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I'm assuming 2 things:
1. 2022 accounts now published have been audited therefore this is not a blocker
2. the company wants to vote on the finance package and admit the new shares is approved, at the same time at relisting. Otherwise, it is in a chicken and egg scenario - it unsuspends, without a voted finance package which secures it as a going concern, shareprice goes to close to 0, equity funders don't fund. So better to vote on the finance package which rescues the company, rescue the company, then relist. If only Horizonte could have done the same thing.....
So what needs to happen next ?
I’m presuming that the annual final report for 31st December 2022 have been audited . No mention of them being so in the RNS of 10th April 2024. Although a line item for audit expenses appears in the report.
The subsequent interim report does state it’s unaudited.
The RNS of 3rd July 2023 stated:
Trading on AIM for the under-mentioned securities has been temporarily suspended from 03/07/2023 7:30am, pending publication of the Company's annual audited accounts.
What needs to happen for it to be relisted ?
He may have gone, but I’m sure the ghost of The Publican still haunts the board, and he will have a cheeky read now and again. Time will tell if his views prove to be true or not, but we all hope the current glimmer of light turns into a shining beacon of glory, and we all have enough money to buy that fully loaded Kia Sorento I’m sure we’ve all had our eye on.
Excellent ! His fascination with Wasa and his holding made very uncomfortable reading.
ThePublican777 has left the building. He left four long messages this morning mainly directed at Wasa with his usual messages to him. This was on the HZM board. The last thing the publican said was he was emailing the administration to get his account deleted. Hence all his messages deleted as well.
The Publican
Your meltdown here is understandable, which I imagine is mainly borne out of the disappointment we’ve all felt. However, as Ian Dury sang, we have reasons to be cheerful. one, two three.
It may prove to be a stay of execution, but with the top end management no longer hindered by the Scarlet Blimpernell, I am reserving judgement.. for now. I don’t believe £1.8m would have been parted with without a pretty clear route map as to how they intend to go forwards.
It’s fairly well documented that gold mines in Ghana don’t always operate in a straight line, but we just have to hope that their plans to get substantial money out is via declared gold production and therefore increasing share price (and maybe selling it wholesale), and not ‘other means’. If it’s the former, then we should still finally benefit.
Hi Publican 777
Thank you for your apology but there was no need. I too am fed up with all that is going on but we just have to
see what happens and try and get the best out of it. I am not at all happy with the way the people on board have performed as it shows a complete lack of management which is totally unacceptable as they are using our hard earned cahs
Publican
Why on earth should I be ashamed of myself, the same as why on earth are you worried about other investors?
We all make our own decisions based on our own thoughts, I would not tell anyone or advise anyone what to do
for two reasons, firstly, unlike the sounds of you I don't profess to know everything about a share and secondly, it's none of my damn business who puts money into whatever they want. I also never said I was supportive of the management, I just stated things I have been told, doesn't mean I agree with it. I am here of my own volition, I have money in this share and want to at least get my money back, luckily, it only has to go to just under 2p to get it back. I have made many mistakes in shares and lost money and I have no problem admitting it, again fortunately, I have made more right decisions than wrong, that is the only thing that matters, some you win some you lose, but I certainly wouldn't preach to people like you do on this board. However you do what you think is right and I wish you well, P.S Can I have that larger and crisps please
U Ok hun?
The Publican
Not wishing to start an argument, but don't you think the board already know that the money raised
is not enough to complete everything they need to do? They are probably trying to get the mine to a point
where everyone feels comfortable enough to move forward. And now your giving advice on HZM.
Are you a Sage 777 and as you are a Publican, I'll have a packet of sage and onion crisps please with a larger
Thanks, that will be 2 ounces
Well the why is easy to work out if it is as hypothesised. Better to own 100% of a lucrative gold mine than 15% or 30%. In a sense it could be a positive that it was worth going for, it might mean there is some gold in them hills. I would presume AIMS as the creditor didn't go for the game, they preferred their money back with interest. I literally know nothing too, just speculating on the speculation.
Kenny 52
Hi Kenny
Please don't shoot the messenger, I am as confused as you are as to why Bill would act in the way I have
been told he has assuming that it is the truth.
... Me too, Phew!
I'm going to have to re-register my handle as 'Manuel', as 'I (clearly) know nothing'. Where's all this information coming from? Or is it basically guess work?
Well when I emailed him (Bill) he said he was working on a deal that would benefit all shareholders. Sounds like he meant his own shareholding ;) Subtle and easy mistake to make. Allegedly.... btw no strong view either way but it does go on and too frequently.
Edzi
I think these are all good points, and fairly consistent with what I’ve heard. It’s not strange or surprising that Bill allegedly wanted it to fail, even as a big shareholder. Why own a percentage of the shares when you can own all of them? So the ‘take it down and buy it back for nowt’ theory has merit. Although still a substantial shareholder, Bill/Paracale don’t own the majority of them, so his influence is now much more limited. I reckon all of the other big shareholders are massively pleased about that.
So what is being alleged , if that is the correct phrase , is the financing to get the mine open was a sham … that Bill Trew set Emma as a fall guy / lady .. then Paracale would then presumably bid for an insolvent business knowing full well there was plenty of gold .. just needed the right equipment and management ? Wow .. typical AIM scam then ? Be interesting to see if this comes out later .. for the moment we can hope this will be sorted .
Corrumpo
From what I allegedly have heard from people nearer the situation is that Goldstone were given second hand equipment from Paracale that was not suitable for the mine which caused huge problems. The management that was also supplied by yours truly were also not good and the Chairman had his own agenda which seems startling given that he had shares in the Company and it was failing. The processing of the soil was also a big problem as we know. There seems to be a lot of gold in the mine that they are trying to produce from and drilling should give another load that they know is there.
To me I think that the money they have received is to prove that it can be done on a commercial scale which they should be able to prove, then there will be a situation of being at a crossroads with what to do next. Ashanti gold that is next door had these problems as well, the only thing I think is if they knew Ashanti had the problems why didn't they set up knowing that the same might take place. Anyway now Trew is sort of out the way let's hope List can be positive and help Emma sort the thing out. Although Emma may be a lot of things she did have her hands tied behind her back trying to operate the mine when Trew was there by the sound of it. This is what I have been allegedly told whether it is true or not is up to others to decide
Trew may be gone - but his company, Paracale isn't! And Paracale are GRL's second biggest shareholder.
Ms List has had her disagreements with some, but I've seen nothing untoward; she just fights her corner!
I think the most positive thing is the change at the top. I only know a little of what has gone on there, but as a result, personally, I’m happy BT has gone, and Paracale aren’t mining it. However…it’s Ghana and it’s Angela’s home turf, and all that goes with that. The press surrounding her is, shall we say, mixed! But it certainly wasn’t going anywhere with Bill, so we’ve had the best result in the circumstances for this stage in proceedings. As for 1.8m only keeping the lights on for six months, I doubt it. They’re not going to jump through all these hoops in order to have a very short term stay of execution, so they will know stuff about potential recovery that we don’t, which will have given people enough confidence to still see this as a worthwhile project. Otherwise they’d have turned the lights off right now and not wasted any more time/money. The AGM will be an interesting forum this time round!
Apologies Corrumpo!
Hopefully you know of some positive news however from the sidelines it appears to be playing out like a 'hair of the dog" scenario at the moment.
I wasn’t talking about you Fishun.
And you don’t know what I know :-)