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Hi Reg
I hope that you have felt able to support the action against the Board. Your involvement would be material if not already active. Many thanks.
I IMPLORE all shareholders of any size to join the effort for answers.
In the past, I have often taken the view that only big shareholders matter. In this case, every individual matters. Please do not assume that someone will protect your interests. The CEO has been awarded embarrassingly extortionate pay rises and exceptional bonuses - the Company is loss making.
RG is enjoying a glorious lifestyle for what must be very little time working. Nothing has been delivered by him beyond false promises. He is the proverbial snake oil salesman.
So all you have to do is follow the simply instructions below and thereby increase the pressure for change before MNRG goes into liquidation or shareholders are diluted to death.
Very annoying that I won AGAIN! I only put ridiculous low numbers forward so as to bring the average expectations down.
FFS!
At least the mine is EBITDA positive now
The delayed tin production at LP seems to have been fortuitous.....bring on the production update next week.
I am looking forward to Safety's opinion on whether to be in or out over the weekend
Kev
Our man on the ground is in need of attention and about as useful as a bicycle pump in a hot air balloon :)
He was commenting on the changes to Board and management team announced by RNS.
He provided news that production in September was 'good' which may mean that thankfully I lost the guessing game for the quarter.
Exceeding design capacity for La Parilla, ahead, sounds awesome. Let's see what numbers get reported.
I am reliably informed that the TR1 was triggered solely by the dilution announced yesterday.
The loan conversions are at the behest of the lender, not MNRG. The balance sheet is strengthened by the settlement of a loan but shareholders own a fraction less than they did as a result.
Of course there's dilution. Theyre issuing another she'd load of shares.
Basic arithmetic.
The President is up for re-election November. Seems a forgone conclusion according to the media. That should then enable him to push on with reactivating the uranium mine. It was parliament that put everything on hold. The pitfalls of operating in far flung tiny countries.
My expectation is that the Govt will indeed take the asset and issue compensation to the owners. That is why MNRG invested and then loaned monies. It could provide an important windfall. Ideally, the owners of the licence do indeed get to retain their interest and move to production. MNRG onsell the majority of their investment.
OMR - I just hope that I do not win the competition again as last time, it didnt feel like a win LOL
13.16
Speaking as one of many LTHs, I am very pleased with today's news. It is vindication of the EQT strategy. We have limited resources and it is becoming apparent that DP has found the way to maximise our capital by using partnerships etc.
The sp will be whatever it is - the Board cannot buck the market. As long as they continue to deliver as they are, the market will forward price our business when proof is delivered.
Good luck to all - even those who are negative at present :)