North River Share Discussion Threads

[discusser] 05/1/2016 13:48

Who are your gurus? Mine re the Met Office !

[yellowthroat] 05/1/2016 12:55

NB : Despite China shares rightly tanking as they are propped up bubbles, ZINC remains at an okay in the scheme of things $1546 which is still above the recent trough numbers.

YT

[yellowthroat] 05/1/2016 12:39

The international bodies that review ease of investment for overseas capital could start by downgrading Namibia, to 'doubtful' or whatever the polite translation method is too 'emerging market stitch up potential' alleged.

Political Risk I think they call it and measure it. We have been told that Namibia are currently changing or reconsidering a number of rules.

This can only mean that the new lot are contemplating how much they can allegedly 'grab' of all the minerals at home or award to domestic business. There needs to be a serious review into Namibia as a country IMO unless I am mistaken.

If that is not the case then they need to say so loud and clear.

People bemoaning the management should also consider emerging market risk, as this is currently cataclysmic for the share price and operations for this stock.

Second is commodities risk, China has decided to implode its metals cycle at exactly the wrong time for us. It has caused a melt down on outlook for all commodities and future demand.

However it does make a mockery of all the talk I read about China being massive and probably consuming all world commodities on its own by 2030. This area is fascinating and a bit topsy turvy.

As I said before the uncertainty over Carbon charging as the recent Climate thingy hasnt increased confidence.

Hollande was still talking about massive carbon charges in world and EU the other week. I guess it could tank supply of others ?

My guru's on carbon dioxide tell me it is responsible for about 4percent of world emissions and it has a huge positive effect on the new creation of world foliage and vegetation that grows like crazy in this environment.

Such a shame it got political in a Malthusian moment a couple of decades ago and the bureaucrats welcomed it with open arms.

I am now hearing that the latest wheeze about 'ocean acidification' ( because the world hasnt warmed for 19 yrs) is basically the PH has gone in the waters from 8.6 to 8.3 which is still massively Alkaline and also it is within measurement areas of error also which isnt taken into account.

My musings...

Regards

YT

[chablard] 05/1/2016 10:57

I also still hold my millions of shares and can add nothing to the bb as all has been said. Spot on Steve.
Good New Year everyone and let's pray that there isn't a bloody great iceberg lurking.

[rampair] 05/1/2016 00:47

Just for info, still not received any acknowledgement of my letter to the Chairman.
They were not in any way controversial questions to ask an incoming Chair to a small junior.
We still hold some NRR shares, as indeed we have for years! - a lot of things have caused headwinds &
I think that I've learned a lot, to say the least..

I hope Dr Beddows treats shareholders fairly - I think Shareholders have been very understanding.
I do hope that all the actors in this farce realise they have hurt real people's real savings, not just numbers on a corporate balance sheet.

NRR could still hold promise, but there are a lot of variables, not least Namibias strange reluctance to help
Licence wise apparently.

Zinc? Anyone's guess, maybe a nice new project ?

R.

[carter1110] 04/1/2016 22:26

Hi SteveYes a great post, thank you I too still believe and along with my colleagues still hold our shares and sit and hope that something still may happenAll the best to everyone and hope that the board are taking note of your posts

[moreminer] 04/1/2016 22:07

Hello Steve,

Happy New Year to you.
Great post, intelligent and spot on as always.
I am happy to learn that you have not fled the ship like many of the holders and are up for a fight.
I fully agree with you and we should not take the (legal) responsibilities of our Board lightly. I trust that there are sufficient ways to scrutinze their actions.
MM

[steve239] 31/12/2015 16:37

I haven’t posted since November as there doesn’t seem to be much left to say. I’m still fully invested here and, despite averaging down several times, my holding is now worth less than 10% of the amount I paid for it. At this stage there seems to be little point in selling out and risking the ultimate regret of helplessly watching a major turn around in fortunes while uninvested.

Clearly the actual prices of zinc/lead/silver in mid-2017, as well as the 12-month forward price projections in mid-2016, are crucial, as is the award of a mining licence. The other critical factor is the relationship between Greenstone and the remainder of NRRP. If Greenstone wants the company as a whole to succeed, then there are ways and means of achieving this. If, on the other hand, Greenstone is merely intent on taking as much of the company as possible as cheaply as possible, while piggy-backing its way to a mining licence, then the future is bleak for all other shareholders.

Personally I am still torn between two different explanations of the disastrous collapse of the share price, one of which invokes a mixture of hope and despair, and the other just anger and resentment.

