Member Info for myfirstmillion

Good spot Everycloud. Well they went over the one year timeframe but only just! Reading that fact a while back did give me some confidence unlike a few others on here.

I expect this to rise tomorrow. Still think we won't be mining this year Mr. T?

Mr. T, I never gave a date for the licence, I said most licences are granted within one year, someone else gave the date we submitted the licence. I never gave a level of certaintly either. If that date was correct then we're now outside the normal distribution wrt timescales for granting of ECC licences. Does that bother me? No. Would I have preferred it to be sooner? Yes.

No one on here knows why it's taken this long but being also invested in TLOU (now TOU) I know only too well about the delays encountered in Africa especially when dealing with government departments. Even over here things can be and often are held up by government departments causing long delays. It's frustrating but it is what it is.

I'm sorry to say Mr. T that I used to respect your opinions on here but the increasingly negative stance you've taken over the last few months when arguably we're in a better position than we have been for some time, has changed my opinion. I think your voice has become increasingly isolated, even some of the established long term derampers have quietened down somewhat knowing that once this Ecc licence comes through we're off to the races against a backdrop of historically high Copper and Gold prices with a tenement that runs some 15 kilometeres. I just don't see what good it does to keep bemoaning the company. If we want to attract new investors and get some enthusiasm going constantly knocking the company isn't going to help. CB may often be overly optimistic but if we're waiting on the government for this licence we'll that isn't CB's fault is it.

Wrt to your last post about the orange oaf well there I suspect you're in even more of a minority. The guy is a narcissistic idiot plain and simple. Three months in office and he's completely disrupted the world order and threatens 80 years of peace in my view not to mention turning the US into a laughing stock around the world. Threatening it's neighbours and allies, threatening tariffs pretty much worldwide, making up policy depending on what side of the bed he got out of and then reversing it a day later. Conducting highly sensitive defence operations on an unencrypted non governmental app whilst childishly denying any knowledge of the whole thing. Setting up a foreign sovereign leader to try and embarrass him on a world stage. Siding with a communist autocratic states and despot leaders over democratically elected peaceful 'friendly' nations. Riding roughshod over America's own courts and legal system. Talk of taking over Greenland a part of the Danish kingdom, talk of making Canada a 51st state by annexation. I could go on forever with the mess and utter chaos this maniac is creating and all in just three short months. Democracy is in real trouble if this clown continues in this manner and so is law and order. I can easily see an American civil war or another world war breaking out because of this lunatic! How anyone with an ounce of common sense can support this chaos created by a narcissistic egomaniac with the temperament of a petulant child is beyond me.

30 year gilts pay c. 5%

Was an interesting interview. The fx conversion losses explain why Egypt went wrong with the devaluation of the Egyptian pound. Holds his hands up and says some wrong decisions were made too. Two major players have been ready to sign a deal for Jamaica over the last 18 months but corporate change of strategy scuppered both deals at the 11th hour so the notion that no one is interested in Jamaica and 7 Billion barrels of oil is just rubbish peddled by those desperate to see BL fail. Companies from before Christmas now back in the data room and with Trumps change of political direction wrt oil new companies are now also looking (he says this has to be proved to the NOMAD) so it's not just 'blarney'. Final point that the extension for the licence means companies now have over two and a half years to make a decision but more importantly the expenditure for the piston core survey can be paid for over a longer period making it more attractive still. The licence extension also puts paid to the faulty reasoning that another company can just pick up the licence when it expires, the Jamaican government clearly like and want to deal with UOG or they wouldn't have granted another (early) two year extension. As for another company buying us out, I wouldn't completely rule it out but I think with the cash we have and the licence extension I think BL is here to get a deal done. There's been interest previously but corporate strategies have scuppered at the last minute but with Trump now in I can only see more American interest, which I think BL is hinting at when he says it's on America's doorstep. I can see a deal being done and personally I'm more confident now than I have been for some time. Yes of course it's risky we don't need these bb keyboard warrior gurus to tell us that again but the rewards should it pay off are enormous. I'm happy with the reward / risk ratio here.

March 26th was a year wasn't it waiting for the ECC? I read that most are granted within one year so we'll know within the next two weeks either way...

Ii did it at no cost to their customers which is how it should be done and you should never have lost isa status, IG have ballsed up somewhere either knowingly so as not to lose clients or unknowingly through sheer ineptitude. It's as black and white as that.

Well if that's right then IG have just been completely negligent and I'd be looking for compensation.

