North River Share Discussion Threads

[1mack] 27/10/2015 10:29

Notice on Mark Sawyers linked in.... specialist in mergers! oh and taking things over dam cheap

[rampair] 27/10/2015 09:11

A lot of this has to do with the 2016 mining law in Namibia I expect.

There is a nominal date of the end of October, but there's a nominal price of 0.2p on the share certs!
Most talk of mining is of doom and gloom at present, today, according to my newsfeed the mining industry
As a Whole...is worth less than Google & Apple combined ($1trn) this figure is clearly indicating, that,
I would humbly suggest - things are just a little out of balance!
in my view at least, the company has stopped promoting itself most of this year. We all have a view on that & we tried to do something about it - the metal is in the ground, the money is there at present.
To keep the ability to continue, the company should not employ new staff, Namibian staff should be kept on.
All flying to Namibia should be done on economy not business class, preserve capital should be priority
number 1 until a mining licence is signed.
We should also consider mergers and any options to have any other prospects.
Keep the lights on low, and cut costs ( if necessary salaries) it's no good having the happy high quality staff
with nothing to run.

Anyone sent in any questions?

[andytools] 27/10/2015 06:05

It's obvious what is happening here. This is Africa. Some corrupt government official is demanding too large a bribe. NRRP won't pay it. The whole thing is a two bit operation for a larger concern so they are just sitting on it

[yellowthroat] 26/10/2015 18:34

Well we are not there yet, and once we are I believe that it is just a few days short of a conference call?

I guess the company will announce its next action plan on or around this date, as certainly the market will be looking for clarification, even if it is just to state that the Oct 31 is nominal and that a review plus a new date may then be put in place as a contingency.

We may then get further comment on whether the board feel that they might have to boost the non-phase one working capital in the interim so we can do as FLUs have advised and sit on the project for a month or two.

I know James wants immediate action and time is money but we could certainly see if the FLU plan is any better in terms of looking for some consistency in the commodities market and pricing and certainty before we try for Phase Two equity funding and subsequently Debt Funding / offtake.

Would hope that the logistics of delay are spelled out to us and all issues pertaining to this are reviewed and covered.

The company will certainly not be going bust but I suggest Namib 2092 will continue to be the focus.

I know James will be doing his Nut metaphorically so lets see to Oct 31 and the potential news of Call-in to shareholders.

Irrespective sales at 0.14pence is ludicrous in the extreme and talk of bankruptcy is unlikely with our largest shareholder now sitting on £7mn plus, invested in equity and debt. IMO

NB: With GS stating they have £100mn plus in their fund.

YT

[nufcrichard] 26/10/2015 09:58

I have edited my last post.

I don't think it is that dramatic or overcooked though, we are skating on thin ice, trading well below nominal share value, 5 days before reaching an assumed date that we will have the licence, otherwise our funding plan is no longer valid.

"The Phase One Fundraising requirement nominally assumes for planning purposes that the Company will receive the Mining Licence on or before the 31 October 2015"

[chablard] 26/10/2015 09:01

Think your over cooking those eggs Richard. No licence by the end of this month does not mean the demise of North imo.
Just wish that James would not join the ranks of practically every other aim CEO with his " ifs, buts and maybes " based on no more than the previous " ifs, buts and maybes " announced over the past two years by the company. Especially when asking people for monies ! So if his predictions are no better than Madam reading tealeaves down the local fete he should,as they say in the States, zip it. IMO
So hopefully licence by end of the week.

[steve239] 26/10/2015 08:32

Dramatic predictions of doom based entirely on personal assumptions should probably be followed by the initials IMO.

[nufcrichard] 26/10/2015 07:25

This week is quite important. It might not be armageddon if there is no licence awarded this week, but you can write off your investment, a board that raises money at very low levels, based on false assumptions will not be leading us to production EDIT IMO.

I will give them the benefit of the doubt until November 1st. If we don't have a licence then, then all of our worst fears will have been confirmed.

[donk4] 25/10/2015 21:20

Why is this week any different from any other week? Are you set on 31 October and that armagedon wil follow if we do not have te licence by then? Re read the announcements - 31 October is a nominal date not the be all and end all.

[1mack] 25/10/2015 20:07

This week is massive for north river resources!!!

[1mack] 22/10/2015 21:05

Good point pinky. Africa.... Well enough said!!!

[pinky37] 22/10/2015 08:45

You should never put a deadline dealing with a government dept in an African nation....Big mistake Jamesy boy

[1mack] 21/10/2015 17:15

Still nothing....

