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Good film...but not a good Monday Dawn for us lot yet again!
One trade mirrors my holding almost exactly (although not ME! I hasten to add)
10-Jan-22 09:15:47 3.9001 151,573 Sell* 3.90 4.20 £5,911 meaning that if I sold today I would lose around £37k.
There are many many more like me and many more with substatially greater losses I know.
I wont sell, I may as well ride this to the bitter end, but it does reinforce my wish for Masterman to man up be a decent CEO for a while and tell the bloody truth!
There seems to be increasing lack of trust and faith in him as CEO and in the company as a whole and his habit of silent deep running at times such as this simply demonstrate to me his lack of depth and credibility as a CEO of this project.
"I do hope they don't keep everyone hanging on."...I'm told by a friend of mine who is a writer that fiction takes much longer to write than fact.....Just saying.
I dont think it is particulary essential that Masterman makes any immediate statement on numbers but I do think it would show some backbone as a CEO if he made some sort of interview to explain his failings to hit expectations and promises to his shareholders. We know the numbers wont stack up and we know that we are in a very precarious situation in terms of any future as a viable business, but he should have the balls to front up and tell us the truth for a change.
Is there any truth in the rumour that Alistair Campbell is now running our PR? LOL
Basic engineering problems that should a) have been foreseen by experienced mine management b) How long does it take! they have been using these paltry excuses for far too long. And before someone says there are always problems with kit, I kmow I used to be in the paper industry and the paper mills are huge and complex, far more complex than a mine and in all my years I neverf knew one start up with this many problems. There is only one problem with this project and its management.
Only relevant if you own a succseful working mine......we dont. But like Troajans interminable postings of historic BS. The past promises and videos are irrelevant. After the latest RNS we must be living day to day hand to mouth trying to eke out some sort of pathetic profit from a badly constructed, badly planned badly managed mine. Only one man to blame, Masterman. Hes is the boss its his responsibilty, he let Pablo go, he apointed the CFO. he signed off the supply orders ( assume being such a huge spend!), he didnt plan for inclement weather, he didnt plan the silo's.
I could have (should have) sold these back in 2017 when i could have walked away with a £35k + profit. Sadly I didnt, I'm not nleating dont worry, I'm a big boy and stand ny my decisions. Today I'm looking at a paper loss of the same figure.
I made my decision thats my fault. BUT...my decision was based on Masterman slick presentation and his seeming then on the ball style. Had I known then that he was king od the snake oil / used car salesman I'd have run a mile.
I cannpt really be further disappointed in this share now. I have written off my investment as a total loss and merely leave it in because of some remote chance that this will get turned around. In my heart I firmly believe that we will see this in receivership or sold off, eitrher of which will decimate hundreds of thousands of LTH investements.
If nothing else Masterman owes us LTH an interview on Proactive to fully explain his failings on this project and what he is doing to try and pull this out of the fire...or should I say flood! Is it just me or have things taken a real nosedive since the appointment of the CFO?...Why did Pablo really leave?
Re my earlier post. Rainfall and Flooding should have been forseen, preemted and planned for. PPPPP. Masterman is CEO the buck stops there. If his local mine management cant do the job he needs to get someone who can. Its not difficult, I've hired and fired a few in my day. If you aint up to the job you go.
OMR. You make your own luck in this life and certainly in business. This isn't about luck its about p*** poor management, P*** poor strategy and P*** poor planning. Flooding and rain issues should have been pre empted with effective drainage when the site was being built.
Oh Troajan...can't you see the SP? Where it is now and Where it was, look at the graph. Its like a black ski run!!
There is no confidence in this project. It lurches from one unmitigated disater to another. Its like a crappy cricket game...rain stops play!
It constantly fails to do what it says it will. It constantly fails to meet promised production or even get close. Stop living in the past mate. Wake up and see where we are....heading towards all of us LTH's getting a right royal shafting IMO.
In reply to my previous post which I hit the send button on just as the RNS hit the deck. Like I said excuses and BS. I will never see my target break even of 29p in this pile of utter s***e. It wouldnt surprise me if we didnt see sub 3p today on the back of this. No wonder there were some big sells...the eleaky sieve was working well.
