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Agree with that statement fully
Pickedpeck
You actully get permissions to develop and progress the main asset (Clogau) BEFORE you start buying up slices of oil fields and patches of dirt in Greenland that come to nothing and result in catastrophic value destruction and......wait for it.........PLACINGS to support the consistent failure.
You 'obviously' process the low hanging fruit and send all concentrate from the waste tips off to be converted into GOLD and SOLD to help fund the re-opening of a simple, previously constructed MINE that required/requires NO blasting, digging, or major construction.
You walk past the walls and seams that are there for all to see and get a human to hold a drill and start MINING the rock for it to be crushed and sent off for processing.
You don't spend well over 5 years LYING about expected production start dates when you can't even get permission to rehouse some Refugee Bats and cuddle some Otters that may or may not be swimming about in the Jacuzzi ALBA provided for them when it emptied a hole in the ground at great expense and then watched it fill back up again within a few days.
ALBA Minerals, the only company that pays to drain a cave of water and ends up with MORE water in it when the lads knock off for the weekend. Take a Bow George.
And as the piece of useless kit that for some reason could only come from South Africa (that didn't work), you obviously weren't invested back then or you would know it was yet again.........a complete failure.
Never mind, only a QUARTER of the value of this dog-toffee company wiped out for less than £380k, I'm sure GF will get it right........This time.
Oh, raising money for business is easy if your plan makes sense to the investors. They expect a return and want to see the previous track record of the company in question. My boss has raised over £12 million to fund legal claims so he doesn't have to use company funds upfront, it wasn't difficult for him to do so because he has proof of concept, and those with deep pockets come back for more because strangely, they LIKE having returns on their investment with no requirement to lift a finger other than to sign a contract.
GF can't even lift an otter out of a hole without a placing.
No more from me to you mate, good luck setting fire to your cash (before GF does).
Funny how when a share drops substantially people you've never seen post before pop up spouting dribble .
Tygra - horse sh*t. Nothing in your post makes sense let alone rings true.
Tell us, how do you develop a mine without money?
a - place shares
b - raise unsecured debt.
c - fail
Which option would you have them pursue?
To those STILL fluffing this CEO and expecting a gold mine in Communist Wales to make any money for shareholders, give your heads a wobble. How many placings to empty a few buckets of water out of a hole only to watch it fill back up again because (surprise surprise) it rains in Wales during winter?
Not a single gram of gold sold and a supposed pile of waste that you could sift with a bucket and spade and STILL there's no RNS that has a £ sign in it. They bought a special piece of kit from South Africa a few years ago when they said they were starting production (how did that turn out?), it didn't even work and sort/shake as it was supposed to and looked like it was bolted together on an episode of Junior Scrapheap Challenge.
It's a gold mine, there's gold down there, it's already built, it was in production up until about 1998, it's in the UK and there's jewellers waiting to take the Welsh gold, but STILL they can't get a single gram of saleable gold out of an actual gold mine after more than 5 years of placings trying to do so.
Pathetic
Jg, I take on board your point. I’ve been here for years but not decades.
Is it slow? Yes
Is it painful? Yes
Is it burning cash? Most likely
Is it under capitalised? Yes
Do they need to prove up a decent revenue stream? You bet they do and the clock is ticking
Currency is getting harder to come by these days, the market is tough. They raised risk money successfully this time against an unproven asset. Could a new person in the chair do it in this market?
Another GF farce milking this company while share holders are shafted well done George
'Where the business is at I look on it as at least it can still successfully raise funds in the market.'
Having to offer a 30% discount to raise an additional 7% of the issued share capital and leave the entire market cap down by around 20% is not a success.
“RE: Re placingToday 08:16
It is difficult for sure.
Where the business is at I look on it as at least it can still successfully raise funds in the market.
But how many more rounds can they go?”
We were told no less than exactly *THREE YEARS AGO* that they would be using the waste tip spoils to generate “early” (laughable) revenue streams to mitigate future placing. Not only has there been SEVERAL since that time, but we learn this week they’ve not even tested the contents yet of the spoils and still require planning permission (IF!) they find there’s economic quantities. Seriously what have they been doing for 3 years. Every time GF describes their current activity and timescales, it sounds like people milking a wage and getting paid to turn the handle on a cottage industry.
#nookie im lost for words, lyterrally it was going to happen but the timeing is somethink else im left holding im not spending one penny more in this even if they found an kilo brick of the stuff i have no faith in alba what so ever, vasaline and **** comes to mind
Every time I refresh this page, I see his fecking face.
It is difficult for sure.
Where the business is at I look on it as at least it can still successfully raise funds in the market.
But how many more rounds can they go?
the timing of the placing today and the appallingly low price is a ******* disgrace. i’m absolutely sick of the constant dilution. why could the placing not have taken place prior to the rns earlier this week? i’m capped out on how much my broker will even let me purchase, so have no ability to average down. i’m just stuck with a free fall share which forever loses me money and has no likelihood of reaching its old value given the endless dilution at ‘bonanza’ discount prices always immediately after any positive news so that the share price never recovers. we receive good news these days and don’t even make it back to the point the price used to fall to on no news or bad news. race to the bottom this share. all the tampers can get to ****.
For all shareholders who think GF is doing a great job there you have it. Raising money at 35- 40 per cent discount.
At mates rates i believe.
As allways one step forward and two steps back.
I stand by my previous comments of having no confidence on GF.