Member Info for shamI89

I like Darren though he is proactive and honest. Mine has three years left and he is trying to extend mine life through exploration and as an "option B" has acquired new assets.There are two possible scenarios Mine life does not get extended and Darren develops these new assets which are ready to produce after three years.Mine line gets extended by a year or two and they also have built and developed new assets.Both of these scenarios bode well but time will tell.

Let shareprice do the talking.Quarterly results are not great but it has given me a chance to increase my holding at current levels.I am adding whatever I can as market cant ignore level of cash this company is throwing.Debt free by H1 2024 or ealier.

Major shareholders have probably made some money as there is no way they paid full price when they bought the debt.

I came across this company in 2017 and after first gold pour there were multiple setbacks.Quarterly prodution lingered along 10/12k ounces which barely covered operational costs.But since Darren took over they have paid down nearly all of debt which stood at 135 millions and have doubled the production.Darren has technical expertise to take it forward and mind you they spent 150 millions on this plant.

Market would not be able to ignore it any longer.I am adding whatever I could around these levels.In my opinion current mine still has three years of production left and they have acquired new assets as well.

They have already tried once and failed.This company will be throwing off 80 millions in a year.Lets see what darren decides to do with this cash

It is pointless arguing over shortterm price actions,company will build up cash reserves and market would act accordingly.They have already bought some assets and would have enough money to invest as they go along.

Neil is here wonder when he turns from uber negative to uber positive and vise verca

But buisness is in real brown stuff. They should have brought in some fresh blood with fresh ideas to modernise this brand.

How else do you want me to back these up, when they had tried to take it private in 2010 and tried to impose debt to equity swap on shareholders not so long ago.

I dont know I would rather let Darren run this.But some of people have been here for well over 20 years.

They can take it private cheaply.

Yes 90% of these shares are held by institutional investors and some major shareholders like Candy brothers and couple of others hold 70% between them.Candy brothers had tried to take in private in 2010.They bought most of debt and not only charged extortionate interest rate but wanted to wipe out other shareholders too by imposing debt to equity swap at one point.

This whole system cost them 150 millions if I remember correctly but I have faith in Darren.It is all about building the cash reserves now and lets see how far can it go.They are buying some more assets as well.Whatever way you look at it numbers look really good.I am slightly concerned about major shareholders but company is in a really good position as far as production and cash generation is concerned.

I am buying whatever I can at the mintue and building up nice holding.Debt will be paid soon and company would start building cash reserves from there.This company was about to go bankrupt and Darren has turned it around.So lets see how it goes from here.

I do think that brand has some value but dont think buisness can survive like this.Brand may have loyal middle aged customers but has failed to attract young customers.

Horrendous results as looks like they would burn through cash balance in 6 months or so at this rate.

Darren is one of 0.5% of CEOs of aim companies who underpromised and over-delivered.From March market would not be able to ignore the cash it is generating and would rate it accordingly.

I am sitting on nice tidy profit, like the magement as DB has really turned it around.I have been buying whatever I could and would add more in July.

I am not disputing that but can this oil be distracted economically is another question.Right now creditors hold the card and even if asset have some value it will be sold to pay off creditors first and shareholders wont get anything.