Brucey- Mate were on the same track, I agree wholeheartedly with you on management. that's the main issue.
And yes I /we were in this back in the STB days. Back at 10 cents one of our 10ba99er co-founding members found this monster project and shoved it into STB (you probably know who he is). We then got it up from 10 cents to to 6$ when (fortunately for us) the BHP buyout of Canadian Potash for 40 billion was talk of the town (but never happened as you recall). We made a lotta money. We left this co with money and decent management and moved on to enjoy our lives for a while and we have been goofing around the world for last 10 +years living the dream (not just from this stock but from other stocks we did back then AQS (Aquarius 2cents to 16$) and MPH (Magna pacific holdings -bought out 2000% up etc) remember them? that was us. amongst other back then.
We only started to rejoin together with CLA 2 years ago (0.5 cents to 25... but then unfortunately Cobalt crapped the bed very suddenly and we all went down with the ship back to 0.06 cent low). I went off to sail tahiti back to Phuket for much of last year. I came back for the covid shut down and we all decided without being able to travel (our guys live all over the world and are all independently wealthy) to get together do our old business again as we are good at it and its fun. We have reformed now as the tenbaggerclub. Weve been kicking ass since (average gain of our ASX stocks just last year was 2004%) were getting stronger now-more and more people joining as we are harnessing social media (we couldn't do that way back when in the 90's) but its a great vehicle for this business.
Were now behind a few good plays going on in the market now E25 KIS MAN, etc and just got set in a few more for this years new games. (we've got 9 asx stockstotal on the boil now) and we just acquired more big interests 2 small ones that will soon explode , and we took on DNK as one big one -we know well - and to fit everyone in and because I as an East African (I'm born in kenya) care a lot about this project and some of the other guys in the club still own millions of DNK shares (since the STB days) We are coming back to get this one going again.-and giving it our best shot- it worked before and well hopefully mak it work again - it deserves it.-and well profit.
We left the co before 9 years ago with cash and what we thought were good management to continue the deal. they have progressed but unfortunately, it has been slow, now we're coming back in to kick some ass. We just took out the main seller, we axed the boss, who we felt was a man reason for the over expenditure and slowness- and if more heads have to roll they will, were getting (infact weve got ) shareholder control and were gonna use it as required get this project going on behalf of shareholders - not for management to take big salreis for the money shareholders raise - It just needs the last 120 mill USD. (no easy task in eritrea) but plenty lesser projects in dodgy countries are getting financed - excessive capital is sloshing around looking for a good home- they have 200 (65%) mill already lined up, the work on the ground has been solidly done. but IMO no one has been kicking doors down hard enough and promoting for the balance for the funding recently.
this project is outstanding -its good for the world-its good for Africa- its way undervalued- there are several other big groups who we are aware want it - if we progress it and the SP north till one of them makes a bid (the potential buyers have had it all their way for some years now as the corporate types at upper level who apart from Seamus own almost no shares - blow through the cash and are not aggressive enough- thats unacceptable) That is changing.
And IMO your attitude doesn't help ... like the company belongs to the management?? - like share holders cant do stuff for their company? NO Brucey thats a wrong beaten down ASX junior shareholder attitude you hold IMO. The shareholders own the effin company!!. the management work for the share holders!!- the management have to listen to the effin shareholders!!. And that's what we're doing now . Not the other way round. If they cant get it done they must go - and then shareholders will get it done or get new people in to get it done. That's how the junior stock markets are meant to work. IMO You guys in oz sometimes lose sight of that fact of life. that fact of the law. (I think - personally its because like the frog in the heating water Aussies - great and free people before, are getting more and more into a police-state, big brother knows best beaten-down frame of mind down there- and this is a reflection of it)
And also don't be a smart ass and laugh about the Eritrean expat community- go check it out- like the jews and the Armenians and the Palestinians there are more overseas than at home, and they are smart entrepreneurial people who have overcome grave misfortunbes and struggles to get their own country go abroad into racist attitudes like yours and most have made a lot of money, and they care deeply for their homeland and theres alot of them with alot of connections and money and they know this project will seriously help their homeland. These people will and do die for their homeland. If they believe this project will help it which it absolutely will - what better group of shareholders do we need. I can say much better than some short term Aussie flippers we get on here on HC.
So please don't criticise so easily - its easy peasy to criticize its hard to create. , This deal may not happen of course ,but were giving it a go again, and we did it well before, and with heart, it's not gonna happen over night, but with the exception of CLA (and we ain't finished with that yet) almost all our projects tend to come to fruition. If there are doors in our way well kick them down, if there are people in our way they will get axed, if there are new issues and problems in our way we will go round them over them or under them until we get there.
So you may sneer and say its nonsense talk on HC, matre this is just one of many media we are using to create awareness, you will see -we are reaching thousands already and its growing fast. So why don't you buy a few shares back and come join us instead of standing there being critical about what can go wrong. Cos belivee me Brucey and you other cynics out there I can tell you hundreds of things that can go wrong - we know that already.
But as a stock punter here's the deal for me. Look at the valuations of the few other good SOP projects in the world, look at the location and feasability of this one and tell me that at 30 cents, even 50 cents this won't get bought by someone in a worst case. BIG food cos, big chmnical cos, national govt sovereign wealth funds etc (we know some are bidding the Eritrean side already ) so what's the downside here? not that much in a worst case DNK sells its shares in the project to a bigger player-and we know they want it already..
but what's the upside -if it turns around as we intend -and are trying to do now- and as it can its 8-900% upside.
so hmmmmm- no real big downside in worst case- 8-900% upside if it works well (a bit less if it just works).....thats a trade ill take all day long, and its personal to us.
so were back here for the duration or until the buyout. Plus its a good project for humanity it's a good thing to do.
so were doing it. wish us luck but don't stand on the ideline criticising and laughing please it doesn't help anyone or anything.
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