Member Info for slowlyslowly

Mark Kleinmann is very good and only posts these things when he's sure.

The important thing here is that, as the details of this come out, this signals the beginning of the end not the actual end. If we get a binding offer at last that the board can recommend, that sets a floor for the share price not a ceiling. It then goes into offer period with lots of 8.3 and 8.5 RNS, and other parties are able to make their own bids right up to the point it goes through.

Strap in.

Chris, the bank finance for Tulu Kapi is project-level, so is only available to spend on that one project. It's also not been legally closed yet, so that funding isn't yet available. Kefi needs money at the Plc level if they are to keep paying their share of the exploration and development costs in Saudi Arabia.

How do you know the holes they've drilled in the KCB are dusters, given the company hasn't announced the results yet? Do you have inside information? If so, I wouldn't post it on a bulletin board.

It is, unless I got scammed on the stamp duty I've been charged at different points over the past few years.

Agree on the "all cash" bit. I'm in EBOX because of a quite distinctive combination of factors that means it's the REIT that fills that particular gap in my portfolio. There will be other property funds that are a good replacement, but I've no interest in Segro. That's all just me, but I'd much rather have cash back to deploy as I choose, than to be promised shares in some other random REIT that may or may not be what I'm after, and the value of which won't stay static until the deal closes.

I can't read the article (don't have an account on the website), but: https://greenstreetnews.com/article/suitor-readies-rival-bid-for-tritax-eurobox/

Looking at the photos, it seems the intersections include 2cm at 75% copper and 25% nickel.

Yes, Neil is spot on to say the revenues will be sooner than 3 years. Because those forecasts are for US Cizzle Bio, the money they pay to Cizzle PLC in the form of royalties are on their expense side - our revenues are an expense to them. That starts to appear much sooner than their probability. But if they become super profitable as forecast, we still benefit because of the 10% we own.

Did I hear my name?

Happily, Kavango isn't showing any interest in riverbed alluvial mining, so it won't directly affect us. I can't work out whether any knock-on effects on small scale panners would be positive or negative for Kavango; I'd imagine it'll make very little difference if any.

I think you might mean ominous rather than anonymous. ;-)

He may hope to work with Trident's shareholders again. For my money, I feel that Adam and the board sold us out on the cheap here, and it's cost them the credibility they'd built up that they were invested for the longterm and had shareholders' best interests. I'll remember the names.

The announcement will be after the meetings. The deadline for proxy voting has closed, but those attending the meeting can vote in person, and officially those who used a proxy have their proxy cast their votes at the meeting. So they cannot announce a result until after the meetings take place.

Yes, this has to be one of the biggest mismatches there is between the share price and the actual company's prospects. A lot of the negative comments are people (justifiably) fed up with the share price. But it's that very gap that makes this such an opportunity. It may be undervalued at the moment, largely because of a couple of large forced sellers, but that doesn't mean it will stay undervalued - eventually it should return to a market cap that better reflects the company and its progress.

Thanks for explaining - that all makes sense

Just for clarity. Marc's geological services company is Specialist Exploration Services (Scotland) Ltd. Emerald Geological Services is Bruce MacLachlan (another geologist with quite the track record behind him). Hence my observation that they don't just use one firm. They have to declare the amount paid to SES specifically because Marc is a director of First Class, but as PuseRuse just said I'm sure they'd pay more if they used another firm instead. But the fact they have to declare it draws attention to the number, and gives those with an underhand an agenda the excuse to add the £180k to his salary and pretend he's paid far more than he is and so to paint the company as a lifestyle outlet that just pays its insiders the maximum it can. £50k is actually pretty modest for a CEO, and boy does he work hard for it.

On the share lending, not only did he not take a fee for doing so, they're also not underwritten in any way.

The discussion has moved on. This started by someone saying that Marc is paid far too much at £230k. My point was that his salary is only £50k, and the other £180k is fees for geological services. Now, whether you think he's the best geologist to be working this (and he's not the only firm they've retained and are using) is a separate debate. I occasionally see people saying Marc is a great geologist but doesn't do a good job as a CEO - I completely disagree. But I'd suggest that if someone thinks he's a poor geologist then they this isn't the company for them to invest in.

But all of that has moved far on from the original point: Marc's salary is actually very modest for the hard work he does.

Marc's salary is about £50k. His geological exploration firm is then paid fees of £180k during the previous financial year for geology work done. If his firm hadn't done that work, another firm would for a very similar payment. By instructing a geology consultancy that is tied into the business, rather than that fee and the work going elsewhere, they've help ensure alignment of interests.

It's just reporting the AGM result, it seems - not sure it tells us anything new. Unless I've missed something in which case please join the dots.