The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Have listened to two Investor Webinars attended by NVS, and on both occasions, within about 30 minutes, he has let it be known that he needs to leave shortly as he has other appointments. Clearly he is a busy man, too busy to allocate more than an hour or so to address shareholders questions/concerns.
Serious question, does anybody know whether or not, by settling creditors accounts via the issue of new equity, details of the beneficiaries, and their claim for goods/services, do not/will not be entered into the balance sheet/accounts?
With respect, did you fail to see the announcement in the 10th November RNS regarding the issue of 5,593,099 new shares as consideration to "certain creditors", the identity of which appears to be a secret, why, is anybody's guess.
Of course, ARCM have just received 67% of the US $3.5 million paid to Unico by Anglo in respect of the JV agreement, but that payment alone is insufficient to cover even the outstanding monies owed to PDMR'S who surrendered share options.
As for Botswana, as I understand it, all operations, including assays, were put on hold in order to conserve funds, so unless a new revenue source comes on stream, how are the assays, or the drilling, going to be funded?
I assume that the need to "conserve funds" was not prevelant when ARCM decided to prioritise the interests of the PDMR'S by paying down the debt owed to them, and then turning the lights off for the Botswana operation, thus placing the company, and all its shareholders in limbo.
Since when did the $88.5 million confirmed in the JV agreement, morph into circa $100 million........ How's about sticking to the acknowledged and confirmed FACTS.
That's not actually correct, the PDMR'S who surrendered share options, have made a nice profit, without investing a penny of their own money to do so.
But according to Steve, Anglo can mark their own homework, albeit under different circumstances.
I'm guessing that the reason why the assay work is being conducted independently, is lack of trust within the partnership.
Why make any payments to the JV, when, if they are convinced they will hit the jackpot here, they could have used that money to purchase a stake in ARCM instead, and still funded the drilling program under different terms.
Anybody else remember the delays, and long silence whilst the Casa deal dragged itself over the finishing line, followed y the Euphoria, back slapping, and the who's laughing now rampers as the price of Tingo shares rose?
Perhaps there's a lesson to be learned there.
The 'deal' was done in April, (signed off), and it's taken 6 months for the ink to dry. Despite confirmation that things are moving forward, with the bonus that drilling has been started, the share price has closed lower than it did following the initial confirmation of the deal in April.
Next week will doubtless bring confirmation as to exactly how much of Anglo's initial payment, will land in Arcm's bank account, and how much of that will be available to fund further projects.
We might also learn how much Arc have paid for the services of Rothschild's, who have done such an excellent job here.
I wonder whether or not the board feel they have done such a good job, negotiated such a good deal, that they feel justified in rewarding themselves with a 'bonus,' either in cash, or via new share options?
Wow, and it's the so called 'trolls' who are supposed to be desperately clutching at straws, 25 years, ? Next they will be saying that the moon IS made of cheese.
Yeah, yeah, yeah, but WHERE is confirmation of anything ARCM have done?
When you are as old as I am, you will find that all the goodwill and, more importantly all the foreign aid poured into Countries like Zambia, will ultimately count for nothing.
I note that debt forgiveness played a part in the latest agreements to make further funds available, so creditors take a haircut in order to allow the show to stay on the road, and start the process all over again.
Yeah, yeah, yeah, but WHERE is confirmation of anything ARCM have done?
When you are as old as I am, you will find that all the goodwilla d more importantly
Disssapointed........
I had hoped that yesterday's spike in the share price, would prove to be the result of a leaked RNS, to be released today, apparently not. Perhaps it was just euphoria over the suggestion, that the licences are now only awaiting the cleaner's signature.
Congratulations, I think this is your most intelligent post to date.
Your obviously a BULLfinch.
Jarv: True, but the payment IS due in the first half of next year, BEFORE the company is due to receive any follow up payments from the JV. Rolling over the payment, or issuing shares instead of paying cash, does not reduce the debt.
Fulmar: Have you found that 'pro bono' announcement yet?
£1.8 or £1.92m, I believe BOTH amounts fall short of the money owed to the PDMR's who were fortunate enough to be rewarded for surrendering share options, the balance of which is payable prior to any future payments due to ARCM subsequent to the initial JV payment falls due, and of course, as DG has pointed out, there are the ongoing costs to pay in-between times.
In addition, and despite claims by some on this board, Rothschild's, who have been acting for ARCM throughout, apparently without payment to date, are NOT working for free, and will no doubt be seeking some form of 'performance based' fee.
So where are BRH in respect of the COVID test kits, money invested, but did we ever produce a finished, licensed product, that could be mass produced and on the shelf within days, or weeks,or months?