Member Info for Moljen

What a hoot as we near the end of quarter 1, a quick review of hopes and expectations from Q4 2019 and what team ramp would have you believe :
No debt - see this old chestnut is still coming out even though GR in last webinar categorically told you the company does have debt
Plant arriving to dig holes and generate revenue - mmmm, well no announcement means no arrival. A whole 19 hour journey and a few permits but still SFA. Anybody else getting the feeling we have another KME abortion on the horizon?
Tailings off to processing - despite Napom's erstwhile opinion that 2 weeks was reasonable to get results we're well past that now. Presume we ain't actually got the dosh to get the work done.
Nieff meeting 11th Mar - guess sfa occurred there either as the crass excuses about how long it takes for an RNS to come out have started
EPO - ha ha ha ha ha
So a qtr of nothing, nada, zilch, sfa etc, well except for one thing the top of the pyramid have continued to take their obscene renumeration and we're 3 months into the MNH agreement, what must we have now run up for these over the quarter £150-£250K is my estimation. Going to need a 20% dilution just to cover all this crap before we can consider money for moving forward.
And just to add the joy only another few weeks and the Regent loan is up for renewal ..... by gum the effect of compounding interest will be taking its toll there.
Probably explains why you can buy for just over 0.0007 and get just over 0.00065 to sell, pretty much odd's on we'll be revisiting the lows of last year as it's going to need the mother of all dilutions to get this back on track.
Pays your money and takes your chances ...... just going to sit and watch, bigger problems than just needing patience with this one IMO but each to their own. Why bother now when it'll be 0.0004-0.0002 if the Q1 momentum continues (yes that's taking the P).
Roll on EGM, should have done it months ago when it was 0.00175 because it's going to hurt like hell in the current environment.

Morning Mal, neither aside from cutting back to the just under 9M I've always kept in my SIPP. Gave the analogy a while back that this is now just the Grand National outsider equivalent but at least there your odds are 66/1 whereas at best here 10/1.
Not sure what you're expecting - questioned from Jan till early Feb (when stopped posting) the arrival of fleet and tailings as until revenue is generated the odds of fundraising rise, turns out was right so odd's for dun raising have increased yet further. We all know GR's modus operandi as even RNS's have to be dissected with a microscope to ascertain what they actually mean so the mumbo jumbo from the Mining Exhibition was just pure GR showmanship (remember the sample balanced on the head) and was then exploited by the same old people to ramp this up to 0.16, was it, whilst all the time saying they were buying more. They may have done so but is it beyond the realms of fantasy they were merely offloading the last lot bought at .08?
We're back at the 0.8's now so discussion is will it hold, a new battle thus begins between the ever increasing odds of funding (dressed up no doubt as something else but the "general working capital" clause will give it away) and the ramping. No doubt there'll be tweet or something similar which will tell us when it's started.
My 9M will stay where they are unless it appears the increasing odd's of funding show signs of winning and the 0.08 not holding which is exactly where I was a month or so ago and exactly where this share was.
So please use your new platforms and pat each other on the back for providing each other with support, not too sure what they achieve when the same old story from the last few years continues but they obviously make you feel better so no harm.

12 months? more like 48 isn't it with all the shouting how good it is from the roof tops and ****ging off anybody who questioned the Emperors new clothes. Blast from the past with Woodpeckers, he / she called this spot on 4 years ago and was hounded off the Board.
Hanging heads in shame, totally agree - start with the BoD, then the Group, then the pump and dump merchants who come out at the start of every new month

Whoopee another month comes to an end - so where were we last month and the month before? Well we knew where all the equipment was and it needed to do a 19 hour journey and we also had 5t of tailings to send off for analysis. Either achieved? Of course not (hey Naps 2 weeks to get the tailings results back you said about 3 weeks ago PMSL).
So what for next month? Probably more of the same which also means we'll have the week and a half of pure unadulterated ramping with Naps, Charlie and lord knows who else reappearing to tell us how good it all is, pump it back up if they can to sell rinse and repeat.
So 2 months of overhead spent, 2 months of commitments to the MNH operations agreement - the amount owed by the time anything happens here will probably wipe most people out when it gets settled.
Nathans strap on is probably worn out it's been used so often on any genuine lth's by the BoD and Group together.
This share is so funny as long as making money isn't your priority - absolutely still no reason whatsoever to buy now aside from a trade as hot air doesn't pay the bills.

LO - the issue of funding has not been addressed in the slightest. The CFO gave monthly cash burn rate which has subsequently been well proved to be an underestimate, a correcting RNS was required for the Gnano loan (we don't have the amount originally envisaged) and it currently looks like a raise will be required before the end of Q2.
The can has merely been kicked down the street not addressed, not impressed with the actions (integrity) of the BoD over the last 2 years an equally so with those who continue to say everything was done correctly. It wasn't.

Had a response from Brendan, Nera Consulting is registered in Delaware - you need to spend $20 and know your bank routing number (have no idea of mine I'm afraid) to pull a documents including something called a tax franchise return. Something they have to do each year and it'll let you know who owns it.

It was also posted in an RNS 21st Jan - shame we couldn't see a picture of the plant arriving and being put to work, after all we've committed $1.2M for it and it was being mobilised 28th Jan.
Take it from these once could assume it's not quite made it yet, are w having to push it along the roads rather than drive or transport it?

