Member Info for yasx

I see the desperate bulls are now resorting to egregious antics in order to suppress the facts. Fear not chaps, I will not be dissuaded from telling it as I see it. It is noteworthy that they resort to indulging in hurling baseless but ghastly profanities in the hope that readers ignore my view. I am not here for name calling - I am here to discuss the merits (or lack thereof) of an investment in ANR. Well, readers can do whatever they want - but, the reality is that no serious mining entity agreed with the Board in taking a stake for a pittance in October despite the Board indicating in a formal RNS that they exhausted all funding options. All those with an eye on this alleged blockbuster asset must by defiintion have been aware of the desperate requirement for funds, yet none chose to participate. In the end the Board accepted a derisory 200k and gave away a third of the entire Co for it. Yet it is now valued at ten times that price. Sheer insanity in my view. This will not end well.

As for myself having intention to buy shares in this Co, you must be joking. I consider it worthless (the only asset it has that has any value in my view is the paltry amount of cash (which is eroding with each day) and the listing. So, I might be tempted have a punt purely for fun if it were to collapse, say, 90pc or more from here, but, even then it would be a pittance and just for fun. But, even at that level it could only be considered a momentum punt and not an investment since there is nil basis I see for investing here. It is a tiddler that is levitated on mere hype. IN short, I have no intention to buy here - you say it is a fact that I am looking to buy, but like most of your facts relating to ANR and the assets, there is no evidence at all for such a claim.

MRS has two real underlying businesses, which have intermittently demonstrated profitability in previous years - unlike ANR which has a pie in the sky jam tomorrow story to tell. As for any link to MRS, there is nil relevance. You and others try to allege some sort of alliance to give ANR some degree of credibility, but, MRS issued a very strong rebuttal (I suspect some like TradeNonsense will not have liked that): "The Board of MRS is not currently involved, neither has it been involved, in commercial or financial discussions with either URU or Altona and none are planned." Now, you say ANR has access to one eight of Australia's coal reserves and you expect all this to go to production in due course. If you and the CEO are so convinced, why on earth did the CEO allow 30% of that to be sold last month for 200k.- and only then after trying all other funding options. Either the Board are dim to let it go for such a derisory sum or everyone knows this ain't worth much.

Westfield has the highest elevation and therefore they conclude the coal in that tenement will be dry. What a load of rhubarb. Worse still was the line about raising 200k from two strong investors with a'a lot of experience in the mining sector' Is this man even remotely serious? One of the two is a data seller (just google his profile which is essentially non existent other than it will take you to some spurious forums and make of it what you will). He has never held a Board position and I am firmly confident he has never visited a mine, let alone having a lot of experience in the mining sector. Any fool soaking up this twaddle deserves all they got. Here is what will happen next - seismic results will show awesome potential in the report that is being commissioned, and then the analysis of this will inevitably demonstrate things have even more potential than thought initially. I have no doubt no coal will ever be produced - this is plainly clear. Talk about a world class resource by the CEO, yet confesses that he has sold 15pc of it for 100k to a retail investor (who he alleges has considerable experience in mining markets). Well, why does he not disclose the extent of that experience. Why is there nil background on that? Rhetorical question... Then you have the codswallop about a larger coal developers will buy the project given the huge resource - well, if that were the case, why didn't they buy it for a couple of million when the company was seeking investors? Only this retail investor seemed to have interest. What a joke.

Only problem is they have no coal to sell and are unlikely to ever produce any. But, why let such views get in the way of the promotional spin. Remains grossly overvalued.

In and out of auction early hours - managed eventually to sell at an average of 68p for a substantial gain from very low levels- have bought all back and more at average 55p. Looks undervalued and once market digests prospectus will go again

Ignore me by all means - but you, and others, cannot ignore the fact that the points I make are factual and you are unable to repudiate them. Putting your head in the sand does not mean the problem goes away - there is still insufficient cash to explore anything, and the only participants taking up the equity arethe Zorbas/Hogan bandwagon. Ask yourself, why are no other mining outfits or major investors able to see the virtues of the asset that everyone on here can so plainly absorb?

What on earth do you exepct me to suggest? One thing here and another elsewhere? Focus on the facts - readers were telling me last week major corporations were scrambling to get a piece of the asset - I said a placing was coming, and the same retail investor would likely be the one to soak it up. Guess what - no sign of major international companies bidding for this asset.

Oh dear...Mon 10:31Well, someone seems keen this morning to exit - of course, it enables the likes of BF and others to buy more!! I certainly hope they do - you see, I ordinarily wish not to indulge in schadenfreude but they certainly deserve what is likely coming to them (a thumping loss, for so I am convinced). So, no buyers here - despite this jolly wonderful asset - perhaps the Co will need to find another retail investor to take up any future placing since the 200k from the last one will not last long. No other source to tap cash likely I say...

Doubtless to say, Zeus will now try to support the proposed placing (at 50p) which, if approved by holders, will result in the new shares being admitted shortly (the 11th of Dec). Thus, there must be a reasonable prospect of seeing a quick 20% and more gain here if institutional investors are to take this up. Note: This placing is not underwritten. If this does not proceed, well, what options do they have other than raising the same at a lower price. I reckon they will get this placing done and have therefore taken a short term punt at 40p.

