Member Info for MountTeide

60% down since the 24th December 'Deal' signing announcement suggests you have more money than sense !

'Look what Newcrest did at Wafi -Golpu . Beautong is almost exactly the same in terms of geology ! '

No it is not!
The resources are mainly supergene, secondary copper sulfides, not primary porphyry mineralization. The management try to compare it to Wafi-Golpu but that is primary and will be processed through a plant, not some crazy heap leach in the middle of a mountainous tropical jungle!

Beutong DD from and Industry Professional:

'5 km from the Sumatran fault system and at the intersection of one of the splays and a major arc normal structure. remember this is close to Banda Aceh

250 mm of rain on average every month of the year

Both porphyry and skarn mineralization and some later stage epithermal alteration meaning multiple phases and mineralization types

Mote present of argillic alteration in some locations and presence of arsenic as well (enargite)

East porphyry right in the bottom of a valley with a river running in it (remember the 3metres of rain every year) and also 'steep mountainous jungle terrain'

Core recovery is mentioned but no numbers provided except in a latter section where a 'core recovery vs. copper grade' mentions significant issues with core recovery and the presence of very high clay alteration. Note the picture of the core showing very poor rock conditions.

It's in Indonesia

Summary - stay away unless you love high risk exploration geology stories where the current resource would need to be quadrupled at MINIMUM to become interesting for a company that might build a mine. The geo-technical risk appears gigantic for this deposit'
AIMHO/DYOR

96 Posts today and 97m shares traded to date......should easily crack 100m !

Those who posted 'news' coming from an online private chat site on Friday, claiming that the $2.5m had now been placed in an Escrow account should be hunted down by the AIM Regulator.

Manini's hugely unconvincing video was probably shot yesterday, ready to follow today's disastrous RNS.

Looks to have given some in the 'know' the opportunity to exit prior to its release.

Manini video....body language of a tired, worn out old man who has aged 10 years overnight.......look and behaviour of someone who has insulted Mike Tyson's younger sister and heard that Mike is on his way to the ARS offices to 'discuss' the matter and give him some 'counselling'!

News sweeping the City is that Roy Chubby Brown has offered ARS a large six figure sum for Mainini's exhaustive DD on PTWIN/AE/Sugih!

Well, there's a first !

Manini has managed to give his shameless cheerleaders good haircuts all round........under lockdown !

He should stick to what he's good at after resigning .......by opening up an upmarket barbers in Melbourne for poorly researched investors looking for a good haircut.

Where's Owen Hegarty when you need him !

Exceptionally strong entry for the Rose Tinted Spec Award of the Year ?

If AE no longer hold much stock .....then a 20% holding at a circa 6 bagger profit, would see them having taken Manini and the company's owners for a cool $12-15m!

No, did have .......as I suggested they probably sold out most after the 24th December announcement ...... cashing in a 6 bagger !

The real worry now is the cash position......another placing to keep the lights on could well be on the cards.

$3.3m less expenses was raised over 10 months ago - the PTWIN Scam - fees for professional advisors and legal expenses will likely have, along with management expenses have blown through a very significant amount of that sum.

Sue......'I'm quite tipsy this evening... monday 5p open...'Don't you just love these stock market 'gurus' !Perhaps you should stick to scratch cards Sue and leave equity market investment to the well researched grown ups!

SB - 'this is a fantastic LONG TERM hold'

The devils advocate might argue if thats the case why does ARS have only a few mostly small II's - like Manini's Feeder Fund? JPM who heavily supported a large placing at circa 11p, and had an average price of circa 7.2p might disagree!

If as I suspect this 'deal' with the alleged fraudsters at AE/Sugih collapses, would review the risk/reward again....since the market usually overshoots on the downside on failure of a binary type decision.

The performance of the s/p since the deal was signed, should have seen a modest rise in valuation rather than a stampede for the exit door and circa 50% fall...........suggesting the smart money has considerable doubts - they hate uncertainty.

ARS has historically struggled attracting II support - why should that be? And why did its sole major II JP Morgan exit at a 72% loss, rather than wait for the company to monetise the assets?

As a consequence, with so many PI's holding and trading ARS equity, volatility is a given.

With regard to monetising Beutong .........its worth doing some research on the local/regional communities/politicians fight over the last 2-3 years with National politicians and various vested interests. They physically ran ARS's local management and workforce out the area forcing the company to completely shut down its on-site office/operations at Beutong........effectively forcing the company to mothball the asset for circa three years.

The management's stated response to this development was less than convincing....and is probably why the market continues to give Beutong little value.

AIMHO/DYOR

Interesting comments from industry professional 'Bernard Shaw' who knows Manini, on the CEO.CA Board:

'8 Jan 2021, 13:28
@Pete 'if they can't pay 2.5Mil, what the hell are they trying to do here? Puzzling, always thought the deal was too sweet so I didn't buy it, but this is BS nonetheless.

