The next focusIR Investor Webinar takes place tomorrow with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Mali has had a mining audit, minister of mines resignation, new minister, and full legislative process for this new mining code, all in a few months.
Quite fast for any government bureaucracy.
Next up: publication of this new code in the Journal Officiel, appointment of the new mining title oversight Committee, approval of the transfer of our mining title (that then completes the funding deal with Hainan).
I reckon 3-5 weeks at current speed.
Many people have replied to JohnnyPC's allegations on many occasions. He's not interested in replies, he just likes to repeat himself on here for the attention.
There was an article that said Mali and Burkino Faso would consider any attack on Niger's new junta as a declaration of war against their own junta-led countries. Nobody has declared war, war is not happening, it was just political posturing by all sides after the Niger coup. JohnnyPC read the headline and ignored the facts or context. He likes to bring it up on a near daily basis here.
When he's not posting here he's over on the Prem board. Funny thing is, they can't stand him there either. He's like that thick kid at school that acts the idiot to get laughs but doesn't realise people are laughing at him, not with him.
A lot of personal abuse gets thrown around here.
Just wanted to say good luck to everyone that's holding this weekend.
The future is far from certain and this is probably a crux moment for the company. With markets closed and votes cast, it seems like its a leap of faith until that Monday morning RNS.
So, again, good luck all.
It's quite common for this vote to be passed at an AGM purely to give the BOD flexibility for the year ahead.
Prem would likely try to pass this vote regardless of any deal just because of the headroom/flexibility it offers. And, if they think Canmax may sign today but get shirty tomorrow they'd definitely go ahead
Actually, the connect product has a popup stand just in front of the shelf with Eroxon too. I reckon theyre really worried. Interesting. Especially as James Barder said he thought Eroxon was increasing the market rather than taking sales from these other brands
My local boots has put out a larger,new Cialis together shelf where they used to have the Eroxon shelf.
I'm seeing loads of ads on TV for these "together" products too.
I reckon they're worried about the Eroxon competition and are fighting back.
That's a good sign I'd say
I suspect if he did what you said he'd be facing fraud charges or insider trading charges.
A CEO can't just sell up and run. This plays into what I was saying. His shares are not the same as his cash. Because shares, especially for a CEO, are not as liquid or convertible as cash. They are inextricably tied up with the company and the CEO's position at the company.
GR does not have £8m in cash. He has a lot of shares in the company he runs. He can't ever just swap them for cash. He can occasionally sell some at a time. Or he could be bought out by the company. But his lending of shares at this time is not the same as him lending £2M of cash into the business.
The point was that GR selling some shares and running away, as was suggested, would ruin the value of the rest of his shares.
The preceding point was that his shares are all worthless if the company collapses because it can pay the lecky bill. Therefore its not such a show of confidence that he's lending some shares to save all his shares.
But hey, don't let that stop the ad hominem attacks. If that's what you need to do to sleep at night then go right ahead. Fans not investors, as I've described before.
Well that raises other issues:
Were any shares provided "for free" as director rewards?
Also, is he lending £2M of shares if he bought them when the share price was much lower?
But at the end of the day, he is not buying more shares to prop up the business, he is selling shares to prop up the business. As I said previously, these are two markedly different scenarios with markedly different risks.
MrNewb-
Seeing a lot if posts like yours. GR obviously confident because he's lending 2M of his own money to Prem.
He's not lending his own cash though. He is lending Prem shares in Prem to keep Prem afloat. This is decidedly different. If Prem can't pay their daily expenses then all those shares are worthless (or near worthless). So it's really no risk for GR and no loss for GR to loan the shares. If it works then he gets paid back, if it doesn't then he's lost nothing.
As ever, there are a few options of importance.
On the funding side:
1) canmax has agreed a deal (good or bad) and GR hasn't told us. Seems unlikely.
2) canmax has walked away (informed GR that theyre going to arbitration) and GR hasn't told us.
3) negotiations are ongoing well past their 10 day minimum and Prem hasnt informed shareholders of the extension.
4) canmax has cooled off and not told Prem what they're thinking (perhaps as they seek legal advice or a board decision or something).
On the production side:
1) stark has suddenly made everything work (not likely, last RNS said they'd be revising projections)
2) stark is making progress but there's some basic delays as they work it out.
3) stark have decided they can only make progress with more equipment or parts and that takes more money etc...
Nobody knows where it is at except GR and he's not talking, just loaning shares/money.
Best scenario is that stark just need a bit of time and canmax are allowing that time.
Worst scenario is that stark need lots of time and money and canmax are lighting the fuse on arbitration which takes time but may eat money. And we don't really know how long it takes.
Likely scenario is somewhere in between but that's anybody guess I reckon.
I guess what that's saying is, he's maybe offering the same number of shares as before but they're now worth more.
It's interesting that it's now interest free. That's a curious alteration as he wasn't charging loads and a short repayment period would have meant almost nothing anyway.
Acker-
Not sure which AIM rule GR may have been invoking but from the original RNS on directors loan to today, I make it a proportional increase between share price and loan amount.
21st July, SP at 45
Today, SP at 53
Increase = 17.7%
Original loan- 1.7m
Add 17% increase is roughly, 2m = today's loan.
Dunno if relevant. But could be the SP boost from last Monday's RNS (and since) has somehow helped increase the potential for director loan of shares.
As I say, not sure what AIM rule that might be.
There was a mining share that had the same RNS problem a week ago. Appeared on stock exchange but still not on any/most of the syndicated sites like here.
Not sure why there's so much abuse about this.
If Canmax are the only votes against, that's 3bn shares roughly.
If you need 75% of votes on the day to "win" then you'd need roughly 9bn votes to beat Canmax (if they're the only votes against, as above). That would mean 100% of votes on the day was 12bn votes, and a winning 75% was 9bn votes on the day.
As there are about 22bn shares outstanding, 9bn is roughly 40% of the total possible votes.
Pretty sure that's what TallPaulNY is talking about. Seems fairly straightforward.
Our new US partners are selling off major but "non core" brands... which makes me think they see Eroxon as a potentially core brand. Which is nice.
"Haleon wants to sell non-core brands in order to drive a more focused portfolio and pay down debt."
https://www.morningstar.co.uk/uk/news/AN_1691392345080869100/press-inflexion-among-firms-looking-to-buy-haleons-nicotine-business.aspx
Can't help think we should have had an update on the Canmax "friendly negotiation" period.
The minimum 10 days has been up for a good while. Have the two parties extended that period? Or has one of them decided to take it to arbitration? Or have they become friends again and decided to let Stark build the plant?
In any case, surely investors deserve to know.