Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Diary of a Beekeeper Part 2
The PS was missed from Part 1
PS When I was getting married in 1982 my parents offered to sign their house over to me if we would have agreed to live there but I did not accept their kind offer as we wanted to make our own way.
Diary of a Beekeeper Part 2
So you now have further background information about me so I can update you on BOU.
I got involved in PSL to gain access to Antos. (Achieved)
I bought a few shares at 0.01p. (Achieved)
I discussed why I thought Resolution should not pass. (Achieved)
I predicted our share-price would continue to rise after the 5 April. (Achieved)
I sold some at about 0.065p day before Open-Offer as I thought price before further news arrive was a good price to top-slice. (good move)
I sold all my shares at 0.031p on the morning of the Open-Offer as I felt there would be many de-ramping and price would drop. (good move)
I anticipated that HL would still permit me to take up my Open-Offer shares to the amount at close on the day before Open-Offer was announced. (good move)
I posted several times to not be too greedy in requesting too many shares in the excess allocation as it would be scaled-back to as low as 5% or 10% (correct except some received more than 10%)
I requested Open-Offer for myself, daughter and wife! And about 25 million extra each (I think) well this was sort of achieved except that I messed up Mrs Corporate Action so she got nothing (is that why she has been sulking?) Good move as HL gave me 26.11% extra (another achievement)
RKB
Diary of a Beekeeper Part 1
Many of you will know that I used to be a beekeeper with my late father and we had at one stage 97 hives. We began with one when I was a young boy and kept about 4 or 5 hives until in the late 1960’s we moved to a house on top of a valley that you could see Loch Lomond to the north and Ben Lomond and to the South we could see Port Glasgow (next to Greenock on the River Clyde) Fantastic views and no neighbours for half a mile north, south or west and east was a forest and hills and nobody for about 3 or 4 miles, totally isolated and over half a acre of land.
My father had the land and we built this apiary up to about 10 or 12 hives which was the most that the surrounding area could accommodate and my father was happy to stick at this level of a maximum of 12 hives. The problem we had was in the West of Scotland the weather is not really suitable for commercial beekeeping and some years we would not have any honey and it cost us money to feed the bees through the winter.
I suggested we had to scale-up and when you are about 40 hives you are semi-commercial but 100 hives you are commercial and it takes a lot of energy to manage that amount of hives. In 1984 we were at 97 hives and it was our best ever summer and we stuck GOLD. We had hit the jackpot and we did very well. Unfortunately the winter of 1984-5 was bad and we lost over 90 hives, other beekeepers were wiped-out but we survived, just. My father died in December 1986 4 months after I had a serious back injury and had three operations on my back and had to attend his funeral on a stretcher. I did not give up, I built the numbers up to about 30 hives and then began to sell everything. I had over 120 actual hives with all the supers and brood boxes, queen excluders, 1,000’s of jars, was & frames along with processing equipment and a pick-up truck and I gave all the money to my mother who had emigrated to Australia in 1987.My mother lived another 20 years and never had any financial worries, went on about 10 holidays to Germany, UK & Canada to see her family, had new cars, her own house and lived a happy life all because I did what was correct.
RKB
Good evening Applegarth
I am beginning to come around to Scotia re your Post at 11:50am yesterday. Sometimes you have to re-evaluate your research and be open-minded.
I was looking again at all the links for Scotia and thinking about what Neonicotinoid has posted. I will not spell out all the clues from his posting but if he is honest as I believe he is then it most likely will be Scotia Exploration Ltd. I will when time permits re-check all my research and if I have any doubt I will voice it on our B.B.
RKB
We are clutching at straws, try harder for your 2%
RKB
More Succinct, continued
So now we need to look at the open-ended cheque book that has been issued. We have a situation where the Broker soory (yes soory not “sorry”) that I can’t bring myself to name them (as we have moved on, or have we?) The Broker receives 3% in shares of all shares in issue when the RTO happens. So if there are 12 billion shares then they get 360 million shares if 20 billion shares then they get 600 million shares, for what?