Well, someone seems keen this morning to exit - of course, it enables the likes of BF and others to buy more!! I certainly hope they do - you see, I ordinarily wish not to indulge in schadenfreude but they certainly deserve what is likely coming to them (a thumping loss, for so I am convinced). So, no buyers here - despite this jolly wonderful asset - perhaps the Co will need to find another retail investor to take up any future placing since the 200k from the last one will not last long. No other source to tap cash likely I say...

WolferLaugh - Keep kidding yourself - not hard to see why Chinese investors can't get enough of this asset? I think you will find the Company last month put this asset out to everyone to see if they wanted a slice, even for a tiny sum - and yet, no palatable proposals were found. Of course, you and others will say i am making this up, but, what if the Board themselves told you? Here goes, from the 13th of October: "Qinfu Zhang, Executive Chairman of Altona, commented, �The Company faces a difficult working capital situation and, after exhausting all usual funding channels, we believe these new investors represent the best opportunity for the future of Altona." So, after seeking out every potential investor, the best they came up with was giving 15pc of the Co (including the asset it holds) for 105k to a retail investor who has never held any Board level position at any listed Co. Does the above seem like a scenario in which Chinese investors are scrambling over themselves to get a piece of the pie? Surely the Chines would have offered, say, �300k if the asset was all that. But, certainly, there is no basis for the current 9 million valuation when recently nobody would pay more than 200k for a third of this blockbuster asset. What were the Chinese and all other mining companies missing that the Co could not convince them to part with such derisory amounts, and had to take up the offer of 105k from a retail investor in exchange for nearly a sixth of the Co. Time for lunacy to subside on these boards... I welcome criticism and counter views, but do base them on factual evidence.

Naturally, it is for you to do as you wish and I do not advise others as to what they should or should not do - but, as I point out, my reading of affairs is that this is one to grant a wide berth to. If I were holding, I would sell without blinking.

I see common sense restoring itself to some degree. But, this has a long way to fall yet (probably at least 75% before any assessment of fair value can be considered reasonable). The question for me has to be how recent notifiable holders can manage an exit here - clearly they cannot just offload into the market without crashing the price as soon as they attempt to do so - thus, I think they will wait for news to emerge and sell into that. Of course, I do not speak for them since they may have no intention to sell, but I think otherwise. Whatever news emerges, expect plenty of hype on twitter and elsewhere form certain quarters to lure in mug punters to prop up one end. But, I really do not see any news that will emerge that can even remotely justify the current absurd valuation.

Before you ask why I am here this weekend, surely you ought to be putting the same question to yourself - by definition, there are two opinions to any trade. Hope that helps.

Why on earth would I buy a stock i consider to be trading at least 1000% above what i consider to be fair value (my fair value price is around the price the Board thought it fair and reasonable less than amonth ago to sell 30pc of the Co for a pittance). Are you really suggesting the Board (who are familiar with the minutiae of any potential JV funding as well as the merits of the asset) lost the plot and simply gave it away at a derisory price?

The post to which BF alludes stated as follows: "Based on the cash from jv alone the mcap should be north of 30m imo. Can't think of anything else off top of my head. If anyone else got more info please share......" As it happens, he must have been thinking from the top of his head (or perhaps from within his knee joint) since there is no �30 million in cash on the balance sheet as a result of a participation in any joint venture. The reality is they have negligible cash, around 200k assuming this has not already been dissipated on running matters over the past few weeks. This from the Co very recently: <b>" "The Company faces a difficult working capital situation and, after exhausting all usual funding channels, we believe these new investors represent the best opportunity for the future of Altona."</b> So, the Co has exhausted all options, presumably including JV agreements and could not access more than 210k, let alone �30 million. Fair value right now, based on cash on balance sheet, value of listing, whatever one can ascribe to license etc - of the order of 0.25-0.05p i.e around the placing price. Anything else in my view is hope premium which is not justified. Incidentally, I opine it is virtually a given they will need to raise cash and fairly soon since funds are rather sparse having raised such a paltry amount.

Your optimism is noted. Many thanks Good luck

Indeed, very exciting times. Less than three weeks ago the Co issued a huge chunk of shares which valued ANR entirely at the equivalent of less than 700k. Today, with the same acreage as the main asset base, it is capitalised at nearly �10 million. That is one serious element of hope premium. Mind the gap.

Forget your rants - stick to ANR (which you seem to wish to avoid). I have no interest in your losses of over 60% in a bull run (it just reinforces the fact you have a poor investment strategy) Incidentally, it is funny how you suggest I was bashing MRS when I have openly declared being long and at 4p (noted on LSE and twitter) declared it a potentially spectacular recover story that could well lead to a ten bagger (the tweets and comments are still there). Thus, I do not debase any company in which Zorbas is involved (though I would prefer it if he were not involved at mrs and I am not the only one). I see no value here. So, no more on you, your failures or any other company - this thread is for ANR. If you wish to discuss MRS, head over there.