Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
I guess that there will not be any death spiral financing here with the directors personal holdings . Personally I do need some clarity on the finances before I add my next tranche of MKA shares to my holdings. The valuation today is really enticing but I feel need to wait for some clarity on funding before committing further funds. Guess there are more investors in the same position and this will no doubt be feeding into the SP drifting lower and lower.
Fulmar, yourself, Jarv, Steve et all talk with a tone of certainty that Arc is in a closed period. From your history on here and twitter I do not believe that you are a paid ramper. However, such a thing does exist and I fear that you are advertently or inadvertently maybe being led astray by such entities.
Steve claims that the CEO confirmed via e-mail last week that the management are in a closed period. Firstly given Arc do not have a CEO I assume he is claiming that executive chairman Nick von Schirnding confirmed the closed period. Is this correct Steve? For clarity, for anyone reading this it looks like the post and TNR's response have been removed. Make of that what you will.
You claim that "we Are in a closed period" hint at positive reasons why we are in a closed period and go on to say "Whatever the reasons are for the close period will no doubt transpire !"
Where ever you are all getting your information from you all need to be very careful because you are all starting to sail close to the wind.
The closed period thing is BS. Under Market Abuse Regulations That specific definition relates to 30 days before release of results. I do not believe that to be relevant here. Am i wrong? Are results due in the next 30 days? If not I assume the insinuation is that the management have current inside information that could be material to the company valuation, I this is the case and the executive management are openly informing specific individual shareholders of the closed period then this in itself is at least dubious behaviour by the management.
Glad to see some blue today. Currently up around 5%. Hopefully we can start to see some positive momentum here.
For some balance, all this talk of closed period and directors not being able to buy shares is BS. Do some quick research on closed periods and trading with inside information and I am sure you will come to the same conclusion.
The only thing that would stop the directors buying at the moment was if results were due or they were in possession of not yet announced information that would significantly change he company valuation. Normal guidance would be to stop any public statements during closed periods or until the significant information is released to the public. The recent investor presentation and company social media activity suggests to me that they are not currently in possession of significant inside information. The historic reporting of financial results tells me they are not in a closed period. So IMO all this talk of closed periods barring directors from buying at the current time is misleading. And, to use this excuse to explain why the last director purchase here was July 2020 is absurd. IMO it is simple, they are not buying because they don't want to invest their own money into Arc at this time / valuation. The important question is why they do not feel that now is the right time / valuation to I will not invest their own money in Arc.
Fulmar, what he has said is potentially material. Also, if BOD are looking at ways to take the seller out there is a very simple solution. Nick, Remy, Brian et all could easily buy the lot at currrent market value. I am sure they have the finacial ability to do so. And, guven the current valuation is apparently such a gift. Ask yourself why they are not doing so. Let me guess they are in a closed period because material news is imminent.
Jarv, you are intimating that you jave information from the BOD that is material and is not in the public domain. Either what you wrote is factual and that BOD should be held to account for lealing material need to a PI or you should be held to account for suggesting in a public forum that you have material information when you do not. Either you or the BOD need to be carefull. It's very amateurish behaviour from whoever is in the wrong.
Seis, I personally only ever post if I belive that what I post is of value to, or worth consideration by other shareholders. Positive or negative.
However, this forum is no longer any good for reasoned debate or discusion. Whenever I post an alternative point of view you accuse me of trying to lower SP for my own gain. IMO this attitude stifles reasoned debate or discusion. I have no idea why you seem to try to stifle reasoned discusion. Why are YOU are on 18 hours a day, 7 days a week?
Grenades point is valid. If it wasn't for the possibility of raising cash for the Botswana exploration I would be loading up here in anticipation of the Zambian ramp up this year. I am sure many others would be too. This Botswana BS is holding the SP back. Spin out the non Zambian companies, stop taking so much cash out of the company and incubate our upside of the Zambian JV.
Seis, I have already stated I will buy lower if SP continues to drop. My postings will have zero effect on the SP. I will buy some more when I think the SP has stopped falling. My biggest concern at the moment is a raise to cover the Botswana drilling. As long as that is unclear I think the SP will continue to drop. When I do buy more it wont change my POV on the management. Further investment will need to be in spite of them not because of them.
Lantier, salaries deferred not sacrificed. The DLA's must be pretty substantial now. Would have preferred the BOD to have taken shares in lieu of salary if I am honest. Would have shown more confidence on their part. Strange why they didn't take payment in shares given the current share price. The outstanding options and the deferred salaries must represent a large chunk of the AA payments. Hopefully they will have enough cash to cover the upcoming Botswana drilling. As, above once that is clarified I think some people will be happy to invest more and help support the SP.
Would you guys honestly not prefer the spin out and incubate option I suggested?
i believe that the arcm management have the perfect opportunity, at this precise moment in time, to set us on co**** for one of the most exciting investing journeys we have ever seen.
i believe that they have an opportunity to set themselves and arcm aside from the normal aim exploration cycle of raise, spend, rinse, repeat that most companies and management teams thrive on.
i believe that the timing is now to spin out the non zambian businesses / interests into a newco. leaving arc as an incubator for our share of what, imo, has the potential to become the most exciting exploration story in africa over the next few years.
i believe that this would leave a clean investment proposal. a fully funded company, with 1 purpose, with minimal dilution fears and is ready prepared for any future liquidity events.
i believe if they spun out the non zambian assets, reduced the management team to an absolute minimum, agreed to take payment in arcm shares they could set a new standard amongst aim exploration management.
i believe that they have a very rare opportunity to set in motion a very different type of exploration cycle of raise, spend, reward, rinse, repeat.
i believe that if they enacted this plan they would regain the trust of the market and their standing as an early stage exploration management team would soar. and, they would easily fund the newco and future newco’s exploration activities.
unfortunately, for some balance, i do not believe that the current management team have the vision or the willingness to enact such a strategy.
hopefully i am wrong!
gl
mt
Look I didn't pick up any direct questions and hate dragging all this negativity out in the open. Lets agree to disagree on the managements, the competitiveness of the JV negotiations, how good the deal is, the surprise raise, the options surrender and the value in progressing the Botswana exploration.
