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The reason why this won't go the way of AGQ is that insiders own circa 40% of TGL. Their interests and ours are aligned in seeing GOS through to the finishing line, which may well be early next year after de-listing from AIM, which is really an arbitrary deadline rather than a killer one. Once they can persuade the exchange that GOS has a growing revenue stream in its own right, from its current business product line, the door will be open to TGL/GOS again to re-list, even if we wait until 2016. That's my understanding of how it will work.
in Canada. Well TGL only produced huge losses when trading as a gold miner, the Canadian Tax authorities should owe us a tax refund if anything! ;-)
Yes but this could be a very long journey for us PI's, if they are not keeping us informed now, well can you imagine what it might be like if we are de-listed? And what will we likely end up getting back at the end of the day? Are the problems with Canada really that serious then? If they cannot resolve this after all this time, well IK and the gang are not the professional corporate finance wiz kids that we thought are they. I hope this is not more of the type of management shenanigans that have been going on over at AGQ, (also suspended and shareholders stitched up), been following events at AGQ with utter disgust and just goes to show how corrupt AIM really is.
Hence why I said it is what it is and we can't do anything about it. It does seem a mess buts that's why I called and I did get the impression that this going to be ok. GOS is doing well and they retained all the old clients and taking on new, they are also moving into other areas that are going to be very profitable. The short term seems bleak but the longer term I feel is going to be better. I don't think we will get our money back anytime soon and we are all going to be long term holders hedge!!
Fortunately though not one regarding GOS's business: "However GOS is making money in areas it was before on the policing side and they have other areas that are very profitable and hence why they have been attending exhibitions."
a mess!
Thanks Robspu, That's very helpful, and puts my mind at rest. It's reassuring to know that the auditor's aren't refusing to sign off the accounts for a negative reason. It sounds like we will be delisted, for a while at least, which I'm quite happy about as a long-term shareholder. It wouldn't even bother me if it was permanent, if the company decides that is in the best interests of shareholders; though a listing can promote a higher valuation and greater visibility. Stanhill and Peterhouse are ideal to arrange a RTO of GOS into a suitable shell. Maybe GOS will even merge with CQCL, with a joint listing at some point.
I spoke with Trevor wells, very surprised to get through and was not really very well prepared in all honesty. The company TGL is trying to clear itself of the mess that was TGL before in took over GOS. They are in effect trying to get rid of issues in Canada that relate to tax issues. This is creating a problem with the accounts and why they are not publishing them. To be honest it went over my head and I did not properly understand what was being said. The long and short of it is they want to create a new clean company away from TGL and the mining side it was before. This is proving to be difficult and things change daily and why the can't produce any RNS at the moment! However something is coming. I get the impression and these are my own thoughts that things wil not be sorted by Jan and we will be delisted. Trevor implied in my view that we still own the company but will be unable to trade as we will not have the platform to do it. However GOS is making money in areas it was before on the policing side and they have other areas that are very profitable and hence why they have been attending exhibitions. Once the company has sorted out the Canadian domicile (didn't understand that bit at all) they will have a more streamlined business and be in a stronger position where upon they may relist as GOS and we as shareholders will have a value here. What this will be to us is any bodies guess. More then happy to discuss my conversation with someone more knowledgable then me. These are more own interpretations of my private conversation but I see no reason why I shouldn't share these with you all. If I have misinterpreted anything that's your call to listen or not.
...any more messages. An error has occurred". Not a brilliant start to my effort at communicating with Trevor wells myself. Come on, happy_hatter, spill the beans on your successful attempt at getting through to him.
happy_hatter, don't you think it is a sensible approach for one PI shareholder, like you, to report back on here with qualifications etc, than a score of similar PIs to bombard Trevor with the same questions? Did you call him? Did you come away with a positive view of the outcome possibilities here? That's all peeps would be interested in learning.
I don't think Trevor would tell you anything that you can't repeat unless it was inside information.Perhaps you could therefore re-consider and let all of us shareholders know what was said?
Hedge - I've said it once before, ring investor relations. You can speculate all you like on here. Ring the company and then report back with your findings.
An interesting snippet from 1399peter on ADVFN on Friday evening: 27/11/2015 20:14 " ... If its being muted we will get news in Jan and a possible delist could be on the cards and perhaps a return of proceeds to shareholders, It will be disappointing without a doubt ..." If a return of proceeds to shareholders is on the cards, then that would surely mean that GOS Systems is being sold? Is this why the results haven't been published? Results this late is usually a very bad sign, but in this case the company has persistently said since the acquisition a year ago the the company is doing well. Something is going on, but what?
I know the shares are suspended but at the same time I do not want to give any mis-information about my conversation with Trevor or mis-lead anybody so like Robspu said call investor relations and speak to Trevor Wells or whoever picks up if you want reassurance. But in short, from the phone call I do not expect any solid update from the company to the market until January. I have ruled out any CQCL RTO right now. Trevor is going to look into why the shareholder presentation was not published onto the website. We spoke briefly about GOS, confirmed they attended Paris roadshow. Other GOS matters were discussed which I wont feel comfortable putting in writing on here. Trevor is a friendly guy from first impression so give him a ring. Don't feel you are wasting his time or TGL's time because at the end of the day if that's how they feel then they should update us shareholders more frequently via presentations on the website.
I suggest anybody with questions call. I had a very frank conversation and answered all my questions. Feel an awful lot better for the chat. Dont second guess what they are doing you will twist yourself in knots. We are where we are and we have to wait that they will do the best for the company and ultimately the shareholders as we own the company.
"When last have you spoken to the company?" Not as recently as you by the sound of it HH, so you're the one with the most up-to-date info. in that respect. I don't see any problem in posting feedback from your call: in fact I would imagine they're hoping you will, as it could reduce the amount of other calls they get. It can't be 'inside info.' because they wouldn't have been able to tell you. If it makes you happier, post it with an apology that you didn't explicitly clear it with them in advance.
where you positive after you came off the phone Hatter? Id hope they must be about to put the AIM re-listing admission document out
When last have you spoken to the company?
OW, Of course he does. He's a man of great honour and integrity. Many small mining companies have gone bust, but IK made sure that TGL was refinanced as a shell, followed up by a cracking acquisition in double quick time. From IK's Wikipedia page: "His special interests include philanthropy and Wittgenstein, and he is a member of the British Wittgenstein Society." https://en.wikipedia.org/wiki/Ilyas_Khan Wittgenstein was born into one of Europe's richest families, but gave away his entire fortune.
So you were happy with his answers then hh? Feeling positive still then?
I did ask him and he said he was going to look into that. I forgot to seek permission from him to relay the conversation I had onto here. So I will leave it there. I suggest anyone wanting to speak to the company ring the number on the investor relations site. Like I said, he seemed a nice chap and answered what questions I put to him.
Happy did you ask him why the presentation was never put up as promised?
Surely there will be some definitive news sometime in December, would they really reave it til the new year though, I mean if we are de-listing from AIM then there would be no rush to get an RNS out.
Ring Trevor Wells via investor relations. It's pretty easy and he is a nice chap.
Does IK really care about what happens to TGL shareholders? I mean, he has his finger in so many pies that he can presumably take a loss here but easily make it up elsewhere. Water off a duck's back, so to speak. Or am I being totally cynical without justification?