Junior Exploration Company on AIM27 Aug 2024 19:27
I'm still here, and left with a few, but I broke the first rule of investing, and should have listened to myself, and that rule is, that everyone should know, you only invest in companies where the Board themselves have skin in the game. No ifs no buts, it's the cardinal rule, and the cardinal sin if you do otherwise. The warrants are neither here nor there, it's putting their own hard earned cash in from their salaries paid for by shareholders that counts.
At the end of the day, this is a junior exploration company, it's diluted shareholders yet again, running in to 6bn or so shares now, it's ludicrous, and they won't stop there. They should have concentrated on Tanzania and utilised monies that were raised for that specific purpose, not introduce something totally new, and without voicing it first with shareholders at an EGM. I appreciate they would not be able to name the company, but they should have raised it with shareholders and what their intentions were before p+ssing in the wind and doing what they want. They are answerable to shareholders, shareholders own a part of the company and they pay their salaries and bonuses. I don't know when the AGM is, I can't be bothered to look back to see, but the finance guy needs removing pronto imo, I said this after that last disastrous presentation of the two of them, it was a shambles, but I was shot down, but he definitely needs removing, but at the end of the day, they are going to need so much money here, it almost feels as though it's the titanic in slow motion. Even Winnifrith has come out tonight on sharepuppets and said it's a disaster! I can see it crating back to 1p, and it will be rinse and repeat for a while for traders only. I feel for those who have been in for so long and are hugely out of pocket, you have a voice, use it, vote for change, or table the company to call an EGM for votes to remove certain members of the Board. imo.
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