Member Info for Theorist

I read a lot of posts and just occasionally one stands out from all the rest. You are so so right. Aim is a mechanism for unscrupulous people to liberate honest folk from their savings. Plus on all of these boards there are numerous individuals deliberately ramping piles of poop.

not interesting really. the company doesn’t have any cash so it was obviously shares or nothing. one of the hazards of building site infrastructure with no funding for the mine. nice little handout for ******. the gravy train rumbles on.

Mumbles. Not surprised you want to back away, what you should really do,is admit to the forum that you stuffed up. I checked out Ecclestone on LinkedIn. He has never been in banking, he has been a mining analyst all his life. Now China and his half wit glove puppet know that I have spent time in WA, that I was there in the Laurie Connel, Kevin Parry, Alan Bond, Robert Holmes a Court era. And here’s another one, I shook hands with Dennis Connor at Royal Perth Yacht Club after he won back the America’s Cup. There is absolutely no way Christopher Ecclestone could know any of this stuff. And there is no way I could make any of this up. So the best thing would be for you, the reptile, China, the glove puppet, Hogsnipe ( who has shown himself to be another half wit), the aptly named Wyeowye, to publish a joint apology to Mr Hallgarden. To say you are very sorry for your slanderous comments and the unfortunate mix-up. But don’t worry about me!

Prg. Essentially all I do is warn you, all that glitters is not gold. I have made it very clear that I think this will end in tears. With the sp at 22p that seems to be the predicted outcome.

Sundrum. I couldn’t give a fig who any of you lot are and wouldn’t waste 10 seconds of my time trying to find out. Now you’ve got yourselves into quite a serious mess how you sort it out is your problem not mine. Meanwhile you had better hope that Mr Hallgarden has a sense of humour.

I have spent the day trying to explain to my wife that her new name is Susana and that she should start calling me Chris. I can tell you I have three things in common with Mr Hallgarden. One consonant from his first name and a vowel and a consonant from is surname. You could of course email him with news of your discovery and no doubt you will receive an expletive ridden reply! You have certainly entertained me but I very much doubt you have entertained him. Mumbles I think you are going to be in an awful lot of trouble.

Looks like the lunatics have taken over the asylum. Meanwhile the termites have munched another accommodation block and the road needs resurfacing. Again.

Mumbles, at the end of the day the market judges the company’s progress, not you or I. Clearly you are delighted with what has been achieved. I on the other hand think that very little progress has been made. At 22p you might have the grace to concede that the market is more closely aligned to my point of view.

Re ALK. The company has two employees, Vicky and PA’s daughter. They are telling the market that a $300m financing is round the corner. I have every right to call that out. Particularly when the company itself describes Supply Tactics as some market leading consultancy. That simply is not true. The comapny was formed by Vicky and her husband for tax purposes, to receive Vicky’s enormous part time non exec fees free of NI and PAYE at source. Why would you take issue with that? And how about the Gibraltar loan? Why isn’t the market informed about that? It should be. And what about Saltend? Last RNS on that and finance was imminent. Two years ago. I understand it’s painful to hear these things but these are the realities.

So is Vicky full time now? Will her salary be subject to NI? Or will a monthly fee be paid to Supply Tactics, the company Vicky set up with her husband to receive the payments from TVL? I notice they used some of the money to buy a car so they can deduct the depreciation from income. The RNS refers to Supply Tactics as some specialist consultancy. That is plain stupid. Vicky set up Supply Tactics to flush her extraordinary monthly payments from TVL. Anyhow it will be interesting to see if a CEO could also be a non employee, off the books for NI. Might be a very expensive promotion for Vicky.

Mumbles. Imagine you present a project finance opportunity to a bank. In June 2023 let’s say. In February 2025 the bank calls you back with great news. They have done their credit analysis, it’s all approved, subject to finding someone else to take the political and commercial risk. Well would that be a fair summary of the situation here? Oh and I forgot the other bit about AFC outing themselves as the mystery co-funder at Indaba. And the sp is 22p or whatever. So even the market recognises this as a load of all tosh. Come on Mumbles, surely you’re not falling for this?

You guys just don’t get it. Tucked away in the August RNS was the fact that a very nice dollop of options was gifted to the directors, 500,000 in fact. Then we have some fabulous ramps, ABG Collier, the $300m financing around the corner. Up goes the share price, then we have a subscription for 600,000 new shares. Which actually costs the directors sweet fa because they are effectively capitalising the options they got for nothing. In Vicky’s case she is capitalising some of the extraordinary director’s fees that the company cannot afford to pay her. Some of the cash raised will presumably find PA’s daughter’s salary. And lo and behold the placing that nobody knew about is oversubscribed. Really?! So there were people who wanted shares in this placement that didn’t get them?? A placement that occurred very neatly after the shares dropped 40p. Some pretty extraordinary financial gymnastics here.

You two are hysterical. I’ve been Israeli, Russian, a pauper, now I’m married to a girl called Susana. This spy base you’re running from your retirement home in Yanchep needs some new recruits!

China. You always entertain. Who the eff is Suzy? Btw I am in Brazil now so no need to emigrate, I could just stay here!

Mumbles. Two years of internal credit analysis! Are you being serious? Who “officially confirmed” AFC was a participant? Is this an unconditional commitment? Or is it like ABSA who have apparently approved the loan if someone else is prepared to take the risk? To be fair for $50k a month I would kick the can. For four years and counting!

Put your seat in an upright position and fasten your seat belts. We have commenced our descent.

Oh dear, what happened to the promised finance. What happened with the Gibraltar loan. Is the group up to date with its monthly payments to Vicky? Or is there a nasty arrears building? This one is going to end in tears. Unless you think someone will bung the company $30m. A company that owns nothing. And TVL has one employee, PA’s daughter, and a part time non exec on £300,000 per annum. Yes that’s part time. Otherwise of course she would be on the books with the company paying employers NI. Who is ramping this and why? For whose benefit does this company exist? It’s jaw-dropping stuff.

WW. In January the company delivered an update on the financing, basically saying ABSA had indicated it would put up half the money if someone else took the risk. There was no mention whatsoever of AFC. Isn’t your line about when AFC is confirmed a ridiculous unfounded comment? What the company announced was that since last March they have got absolutely nowhere. And don’t you think that if this resource was truly the greatest thing, as PA would have you believe, one of the big boys would have rolled this over? But clearly none of them want to touch it. Why??? You should be able to figure that out for yourself.

Mumbles. I don’t think you understand. Sure banks sell down their participations and sure banks might look to insure very particular risks. But this is a case of a bank saying, yes, we will lend you the money, but only if we can find one or more institutions to underwrite both the political and commercial risk. That is of zero use. PA knows that. What can he do? He has to keep kicking the can, once he stops its all over. I reckon that soon the AWF will lose patience. Then it really will be all over.

‘As well as obtaining political and commercial risk cover’

Couldn’t be much clearer.

Mumbles I think you have got this wrong. I fully understand syndicated lending, I worked for two years on one of the largest loan syndications ever undertaken, involving over 100 banks. What the January RNS says is that ABSA will take 80 out of the 160 subject to finding someone to take all the risk on their 80. So no endorsement. And no progress.

China. Sadly there’s no room under the rock with you and the ventriloquist’s dummy occupying all the space. I asked Mumbles the question in order that we can establish the parameters for a bet, ie finance by such and such a date. Why would I welch on an opportunity to clean up again? There’s a few very obvious reasons why so many many institutions have shown PA the door. Now we are down to one bank saying they will lend the money if someone else takes the risk and AFC who don’t even finance these sort of projects. There’s a world of difference between a case study and a commitment!!