Member Info for Sanboy

My own insurrection...Feel free to explain yourself.

San

Hissyfit? The guys gave themselves free shares and nobody questioned it. James did not save the company as Poulden wouldve reinvented the company as he did with PGCE and it would've pumped. He had opportunities in the middle east btw. James saw an opportunity and went for the neck.

I would say im sore, but ive made my losses back so it was the best decision all round. This company has no direction, money or leadership as it stands right now, so its hard to justify any case for investment. Remember those free warrants and shares will be getting dumped soon

San

This company is an absolute mess. No clear direction, no funding, free shares all over the place. Who is the technical authority on this? Nick headed up the core development team before they merged with VLRM? Pete has stepped away from the board, can i ask what he did to warrant his free shares? Am i going to get an apology from him i wonder?

-I told him about slippery Poulden,

-I told him Patrick was a Blagger

-I warned him about Nick and the mess he caused with the 21m funding he burnt through before VLRM merger.

I wanted an EGM to remove people and i was booted out of the group.

This company needs to be sunk immediately. Feel sorry for all investors that are still in it.

San

I think i called 4p. Not sure what they are going to do with that small amount of cash injection. They need at least £5 -10m and those warrants arent going to help with future funding rounds unless they get dumped quickly as im not sure there is a restriction on when they can be exercised and sold, happy to be corrected. If so then those warrants can be dumped at anytime above the 4p exercise price. If they dont get a funding agreement then the next placing will be under 2p, with warrants

San

So the shares have a 2 year lock in agreement, so was being a bit naughty saying its free shares being sold :) . Nothing is stopping sell off of previously owned shares that have no lock in agreement. They dont have to declare it as its on Aquise markets.

San

They wont be selling their free shares as they cant. They will be selling their already owned shares, which can then be subbed back in by their free shares. I know that one individual has a significant amount of privately owned shares that have no lock in period. Also no requirement to declare if shareholding changes.

The significant worry is also the pull of funding. There is clearly an issue that hasnt been openly communicated

San

I think somebody mentioned 4p placing? I would be very surprised if they get that price on the current position. If they get some traction on products to market then they may get a better return, but personally i would be wanting at least 50% discount to 2-2.5p. The risk is too significant with the directors free shares, minimal funding and no product.

San

Directors.... Ones with lots of free shares that can now be sold

San

All those shares being dumped. All being done under 20k and 25k clips. Wonder which one of the board is doing it. I have a pretty good guess

San

Had a nice little taste today for some extra beer money. All look like dumping it now

San

Somebody dumped a shed load pretty quickly. I warned people about those free shares and the greedy eye

San

Would check to see what the issue date was for those free shares. If its a year lock in ended then i wouldn't be surprised if those rounded sell clicks are the free shares being offloaded

San

I know the feeling... I Got booted for asking for a EGM to understand the reason why free shares were issued for zero delivery. Looks like a bit of a hammering right now. Is this to do with funding?

San

Yes i sold all my stock at around 4/5p after i got booted out of the group. Doesnt mean i want this to fail as there are some long term holders that deserve to get their money back and profit. I think it can do well if the money is invested wisely and they get products out to market.

With regard to the board fallout, i was a big shareholder and was asked to support them when RP was removed, which i did. I then saw that they dished themselves free shares to reduce/cover their loses, effectively screwing me over. Fortunately PPP was massive for my portfolio and it was the right decision to dump and run even at the current VLRM price.

Anyhoo, as mentioned the concern is where the funding is going to be spent and how that will translate to revenue generating product.

San

Came on the board to say hello and this made me chuckle

Good to see investors recouping some of their losses here. Not nice for anybody to lose money. Made a bit on a trade from 9s up to 20s which i cant complain.

Good to see funding agreed, but then the worry is that a lot of money was spent under GSX group and nothing came of it. Whats the confidence level on whether a product will be out and revenue generating this year?

San

Perhaps a few people need to go back to the books as some of the information here is incorrect. Secret Background selling is impossible. Every trade is posted (Including shorts, which appear as sells). The books need to balance, so you may find that trades arent posted immediately as they may need time to clear dependent on size. You know this is happening as the buying pressure doesnt shift the MMS. The mid remains the same. The trades are usually shown out of hours, or even the day after.

Most of the "sells" this morning were buys as the MMS hadnt moved correctly into position so the mid price was not a true reflection. The computer works on an algorithm and simply posts what it believes to be a buy or sell based on that mid price and the correct spread.

It could be that a short is being closed when you see the 500k buys and the 500k Sells facing off against each other. Either way, sit back and wait for this to get to its real valuation, which is mush higher than the current price

San

Mav. I dont believe there is any additional information here. The majority of the post is opinion and nothing new can be garnered from his post. Its his intepretation of how he sees the future dilution, potential sell off of newly acquired shares, time to mine, delay on license agreements. GGG clearly has knowledge of market mechanics and mining, but they are all his opinion. Good to hear from others, but for every point made, there is a complete counterargument.

San

Thats not entirely true. The market doesnt move to what it thinks the value is. I was invested in GGP when it bought Havieron and then pumped to 1.2b mcap when it was nowhere near production. They were at the drill exploration stage around the breccia and its surrounding area, and had recently signed a JV with Newcrest. Newcrest had actually taken 70% ownership on the back of a 60 million investment so they had lost significant overall value. These Penny stocks are driven by sentiment and usually a handful of people with deep pockets. If you can work out the level of dilution and the pattern of movement then you can work out what you need to do (and how much) to move the share price in your favour. Usually this takes a 10-20% scalp. The deal was the best possible outcome without significant dilution immediately.

With regard to the length to production, i agree with that if a significant drilling programme is required. However, this doesnt discount any surface material and tailings that could start within 12 months. Eitherway, the big thing here is that the mcap doesnt reflect the current potential resource and any acceptable PE ratio (Potential earnings in this case) imo.

San

No news on funding yet?

San