Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
If the bigger investors didn't want him as CEO then IMHO he got what he deserved for courting them in the manner that he did. We all know DB shafted us and LR always seemed to be playing a cagey game and keeping favour with them over the pi55 ant retail investors as demonstrated several times and in several ways.
An operations management role would have suited him down to the ground if that's what was offered but you need an absence of ego to accept what is obviously a demotion albeit to a role that you're perhaps better suited. From what I heard and saw, LR although a gentleman in the old fashioned sense did have an ego. To carry on with the same strategy of not managing shareprice for 5 years and believing that the strategy of just getting the fieldwork done would take care of the shareprice all by itself is egotistical not to mention, madness ie. keep doing what you've always done expect different results.
We're getting on for 3 months now since the idea of a value adding acquisition was first mentioned in an RNS. The CEO has walked and we've heard nothing about the acquisition. What I said at the time was that any proper due diligence would take months to play out and with the amount we raised and the working capital requirements it always seemed like an idiotic idea to me. I hope I'm wrong and they surprise us with a wonderful acquisition that is already producing (God help us if it needs loads of work). The more likely scenario is that we just get shafted again, maybe 'merged' or bought out for peanuts. In that event how could anyone ever defend LR again?
So you're rejecting the idea of earlier revenue through Hydrogen or Crypro Whizzer?
Everything about the chart is pointing to a higher shareprice ;)
"If everyone filtered him he might just leave us in peace (as he has onADVFN)."
Brad you've posted a hell of a lot of rubbish and nonsense over the years but I found this comment particularly laughable and absurd.
You must have claimed to have filtered Moagi what must be in the hundreds of times. It's almost a daily occurrence that you'll post that you've filtered Moagi and then later the same day you'll be responding to another of his posts, often with the same lame excuse that your browser didn't quite manage to filter him. This is patently ridiculous and self delusional.
If I filter someone on here they're filtered. No special browser needed, no extra coding, no excuses just a simple button press. The truth whether you can admit it or not, is that you're obsessed with Moagi, just as obsessed as he is with your irrelevant postings.
As I said some years back you're two sides of the same coin. Both equally obsessed, both equally as egotistical, both equally convinced that everything you post is the ultimate truth and neither of you will ever be convinced that things may not quite be the way you see them.
As an outsider watching this I find it both absolutely infuriating and fascinating at the same time. Infuriating because everyone else has to read yards of irrelevant bo110x or filter the pair of you and fascinating that two individuals can be so self obsessed, oblivious to how they come across and blinded to their own true nature.
Truly remarkable to have not one but a pair of such individuals posting on the same board with diametrically opposed views. Remarkable.
Almost as remarkable as TLOU having apparently everything they need to start work but not quite starting work lol.
Highside, no not the strategic review, I agree that should go ahead I'm just talking about buying another asset, that idea in my opinion should be ditched.
Yes I agree Shed that it probably wasn't amicable. It's the 'best news' from my perspective because I don't agree with buying another asset, I didn't like LR's management style and I couldn't see a viable way forward with him at the helm. Whether anyone else can come in now and rescue this company remains to be seen. I do wonder why the likes of bennelong and dB voted to keep him at the agm if their strategies were not aligned with him. If they're now looking for a quick sale for Toral before PFS then I doubt I will get my original investment back. Ce la vie.
Best news I've seen in a good while. Good project manager awful CEO.
No Colin Bird won't be coming back. He left Junilee because Bezant now have a JV with Jubilee and Caerus Minerals so it would have been a conflict of interest. Coming now wants to focus on Bezant and his other interests.
I believe LR left suddenly and of his own accord. I think the realisation dawned upon him that his overall strategy here had largely failed.
Hopefully whoever comes in ditches the madness of buying another asset and instead focuses on Toral and finishing our PFS.
My first instincts about LR after I saw his first presentation 5 years ago were right. I listened to that presentation and actually felt underwhelmed after being initially excited for my new investment, not a good sign! Then came the immortal line you never want to hear from a CEO "I don't care about the shareprice".
Then after many years of management gaffs of one sort or another we had that totally baffling idea of buying another asset but with no idea what, where or when. Madness and frankly desperate.
He won't be missed by me but I wish him well with whatever comes next. I invested my money without checking out the CEO properly so I have to accept ultimate responsibility. Lesson learned.
