Medusa Share Discussion Threads

[rhuvaal2] 19/11/2019 18:45

as said previously, Ruffer increased its' large holding during the summer: 30M to 32M I think. How does it justify such to the stock holders.....?

[tightfist] 19/11/2019 16:51

Sorry to sound like a broken record - but minimalist-shareholder Teo blunders on squandering OUR CASH - one gets the impression that the projects are adopted around a bar in cosy Perth - is there anything said to the contrary? Meanwhile brave (personally inconvenient) frontier stuff like Cambodia is walked-away from.
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When are the ii’s going to wake-up? tightfist

[stevea171] 19/11/2019 08:47

What have I been saying about these Qld projects from day 1? They have no clue about projects or exploration. Waste, waste, waste time and money ....

Also this announcement very conveniently comes AFTER the AGM by a couple of weeks so they can't be held personally accountable. When did they know?

Cambodia was Boyd's project. cancelled.
Qld is Teo's. Even if they found something it would have taken 10 years to produce it's first once of gold. That's the industry average. cancelled.
Where to next?

Why not buy into a JV that has a gold resource that needs further exploration and development that can quickly become a producing mine?

Instead, no clue Teo blunders on with these green field follies.
And the ii's think this BoD's is doing such a stonking job they should be endlessly rewarded ....

This company and its backers are a cesspool of fools.

[tightfist] 18/11/2019 09:55

I think the mistake we have all been making for years is that the MML BoD are capable of thinking and acting like Shareholders of a PUBLIC company - WRONG! and I don’t believe I need to repeat the countless examples of contra-behaviour.
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My patience was snapped by the recent assertion that the Service Shaft was NOT designed for ore hauling - patently untrue - yet another example of non-accountability.
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OUR CASH is just siphoned off at will. Maybe there is communication with the large ii’s that is keeping them sweet and if so in due course PI’s too. If not something has got to happen....
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Cheers, tightfist

[deka1] 18/11/2019 07:42

The board holds very few shares ,I think some posters on here hold more than them,
that does not send a very good signal to the market though,why is it they won't invest in the company they work for if the future is so bright,the only reason I can come up with is a T/O is on the cards down the line.

[rhuvaal2] 17/11/2019 09:23

I have a feeling that the BoD must have promised a cookie or have an arrangement with large insti's to do something positive here.. doesn't really make sense otherwise

[stevea171] 08/11/2019 10:39

Tightfist. There are only 3 directors at present although the new CEO may qualify at some point if he does everything Teo says. So, voting to reappoint directors:
Teo came up last year
Roy this year
so most likely Villaneuva next AGM
then back to Teo again
It'll be a long slog .....

Imo the L16 shaft is back on the drawing board but Teo is keeping it secret for now. Especially till after this AGM was out of the way and they can look forward to spending all the cash flow unopposed on the mine as has been the case for the past 6? or more years with the new oversized mill, services shaft that had to be redesigned whilst in build, ventilation system and countless other expenditures.

[tightfist] 08/11/2019 09:11

Steve, Thanks for your reflections, MiningNut was accurate in reading the situation. Unfortunately the major ii’s clearly don’t have the stomach for imposing a fresh BoD. I don’t perceive a Turkeys voting for Xmas scenario, just a plump Pheasant left in the field when the shooting season has just closed!

More to the point, the close voting outcome on Res.1 SHOULD shake the BoD out of their complacency (comfort) zone? However, Leopards rarely change their spots!
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Unless something happens the accumulation of cash will become embarrassing and we must surely foresee an share price increase, if nothing else. If they wish to justify their positions and overly prudent stance, one can foresee the early launch of a ludicrously expensive deeper production shaft initiative/Capex liability. Or other ways to fritter away large amounts of OUR cash..... rather than some form of long-awaited shareholder return.
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When is AT next up for re-election? Is that now our next opportunity for change?
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Cheers, tightfist

[gazz2] 08/11/2019 08:19

deka,

I held 5000 of these at £5.60 a few years ago.....

