North River Share Discussion Threads

[rampair] 12/12/2015 11:49

Keyman4 good morning to you ( & everyone)

Obviously Dr Beddows at 71 is an experienced and clever man & I too would hope that he would see the obvious shortcomings of NRRP's strategy at present.
He Invented a new way to recover Arc Furnace dust, to re process and extract a large amount of Zinc.
It works, but like all new things it takes time to perfect. I don't think he needs his Business legacy to include
a failure to " do the right thing" here at North River - I certainly don't expect that. North River isn't inventing
anything, it's a straightforward - discover, and extract the known resource, as simple as mining gets.

I would hope that now we have an experienced leader that can see the bigger picture - unfortunately in terms of mining Z.ox were forced to sell off their mining asset in 2013 They had a 52% interest in the Jabali
project in Yemen.

Dr Beddows though is an unknown - let's hope he wants his legacy to be fair as well as " green" an old article
but relevant in terms of background.
See: hxxp://www.cleantechinvestor.com/portal/aim-investor/6541-zincox-resources-plc.html

R.

[rampair] 12/12/2015 11:25

Discusser, your earlier comment on Drought - I take it you meant the shortage in Namibia of water?
It's a very real problem, where I live there is a Dammed River it is about as low as I've seen it, ever...
Occasionally you see an old bridge poking through - currently you can drive over it!

I hope we get water and power that is going past us to Husab, if not, it's generators & hope Namwater
gives us a bit of water.
------------------------
$1500 Zinc. This is around the cost of production, we need 1750 to pay our debt off & the DFS is 2400
We have a short lived mine, we expect it to be longer - we must not forget that we only have a short window
to sell our product,

Directors see it in terms of " Going concern" - Can we cover our costs and stay afloat.
We need to see it throwing off Dividends to get our capital/ profit.

[keyman4] 12/12/2015 11:12

You wold have thought that Dr Beddows, having learnt the hard lessons of his Zincox experience, will now be using that experience to rush in to save North River on behalf of its ordinary shareholders (who he represents). You would imagine that he would order that all unnecessary expenditure is cut and to preserve cash, since Namib is not economic and does not look likely to be in the foreseeable future given yet another round of China uncertainties. This will give him time to find another party to work out a deal with that unnecessary Greenstone debt we were burdened with. No strong and experienced Chairman would be so irresponsible to allow a company to take on debt it has no means of repaying. He will obviously be very keen to avoid the terrible choice he has just had to present to Zincox shareholders last month. He will also be shrewd enough not to allow stalling tactics from Greenstone by engaging in lengthy legal negotiations.

As the shareholders who built this project up, we very much look forward to the plan that our new Chairman is about to present to us, significantly before the money runs out.

[yellowthroat] 12/12/2015 09:31

D.Life is about debate and opinions mate. Don't like the way the elite make decisions about our money without consultation.As ever you get railroaded. Some would argue this happens with companies hence the comparison.This could be one hell of an expensive white elephant !RegardsYT

[discusser] 12/12/2015 06:09

All respect to you YT but I prefer the Met Office view on climate change. You may be right but they might also. Too big a risk. Bad news for companies using a lot of energy for little purpose (eg diamond mining)until carbon free energy a lot cheaper.

[yellowthroat] 12/12/2015 00:56

O/T I have been extensively digging around very sound sources concerning the future for oil gas and commodities and we could lose £40 trillion of global growth by 2040-50 because of what's happening now.

Let's hope some technology is secretly round the corner then to supersede the 20th century.

BP, Shell, duty and Vat on petrol, car tax etc.. Where the hell is the money coming from while we guess the earth in 2100.

Dear dear....

YT

[yellowthroat] 12/12/2015 00:51

Just seen your post Flu. Think you know better than anyone about why we didn't go all out on Namib 2009-2013 with prior management.

Mothballing would have voided the Greenstone raise and no one else was interested due to adverse conditions.

James made it clear that going nowhere would provide no value and likely lose the Namib awarding. Okay we can argue that.

Politicians I am sick of... Look at this impending stitch up on climate change that no one wants.

Watch developed countries offer Billions to developing so they use windmills instead of abundant and cheap coal, oil, gas etc....