Now there is a little problem with this 3%. There is at present no current authority to issue shares let alone on a pre-exemption basis. So how do we resolve this? Or is it a Mexican Standoff?
A Mexican standoff is a confrontation in which no strategy exists that allows any party to achieve victory. As a result, all participants need to maintain the strategic tension, which remains unresolved until some outside event makes it possible to resolve it.
Do I have to garner sufficient votes to call an EGM? Do I have to articulate like Liam Neeson did in “Taken” and spell out my unique skills?
Quote as amended by RKB“I DO know who you are. I DO know what you want. If you are looking for ransom, I can tell you I DO have money. But what I DO have are a very particular set of skills, skills I have acquired over a very long career on B.B. Skills that make me a nightmare for people like you. If you let my BABY go now, that’ll be the end of it. I will not look for you, I will not pursue you. But if you don’t, I will look for you, I will find you, and I will CALL you OUT.” End Quote
RKB
More Succinct
Good afternoon Neonicotinoid, I have reflected on your recent Posts and rather go round in circles or head in the wrong direction to the beauty spot (or the pot of gold) I will be a little more succinct so as not to lose all the genuine Posters on our B.B.
It is now exactly two months since the GM where the BoD lost round one (resolution 4 failing) but at present we do not have what could be described as a new queen in charge (Antos being a Director) Why does it take so long to process this?
When I worked for just under two years in Northern Ireland and I was living in an hotel for two weeks at a time and only returning for 1.5 days to Glasgow I decided to volunteer at the Ulster Hospital in the elderly care ward (I called it the do-lally ward) I said I would volunteer anywhere they could use my services but not with children (Jimmy Savile and all that)
The local health board had to do their equivalent of “Disclosure Scotland” even though I already had that as part of my financial requirements to practice. So I knew that it would take about a month to check I was a suitable person to “volunteer” and I believe it did take a month but it could have been quicker if some paper-pusher had not gone on holiday for final sign-off. Now due to the past troubles in Northern Ireland I am sure they would want to carry out further checks just to be 100% I was not a weirdo and wanted to do something silly within their hospital.
But for whatever reason we have not seen any indication that another new director is being appointed, this could be stalling tactics by whoever (not intended director) but I have to say two months is now taking the Disney (Mickey Mouse) Either put out an RNS to say that we have no intention of “re-structuring” the current BoD or appoint A N Other.
RKB
Fun Posts
Later today I will try and reply to Neonicotinoid as I have a few things I need to achieve this morning.
I only read the B.B. on my iphone yesterday (whenever Mrs was distracted) and with LSE playing up it was not easy to keep up with events.
After Mrs fell asleep last night and I had played a few games of chess I read the B.B. and I have not had so much fun on a Tuesday evening in years when I read Slowlyslowly’s cake post and later when I read A-Milli’s ghost post.
You may not know this but a Tuesday evening is the lease likely night when children are conceived. Long ago I read an article about when couples made out and as you would expect Fridays and Saturdays were the most active evenings but Tuesdays was almost nonexistent. So whenever it was a Tuesday I used to say to the Mrs that we need to correct this low statistic and do “our bit” and get our batting average up and as I was the numbers person it usually worked (that was long ago)
It does make a change to have some fun on our B.B. and hopefully we have not distracted too many from what we are all seeking and I would like to think that later I can post maybe a bit more directly to tell them what they have to do and when.
RKB
PS Mondoman I also like your summation.
PPS I feel that I should possibly add a little about religion as I may have not been as articulate as I could have been. I am in what we call in the West of Scotland a mixed-marriage. We went to see her Priest but he refused to marry us because she was not “religious enough” so my minister married us. I should have said I no longer attend church that does not mean I do not have beliefs it just means I do not like being preached to. We all should respect others views and hopefully I have not offended anyone as that was not my intention.
