The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Some of us have been here for thousands of years, Mwhahaha: M:
Have you not sussed it out yet Wress, this is Hell, you are trapped! M:
Possible that they have been trying to keep the excitment down untill they own 100% of Mutsk. M:
The whole company is structured around earning the 80% in Mutsk, so we will get an RNS next week saying everything is in order and we now own the 80%, why am i worrying?? M:
There was a lot of buying when the sp was around 0.14 as the drilling company had accepted a deal to accept shares valued at 0.19 as payment, Orogen then did a stupidly low placing and the sp dropped sharply, all of these guys were buying for a quick in and out but did not get a chance, Smidsy etc. i might be wrong but i think most of them are still waiting for an exit. M:
Seriously, i thought you were in for the long term? lol. M:
What colour of watch to do you get for 6 months service in these companies? M:
Makes you wonder what they are actyually getting paid for and what actual work is getting done, laughable. M:
Orogen Gold (“Orogen”) signed an initial Memorandum of Understanding with Georaid CJSC (“Georaid”), an Armenian registered company, covering the Mutsk gold project in southern Armenia in January 2013. This was superceded by a Joint Venture Agreement (“JV Agreement”) signed in February 2014. The JV Agreement signed with Georaid covers the following main points: Orogen has the right to earn an 80% interest in the Mutsk project by spending US$2.5m on exploration by 31st August 2016. If Orogen continues with the exploration programme beyond 31st December 2014, then it will issue Ordinary Shares in Orogen to the Georaid principals to the value of US$100,000. Once Orogen vests its 80% interest then both parties shall contribute pro-rata to further costs or dilute their interest. If Georaid’s interest falls to 5%, then Orogen will carry Georaid’s costs through to mine production, if/when this is achieved. Orogen will recover the costs of this carried interest from Georaid’s share of production from a mining operation. If a positive Bankable Feasibility Study is obtained on the project, then Orogen will issue further Ordinary Shares in the Company to the Georaid principals to a value of US$300,000 Source: Orogen Website. M:
Was the deal not that we had to spend 2.5 million on drillling byt the deadline, or is it a cash thing? sorry i could read back but have lost the will here a bit now! M:
It would be good to know where members were from ie a UK or USA in brackets at the end of the user name, only saying this as humour can be different in different countries, i have absolutely no idea where Eric is from as he posts in the middle of the night sometimes and then mid day the next, as for Jibber i take it he is from Australia or something. i think either Eric is from the middle east or is just an insomniac? M:
Hopefully we can get some more regular new after the buy in has been completed! cheer everyone up a bit! M:
Yeh, i know what you mean, i don't mind when the wife calls me it but that is it! M:
Some people just do not like the C word, even Eric it seems. M:
Lol! M: