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As those on this BB no all to well I'm a LTH but I fail to understand how you can hold an asset like Parys for thirty plus years and not develop it on the pretext that the time is not right.
If the BOD were not also the majority shareholders they would have been vote out many years since and collected their P45s. I understand that during that time they have not drawn a salary but that makes no difference you are there to act in the interests of your shareholders (US). Moving the company to AIM gives them less responsibility to shareholders, nice one BOD.
We own 12% of LIM through subsidiaries? correct me if I'm wrong, that makes us third party holders (not worth a carrot).
Grangesberg is never going to happen anyone who thinks otherwise is due a visit from the men in white coats. Given it's geographic location and alleged resources (a) why did it close (b) why have the big boy's not shown an interest (c) who amongst the BOD decided it was a good investment.
Let us go back to point (c) the big players are not interested in developing mines they want other idiots to do the job for them, then they can mount a buyout with little cost to themselves.
Our biggest asset is Parys. Even this is not a done deal let us not forget that QME are working for a considerable % of future profits something which may well impact on the companies ability to raise funds for the development of said mountain.
Lim has little to no baring on the SP, Our interest in Grangesberg should be sold off (if a muppet can be found to buy it) and any monies raise used to fund Parys.
My condolences to family of Howard Miller, a sad passing at this time of year.
I concede that trading at this time of year can be very slack. People taking their money out for whatever reason. My gripe being and everyone on this BB will probably be sick of my going on is lack of information. Yes mining is a complex business, things take time, an indication of progress plus a time frame would not go amiss. My breakeven point is around 3.8p if SP ever reaches such a dizzying level in the near future I may well sell down my holding. If things look to improve beyond that then I'll hold. I'm not desperate to sell at a loss.
Tempus Fugit. Another year almost at a close, Zilch! share price in reverse ! clearly you have more faith in Jo than the market and share holders, who if you look at the trades over the last week or so they are nearly all sells the buys being very small ones in volume. Some days no trades at all. Jo seems to have slotted in to the inertia of the board quite easily. He may be working flat out on our behalf but there is very little evidence in the way of announcements to support that theory perhaps he's to busy with his other commitments.
Yes it is the 21st century and we expect more from the BOD than perhaps in previous times so lets all hope that they can pull something out of the bag for 2023. Don't hold your breath.
The BOD have been playing at being miners for the past thirty years despite not a single ounce of anything being produced, and their still at it. Though I do concede that things seem to be moving in the right direction at long last.
With regards to Grangesberg, Swedish iron ore is/has always been regarded as high quality so why did the mine close in 1990? There has always been a market for high grade ore, one reason Hitler wanted to get his hands on it.
For me we need to get Parys up and running before throwing money at Grangesberg which in my opinion could be a big black hole.
Six miles from Prestatyn. Grangesberg I don't count as an asset it's not a resumption of works but a total start up from scratch. Surface infrastructure exposed to the ravages of thirty plus years of weather and no doubt vandalism along with flooded mine workings and capped shafts doe's not to my mind represent an asset more a black hole. Plus it is not wholly owned by AYM. Ref six month report finance could be tricky for Parys let a lone Grangesberg given the geopolitical situation at present.
I'm a LTH 20+ years off and on so looking for a return on my investment but a present that return is evaporating at warp speed.
If your post is aimed at me then so be it I'm not about to engage in a slanging match as this BB has never gone down that road. Opinions differ that's the way of the world, yourself and others may find my opinions offensive that's your choice but we need to stop looking at AYM through rose tinted spectacles. We have a valuable asset in Parys Mountain for which we have no time frame (18mths -6 years Jo's words not mine) not helpful, no mention of finance and in the present economic climate that is not a given. Correct me if I'm wrong but in conversation between yourself and the the late Bill he indicated that finance had been turned down on more that one occasion. Due to world economics which may well prevail for a number of years it's very likely that finance will not be forth coming. I accept that a considerable amount of work has taken place over the last couple of years which should make AYM more attractive to investors
Technology is moving at a rapid pace and if & when Parys is operational the EV revolution on which we are pinning our hopes may well be on the decline heading in the same direction of the video recorder. I hope I'm wrong, only time will tell.
As I've previously stated I was not at the site meeting so not really up to speed on all that took place. Were there any reps from financial institutions present, is the money forthcoming, 100 million + is not petty cash. I appreciate the fact that Jo is from a mining background and future demand is going to be there but will it be a case of not Anglesey Mining again. The SP and daily transactions show there is very little interest in AYM ( Friday ) five trades. It would seem that investors have not caught on or see AYM as a lost cause. Before I get pilloried yet again for talking the SP down I like yourself and others on this BB am a LTH and looking for a return on my investment. Why are we going through the permission stages on some aspects of the mine, if Bill was ready to go then surely most of the paperwork should have been in place. My background is construction so I'm fully aware of the ever changing environmental issues and issues with SSSI that didn't exist a decade or so ago but these are known issues and should have been cleared before now if the intention is to open Parys.