Good afternoon Neonicotinoid
Continued:
4: Overthinking and Greed. There is nothing wrong with overthinking, all that is in my mind is that you have look at all the possibilities that you can see but sometimes you have to have a third party who does not have an axe to grind to ask maybe one or two other questions as you may just not have thought about them. Now greed I have an issue with because we see it all the time on every B.B. Posters are greedy and that is their downfall. If you are not greedy then there should be sufficient to go around everyone but like envy or lust greed is something that you have to resist. I could write for hours on greed but nobody would read it just like a smoker will not read (until it is too late) about lung cancer. Posters should be realistic and if they are then we all win gold”.
5: Now we come to “insider information” this is an interesting question from you as I believe all Posters know that they are not permitted to act upon any insider information. But then again it has been articulated on many B.B. about MM, Forward Selling and Placings to name just a few but the FCA in my mind like HMRC and a few other Corporate Bodies deliberately turn a blind eye to certain things because “they are all in it”. Have I ever used insider information? No because I have not been in possession of such. If I did have insider information, would I use it? No. But the problem we all have is we believe it goes on and nobody is prepared to stand up. I did stand up, they knew what I knew and they had to “work around it” and they did. So logically the real question is why they are still here and why have they not agreed to another new director?
Neonicotinoid, I do not know if the above covers it all, but if not please let me know.
RKB
PS Do you recall I said Friday 13th in 1997 or 1998? It was 1998 and that hopefully proves that my memory recollections do go back a long way and they are instant.
Good afternoon Neonicotinoid
Continued:
2: Nom-de-plume was a tease to see if you really were a bee keeper. Well I was on the radio many years ago but it probably was not played in London and then I was again on Radio 2 drive-time show where you phone in to say who you think the mystery guest was and they only select you if you have a story to tell so obviously they took me rather than JRK as I could talk all day about bees. So yes I was a beekeeper and at one time we had 97 hives but I am no longer a beekeeper and my wife does not like honey. But as soon as I seen your nom-de-plume I thought I knew who you were but we sometimes see things that we want to see, do we not? When I posted 2 or 3 years ago there was a very nice poster called I think Chalotte10 (in the 5% tax the neuron category) and she was always correcting my grammar and spelling and punctuation and you would think this poster was female but it turned out he was male so we can all make a mistake. In saying that I think I know who you are.
3: As is your habit I would like to share an anecdote. Well many of my posts are constructed that way and it is for a reason. Posters will maybe take note of what I am saying and if they do then I have managed to get my point across. Now you eventually found out that your friend was not the owner of some Kruggerrands and was basically economical with the truth and lied about his wealth. I was brought up to be honest and we brought our daughters up the same way and whenever I quote facts or figures from memory they are 99.9% correct. When Posters (or others are embellishing things they have to have a good memory because if they do not then they are caught out because people to remember certain facts i.e. We bought our first house for £27,900 in 1981-2 never quote another figure to inflate how much “profit” we made when we sold it later. However others lie and lie and their lies get more absurd the more they lie and eventually Posters realize who is telling the truth. So it is up to others to decide if there really were Kruggerrands or not, only one person would really know.
RKB
Good afternoon Neonicotinoid
Continued:
The main reason why I Post on B.B. is to share my research and with a bit of luck others will read it and add it to their research and maybe buy our shares. As Knigel often says no Poster can influence a share price up or down and I agree with him except when the herd arrive that creates volume and that creates a market and then there are buyers and sellers. I am not religious per say (I respect all religions) but if I only wanted Posters to read (hear) my Posts then I would be a preacher and in my opinion many preachers are dictating a very narrow view.
Now there are in my opinion about 70% of Posters who basically add no value at all with their one liners that often mean nothing. Then there are probably about 20% who genuinely share their research and thoughts and ask probing questions or refute other’s research with their own counter arguments and it is this 20% that I can engage with in debate. Then there are the 5% who are basically nutters who are probably put in Dusty Bin but I do not filter as like Donald Trump you get the odd laugh. But then there is this final 5% like yourself who actually task the neurons in my brain.
