ggggggggggg (AYM)28 Dec 2022 11:56
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.