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Pitboss- I may have misread your post. Steinbock is probably in a better position , with multiple sources, to fill the BHI order than is Mabwe as a start up company and they already had BHI as a client. Not privy to all the details but it would seem to be a logical move. You and a few others know more about this than I do so am reading and learning.
Pitboss-believe Mabwe had agreement with BHI before they affiliated with Steinbock. Not sure about that.
Ref Kjb Post 5083-did not know Steinbock had BHI as a customer. That explains why BHI was not mentioned in the Corporate letter. Thanks much for that information.
Ref Bepractical Post 5065-I am sure Al meant cost per ton would decrease as they become better miners rather than overall costs. Revising income projections makes perfect sense to me-why keep projections that you know cannot be met. MBMI has been at this for four months so not exactly experts. Believe most of the investors are in it for the long haul and will not be deterred by negative posts. MBMI is a bargain right now-buy some.
9600Sqft-what ever happened to the deal that was going to send SPBU skyward ? Did that fizzle or was it another false alarm ?
I fear a ten to one reverse split which will decimate us all. Your thoughts ??
Re Post 4892-believe the goal was for production to start in July but they spent two months on building infrastructure. Believe mining actually started in Sept. So if you expect big positive numbers you will be disappointed. A lot of time was spent separating and grading different barites so we need to give them time. Some have indicated that this was all a scam. Why then would they take the time and spend the money to build housing on concrete foundations ? Why not a bunch of trailers ? Management has not mined barite until now so they cannot be expected to become experts overnight. All of us would love to see them ship 20K tons of barite next week but it is unrealistic at is point. We will need to be patient and let things unfold.
Sure they are drilling -difficult to insert dynamite without drilling. Lighten up folks-these guys are new at this and none of you became experts overnight. Give it time !!!
Pitboss-don't you think too much is being made of this low bid price? After all, Mabwe is not a household name and those investors who know about it have either bought shares or chosen not to do so. The first shipment, hopefully soon, will change all of those numbers. I see where someone has bought a few shares of the parent company .
According to MBMI management documentation the initial goal of the company was to mine 3 million tons of barite for BHI at 225K tons per year for 13years. However, since Steinboch is now a partner, the company may be able to sell additional barite to Steinboch clients. Believe we should stay with the current management projections until they are revised. I appreciate the positive posts but we need to be realistic as well. It is obvious that MBMI will not meet the original delivery schedule but that does not mean BHI will bow out of the contract. So, as some have already stated, lets be patient and give the company time to learn how to mine. After all the Wright Brothers did not have any flying experience either but they did fairly well.
MabweKingPin-Right on target. A company who takes the time and spends the extra money to pour concrete slabs to set their worker's houses on is an indication that they intend to be there for a while. Buy in if you are still on the sidelines. It will make your holiday season more enjoyable.
9600sqft-where is it taking off to ? Are we getting ready for a 10 X 1 reverse split ? Please elaborate.
ref post 4001-gitreal-don't have any idea how they segregate or how much there is. There always a possibility that Steinboch,who appears to be well funded, could buy the product raw and do the processing on site or assist Mabwe in providing processing equipment. I agree with you that shipping raw barite may not be the way to go. However, since I have absolutely no experience in that area I am not qualified to say either way. Thanks for your insight.
Gitreal-is it better to segregate that barite which will bring in more profit per ton or just lump it all together and sell it for $100.00 per ton ? What if they see a significant amount of the various types for which Steinboch has customers ? I would think that Mabwe would want to ship ASAP but is it not wise to wait if they see the possibility of more profits. If the BHI contract were at risk I would think they would ship as soon as they have a trainload. I respect your views and the desire for a feasibility study. Maybe they will do some drilling once the money starts flowing.
Hukoyo-ref post 3915-you said you spent the day reviewing the case against Mabwe at the criminal court. So the law in Zimbabwe allows anyone to view the evidence the prosecutor has prior to the charges being filed ? I would think a prosecutor would safeguard his evidence against possible leaks to the defense. I can understand that if you are the plaintiff or one of them you could be shown such information. Please clarify as it is confusing to this old man. Thank you.
