome . Now I'm far from sure. Am starting to think that BH wants a JV probably with a new name, new CEO, new Board with only BH remaining as Hon President of the 'new' enlarged company that would be cash sustainable if not cash rich. And with it he'll enjoy a fat package of salary + expenses + bonuses and keep alive a part-time interest in his mining 'passion'.
I lost a small fortune (for me) when BH was at the helm of PGD. Here's hoping the same thing doesn't repeat itself here.
I don't want a massive return on my investment. Just to get back what I originally invested would probably suffice.
I'm fine UR - thanks for asking & nice to see you post. As always.
BTW - think Prickett did all the old podcasts because that was his job as CEO.
I used to think I once had a strong sense of humour until about the last 5 years of this saga.
Trust you are keeping well yourself. Best wishes.
Michu - could be wrong but I thought the drop to such a low fraction of a penny was preceded by the usual heavy stock selling to manipulate the share price to a highly attractive Placement offer. That particular fundraise was a much bigger fundraise than usual & with it a 1:20 consolidation and the introduction of Sprott to the fold.
Now with the share price well over a 1p that must be all down to Featherby's marketing plan to improve the share price? Such a success story needs to be told and Burton's mob do it nicely in that piece yesterday, with a perverse & misleading spin on the share price performance even Putin would surely be impressed with? Burton seems to be quick & enthusiastic to give advance notice of a specific forthcoming podcast date ("read into that what you will" LOL). You'd think some sort of update from him could be posted on the BBs he puts out the links to articles he's involved with. 'Tis a tad strange the previous podcast was cancelled/delayed with no explanation or update.
No doubt LND will one day be sold off. Only question in my mind is if it will be in my lifetime (or BH's for that matter)? And how many more MREs or PEAs will need to be published?