thehog2
18 Jun 2015
Another great RNS! [link]
marab
11 Jun 2015
Re: Final Results thehog - a very good post there and well argued.I did get a laugh at 'if the Regulators ever get around to doing their jobs'. My personal theory is that the regulators are there to prevent average punters from interfering with the right of nomads and brokers to make a profit wherever they can.
thehog2
11 Jun 2015
Re: Final Results Good afternoon Marab,Well argued. I have no real interest in comments posted by those with no money invested as it is so easy to knock from the top of an Ivory Tower. I managed to avoid many of the disasters on AIM and the NASDAQ in recent years, but I don't spend my time following those less fortunate around trying to inflict damage on their investments.Your comments on the NOMAD are ones I am 100% in agreement with, I cannot see how anyone with this responsibility ever allowed such inaccurate forward projections to be made, not only in RNSs but in Investor Presentations. I still have my copy of 'Making Shipments-Making Money' which I hope will come in handy one day, if the Regulators ever get around to doing their jobs. I am absolutely certain that the railway problem, among other items, was an event that should have been reported to the market.The NOMAD's failure to ensure accuracy, in my opinion, led to a large number of us being scammed. I was able to verify the trains were being loaded and trucks were filling, because I saw them with my own eyes. But like any reporter I had no access to the company accounts and therefore didn't know that were to all intents and purposes giving the stuff away. Had I done so I would have sold out instead of continuing to add as so many of us did.I had to actually log off to see the coal comment you referred to, and nearly choked on my tea. Talk about misusing using facts as a scare tactic! The G7 'plan' is to 'seek' the end of use by 2100, with deep cuts by 2050. I doubt if any of us will be around to see 2100, for many of us even 2050 will be pushing it a bit. Germany, a member of the G7 is, I understand, actually commissioning new coal fired plant due to it's panic shutting down of Nuclear plants. There are currently 19 such facilities in various stages of approval, planning or construction in Bulgaria, Czech Republic, Greece, Germany, Poland, Romania and Slovenia. See:[link] you correctly state NZ is not a member of the G7, to which I would add neither is China. The vague agreement from the G7, to end the use of fossil fuels, will have no bearing on current SML plans as 40% of the world's electricity currently comes from coal. To quote from the IEA report of 15th December 2014:"Global demand for coal over the next five years will continue marching higher, breaking the 9-billion-tonne level by 2019, the International Energy Agency (IEA) said in its annual Medium-Term Coal Market Report released today. The report notes that despite China's efforts to moderate its coal consumption, it will still account for three-fifths of demand growth during the outlook period. Moreover, China will be joined by India, ASEAN countries and other countries in Asia as the main engines of growth in coal consumption, offsetting declines in Europe and the United States."Perhaps people would like to read it themselves: [link] personally hope that cleaner ways of using coal could be developed as soon as possible, but this hope does not alter consumption facts.I remain convinced, based on our new teams past and current records, that the company is now in safe hands. Provided things go to plan, we should all see a return on our investment via steady growth as the company is transformed from an AIM disaster into a completely new company.GLA,TH2
marab
10 Jun 2015
Re: Final Results A few points.‘It's wonderful to be able to criticise with the benefit of hindsight’, I bow to your greater experience in these matters.‘I note your lack of comment on my posting of 31 March about my expectation of a placing’ why reply to one ‘placing expectation’ among so many? Do you really mean March? There are many reasons for not making comments pre placing such as being an insider for example.‘It's harder to make reasonable forecasts in advance’, as you proved with your 0.4p placing guess. Probably safer to go back to disparaging other people’s opinions and comments.‘Massive losses, massive cash burn, a company that would be insolvent if it weren't for the rescue funding from earlier in the week’. Losses more than halved despite revenue being down to a sixth of 2013, cash burn down to $90,000 for Q1 2015, and had $500,000 in net cash at the end of 2014.‘a business strategy based around coal in a week when the G7 have announced the phasing out of coal, oil and gas’, and when New Zealand’s biggest power producer is replacing gas with coal as a fuel and when the government’s own coal company is cutting back on its production by 400,000 tpa at last count leaving a great big gap in the local coal market. Since when has New Zealand been a member of the G7? ‘the company sold its product at a price below the price at which it cost it’ absolutely true for the exports but untrue for the domestic sales. You can put the export loss entirely down to PH and JF. ‘Total loss for the year $5,712k’ including around $4m for non cash write downs. You can chalk most of the rest down to mismanagement by PH and JF.‘you only need to compare these numbers to, for example, Directors' fees and emoluments of $794k to understand that the company will need to raise more cash in the near future’, minus the $600,000 for directors that left the company in 2014. It pays to read all the numbers for an accurate picture.‘Historically this has been a dreadful investment for you that you were scammed into making by numerous misrepresentations and lies.’ No argument there.‘The company's historic projects have been a complete and total failure’. Or there either.‘You were unable to identify that the last management team were a bunch of charlatans’ no argument there either. Most people only had for information that which was in the public domain including the lies that we were told like the ongoing search for new projects , the omissions of facts like production shut down due to rail problems, and misdirection like the supposed exploration work that was taking place. All passed by the nomad, that bastion of AIM who is paid to ensure that RNSs are factually accurate.‘To describe the current management team as "brilliant" based on what they've delivered so far is stunningly naïve’, they have slashed overheads, paid for the damage caused by their predecessors, raised £1m at no discount and bought over 7m tonnes of coal for £128,000. That £128,000 is less than half of PH’s yearly salary. If not brilliant, its at least very good. Compare and contrast to their predecessors.
ClockWorkOrange
10 Jun 2015
Re: Final Results I would but I know from experience that its utterly pointless engaging you in any form of discussion as you tend to try and obfuscate the underlying value of a company by just focusing on historical figures and not taking a holistic view of the business in situ, which isnt a true representation of the business potential moving forward, this your comment of "truly dreadul numbers" is just a shameful attempt at brown watering this company.
