Member Info for Pocko

And do you know why they aren't staking their houses on it? Because they know no more than we know.

If I knew what they want us to believe they know, I'd take my house on it, surely?

The board of directors and management team which seemingly consists of 5 people...

"Members of the Board of Directors, Executive and Senior Management (including the Company's Chairman and CEO), have declared their intentions to subscribe in the Capital Raise in aggregate of equivalent approximately SEK 1-2 million (approximately £75,000-150,000)."

They're not exactly going all in. Hardly instills confidence.

It's been continued project drift for some time.

I had the temerity to ask what the plan was following the issuance of the exploitation permit in March 2022. We had at that time, management that appeared to be caught in the headlights. I took no joy in asking what I thought was a reasonable question. And no plan was forthcoming for some time.

Subsequent cash calls to get Kallak 'over the line' have resulted in anything but.

I haven't the interest in watching Teddy regurgitate old news, particularly as it seems the environmental permitting process is already experiencing more drift, if your comment is anything to go by?

Again, when I called into question the ambition to be mining in 2026 (Remember mining in 2018?), I was roundly derided.

I personally won't be putting anymore money in. If the SP moves up, it's a winner. If it doesn't, I've not lost anything.

Name one thing that Budge achieved beyomd spanking cash on vanity projects we could ill-afford, and arranging his own pay rise?

CSP submitted the exploitation application...

Teddy is merely following suit.

And Which now permits Bowie to issue shares all the way down the the new ordinary share value of 0.001p.

That's the bit that should really worry you.

Hence it did not affect the value of your shareholding.

What then followed, namely the issue of new equity, permitted by the new resolution, subsequently diluted (or will when finalised) your holdings in the company.

It's the nominal value...

They were called ordinary 1p shares (Absolutely nothing to do with their actual market value). But in order to issue shares under the nominal value (Necessitated due to the actual market value) the company made a resolution allowing them to do so. The share split facilitates this. It's a legal thing...

The chairman and BOD are there to ensure good governance. It's been anything but.

What did our chairman do? Announce a 6-month review that achieved absolutely nothing, except served to kill time and drive down the SP.

I note Teddy is partaking in the fundraise... He has nothing to lose.

And don't underestimate their motivation and greed... Salaries need paying.

Of course we can doublingup... It's called a share consolidation. 10/1, 15/1, 20/1.... Take your pick. Achieves a healthy SP, on paper at least, and makes it easy to raise further capital.

They can raise funds in perpetuity.

Don't look at things through your own lense.

And yet evidently you do follow BEM.

And in any event, whilst it's great that he will be in post, the wheels are already in motion in respect of the environmental work, which will surely dictate the design of the mine, and therefore work which cannot yet be planned?

Makes you wonder what Teddy does on a daily basis?

Historically, there has always been a few RNS issued around capital raises, presumably to give the impression of progress.

And his appointment is progress of sorts.

So we've established that you care... Really care. Thanks for that.

And shortcomings? Presumably not your own though. Slightly narcissistic don't you think?

Congratulations... Post of the day.

Posters are well aware of the failings... Well documented.

And you make too many assumptions. But if it makes you feel better about yourself. All the power to you.

Are we ourselves not prejudging the outcome, through ongoing works including a cash call? But I see your point.

However this gets squared off, I just don't see a good outcome for PI.

Ownership of kallak won't affect the outcome of the court decision. My point was that the company could literally be bought for peanuts

And clearly, the BOD is failing to meet the measure that it has set itself against.

Teddy is aiming to raise £1.5m in the UK. It's not underwritten, and based on the failure to achieve the full amount in the UK last time I suspect we won't this time.

So based on the UK achieving circa 60/65% like the previous fundraise, that would, before costs achieve a figure of around £1m. That doesn't even cover salaries and admin costs (£2.8m in 2023 due to generous terms given to Budge, and £1.8m in 2022)

Admin, in a nutshell, is where the money goes. Not drilling, exploration or on consultants, but salaries, paper clips and the occasional frivolous investment on liabilities such as Vardar that we can ill-afford.

Where's Aug59 with his conspiratorial posts, and H2G or LKab to bail us out when we meed them?

The whole business could be bought by a mining conglomerate for what would be nothing more than an accounting error to them.

Teddy can now issue as many shares as he likes under 1p. That was the point of the EGM yesterday. 10 Billion shares in issue? No worries... Share consolidation will take care of that.

He can raise capital in perpetuity... The only ones that suffer are existing shareholders.

Teddy gets paid regardless. Teddy, as with Budge before him, have both actually been very successful, navigating the choppy waters of the lightly regulated AIM to feather their own nests.

And the point of this pearl of wisdom?

No better than the posters it's presumably aimed at.