Member Info for TrickyDicky2

Astar

I've listened to the whole thing.

First thing to say is Robin isn't a particularly accomplished speaker, but we know that. In nearly all of his interviews he doesn't come across particularly well. Having said that its the content and not the delivery you need to focus on and I think you can get a lot from this Q&A session. The fact that he looks like he's just got out of bed stands for nothing. It's what he has to say and, for that matter, what he avoids saying that's important.

You get a lot of sharp opperators on AIM. The suited and booted brigade with their carefully coiffured hair you can almost smell their expesnive aftershave over the You Tube interview clip. They're mostly snake oil salesmen selling a pipe dream. Robin might not present well, he doesn't dress to impress but he does try to answer a lot of the questions PIs put up on this BB. He also doesn't avoid touching on some potential negatives as well. That's refreshing.

I'd give him a 6 out of 10 for that presentation. A pass but needs to do and can do better.

TDT

This should keep most on here busy today.

TDT

“ Amur Minerals Corporation (AIM: AMC), in advance of its Annual General Meeting, releases a shareholder Q&A which can be viewed via the following link.”

link.

Link: https://www.youtube.com/watch?v=GlCA0vKi0_Y

“ Don't be you have got the Project over the line……..”

The disappointment comes from the level at which the raise was done, 7.5p, the number of additional shares, over 1.4B, the level of PI participation in the raise, $80m, and last but not least the announcement that directors and management are to be awarded up to 8% of the increased share capital of the company in options. That’s 8% of about 3.2B.

Call me cynical but is there any chance that the characters who have just massively diluted PIs in this huge give-away might have been tempted to do so by an 8% of 3.2B shares carrot?

Conflict of interest!

Vermelho more or less given away.

There’s a lot to be unhappy about as a PI with this deal. That doesn’t mean to say that with the uncertainty now removed and funding in place we will now not see a share price rise from here. Once things settle we should. That doesn’t mean to say that you can’t and/or shouldn’t feel aggrieved at the terms of this deal.

But then it’s always like this. PIs soak up the shares issued in the early stages and once the project is de-risked and looks like it’s a goer they get excluded from the give-away.

TDT

.....fecking insult to injury.

"The Company has been unable to issue options for the prior two year period due to regulatory restrictions. It considers that the successful Equity Fundraise marks an appropriate juncture to consider a further award of equity incentives to key members of the executive management team, in accordance with the rules of the Company's existing share plans. The detail of such awards to be made within the existing schemes and plans and within the limits of those plans will be made available in due course as required but are not currently expected to exceed 8% of the issued share capital following completion of the Equity Fundraise, Glencore Subscription and Open Offer."

Let this sink in for a minute.

"..... but are not currently expected to exceed 8% of the issued share capital...."

That's what they are awarding themselves. That's more than PI's are going to be allowed to subscribe for. Am I the only one feeling like puking right now?

TDT

Then there's this.

"Investors are reminded that the Proposed Senior Debt Facility and the Cost Overrun Facility are at the documentation stage and remain conditional upon definitive documentation being agreed and the completion of due diligence. Discussions are ongoing and, whilst the Company has no reason to believe that the funding package described in this announcement will not be implemented, there can be no certainty that all of the transactions contemplated by this announcement will occur. Further announcements will be made in due course in relation to the Proposed Senior Debt Facility."

So not quite over the line just yet.

TDT

You must be brain of Britain Ollywoo, you got that one right.

Horizonte, however, has largely managed to get to where it is now because PI's have backed it along the way. Now that its close to actually getting somewhere the people who have helped it get to this point get what? What do you think most will be alloted out of the 80m that's available. It means massive dilution for PIs no matter what they get. Its that simple.

A right issue, on the other hand would have been a much fairer way to have treated PIs. Would they have manged to get $50m away on that basis? Well, I wouldn't have taken the whole lot myself but I'd certainly have taken my full entitlement as would a lot of other PIs here.

You can take your chances in the coming days assuming it drops to 7.5p and I'll certainly be looking closely at where the sp goes over the next few days. But there's this feeling that JM has decided he doesn't need PIs now with way this fund raise has been conducted. But then again twas ever thus.

TDT

ScottJ

You mean the crumbs?

£6m at 7.5p comes to 80m shares. That's a fecking insult, pardon my French.

TDT

"..... looks a great price"

Really. On a quick scim read it looks like Orion and La Mancha have cleared up.