The fact is that ii allows you to hold International shares in the same account so they can remain inside the isa wrapper and just moved to the ASX exchange. With your IG accounts they didn't allow international trading in your UK isa accounts so they've had to sell them and buy them back into an Australian IG account but once shares are sold and moved out of the isa (as in repurchasing in an Aussie account) then they lose their isa tax status and this can't be reversed or they'd be breaking UK tax laws. What IG should have done was be upfront and told you that to keep them with IG would result in you losing their tax free status, they should have advised you to transfer them within the isa to another isa provider that offered isas AND has International exchanges in the uk account such as ii. I think now you've probably lost that tax advantage for this tax year and that can't be reversed. IG can't break the law and there's nothing TOU can do about it. What I would do personally is put in a formal complaint to the ombudsman over how IG have behaved in not being upfront about what would happen to your isa status so as not to lose you guys as clients. I would then leave IG and transfer my shares to another provider. This is all imho and understanding based upon what I've heard and what i understand, I could be wrong so always take expert financial / legal advice from a professional. I do think TOU share some of the blame here as I've said previously, the initial questionable decision to leave the London exchange, the relatively short notice period and especially closing the AIM listing around the busy Christmas and New Year period.

According to what I could dig up the ECC is usually granted within 1 year, so you could be onto something Willy. Fingers crossed.

"Jason, that is exactly the last update that was received from Fodere. Nothing else has been advised, we don’t know their progress, we don’t know how near they now are to their objectives, if the objectives have changed or if anything else has changed."

This doesn't make any sense. First off I understand that until Fodere make an announcement we can't officially report on anything I understand that. However we do have a JAN non executive director that is a director of Fodere. The notion that JAN have no idea what is going on is false. Of course they know exactly what is going on with a director sitting on both companies. Bryan and the whole board must know of shareholders frustrations around shareprice performance and lack of news around Fodere progress. They even mention slower than expected progress for Fodere. They could update us if they wanted to it would only need a nudge from Bryan to N V S and I'm sure they could agree some kind of update or joint statement. The fact of the matter is that Fodere haven't progressed as they and we had hoped. There is no plant (supposed to be built and commissioned in 2024), the questions I want answered are first of all why hasn't it been built? Has the funding been withdrawn? Is the technology not scaling as anticipated? Is there a regulatory hurdle around been the plant? There must be a reason and we're not being informed. I know this is down to Fodere before you repeat yourself but we can exert pressure to get a formal statement out. We own over 7%, share a director and have full South American rights to the tech so must have considerable influence. This tech is vital for our main asset Pitombieras so JAN have an obligation to apply pressure to keep us informed. How long are JAN prepared to wait for this plant to be built and commissioned? Another year? Two? Three? We collectively as shareholders own part stakes in JAN and FODERE each of our shares are worth exactly the same as any directors individual shares. We are entitled to know exactly what is going on, that is the nature of a public listed company. I feel certain obviously N V S knows why the plant is delayed and it would be incredulous if Brian didn't know so why are we not being told? If they haven't even started building then they're basically a year behind schedule. You don't go a year behind schedule and keep totally quiet about it unless there's some major or serious hurdle. I know you invested a lot of time into researching JAN and the FODERE tech David and that is always appreciated, I've never questioned your research or the tech but I am questioning why have FODERE not delivered what they earmarked, why has there been no explanation and why isn't Brian pressing for an update so JAN can keep us informed, this is a crucial and central technology that is supposed to enable Pitombieras to be vastly profitable, to be kept in the dark is unacceptable in my opinion.

In the rns dated 18th December 2023 Bryan Mcmaster said;

"I look forward to updating investors regularly on all our projects and acquisition strategy as we look to build long term value for shareholders."

We've heard nothing since that rns about Fodere, fact.

In the same rns we heard from John Omitogun;

"We are also pleased to announce that detailed engineering is underway for the pre-commercial plant. This facility will have a fully integrated semi-continuous design, capable of handling 7 tons per day of feedstock. Costing US$2.5 million, this pre-commercial-sized plant is on track to be commissioned and fully operational in 2024. It marks a pivotal milestone in our journey towards realising our objectives of achieving commercial viability and profitability."

As far as I can ascertain there is no commissioned fully operational plant as of today. If there had been any progress I would have expected to hear about it through Jangada via rns as we hold a 7.7% stake in Fodere and the building and commissioning of a plant would be considered to likely impact our shareprice so they would be obligated to inform the market. As we've heard nothing I can only infer that no plant has even been built yet and remember this was supposed to be a pre-commercial or interim stage plant not a large scale production plant. An African focused investment bank was supposed to be ready to commit US$ 70 million, is that still the case or have they pulled this funding? I know from my investment in TLOU (now TOU) how fraught any investment in Africa can be and how far timelines can slip (years).

