Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sorry Rover it was a typo :) Minimise dilution means in simple english: "i'm coming back for more of your cash, cos this baby is going to cost an arm and a leg". They will need to increase their stake in the project and also pay for the work to bring it to production. For those who remember the gold project and the graphite project in tanzania you will know in which direction we are heading.
I am not trying to convince you. This is not a playground where we play tit for tat. This is a forum for investors to share their research and understandings and mutually grow together. I hope we can help each other preserve capital and be profitable.
Yes because here are a herd of investors whose emotions are getting the better of them. I am asking questions which bring into question the big man up top and they don't like it. I feel we have a case of Stockholm syndrome here.
My agenda is: sharing research, highlighting Matt's ineptitude and the very risky nature of this investment but also an open mindedness to your research/answers in case you swing my view and I therefore reconsider the investment case. We are all here to help each other. My millionaire buddies have gone, they were particularly prominent in AST and I will share that info with you next week. Dee, kindly remind me if I forget.
Dee, my restless child. Be patient. Your answers will come. Please get in touch next Wednesday and I promise to respond. For those who are going to attempt to answer the following may I kindly request that you check each RNS up carefully before responding. No fluffy responses, only facts. Thanks in advance:
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.
Are you having a laugh, those answers are farcical. You need too much educating and I'm on a breather. Let's see what your buddies have to add then I'll give one reply to all. It's a busy job dealing with a herd of gamblers who hunt in packs. I might be annoying you but trust me you need to redirect your frustration and energy towards MB who has robbed you off a significant amount of cash. This project is not heading anywhere imminently - pun intended - and I'm happy to stand corrected with the passage of time.
That will likely happen when the 92m shares are issued, 10%ers will run for the hills. Of course Dee and wasa will never sell. They are still waiting for 20p. Warrant holders likely to derisk their capital and wait to see if the warrants play out risk free.
Y'all do realise the word "imminent" was a Matt Bull favourite throughout the period of Kabunga's selling. The imminence miraculously disappeared from RNSs, podcasts, emails and investor comms when Kabunga had dumped the lion share of his stock. Utilising Jim's skill of "reading between the lines" may help us better understand what was actually going on. Thank you Jimmy for your enlightenment, hoping you can do more of it with the other questions, your buddies have miserably failed.
Great, more investors have joined the conversation. Welcome fellas. Hopefully you can do a better job than your predecessors.
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.
Let me make it crystal clear for all, the responsibility for preserving shareholder value and supporting the share price is 100% the (acting) CEOs. He is being paid by investors to protect their investments not decimate them. Mr Bull has destroyed shareholder value here. Dee will say I am making it all up so I refer him to the 3 year chart for bedtime reading. The difference between me and him is that I am calling MB to account and asking questions which all shareholders should be. Dee and his gang, on the other hand, have blinkers on and want us to believe MB does not bear the brunt of responsibility for what has happened. There is a very deliberate reason why my questions are being avoided - perhaps because they shine a light on MB which some ppl don't like. Look fellas, I'm sorry but i refuse to rub up his gonads like you guys. It doesn't mean we can't be friends.
Dee, your points have been addressed and answered. You are obfuscating deliberately. I am not prepared to invest further time into honing your comprehension skills especially if I'm not being paid for it 😜 . I don't mean to be rude but you are not coming across as a mature investor, you are very emotionally charged. Take a break for a week, allow me to use my time and knowledge more productively engaging other participants here. I promise, once we make some headway, I'll come back to you and clarify the things you fail to understand. I get bored easily and you're now boring me.
Hahaha, "a typo", Dee you are quite a character and one who has exposed himself for that matter. I will graciously accept your apology. Come back to me in one week's time; we can carry on flogging your dead horse then. I will engage the others now: Wasa, Jim, Dan and others who are - i hope - better researched, well-intentioned and emotionally mature. In case somebody has lost the questions amidst Dee's numerous monologues, here they are:
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.
Wasa, the sarcasm isn't going to strengthen your case. Now you are hiding behind BlackRock. We are here discussing Armadale, if you want to discuss BlackRock, their management, strategy and decisions you might find another forum for that. For the record I do agree with you on the following:
"You know Posco are the largest graphite trader in the world right? If they can't make it work nobody will, it's really that simple"
It does not necessarily follow that this is going to work on the terms attractive to investment. Big companies do have failures and make losses especially when operating in unfavourable and unstable jurisdictions. Of course, I hope it works out for shareholders but if it doesn't BlackRock shareholders will, as you point out, be royally "stuffed". We've seen a lot of that going on most recently a nightmare for shareholders at HZM.
Take my questions on Armadale and answer those please.
Thank you sir.