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That's what I'm thinking - I do believe once before they announced the extension _after_ the deadline. But I would expect to hear by early next week latest.
I'm assuming we will either have an update by the end of this week, or early next week.
Feeling like this is going to end badly, hoping my investment isn't wiped-out but the recent RNS is saying otherwise but in my opinion they seem to be prepping us for the loss............no choice but to hang about now until they're ready to reveal their plan!
Any positivity here ???
If you are all correct . I am about to lose big time . . .
I need some glimmer of hope
I reckon these foookers will take it private and shaft all PIs to reap the rewards themselves. Just like NCCL did (now Solgenics)
The loan is a gold loan of about 2000 oz at 14% interest.
Numbers do not add up.
The figures do not add up?
65k tonne ore @ 1.1g/t should be approximately 70 kg gold not the 20 kg stated. So in theory 1200 oz in progress to be shipped. Hummmmm!
If they survive this is going to take 12 months of SOLID production to become profitable...
Ghana takes a large cut on Gold being extracted and sold. As you said Opex is going to cause debt and causing the share to have more issues.
They have 1 shift doing extraction, if they get up to scratch they will will increase the shifts...
Lets assume they do and in the same time period they get 4x 20kg in gold thats nearly $3M GROSS
But again this is still not enough and will take time to recover and grow...
This needs to explode in a good way for recovery, but I cannot see how it can do that. if it recovers were looking at 2025 IMO. I've lost 80% of my value in GRL, So I've wrote it off and stuck.
I WANT TO BE WRONG! But I just cannot see it...
That also reads to me as 652oz for Q3 not the full year. So around 900oz to date in 2023. Woeful really. Especially when margins are tight and as you say capex and opex hasn’t stopped!
They need to produce the H1 interims by end of this month anyway wasa so we’ll get a more up to date picture fairly imminently. Not that it’s going to be pretty!
It reads like the gold produced is for Q3. But a tad ambiguous
This statement is concerning of course:
"the Board is therefore confident of obtaining an extension in the coming weeks, however it is noted that there can be no certainty as to the outcome of these discussions and that, if an extension cannot be agreed, security over the Company's primary assets could potentially be enforced."
the only protection really we've got as shareholders is the other big investors (like the people who invested in January this year) who would be wiped out if AIMS took the lot.
My other question is what is paying for opex right now. That's not a lot of gold to pay opex and attempt to repay the gold loan so where is cash coming from? The soon to be released accounts (which unfortunately will now be 9 months out of date?) won't reveal all.
The one thing I'm trying to work out. the 20kg Gold produced is that just for Q3 or to date... I think its just Q3, but I'd appreciate a 2nd opinion...
I've a feeling they will be supportive. If not only for the reason you give, they've veen very relaxed in the past.
The rns isn't the greatest, but neither is it a death knell. Proactive on the plant and machinery and producing gold, ( albeit not enough )!
Good luck all.
Doesn’t read too brilliantly. At least they have still been doing something but it is literally like reading a transcript from an episode of Gold Rush.
They clearly just haven’t a scooby do what they are doing on a corporate or practical level!
Hoping AIMS are supportive - I would think for them, they are now in so deep they might as well see this through.
AIMS is the company's largest shareholder....
( ´,_ゝ`)
" . . . the Company is currently undertaking a review of its Homase production plan and forecast. . . "
We;re dooooomed!
In other news!
Ghana inflation has decreased by 3% this month lowest since October 2022... So we need another 30% to go back to pre Ukraine...
Also diesel is 12 Ghana Currency was 6 Pre Ukraine...
So we need that to drop as well...
>>250oz of gold.
which is hopefully not the 'full pace' at which mining is continuing - i.e. it would be better if the pace was higher.
>>I'm reliably informed the mining work is continuing, at full pace.
Informed by whom - if it's a reliable source then somebody close to the company - any chance they could inform all investors/shareholders - I believe the traditional mechanism for doing this is via the the Regulatory News Service (RNS)? Because the only publicly available information at the moment is that 8 2/3 months into the year we have produced 250oz of gold.
In other words, you haven't a clue what's happening! However - I'm reliably informed the mining work is continuing, at full pace.
(@ ̄□ ̄@;)!!
Do you happen to know the coordinates? Had wondered about satellite imagery recently.
I dont know when google maps last updated but looking at the pit at goldstone there is still activity.
6 months or you get de-listed is my understanding. But you probably already knew that....
They should be able to update on the operational aspects during the suspension - the last RNS made that clear. Not holding my breath right now for progress on either front. Poor, is what it is. But it is a private company, in effect, with the shareholder structure so as long as the big players are happy the BOD can keep treating the small fry like -> small fry.
As we have been de-listed for quite a while now and presuming that business is going on as usual, is there any need for a re-listing?
Is it a must?
Is there a time limit?
(Asking for a friend)
Your final paragraph is intriguing, bearing in mind the dearth of information. But Bill Trew is a highly accomplished operator - with a network of similarly experienced personnel - and I feel that he's the one to bring this company forward. And has all the necessary connections.