Masterman is a disgrace! It rains sometimes Michael its not Australia, you should have factored that in!!! What is it with parts supply? We already got off to a bad start with the supplier, surely you should have found a new and relaible source of parts by now. What an absolute disaster RNS yet again. Appalling.
The CEO equivelent of "the dog ate my homework sir"..the teacher never believed you were telling the truth and I for not one second any longer believe a word that comes out of mastermans mouth.
PPPPPP. Proper Planning Prevents P*** Poor Performance.
And here are this weeks excuses.....Please sir..it rained sir...wasnt my fault sir.
"Heavy rains in December led to production stoppages caused by wet crushed ore blocking the silo. This was compounded by only having access to mid to low-grade ore, associated maintenance issues and supply chain bottlenecks for replacement parts. All of these challenges negatively impacted production during Q4 2021. However, were it not for these challenges, the Company believes production would have been very close to the lower end of the previous production guidance issued."
"As a result, the Company now has to adjust full year guidance to 520t of tungsten and tin concentrate compared to previous full year production guidance of between 650t and 750t of concentrate. The Company expects to issue a Q4 2021 production report later this month."
GUG.
No one wants them....not even Masterman I bet. He knows what is coming...thats why he is keeping a low profile. Wouldn't surprise me if it wasnt him thats been selling off chunks! I can see a pre pack/ phoenix on the horizon. Used to happen all the time in my old print industry days. Shut on a Friday open on a Monday same premises, same kit, same management, walked away from the debt. Ba*****s.
This now has disaster area written all over it. LTH like me will be stitched up and sold down the river real soon IMO. It'll cost me £43k which will sting a bit but there are an awful lot of other LTH's who are in much much deeper, lots of 6 fig investments that will probably hurt a lot of families quite badly.
This is my last remaining share. Having now hit state pension age I had been planning to cash these in at a profit ;last year and leave the market behind...oh how wrong was I.
I was looking back at the old YouTube video's over the Xmas break (partly inspired by Troajans love affair with old news) and it struck me what a good sales job Masterman did to get the investment in. I was impressed myself. Drone flight over an all but complete mine site, lots of stuff on tables, blastings, lorries loaded up, I mean who wouldnt want to be a part of that set up?
The last video entitled 'thick band of tungsten coming off the tables' was well over a year ago.
Since then nothing but bad news and broken deadlines and interminable BS. Snake Oil Salesman? The very best.
Average age of death 'with' Covid is well over the UK average mortality rate. That is 'with' covid NOT 'of' covid...distinct difference.
The vast majority of deaths involving covid have been in people of advanced years with life limiting/terminal illness who having been admitted to a hospital or nursing home for their last days have caught covid and died infected by it but not because of it. The government figures are pure fantasy and include any and every death for any reason within 28 days of a positive test. The real figures for pure covid deaths ar an absolute fraction of what is published by HMG and PHE. Their focus is on instilling fear into the general populus and encouraging the uptake of the vaccine through that fear. I'm not an anti vaccer, I've had 3 x Pfizer jabs. The current levels of hospitalisation with the latest strain are in excess of 95% un vaccinated people and I'm told by NHS hospital staff in my area that there is no one on a ventilator. The pattern with virus's always follows the same path. Initially highly pathogentic with relatively low transmissability which then mutates through various successive strains into a highly transmissible form but with low pathogeicity. The virus doesnt want to kill the host, that is suicide for it. Omicron is almost as weak as a severe common cold (which is what coronaviruses are). We need to all get back to normal now, mix normally and crack on with life and the economy, unless you have underlying health isssues that put you at risk, but then you are at the same or greater risk from flu anyway and we dont lockdown every year through that do we!
Anyway, thats my take on as someone at the sharp end of death and funerals.
Most of the clients in recent months have died from lack of care and diagnosis from GP's and Consultants who are not seeing patients face to face and missing vital early diagnosis and treatment of cancers and heart disease. Those deaths are soaring and making C19 look irrelevant. You heard is first here!!
OH TRoajan, Troajan, Troajan...still stuck in the past.
Doesnt matter what the tungsten and tin prices are unless you have an efficient and fully operational mine....We dont.
It also doesn't matter what was posted on any websites or YouTube over a year ago. Irrelevant. The only things that matter right now are the questions Mastermam seems unwilling to answer.
