Australia's largest stock trading and investment forum Australia's #1 stock forum

ESS

Click for more information

0.00%

50.0¢ essential metals limited

Its come to this, page-2

First 2 Last

Share
Profile

Follow
mistie

1,751 Posts.

1072

20/07/16

17:27

Post #: 18319849
Share

Originally posted by Cheynne ↑

These are the qualifications and experience of our directors - looks good on paper except for current shareholders diplomacy skills

http://www.pioneerresources.com.au/management_profiles.php

The share price was 4.6c when company went into a trading halt for capital raising and we soon learnt Sophisticated Investors got in early for their 3.6c shares plus including options and got out even quicker. An SPP was offered to existing shareholders on same basis but extension made and still not in the hands of ordinary shareholders. If you've applied for SPP shares they're out of the money further announcement or warming advice to keep holders comfortable. Management just don't get it or are sticking their heads in the sand. They just don't know how to PR their company in a positive manner – I don't mean ramping, just advice on their direction, planning and mining preparation updates so holders get a general idea that they know how to drive the mining business and don't leave the control of the company to low price manipulators. They have 3 potential mining products, Gold, Nickel and Lithium. Surely they can communicate more clearly on their Project ideas and certainly more so with a knowledge or some idea in the next few days of what the cash position will be all up. They get cracking with plans outlaid with definite projections on where we're going. A person with a million shares worth $46,000 now are worth around $32,000 and any shares he has on order from SPP are out of the money as well. Normally holders sell some of their current shares in the money to buy SPP shares but were unable to in general because their holdings were out of the money due to lack of proper company general PR communication during the period and the company still doesn't get it. Some holders on HC have large holdings of many millions and have been cut pretty bad. Does the company care about their rank and file share holders?

The 50 Day Moving Average is still up for 5 years (and even 1 year) and it is probably now a buy on the market as no matter what they will have cash in the bank for their planning and projection advice. It's a shame it now is a buy on market rather than a confident buy on the SPP for more holders, and that's said when I'm partially bullish with PIO.

Expand

Totally agree, disappointing. Poor management of the SPP is beyond a doubt. Obviously there are no new exploration results good or bad to be released, if there was it would most likely be bad, as good news may have sent the share price above the 3.6c SPP price and more shareholders would have participated in the SPP. Paper money miners, perhaps.

That old pearler - “first in first served basis” for the non-underwritten SPP was the bell ringer for some of us. Today, I ripped up my three cheques. I will buy on market now, but will wait for the post SPP dust to settle.

After 12 years exploring at the ACRA Project, a few more select drill holes is not the answer. A JV to one of the big boys is the go.

Seven months in and still no drill holes on any project. But, I am still looking forward to the delayed Mavis drill program. Good luck to all shareholders.

PIO Price at posting: 3.2¢ Sentiment: Hold Disclosure: Held
18 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 162 more messages in this thread...

First 2 Last

Add ESS (ASX) to my watchlist

SPONSORED BY