So last night’s Post had a few things that a few hopefully picked up on and I may or may not expand on as it all depends on my time on laptop (before divorce is threatened)
1: Literary Skill like JKR must earn you good money. Believe it or not I think I am very poor at English failed my O-Grade English, paid for a tutor and passed it the next year. Not having English prevented me from going to University so I went to college and did a Business Studies with Computers (can’t even recall now what it was) along with Higher English and O-Level Accounts (all Passed obviously the accounts was an A pass) and this was to enable me to gain access to University but I took a summer job in a computer company and stayed there about 15 years.
At present there are no similarities with JKR (Harry Potter) because I am not female, not in the Sunday Times Rich List (yet) and I don’t write fiction only the truth.
RKB
Good afternoon Neonicotinoid
I apologise for the delay getting back to you but “things happen” that take precedence.
I think you know I try to use my time wisely and whenever I am driving I try to make calls to important people and at the same time let the Mrs know when to expect me home. Yesterday just as I was arriving home after dropping my granddaughter of at her place, I took a call as I drove into my street. This important caller said I could call him once I was in and settled. The only problem was that my dinner was about to be served and I said to Mrs I would only be 5 mins but the call lasted almost an hour.
So the scene was set for some subliminal friction later in the evening and while I was on the laptop and not really watching what was on the TV the Mrs turned the TV off obviously not in a good mood (thats what the One Show does to you when a 51 year-old midget from Australia reminisces on her big break on Neighbours) Obviously I had to switch off laptop and watch a nature type program we had recorded on the Mississippi River and for 85% of the program Mrs was asleep!
So that was why I could not Post last night.
Now there are several things that were in your Post that I feel would be more appropriate if I began a new Post as most on our B.B. will most likely get irritated and “switch-off”
RKB
Good evening Rampycrampyface
Nothing technically happens when one individual or one company hold 25% but it does have some leverage.
For back of envelope calculation assume a company has exactly 100 million shares then if Mr XYZ has 25% then he would have 25 million. Now recently our special resolution 4 failed as it did not achieve the 75% of votes cast to ensure this resolution passed.
On ordinary resolutions there is only a requirement of 50% of votes cast. It is the votes cast that is relevant here for Mr XYZ and his 25%.
I have never known a resolution to have 100% of all shares actually cast their vote and it can often be very low but normally about 70% would be seen as shareholders taking an active interest.
If we ever had a situation where there is a special resolution that was not in the perceived best interests of ordinary private investors and Mr XYZ then the BoD would require 75% to bulldoze through their special resolution and the only way to guarantee for it to fail without doubt is to have 25% of the shares.
So let us assume BoD want to have their special resolution and private investors want to vote against then you need to do the maths. Say 60 million cast their vote, 25 million against and 35 million vote for then the resolution fails as they would need 45 million to pass (60 million x 75% = 45 million)
But as 25 million vote against them then only a maximum of 35 million would have voted for and this is only 58.33% and far short of the 75%. No matter how many vote for the special resolution, it will fail as it is impossible to achieve 75% of all the votes if Mr XYZ has 25%.
So even although 29.99% is a threshold that Mr XYZ cannot cross without triggering a takeover having control over 25% will always ensure that any special resolution can be defeated if required.
What we all have to be mindful of is to return our loyalty to Antos to show without any doubt that he will be supported and if we do then it will be golden, 100% guaranteed.
RKB
Chess Strategy Part 2
So what did I learn at the weekend from our new chess player on the B.B.?
Our Neonicotinoid nom-de-plume is interesting: Neonicotinoids (sometimes shortened to neonics /'ni?o?n?ks/) are a class of neuro-active insecticides but due to my beekeeping knowledge I also knew there was something else here: Neonicotinoid use has been linked in a range of studies to adverse ecological effects, including honey-bee colony collapse disorder see link below.
