Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
IMHO Sney do not have a problem with the licence as also stated by the new geo in his letter to MoM. All docs have now been submitted again and reciept therof will have been verified by the new geo,s clerk and put in the mail book as will any reciepts of payment.
EVERYBODY, is a LAWYER in SL and a papper trail is a must for everything.
If you are going to rely on computers in a country that has rain and high humidity 6 months of the year then they better be situated a room that van cope with the environment.
Dredgemaster
Thanks for the info and glad to here it.
Dredgemaster
That itch, finaly scratched it.
Hale was with AMS when this problem originaly happened, and would have been aware then. The problem came to Sney.
If the paperwork had been submitted by AMS at the correct time then the problem would not have bit them in the ass. Trying to micro manage from afar does not work. Systems of work and methods of opperation were not in place to ensure that the EXTRACTIVE INDUSTRY DOCs had been compleated and deliverd and a reciept obtained.
Those who know the practice of how to send, deliver or collect documents in S L will be aware that all documents whether recieved or delivered are signed for by the person who does the delivery, usualy the company clerk or messenger, and that the MAIL BOOK is a factual record and even Right Thumb Prints are acceptable and recognised by the Courts in SL
WHAT AN ADMIN CLUSTER----
Dredgemaster
Hi Au, You are 100% correct in your observations IMHO and you have always been straight in your posts in that you habe given a fair assesment.
IMHO it does not matter who Sney have on board if they do not push, push now then there will be No viable operations this year.
I just hope they dont go into hibernation.
GLTY.
Dredgemaster
PS I hope to be in country in 6 weeks.
In all fairness, if the issue is payment owed to me then I would feel the need to do all I could to recover what was owed to me. ( As previously said I have been left in bad situations before because I am an honourable and loyal person) Unfortunatelly some companys do not return the loyalty.
If it was a case of someone could do the job better than me then I would have no problem. Its a big wide world out there but mutual trust between Sney and its managers is so,so, important in the environment they are working in. Sometimes loyalty is more important than ability as you can always contract in expertise. Just IMHO.
Dredgemaster
Based on my DD, there is no evidence that states the concession fee has not been paid or was an issue in the reason for suspension.
The suspension was down to the lack of submission of paperwork relating to Extractive Minerals Act which was the responsibility of old management. Can ANYONE, point me to some factual DD that says the concession fee has not been paid or was an issue in the suspension? TIA.
Dredgemaster
Investors are not fools. They will do thier DD on Mr Tayyib and the New Geo and decide who they think has the most influence and is more gualified to look after Sneys interest in SL. IMO, Sney NOW, have a person in place who can look after both the political and business interests and is a stand up member of the business community in SL and beyond.
Mr Tayyib Bah is now able to devote full time to his political ambitions in which I am sure he will do well. He should be paid for his services if he has not already been.
Both Mr Hale and the new Geo now have to show that any change in Management is justified by takeing Sney FORWARD as stated in PRs.
The next PR is probably the most important one that Sney will have to put out and must show actions and not just forecasts. I would prefer to read that work had started instead of areas of interest have been identified.
I am at this time trying to find out about Wilf, as I will be interested to know his position in Sney and if he is still in country.
Dredgemaster
Labour and prosper, a man should be paid for his work been left with my a$$ blowing in the wind a few times so now I get paid up front and the first month its not there Im on the plane.
Dredgemaster
The answer is in the timeline and chain of events.
When and why did Hale go to SL.
When did the notice of suspension come out.
When was Mr Tayyib Bah let go.
Is it the Country Managers Responsibility to ensure the paperwork was recieved by MoM.
Was the concession compromised because the paperwork was not put in or because Mr Tayyib Bah was let go.
What came first, The Chicken or The Egg.
I Wish Mr Tayyib Bah a happy and prosperous future.
Dredgemaster
First, Happy 4th to all.
There is an itch I cant scratch about this and where I agree the problem has been resolved it should not have happened in the first place. DD was not a strong point of Sneys.
When I do a bit more research and find the cause of the itch I will get back to you.
Dredgemastet
Hi Mikey, always glad to hear your take on things.
IMHO, the licence issue is a way of MoM trying to recover some money that went astray in THIER admin process and happens all the time. Sney will have had to provide reciepts and paperwork to prove thier side as documents and reciepts have a habit of dissapearing in MoM. So I do believe the susspension will be lifted very quickly.
As for the gold price, I have watched it climb for many, many years now and I there is still a great profit if cost of extraction is controlled.
As for REEs, they are not a mineral I have cared to mine as I find the scope of actual valuable minerals contained therin to be so vast.
Haveing said that if the Chinese are BUYING all the REEs in Africa then it will affect the market, even the local market in SL.
Yes finance is a problem for Sney as most people must know but the opportunities are greater than the problems.
