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08:50
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Originally posted by Symxpnotic98:
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Alexandria, No offence but what a crock of sheet and what a pathetic excuse for management shortfalls. If it’s because of the downturn in the market that we are where we are , why do we need this management, — just wait for the market to turn and therefore anyone can do it. —lol What sets management apart is their ability to grow and develop assets in tough times. You blame the market for their shortcomings, yet Meteoric has a deposit that you have to admit is far far inferior than our deposit— and yet they have a Market cap of over $250m some 2.5times ours — look and read what they have achieved. Brazilian Rare Earth raised pre IPO money and just over 50c some 14 months ago and are now over $2.50 with a market cap of around $700m — are they as an exploration company that much better than ourselves. Please explain why these two companies are far far far outperforming us , in reflecting a decent market cap, which protects existing shareholders from dilution. Is appears you just have no idea. The stocks that are most effected by downturns are all the greenfield play or deposits that are inferior— look at the Hastings grade!!! Stop comparing us to far inferior deposits and companies. Now also lets look at what Asimwe has delivered. 1) An “off take" with Gerard for 40% of our Stage 1 production.—45k tonnes —9000tonnes for 5 years Fact — we got nothing from them , other than we will get a bill for 5% of what price they sell the product for, no floor nothing. To me it looks like we are giving an outright call option — at absolutely no cost— what an unbelievable deal for Gerard !!!!!. We have to pay them 5% of the gross sale proceeds , when and if they exercise their option to sell the product .— Probably to the chinese as both Lynas and MP can supply their own facilities. Oh and also because stage1, according to Lindian's latest presentation will only be producing around 15,300 tonnes per annum— that 40% is actually 60% of all our production for 5 years — for what — negative 5% of gross revenue , when and if Gerard want to take it for the next 5 years. 2) Rumor has it that they may get some debt funding up to $25m carrying double digit interest plus plus fees and a floating charge over the whole company. 3) They may also finalise another off take with an Australian miner for the balance , but again what may we get — maybe $15m in a convertible note at 15c conversion. Again no prepayment a con note — what the F—k. Oh and the off take price is a fraction of the current NDPR price, which may prove we cannot make money at selling it to them at this price— but what the heck , we got the $15m upfront and what interest rate and convertible. Other corporates and superior management are interested in coming on board , but I understand this may affect the dictatorial control Asimwe appears to have over the whole company and he refuses to engage with them. He prefers to enter deals that appear to be totally skewed to the other parties—— they are far far better dealers than our management are. Oh and yes , we have just done another “great “ deal on one of our Bauxite assets. No money up front and pay us $1 or $2 per tonne from what you extract from our deposit — estimated to be 2m tonnes per year. Oh how are we going to regulate a know what tonnage anyone take , that we are now not involved in, and if the contacting party is already a miner of bauxite in Guinea. How will we know what comes from their deposit or ours— it is Africa !!! Time to stand up for your rights and see what is happening and take charge of our asset.
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Not sure where you get your facts from
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