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You still don't answer the question?
I think we all know that the reason the Directors didn't buy in the last Placing is because they don't believe the permit is coming!
Has any one of you on here, or any person you might know of, (in the last month or so that is) actually tried to either email the company or directly contact any of the directors in any other way? Just wondering.
All these negative posts are not bringing out any sellers. All discounted in the share price with so much more upside than downside.
Who`s on the rota for the next negative post ??
You evade the main question again!
You said the Directors can only buy at certain times, so why then didn't they buy some at the last Placing? They obviously have no confidence of getting a permit. This is the worrying part!
No placing needed for many months. Next placing after permit grant will be at a much higher price.
Ericeric, the Directors could easily have bought in the last Placing if they wanted to!
So why didn't they? It definitely does not inspire confidence.
The way things are going they will need another Placement, and what price would that need to be at? Probably c.1p I would suspect!
As you well know Directors can only buy at certain times and you would be the first to complain if they bought ahead of news. After permit grant they could be leeching gold from surface within months. 10p quickly.
I don't altogether agree with you there, spottydog...but, who knows ...I have been wrong many times before. As for your contention, ericeric, that an environmental problem has been the issue and is now "resolved" -- load of crap!!! If that was the case why have the directors not been buying in big time over the last couple of days? Total hogwash!!!
What I don't get is why it's thought that the said permit will make much difference, maybe a short lived spike if your lucky, a chance to get out. But then drilling for the next however long till they pull the plug and move on to the next big money pit.
I believe the delay was caused by an environmental issue at the JV partner`s mine that has now been resolved.
Would you care to try and explain the refusal to issue the relevant permit(s) then, ericeric? And please, don't give warring brigands, internal power struggles among local politicians or the Russian mafia as the reason(s). If that is the case then somebody has not been paying the candy have they?
Absolute rubbish. If you had visited the site you would realise how supportive the local community is and how much they want the jobs and the boost for the local economy.
I strongly agree with incompetence, MontyUK...but there is also one other thing -- ARROGANCE!!! Arrogant: someone who is full of self-worth or self-importance and behaving as if they have a sense of superiority over others. If I had to guess I would say some person(s) has/have been strutting around rubbing the local populace, dignitaries and law enforcers up, very badly I might add, in the worst possible way. They have obviously thought they could just walk in and strip the indigenous communities of their God provided wealth. Errrr...nooooo, boys, it does not quite work that way. Now all grow up and go and dig somewhere else before you all get your little bottoms well and truly -- SPANKED!!!
Monty - you're probably right it can't be a con, but it sometimes feels like it.
Trouble reported in Georgian Parliament and on the streets outside in Tbilisi yesterday with aggression shown against Russians. And today Putin has stopped all Russian flights to Georgia. Not only does this look like bad news for Russian investment and relations in Georgia, but it could also damage any chance there is left of getting the permit because the JV partners outright owners are Russians who they already didn't like!
Hope this problem is fixed soon, because Georgia really needs Russian investment, and their tourism too which has shown huge growth over the last few years. And to increase the chances for the permit!
Not a con... it can’t be. No sensible person would be on public record saying imminent and all the other positive statements. It just leaves incompetence I’m afraid.
Is a terribly disappointing situation now.
It did look very exciting, great potential assets and an experienced new team. I invested just a few months ago and really thought then I was onto a winner.
But still no sign of the imminent licence, and total silence from our new CEO who I had a lot of belief in. The BOD have I think failed their shareholders badly. No sign of them buying any shares either, they obviously don't want to risk any of their own money? That says a lot!
Now I feel that maybe it was never going to happen, and might even be a con!
All I know is that the BoD has got a LOT more wrong than right. If a permit lands, I expect transparency regarding why, though assume it won’t be given. No investment either by individuals like Gregg over several years says it all. Don’t get me wrong, I need this to turn around otherwise I’ve lost a lot, but frankly would have removed Gregg two years ago for being hopelessly ambiguous and lost in his running of the business.
I met him once, and asked some direct questions to his face. Didn’t get a straight answer then either.
Congratulations, Dave85, for spouting the most obvious, long-winded, self-important, pompous, overbearing crap I have ever heard. Yes, you annoying twerp, quite correct -- they need a bl..dy permit!!!!!!!
Likely very diffucult situation for BoD, the political timing was unfortunate, they did as would be expected and reported feedback to market (without gaurrantees) with the reasoned and seemingly reasonable expectation of positive outcomes and used the word imminently, (often unwise regarding uncontolable events) possibly to protect existing value of shareholder paper positions.
Once they've said imminent they can't really say much else without fresh and varying reliable contact with decision makers. To continually month after month repeat would likely only make things appear worse. What they can do is show support (when rules permit) by making on market purchase, they have done this.
BoD include seasoned professionals with a good industry reputation and not at the end of their career either. They are stuck and the situation is bad theres no doubt and the priced in perceived risk of the permit never materialising has, imo, been progressively priced into the stocks trading value. The BoD are still here.
Just for example is it fair to say that if an expected crucial permit has not arrived after 6 months, then it still could do and a risk by a speculator is warranted based on expected gains upon eventual arrival, yet if said permit still hasn't arrived after 9 months and the apparent upside has doubled (in the context of no material news as to significantly alter decision expectation) then any speculation is irrational? I do not believe this hypothetical (haven't worked out dates, prices etc for GEOs permit scenario) scenario to be true?
Personally I do not.
Assurance that the recent raise would fund Co for 12 months - maybe some guidance would be useful. Alternatively if permit is recieved and activity restarted more funds likely required so such statement would suggest expectation of no permit for extended period which isn't the impression the BoD had, or judging by most recent comms, have.
Perhaps the BoD have formed the impression (rightly or wrongly and no implications meant) that the sp decline must be left to run its course (as I have) maybe they will add more maybe not (again rules permitting). Some may say motives exist towards a low sp prior to permit arrival for some parties.
The power over the sp (and likely in the order of several multiples) now appears to rest with the decision makers on the permit. That much would likely be agreed between most posters on this BB?
Personally I feel the change in surrounding circumstances around the decision to grant or otherwise the permit have not sufficiently altered to prevent me slowing increasing my modest exposure to the risk reward assymetry I currently consider on offer in geo ownership.
I've been very wrong before (recent example bzm) but also got things right a few times, part of the reason for putting money on aim - excitement (just a hobby for me).
If it does arrive - should be action stations as they've had plenty of time for paperwork etc now.
ericeric, regarding your comment about me perhaps being some sort of underhanded deramper -- nothing of the sort!! I bought 10000 shares in this company at a price of just over 3p a share. It was quite simply this: a day at Chester race course or a complete punt on an ailing company with the slimmest of chances. They were one and the same thing: an old knackered nag with a hundred to one shot. With such a trifling investment I find it all rather amusing actually. Cheers!! P.s Even at these prices I would not buy in here; in fact...not at any price below 3p.
By the way, I'm not happy to see this dropping. But it does make me more annoyed to see how the company sold us this project!
Spotty, that's what I was thinking too. All those wild claims, and at the same time the sp continuing its downwards spiral!
Is this Eric for real, met the bod and JV people, knows the financial situation. What a load of b s. There are some dreamers on these boards but Eric wins first prize. I don't believe a single word of it. What a plonker
I have followed this company for some time, met the Management and JV partner, and visited the project in Georgia. I met the Co again recently at the time of the placing. I can assure you they will not be running out of money in the next " couple of months" however you may wish it.