Management will now be the key factor in the way forward and as said before the need to push, push, push NOW to establish a better foundation than they had.
I agree, that christmass will be the telling time the window of opportunity will not stay open for much longer.
GLTU, Mikey and always interested in what you have to say as it is always constructive.
Dredgemaster
And happy 4th to you ICE and all. Sney have been wise in several aspects of cost cutting in SL, AMS is a SL company owned by Sney and as an SL company will pay a lot less than foreign registered companies in SL. The geo is a wise man in these matters and will be advising on more than concession geo. The next 4 weeks will be important and then its holiday time in SL and will be hard to get any type of admin work done with parliament on holiday.
GLTU
FWIW, Sney will have to have submitted a new plan of concession area, as it will change. The EXPL area will obviously be SMALLER and will exclude the size of the MINING area.
This is how the MoM make MONEY, through documentation, then there is the size of MINING area and all costs to be adjusted. Depending on where the application is placed in the pile of documents to be processed by the clerk and signed by Minister then that will dictate the timeframe. There is also a large saveing to be made as the cost of the EXPL has come down.
Sney have said that they will have ops ALL year round and therefor there SHOULD be PRs ALL year and none of this GOING QUIET, dureing the wet season.
Lets see this pilot plant either get, shipped, made in country, and some land ops started.
At the moment Sney is stood still, and in my book that means going backwards. They have plant and equipment that seems to be on DOWN TIME and that is worse than AFRICA TIME. I look forward to the next PR that tells us about ops and not admin.
Dredgemaster
Hi Au, no probs, Sney need to push, push, push.
A couple of small terracing teams made up of locals wont cost much. They already have put in some pits so will know costs. As for pilot plant, they need to make a move soon and take advantage of all year round operations. With the new geo pointing the way they must be going in the right direction. In the style of Mr Hale! All the ingredients for the cake are there it just wants bakeing. So lets buy an oven, lol, lol. (Management are the Bakers)
Dredgemaster
JYD, I noticed that the author of the PR was The Company. What happened to Mr Hale?
Dredgemaster
Hi JYD, PR came out fast after Sney Reps left SL.
I have known about admin problem for some time and IMHO it is typical of SL MOM. Sney have stated that the new geo got it sorted.
I dont expect Sney to go after any concessions close to thier own and IMO it is NOW time for them to add to thier portfolio if funds are forthcomeing and I am sure the new geo has pointed them in the right direction. Who knows I might meet up with them on the Sewa. The PR was at the best vague and should have addressed a few other issues. Its one thing haveing concessions, it is another proveing them up and yet another produceing from them.
I want to see that pilot plant out there and lets see some terracing work done and the results of those tests. Push Push Push, if you dont you end up working IN AFRICA TIME and it goes at a slower pace.
GLTU
Dredgemaster
Krio is a hard language to translate especialy over the phone. Past and present tense, him and her, going and comeing. Try Google it if its not too much trouble.
You either believe me or not, and frankly I dont care one way or the other. I tell it how I get it and if you want to put a twist on it that is up to you.
I think perhaps you have a very active imagination that sees more than is realy there.
YOU ARE NOW GOING ON IGNORE AS YOUR POSTS ARE JUST TOO BOREING.
Dredgemaster
If your post was supposed to be humorus then its your first and will obviously die of lonlyness. The FACT, that people from Sney Left SL yesterday is just that, FACT, if it was a rumor I would have said so.
As for your elaborations that they were accompanied by a big investor is purely an assumption on your part.
So back to your repetitive, wingeing, moaning, boreing posts.
Dredgmaster.
Jeeeeees, DD, how on earth does a flight flying via Brussels get mixed up with DIAMONDS.
Its only a transit stop and poor DD tries to make it into something it is not.
Diamonds would be nice but have not seen any on Sneys Concession.
Dredgemaster
I did not get any names, and it is not sure how many of the party actualy flew out.
I thought it might be Mr Hale. No doubt there were people in the party who just came to see them off. IMO.
Dredgemaster
Hi ant, as you see from the article they do what they want where they want as they know the system. As long as you are AWARE and can do business and work in this type of environment then no problem. SL is still in early development and so is there government.
Dredgemaster
No direct flight, you either go via London or Brussels. Or if you are a canny scot then you may go via Gambia from UK.
Dredgemaster.
Trusted contacts at Lungi Airport state that 3 people from Sney flew out to Brussels YESTERDAY.
Dredgemaster
A young bull and an old bull were walking by Sneys Concession.
The young bull saw a heard of cows and said to the old bull, lets RUN, up there and make love to one of those cows.
The OLD, bull said, No, lets WALK, up and make love to them ALL.
YOU JUST CANT RUSH A GOOD THING.
Dredgemaster
As you know I have constantly posted about proveing up concession and now that Sney have a retained respected geo then it is happening.