So when Neonicotinoid began posting I sat up and took note. If we analyse his (100% it is a he) Posts and see what he was trying to convey then you may have the key. There have been at least three possible RTO companies mentioned and a lot of debate about value but I believe all we need to focus on is this part of his Post:
“If as many suspect BOU and Coeur Gold Holdings RTO our shares will become the shares of a pre production mining company which has mining rights in Armenia and Kyrgyzstan. If the company goes into production it’s value will increase and it may even start paying dividends. This I believe is a succinct way of what some on here have been saying.”
He also exlpained how it will transact cash up-front and shares to the owners of Coeur Gold Holdings.
As always please do your own research.
RKB
PS all we need to see is a TR1 for 25% and it is game over.
https://en.wikipedia.org/wiki/Neonicotinoid
Chess Strategy Part 1
A few posters on our B.B. will know I play chess but only against the computer and I play not to win but to not lose. If I do not lose then I either win or it is a stalemate.
I have not played against anyone (except family or some relatives) for over forty years and I would say that I am an average chess player. Even though I was the school chess champion, even then, I was just a slightly above average chess player and the others were at best average.
Now with Bould Opportunities it is like a giant game of chess. Most of us are average, one or two are “professional” and one or two are definitely amateurs.
I know nothing about football (do not follow it as it does not interest me) but football strategy I believe is similar to chess: You attack and score goals and you defend and deflect goals. In chess you attack your opponent to capture their King but at the same time you protect your own King.
In every chess game I play against the computer I always learn something new and I try (not always successfully) to use this new knowledge in future games.
If when I am playing against the computer and I took-out say 3 of their pieces that would be 3 out of 16 or 18.75% (not 18.43%) then you would maybe expect I would win (assuming the computer has not taken any of my pieces out) But if the 3 pieces that I have captured were only pawns then I think the computer would still win. But if the 3 pieces were high value pieces like a Rook, Bishop and Knight (and I still have all my 16 pieces) then if I did not win that game then I would be better to take up football as I should not lose with such an advantage.
But let’s say I have captured 4 pieces i.e 25% and they are all high value pieces (again I still have 16) then I have won at that stage and the computer would capitulate and resign and I (WE) will have won.
RKB
Good afternoon Jandtw1
Excellent Post
Most Posters will be aware by now that I am a numbers person (Mrs is the proof reader, speller etc) and I like to mention % all the time. Your Post I agree 100%
What I would add is that the reason why the Open-Offer was at the price of 0.0125p was to right a wrong (will not mention organisation anymore as we all have to move on)
Antos pushed for this Open-Offer and all LTH would have seen their average go down but also their Open-Offer shares and excess shares go up as at close today by 252% (0.044 -0.0125 = 0.0315, from 0.0125 to 0.044 is 252%) now this is only the start.
What I believe we LTH should be mindful of is to return this good deed of Antos and support him when / if he requires any support (i.e. votes) As they say one good turn deserves another.
RKB
PS don’t know if I am getting any dinner tonight as I went back to my study and Mrs was not at all pleased. Note to myself move wine rack to study.
Friday Afternoon
I requested Rusty9717, who is a good friend and whom I have attended AGM’s with over the past two years and whom I meet privately when I am in London, to post for me this morning as I had to deal with my granddaughter who has an infection and had to go to the doctors and then we (mrs & me) had to get a sample which was as difficult (almost impossible) to obtain like excess shares in the Open Offer. I have spent 6.5 hours today dealing with the above.
On a different note, I spoke yesterday to Antos and he was upbeat and obviously gave nothing away. I also spoke this afternoon to Antos as I was working on something and he seemed more upbeat than at any other time.
Now it could just be it is Friday afternoon and the end of the month and most people would be up-beat but I detect some BOUnce in his voice.
Enjoy your weekend and don’t forget about the six degrees of separation as it is only three: Antos, myself and ?
RKB
https://en.wikipedia.org/wiki/Six_degrees_of_separation
Ecellent News TR1
This TR1 today is excellent news.