[deka1] 08/11/2019 07:08

Thanks for the comments guys.

[stevea171] 07/11/2019 19:52

HC poster and large investor Miningnut proved right?

He was of the opinion that the AGM vote against the Director Remuneration report in 2018 was more to do with the remuneration package of the Philipino director, Villanueva, than the performance of the company and the directors themselves. I don't know how he would come to this opinion other than speaking to some insider.

More recently he was of the opinion that a Board spill vote was unlikely because the top 3 ii's are not activist institutions who would play a role in removing a Board and setting up a new one. He saw them as passive investors and their voting today has born that out.

The Roy Daniel's vote is a strange one. Not enough votes to remove him but enough to give him and the Board a shock. The ii's we have here are very timid despite all the failings of the company and these directors. Turkeys voting for Xmas?

[tightfist] 07/11/2019 16:56

I have to say I am astonished at the votings, let alone the outcomes. Voting people (ie shareholders) were obviously awake as the close run outcome for Res.1 RD demonstrates.
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It remains a mystery (to me) how Res 2: drew such little interest UNLESS it literally/strictly was seen solely as a Remuneration Report vote by a responding jobs-worth rather than (as this BB saw it) a meaningful confidence vote in the BoD? Or some powerful reassurances were given to the large ii’s that won them over?
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Anyway, another year beckons during which to fantasise about what would happen if a small amount of OUR cash was to be put into a share buyback…..
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Or something is going to happen and an ulterior motive is being worked behind the scenes...... That's more interesting! tightfist

[swallowsflysouth] 07/11/2019 12:22

Having looked slightly deeper into the vote it looks fairly split, however what i do not understand is this, if there are over 200m shares but roughly only half have been included in the vote count. Can anyone clarify for me why 100m votes have disappeared into thin air ? I am obviously missing something.

[deka1] 07/11/2019 08:23

NO--- what are the major share holders upto,why don't they want change, that's what we should be asking.alterior motives perhaps.

[swallowsflysouth] 07/11/2019 07:46

nothing changes

[stevea171] 05/11/2019 08:55

Hi Pippin. Even though our votes are relatively small they will all count to send a message to this BoD's that their performance is unacceptable.
Voting is now closed so we can sit back and wait for the AGM in 2 days time and the overall result.

We can have no idea how the top ii holders will vote but they can't be too happy with the share price performance and their investments going nowhere. This along with the company being run solely for the benefit of the directors, managers and the Philipino workforce, with no regard to shareholders. atb.

[pippin99] 04/11/2019 22:03

Hi stevea171! Thanks for your reminder. I have followed your advice and voted accordingly. Let's hope we get a dividend and a share price edging up to the "good old days" level.

[crossing_the_rubicon] 04/11/2019 09:06

Nope C9AJL.

[c9ajl] 02/11/2019 21:19

Anyone else managed to vote via ii.co.uk?

[stevea171] 02/11/2019 13:17

Last call for AGM voting. Last chance in years to get this clueless BoD's out.

Some holders here have reported that they have voted. Some may still be considering whether to vote or not.
I have voted my shares AGAINST Resolution 2 (Remuneration report) and FOR resolution 3 (Spill Meeting).

Voting is available online: www.investorvote.com.au

Plse see voting detains in Post 37962 above.

[crossing_the_rubicon] 24/10/2019 12:42

@Steve

Because that is how business works in the corrupt Philippines.

[stevea171] 24/10/2019 07:51

Q3 result comment from McNoob (HC):

Ok so let me get this straight...

Medusa Mining Ltd (MML) pays:
The local high school.
The local hospital.
The farmers.
The bakers.
The aqua-culturalists.
The water filterers.
The 40 scholarship students.

Everyone is getting paid a cut from the company's profits. Except the company's actual OWNERS!

Why is everyone getting paid except the actual owners?!

What kind of upside down topsy turvy world is this?!

Where is my dividend?!