EXACTLY what are we currently producing?
Are there any current issues with production stopping us hitting the promised numbers?
When will the next dilution take place? ( We all know it will!!)
When will Regua be fully operational?
And WTF happened to the promised Gold??????
These and many others questions are on the lips of many many long term investors, like me, who are currently standing a huge paper loss.
Its time Masterman stood up to be counted and for once told it how it is. Honestly.
We have the right to know. Right now I doubt any of us will have any investment left soon. This mine needs to be made to work now, no more false dawns, no more false promises. Time to deliver Masterman! Last chance saloon pal.
As someone who deals with dead people quite a lot...I can safely say that the government have blown this whole thing out of proportion from the start and especially with Omicron. Omicron has the highest level of transmissibilty of the mutations so far and the lowest pathogenicity so far seen. All viruses want to infect a host but not kill it and they mutate to acheive that by becoming less deadly and easy to catch (ie the common cold coronavirus). This will become a prta of our lives justr as flu is. So we are going to have to stop being scaredy cats and crack on. The govrenment numbers ar BS because they account for EVERY death with 28 days of a positive C19 test. So if you die for any reason within that time in a car crash, fall off a roof etc becasue you tested positive within that 28 days you go down as a c19 statistic. I would estimate from my experience of dealing with deaths througout the pandemic that the real numbers are probably as low as 10% of the published figures and the vast majority (not all) of the C19 deaths I'[ve dealt with were in people who had life limiting serious or terminal illness who went into hospital to receive their palliative care and contracted c19 before they succumbed. The c19 didnt kill them and in most cases had no real impact on the outcome. Its all just more Boris lies. Just to put a bit of perspective on it. Every day in the UK around 450 people die from heart disease and a similar number from cancers and strokes. Those numbers have gone up and will go even higher I believe because the GP's are not seeing people and making an early diagnosis and the hospitals are running late with appointmenst for CT and MRI scans too. I've dealt with far too many families in more recent months where the cause of death has been an undiagnosed or untreated illness thanI have any c19's.
I really hope that Masterman breaks his interminable silence this week. He really needs to open up to whats happening and explain the background behind the plummet in the SP before the close of the market this week. Mastermans silence is rarely golden....oh yes Gold I remember now...whatever happened to the gold?
Wouldnt hold your breath.
Is Del Boy posting on here? This time next year Rodders.....If I'd got £1 for every post that has stated "This time next year."...every year since I've been invested here I'd be in profit not a savage loss. Sick of the manyana promises (that are never met) by our glorious leader. If, and that is a huge IF right now, this pile of dirt ever comes good it will be long after I've shuffled from this mortal coil, but at least my grandchildren might profit. This wont be coming good anytime soon and not even next year IMO, and yes I am invested before that gets thrown in the mix. Of course many of the rose tinted mob wont see this because I'm probably filtered for holing a different opinion. I wouldnt filter anyone as I like to see all opinions, helps me form mine.
Fake Investors are those who dont sunscribe to the Rose Tinted Spec clique viewpoint that Masterman can do no wrong and walks on water...which is quite handy seeing as he managed to flood the mine...Joke everyone...I know he didnt flood it really....just didnt account for any rainfall.
So because someone who doesnt hold a positive view on Masterman and the management of the run up of the mine but who is still heavily invested their opinion is irrelevent. I've made my position clear. I'm well invested here, have been for years and will continue to hold simply because I dont need the money and can wait it out to see if he (Masterman) can pull this out of the fire. I am as entitled to my view on this as anyone else who is investerd here...filter away through your rose tinted specs....lol
I'm hoping it's decent too rather than the current descent yet again. There is a reason there is no faith in this stock by the market....Masterman. Far too many false promises, broken deadlines and disappointing results. This next RNS could be the most crucial in this company's past 5 years. It really is getting make or break now. No doubt the fan club will leap to his defence but I'm afraid the sp chart speaks for itself. If the graph was a ski run it would be classed as black its that steep!
My thoughts exactly. I'm expecting more broken promises, and figures not what they should be. Shouldn't be surprised now I've had years of masterman over promising and underdelivering. Should be used to it. Still, one day we may have Portugal up and running and who knows sometime in my kids lifetime the gold might eventually appear.