I don't think it's unreasonable given those statements from the rns to ask what is going on. 2024 is behind us and we're 2 months through 2025 and still we've heard nothing about even starting the pre commercial plant in South Africa. If it has been started then let's hear about it as we could do with something to give the shareprice a boost. If however it hasn't been started then I fear we could be waiting many more years to see a return on our Pitombieras resource.

I've kept this post factual, without emotion and civil. If anyone can answer my valid questions and concerns then please do. If however you only have criticism because I dare to question the 'progress' and strategy then please don't bother.

What are you talking about? We have a second project! We have investments in both Fodere and Blencowe Resources. I don't want ANOTHER investment. Also I never said I didn't want to rely on Fodere but I have questioned the strategy here for some time and rightly so. No one knows what stage Fodere is at, do you? Coz if you do please enlighten us. Our management sure as hell won't. If they can't get a trial plant up and running or the technology doesn't end up fitting our needs or isn't scalable or any number of other reasons that could go wrong then what's the plan B? And how long do we wait for all this to play out? You've waffled on for years and throw your toys out the pram the moment I dare to question the startegy here or ask some awkward questions. I'm not happy with the shareprice and neither I suspect are most other retail investors and I have every right to voice my concerns without fear of offending your fragile sensibilities. Bryan and the rest of this mob are millionaires and as I've said before they can afford to wait and wait and wait. They have passive income from their millions and a nice wage top up from Jangada and all the other boards they sit on. It's our money that pays their wages and as far as I'm concerned they need to start earning their keep and get the shareprice heading North instead of South!

I don't want another acquisition I want a working mine! Relying on Fodere who no one seems to have a clue how their progress is going seems fraught to me. Do Fodere have a pilot plant up and running? If not why not and what stage are they at? What is their timeline? What is our timeline on how long we're prepared to wait on their 'game changing' technology? These are the questions I want answered.

They never have.

Bonneville if we talk about the upside we get accused of ramping so better you just read the independently commissioned Jamaican basin's reports on UOG's website.

"I told Myles the SP would crash if he didnt deliver, but he was adamant that the value of our Denarius holdong would inderpin thr value of EUZ."

Once again and just like with LR this shows a complete lack of awareness of how financial markets operate and react especially at this point in time where every investor on here knows that any bad news or even perception of bad news is being punished harshly. You've failed to get the deal done man and this after searching for so long for something anything to 'replace' Toral which you let go for tuppence. How could it not crash the price?! Highside is right we could literally put this company into a filing cabinet. What next Myles? You gonna spend another six months looking for another deal you can't get over the line? Any and all trust here is done from those invested and from any potential investors, finally everyone knows you and that clown LR have no utility to run a public company so please put us out of our misery, do the decent thing for once and dish out the Denarius shares and then maybe another company with real Directors can use us for a cheap listing.

LR was arrogant and foolish MC just cavalier neither should ever have been or should ever be running publicly listed companies, playing at mining like big boys with investors hard earned money when both appear utterly clueless at best and downright deceptive at worst. The problem with these privately educated twits is they've always had everything given to them so they begin to believe that they're special that they've somehow achieved something in life so why not run a company how hard can it be! When the reality is that both of these clowns don't have an ounce of entrepreneurial talent and couldn't run the proverbial pi55 up in a brewery. I can't wait until this is wound down but sadly I also know they both have fingers in other pies and will continue to underperform making more investors poor whilst they continue to draw hefty and completely undeserved salaries.

LR was arrogant and foolish MC just

chinch what you and the rest of the constant doom mongers seem to forget is that you have to be an adult to invest in stocks. no one needs babysitting here, everyone is fully aware this stock is very high risk versus very high reward. we don't need this constant ****e from people not invested to tell us how risky it is. we get it! i don't go on twitter daily or reddit to tell crypto investors how risky the latest meme coin is coz i understand and treat people like adults. they know the risks but they're obviously looking for that one that bucks the trend and does the 'impossible'. so please chinch and every other £ucking do-gooder get off the high horse and let people invest or trade how they see fit. if you have as much conviction as you all say then open a spread betting account and short this till it goes bust you'll make (or lose) a fortune just like some of us invested here.