Perring isn't exactly whiter than white, Bumpa?
'Short and distort' ? |
Bukowski https://youtu.be/Rp5fQy1o7jc?si=jj32SprceWpT6z0t11.20"Potentially in production from the underground mine middle of next year.."...potentially then !!It's a difficult listen and very puffy..billions i tell you!On the funding saying the actual commitment is to provide $30m of funding within 5 months of agreement ..agreement early June (5th )so deadline for further $25m would appear to be 5th Nov. Not a long wait to see just how (financially) supportive NIU invest really are. Then $50m to draw in the following 5 months he says.So whether there is a change ..and there clearly has been in the indicative schedule (as that was predicated on producing a PFS ..they tell us now..so why ask for the funds 1st july knowing the PFS not done??) it will have to revolve around the legal obligation he says.There is precious little detail of how they progress anything and much depends on the funds being available.Difficult to believe the CFO is anything but a very over optimistic individual. |
Perhaps it's in a closed period still because they need to raise some funds or because the latest assessment of resources hasn't been published yet. |
I only got halfway through the call as I was distinctly unimpressed with the geezer talking.Middle of next year is circa 8 months and that's ridiculous on 1980's steroids m8. Who is designing building and installing the processing plant? Has it been permitted yet? Have they done the required topographical surveys and underground surveys on them miles of underground tunnels? Have they designed the roads in detail yet? When one thinks about the details in designing and building a mine that actually makes money, the average Joe can't even begin to comprehend the amount of work that goes into it. That's why very few small companies do it and the ones that do often have problems ramping up ROFLMFAO Remember if you listened to the idiots back in 2021 the plant should be pumping out copper by now ROFLMFAO. Not properly read the FS yet but how many staff will they need and where will they sleep and eat?All imho dyor! |
I thought that was what the CFO said on the call..if mistaken apologies..if correct I am asking that they demonstrate with detail how they think they can deliver on that...am I saying they will ...nope I don't have any information to make that call ...but they are and I would like it stood up. |
Sulphides in production middle of next year? Is that material for your stand-up m8 as it's quite good! |
 We need a new firm schedule showing funds are available and deliverable , detail of how the company are to spend it in progressing to restarting production..and filling in the vast void on a timeline to get there. The CFO talks of adding sulphides to production meddle of next year but there is a hell of a lot that needs to happen before then and none of it is explained to shareholders. If he is putting that out there there must be a/worked basis of a getting to oxide production before sulphide inclusion when the expect full regulatory permissions in place to crack on and b/ a worked plan of getting to the sulphides and the timeline to achieve that.But most of all of course is how they fund it all...and whether that funding will be delivered on a timely basis to meet those targets.These are things the CFO seems shareholders should take for granted and take his word for it..unfortunately that is not good enough there needs to be considered detail given now..too many slip ups , changes in narrative and delays to think that is a thing anymore.As to any corporate activity I see no point in the distraction of trying to go down that route ...if the company can be in funded production within 6-8 months why...it could risk the development funding or be further dilutive or take even more debt...why on earth would that be a good idea?? |
The interview is indeed starting to look very sick. This was always high risk, the fact that PXC had to turn to such a dodgy chancer proves it. |
Richard didn’t mention that in his cuddly YouTube vid did he…
Still think they’ll go and merge with GRL, won’t cost them anything, they can spin and talk up the gold that went missing on the leach pads to a new audience - and we get to see more of Emma in horrific black leather outfits and stunningly bad interview technique. Can’t wait. |
there’s a decent chance Cevdet is skint - Adler Group has collapsed and Caner’s stake in it worth cents on the euro. Add to that he might just be a bit busy trying to stay out of jail - and well, can you see PXC getting much joy from that avenue? |
What ever where the board thinking of giving away the equity with clearly a huge risk that they'd never get the full $80m Usually when you borrow from a non bank lender you can see the LP capital calls and undrawn bank facilities to get comfort that the moneys there for you so long as you do your part What dd did the board do on that |
It is very murky world and most companies Caner has been involved with and holds interests in have blown up big time leading to massive losses and he previously was made personally bankrupt. If he has come away from all that devastation a very wealthy guy then there should be questions as to how?? ( the allegation is as a shadow director pushing deals into the listed companies at ludicrously high values funded by debt provided by a lender now in trouble called Corestate...that Caner was very close to ...it seems) ...so he could have benefitted from these sales but the allegations of impropriety then comes into play ..which is still being investigated it appears.https://www.hindustantimes.com/world-news/how-a-small-german-lender-helped-fuel-a-giant-property-bubble-101709529675628.htmlThe other question might be has he actually got that much money ..there is no evidence of NUI AUM or much about other assets it holds . Do they have the committed capital to fund $80m ?? We will just have to take their word for it I guess. |
Thought for the weekend. If you’re gonna get into bed with dodgy European fraudsters, you’re best doing so with one whose profile is low but their star in the ascendancy, not one whose empire is crumbling whilst in the cross hairs of the likes of Perring and Carson Block.
