Member Info for whogarth

1 Panmure Gordan in a placing and open offer raising £5.3m SHARE. 2 Cork Gully have a reputation for turning round companies. 3 DCP looking for workers. 4 Paul R Loudon photo back on the website..

A valuable mine which needs in the order of 4 million to kick start operations why are the large share holders going to let it go?

I would have thought the larger share holders would have got together and insisted on a RIGHTS ISSUE. The BRP has had no regard for the share holders why were they appointed?

The BRP is not acting as a insolvency practitioner.

Let us hope there is some action on the mine opening as it is 5 months since flooding occurred.

Is possible to offer the workforce shares in the mine as an incentive or am I talking rubbish?

The mine could be opened without the workforce members of the AMCU and it will have a realistic value and the possible future.

If the BRP are doing there plan to get the mine back into production they should allow Paul L to get on with the repair work. He must be tearing his hair out.

The workforce are not all members of the AMCU and why is it not possible to get some of the remainder or subcontractors to begin with the remedial work to get the mine operating. IN THE INTERESTS OF ALL

I cannot understand why a small team could now be organised to get the mine clear of water and sort the road to rescue the drilling rig as we have been told finance has been sorted.

Like you macaumike I do not understand.

Thanks Valency I thought the claim prior to the flood would be for the fire damage to the truck. Surely the drill could be retrieved now as it is covered by insurance for I understand it will take 6 weeks to rebuild.

DCP did have insurance for flooding to what extent this covered at the end of the day should bring in a payment.

There is no sign of support from the major share holders as listed for a Rights issue

I cannot believe there has not been some pressure from the major share holders to obtain a move on to get the Lace mine operating.

Thank you for your detailed reply. If the mine was allowed to operate the value of the mine would be in the order of 100 million this would equate to 20p a share. At the moment it would be a give away. The IDC should give its priority to come up with a financial solution so that the BRP can proceed further.

I would like some one other than myself to confirm what the value of the loan is. The IDC is a government body and a decisive sensible decision is being protracted.

I think it could be a loan of 18 million.

You would think the IDC could come up with a reasonable agreement and quickly as possible for the working operations of the mine will deteriorate and time is required to get every thing to function ie drilling rig, electrics, road access, pumping and numerous others.

The large to the small investor and the whole workforce to the top management is hanging on a rope because the IDC cannot come up with an acceptable agreement with the BRP. This has to be resolved.