Well Brad ya maths is out to start with, you're '99.999% certain' but there's a '1% chance' you're wrong. By my reckoning that comes to 100.999% ;)
Regardless of math I think we should have had some sort of update for this new year. We finally after many years got the PPA and the funding so it's obvious (to me at least) that all the investors that have been patiently waiting for those items for years would then be very eager to get cracking! To see either work commencing immediately on the poles and wires or informed if the companies priorities have changed.
Your idea Brad it seems is that they are temporarily holding back on starting the transmission line because the money may be needed for the SM project. Have I read you right?
If that is the case then we as shareholders should be told as much in an rns, not left guessing. If this is what is happening it mirrors when they raised the money for poles and wires from shareholders and then didn't spend it on that but yet deemed that shareholders didn't need to be told we should just work it out for ourselves as time passed.
Not great management communication in my humble opinion! In fact it feels a little contemptuous to be honest. Twice now raising funds and not getting started on the project that the funds are meant to be for. It instills a level of distrust and suspicion that we're never quite getting the full picture from the management. There are other examples of this too but I'm sure you all know them by now.
Gilby may well be making the correct decisions at the helm BUT this is a public listed company and as such they have a responsibility to be open and transparent with their shareholders (the collective owners of the company) and I don't feel we're getting that and maybe never have. I don't want to be left guessing or worse still have Brad coming up with a million and one theories and ideas as his imagination runs away with him.
I want a simple, open honest plan in an rns is that too much to ask for?
what time do they start talking about BZT Mr. T?
"When I read the explanation that someone's so far down that they may as well just leave the remnants in I know they must have some expectation that the enterprise can still deliver, why? "
Shed, to have the certainty of losing 96% of my original investment if I sell now or the hope of getting possibly 100% (or better) of my investment back should this miraculously come good. It seems a no-brainer to me for the following two reasons.
1) We have the asset that is not disputed and the asset is likely to only go up in value over time as resource prices rise ( demand for green resources and materials) and resources become rarer (grades become lower, cost to extract becomes higher, demand goes up).
2) Markets are irrational and market participants often act irrationally with company valuations becoming both ridiculously cheap and ridiculously overpriced at each extreme of the spectrum.
It is for these reasons I stay invested and these reasons alone.
Contrast that though moneymakers to what we got from EUZ. Toral isn't funded for the full PFS and even though we haven't raised a large amount of money via this disastrous raise we're changing course and looking to acquire another asset but we we don't know where, when or what resource.
I'm currently down 92.08%, I did advise against averaging down here as it only takes one disaster to blow all or a very large chunk of your account but I do feel for those that adopted that strategy here and have now had to sell at a considerable loss.
I don't have a great deal of hope for EUZ and my nature is naturally optimistic! Indeed in my head I've almost written this whole investment off tbh.
There are a couple of scenarios where all would not be lost so there is a glimmer of hope which is why I haven't cashed my chips in. I'd rather back the 100/1 outsider than cash in what would probably amount to about 6% of my original investment after the spread is taken into account.
CHRI5P I was shocked to read that you believed Toral was intended to be an open pit mine. You was very vocal when you arrived here about the opportunity and slammed a few of us that had legitimate long standing issues or grievances with the company. From memory I believe you also, like me and several others invested a decent lump sum so to hear now that you didn't know it was a below ground operation is very surprising. Your research should have flagged that up immediately as the costs between open pit and block cave mining are vastly different and definitely something that should be factored into one's calculations when doing proper due diligence.
Anyway Happy New Year to all here, let's hope that LR pulls off something miraculous and and this frog turns into a Prince. I'm focusing 95% of my efforts on my forex trading this year so my AIM investments will be very much a passive sideline. In other words I won't be posting regularly unless something exciting happens!
Wasn't the second mention of a value event after we found out that the deal had fallen through? Pretty sure it was.
Mojolse, I get where you're coming from and generally I try not to feed the trolls but misinformation has to be challenged or over time it can become 'accepted wisdom'.
I've encountered many posters over the years that say one person or a couple of posters can't influence a shareprice. I completely disagree.
One example I can give came from a share I was in many years ago. A poster purported to have gone to an event and spoke to one of the management team. He was incredibly convincing, and posted for months on end with incredible detail about a supposed event that would catapult the shareprice.
