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Glad I’m not the only one who sees where this is going whereisthegold! This will now be delay tactics and holding RNSs until end of year when everyone but PIs (who sadly are the ones who funded this all and will sadly lose out) see BTs plan unfold and a profit be made for someone to finally take hold of what has been a shambles of an operation these amateurs just couldn’t handle.
They did a very good job of hiding the incompetence in the early days I have to say and it was all looking very promising but the “robbery” was where alarm bells stared ringing (haha well actually the lack of them was an interesting coincidence)
My investment here is written off in my mind so bar an miracle it’s another expensive lesson learned.
The tin pot operation built around what was supposedly a 50koz then 25koz etc etc operation with leach pads that leach everything but gold it seems have us in a position they can’t come up with a relatively small amount of gold to pay off the loan.
If they wanted to sort this out, they would have done so with gold at $1900 an ounce FFS…that’s an incentive and a half to sort your operation.
That might be a while in coming, I'd say!! No irregular or improper activity seems available. But it's so easy, on here, to make such vague suggestions, without any detail/facts.
Examples of prior BT malfeasance then?
( ´~`)
Conjecture is normal - but we don't really know what's happening. And are assuming BT is disingenuous. So far, that hasn't been his style!
(ー_ー;)
Yes - and maybe probably will own 50% soon ?
It's worth noting that Asian are the 'Secured Creditor'
And own almost 25% of the company
(*´,_ゝ`)
Mentioned long time ago this company needs real boardroom help.
For a company that 2 years ago stated they planned production of 50koz, then changed to 25kox, then 12.5koz then . . . . . . now its struggling with the 1871oz gold loan.
I assume most on here have been following this - it has not been nice to watch.
Wish GRL luck - but I think the Asian Investment organisation know exactly what they have been doing and they have a very well organised agenda to put against a possible poor managed gold mining company.
Rover in the past it has often been the D+1 to update on the gold loan situation, maybe they're negotiating down to the wire ore maybe they just like to keep us sweating it a little longer. I guess if not today it'll be Monday a.m. RNS.
Where is it?
I would have thought there would have been a RNS today as the the loan repayment was due.
10th November…..a day to go. Down to the wire as per usual but my guess is 10th passes and we hear nothing from GRL as they don’t care about PIs
What AIMS do here now will be very telling!
Game could be up before the delisting deadline end Dec!
“The Board is taking appropriate professional advice, but in the event that a solution cannot be achieved and the outstanding principal amount of the Gold Loan and accrued interest thereon (which as of 30 September 2023 amounted to, in aggregate, 2,354 ounces of gold) cannot be repaid or rescheduled prior to 10 November 2023, security over the Company's primary assets could potentially be enforced.”
Hope Bill and Emma can deliver this .fingers crossed
whereis - is exceptionally good at it
but doesn't know his **** from his elbow
just his daydream....
( ・_ゝ・)
Laughing at yourself is fun, isn't it?
BT, Asian, Paracale are the biggest shareholders.
Closer than a family - and not out to lose their substantial investments....
🙃😗
I just wonder if BT could be so stupid as to reply knowing it could be used against him in a court of law, if as you say he steals the company, and the shareholders bring a class action lawsuit against him.
Just a wild outlandish thought, just to stir up a dull morning. Lol
Hit the nail on the head. The writing is on the wall and for the naive ones saying look at the shareholders, Bill is one. Exactly….they have the votes to screw over PIs if needed, hence the years of palming off and contempt. As witg says, they now have the ability to take this private and reap the rewards without any regulatory scrutiny. Lucky them. Shame for us mugs
I do agree that BT will say and do what is in his interests which isn’t always the same as PI’s….despite him making out it is. Emma is also a joke.
This could well end up like Solgenics did with the BOD / major holders having the shares to vote taking it private when they couldn’t raise in this dire market.
I was inspired to write BT a stern email myself top SURFER so FWIW here is his response:
(Not sure what he means by a deal they withdrew from?)
Jake,
Obviously I can’t give u any information that is not in the public domain.
The 376 oz you mention was just this month, not the entire year.
What I can say is that there have been a number of issues that have arisen as a result of a deal which we withdrew from.
This caused us to have to inform the market of the worst possible outcome, a bit like the panic at the start of Covid.
We are working on a number of developments that should have a positive outcome for all shareholders this always takes a long time but hopefully we will have very positive news soon.
I still have a considerable position as you know and will be hoping for success in the future, I believe that the current workforce are well placed to achieve this.
In the meantime I appreciate your support.
Bill
Agree, Whereisthegold and it did surprise me how quick BT got back to me and yes he could be spinning us a line but then again why bother as we're already delisted and it's not like any of us can sell to bring the share price down. My thoughts are that GRL has a very strong chance of going under due to the debt and lack of gold delivery ............but there's a small amount of hope and a long shot as I personally think BT is trying to turn this around and gold prices are increasing so they may be able to secure new funding and BT does have some weight in the industry - IMO
As always, good luck, I was also foolish enough to get caught-up in 4D and that was a very quick and bitter end for all shareholders so I understand the risks here and it's gone very badly this year for sure!
Thanks Surfer.
If that’s true surfer . Good work
To my surprise Bill messaged back, which has given me some confidence again - see below his last sentence as obviously he can't share any sensitive market info but he did confirm the below which may help ease some worries for LTH's:
'We are working on a number of developments that should have a positive outcome for all shareholders this always takes a long time but hopefully we will have very positive news soon.'
Good luck all and we may have good news soon............
If this share had been trading what valuation would it have now?
I would guess less than 0.1p I haven’t lost too much £2k, but I’m still gutted and feel sorry for anyone that has lost.
We were all here for the dream.
Sorry for the multiple posts. It didn’t like the less than symbol
If this share had been trading what valuation would it have now?
I would guess
If this share had been trading what valuation would it have now?
I would guess
For what it's worth I've just emailed Bill Trew (bill@maed.co.uk) via his Paracale Gold email adds requesting any info with regards to the debts being called in, low gold pour etc . Obviously little hope of him responding and it's feeling like this was engineered for failure but then again Bill is an investor via Paracale Gold............I'm almost writing this off as another foolish penny stock investment but holding out 10% because of Bill's interest at Paracale Gold but I can't help but think that this has been pre-planned what with the recent accounts issue!
Good luck all, as luck is our only positive with this share!
I'm not sure I'm following the implications - my read is similar to the other poster's who said they're preparing us for a total loss. Is there reason for hope here?