My recent post on ADVFN15 Jun 2024 13:49
If you are undecided how to Vote and want to hear answers to questions that still trouble you, from the horses mouth, why not delay your vote till after Monday and the Investor Meet Co. event? There is still plenty of time to vote.
I agree however that these events are far from ideal as there is no right of reply and the Company can so easily regurgitate the same old motherhood statements leaving investors still surrounded by fog.
It seems they have been pressurised into this latest Q & A by "big" private shareholders, as the Co. communication to date on this transformational event has, as always, left so many unanswered questions. Issues the Co. should have realised would cause consternation, like dilution, like potential overhangs, like cancelling the dividend, like lack of details on funding and finance etc. And I suspect, whereas many investors took the Ozaltin dilution for cash transaction 3 odd years ago on trust, this time they realise they need to delve deeper, as that didn't play out, certainly share price wise, as expected. The goal of the Partners at that time was to become "one of the premier gold mining companies operating in Turkey", but the lack of progress at Salinbas, which was then circa 3 years from production, and Hizarliyayla, which I don't feel much clearer on even now, just didn't play out. They used the words "accelerated development" at the time for the Turkish portfolio, but even Tavsan, which according to them, should have been in production Q3 2023, now needs even more cash to complete by late 2024, which is frankly disappointing.
But let's see how Monday goes. Keep an open mind and let's hope they address all the questions head on. Fingers crossed.
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