Member Info for ShouldveSold

I think its one thing to say you disagree with my opinion but to take the stance of "calling out inaccuracies" suggests your are defending the company and or trying to protect anyone from reading this debate.

If feels like you are the self appointed voluntary company secretary or commercial director here.
Can we just take a step back and be less confrontational?

We both want the company to produce gold and graphite with productions licences.
I am frustrated with how long that is taking and the SP being pegged. You are happy with it.

As for unsubstantiated statements, those are my opinions which I am free to post here.

So what are you & I disagreeing on? What have I said which has caused you to take such a defensive position?

Yanis I wasn't referring to you personally moreso to Elir. Dude came at me like some kind of guard dog.

Yanis I have no intention to butt heads with anyone on this BB.
I don't know how much gold is currently being extracted from the sampling phases, royalty free or not; my point being, Alba is unable to run the kind of yardage to enable a profitable return until it gains a licence/s to do so.

I understand that until that time, all Alba can do is explore to prove up the asset value in hopes for when licence are granted, they can hit the ground running.
My concern is GF seems content to explore till the cows come home rather than being focused on production.
Has a application date even been mentioned or production date forecasted?

Its pretty clear to me that the way Alba becomes cash generative & eventually profitable is with a production licence.
For everyone invested here who is frustrated at the SP inability to break higher, the reason is clear.
GF get your finger out, get a production licence granted. Start production gold & that income can fund further exploration here & in Greenland.
Spending the next 12-18months exploring will not increase the SP.

Elir how I appear on here is of no concern of mine. Perhaps you speak for everyone here and see yourself as the gatekeeper.

If you feel as thoughI have said anything false or inaccurate by all means call me out.
I am free to debate my opinion on the stock.
Every month like clockwork, sometimes twice a month, warrants are excised. That would give an indicate as to the cash burn rate.
Whether that cash received is going into directors pockets to services provided or company accounts for capex, I don't know. But I can add 2 & 2 together. And looking at the SP movements over the past 6months, with advancements of projects and no income being generated, its not hard to correlate.
I see you are a numbers kind of person and unless you have actual figures to refer to, you are unable to entertain extrapolations or engage in debate.
Since you are a numbers guy, perhaps you have calculated the sales generated so far to see if it indeed covers capex.

I bring this back to my only point. Until the company is granted production licences, in my opinion the SP can only remain range bound.
Personally I would like the SP to increase 5x  but you appear to take issue with me wanting the company to gain those productions licences to enable to SP to do so.

Lol righty oh
Apologies if you feel as though I have insulted your stock.
I made sure in included this sentence in my post to you "Notwithstanding the permitted sales of sampling produced."

When a company has no cash generative income, cash can only come from institutional funding, loan notes or placings.
To infer gold exploration is not expensive is navie. Unless the chaps are doing it with pick axes, buckets and canaries.

Elir71 until Alba apply for or get issued a full production licence & permission to re-commision the old mine, all they have is exploration licences. This basically equals lots of capex with no cash generative sales return permitted. Notwithstanding the permitted sales of sampling produced.

I expect the cash burn rate is quite high which will ultimately require many more placings to fund the continued exploration & expansion of exploration areas, manpower & equipment costs.
Alba's SP could still be at this level in 2024 if no production licences are granted.

I expect a new trading range below the current one will now establish itself until the HE1 results are in.

Lol
*FacePalm*

Cperkin from the information I was able to find, Scir had enough cash in the bank to cover the 2020 work programme, no information about 2021 going forward.
Whether CH1 has been pre-paid or those funds are pre-allocated or not, I can't find that statement.
I would be grateful if you could either quote an extract or provide a link or search for me to access that information.

HE1 drill results may indeed provide the funding source for 2021 projects.

Gibbo I agree that becoming emotionally invested breaks the rules & also clouds judgement. It also causes some LTH investors who can't see the trap to continue to keep investing money in hopes for a breakeven through averaging down.
Ultimately this causes one to double one's initial losses.

In respect to the BOD investing their own money, I think this is also a result of one becoming emotionally attached. The BOD are employee's, not private investors. They are under no obligation to buy shares with their salary; as in to "work for the love of the company" & to own a piece of what they should love.

L.K took production to 870bpd, peaking over 1000bpd. Whatever anyones view is of his tenure, in my opinion his plan was working. It wasn't without issues along the way but he did grow the company & increase production albeit temporarily.
He did drop the ball at the last minute, whether the merger was his brainchild or not, he did champion it, then disappeared. I still have unanswered questions about it but have accepted I won't ever get the answers.
But he did lay the foundation on what BPC are now building on.

In my opinion this is now a bottom drawer stock. I can only hope that at some point, even if that is in 2024, I will get a chance to exit with 75% of my investment back and walk away before its all wagered on a Uruguay roulette spin.

SP back down to its appropriate valuation. For the few who believe SCIR is undervalued, evidently this is where the market values Scir.
We are now approaching 3 months since the CEO intimated a deal was in the works. Its feeling more like that announcement was to quell investor unrest rather than a deal close to being completed.

6 months into this new company direction with the forecast of generating cash flow of £20M by year 3, so far... nothing to see here.
It would be nice to know how much this rebranding & new company diversification cost & how much cash the company currently has to do any deals. Or whether any potential deal will be funded the NR way: take investor money & buy a liability.
We may have to only wait another 6 weeks for the half year update for news.

I read an old Proactive news story that said first gas from Ruvuma was projected in 2024.
Its a bitter pill to swallow if that's how long we have to wait for a possible SP movement of sustainable value & ROI.

It would be nice if the HE1 drill comes up trumps & we get a snakes & ladders upside effect. If I get close to a break even point on the back of those results, I am running for the hills.

Look at Bully becoming the newly respected member of this BB
:,)

Parpaing by all means, continue to wallow if that's what feels right to you.

Parpaing I believe that discussion has reached its conclusion in that BPC has declared a name change and statement saying it no longer views the Bahamas as a priority.
If a Farm In/Out miraculously comes, so be it. But if one doesn't, the licence will be dropped.
I think its unproductive for you to focus on things that have no meaning any more. But if its preventing you from sleeping then perhaps you could email the company secretary with your concerns.

Parpaing I don't understand why everyone can't refer to Starchild by his actual username, has he ever disrespected you to the point where you feel its proportionate?

As for the incident aboard the drillship, whether it was an equipment failure or human error by a Stena employee/s. The bill for completed works needs to be settled.
I am sure the discussion must have occurred at the time on whether to keep drilling around then piece of steel, how much it would cost and who would be liable.
I don't know how niche the offshore drill sector is but it appears to be a highly skilled sector with very few players.
One could take the view that depending on how BPC string this out, they could be blacklisted by the sector and not get another drillship for Uruguay.

Evidently a few still hold the opinion that the oil discovery is still there at the P#1 location but just at a lower depth.

Bully I'm not here to police what people post. On an ideal BB we could all get along, post our views & debate points without getting personal.
I understand many have lost so much money here that it is now personal to them as they have become emotionally invested, lost objectivity & feel the need to assign blame to anyone who calls it how it is.

Bully as much as you are viewed as the villain on this bb, I think you have a wealth of a knowledge & trading experience that can add substance & balance here.
I wish your delivery was sculpted more towards insightful educating rather than using a sledgehammer to demolish opposing views & opinions.
That being said if no one posted outlandish views there would be no need for a sledgehammer.

Lol I disagree. NR was even worse than DL in my opinion.
Being as the market no longer knows how much equity Scir still holds in HE1, I don't think we will get similar SP movements. It would be nice to get a company update, even a tweet.