[chablard] 20/10/2015 10:42

No point in in fooling ourselves that if this goes belly up for pi's that GS are in the same boat. Doesn't matter if they have invested 7 mil or 70 mil mil they will come out of this ok after altering their strategy these past 12 months, and will be in a position to buy out Namib for a derisory amount. How many millions had been spent at Namib before they turned up.!!! Bit like buying a house where the previous owner has gone broke before the building is finished and getting on the cheap. As far as JB is concerned, his buying at and not until the share price dropped to .2p has little to worry about as if we don't get the effing licence soon this is the price that GS will probably pay per share. It's us that hold tens of thousands of pounds worth of shares at three or four times that price that will be shafted.
The aim market has become no different than Ladbrooke or any other bookies. What was yesterday's looser becomes today's winner and on and on. Get in early and get out early on a day to day bet.
Believe me no one wants this to succeed more than me. Lost an absolute fortune on aim these past six years, and finally when Martin was at the helm thought I had found THE share that would pull me back.
As far as Jo visiting the site. Looks like it's the only PR we have had in a year and that was a one line twit or tweet or whatever. Probably asked by James to remind the Ministry that there is a mine site at Namib wanting to get on and mine. Hope it works. 20th October today James, so how's it going?

[yellowthroat] 20/10/2015 00:16

Carter,As I said you have to be a member or purchase their document it is a city rating agency or something.I therefore suggest it is unlikely.Funnily enough we haven't seen any broker analysis for quite some time since in 2013 an old broker had a full investment NPV analysis.We have only the company data from the revised DFS to go on currently in terms of financial expectation.It is though based on Zinc 2300 or 2400USD.YT

[carter1110] 19/10/2015 23:35

Thanks Gents
YT yes your comments re Omnisciences is what I saw and wondered if any one had any further information about their tweet and potential views and information that they have

[yellowthroat] 19/10/2015 23:25

Rampair,

Please expand on your theory of stalling till next year say? As the company will have no revenues for another significant period and the cost of running the company at normal levels is £2-3mn a year depending on....

I understand your talk on the negative debt situation in terms of predicted pricing or current pricing but surely they will work off a fair price prediction for when it is producing, IE 2017 or it will be a percentage of the price achieved on sale ?

The second fund raise should now not be till Q1 perhaps and in that time we have the potential for re-rate on licence, plus the chance for it to become clearer on this current commodity rout and for some push back in prices ?

Difficult I know but surely they are committed to the project and we are spending monies on 'live data' and plant items so we need to GO as it were.

Another six months and £2mn more in cash raised or whatever means another X shares and the project dynamics will be getting worse on EPS not better unless GS continue to allow some sort of Debt reliance and them taking the risk ?

ATB

YT

[yellowthroat] 19/10/2015 23:19

Carter,

If you search North River on Twitter you are searching for all notice of NR on Twitter and therefore all the latest Tweets.

There has been another one since the Jo Lomas one found by Steve, in it a company called Omnisciences state that they do investment research and give a confidence level on the level of security around debt and investments and so on.

It is some sort of investment house or credit agency that presumably gives some sort of confidence rating on investing in certain companies, you appear to have to be a member to benefit on what they say as regards North.

I suggest you have as big a range of opinion in the market as you do on this blinking BB... LOL

I guess the people in the direct know... are China over their economy, the mining minister and potentially James and Mark Sawyer. Everyone else is just guessing and knows about the same as some of the more informed posters on this and the other BB I would think !

All depends on :

1. Licence
2. Phase Two Funding
3. Point two influenced by China and commodities.
4. Phase Two being IIs that are not GS or they will have to buy the company !
5. Unless more debt in the form of convertibles is issued.
6. If Taurus finally buy more and/or RFC do something for us, for their dosh !

Regards

YT

[rampair] 19/10/2015 23:19

The lady on the left was in the Mine delegation so may well work there. Any Govt help from UK is useful.
However price is our master and the offtake agreements will be key to our debt terms - if costs are
$1500 ton, plus silver credits minus the iron content, 30m debt to pay back @ 10% or so plus Gstone payments - we have to be realistic with a shorter life high grade ore - park it until it's worth something.
Don't give it away - that's what Glencore have just done with 500ktons of their Zn.
Maybe take their lead?

[carter1110] 19/10/2015 22:21

Yt, Chablard,Nuf,1 mack etc ....
I've just clicked onto the link re Twitter previously mentioned, when I search North River Resources I can see a recent post with regards to North River Resources Plc Confidence Index, is this anything and what is it all about
Thanks

[yellowthroat] 19/10/2015 16:00

Excellent find Steve, agree with you as ever.

YT

[nufcrichard] 19/10/2015 15:46

Agreed, that is good news.

[1mack] 19/10/2015 15:30

Wow that tweet is great news

[steve239] 19/10/2015 15:13

I totally understand the frustration and anger, as it’s unlikely that there’s anyone on here holding a bigger loss than I am, to add to my massive losses elsewhere on AIM.

At the same time I don’t see any reason at all why Mr Beams would invest £100K and Greenstone would continue to shell out millions (albeit at a fraction of the price they should have paid) unless they were totally convinced that the licence award was just a matter of time.

For those who haven’t given up, there’s an encouraging tweet from 1 hour ago from Jo Lomas, British High Commissioner to Namibia since 15 September, stating:

“At North River Resources lead zinc mine near Swakopmund. Will support 300 Namibian jobs when this gets producing.”

Below her tweet is a photo of her at the mine with a couple of people whose identity I can’t make out.