The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Potatohead If you believe the share will return to around 1-2p as I do then it would be pointless to hold and watch sp 5.3p drop 80%. My �18,000 would be worth �3600 should I take that route and it happen... tadska are the following FACTS not enough for you to call "something" * 2 Death Spiral Financers(2nd just about to start destroying the SP), * 9 years and no road/power plans(let alone an actual physical actual Road/Plant itself) * 9 years and no JV-T/O * Regular months of silence from the BOD * Regular Missed Deadlines and change of plans. * 9 years and the BOD still havn't provided an actual direction in the company... * 9 years and the Far East Fund havn't provided 1p of funding for the required road * 9 Years and none of the BOD have committed to buying any shares themselves(in all fairness why would they being conscious of planning death spiral financing deals) Does anybody know the yearly salaries of Brian Savage, Rob Schafer, and Paul Gazzard.
What Brilliant posts SchachMeister123... Hope you stick around... I think I may have to take ladytrades path and sellout here too... So in that case hopefully I see your enlightening posts on some other shares... Agree that there is no way the shareprice can absorb 6million shares a month and remain stable, the SP's going to be a write off... Unbelievable that RY has thrown us into another death spiral financing deal... What happens if we use this $10m and don't manage to find a JV and fail the free road funding? Seek another D.S deal? Eternal dilution comes to mind, meanwhile RY gives a big middle finger to shareholders and redeems his �330k a year salary, as does Brian Savage and the rest of the BOD. I guess their salaries combined must be some 1/10th of these dodgy financing deals...
Sorry to hear about your losses ladytrade... I am also running at a 2 year loss here. There are companies out there with a much better BOD than the parasites @ AMUR, and, rather than clinging to this share which will only bare fruits through luck when everybody is an old age pensioner, its probably a better idea to recover your losses elsewhere... SXX comes to mind... but there are plenty others. Good luck with whatever you do. I couldn't help but notice in the most latest video interview, RY was lounging around in some old ragged polo top infront of a picture of what looks like roads leading to another companies mine. AMC is a �330k-a-year lifestyle company for RY. Surely that salary must make RY the highest paid director on AIM?
Agree with you Limited on the possibility of "too much faith has been put in one man" Just because Algy had a few other ventures doesn't mean all the O&A companies are going to 100% be fighting for this prospect. I recall him saying in the telegraph re underground coal gasification that if the amount of people who rally against the industry was present all those years ago, the north sea probably wouldn't even exist - so it shows you that hes not the almighty power some people assume. I still hold here & hope this share does well, but as we missed our last time window, I wont be topping up again until we are nearer to Mid April...
jeffry, the drop from 3p(and rise) was nothing important. Like wordog said, this is all a gamble based upon a farm in partner found. A personal concern of mine is that Algy Cluff was enthusiastically handling the farm in negotiations, but after months stepped down and delegated it to another company. Looks to me that it didn't go according to his plan. The finance guy who took his position could be there to handle the future placing like you suggested.
A cash cow for the BOD...
cashking, if you think those Prox salaries are bad, take a look at company AMC - Amur minerals. The CEO is on �320k per year, often takes �30k yearly bonuses, and regularly misses/withdrawns any deadlines given. 10 years on and all the company has done is drill to prove up more resources. �320k x 10 = �3.2million in salary, and the shareholders wonder why a takeout have not occured there. Takeover = bosses lose salary.
Interesting action, check out the order book, big buys occuring out of nowhere 09:27am $21.8k @ 4.90p 11:48am $10.0k @ 4.99p 11:48am $10.0k @ 4.99p 12:08pm $49.0k @ 4.90p + a few $5k buys... $105k+ buys $0 sells.
That's a good idea cashking, or atleast take 50% of salary in shares. Arn't some of the BOD on �120k a year salary? Those salaries will have to come from share placings/fund raisings if the company has no revenue to cover it...
UCG - Underground Coal Gasification - was Banned and still is. So that's one extension that turned out to be completely pointless. That leaves us with one more extension open... If that doesn't bear any fruit(farm in) I would hate to think what the SP would be... The company would be almost worthless...
Where did you find that shareholding info Graham?
The SP will be back down to 1.6 within the next 2 weeks. Last year Algy emphasized in every RNS his role in selecting the best Farm in Partner. He has stepped down & no longer mentions the farm in, and since Jan 2018 Envoi has been delegated this role. Envoi lists on their website Active Projects and Completed projects - to which CLNR is still listed as Active - this implies we do not have a farm in partner yet. It looks to me like Algy had enough of the farm in talks and let somebody else "get on with it". I hope we do manage to find a partner before Q2...