Watch taxpayers pay for these nobbers as the earth cools anyway as we enter a sun cold phase of less magnetic influence. (EDIT and statistically proven due ice age)

Watch as this century potentially gets much cooler as we pay for the rest of the world to play happy carbon trading with yours and ours monies...

Got time on your hands, learn about it !

AIM isn't the only rip off ! (EDIT)

YT

[rampair] 12/12/2015 00:33

I am certainly NOT glad we were not mothballed - go and watch Hardtalk on Iplayer & the interview with
Hage Geingob. The Namibian President - they have an " Eradicate Poverty" Policy - & that's a laudable aim. Later
he agrees there is lots of poverty & " informal" housing - yet for 25 years he was Prime Minister. Go figure.


When Namib was viable they did not authorise it, now @ $1500 for Zinc & a bit more for Lead we are not
viable - in my opinion.

- why the heck you would want to bring in yet another corporate suit is beyond me. It's true that
Zox has raised money - they have until year end to come up with $5m clear of costs ($6m+ then)
Over Xmas....Korean Zinc have been amazingly supportive with large loans @ 5% and another @ 9%
- have a look at Directors pay, the " Working Cap"

The likely outcome according to the market is value destruction for existing shareholders - the Company was
at what 6p+ in November? today after spending well over $100m during its life it's worth 1m - that is a heck of an invention......
I'd call it the "Capital Reduction And Placing " Machine.

So, in short, mothballs, reduce everything & look to see what comes of the licence and maybe an opportunity
will turn up. Along with the Commodities.

Won't even start on BR, he's got enough problems, a moaning shareholder is the least I'd say - keep moving
every second day, only use cash - out of Cities & away from cameras.

dyor.
Apologies for errors,
R.

[keyman4] 12/12/2015 00:04

Zincox looks like a carbon copy of North River. So basically Dr Beddows has been brought in to do the same deal. In order for Greenstone to agree to reschedule/restructure its loans to North River (which were taken out to complete unnecessary work on a non-commercial project) Greenstone will then take control of 90% of Namib. Of course, it is not too late to prevent this this by cutting all expenditure, conserving cash, finding a new project, promoting the company etc. Perhaps Dr Beddows would like to make a statement in this regard as to how he will be looking after the interests of the ordinary shareholders of North River (as opposed to Greenstone).

[rampair] 11/12/2015 23:04

For the lazy!
hxxp://zincox.com/wp-content/uploads/2015/12/166635-ZincOx-Circular-As-PrintedFINAL.pdf

[yellowthroat] 11/12/2015 22:15

Quick look... 90 percent equity deals on non funding would have to wait till late next year for them to pay less than .2pence minimum and of course have to reach necessary approval levels in AGM vote.

Looks like 0.05pence is a quarter then of minimum price till November 2016.

That's of course whilst we get the licence and the capex through a number of parties for which James speaks of.

So pretty much a whole year or GS offer .2 to .3 before and must receive the vote and gain 90percent (not 75percent as I said before !)

In the meantime I expect us to get a funding away with the Docs' help based on project metrics and by then a potential year or two more resources.

Plenty of Net Cash thrown off for expansion during the projects life.

Probably all the rest is contingency in this environment to guarantee some value in the company !

Who is glad now we didn't mothball and we carried on on the insistence of Mr B.

No doing nothing and getting ultimatums late next year on continued funding !

YT

[snowyflake] 11/12/2015 20:26

A couple of things for shareholders to think about given today's announcement.

It is worth searching for the website of ZinCox and check who their chairman is.

That little job done then insert ZOX on advfn.

That little job done, look at the RNS of 30th November.

Look at the possible transfer of ownership of 90% of ZinCox.

[moreminer] 11/12/2015 18:31

Indeed Discusser,
If NRR keeps on spending, soon there will be a drought in the cashiers till! Worrying indeed.
Perhaps the new Chairman can talk the stock up and arrange for new funds?
MM

[keyman4] 11/12/2015 18:29

That would be great YT, but unfortunately the mine is not commercially viable at these commodity prices. His first jobs must be the stop the company spending its valuable cash progressing a project that is not viable, preventing Greenstone from using its coupon requirements to force the company into yet another disadvantageous financing deal with Greenstone, presenting shareholders with a clear strategy and path forward for the company, restoring confidence to the stock, ensuring the company publishes the results of its drilling campaign in 2015 without further delay, ensuring there is no conflict of interest of non-executive directors taking on consulting roles in the company, and there is no unnecessary expenditure like business class flights. That would be a start.