…PXC couldn’t even get that right 🙄 |
Mr Canner is who junior aim listed miners were made for |
i see mr Caner not as a builder but as a flipper. might be wrong and it is not black and white. but getting pxc under his influence for 5 mil and soon after we get M and A talk is typical operation than would vibe with him in my mind
i would buy his seduction course/book |
Re is Caner in control , asking a bit late? Largest shareholder , largest secured creditor even with just $5m put up so far and has the purse strings to fund the development clearly now on his terms not Pxc.Although the agreement was only put in place in May by the end of June he shifted the agreed schedule as it appears refused to meet 30 June agreed tranche when PXC asked ..now the ongoing finance of the company is in his hands as he comes up with a revised schedule ..what that might look like and when we don't know. Is he happy with the PFS we don't know. He says he is supportive but that would involve meeting the agreed terms rather than clearly surprising the company by not complying with an agreed schedule..if it was always reliant on issuing a PFS then they surely would not have requested funds?I think this is the start of games but he is in a very powerful..or controlling position irrespective of the legal position.If the board thought they could control a chap like Caner they were very mistaken he has all the cards. Imo. |
No point in drawing bond money if M&A were about to happen, particularly if your bond investor is involved too! Like RW said in his interview yesterday...M&A may or may not happen. If it does everything changes? If it doesn't he hopes to plod on to the potential goal of the £1bn co.
Perhaps the convenient volatility yesterday resulted in plenty of money made on the way down and provided cheap shares for those "speculating" that M&A is more likely than not to happen. There was a lot sold yesterday...but willing buyers to absorb the panic selling!
have added another 20% today!
GLA |
I haven`t posted here for a while as I got rid of my shareholding after becoming disillusioned at the lack of credible information forthcoming over many months of delays.
A lack of webinars, a PR installed rep. to deflect pertinent questions to board members directly,(now a board member) bullish statements then inaction, the bonds taking so long to become a reality, then a blow big enough to put a dent in the Titanic as Caner renages on some aspects of bond release, tarted up as "means testing".
Many of the positive statements issued have suddenly turn sour a little while later.
Huge salaries of board members who are becoming invisible people.
I lost thousands here, but I accept that. Win some, lose some.
I truly hope that this Company can succeed, but I now have my doubts.
As Caner is now a major here and seems to be controlling it`s future development, I sincerely hope that the BoD put in a load of penalty clauses into the Bond contract that stops this man from taking effective control of the Company. If he is shifting time lines and other criteria, then he should be stripped bare, but I fear that this is not the case.
Such a sad ctale of another huge, potentially lucrative money spinning AIM miner dwindling away to nothing. |
A CFO of an early stage mining company, or any company, who didn't hope to be able to return funds to shareholders in due course probably shouldn't be in the job. I'd certainly not want to invest. Sure it won't happen for a while, but that's very obviously got to be goal. |
these situations are case studies in manipulation, lies, hope, greed, psychology and outcome. Any half decent trader interested in their craft should immerse themselves in as many as they can - 27 years and I’m still fascinated by them. Plus they provide trading opps. And lastly, I know who you’re dealing with while you clearly don’t. That’s about it. See you in Valhalla I guess… |
If he is soooooo bad, why do you hang around here Bumpa33? Altruistic reasons?
Anyway, signing off for a long while now. Gonna let the company get on with their job, and ignore comments from wannabe armchair CEOs, CFOs etc. |
Cevdet Caner - the multi time arrested, investigated and indicted Austrian fraudster. The guy Fraser Perring - of Wirecard fame - went after in connection with failed property group Adler. What a quality investor 😜 |
About 5 mins in, RW starts talking about dividends!!!!
I am not a current holder, was smitten once, but difficult to stay away from a soap opera that never ceases to amaze! |
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