Member Info for SirGBoycott

How is it LCs fault

Got a few meeting to attend so will plough through the rest of the response later

Remember this from Jan 2018 about the Green Diamond

"All of the 17 till samples contained concentrations of KIMs. One sample, which was collected at a depth of 4.6 metres, showed such exceptionally high levels (98 KIMs) that it may have been taken close to or even above the kimberlite source of the diamond."

18 months on and how much closer are we. Metres away we were ...... remember that our BoD have all the relevant expertise etc ...... perhaps we are not drilling in the right places.

"Your Board does not believe that the current share price in any way reflects the value of your Company’s assets and, in particular, the known potential of the Lahtojoki diamond deposit."

I think we have found something both parties agree on!

"The Company’s share price is currently at a low level. "

It was an an ALL TIME low until the EGM was requisitioned.

On the subject of Finance - lets think about why four people with significant industry / business experience (you can google that yourself) would invest a significant amount of their time and money to take this action if they didn't have a clear plan and access to Finance.

"Paragon Diamonds"

I havent got the time to go through all the previous companies various members of the BoD have been involved in but I'm sure they have all been a rip roaring success .... CGNR springs to mind

"The other two proposed directors, Stephen Grimmer and Martin Doyle, do have considerable experience in the diamond industry and are well aware of the value of the Company’s assets. In particular, Stephen Grimmer is a former consultant/employee of the Company, working as a geologist, and he had signed a confidentiality agreement."

So why has the company not retained his services?

"This demonstrates an absence of understanding of kimberlite evaluation linked with adequate funding of the Lahtojoki diamond deposit, or of the diamond junior company market place that has evolved and changed significantly over the last five years."

What funding or plans to fund does the current BoD have for lahtojoki

"no budgets or timeline for an evaluation programme that requires world-class and industry-standard methodology."

Please could the exisiting BoD demonstrate or show the budget they have for such an evaluation programme

"These proposed directors have to date put forward no descriptive technical proposals, supporting documentation or persuasive evidence of how they expect to finance or procure financing to support a meaningful sampling programme."

Neither have the existing BoD.
At least this BoD would reduce salary costs.
Sampling programme???? Surely we ust be looking at a drilling programme for lahatjoki

 10 August 2016
A phased approach is planned, which will include re-modelling the diamondiferous pipe using the latest understanding of kimberlite processes. This work, together with a re-assessment of the microdiamond data available, will allow the Company to target locations for any further drilling that may be required and for bulk sampling. This next stage is expected to take up to 12 months.

"Accordingly, these individuals do not have a track record of successfully managing and operating junior exploration companies to exploration success"

Past success is no guarantee to future success. KDR and CGNR performance to date is not what most would consider a 'success'

"It is the Board’s view that the stated strategy of the requisitionists does not propose anything that is compelling or significantly different to that already adopted by the Company. They are basically using the Company’s own playbook"

I do'nt think anyone is critical of the strategy per se - shareholder value / first diamond mine etc - its the execution of that strategy which seems to focus on doing nothing to advance Lahtojoki or at best minimal progress in 3 years. Its also a complete lack of communication on how its going to be achieved

Sorry I was referring to par value or Celiling

JD I'd be surprised if there weren't any resolutions around ceiling / share issues. Even if they have no plans today to use them or need them then its prudent to have the option in the bank so to speak. We shall see. I agree with your thoughts re the 5.25p as the floor.

However, we did issue shares in lieu of services recently albeit at 1.5p. Preferable to a placing but perhaps a placing wasn't possible with the current ceiling. The SP has only been above 1.3p recently for no more than 4 weeks continually.

I think a placing has been as imminent here recently as much as the SML was imminent in the past. We all see what we want to see.

That said we will need cash / funds from somewhere

One post a day for the last 30 days all on the same stock with broadly the same message ..... you be careful Jax we are automating people like you where I work with robotics and AI. You'll be out of a job before LC is ......

Little acorns and all that .... lets hope we can build on this

Good God the hyprocrasy of that statement is mind bending ... you are the only one that feels they were misled and the only one that has misled everyone else

https://www.energy-storage.news/news/100mw-pv-plus-storage-feasibility-study-for-mozambique-airport-project-back

Looks like Mozambique is keen on battery power

JD I think that's a fair guess. You might also find this of interest

https://www.munichre.com/en/media-relations/publications/press-releases/2019/2019-03-07-press-release/index.html

Although there is a lot of emphasis on engaging ESS for the three main projects initially you cant help but see a potential synergy with MED / MAST plus the UK ESS market is growing

https://www.energy-storage.news/blogs/uks-evolving-business-models-likely-to-take-installed-base-above-1.2gw-this

Anyone interested might want to compare ESS inc backed by BASF and their position in this emerging space compared to GridX and NCCL. Interesting that both companies in Moz and coal are linked to battery storage solutions.