Morning Mal, alternatively might just be interested to know who actually does own MN Holdings as Nera Consulting was a new one to us all last week and as posted there are some ?'s over who they are considering we've just put over $1.1M their way in two guises. Full links etc all provided, I would have thought it would of concern to all especially with the due (or lack of it) diligence comment in the RNS but each to their own.
Likewise with $1.1M and the previous KME mobilisation fiasco questioning arrival and tailings processing seems to eb a perfect reasonable line fo research to follow. Revenge, spite etc, not too sure how you're reaching that conclusion

Perhaps a bit strong but would agree little more transparency is required, no doubt we'll hear from the nomad, broker or Prem to clarify.
Now we know somebody else actually owns MNH we have no idea of things like collateral loan charges or inter-company charges so I'd hope we actually get full sight of MNH's Accounts, was never overly enamoured with the replacement asset value story and the OTT ramping on the board at that time on it, a little too pat?
Anyway roll on next week and perhaps some straight answers including where this bloody mobilised plant is and the schedule, one would expect these sort of things were in black and white before committing to the agreement we have.

Actually it was quite weird, message from Faud but sent from the brokers cornish email address. Might have been a message passed but why bother, anybody can send an email from anywhere nowadays.

Silly boy Napom - to research a company registered in Mauritius you need the Mauritian registry the UK one purely relates to UK registered companies, doh!
Considering the amount of shareholders you represent don't you even know the relevant jurisdictions for all our relevant entities must be a tad worrying for them.

For anybody interested had a message from Faud which was then recalled. Basically said travelling back from Indaba and they'll let me know next week, wonder what's so hard just to say nah full details to follow.
Hopefully their journey back is quicker than the journey the plant seems to be taking

Forgot the Nedbank confirmation that they own MN Holdings registered in Mauritius
https://bammalawi.org/banking-sector/member-commercial-banks/125-nedbank

Also IMO a bit strange that now a full 10 days since the equipment needed to process the tailings was mobilised and we still haven't heard of it's arrival or production restarted. Long journey to undertake not really cutting it anymore as it's only 19 hours and a production restart is definitely material so needs to RNS'd. KME all over again?

Anybody had any feedback or made any discoveries as to who Near Consulting are after the recent RNS which says they're the owners of MN Holdings ?
Tried Faud, the nomad and the brokers but none of them seem to know the answer as no response which is a bit concerning as they've all put their names to the MN Holdings RNS's.
For newcomers where we're up to is:
1 - Only Nera Consulting Limited thus far identified is registered in Nigeria
2 - Address where it is registered belongs to a firm of solicitors and based on the website and linkedIn profile of he "managing partner" it looks dubious at best
3 - Suggestion that the MN Holdings registered in Mauritius is actually a Nedbank company which is at odds with the information provided in the RNS's
Links to all of the above below.
RC NUMBER COMPANY NAME ADDRESS DATE OF REGISTRATION
1131511 NERA CONSULTING LTD SUITE3004ANBEEZPLAZAOPP.CACWUSEZONE5,ABUJA,FCT 2013-07-26
https://kingshousesolicitors.business.site
https://ng.linkedin.com/in/victor-nwadigo-a6474920

Just a little strange not hearing from the people who signed off the RNS's as one would have thought easy enough to do

Acker, getting late and getting a headache. The Panama Paper database is quite good fun hunting out the relationships, for example MN Holdings brings up under the other section Calabrese Holdings which is associated with none other that Stephen dates and Jm Mello. What tangled webs the super rich live!

Anyway, all this brought up one other thing which sort of put a complete and utter downer on any cashflow which may or may not reach us at some time in the form of a dividend from MN which is that Cambrian's loan was for $350k at 10% interest repayable 2021 so best part of $400K due back. As no note that this was also converted I think any hopes of a bumper divi from there next year is well and truly out of the window as that will need paid back first

Acker, not sure what getting at there? Nedbank perfectly okay and respectable. MN Holdings are registered in Mauritius (verified) but Mauritius is very secretive so been unable to see whether Nera Consulting Limited are on the share register via that route.
Going to have a little look on the ICIJ Offshore database (Panama Papers) to se e if any of them pop up on there and start firing some of the company and individual names associated with Prem through and see what comes up.

share prophet , it was auto *****

hint cc editorial@*************.com , you never know Tom might be having quiet day and Prem have been on his radar once or twice

No record of such a transaction having ever occurred, just drafting an appropriate email now to the nomad, broker and Faud, after all the RNS does say direct enquires to them. Anybody feel like doing the same its  corpfin@b-cornish.co.uk &
jerry.keen@shorecap.co.uk

Hi Acker, well I've managed to track down the Managing Partner at Kings House Solicitors where Nera Consulting are also based - https://ng.linkedin.com/in/barr-victor-nwadigo-07113b93
Make your own mind up
You know when you get that email from the Deputy Minister of Mines' Assistant in Nigeria who has found $75M in a dormant bank account and needs some help getting it out the country and just needs you transfer some funds to facilitate it, think I've discovered how George is going to drill Zulu.
Whose going to tell him?
PMSL