Theory 1 is that the company has been largely a victim of circumstance, with regard to the collapse of the AIM resources sector as a whole and the reluctance of Namibia to award any mining licences. Even if this is the case, the company has clearly made numerous poor decisions (to some extent dictated by Greenstone) and, despite supposedly holding endless talks with the Ministry, James Beams is obviously not on their wavelength, as he has implied more than once that he thought the licence award was not far away.

Theory 2 is simply based on the kind of institutional thuggery that has been witnessed so many times on AIM. If Greenstone’s objective all along has been to acquire the company (or at least the majority of it) as cheaply as possible, with total disregard for the existing shareholders without whom Greenstone would never have had this opportunity, then obviously we have a problem.

In my opinion the nature and scope of the next fund raise will go a long way towards providing an answer to the above. The question is, who appointed Dr Beddows and with what intentions? If he is working on behalf of the company as a whole, there are a number of viable options associated with a small cash raise. Alternatively if he has been brought in by Greenstone as the executioner, then we might see an outrageous manoeuvre, most likely a share consolidation, effectively taking the nominal share price to a fraction of its current level, and a big equity raise at somewhere around the current share price, with Greenstone taking all of the shares in the form of high-interest convertible loan notes and effectively killing off the remaining shareholders. Should this kind of transaction take place, I think the circumstances could warrant investigation by the FCA.

Happy New Year!!

[rampair] 31/12/2015 14:57

Best of luck to holders of NRRP stock, it's been a case of Lions led by Donkeys IMHO - we tried our best to engage the Directors & at the farce of an AGM to have a Director say they couldn't afford to keep having meetings .-
They didn't have a plan B after the AGM because in this shareholders opinion the people actually running the company ( Brett having left, - finally ) most of the board defer to Greenstone in my opinion.

Ask the company what they are actually doing at present, other than drawing fees. How much FEED has been completed? I don't think it's got far at all.

Have they started drilling, or have they been looking for new projects?

Dr Beddows has made no statement despite being appointed Chairman as far as I can see. I do hope it's not another mouth to feed, I did send a mail asking some questions, but have yet to get a reply, although
I did get an initial response.

Push the Directors as much as possible, Namib is not bankable according to my maths & I would urge shareholders to get the company to change tack and look for projects elsewhere as well.

James beams is very well paid and will cover his investment with ease, get him to work for you.

I try to spend as little time on this disaster as possible, remain positive & look for other opportunities run by
competent small company Directors who have a track record.
Personally our shareholding reflects our attitude to NRR mgmt, low.

Try to have a happy new year & I wish you all a successful 2016.
Rampair.

[yellowthroat] 30/12/2015 19:14

Lead currently 1779.14 USDLots of talk about bottoming commods and weaker dollar on lame Fed curve.YT

[yellowthroat] 30/12/2015 19:08

Well Zinc is currently 1597.42 USD... An improvement of 100 dollars odd in a short ish time.Discussed, I haven't 'sold' in the true context I have had to lighten. I retain a number of shares that cost a lot of money at average .60 pence just refuse to sell them at .005 as no way is this going at under .2 or .3p eventually.We also still just need the licence and harder, confidence around Zinc and funding for Phase Two.NB : have never said things are great... Just not desperate...YT

[carter1110] 30/12/2015 17:34

Excellent post from other board
December 2015 at 15:57:27 GMT
LexiPexi

Dear James, The last private investors are getting out of this stock. Might that be the result of a failing Board? Or is it just in line with the larger plan in which you take part? At accepting this job you have promised to protect the interests of all shareholders. So far your promise could not have been farther from the truth. All you have done it seemed is sell out our company. In 2018, the expected time of revival of the zinc price, one shareholder will have over 52% of the stock of the company that we private shareholders have supported over the years. If we even will make 2018 and not drown earlier because of the burden of the high yielding bonds you have signed for. The newly appointed Chairman has not in any way communicated with the private investors. Not even one word after him having accepted the job. That is a disgrace. You as Director find that acceptable? Maybe the events of the last 12 months were not fully illegal. But it does seem highly immoral. So these dark days between Christmas and New Year I wish you can take a moment for yourself and rethink the the results of your doings of the last 12 months. The impact of the tanking share price of NRR on us small investors has been brutal. I wish you all the best in digesting this. I would not gladly trade places with you and get myself crushed on this burden of guilt. Still I prefer that you to prove me wrong and that you get our company on track. Shall we say a share price of 1 pence by the end of June 2016? Happy New Year.

[yellowthroat] 23/12/2015 12:09

2016 Hope...

Commodities seriously improve !!!!!!!!

