Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
LiH, I totally agree.
And, continuing the latin theme, I think (especially when it comes to the likes of Little Nige and his friend Redbox) I can sometimes help to be reminded of the maxim illegitimi non carborundum.
I look forward to PRD's continued advance forward. Well done the team.
Some negative energy has entered of late this BB, for whatever reason.
I think that not helpful.
We have some very clever people here and the information or insights they contribute is nothing less tan huge in its value.
Some idiots chased GRH away from this BB. That, in my view, was a serious step backwards.
I reserve my views on the contribution to humanity that LochNez represents. Though it would hardly be a secret that they may not tend to the favourable.
Without LochNez, Little Nige and Redbox, there would be much less pressure on the sewage infrastructure.
And for any that may wonder about the timing of this post, I am right out in the (sadly former) colonies in Africa and it is early morning with the sun shining.
And Eddie Jones has been kicked out, thank God.
Happy dayss.
Porters,
Who knows waht the SP will do in the short term.
It matters little in the context of VALUE.
And even posters as brilliant as KeithOz (whose posts here are of value beyond measure) can get their SP predictions wrong.
That matters not. His posts are nothing short of brilliant and his short term predictions on SP may not have been spot-on (it is always a challenge for sheep dogs herding sheep with the brains of little Nige and Redbox) but his assessment of VALUE is so well thought through that it certainly bears very deep consideration.
Porters,
I have never opined on what the SP could or should be.
Que sera, sera.
I think the SP may be irrelevant if, as I would hope we do, the special dividend route is chosen.
But I have been very clear in my view that the current SP is way, way south of true VALUE,
I have my own quantification of what that arbitrage may be but I tend the great GRH may not be far off the mark in his Michael Caine stuff.
And Methodology and Wacky and Seabright and others have also contributed very significantly to the discourse on what the VALUE might be.
HTB,
I am not sure who your post was aimed at.
for the record, I am extremely aware of mental health issues and that we need as a society to be extremely aware of the challenges this situation causes to many people, including many who appear totally "normal" but who are still suffering deep pain, albeit hidden.
Mental health issues are one of the greatest challenges of our time and the most important message to get across there is "you are not alone".
I would, of course, prefer that the SP be higher.
But, as the excellent BRV observed, it is all just noise.
A barometer indicates the weather at any given moment. It does not give a measure of the structure and stability of the ship or the destination (VALUE). Or the calibre of the leadership (in this case, PG and Lonny).
And on any good ship, there is always the possibility that there are some Fletcher Christians. Obviously, we have our own real special versions from Comedy Central in Little Nige, his squeaky little friend Redbox and then there is Pasta Belly - but I am not sure even his odious friends take him seriously any more).
There is so much VALUE here.
There is, of course, risk. Maybe lots of risk. But risk must always be viewed in the context of the potential VALUE.
Which VALUE, in this case, could be immense.
For those that worry about the daily SP (which is somewhat understandable), you need to think whether you are watching the barometer or the compass.
I am here for the compass - and, thus, the destination, VALUE.
Wll done AGD,
Thankfully, we are seeing a return to civility and gentleness on this BB, which is, for the most part, really, really good and insightful and sometimes funny and charming as well.
I too think Jimmy has improved his comms style and has really shown himself to know a lot about what he is saying. I am not clever enough to know if he is right on the geological stuff but some of the very clever boys here seem to rate him highly enough to seriously engage (in a very good way).
We unfortunately lost a great one in GRH, but we kept some other greats (Methodology, KeithOz, Seabright, TT-, Wacky - there are quite a few) and now seem to have added Jimmy to that list.
I, for one, am really grateful for the insights these posters give to this BB, notwithstanding an occasional howl from the peanut gallery.
Morning Androcles,
Thank, much appreciated. You have a good weekend.
Most of us are actually on the same side, believing PRD can and will come home - in the full realisation that there are risks it may not not.
we have weighed the upside versus the risks and have taken appropriate positions relative to whatever our own risk appetite/liquidity situation is at the time.
We're all big boys and girls and those that seem to fret overly on our behalf should perhaps find something else to do with their time.
The chances of judicial review are infinitesmally negligible in this situation.
The concept was originated by Lord Denning in Britain to get round the problem of unelected operatives (local authorities, etc) making such transparently stupid decisions that no sane person could have come to the conclusion and decision they did (which remains, put simply, the test).
The courts are extremely reluctant to apply judicial review to decisions made by elected officials, especially government ministers - it would represent a grave danger of judicial over-reach.
Ryan is clearly a Muppet and that is unfortunate for us at the moment. But the commercial and political reality of a winter with power outages is much more likely to aid our (PRD's) cause than judicial review, which would get us nowhere apart from lining a few barristers' pockets.