Many respected posters were taken in by this guy. Each and every time the expected event didn't materialise he always had a plausible reason. Eventually time ran out, the event didn't materialise and the poster disappeared.
Incredibly months later he came back with some limp excuse and even more incredibly some people still forgave him and believed he was just a victim too of false information from the management. Such was the belief he had installed on the bb they just couldn't bare to believe they had been lied to and fooled.
During this time, the shareprice kept going up, new investors were suckered in and everyone waited for the big pay day because it had become accepted wisdom and no one had challenged this guy. Even to this day some 15 years later I can remember his username!
Needless to say the shareprice just continued to drift down after the non event until they were bought out and taken private, which fortunately for me saved my bacon but many sold up early and lost small fortunes.
Seeing the impact that one smart and dedicated poster can have it's no surprise that teams of posters infest certain shares and obviously coordinate their efforts. Huge sums can be made with very little risk.
The likes of Quack-a-day and smiller I don't put into that bracket, their arguments appear amateurish and just plain biased. They appear to have a very obvious axe to grind with anything CB related but still when they occasionally do drop a 'fact' it is, I believe, worth correcting it if it is a blatant lie or misinformed opinion. Otherwise this 'fact' can get repeated and become accepted wisdom, to all genuine holders detriment. It can also put off the new casual investor dropping in to the forum.
Thanks Highside well if that is the case then it does indeed make a mockery of the current system. A system that appears to mimic many others in society in keeping those in power, in power and neglecting / ignoring / sidelining, those not in power. Perhaps a conversation for another day. Thanks.
Bahriaheights, Quack-a-day has a set agenda here so common sense arguments like that will fall on deaf ears.
If it isn't anti CB he's not interested.
Those with a more reasonable outlook would see the substantial skin in the game by CB, the newly announced JV, the huge collective assets across all sites and the likelihood of the Tier 1 Mankayan licence renewal and think that this company has a heck of a lot going for it.
Quack will ignore all of that and spout his usual diatribe.
Me too grappa. What I'd like to know is, is this rule of counting abstentions as effectively yes votes the same for all listed companies? Or is this a rule peculiar to EUZ?
If anyone knows for sure please post.
Haha some funny posts here! Think a few need to do a bit more research...
It sounds like you'll lose 'best offer' completely if you subscribe for L2 regardless of whether you actually use DMA to trade but worth checking with them I guess. Remember though that the idea of L2 is to get the best price in the first place. In effect you're creating your own market where you can place buy orders below the current best bids and sell orders above the best offers. So if you're diligent enough you should be able to always get your own 'best price' possibly better than that which IG could have got you, after all they probably keep a little bit of the spread for themselves.
Is it worth it for just a few trades per month, probably not but I don't know what size you're trading so you'd have to work that out as you go. L2 is really for day traders because of the frequency of their trading. If you can trade everyday inside the spread plus work out when a stock is about to make a move and in which direction it is obviously a very useful tool. My guess is (given the size of trades you've talked about in the past) that it's probably not worthwhile for you but then you do love your asx price action so maybe there's an entertainment value to be considered as well? Might be worth asking IG for a free trial? No harm in asking.
Donkey you sound like you're almost wetting yourself mate, unfortunately it was you that wasn't listening. CC did mention solar several times and the Hydrogen unit is still on track to be delivered H1 '22, tested on site with first revenue in '23. At the same time we'll be getting on with the transmission line, which also is anticipated to take a year. So come '23 we could have up to 4 sources of revenue coming onstream. Gas to power, Hydrogen, Solar, Carbon.
You can talk it down as much as ya like but those are the facts.
Also gloating over a falling shareprice (amidst a general market sellof I might add) of a share you purport to own makes you look like a ****** of the highest order, and no just in case you can't work that out it's not a compliment.
Yeah that sounds like the team were surprised that the assay results did not more closely resemble the xrf figures. They know from historical and geo phys what is likely there, why we didn't get that confirmation is obviously what they're looking into.
Not as some would have us believe that the xrf results were some fraudulent attempt to jack the shareprice. I'm sure once they figure out the correct place to drill the initial xrf, previous drilling and geo phys results will be fully vindicated.
Ok let's see if something ut I won't be holding my breath. Every week and month that an acquisition isn't announced is another week or month we've burnt through working cash flow... let's see how this pans out.