RefPost 2928
You are absolutely right. He did not want the larger shareholders there . If push comes to shove maybe we can have leverage with the SEC. Thanks for the info.
raptornuts-did you have an opportunity to vote your shares when the meeting to authorize a reverse split was held ? I received documents two days prior to the meeting on some shares but did not have instructions on where to send info. Believe it was a sham from day one. A reverse split below 10Cents will destroy most of the investors. For those with significant investments it may be wise to alert the SEC.
Hey gitreal-at this point I am trusting not only MBMI management but that of Steinboch and Yasheya as well. Those people would not be spend one minute at Dodge Mine unless they think they can make money in so doing. You are free to choose your experts and I will stick with the Mabwe team. If I am wrong, it will not be a first. Good Luck to you !!!
Many of the Posts I have read have been quite informative while others are merely attacks on the company. I hope that, once MBMI becomes profitable, Al and his team will consider taking over management at SPBU to turn that around. What will RRHI shares be worth when MBMI reaches the $5.00 mark ?
Re Post 3161-danielequities-my suggestion for Danielle would be to contact BHI and Steinboch (Coplet brothers). Find out why they chose to affiliate with Mabwe. Good Luck !!!
Ref Post 2945-thanks for your input gitreal. I have a hard time believing that BHI, Steinbock and Kinsey would lend their names and reputation to a Hype. Time will tell. Good Luck all.
Ref; Post 2943- I understand you have to mine at a profit or not at all. What is puzzling is why Steinbock or Kinsey would be involved at all if it were not economically feasible. I do not know Al P. but I do know J4 and he is not at all like the person that some have described on this board. He is a top notch salesman and gets very enthusiastic when talking about a product in which he truly believes. He is an honest, decent person whom I trust implicitly. He believes in MBMI/RRHI and will do all he can to make both a success. Hold on to your shares of RRHI as they will pay off soon.
As a newby, I read these posts with great interest. I have a question for someone more knowledgeable than I am: A study done years ago has identified 411K tons of barite in an area which represents 7% of the surface area of Dodge mine. Is it not reasonable to expect that there might be at least 1 million tons of barite there ? At $150.00 per ton we have 150 Million dollars. Lets say we pay Steinbock 50 Mil to do all the transporting and readying the product for the end user-that leaves 100 Million for MBMI . Have no idea what it costs to get the material out of the ground but there has to be a substantial profit left for MBMI. Could it be that the MBMI management is waiting for the first shipment to be delivered, then, with money in hand will do what is necessary to verify the size of the barite deposits ? Could it be that they do not want to go into debt at this specific time but will drill later ? Unlike the Federal Government, maybe they do not like to spend money they do not have. What do you think?
MabweKingPin-your description of the site is on target. Lol
Kudakwasha-I visited the web site you provided and saw the export application along with the new sales agreement between Mr. Groves and Mabwe. Thank you.
MabweKingPin-since there is much nit picking going on be aware that Mabwe has a Master Supplier Agreement with BHI and a Master Service Agreement with Steinbock and Yasheya. Appreciate your posts.
Re Post 2910- still on track for cash flow positive in about two weeks ?? Appreciate any info you can provide. Thanks.
Ref Kudakwasha post 2452
This is a reiteration of pitboss22 post 1699. Do not know where the language of that post originated but it mentions that the Minister of Mines cancelled a judgment of the High Court not once but twice in return for money allegedly from the directors of Tag and Mabwe Minerals. My question to you is: Does the Minister of Mines have the authority to ignore a High Court judgment as relates to mining matters ? Is the Minister of Mines still serving in that capacity ? If he does not have the authority to cancel a High Court ruling, was the High Court paid off ? If he does have that authority, why would the High Court need to be involved in any mining decision ? You keep alluding to corruption on the part of Mabwe Minerals but who is being corrupted ? How high does it go ? Do you have any proof to support those allegations ? You say that the investors are pouring money down the toilet. What is your stake in all of this ? Do you have an investment in Baseminerals or are you merely supportive of your half brother PV ? Thank you !
Right on Mabwekingpin-many of us wish SPBU had a management team
like Mabwe's. This team, led by Al are trying desperately to make Mabwe a success and in turn allow Raptor Resources investors to recover. I appreciate their efforts and respect what they have been able to do in a short period of time. Go MBMI/RRHI!!!