We all agree that the Zambian licenses are exceptional, have exceptional potential and are now being explored on our behalf by an exceptionally competent company.
Let hope we can leave it at that! There has already been too much negativity today.
You guys just drag all my Arc demons out of me.
Steve, I do not think that we can compare the GGP to Arc. I honestly believe that the Unico Zambian licenses have potential or multiple Tier 1 deposits. The GGP Newcrest deal for Haveron was for one gold deposit. A good one at that but 1 single deposit. The possibilities here are on a different scale. My personal take on it is that Arc should have tried to secure a deal which took them through to DFS or maybe even production.
Seis, I don't get your point re the exclusivity agreements. There should have been no exclusivity agreements at all. You are correct there were at least 2 other interested parties that I know of. How do you know that Anglo offered the best terms? How do any of us know that Anglo offered the best terms? Have you ever seen the terms offered by other parties? How would you define the best terms? The largest exploration commitment? The largest cash component? How far through the project development pipeline the JV would carry Arc until they have to contribute? As above I believe that is Arc had managed to secure a carry through to DFS or production the SP would already be multiples of todays price.
Hi Rio, typing and walking not my strong point.
Yes, my personal point of view is that the endless exclusivity agreements with Anglo and the fact the Arc management were openly stating that Anglo were their preffered partne led to a long drawn out uncompetitive process.
Seis, you seem intent on dragging negativity out of me 😁
On the management the lost my respect and IMO the respect of the market by raising funds within weeks of stating in investors conference that they were fully funded. By cashing in their options at a nice profit and tried to paint the picture that it was in the best interest of all shareholders whilst they were the only people who benefited from this. Then there is the unompetitive farm out /JV process they emcouraged / oversaw. Then there was the Tingo DD issues. And, finally last week trying to sell the Botswana results as warranting follow up despite it being obvious that they do not.
Regarding the Botswana licences. Review grades, widths and depths that the management hid away at the very, very bottom of the RNS they conveniently released at a time which did not allow anyone to digest ahead of the latest call.
Put all that together and I am sure you will understand why I do not have any faith in what the Arc managemnt say and why I am suspicious of the Arc management's plans for the future in Botswana.
Reassuring to here that my sometimes contrarian view has not led to me being disregarded as an obsessive de-ramper.
I understand the frustrations of some posters here but I honestly belive that groupthink is one of the most dangerous phenomenon for PIs who frequent these forums. Over the years I have seen it set in with many PIs, companies and BBs. This has at times led to heavy losses for some investors. I have seen friends life savings wiped out IMO as a result of groupthink and not properly considering cotrairin views.
I personally just try to do as much unbiased research as I can into any company I invest in. For my own benefit. I do not always share my thoughts but feel it necessary to speak out when I think my point pojnt of view is contrary to the Group and i think people should atleast consider my point of view. I assume that that most other posters are doing exactly the same an withbsimilar motives. Therefor I ensure I read, digest and condier their views. I will continue and hopefully learn from other posters and help bring some balance to the forums I post in.
GLA
MT
Keeping the current SP and ALL valuation at this level suits so many people at the moment. Any party could be managing the company valuation for perfectly legitimate reasons. I personally think that completion of the MIIF investment at the LOCAL / project level will be the catalyst here.
MIIF investing in ALL aligns their interests with ours. I suspect ALL would have insisted this is the first stage of thejr investment for that very reason.
MIIF investing at the project level secures their interest in Ewoyaa no matter what happens with ALL and aligns their interest with Piedmont.
IMO MIIFs investment in ALL and the Project aligns all parties interests, ensures ANY future Ghanaian approvals required for whoever is controls the project and IMO Katersee that is when the real ALL M&A show will start.
Seis / Fulmar. It is folly to write off any poster who questions what a company says or does as a deramper with alterior motives. Some times they just have an alterior point of view.
I have been clear in my views here. I love the Zambian licences but do not think the Botswana licenses merit any more expenditure. I used to have faith in the management but this has been eroded over time and I no longer do.
These points are my true, honest opinuons. I or any ither poster sould be able to convey such points without being accused of having alterior motives.
Seis, i consider every post you post on here fully. Your understanding of the Zambian licences is very good. I do not know if you are from a geological background but your understanding tells me that you know what you are talking about. Yet when I raise questions over the Botswanan licences you seem to default to the position of the management say they are good so they must be. If you did the same level of investigation into the Botswana licences as you did on the Zambian ones you may struggle to justify follow up drilling there. Hopefully if you do and if you come to the conclusion that the Botswana licences are not as prospective as the managemnt claim you will be honest enough to put your hands up say so.
Seis, I do not talk my book. I call my buys and sells so people know my positions. If Arc drop between now and May I will most likely add to my holding. Then you can say told you so. MT was talkimg Arc down to buy lower.
However, after over 20 years in this game I understand that no matter what any of us PI's say or do we have no bearing what so ever on the valuation of any publicly traded company. The market sets the value. As simple as that. Unfortunately the same cannot be said for company directors. Their words and actions can have a massive impact on a company's valuation. And IMO we are suffering from that at the moment.
Lantier- I did miss it. Hopefully you are happy to share Remys views on the Botswana licences. My intention is not to promote negativity around Arc. I would love to have faith in the Arc managemnt. I used to have faith however this has eroded over time.