I know the Ireland situation is much less rational - dependent largely on political whim - than Morocco - dependent on geological and logistical realities - but I remain positive, maybe even very positive, on its eventual outcome.
But, before the usual crew of mewling kittens start yelling, I have no attributed no VALUE to the Ireland assets in my calculus as to why I hold a pretty decent slug of PRD stock, though I believe it be there, possibly in bucketloads.
Obviously, there are some irritating idiots on the BB, but the share quality of posting, particularly from a technical perspective, has been extraordinarily good of late.
I am myself not an O&G guy really (this investment is way out of my normal comfort zone from a sector perspective), still less a geologist, but I would very much echo Vegas's comment that I am very appreciative of the opportunity to learn new stuff on here from some posters who clearly have a very deep understanding of what they are talking about.
To those posters (KeithOz, Jimmy, Methodology, TT-T, etc), thank you for the time and effort you put in here.
Have a good weekend,all.
CharlotteB,
I have never opined on what the SP could be.
Though I believe the current SP to be way, way south of the true VALUE.
Some of the positive assessments by certain posters seem to me to have considerable merit based on fact and do not seem to me to be "ramping" at all, whether they may be right or wrong.
Jimmy23 also throws in some reality checks from time to time - but his stuff is excellent quality and he is clearly a very smart chap.
You, on the other hand, seem to be professionally miserable and should join some kind of self-support group with little Nige and his friend, Redbox.
KeithOz,
You were not the only one surprised by the fall below 10p.
It is weather on the journey as we track towards VALUE and I suspect MEM may not be too far wrong (MEM - we may be flying through the ITCZ at the moment but there is clear air ahead).
I think the next few weeks on PRD could be quite fun.
CharlotteB,
Your postings area bit strange. There seems to be occasional moments of sanity but much of the rest is difficult to decipher.
I take my own views based on my own research, knowledge and experience.
And I pay lots of attention to those whose postings I find very valuable (GRH, KeithOz, Seabright, Wacky, MickTrick, T-T, etc)..
You seem to sow doubt on the various BB's you frequent - I only am aware of you because you are a poster on both PRD and PANR.
On both of which you are an enthusiastic disseminator of negative stuff.
All of which is fine - but why then hold the stock if you are so concerned about it?
Razorman, I am delighted that you have moved up to the nearly 4m shares mark - it is always good when decent blocs are held in the hands of people who seemingly have brains.
I suspect the greatest VALUE her can be crystallised via a set of separate asset sales, rather than through a sale of the company as a whole.
Basically, in my view, the SOTP (Sum of the Parts) VALUE significantly exceeds what might be paid for the thing as a whole (where we could have blancmange effect).
I cannot give anything other than my own opinion - PG will do as he sees best.
And so far, he seems to have done a mighty fine job.
I am a long term passenger on the good ship PRD and think very highly of what PG has achieved on a tiny capital base.
I think what he has achieved has been nothing short of extraordinary. Shackleton-esque in scale/
There are some idiots on any BB and we have a few of our own (some real prize turkeys - and, judging from little Nige's post today, some survived Thanksgiving yesterday).
But there are some great ones here too.
Echidna's eggs from MickTrick has to be right up there with some of the best quips here.
So good to see some of the old wit and banter return to this BB, even though the Muppets chased GRH away.
I think this ship is really entering the home strait.
Well deserved! - to PG and LB and all those that held the course.
Have a good weekend all.
I spent much of my career defending against hostile takeovers.
There is ZERO chance of a hostile succeeding here if PG and LB don't want it to.
They may not have enough shares to legally block any such attempt but commercial reality will always prevail and without their support and endorsement, any takeover would run huge risk (to the point that I believe no-one would even attempt it).
And though they may not have enough shares to block, I am pretty sure that there are enough other shares in "hard hands" (even titanium hands) to ward off unwanted attention.
PG and LB hold all the aces here.
I like that.
Mirasol,
Anyone trying to fix this mess does not even need to get to 51%. CAF have 3 out of the 8 directors. The leadership crew (Chairman, CEO, CFO) have 3 votes. And there are 2 independent non execs. So, a motion to remove the 3 deadbeats (chairman, CEO and CFO) would surely pass, given their obvious record of abysmal mismanagement of this company.
senseman has pointed out I am a non shareholder now. True. But I was. I sold out because of the useless leadership team. If I thought that would change, I would come back in - but only at the right price.
And I think the current SP is somewhat above the right price.
I might be a buyer at 6.5-7p.
I am just a tiny player so pay no attention whatever to that opinion.
Except that I do know that some possibly interested bidders are of like mind.