Ann: Focus Enters into Exclusivity Deed with Intermin Resources, page-28

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JamesExpat2

682 Posts.

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12/02/19

11:52

Post #: 37408975
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Originally posted by DonaldFrump ↑

Originally posted by JamesExpat2
DF-Yes I plead guilty as stated.
Originally I was full of praise of JP and defended him against other posters.
Now being a holder since July'18 my view has changed.
Each to their own views.This is mine-not popular I'll grant you.
You've read my prev. posts on the IRC forum which cover my reasons-
basically:
JP IMO picks the wrong people to have dealings with eg
EGS,**AXF Resources and now the latest vendors -again our far far north friends.
The MRP takeover(their cash has almost depleted)-lack of excitement there.
The cock up with the mining contractor which we lost, costing IRC big bucks.
The failed option takeup (I was one of the few who converted for 90% of my
holding-I still hold).
The take up of RWD rights-big drop in that investment.
As I said before the now practice of camouflaging the cash with the RWD investment.
Dilution of IRC's SP with proposed large new issues.

** I understand this was a legacy from when MR was CEO.

Nothing personal but I'm not enamoured with his(or is it MR's influence)
strategies.
I bought into IRC thinking they would continue the proven IMO successful operations of
short term mining whilst expanding their exploration tenements and building
their cash up to $10m and continual self funding.To me the FML and AXF tie ups will finish similarly ie constant extensions of
agreements etc with requests to alter the original terms.It's a culture thing (excl. EGS).

In summary I see IRC's cash being continually depleted and the self funded spruik
become a mere pleasant memory of "what once was ".
So to conclude I much preferred IRC the way they were going before either MRP
or FML.
Could be I'm very wrong but I'm not alone albeit few would admit it(except Crom Valens
-whilst ST78 sold off ~800,000 of his orig. 1m IRC holding.
The "canny" ones sold their IRC shares quietly much earlier on and saw what was happening-
-despite the low SP seems they haven't yet returned.
Time will tell what transpires with the IRC SP.
The above is just me being candid-I don't expect many/any to agree with me.
We'll have our day James...for me, there's no option but to wait.....at 20c, I'm in the green again, at 30-40c, I'm on cloud 9.

Patience and patience......selling out of EAR recently - at a major loss - has taught me a valuable lesson.

DF

Expand

DF - IMO we're probably more alike than you may like to admit-both in the same boat.
For me the big issue is the huge change in strategy.
Anyway I always enjoy reading your posts.
One compensation-playing the Juniors is more exciting than the boring safe blue
hips.A bit of the gambling bug in most of us on Hot Copper.
Sorry to learn about your EAR investment.I'm sure you'll recover it in many other
ways-hopefully following JP.
Good luck and a thumbs up.

FML Price at posting: 29.0¢ Sentiment: None Disclosure: Not Held
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Ann: Focus Enters into Exclusivity Deed with Intermin Resources, page-28

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