Vane Minerals Share Discussion Threads

[martin c-j] 02/7/2013 20:37

Yup, the price was 23p. I was building my own house at the time and took my eye off the ball. I would have just taken a loss and got out if I was doing it today. I am older, wiser and a lot poorer now.

[rmart] 02/7/2013 16:02

Ouch ! I'll bet a bit over 5p ? Anyway if youve averaged down you should be ok.

Nice turn around today and some buying going on,, at last !

[martin c-j] 02/7/2013 15:56

rmart - the majority of my holding I bought for under 1p, but my first purchases were from March 2007. Would you like to guess what I paid??????

[rmart] 02/7/2013 15:10

a few buys going through, maybe we have seen the bottom now ?

Martin_C-J, you sound like you hold quite a few at a higher price ? Not sure what your price is but I am confident it will go back to over a penny. Even with the new shares it would only be a £8m market cap.

It is really down at the moment but it could shoot up with some progressive news after the £1.4m comes in.

[martin c-j] 02/7/2013 14:09

I emailed Matt on friday, but haven't heard back from him. It really is depressing to see what is happening, and how quickly it has gone pear shaped.

[martin c-j] 02/7/2013 14:03

Did they actually raise the money? How do we know if it was fully subscribed?

[kiwimonk] 02/7/2013 13:43

Anyone managed to get through to matt? And what the plan is with the new monies raised?

[rmart] 02/7/2013 10:26

Well I believe Matthew will get us moving forward again. The £1.4m will be used wel and will create good news imo.

I think I may top up with a few more his week.

[martin c-j] 02/7/2013 09:55

Many thanks Sage for your comments. It only confirmed my beliefs, sadly.

[combo83] 02/7/2013 02:03

Sage, I know it's not worth much but I'm pretty bummed to see you still own these. I posted in 2012 that I had sold out because they had no drilling plans and had entered "cash preservation mode" -- which was definitely not consistent with the self-funded explorer status which was the basis of my optimism.

When DN gave this interview to minesite last November there was a large drop in the share price and a lot of debate on the boards with many regular posters confirming they had decreased their holdings: .

"Previous drilling on potentially huge copper targets in Arizona came up negative earlier in 2012, and at the same time the equity markets and in particular the appetite for exploration turned negative. In survival terms that doesn't present too much of a challenge to VANE as it also has useful gold production out of a joint venture in Mexico. But for the time being the big ticket exploration was put on hold. "We paused", says David, "for reasons of good old fashioned financial management. Realistically the business is funded, and is going to be funded out of Mexico. I don't want to go back to the market unless I have to. I don't think that's fair on shareholders."

That was one of the first signs that things weren't going quite to plan. To be fair, their subsequent updates all suggested they were struggling. The fundraising and dilution didn't come as a surprise.

With gold and silver prices so low and still no signs of a new porphyry exploration programme, it remains to be seen how they are going to turn things around.

all imho

[sage of suffolk] 01/7/2013 22:20

I attended the AGM.
I bought the shares as Combo, particularly on PGD thread, seemed to knew what he was talking about. Having met the management, I wish I had avoided this company!
DN is leaving for personal reasons. Matt was unable to answer almost any of the early questions, so DN had to step in; he was much more impressive.
The Chairman read from a prepared script, and was clearly only in role due to his title.
Cash is tight. I thought about suggesting Matt's £120k salary should be structured on more performance related basis, say balance over £70k payable once share price over 1p, but I concluded this would have been pointless.
The chances of a UK company gaining an, even partially, successful litigation outcome against the US government must be near Nil. So that case will be in the long grass for years.
There "self funding" claims from last year are in tatters, after massively diluting us at such a low price.
All in all, I was less than impressed.
Sage

[martin c-j] 01/7/2013 10:23

I guess no one went to the AGM, so we are none the wiser why DN is leaving and why the company has gone off the rails. I have an email in to Matt, but he doesn't reply to emails as quickly as DN.

[loverat] 29/6/2013 09:13

I am just doing some research on this company. It is quite interesting and has lots of things going on. I might be back.

[rmart] 28/6/2013 15:31

Thanks bozzy_s, much appreciated link.

[bozzy_s] 28/6/2013 13:35

rmart re 820. You can view trades in the secondary (ISDX) market on the link below. It's nothing to do with market makers who buy/sell your stock. The issue is ADVFN only shows trades via the main market.

There's a 119,770 and 119,907 this morning:

[gazza102] 28/6/2013 11:53

I agree with you Martin about not coming clean - I have been saying we need information for the last six months - Not information about databases something about plans etc....

[martin c-j] 28/6/2013 11:31

I think DN is a class act. He was always very prompt at replying to emails. I never had to chase him. Matt on the other hand is a bit more of a likeable rogue. When you track him down he more or less answers your questions, but he is not always good at responding. And if you followed Matt for inspiration from his director dealings you would be out of pocket, as is he.

I think DN has been asked to leave so they can save some money, but hopefully someone went to the AGM and can give us a report. What I find disappointing is that it takes a face to face meeting with management to get a better idea of progress. I can't trust any RNS's any more as I feel they have held back the truth since September and not really come clean yet.

[gazza102] 28/6/2013 10:40

You might say that. But I disagree - I think Daivd Newton would have told them the truth that they have no money etc. I think they where living beyond thier means a bit. Should have sold assets earlier, got that third party on board earlier. All in all made some bad decisions and have not been lucky. But hopefully they can turn it around. Goodluck to them.

[rmart] 28/6/2013 09:36

Would it not be fair to say it has gone wrong since David Newton came on board ?. After all, he has not lasted long. He is being replaced at end July. Maybe this was the problem ?

[martin c-j] 28/6/2013 09:20

Yup they turned the corner alright and then went very quiet as it appeared they were on the wrong road completely. How could they get so lost after apparently getting it all together in the interim results.

[rmart] 28/6/2013 08:54

MM'S AT IT AGAIN, JUST BOUGHT 120K AND NOT SHOWING... AGAIN !

[gazza102] 28/6/2013 08:53

what wonderful news!!!!! At least it's news

[kiruna] 28/6/2013 08:50

I think this database have done more harm than good. With this db it will always be something else that is more interesting to drill.

[rmart] 28/6/2013 08:37

Good RNS.

I am happy that at Matthew will get us going again. IMO we will see over 1p here later this year or early next. I will add as cash allows.

[opaldouglas] 27/6/2013 22:31

Combo83 - still here watching with interest, not a great deal to add to proceedings currently. Its been a spectacular fall from grace having watched Vane turn a corner last year.