Member Info for RMc2407

I felt positive after re-evaluating the overall prospects of the company and because I bought into the idea that mining could start relatively quickly.

Now I feel let down again.

We were told repeatedly that the mining license was a given and that work was continuing on this assumption. So why the delay in a plan and financing?

Granted the Blackstone windfall was unexpected (and extremely fortuitous) but even that has been known about for some time. In stocks like this, which as yet have no income, a steady stream of news in essential.

We've just had £6 million worth of assets added to the balance sheet without any effect on share price. Of course these things happen. Identifying such anomalies is how value investors make their money. But we're not talking a Benjamin Graham deep analysis here. It's bleeding obvious that the SP undervalues the company.

My suspicion (and I suspect this is shared) is the Blackstone shares will be quietly sold off and used to pay salaries, rather than financing (directly or indirectly) a mining operation.

The lack of attention to detail is also troubling. Irish mentions the website not being updated. The granting of the environmental clearance certificate was also missed at first. This looks amateurish.

I take no pleasure in expressing these sentiments. I have money tied up in this. I want it to succeed. Unlike many of the longer term holders, it wouldn't take much for me to be in the green (despite my doubts I still bought in at the bottom, and I haven't sold a single share.)

All it would take to completely negate all that I've written would be a series of announcements detailing a plausible plan for the mine. A corporate presentation would help. As would having someone more plausible than Charles Archer than the Roasties in support.

If the SP gets near 1p (and it ought to) I'll gift Colin a crate of Dubai chocolate.

I've given up on H & G now.

My only hope is that the SP will rise to reflect what's on the balance sheet.

Got my voting form for the AGM in the e-mail this morning.

There's a motion for confirming Colin Bird as a director. Same for Evan Kirby.

I'm thinking about it.

$15 million.

Can't see why anyone would sink that into a venture with a company chairman who's seen as a bit of joke.

£6 million added to the balance sheet with no upward effect on the share price, a diluted share of Blackstone and no plans to develop what's supposed to be the prime asset. This is starting to look like a lost cause.

Perhaps we can get someone seconded from Blackstone. They appear to know how to run a company.

I'll give it until the AGM but I'm not holding out much hope (or gorob.)

Glasshalfdrunk,

Bezant's been a really long wait. It would have tried the patience of anyone. But if you wen't so dishonest you'd have pointed out that I put aside my misgivings around April, when it became clear that setting up the mining operation wasn't the expensive undertaking previously assumed.

We've since had the mining license and have added £6 million in Blackstone shares to the balance sheet, which makes the company extremely undervalued. You could have found that out yourself if you weren't so lazy.

As I bought a big tranche of shares near the bottom, way more than my original holding, it's looking very good. If you don't believe me, I don't give a toss.

As for Hemo curing cancer that's laughable. This little enterprise is Vlad playing with his test tubes and getting you mugs to pay his salary.

Nice try glasshalfdrunk.

I bought a load of BZT very close to bottom and it's looking good. Really good.

Unlike this load of rubbish which will continue to decline until it gets suspended. Enjoy, Hemofools

This isn't a cure for cancer. It's a ten a penny lab experiment.

A mad scientist and a scruffy git who can't even afford a suit.

"As others have said it's blindingly obvious this conapny needs a big cash injection..."

Who in their right mind would put substantial capital into a crock like this? It's not even a business.

Indeed, Prickly.

As we've been told repeatedly that granting of the mining license had been assumed and work was ongoing, it's not unreasonable to expect an annoucement soon.

You've previously mentioned a special purpose vehicle. Be interesting how the market reacts to that one. No one talk about Enron.

Fair point Pricey! Putting your money into mining shares is never a sure thing.

I once sold shares in Centamin having settled for a modest profit. Two days later one of the walls of the open pit collapsed taking the SP with it.

A penny works for me, although I've never been into SP predictions.

For a brief period yesterday I was in profit. Felt kind of odd.

Ignore what I've just said.

There's a 12 million buy at 0.041

I wouldn't get too excited by 0.04 paid. Those are tiny trades.

Good day so far though, in both SP and volume.

I agree with Pricey on the Blackstone shares. £6 million to be added to the balance sheet of a £4.8 million company and there's a negligible effect on the share price. Weird. You'd think the value investors would get involved.

Financing of H & G is the interesting bit. A few choices available. Not the worst problem to have. Needs to be announced pronto if we're going any short term advance in the SP.

Much was made of Charles Watson acquiring a just over 3% stake in February.

Yet the current list of share holders shows his 475 million shares as an ex-holding.

No RNS to announce this that I can see. Ideas anyone?

0.05 by the end of the month would be ok with me. That would reflect the Blackstone shares on the balance sheet (and on a personal level I'm at break even then.)

But by then I want to see plans and financing for Hope and Gorob. If that's not in place then it's proof that there's no intention to mine and the grift is to continue with Colin Bird & Co paying themselves salaries for the foreseeable. In which I'll getting rid of my holding.

From IDM website.

Supreme Court of WA Approves Scheme of Arrangement

IDM International Limited is pleased to announce that the Supreme Court of Western Australia has today made orders approving the scheme of arrangement by which Blackstone Minerals Limited will acquire 100% of the shares in IDM.

Routine stuff of course, but if anyone at Bezant has a functioning brain they'll be sticking this in an RNS

Nothing wrong with taking some profits on a spike, if that's what you want to do, but I'd retain some holdings longer term.

We're about to add £6 million in shares to the balance sheet and that's not yet been reflected in the share price.

After that there's the financing of Hope and Garob. If how that's to be done is well received then it's long overdue blue touch paper time.

It's awful dh243. No point even selling. Just give your shares to Prickly.

Results of Scheme Meeting

IDM International Limited is pleased to announce that IDM Shareholders have today voted in favour of the proposed acquisition of all the share in IDM by Blackstone Minerals Limited, by way of scheme of arrangement.

https://www.idminternational.com.au/investor-updates/

Not unexpected but official now.