I only named companies in SL because that is the business environment that Sney has to work in to prove up the concession and I respect your knowledge.
As you say management has to get its finger out and do all they can with what they have in a timeframe that is REALISTIC. This will not please ALL investors. Looking forward to next PR which I am sure will seperate the wheat from the chaff.
GLTU
Dredgemaster
AGREED, Compare Sney, to African Minerals or London Mining, and several others in SL.
These other companies have been in SL for 12 years and have only shown revenue in the past 2 years. These companies were built on estimated and proven reserves.
Look at the history of sneys concession and the geo reports from sveral different sources and there is no doubt IMHO, that the reserves are there and have been estimated on the low side.
GLTU
Dredgemaster
An honest man. SCOTS. pretenders say SCOTCH.
You keep that black gold comeing
Hi RMC, you are welcome to my hospitality but I reside about 200 miles from london. I will be happy to meet up in london, anytime. Nice to see you post.
NO NEED TO REPLY TO THIS POST.
GLTU.
The short brit, ha ha ha
6 weeks and I will know. about the same time I expect to see some action here at Sney.
Be good and if you cant be good be carefull.
Hi JYD, this guy is so down to earth, he takes all calls from mines monitors and local gov mining engineers and knows what is going on even in the back of beyond. He is on more boards than I could mention and his degree is from one of the best universitys in SCOTLAND.
GLY
Dredgemaster
Always a pleasure to read your posts.
Dredgemaster
Some people just have to send a crappy PM and cant post on an open board.
FYI you only go to the Queen,s birthday party at BHC, SL by invitation only and this is one of the places I met him. Sney will do well with tjis geo.
I just think that Mr Hale has SO FAR done what he said he would do. He should be allowed to have his second visit to SL and release a PR and then be judged on progress.
There are money makers and deal makers and Combined with good boots on the ground it should be a great team. Seems Sney has all the former. I haave been saying for over 2 years that they should have a retained geo and now it seems they have aquired one of the best.
Dredgemaster
Ref: your last para.
What ever it takes to get the job done. No 1 in business. At this time, I would say Sney has the people to do just that both at home and in SL. It looks to me that retaining the services of a pro geologist who is a very highly regarded and respectable and honorable person in SL seems to have been overlooked by many, this man will be key to future progress in SL. I can say the above as fact as have met the gentleman on several occasions. IMHO the 2nd vist to SL by Mr Hale and others will bring to a conclusion the way forward.
You still tell it as it is, unlike others who seem to make up imaginary senarios with no facts to draw on.
GLTU
Dredgemaster
There are lots of companies terracing during the rainy season.
The geologist is key and will point out the sites with value and that have the terrain which will not get swamped and need a lot of pumps. The people in the villages from Magburaka to Matatoka to Makelie and Makong have to wait for the rains in order to get reasonable water to mine for gold in the tributries. These are predominantly MINING villages and do some farming but being on high ground you can see why they need rain to mine.
Mr Hale has said they will mine all year round and the geoligist should have already marked off the sites. Access to some areas can be hampered but thats mining, if it was easy then it would be reflected in gold prices.
Hope yhat helps.
Dredgemaster.
Hi, think you are right. Wise people speak when they have something to say. Fools speak when they have to say something. (plato) I miss the actual debates from posters who put forward new DD and the forecasts of those who know stocks and study Sney.
GLTYA
Dredgemaster
IMHO, and looking at the grade of material the tonage planed per month and the centralized processing and the through put this company must make a good profit, as said previously the time frame and window of opportunity are the questions that I can not answer.
Dredgemaster
Funding is not in my realm, but Mr Hale seems positive in his statements. They have most of what they need except the pilot plant, so depends on which plant they go for as to cost. These two items will only be known by the company. But my original post was on cost of processing materials based on the numbers put out by Sney on the amount of material per hr processed.
Dredgemaster
Hi, MW88, two different issues here, Company and shares.
I do believe that if the get that pilot plant out there it will show that they can process at a massive profit. The shares doing well is a matter for shareholders. Both the above dont seem to go hand in hand. As you know I am not and have never proffesed to know the ins and outs of shares and still fail to see how peofitable companys do so badly.
I am learninig though and thanks for all those who have helped me in that regard.
I know it is probably not what you want to hear, but the best I can do IMHO.
GLTY
Dredgemaster
In the end it is each persons call. Based on THIER DD. As for Mr Hale, I was rough on him as I believed his first report was as you say ambigeous. However His reports since have been better and to the point and He has done what he said and it looks like he has his finger on the pulse. I do not believe that anyone can deny the History, Geo and Meta reports from professionals that has been produced as if they were telling porkys then thier future would not be very bright.
Mr Parent is a person who I do not know much about and as I have said previously it is down to each individual on thier DD.
I base my conclusions on the professionals as that is thier livelihood and the actions of those people.
GLTY
Dredgemaster