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Yep I know you like very low debt profiles Wasa....
As you probably recall. My erstwhile Cu play has had some fantastic grades, nice improving turnaround volumes.... All as I expected.
But some rubbish debt management and incompetent financial directors. That's scuppered it for now. The resource quality may come to it's rescue. But with better financial control it would have ended up a tap in....
So yeah. We always learn, and your mantra on low monies owed and controlling the cash flow is something I need to pay more attention too. Hands up there!
Hi Wasa.
Thanks for the summary.
It did seem to have fallen from favour purely on the SP. But also the delivery side as you have outlined.
I think Gold is still a pretty decent place to be mid term in the world today. So keeping tabs on a few.
Sounds like GRL need a bit of luck and some stronger outputs and it may be a temp low?
Looking at a few other miner/explorers in commodity metals. I may be totally wrong. But just get the impression that things may be starting to turn a bit. After a very poor year.
Regards.
Hi Rover.
Can I ask when results are due please, and any expectations?
I have been keeping an eye on a few gold areas in light of that current macro. This is still one.
I too had a small amount (about 250,000) shares here a few years back. Price moved up from my 6p odd but in, to about 11p then. But have to admit I moved on then to what I saw as a strong Cu play for the longer term (don't ask.... Work in progress :-s ).
I wasn't surprised later to see this go to 14 odd. But since then it's really badly pulled back clearly. So maybe an opportunity still... Maybe?
I assume this one is partly the market malaise in this sector. But from scan reading a few recent posts also looks like the management here ( who tbh I was always a bit weary off rightly or wrongly?) Seem to have become if anything a bit more opaque - if I read it right?
Anyhow. Just interested if this one has what it takes, or if it's troubles are more self inflicted and the view is that this will continue?
Cheers.
Thanks @pea.
Interesting info on the balance sheet. Indeed.
Makes you wonder if the new CFO is setting up conditions for the refinance?
Let's see if the wider picture gets briefed out in 2022, or we wait on till next year....
Thanks.
@Car.
Nice idea. A small tip. When your time machine reaches around Xmas Eve 2020, with your position built.
When an MM offers you a Bid of 37.6p for a Million of your shares ......
Don't do what I did, and pause on the 15 second click and reject it. Believing that there is plenty more to run in 2021....
;-)
Hi Free.
Just reading the last RNS said. Forward Sale. Was unsure if there were subtle differences to a Hedge?
Not an expert on the subtle ways that this may differ. If you can clarify that's great.
Cheers.
@broker1
Of course your right. He isn't worth the effort.
He has clearly been a swing trader here. Nothing wrong with that. Invest longer term, or trade the ups and downs if you have that skill. NP with the latter. Can't do it myself, as always time it wrong tbh. But each to their own.
No. My issue is with duplicitous people. Of which Moon is a classic example. In real life I don't like them. So why should people be accepted on these boards for it?
Ergo: He spent a year when I was first invested here ramping the daylights out of this stock. Clearly building a position and looking to sell it off. He then spent a year de-ramping. Clearly looking to talk it down as low as possible and get a rinse n repeat.
Unfortunately the technical progress - the bit Brad is good at! Threw a bit of a spanner in Moon's works.... as the SP stabilised around the low 20s. With good prospects on the back of the mining turnaround progress to go north.
Moon then got lucky! Lucky that the aspect TB has been proven hopeless at bit us... The Zippo financial control. The SP crashed after that infamous RNS, and Moon, now with funds from his two faced actions previous can now boldly tell us that 3p is a good price, and to hell with the past investors.... No s*it Sherlock....!
Having seen his Chicken video. It's probably a good thing for him that this is virtual. As a 6ft 4 inch, 15stone ex Rugby centre. I would have to display a strong degree of self control if we do ever meet I fear. :-)
Anyhow, as said yesterday. Let's hope the pseudo hedging being announced is followed by the overall financial plan from the new CFO. Resourse is still good here I believe. But without proper management it maybe someone else that benefits. I hope not.
Cheers.
Nowt to say then Moon... Makes a change!
That's a shock, as my hopes for clarity and an answer to specific question weren't high....
Thanks for confirming exactly what you are.
So when asked direct questions. Questions you will have to answer to later..... Why ignore, if you are "honest"?
So go on:
How many do you hold?
What average?
What price, and when will this reopen. If, as you say it's in such great shape?
Will they raise, if so how much?
Prove you actually know things, don't just talk your book, and speak in general riddles.....
I dare you...
Fantastic Loon that those that got in at 3p, or.... "a bit higher" will do well....
Nice if those that bought in over the last 3 years at 20p, 30p or 40p should be equally treated by a CEO that has as much responsibility to them ....
As a one time Uber Ramper here at those levels a couple of years ago .......
You seem to have now cut them adrift.....
You really are a disengenuous individual .....
Given that nothing much will be sent out in Xmas week.
The fact that; following the finance RNS on 9/9. We have seen only a couple of perfunctory RNS pertaining to the financial issue progress at the end of October and on Nov 1st. Neither giving much if any useful information.
I would hope that after coming up to a full Q on from the first briefing. Share holders are by now due a more detailed progress update.
If we see nothing in the next 2 weeks. They it's mid January at the earliest. Which would make it 4 months on from that Killer RNS.
TB seems very unlikely now to fall on his sword one assumes. So he therefore very much owes those owning shares in his company an explanation of the status of his and the new CFOs plans I would suggest.... & soon, to my mind at least.
Regards.