[discusser] 11/12/2015 18:19

I am increasingly worried about the drought.

[yellowthroat] 11/12/2015 17:39

He took part in a fund raising for IGE Resources when they raised 15USD million for the Ronnbacken Nickel Project.

It was a credit to equity engagement and is exactly what NRRP are looking for when it comes to Phase Two. (Convertible loans)

This will be ideal for a good proportion of what is required out of the remaining equity / debt element to get the capex and working capital to build the mine.

He is also a metals expert particularly in steel and iron ore. Amongst presumably other aptitudes and is used to leading financial advisory roles.

YT

[yellowthroat] 11/12/2015 10:15

For all you 'techies' out there Zinc seems to have found a bit of a bottom at just over 1500 USD and has bounced off it slightly despite all the noise about oil that was effecting it before.Interesting when market decides bad news doesn't send price lower in shorter term. Again all those technicals getting interested.YT

[yellowthroat] 11/12/2015 10:09

Lol Rich.Come on a fairly frank post of mine is only two posts back. No need to post whilst we clearly wait for news.Very good appointment IMO.The major concern for all mining, oil and gas is macro environment which is not helping in the slightest.Also the seeming intent that I gather to virtually 'shut down' energy apart from renewables at Cop 21 !"Little bit o politics!" - Ben EltonYT

[nufcrichard] 11/12/2015 07:22

"Dr. Beddows was a director Recovco Limited, which entered into a creditors' voluntary liquidation on 5 March 2009 with a deficiency to creditors of £6,516,981."

Sounds perfect. About 0.02% of me thought it could be the mining licence being granted today, I am not even sure that that would save us any more. I mean even YT has sold up and moved on, who's going to tell us everything is going great as NRRPs time and money is frittered away?!

[yellowthroat] 02/12/2015 14:00

Hi Chab mate,

Fair comments, I dont mind those my friend. I would say though that the reason I do not have any is that I HAD too sell don't forget as this was/is my only income.

I am in the position where I can hold what I have and intend to do so, I also intend to add as I think minimum 0.20pence to 0.30pence is where the story of NRRP will finish in the worst case scenario.

I dont see Greenstone liquidating in any scenario after ploughing in £7.5mn as they do not need too unless it got really bad in terms of the licence and / or longer term commodities outlook.

I still disagree with selling at below 0.10pence I can understand selling at say 0.30pence or 0.40pence whilst the shares still had material value.

Just opening up a debate with my opinion, selling at 0.053pence I just dont agree with. BTW it is more in support of those long suffering longtermers like yourself than any personal interest.

Though of course if we get the share price higher and raise more monies and the share price climbs more and I am able to buy then it suits everyone including me.

I now have other things occupying my time as well as shares, but still am waiting for good news here and trying to 'advise' anyone who wants to listen.

ATB

YT

[chablard] 02/12/2015 11:50

YT. Enjoy and admire your posts but you can hardly complain that pi's have sold over the years bringing the share price down when you have admitted to selling nearly all of yours. Pot calling etc etc.
Incidentally I haven't sold a one, just bought. So either brave or just stupid, and how ironic is it that I sold out of HER with a loss of 60 grand to buy more here only to find the share price sliding to almost 50% of HER's! !!!!!
I still say, and have said so over the period,that this BOD has no respect for pi's whatsoever. Disgraceful. Just goes to show when you back a CEO rather than a company (Martin rather than this bunch of #######), how one can come a cropper.

[yellowthroat] 01/12/2015 12:59

NB : the selling is not hurting me anymore as I have negligable shares in this now compared, it is in my interests for the share price to stay low as I can get more when the time is right as and when.

Therefore I continue in my opinion to give honest commentary.

the only danger is that for large holders and so on, the selling means it is a self prophesy that the company will find it hard to raise monies and thus the share price may be debunct at some point if there is not more confidence in the interim.

Of course the ridiculous licence issue needs to be sorted now, the government position is frankly pathetic in my view, if they are looking at a new system it should be for NEW applications and not historic ones where money has already been spent in expectation under the OLD rules.

The company should be arguing this fully........

YT