Re BeyondBarite
Right on-some are hard to convince but they soon will begin to see the light from the barite. Great posts. Thanks.
Ricko30
Hello Daryl Adams-As a former employee who is owed money by SPBU,you have every right to be disgruntled. If what you are saying about Cery Perle is factual, the authorities will catch up to him in due time. Meanwhile, those of us who are original investors are not in a position to take your advice against buying SPBU shares. We are already invested and would suffer substantial losses if we sold out now. Furthermore, your chance of recovering any monies from SPBU will be greatly enhanced if the company can survive and become profitable. Conversely, if SPBU should declare bankruptcy, you will go down with the rest of us. So, while ranting is good for relieving the frustrations you must feel, it contributes nothing to the potential recovery of the monies owed to you. A better approach is to be cautiously optimistic that better days are ahead. I believe the SPBU product is one of, if not, the best out there. We all feel that Mr. Perle is burning money at an unusually rapid rate and could do better. Unfortunately, we are not in a position to do anything about it at this time. 9600Sqft has rendered a service to us by keeping us posted on events that we not otherwise become aware of. I hope you will recover every penny owed to you by SPBU and that 9600sqft will continue posting.
Thanks 9600sqft-I do believe a breakout is around the corner. Even with Turcell on board, it still takes time to promote the product and market same to prospective customers. Look forward to seeing the financials and new developments. I'm in this for the long haul.
It is indeed frustrating for all of the investors. The alternative is to let the company sink. The PPS cannot possibly rise to acceptable levels until the company achieves profitability and is in a position to start retiring the debt. Only then can we expect the small caps to start buying big chunks. Adding a CFO and an International Rep costs even more money. Lets hope they can earn their keep. I am trying very hard to remain optimistic. Good Luck to you.
Amen to that 9600sqft!! Denegrading the product does not help anyone and could keep potential investors away. I am in this since June 2010 and would have preferred that it move upwards alot quicker but I understand that when you are selling a service there is only so much pressure you can apply. Lets see if John Harrison is able to help us with more big Telcos. Keep the faith !!
Believe the Telco placed stringent requirements on SPBU so as not to taint their clients with an inferior product. Looks like SPBU passed the test which should lead to bigger and better things. I view this PR and the hiring of a new CFO as steps in the right direction. Partnering with any of these large Telcos is a significant achievement and should develop into more partnerships in the future. Good things happen to those who wait !!!!
Hope it is Turkcell. With 35million customers in Turkey-a conservative take rate of 3% would yield 1 million customers for spbu. If they received 75 cents per customer per month it would generate 9mil. The potential is definitely there. Don't know how long it would take Turkcell to sign up that many customers but it would be worth the wait. I am optimistic that 2013 will be a game changer. Good Luck to all.
Believe 9600sqft is correct. Using link provided by Jamigo there are 35.2 mil in Turkey but 20.4 mil in azerbajan,kaxakhstan,Georgia,moldava and another 10.7 in countries where turkcell has a major stake. I prefer to look at the glass being half full rather than empty. As an aside, there is a small company in the midwest that is manufacturing explosive prayer rugs and the prophets are going through the roof. Good luck to all.
Since the product is relatively new we need to give it some time. If you expect immediate results you are in the wrong business. They will make adjustments and tweak the product so chill out. This whining and negativism serves no useful purpose except to poison the well. Lets act like adults and show some patience. Have a great day.
I think revenues would take precedence over PRs at this point. The PPS will not increase until the revenue stream does. Hopefully break even 1st Qtr 2013. Hang in there and things will get better.
RE: 9600sqft
I totally agree the SPBU has the potential of being a great investment. As long as they can maintain operating capital for the next 3 months or so we will do fine. I just do not see the bigger investors allowing SPBU to go under when big things are on the horizon. Your observations are spot-on.
Re gsj50 post 2319
Iagree that the debt is a big concern to us all. I think the big money people are waiting to see what the capital gains tax structure will be after the election. The current administration has plans to increase the tax significantly next year and that would keep big money on the sidelines. I also read the Bogner report. Once we become cash flow positive we can at least start whittling down the debt. Hopefully, it will happen this year.