Member Info for prickly

Happy to join you Quindell . . Pinning LR down to a meeting should be possible as he says he is always happy to meet up with shareholders .

that Mankayan was worth a lot of money . Not some random anonymous poster. This is why he invested 400k of his own cash. I just wish he would repeat his valuation now. He could do it in a vague way by reminding us thT in his opinion the mine is worth more now than Consolidated offered 6 or seven years ago. And that it is the intention of the board to achieve this.

They have 1m in cash but say three will prob ly need to raise more funds in the next 12 months. Not keen to read this.

I have decided to clamber aboard this band wagon. Hope the wheels dont fall off as they usually do when I invest.\
I recognise many of the "usual suspects" in this share chat and detect the same hopeful note as on BZT but at least some folk have actually made cash which is in marked contrast !
Hopefully my small 1m buy will allow me to add my two pennith here.

is worth ten in Africa. Bird explained his theory of comparative values at the investor show back in April. Hence we will never get the full value in the Philippines but we should still get something substantial and I think $100m would be fair value given the political risks. The likelihood of a local or Chinese involvement could lower the risk element but also the potential price payable . As any reduction in regulatory issues that a local or Chinese investor would encounter would be balanced by their increased price chiselling skills .

Thanks Quinny . I had guessed it was the messiness and complexity involved in buying a company which owned the asset which put buyers off. This was broadly what I was told at the AGM especially if the board did not endorse it , i.e as you say a hostile takeover. I am still nonplussed at the huge disconnect between the value of our assets ( allegedly) and the Market Cap. I am also intrigued as to where the SP goes as and when we get an offer. I suppose a lot hinges on how the board decides to dispose of the proceeds. I for one would like a special divi of say 2-3p and the rest spent on developing new opportunities like Eureka. Hope i am not dreaming.

I asked at the AGM why anybody would pay $150 million for an asset belonging to a company if they could buy the company for a fraction of $150.m. I didn't get a satisfactory answer. At least not one that I could fathom. Perhaps some of you wise chaps could enlighten me. I would buy the cow...

I dont think Mankayan is an illusion but it might just as well be for all the impact owning this asset is having on the SP.

One of those was me returning to the fray Quinny. I hope to continue topping up for the near future but I cannot pretend to any key knowledge or inside info. I just presume like most of us medium term holders that sooner or later Mankayan will be taken on by someone with the resources to exploit its massive potential .

At the AGM i challenged the creation of this share option scheme and abstained in the vote. If more of us had turned up we could have voted for a less dilutive scheme. If the strike price were 1p I would say it was acceptable. There is a limit to the amount of options they can award themselves. Lets hope it encourages the BOD to dispose of the assets profitably.

Trump’s single handed attempt to blow up the world economy has derailed the copper price . Down to 2.69 today about 20% off in the last two months. This won’t help Mankayan’s immediate disposal prospects but underlying demand for copper will continue to grow despite the antics of the tweeting buffoon.
If we don’t hear anything positive i suppose the Sp will continue to drift and investors will get more and more disillusioned but I intend to start buying more shares from September onwards as even a 30million dollar bid will push us towards 2p and this is on the low end of the spectrum.

I emailed LR pointing out the shareholders were getting restless for lack of news. He replied promptly that he is knee deep in Manakayan matters at the moment and will update us once he and Colin have received all the workflows to their satisfaction. He is back in London next week. Not sure what to make of this exactly but sounds positive. My plan is to start buying back in September (i still hold 10 million). I doubt if much will happen during the silly season plus it coincides with the rainy season in Philippines which makes wandering around sites awkward.

I still have a decent chunk, so I won’t be disappointed if it shoots up in the meantime. I expect LR will put out some news on how the new scoping and drilling is doing. But i somehow doubt we will have anything earth shattering for a little while. Glad my shares have found a good home. In the words of the famous US general when he had to leave the Philippines durin WW2 “ I will be back”

Apologies folks. That was me selling again.. There is absolutely nothing sinister I just need the cash for my business at the moment. I am now finished selling . This weather is fine for ice cream and Rose but not helpful to the gift and gadget business. I will be back buying again with a vengeance in september.I do not want to miss the boat which will surely arriive.

Dont worry about that 3 m sell. That was me I needed some short term funding elsewhere and I shall be buying back in again shortly as I am sure this is going to rise soon.

"One banker with knowledge of the matter said for high-quality assets, where there are large deposits of high-grade copper, Rio Tinto would be ready to pay a premium of 30-40 percent over any target’s stock market value or, if unlisted, over the value of the project’s copper reserves."
I dont think we are going to be taken over for £6m but would be happy for any reasonable valuation of the copper reserves.

Well teacup CB has put a high valuation on our prime asset and we are all hoping his assessment is at least 20% right and we shall all be delighted inc most of the long suffering LTHs.
He has been on the case for three months and not delivered yet but he assures us he will so we all await his endeavours to offload with a reasonable degree of guarded optimism. If we are still languishing around the rock bottom SP in 12 months time then you were right.

Bird has pulled off a couple of coups by investing in copper mines and selling at a handsome margin . He likes the prospects here at BZT and has recently put a lot of his own money in. Mining is a high risk high reward industry...

Yes he sounds very positive about Mankayan and promised an RNS within a month. All this talk about decoupling of copper prices from other commodities due to the coming electrification boom. When is all this this going to translate into an increased SP for our tiny little company I wonder?

Randy . I raised your complaint to LR that he did respond to your phone calls. He professed surprise and claimed this was not the case!
So I suggest you keep at him. Under their new share option scheme his interests should be more closely aligned with ours. You might ask if he has his options in place . or if not when?