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We have a lot to look forward to this week, beginning with the 10Q being filed on Monday and ending possibly with a webinar.
I was assured by the company that their new plan will be fully implemented and active beginning Monday. They must have got a lot accomplished in their meetings last week.
I really hope they let us in on the details of what their plan is as soon as possible. It's hard to expect investors to rally around the company when we have been kept them in the dark for so long. Even some facebook pics of the new headquarters in Reno would give us a signal that there is actually work being done and that the company is still a live and well, not just sitting around waiting to land a miracle investor to restart operations.
Hope you see that Citizen Bob!
T-man,
I get what you're saying. There's been dots that need connecting that would suggest that a lot of what you're saying may be abundantly clear to current management and need changed.
PM me your email and I'll talk to you off the boards.
That's correct, sir.
Excellent. Thanks.
No increase and it looks like last weeks 28M sold through already.
I guess I don't get that argument. In his letter, Don said they will be used as a means of "consolidating and supplementing our asset base."
I don't see them going to a finance company. I see them going to G8MI whose president, as best I can tell, is Jimmy. I would expect this to be in lieu of some of the $1.2 we owe them for Group8 and perhaps even the other 19% of Group8. That would certainly consolidate and supplement our asset base. It would also give G8MI enough votes to look after their shares.
Well, that's obviously not a desirable scenario.
Based on conversations I have had, there's a lot in the works and I don't see giving up that many votes to somebody that is just looking to get paid back.
I suspect a lot of changes coming over the next 6 months.
Maine,
I don't think we get anything earth shattering in the 10Q next week either, but there will hopefully be a lot of pieces to the puzzle in there. As you know, it takes a lot of time and reading/rereading to connect dots and come up with an informed idea of what is going on. Even then, it's speculation at best.
One thing that we haven't talked about much recently is that the details of the agreement with SHACC are to be reported. It will be interesting to learn what "a premium over industry standard prices one competitive payment terms" means. It will also give us a much better means of estimating expected revenues for their current operational plan. Obviously very important for valuating the company.
That's just one thing I will be looking for on Monday.
I mean, I wouldnt count out changes to management.
I wouldn't count out a change in the BOD as something that isn't already in the works. I certainly would count out continued changes to management.
Again, I speculate that those preferred shares are going to someone interested in protecting their investment, not dilute the hell out of it.
In bad times' everybody thinks they're Lee Iacocca.
Thanks for chiming in, your comments are duly noted.
In case you missed the 8K's, they have hired two people that know what they're doing.
I have faith that their plan is not to use convertibles to finance the entire mill. They need AS to secure that funding as well as other funding, it does not mean it's going to all be used.
Somebody is getting 400M votes in the near future. I'm guessing whoever that somebody is, they're protecting their investment.
That's absolutely the bottom line.
BUT, the market needs to get to a level where the value of the stock represents the true potential of the company, discounted for risk and time, and including the necessary need to raise funds through dilution.
I think the market cap right now is absurd. Those with big investments here will need to step in and protect their investment against the dilution, by supporting the PPS rather than voting no to an AS increase.
T-Man,
You're alright man, you're just concerned. I get it and a lot of people here get it. I share a lot of your same concerns and I certainly don't want my investment diluted either. It appears to me though, when they originally asked for the 3B shares, their focus was not just on Fencemaker but also their other projects. If you go back to last year and look in the filings and PRs, you'll see that in tandem to getting the mill going, they expected to complete their lithium exploration.
Now, look at the FLPC summary on their investor website. Lithium isn't even mentioned in the short or midterm goals.
In addition to that, the COO is the president of G8MI. He's here to protect his investment and dilution is not in his best interest unless it leads to appreciation of the value of all shares. I speculate, as it sounds like you do, that those preferred shares are going to G8MI. It's possible that their intention is to have enough control of the company to do something other than dilute their own investment down to zero.
Just try to see some of the positives here.
You don't think the AS increase has been priced in yet? Down 50% since then, it's not exactly sneaking up on anyone.
I actually think if they come back only looking for 500M, this will be positive news with respect to expectations.
We have a very similar strategy, my friend. I keep a close eye on them.
Sounds like it is what the conference call will be. Webinars are typically both call in and video.
I for one will probably only be able to listen in if there is a call in option.
At any rate, I would expect listeners to be muted with questions needing to be submitted prior to the call.
Could be a nice few weeks here.
We need a pop this week to minimize the amount of shares needed to pay off the coming convertible.
Let's kick the tires and light the fires big daddy!
I'm going to agree, all the information I've found suggests that COSTCO does NOT charge slotting fees.
Seriously, though. What's the word on sales? Are people buying it at Costco?
Anybody know his relationship status on FB? I'm just doing some DD.
Furthermore, if you click in the company name, it gives you the more current company description. Seems like a LinkedIn error.
Are we not expecting some sort of CEO corner or some other manager update this week, per the shareholder outreach program?
Pitt, buy when you think it's undervalued and sell when you think it's overvalued. If you're right, you'll make money in the long run.
There are certainly more optimal strategies to investing, but if this works out, even those that got in at 0.08 will make money.
Things would have been OK had revenues been available. Progress towards the mill, continued mining at Fencemaker, and revenues from shipment would have propped the PPS up enough that dilution from convertibles would have been easier to withstand, not to mention better financing options would have become available.
Right now, we need investor support. It will come, in my opinion, but the longer this goes on the worse it will get.
There is genuine concern here about the future, but if a viable plan for funding this mill is out into place, and progress is made throughout the summer, investors will respond appropriately.
The PPS is nearly half of what it was since they suggested an AS increase. It's priced in to some extent. At 2B fully diluted, we're less than $10M in market cap. I think we get a mill well before 1.5B and think that when all the doom and gloom here is done, there's a ton of room to make a lot of money.
Figuring out how to spend all the money he raised, hopefully!
I thought the last one blew. I was expecting something like this in January, but instead they just updated the old one.
It will be a lot easier for them to maintain.
Look on a map, it's like a 20 minute drive from Fencemaker. Their plan makes sense and is going to work, they just need investor support.
Murdock isn't to blame for where we are right now, it's poor planning by FLPC management. Jimmy T is here to make sure things are executed properly from here on out and to clean up what was done in the past.
Murdock's role at this point is unclear to me, but I don't blame any of this on them. They are very responsive to my emails and my take on things is that they are playing more of an investor relations role.
The missing link is financing. All I know is that we got an 8k regarding preferred shares that make up more than a third of shareholder votes. It's my understanding that Don has been on the road all last week working on financing. The timing of that 8k isn't a coincidence.
Here's to getting some financing news and putting an end to this misery.
I would expect either the Q or an extension filed today.
You are adding nothing to this conversation. These points have and continue to be discussed ad nauseam for several months.
Yikes.
We need a green day. It's gonna take news to break through .01, let's just preserve this 0.005 as a bottom until then.
I sure wish this 1.7M on the ask would just dump already :)
It really is discouraging right now.
Nothing will happen here until they speak about financing. We were supposed to hear about financing risk in the operational update, but got squat.
Well that was a jerk off day.
Haha. I was thinking that too. We shall see what the summer has in store for us.
If history repeats itself, an extension will be filed early next week and the Q will be out June 16th or 17th after the bell.
Here's to hoping they put it out on time.
What as the point of that move?
PM me your email brah.