Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Jul 11, 2015
Post by Admin on Jul 11, 2015 at 3:00pm
It's a new day.... and I'm feeling good!
Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend.
Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming!
A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air!
On first impressions Jon isn't far from being a model CEO.
He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances.
I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen!
He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have.
The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders.
On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo.
They both set out their very clear vision for the future,
- explaining that every barrel of oil sold so far in 2015 has been paid for
- that they continue to negotiate with the KRG regarding the outstanding money owed
- that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid)
- that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment
- that they intend to wrap up sales negotiations soon so that serious interest can eit
M&G were trading GKP early 2012. It's all in the register. Chicago Jack was pumping the $63 line. Were his relatives calling for £8? Did Asher sell enough to get a free ride? And they wanted rid of Todd. Well, that went well. LOFL
Surely you remember the Mr and Mrs Oilman routine. Send your form to Mrs O...blah blah
CJ and the $63 valuation... And Harry Caper set up GKPIF for a special purpose. Of no use to most users, apart from the 3 Humps darts matches.