Be nice to have an RNS about Jan's progress for a change.
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Arcm are by no means unique either I've heard loads of companies say they won't or don't intend to raise only to then go on and raise
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Thanks for that update Hoss. Would be great to see an increase in news-flow over the coming months. I won’t hold my breath but I am hopeful! 🤞🏽
Also I know there hasn’t been much volume but the sp seems pretty well supported off 1.2 and great levels to be buying off imo.
I think that was a reference to dipping into the holdings JAN have before going to the market.
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I was there along with two other independent investors. Nicholas VS was chairing with Brian attending virtually. Nothing much to report as far as procedural matters. Questions were welcome, which I left to the other guys, who I’m grateful to. How’s progress on Fodere? The ‘pre commercial’ plant to be completed in the next month or so. Getting a consistency of results I think may be the issue – I may have that wrong? Our sample container is definitely there waiting to be tested. They have a small lab set up ready to go once the plant is performing as expected.
Market conditions & timing? Nice to hear some of the logic around JAN strategy and the wider market conditions. They’re obviously frustrated about the wait as far as testing goes. They’ve explored the purchase of a zinc mine in Brazil which fell through at the last moment. There’s an appetite not to be a one trick pony and have other complimentary projects. I thought Brians responses were suitably sanguine, and he tried to respond as an investor himself which I thought was refreshing. There’s plenty of confidence in the room in terms of not having to fund raise in the foreseeable future/if at all.
Morning all,
Quick drop in - I note a few are looking to attend the AGM, which is potentially encouraging, as the three of us that went last year got a fair bit out of it.
A word of caution - Brian will undoubtedly be attending virtually and it is simply a formal AGM. It is VERY easy for the Q&A to be halted if it turns either abusive or like a clown show.
I don’t mean the above in a patronising way either - but we’ve all seen emotional exchanges with management elsewhere and, while it feels good at the time, it rarely achieves anything but putting further distance between two parties.
My recommendation, for what it is worth:
(i) Ask for proof of holdings from your broker. You can attend otherwise, but you will not be allowed to speak during the AGM and I believe it’ll give you better standing. You don’t have to share or declare your holdings outside of giving them to the designated in-person chair.
(ii) Do lots of prep - centre questions about where we are now and what we will do moving forward. Digging over past ground will likely cause a shutdown in communications.
(iii) Be careful on tone. We asked some very difficult questions last year and got constructive answers because we were polite. Stating that someone is “robbing” you (only as an example) is going to get the answer it deserves. We know Brian doesn’t mess around from HMI Q&As. Give him a chance to open up.
As I said, the above is my view only - last year was a very interesting experience from my perspective, and what it can do is make you look forward than backwards, with a lot more understanding about the challenges involved in this world!
ATB.
I just contacted St Brides Partners and they said just turn up if you're a regular shareholder.
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I might try this year. I'm currently free on the 4th.... but that can change
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No, we have our own sample to treat in a pilot plant.... just waiting patiently for news on that....
. It should be soon enough as Fodere's plan was to have their rig commissioned by end H1 ..... we are nearly there and no news received yet 🤷♂
Blencowe signs first MOU for offtake, more to come. Should be positive for JAN stake value
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He's not well, messaged him on twitter few weeks back and he replied.
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The clear difference with Jangada after listening to Brian at the AGM is his and Luiz’s high shareholdings. They don’t want dilution. And they have assets they can sell down first.
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Just a reminder arcm said they didn't need to raise.....then did !
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Ah okay. JAN have about $3m of cash and investments from memory?
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Thanks for the feedback. In terms of - “plenty of confidence in the room in terms of not having to fundraise in the foreseeable future/if at all”
Where has that confidence come from? There is a view that we have enough cash to firstly keep the lights on, and secondly fund any capex m&a without dilution?
If anyone in here that went to the AGM yesterday would be happy to share anything notable I’d really appreciate it. 🙏🏽
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I’ll be there and I will give that McMaster some serious shit. Robbing us he is!
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After you've slapped them with a fish please give them a massive kick up the arse
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How do the the AGM work? Do you have to meet any requirements or can you just walk in without an invitation?
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The travelling will be a killer for me but I really do want to go
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Anyone going to the annual General meeting? If David's there, I can give him a big kiss
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Read that someone said "non-binding", but a clear representation for the potential offtaker
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Miss having him in here, but then again not like there's been much to discuss.
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