Member Info for Offler

Based on mined so far extraction costs, with some sort of one off cost, appears to be roughly 50% of value in the ground

Ok so just throwing this out there. So the reserves quoted by Database were as at Feb 22, so imagine this, do you thing at the end of 2021 the bod were sat around the now fabled table in the staff canteen staring at the faded tablecloth when one of them said. “How’s this for a jolly wheeze why don’t we mine next year and see how much of a loss we can make”. Or do you think they mined for the 22 season hoping to make a profit and to show a potential buyer how profitable it could be.

So what went wrong to make a loss? Product not as rich as hoped or extraction difficulties not factored in? I really don’t know, but I’m sure as can be that the plan wasn’t to deliberately make a loss.

That to me is another red flag, some of the bod are invested so stands to reason they want to see a sell. Either they are being unrealistic in their ask or the remaining two? potential buyers (reduced from the 2020 numerous enquires) just don’t see it as viable based on present market commodity valuations.

2022 mined 3 mil gross excluding transportation, processing and profit factor to any buyer of the concentrate, our own costs were 7.2 mil including some one off costs. Doesn’t that indicate that for the mines to be viable, the commodity value would have to near double from 2022 valuations?

Add to that we are a company with no regular income stream as it stands we only have one off payments due from tax rebates and possible sell of concentrate, yet we have ongoing regular costs. At some point be it Q3 or beyond we will run out of money, surely that also puts pressure on the valuation.

Thank you Richard

Yes Sam I do think 42p is unrealistic for assets that have been on sale for almost 4 years, 19 months of that before Russia invaded Ukraine. I also take into account the comments from CS 1st July 2020 “numerous inbound enquiries” 2023, “low visibility” “potential Hong Kong based buyer and potential Russia based buyer remain hopeful for a sale by end of year” so what happened to those numerous inbound enquiries, did something put them off? (The invasion was 19 months after the comment from CS) I also take into account that even if some of the costs were one off expenses it still cost 7.2 mil to mine 3 mil of concentrate, and that 3 mil is a gross figure, what about transportation and processing costs and the required profit factor for any buyer of the concentrate?

I’m hopeful of a sale eventually. I would love 42p even more 89p but the SP doesn’t support that belief from potential investors, nor does the last four years.

Really Sharebel thanks for the lesson all those years of investing and I didn’t know the share price went up and down! That would explain how it was once 42p and now 1.55p so I’m really grateful to you for explaining. In the meantime completely wrong about the free app thing, but I do firmly believe that unrealistic claims about the eventual sale price actually puts potential investors off.

Sharebel at 8.12am Well good start to the week here with SP looking more buoyant and stronger 1.60.

Share price at 10.13am 3.23% down

Sharebel, I’m a realist. Not someone who has been around for a week or so, the reality is 4 years and no deal done. 7.2 million to mine 3 million. None is going to pay over 2 billion.

WAP TOOHOA

Sharebel the assets are worth whatever a buyer is willing to pay for them, and for the last four years that has been nothing.

WAP, TOUHA

Really Sharebel, thanks for the ramp but two things, we already have our own rampers and they are more interesting than you, and never trust or pay attention to someone who ends every post with imho.

Give it a rest Richard your fantasy future is based on a 70’s science fiction book, will you be embarrassed when it doesn’t happen or will you be brainwashed by the next conspiracy theory?

Says the person who believes a fantasy based on a si fi novel, it’s laughable.

The amusing thing is Makeabundle, Richard’s entire Global elite based in China originates from a 70’s science fiction novel which is regularly rehashed on conspiracy websites.

So that’s avoid the question then, as you always have every time I ask for your sources.

Richard educate us to where we should look

Makeabundle, you are so right in your observations in fact Mizman has already ignored the question as they always do.

Richard, a world of people and you find out about this conspiracy, really?

Richard, we should all be grateful to you risking your life travelling to China, identifying the globalist elites, breaking into their secret underground lair, and stealing the secret plans for world domination. Or was it just something you read on the internet?

Mizman when it comes to promises immediately broken 18th Feb 2022.

Russia accused of preparing to invade Ukraine. Vladimir Putin denies this, saying he is just carrying out planned military exercises. Russian military drills are "purely defensive" and "not a threat to any other country", Vladimir Putin has said.