Member Info for Moneyman64

All these jam tomorrow posts-in reality Bird has achieved very little in delivering shareholder returns continuing to use apparant indefinite NDA s for providing shareholders very little information.

The only finite item delivered here to date is material shareholder dilution -why do this if the assets are as valuable as indicated and a deal is to be delivered in the next few months.

10 bagger?-the share can’t even get above a 1p!

As contracts on the SA business have not being exchanged personably there must be a healthy boast to profits from higher PGM prices

The problem lies with having a very part time CEO and having no one to deal with shareholders questions -the lack of response shows contempt by Bird for shareholders -I can’t help feeling a fulltime CEO would have had more time to explore the alternatives to financing than the standard “dilution discounted share issue “ barring in mind the assets held by the company.

Other companies I hold shares in always have the courtesy to reply to my questions whether it’s the CEO,CFO or the Investor relations manager

JuniorL-it is not trolling questioning why it was necessary for the company to have a discounted placing when the company has assets worth many times its share value and we have been told a deal is not far away.

You might be happy to have your investment in the company materially diluted (to the benefits of others)and options granted to new shareholders on top-I am certainly not

All very good but love to see something here other than Bird short changing long term shareholders with a totally unnecessary large discounted placing if a large deal on one of the company assets is just around the corner.

They are other ways of obtaining short term finance which is not to the detriment of long term shareholders

I’d rather wait six months than give away a third of the company away for approx £5 million (including warrants )

Surely with the alleged worth of the assets a short term loan of a couple of £ million could have been obtained without the need to materially dilute longterm shareholders

If the fabled game changing deal was imminent why the large dilution of long term shareholders -surely some sort of short term loan would have been appropriate-even from Bird himself - (could have been cleared with a placing down the line if things did not go to plan).

Bird does not care about longterm shareholders interests

Unfortunately the warrants are excercisable whether we need the money or not-so longterm shareholders will be further diluted if the shareprice gets a decent boast from a deal.

Until a deal is announced I would take the timelines in the RNS with a large dose of salt

Current shares in issue -1160,000,000

Placing -212,500,000 plus warrants (when exercised ) 212,500,000 -425,000,000

Shares after placing and warrants 1585,000,000

425,000,000/1160,000,000 - (ratio of old shares to new shares to be issued) -36.63%

If there was say a £10 million dividend

Under current shareholding -.086p

Under enlarged shareholding-063p

Based on Birds previous record I would not put any faith in the timelines in the RNS -it is now a year passed the date that we were told Luansobe would be in production

Not disputing the potential of the GLR assets -just why was such a large discounted placing was necessary and why the need to double the potential dilution effect on longterm shareholders with the 1.6p warrants if asset monetrisation is a close as indicated in the RNS -does not make sense

Oversubscribed or not it still dilutes longterm shareholders by almost 40% if the 1.6 p warrants are exercised !

Not great for longterm shareholders

Not only a massive 18.75 % discount to the market price but another 212,500,000 warrants at 1.6 p

Absolutely taking the …….what total contempt for longterm shareholders

How very very disappointing -the old Bird could never resist firing the confetti gun at any opportunity and dilute long term shareholders.

Why or why can’t for once act in shareholders interests and not his own.

Why not sell an asset which we are kept told that even one is worth many times the market value and if the assets are worth so much why issue at a discount -once again Bird treating shareholders with outer contempt -time for him to go!

Any chance of getting the accounts filed and the market suspension lifted ?

9% equates roughly to just under $200 an ounce for Tharisa PGM basket price.

Nothing to be sniffed at

The last couple of years shows us there is a big difference between “What we should get” and “What we do get”

The HRW articles refers to Jubilee profiteering from lead treading at Kabwe-not according to their accounts

A 5-10 bagger from .75p is halve what it would have been from 1.5 p

If the shareprice falls to .5 p and 5 bags from there it will not be much of a return for longterm shareholders

100% agree with you Rodney T -the communication and the shareprice performance here over the last 18 months has been dire.

As far as I see it every hour Bird spends on his other companies is a disservice to the shareholders here-I have never known NDA agreements go on for ever