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  1. #1156
    Woodland Creature El Supremo moosie_900's Avatar
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    I'll head out there and start digging the holes myself if ACC gives me a 30% stake. Seriously considering if I should get onto a Board of a company and start banging heads together with common sense (which ain't so common these days!)

  2. #1157
    Guru elZorro's Avatar
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    Quote Originally Posted by moosie_900 View Post
    I'll head out there and start digging the holes myself if ACC gives me a 30% stake. Seriously considering if I should get onto a Board of a company and start banging heads together with common sense (which ain't so common these days!)
    How about this Moosie, if we came up with a good-looking proposition or project, a well written prospectus and the blather to go with it, could we see how long we can make $40mill last? I'm always amazed to see that there are always investment funds looking for a home, and while I wasn't able to contribute much in that line, I did more than enough due diligence, and still didn't find out what was really going on until the end.

    Fake it, until you make it. That must have been their motto.
    -elZorro-

  3. #1158
    Woodland Creature El Supremo moosie_900's Avatar
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    Quote Originally Posted by elZorro View Post
    How about this Moosie, if we came up with a good-looking proposition or project, a well written prospectus and the blather to go with it, could we see how long we can make $40mill last? I'm always amazed to see that there are always investment funds looking for a home, and while I wasn't able to contribute much in that line, I did more than enough due diligence, and still didn't find out what was really going on until the end.

    Fake it, until you make it. That must have been their motto.
    Sounds good to me. During the Dotcom boom all you needed was an idea scribbled on a napkin pitched to the nearest venture capitalist. Fancy becoming a moose farmer?

  4. #1159
    Guru elZorro's Avatar
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    Quote Originally Posted by moosie_900 View Post
    Sounds good to me. During the Dotcom boom all you needed was an idea scribbled on a napkin pitched to the nearest venture capitalist. Fancy becoming a moose farmer?
    Maybe we could make GRUs, ready for the next gold rush. At least we'd be at the right end of the business.

    Just to keep you thinking while you are unpacking, AXG has let St Bathans go (they don't have many left at all), but has transferred the huge Kakanui prospecting permit (PP53297) to Skevington Contracting, who are running Drybread. It's about due to expire anyway, but maybe they're going to do something with it. It's the last major part of the big Otago permit area that GEL had. Those were the days huh? The expectations of grandeur.
    Last edited by elZorro; 07-07-2014 at 11:08 PM.
    -elZorro-

  5. #1160
    Guru elZorro's Avatar
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    On 14th July, AXG transferred the ownership of the Manuherikia (EP53182) and Drybread (MP53653) permits to Skevington Contracting Ltd. This means that AXG has no prospecting permits, no mining permits, and one standard EP in the South Island, the interesting Sparrowhawk permit. But they still have a few extended EPs around Waihi, mostly owned with Waihi Gold (Newmont).
    -elZorro-

  6. #1161
    Guru elZorro's Avatar
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    Antipodes Gold has produced its first quarter report, and taken the opportunity to finally post the annual report on its website. The two part-time H.O. salaries are not being paid at the moment, but are accruing. Directors are providing short term loans of about $10,000 each. Not a going concern.

    http://www.antipodesgold.com/financial-reports.html
    Last edited by elZorro; 17-07-2014 at 11:19 PM.
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  7. #1162
    Guru elZorro's Avatar
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    There has been a radio interview with Newmont about the Archey's frogs on the Coromandel, after the Greens ran the story I referred to earlier. Here is the interview in full.

    http://www.goldfm.co.nz/general-news...te-09-07-2014/

    Over three nights and days, 44 Archey's frogs were found in or near five 10m x 10m drilling sites, each 10km Southwest of Whangamata, in December 2012. Archey's frog grows no bigger than a thumbnail, and there are thought to be only up to 20,000 of them left. Newmont chose different drilling sites at four of the positions, to give the frogs a wide berth.

    The rough location given in an earlier article (10km southwest of Whangamata) makes it look like it could have been work done in the WKP permit area, or possibly the Neavesville area. Maybe the frogs are more widely dispersed than the official sites suggest, they are hard to find without a concerted effort. Good to hear that Newmont would be happy enough to spend some funds on researching these very rare frogs. That sounds like a commonsense approach.

    The poor investment record of GEL or AXG was skirted around carefully in the interview. We should have bought Newmont shares.
    Last edited by elZorro; 22-07-2014 at 10:53 PM.
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  8. #1163
    Senior Member Yankiwi's Avatar
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    Quote Originally Posted by elZorro View Post
    The poor investment record of GEL or AXG was skirted around carefully in the interview. We should have bought Newmont shares.
    I'll fill you in on this one if you'd like elZ.

    If we had bought gold bars at the all-time high price a few years ago and sold it today, it would have been a far superior investment to investing in GEL shares like we had.

    That pretty much sums it up.

    Never again.
    NZ - NTL

    GRNZ - Cool Gypsy, Flirt Academy, King's Legacy
    RIP - Caesar Legend

    You'd better DYOR.

  9. #1164
    Woodland Creature El Supremo moosie_900's Avatar
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    What do you two make of one of the Directors escaping to AOR to be reincarnated?

  10. #1165
    Guru elZorro's Avatar
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    Quote Originally Posted by moosie_900 View Post
    What do you two make of one of the Directors escaping to AOR to be reincarnated?
    Simon Henderson is certainly enthusiastic, he might also be a bit wiser from the experience he's had. Chris Castle has a similar background, and in business it's often those who try again after having a go at something, who succeed spectacularly. I'm not sure I'd put money on it.

    The remaining unpaid part-time staffers of AXG, Peter Liddle in Auckland and Thomas Rabone in Wellington, will be residing over a tower of boxfiles and records, plus a heap of substantial old bills to pay. I'm really unsure what will happen out of that.
    Last edited by elZorro; Yesterday at 09:28 AM.
    -elZorro-

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