Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have shares, bought by my own money, rather than the money other people entrusted to me. That is why I can be honest on here and not have to post fantasies to fool those whose money I am going to lose into believing their money is safe
Helpless, you have told us countless times how you personally liaise with Andrew Bell on a regular basis. We also know that while he is very quick to share good news, he is not as forthcoming with setbacks. Despite what you believe, he I not going to tell you about any problems either. However, I’d appreciate it if you make a point of asking after his children and if he tells you he is thinking of buying one of them a house, please do let us know.
...second of all, I really don’t think you should be the one accusing me of boring everyone on here. I’m not the one whose spent 2 years copying and pasting completely irrelevant links to news reports and twitter articles, which the forum users continuously mock you for.
Helpless, first of all, I didn’t invest 10 years ago, I invested after Daniel Sklan refinanced the company. There was a metals recovery at the time which AB totally f*** up. A couple of years later another uptick saw the JMS investment becoming worth something and a bunch of cash coming RRR’s way. It didn’t take long for AB to squander every penny of that and then go, hat in hand, back to the market for more money. Had the shareholders ousted bell when the JMS shares resisted we’d still have the Kenya asset as well a decent amount of cash and less shares than we have in issue now.
Just as the Manganese price brought us back from the brink a few years ago, gold has brought us back now. This is entirely thanks to COVID causing people to seek gold as a safe haven investment and, had the virus not struck, you’d be having to explain to your investors where all the money has gone.
In order to avoid a repeat of the JMS proceeds fiasco, Andrew Bell needs to go and you are welcome to sell your shares and join him in whatever great venture he finds next.
Seyton, take a look at the 10 year chart, then go to a gamblers anonymous meeting and see how many people have had 3 month lucky streaks versus how many have made a profit over 10 years. When looking at the 10 year chart remember the 25-1 consolidation. When a gambling addict has a lucky run all it does is raise his confidence to bet more the next time.
Helpful, have you ever read MacBeth? If not, give it a read and pay careful attention to a character called Seyton. He stands by MacBeth to the end, even though his king has done more damage than was ever imaginable. Perhaps you should change your alias to that?
I do own shares and have for many years. I hold onto them knowing the company has some assets, but continue to wonder how the shareholders put up with Andrew Bell’s allergy to cash. After the JMS recovery and refinancing from Metal Tiger, AB correctly stated that there were now sufficient cash reserves and future cash flow to avoid any further dilution. However, after ensuring he and his friend Scott got their salaries, topped up annually with above inflation pay rises, he took what was left and squandered it on one dead end venture after another, most notably Steelmin, whose bankruptcy was not even RNS’d.
Thanks to COVID, the gold price has shot up and some of AB’s very speculative investments are looking good. The problem is, how can we trust him not to squander whatever money is made from these, just as he has always done in the past?
CAML has done a brilliant job in smashing down the debt it took to buy Sassa. This has put a ceiling on dividends, but with very good reason. With a sizeable amount of debt paid down and interest rates at historic lows, they could relook this approach and re-invest profits or increase dividends. Even if they continue to pay down debt, the recent rise in copper prices should give us nice profits at the end of Q4. I just can’t see a downside here.
This can’t be a bad thing for PayPoint
https://www.theguardian.com/business/2020/may/27/uk-corner-shops-and-independent-grocers-ring-up-63-per-cent-rise-in-sales-coronavirus
The countries with lockdowns have left food stores open, which is where the PayPoint terminals are. People staying at home will use more gas and electricity. While industrial and commercial use will drop, I believe the bulk of Paypoints customers are residential. Add to this that the government has dropped interest rates and Paypoint is a high dividend paying stock, this looks like a winner.
Now down to .02 per share. 10% of what we bought them for.
GVC has a big debt pile, which they are able to service, but only just. If Coronavirus sees European sporting events cancelled, as some fear, there may be a period of negative cash flow. I don’t think they’ve left themselves much room for such an event and they may struggle to get reasonably priced loans to see them through. They may have to issue more equity if this is the case . Maybe not time to sell just yet, but definitely not time to buy either.
Sorry, Migori, not Igor. Damn autocorrect :(
Even if a Igor’s is successful, how can we trust AB won’t put the profits into the next Steelmin or Amulet?
Agreed Ludeck. Was literally a copy and paste from 12 months ago.
My post this time last year
“Another year gone with no licence in Kenya. Nothing significant in Columbia. Nothing from Steelmin. Good injections of liquidity through Jupiter and Para resources payments squandered on questionable assets and “admin” costs. Andrew Bell and Scott Kaintz continue to be paid salaries with annual increases larger than the uk market average.
Who thinks I’ll be able to copy and paste this message again at the end of 2019?“
If ever there was a worthless piece of paper...
3 years ago the price was 0.4p and this company was going nowhere. News came in of the surge in the manganese price and the dividends from Jupiter, so metal tiger refinanced the company, allowing the directors salaries to keep being paid while we waited for the dividend and relisting. The company went on to receive millions from the Jupiter asset, which was all spent on going nowhere investments and directors salaries. We also received a long awaited payment from Para Resources. None of this was enough to maintain the combination of AB's terrible management and expensive lifestyle and so the company took on even more debt and diluted even more.
With the fall in manganese we are back where we started. How can we trust that, even if the Migori gold project does come off, we won't see AB cream off all the money again and leave the shareholders with nothing?
If this does progress, think how much better a share of the JV we could have gotten with the £1.5 million that's disappeared into Amulet and Steelmin. If we don't, could the £1.5 million lost have made the difference in the Kenyan governments view of our ability to develop this licence?
Not much left to plunder fromRGM. Now he can concentrate on sucking the life out of POW.