18 Jan 2021, 13:33
@bernardshaw The problem can be summed up in one word, viz "Indonesia".

19 Jan 2021, 01:38
@bernardshaw @Pete. Nine times out of ten when a tenant can't pay their rent but doesn't approach the Landlord with a genuine reason, before defaulting, the tenant turns out to be an ********/crook. I can't know the full story here but it smells like nice guy Tony, the friendly Landlord, took in an ******** tenant.

19 Jan 2021, 11:09
@Pete I thought nice guy Tony had plenty of time to do his DD

19 Jan 2021, 11:13
@bernardshaw Tony wouldn't do any DD but he sure as hell has to sign off on it. Resignation from him shortly is my guess. This is shaping up to be bad judgement number three, viz,
1} failing to sell to Anglo many years ago,
2) laughing with Bird about how many people wanted in 3 years ago but breaking the first rule of a Junior (get finance when people are queueing up with offers to you)
3) this screw-up.'

Owls - my large £7figure investment portfolio virtually runs itself as its mainly in sectors I have 40 years professional experience running International Shipping Companies and Ports, and the tied at the hip O&G, LNG and Industrial metals sectors, since at some time 90% of commodities and finished goods see the inside of ships cargo holds/tanks and Port Terminal storage.

Gives me plenty of time to indulge myself having a look at companies like MPL and ARS to name a few - to see if my gut instinct is correct, as to what is likely going on.
At MPL - suggested to the two largest II's why they should under no circumstances support a £37m placing at a 96% discount to the IPO s/p price , after explaining to them how the management were running a massive scam ......yet, cluelessly, they still went ahead and supported the placing - the result? They're now 97% down on that to!
Many foolish PI's also attempted to catch the MPL falling knife ..........only to find to their horror the shysters managing the company had welded it to a 2 tonne anvil! Market cap is now £6m .......while the 'management' claim the carrying value of the company's only asset is £170m!
AIMHO/DYOR

Sue.......'misconstrues facts as opinions.'? Lol!
Clearly English is not your first language !
An opinion is a view or judgement formed about something, not necessarily based on fact, knowledge or research!
Much like 99% of your posts when you're not resorting to personal insults.
You might be taken a little more seriously if you didn't try to play to the gallery with inane, childish insults and actually made an attempt to make the counter argument and prove me wrong !
I post mostly easily researchable facts for those that can be ARSed to do the leg work!
Sue....If 'peasants' can be bothered , surely that should be no trouble for a rude, condescending person like you , with a nauseating, self confessed superiority complex.
Research .......You should try it sometime .......it'll do you and your investment returns the world of good !
AIMHO/DYOR

Ps: for transparency, should have declared an interest ....... have a large shareholding in Jadestone Energy....so am very familiar with the deal the Jadestone management did last summer to acquire the Lemang PSC.
The reason Sugih and the other Lemang PSC shareholders had not developed the asset's O&G reserves into production was because they did not have, or the means to raise, following the oil price collapse, the circa $90m of funds required to fund the capex.

Investigation of Sugih's portfolio of 'assets' pre suspension, suggests the largest and most valuable of the $466m of NON CURRENT ASSETS appears to be a minority holding in the Lemang PSC, bought last year by Jadestone Energy in a highly distressed sale for $12m for which AE/Sugih was due around $3.7m for their 34% shareholding of the PSC.

AIMHO/DYOR

Sugih Energy's accounts in the year prior to the suspension of the company for failing to submit 2018/19 accounts make very interesting reading:

hTTps://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/From_EREP/201804/dc8c01df70_346017ea22.pdf

All US$
$0.32m - Revenue
$0.51m - Operating Loss
$9.01m - Finance Cost
$9.06m - Loss for the Year

$1.1m - Annual Cash flow
$0.57m - Cash in Bank at Year End

A management claimed $473m of Total Assets (of which $466m are Non Current Assets!)

Company was suspended from the Indonesian Stock Exchange barely a year later and shortly after managed to get the Sri Lankan Cabinet to approve a $20bn investment from Sugih Energy subject to regulatory approvals, AND had a name change to Aeturnum Energy !

These guys could give the management at MPL a run for their money!

AIMHO/DYOR

It appears the Sri Lankan Government's DD is not much better than Manini's, as the scam artists at Sugih Energy, shortly after the SUSPENSION of the company from the Indonesian Stock Exchange for failing to submit annual accounts and pay fines levied by the regulator, managed to get the Sri Lankan Government/Full Cabinet to approve a proposed $20bn investment proposal from Sugih Energy to build a new oil refinery in the country!

lol! As the late great Frank Carson would have said: "Its the way I tell them!"

Sri Lanka Approves $20bn INVESTMENT from Singapore firm for second refinery project! - Ship & Bunker - Asia Pacific News / October 2019

hTTps://shipandbunker.com/news/apac/686405-sri-lanka-approves-20b-investment-from-singapore-firm-for-second-refinery-project

AIMHO/DYOR