Link wont open so change hxxps to https |
Whom is investigating it? |
I believe it is now being urgently investigated |
He is spending shareholders money so he has a duty to inform shareholders of the results in a timely manner. |
Why is Sale being allowed to withhold assay results prior to vote |
 Interesting post by Chuteless on LSE earlier today;
I think that lack of interest is well past now judging by the buys/sells in the last 3/4 months.
I've been trying to rationalise why they wont release results in their possession for nearly 5 months now and I keep coming back to the deal with 79th group deal, I have recently asked if they will release results before shareholders are asked to vote on the deal and the answer was "maybe" but also a bit disingenuous saying the two are not linked as the deal is about securing funding for the future, but to me as a shareholder it is most relevant as in simplistic terms we are selling 51% of the value of FCM. The results show us ,the shareholders, the current value of the company and if £2.18 m is the correct amount for 51% otherwise why put out videos saying the company is about creating value by discovering assets and sell or JV ???. getting back to the deal, 79th have been in the data room for nigh on 10 months now and I would assume have access to the results of both Sunbeam , N hemlo and value this distressed company(maybe 30% discount) at £2.2m for 51% which puts the value at approx £5.7 m (top end)
throw in the additional shares total of 228M that puts 79ths current value of the company at 2.5p . they obviously think it will go higher with future exploration as they have agreed warrants of 5p and 10 p within 3 years.
I don't buy the bad results so hide it as there has been ample opportunity to bury that in the last 5 months.
I used to like how this was managed but am getting a lot more nervous as results fail to appear, If the assays remain for 79th eyes only before the vote then I shall endeavour to vacate at the first opportunity
All IMHO and Just musing
Ends |
I agreed in parts about capital intensity & targeting a specific part of the value curve but was less impressed with incubator concept. Seems irrelevant in current conditions. POW/GMET is the obvious comparison worth conservatively 50% less than the sum of the parts. The underlying issue is the market won't provide funding at a fair price for early stage projects hence FCM over the barrel with 79G. The lack of funding means everything gets done at a snail pace & too many projects to feed. The market wants highly focussed & de-risked projects eg RMR, GMET where drilling has produced proof of concepts & markets are happy to fund resource drilling. I just hope FCM/79G cash is sufficient to make discoveries at North Hemlo & Sunbeam otherwise FCM is in real trouble. |
Update from James Knowles https://youtu.be/I54QemDCRow?si=17BZNtLBUx9uLX7P |
Seventy Ninth Global Deal - future looks very bright, has anyone done a deep dive into the seventy ninth group? The money within the company and their access to global investment is absolutely massive. Im voting yes to their investment into FCM and expect very good moves on the share price in the medium to long term. |
Absolute tosh, not working with anyone. My only agenda is shareholder value & not getting screwed over. If BoD wants to avoid speculation then transparency is the best option. |
How very dare you |
Chutes, funny how you’ve gone from slating to buying in. Hard to take you seriously when you’re just a flipper. Stick to one side and maybe you’ll earn some respect, kind of shows all for what you are. |
Adding at this level now |
JP2011, your claims are not only baseless but laughably defamatory. Suggesting that the directors have set up another company to exploit FCM and its shareholders is a desperate attempt to stir up drama without a shred of evidence to back it up.
Most directors of listed companies have multiple interests outside their primary roles, and there is no evidence of any conflict of interest or inappropriate behaviour here. This kind of baseless rumour mongering only serves to distract and create unnecessary doubt. Which is what you and the people who you are working with are trying.
If you’ve got hard evidence to support your warped conspiracy theories, by all means, share it. If not, perhaps reconsider the damage unfounded speculation causes to shareholder value. This board should be about facts, not your personal agenda. |
It has everything to do with FCM shareholders.1) FCM pays their wages2) Dilutes their effort into FCM3) Potential to compete against the plc4) Lack of clarity about aims & objectives5) Using FCM to pay their expenses?6) Sourcing new projects & then flipping onto FCM? |
Johnsmit
Keep guessing and worrying about what I’m doing and why are you worried about what I’m doing. I want the share price to go up but I just can’t see that happening in the real world. Those living in fantasy world happy clapping have a different view!! |
If soul is picking up on my grammar , what does “vies” mean on gimmies post?
Gimmie is just annoyed at life. Consequently now sits on his backside moaning.
The chairman and CEO having a company elsewhere has 0 to do with anyone on here. You can make assumptions, but what’s the point. Clutching at straws.
Bodi, your sitting in your armchair, slagging off of a company you hold shares in.. it’s just bizarre.. |
Is Sales work done here
Is he off to smash something else |
Soul exactly, happy clappers who are being led by a pastor on the FCM Telegram group where many who have alternative views have been removed.
Let’s see how long they keep clapping singing Kumbaya before the penny drops!! |
You're (short for you are) not your johnsmit.
My view is balanced here, if it doesn't suit the happy clappers or uber bears so be it.
Might be a good idea to take those rose tinted glasses off and give them a much needed clean. |
Sail off you mean Sale off 🤣 |
You do realise CEO & Chair set up a new exploration company on 18th Dec, about the same time they announced 79G deal. |
Soul your on the same boat at the Bodi’s I see (gimmie and Chutes), well let’s hope you sail off into the sunset never to return again.. your just a bit of a Wally imo. |
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