For Antos to increase by another 4.21% over and above his Open-Offer entitlement is the only endorsement I require to confirm his intentions to pursue our desired RTO.
If Antos is with HL and he applied for an extra 758 million and he received 26.11% then he would have only received about an extra 197,913,800 but we know he received an extra 450,244,949.
Now if Antos received all his 450,244,949 additional shares in the Open Offer then he would have had to apply for 1,724,415,737 (1,724,415,737 * 26.11% = 450,244,949) this would have presented a problem.
Antos would have begun with 1,516,000,000 (758 million * 2) add in possible extra request of 1,724,415,737 if granted in full = 3,240,415,737 which on current shares is 30.39% and would be over the 30% limit for mandatory takeover.
I have to conclude that Antos would have only received between 10% and 26.11% of his excess request which can only mean that he has been buying in the open market and at prices of about 100% of the Open Offer price.
I believe in Antos and I am still of the opinion that he will facilitate an RTO.
Hopefully now we will see some director(s) leaving / joining.
Exiting times ahead.
RKB
PS I have not spoken to Antos recently but I will call and congratulate him after the market has closed.
On Companies House
This has been discussed before but it could be something that anyone who is thinking of investing may want to read.
From a document filed at Companies House on 29/11/18 where the amount paid per share for the 120 million shares of nominal value is £zero but a loan note for USA $ 55 million. You need to put your thinking hat on to really understand what is going on here as there are also shares of 129,999,900 and the same loan note.
When you figure out how stuff is divided up (just like in the Hatton Garden Robbery) then you can also take your rightful share before others take it from you.
RKB
https://beta.companieshouse.gov.uk/company/11435499/filing-history
Broker Warrants
I have been speaking to a good friend today and we were discussing the Broker Warrants and he thought that we may have our jailbirds orchestrate a nice increase to unload their 3% of total shares in issue. This would mean warrants at present of 372,253,268 which obviously will bring in some additional cash of £37,225.
Now there are other warrants about but before any can be exercised there needs to be an AGM or a GM to authorise an increase in equity. Now Peterhouse will wait till other warrants have been exercised before they will exercise their warrants as they get more shares due to the increase in shares after other warrants have been issued.
So let us assume that Peterhouse are going on a long (very long holiday, well they were in jail and will obviously want to celebrate their freedom) So what would I council my daughter or close friends to do?
Say my daughter had 10 million shares in the Open-Offer and the excess application (for ease of calculation) and at a cost of £0.000125 this would have cost her £1,250. Then as she would have received only between 10% and 26% of her request for excess application she should have a minimum of £1,250 due to be refunded. Ignoring charges she could buy 5 million at £0.00025 (100% premium to Open Offer) and would then have 15 million at an average £0.0001666667.
Now if you have been watching the Hatton Garden program on TV you would have seen how jailbirds (Peterhouse-Birds) show their true colours and basically get greedy. Will the Peterhouse-Birds want to exercise their warrants at £0.0002p or would they be looking for substantially more? Only you can decide what price they would be wanting but I can assure you it will be north of your average in the above calculation.
RKB
PS If you have recently be incarcerated then you should be aware that there are people on this B.B. who are available pro-bono to assist and help you adjust to a moral life to enable you to sleep at night not having to protect your back and your warrants.
PPS Niksag, excellent Post could you email to Peterhouse-Jailbirds please?
What I like about our Broker (ignoring the fact I will never invest in a company that they represent due to their integrity) but as I am a shareholder and at present I am not selling till we know the next new director, is that Peterhouse receive 3% of the share capital on an RTO.
Now they the prisoners, who just walked out the front door of the jail (keys provided by?)
Do you really believe that Peterhouse will not assist with an RTO?
As always you should do your own research and not rely on others to do it for you.
I do not like posting on my iPhone I can’t really see what I write and I like to have a copy just in case my post is expunged due to a 3% holder who does not like being exposed.
RKB