I am chilled here Amtech.
You are vexed.... Daily and repeatedly....
If you don't like it, and you see no future... The door is always available. Take it.
To continue to whine daily is not doing your mental health any favours. Use your analytical skills to build elsewhere would be my advice.
No more from me..... As sure you will want the last word.... :-s
I hope and think Rover, that a 3.3 AVG will stand you well in years to come.
;-)
Yep, frustrating Rover. Relative newcomer. Only a year invested.
But am prepared to give them time. Wasa says he has spoken to MB, and he is committed. That's a decent recommend in my book. Plus current situation world wise is exceptional no doubt n don't help.
I have had great luck on AIM. Total s*it, and most all inbetween. But this one feels like a sleeper..... Quite literally.... :-s
Let's see. If you can park cash here for a couple years. Then it may work out well.
If you want a fast 10% this probably isn't your baby....
Am prepared to wait it out for now.
Strikes me personally. That this is a share you either believe that it's got a resource/potentisl that's worth waiting for.
Or conversely you feel that the management isn't up to exploiting the situation (ever), nor working with the tough macro head winds, that they are not likely to have the suss to deal with the African political drags then....
Clearly both views have their supporters. It's perfectly fair to point out (for example), the radio silence with this share, and that's frustrating to all, of course.
Personally. I have acquired a medium sized position (for me), and see it as a (semi) educated punt still tbh. But like all of AIM still a wait and see agreed.
I believe that if/when it starts to move forward though. Then the prices I have bought at, 4s, 3s, 2s & 1s. Will, in a couple of years look a very decent investing range.
If on the other hand, and like the large majority of AIM "wishing" companies. They aren't up to it.... Then it will turn out a bum steer. I will have to accept that.
I can't tell as yet tbh. But I am at least considering now, that if this fails it won't be for the usual AIM "lifestyle" BOD to upgrade their Porsche'. Nor for I think dishonestly juggling the books as I have also experienced.
That's just my take, and why I remain invested, and adding a little as and when down at these price ranges.
The regular negative posts here I find a little odd. If people have so little faith in the current line management. Then by all means say it. It's a free bulliten board. But if there really is nothing positive to this one. Why not justmove on?
Or at least await a worthwhile piece of news to vent your spleen.... Or maybe even after that, admit it's got some legs.
Some "investors" seem to have too much time on their hands, that if they have so little confidence here. Would surely be better spent trying to make some monies elsewhere.
Just my thoughts.
No Free.
Just was looking at something else. Noticed the spread here, so just did a bit of testing out.
As said lots to go to get back where we were even 18 months ago.... Offered 9.98p old to sell 1M.... Refused it of course..... Doah...
But let's see....
Cheers.
Moon doesn't do specifics. That way however it rolls he can claim he is right. That's his modus operandi for 2 plus years. Won't change now.
He's irrelevant anyhow. The only thing that matters is what deal (or no deal) brings us out of suspension, and on what (if any terms).
For those still invested it's a wait till then. For those not... Well no idea why they would waste breath posting if not engaged still.....
Earlier today with the spread at a defensively wide 114 - 119.
The MMs on a test sell would take 40k shares off me at the lowest bid of 114.
The spread has tightened a few minutes ago to 118-119.
Normally that means they would refuse my 40k sell query. But in fact they offered me the full Ask of 119p to actually sell 50k shares ?
I am not interested in selling any down at these low levels. But it's interesting that the market makers seem to have buyers, or a volune buyer, such that they will give me that full offer price to actually sell now.....
Just been looking at other shares in my PF. But came across this anomolie on a few test trades, & thought it may be of interest.
The SP needs to re coup an awful lot before selling properly interests me personally. But at least presently it's moving in the right direction.....
Truth is we both want ROCK to do something worthwhile, and the dire SP track record to reverse, agreed.
But personally I find it rather strange that the two Cu prospects that were so heavily plugged by many Am Geo types (as well as the management here). Has come to so little in the last 2 years..... Nevermind the original Au find.
The Cu grades were very poor, the then lower drilling touted pretty much ignored, and the second prospect not seeming worth following up despite Cu being a likely big selling point?
Again, & when some of us commented on the above we were shouted down. No no, the low grades are fine if on enough volume and Open Pit.... Then a change of tack to..... Actually the far deeper layers will be the main ore body.... But no we aren't drilling there to prove it.... We are off to Greece for a new opportunity..... Emmmmm...
The whole thing to many of us non experts smacks of Obfuscation frankly....
To develope a mine like the one discussed coincidentally on RMM takes what.... 8-10 years. So the money here has to be in pricing up something and selling it most likely I would have thought.
Wandering off and leaving the Cu prospects for a new Zn play maybe a stroke of genius.... But most of us, plus Mr Market don't quite see it as yet.....
Let's hope your optimism is warranted. But hopefully you have also learned a bit of a lesson here..... Making, sure fire imminent incoming SP predictions only gets peoples backs up!
Been vocal in my praise for the RMM CEOs ability to turn round the mining aspects there, and further uncover the 2% Cu grade etc.
Been equally balanced I hope, in my distaste for the way he has miss lead the investors there on his appalling financial management, that's been recently uncovered.
A stunning inability to make the most of the super strong resource by hedging at the right point, and even worse not managing cash flow remotely ... All that's been acknowledged by many of us invested there tbf.
Not sure then how that's remotely relevant to the crushing lack of progress (and SP decimation) here in the last 4 years....
Or are you happy with how it's all gone.... ?