YT

[yellowthroat] 23/12/2015 12:08

Post from FLUs on III

I agree with your assessment Matt - unfortunately we have been relieved of our interest in the
Company.
Where does NRRP go from here? - that's up to Mr Beddows, his Chairmanship is probably the last opportunity for the Company to have a serious attempt at this project in its current shareholding structure.

On top of all the Corporate stuff, we don't have the darn Licence! - I don't have a clue about
what is going to happen regarding NRR - all I see is fiddling about I see our Chinese Shareholders have some new friends, clearly not us.

hxxp://business.financialpost.com/news/mining/fission-uranium-nears-landmark-82-million-investment-from-state-owned-chinese-giant-cgn-mining-company-ltd

Personally for a while we have moved our interest to other shares & would suggest to all investors - don't get too stuck on one share, there are some good companies out there.

Good yields from massive companies, RDSB? Bombed out miners, Anglo, Rio,
BHP, or have a look at BKY.

Not advice, just for discussion.
Hopefully NRR will keep its head above water. Not just for paying out on Tailings studies GLA.

FoolsLikeUs.

--------------------

[yellowthroat] 22/12/2015 16:24

Yep Happy Christmas.

Jan to March needs to see a licence.

The sit on monies theory revolves around people giving them admin money to do nothing for months. customers wont do that. Greenstone expect their $4.0mn to go on project funding.

ZINC holds still at $1500 circa and Lead is consistently higher.

Pity Silver as such a big commodity like Gold is so atrocious after it being $30-40 dollars in 2013.

Looking into commodity bottoming talk at the moment, jury is still out, but China still growing next year at 6.5 say and India to come as well. We will see.

Could do without China continuing to subsidise its own over-capacity running at a loss. With this out of the way supply equation looks very good.

Regards

YT

[1mack] 22/12/2015 13:16

Many xmas guys. Well all our loved ones are getting a lot less for xmas after this investment...

[keyman4] 16/12/2015 11:08

The licence would be nice to have, but isn't the main issue. What if there isn't a recovery in the zinc price over the next year? The company have to plan for this as it is more likely than not. Spending money for a notional mining decision when the project is not fundable simply dilutes minority shareholders, and puts the company into distress. Dr Bellows needs to provide a clear strategy going forward (that does not assume Namib s going to be built any time soon, and restore confidence to the stock. I just really hope he properly understands the dynamics of junior mining, the appealing cost of dilution on shareholders with the stock at such a low price, and how to properly promote a stock. The problem with North River is that there are no seasoned junior miners in the company, and it shows. If Dr Bellows can turn this around to restore value and confidence in the stock, without being manipulated by Greenstone (and those directors on their pay role), then he will be a hero. If he turns out to be just another Greenstone flunky, then that would be an ignoble end to his career.

[1mack] 14/12/2015 17:55

Is the Dr a Greenstone appointment? Will they regain our trust in 2016?Trust is everything for shareholders...Can they all redeem themselves and get mining, earning and expanding!Only time will tell... the share price could quite easily get back to 0.4 and beyond with a fair wind on the zinc market and license

[keyman4] 14/12/2015 09:44

They had a long look at the trailing two years ago and decided they were a no-go, so why be spending what little is left of our precede cash doing it all over again? It looks like they have been ordered to spend the money as fast as possible to expedite Greenstone's next stitch-up, which is shocking. Our new Chairman, having been through the Zincox disaster should be well aware of the need to conserve cash while trying to find a solution other than handing over the majority of the asset to Greenstone. By the age of 71, you would have thought he would be his own man, acutely aware that his first duty as the Chairman of a public company is to shareholders. He also clearly needs to be reaching out to his shareholders. It is probably about tie the authorities had a proper look at what has been going on at North River. Private Equity funds should not be allowed to come in a strip assets away from un-sophisicated shareholders in this way.

[keyman4] 12/12/2015 23:35

Lets hope Dr Beddows is honest, has integrity and is here to re-build value for shareholders. Greenstone is obviously lining up the screw the company once again by throwing the company into distress (again) and imposing their absurd financing structures on our little company. The question is has Dr Beddows been brought in to do their dirty work for them, or is he a company builder? This is a public company in which a lot of small savers have lost money. As our new Chairman, it would be good to hear his message.

[snowyflake] 12/12/2015 15:04

In my opinion and with the benefit of hindsight,investing in NRR was not a mistake until the Greenstone deal.

[discusser] 12/12/2015 13:45

What's the best book on how to value a company (for a Christmas present)?
I'm getting the Charlie Munger book. I think he would have said NRRP was a mistake !

[discusser] 12/12/2015 13:45

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.