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Agree with your post sansavatar.
I noticed RY implicitly say similar in one of the recent interview/podcas(that the PFS wasnt complete yet), I cant recall which one.
I hope that, under false pretences, alot of people do not get burnt here with their very recent holdings...
Many LTH are already seriously underwater from his previous underhand tactics.
If this does end up being the case, People should pay attention as it means RY is actively willing to adapt his strategy, and is also very conscious of how is games are being interpreted(used to fool people).
You only have to read the forum posts here, majority expect the PFS to be with us in September... We we only have 10 trading days left, so we will see about that.
Suratosa, yes almost £200k per year is an excessive amount when its currently being paid by shareholders who have already seen theire investment lose 99% of its value.
Also any future fundraisings to support this salary will reduce the shareprice further and so reduce shareholders value again.
You also said 'At 31 December 2017, key management comprised eight (2016: seven) people'
If we conservatively say the remaining BOD get £80k each, including MS, thats a total around £800k per year in salaries.
Dont forget a temporary reduction in salaries would also allow the company to operate at a profit much sooner, and would also reduce any raisings amount...
The salaries wouldnt be a problem if the company was standing on good grounds, but it isnt... Mega low SP, Debt, etc...
Its important to remember that many PI holdings here have lost 99% of their value.
Understanding this allows you to see why its rational to ask that while the company is going through this critical period the BOD sacrifice 20-40% of their salary to help keep any further PI loses to a minimum.
If they do not care, then the question is how much more costs are they asking PI to carry?
I am lucky that I bought in here at the levels we are now, but I know many personally whose £5k investment is now £200.
Most of the loses here are attributable to SCUMBAGS like John Kennedy that trashed the company with sheer incompetence.
If my memory is right, he is now working for the NHS, no surprise the NHS is a complete disaster with people like him on the payroll, Probably still being massivley overpaid comparing to the value the walnut-brain can actually offer.
In true definition of the word, John Kennedy is a PARASITE.
Admin fes really need reducing, recent RNS did say more cuts to be announced...
I wont be supporting another fund raising, how about the BOD take a reduction in pay?
If my memory correct they are on salaries >£120k.
All these fundraisings are good for is funding thier overpaid excessive salaries, Im sure they can take a 40% reduction for the next year to help bear the expense instead of always throwing it on us?
John Kennedy throe £2m in the bin by delaying dpd sale
Crazy, How is robins position going to become 'untenable '?
Are you expecting him to stand up and say "I Robin have missed the PFS, I will now step aside and allow somebody else to take my position which I have worked in the last 11 years?"
Or will you be calling an EGM and using your voting rights to remove him?
Also, with regards the the PFS, Robin never once said the PFS will come in September, its been assumed here by many.
What Robin did say is there will be a Media Week in September...
ohwhatanight, Escondida is owned by BHP(57.5%), Rio Tinto (30%), JECO (12.5%)
I could see them splitting costs with 1 other major, dont know about 2 or 3.
As ecuador is a relatively new jurisdiction a second partner would share some of the risk.
Perhaps my misunderstanding here, is that the warrants are only available to the BOD? and not outsiders?
I thought for example, if Bank Lends MIN £5m, they in return give the bank Warrants worth £6m which can be excersized at x value... if thats similarly what happens, then how can the bank be expected to increase MIN SP? surly only the MIN bod can?
Im obviuosly misunderstanding this s**t somewhere.
SavShare, I noticed in your article "Lundin could also spend up to $150 million to buy a promising exploration company"
That statement reaffirms my position of the Lundin co - Tighter than a gnats butthole with their money.
They will only spend billions on Mines... SOLG isnt a mine.
https://uk.trustpilot.com/review/ii.co.uk?languages=en&stars=1
Interesting the amount of 1 stars that company gets on an almost daily basis. All long term loyal clients on their way out.
LL, III as a broker has gone horribly downhill... You should consider many of the other alternatives whilst you are in the early stages.
Wouldnt surprise me if III eventually collapsed, everybody I know left them months ago.
Whats interesting is just prior to close, the SP was recalculated to 3.80p
in align with the last trade of 16:16 125,000 3.80p
Then 20 minutes after close the SP was was readjusted to close @ 4.03p.
Is the close not supposed to reflect the buy/sell price? £23k worth of sells, £6k of buys... How do they calculate the close price?
Seems out of thin air.