"Orion will subscribe for US$50 million of newly issued Ordinary Shares at the UK Placing Price subject to a maximum of 7.5 pence per share...."

"La Mancha will subscribe for between US$65 million and US$75 million of newly issued Ordinary Shares subject to their pro-forma ownership not exceeding 19.99% of the enlarged share capital of the Company. La Mancha will subscribe at the UK Placing Price subject to a maximum of 7.5 pence per share."

We're looking at a £93m equity raise at 7.5p per share or 1.24B new shares. Under normal circumstance most PIs would be raging at being left out of the raise and at being heavily diluted.

Or am I missing something?

TDT

Nickel down by 3,054 tonnes in the LME today. Total now stands at 118,164 tonnes.

By the end of the month, at current depletion rates, LME nickel should be down to about 110,000 tonnes, by the end of the year down to around 80,000 to 85,000 tonnes. As for next year, the cupboard should be bare no later than the end of March if things continue they way they are.

TDT

PLS

"... if its a high potential target...."

The crucial word there is "if".

"If" past experience is anything to go by "potential" will be noticeable by its absence.

TDT

Prioritising pumping the share price for a placing more like.

This lot haven't got a pot to pizz in so if they're planning to start drilling in Nevada they're going to need to get money from somewhere. The last fund raise was April 2020 for £600k which has been drawn down in stages the last, £60,000, was drawn down on the 24th. February 2021.

Time to get the begging bowl out.

TDT

It really doesn't take much to move the price on TSX.

https://www.dropbox.com/s/gj17m5vyezaxuro/TSX%20Market%202021-11-17%20at%2021.49.27.png?dl=0

When you look at the buyers and sellers you can't help but get the feeling that they're playing with the price.

TDT

...... now at CAD$015 converts to 8.8p which is still higher than here on AIM.

TDT

Class 1 nickel in the LME as of 17/11/2021 down to 126,090 tonnes.

Totals in the LME (16/11/2021)

Opening Stock - 127,818 tonnes
Live warrants - 75, 018 tonnes
Cancelled warrants - 52,800 tonnes

TDT

I should think people on the TSX watch AIM for pointers on what might be happening just as much as we here on AIM watch the TSX.

The late flurry of buys on AIM this afternoon looks to me like it triggered the reaction on TSX. It started at 12.44pm their time and looks like it petered out at 1.08pm on very low volume. The share price reaction, however, has been significant.

https://www.dropbox.com/s/wjkleedkcl5fhw3/TSX%20Market%202021-11-16%20at%2019.42.17.png?dl=0

In the absence of an RNS to justify the rise I suspect the TSX will deflate.

TDT

Hazbeen

“ I can see why VALE never pursued it .”

They did. They mothballed Vermelho and decided to develop Goro in New Caledonia instead.

That article has been posted before but it doesn’t do any harm posting it again. It probably helps explain why nothing is priced into the share price for Vermelho at the moment.

TDT

pickedpeck

The DNi process using nitric acid is not new, it’s been around for years. I first came across it at least 10 years ago if not longer. I’ll see if I can dig out anything on it and post here later today if you are interested.

TDT

Try the below link instead.

https://www.csiro.au/en/work-with-us/industries/mining-resources/resourceful-magazine/issue-22/known-unknowns-the-devil-in-the-details-of-energy-metals-demand

TDT

fulmar29

https://www. https://www.csiro.au/en/work-with-us/industries/mining-resources/resourceful-magazine/issue-22/known-unknowns-the-devil-in-the-details-of-energy-metals-demand csiro.au/en/work-with-us/industries/mining-resources/resourceful-magazine/issue-22/known-unknowns-the-devil-in-the-details-of-energy-metals-demand

A long read but interesting.

TDT

SpaceHoppa

"....all loss making companies would be ''more or less insolvent''...."

True but weren't they supposed to be mining 7.8g/tonne from the get go and wouldn't that have made the most recent fund raisers unnecessary?

".....management's mining performance so far has been patchy and need to improve!"

Agreed and that's the issue.

From here on we should be seeing a significant improvement which will hopefully make any further dilution unnecessary, especially at the levels seen recently. Its the levels they recently raised at plus the warrants that leaves me feeling they were either desperate and didn't have a compelling story to tell or its a mates rate. As with most things to do with Pure its difficult figuring out which.

TDT