London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
We have until 10 November before the 6 months of suspension has lapsed. They did say they would release news in September, so I am still hopeful that will be the case. We might not come out of suspension if news is released but by November we may have the Concentrator Circuit running and a better understanding of whether the company will still be viable. No fat ladies singing yet.
Hmmmm.... did we expect anything less! I think they're going for delisting....
I feel sorry for big holders here but I really think we're fecked ..,.,, I took a punt ages ago and it's not got better
Talk about pushing the envelope.
Some of the creditors accepted shares in payment in earlier RNS? Surely the company would have to prove it was a going concern before their creditors accepted shares as payment? And Redstone Capital or Bergen whatever they were called were SOLD shares at a discount to the market by CRND-I am assuming they sold up quick and turned a profit putting ever more pressure on the SP. If the concentrator is working surely it would be easier to find a company with enough clout to make it profitable? After all most of the hard work has already been done.
You don't give up such a potentially lucrative business without a fight and we have fought to stay in business. I think we have probably performed little miracles to keep going for so long. I think the Chinese were our best chance. If it were possible to pump the water out, the Chinese would have been our best bet. The fact they walked away suggests to me that it is not an economically viable prospect at the moment. In time and with improvements in pumping technology and a better gold price, I think someone will make a real killing here. Sadly, I don't think it will be us. This is only my feeling on the whole thing, but I think that the silence from the company speaks volumes. I hope I'm wrong.. DYOR.
if the company is not going to publish the accounts this month as promised, then is the company under obligation to issue an rns to inform us?
It may help to balance the account books for income v debt, but from having tried to investigate PUNO, I get a feeling there is very little money if any that could be recovered. We may be able to pass some of this on to our creditors - sell it for maybe $3m but if PUNO really don't have any money then we may need to write it off (even though they hold shares which have a value).
thats gone to pay directors bonus's thats a joke btw
Wasn't a subsidiary of CRND awarded $5.684m earlier this year? By definition aren't CRND the parent / holding company of this subsidiary? Consequently, does this not help somewhat. Apologies for my ignorance on this (I'm sure it may have been discussed previously) but would appreciate someone "turning the light on" for me. Thanks in advance.
I hope i am wrong but I doubt there will be any RNS this month,just going on past performance
...why would they put out that last RNS, if things are going to miraculously change in 2 weeks from then? No chance, my money is long gone to someone else.
Don't think much is going to change from the last pAnsy RNS, they appear to have set us up for the big drop. Expect the worst to avoid disappointment in this case. I believe we will not get our money back , ppl will end up buying even more cheaper shares when this relists at a discounted price , hoping to recover , eventually you will get the company folding and a cute deal is orchestrated leaving us Pi's penniless . Imo. Gl all though . Hope this is not the case, but it's looking more likely a scenario to me.
Fingers crossed and good luck all long term holders.
2 mornings to go, well one if you count most RNS's release on Fridays seem to carry bad news. So, will it be tomorrow? What will the RNS contain? Will they release the current production figures of the widgets we make? Sorry, Gold, how much Gold we extract... mind you it might as well be widgets as for the past 15 months we have had NO production figures ( point deduction for repetition ). I sincerely hope that fellow PI's actually get something back from this debacle. We have all the gear ( kindly paid in part by us PI's ) and it seems no idea of how best to put this into action to date. I wonder if the board have considered handing back some of their salaries ( maybe thats a bit too severe ) in return for shares? Worth considering...Quite frankly I just hope they have managed to find the golden key ( concentrator unit ) to unlock the tremendous potential CRND has, it has to be said they have certainly put the effort in, will all be revealed by Friday? I wouldn't bet my dinner money on it if past performance is anything to go by, but I am ever hopeful of a new, bright shiney CRND within which I hold a few shares.... Frustrated and a little apprehensive Bournemouth.
Both China & Russia are stockpiling gold in favour of Dollars, South African mine anyone...??? http://russia-insider.com/en/its-happening-russia-china-dump-us-treasuries-buy-all-gold-they-can-get/ri18875
Good luck to us all!!! Lets hope the BOD have a robust plan to finally create some shareholder value.
An interesting week for both of us then. Good luck, we still need it... Simon
Totally agree Gibbo, from the tit bits of info the BOD have released since the strike, we appear to be surviving without further loans, even if it is hand to mouth, whether the situation changes once the concentrator circuit comes on stream and more revenue is generated quicker remains to be seem. However, I'm growing concerned that BOD are keeping us in the dark and seem determined to keep trading suspended for as long as possible..... I need 1p/share to break even on my recent purchases, however, I need 7.5p/share to break even on my original purchases, that includes averaging down a number of times..... with your $30 million estimate I have a chance of making something *IF* the BOD look after their extremely patient shareholders......
Agreed Winston, there is a great deal riding on this week.... I'd like to see a profit on my investment, but realise that I may not see all of it back, I am convinced that I will see some of it though, anything over $30m valuation will see a small return. I think we all know that CRND has a value, as to what that is, well that depends on so many factors. I am certain that that value will have risen significantly after the positive news received about PUNO, concentrator unit, staff bonus, water levels etc. I am interested in seeing the salaries / fixed costs breakdown and the reduction of debt you mentioned. Lets hope we get some good luck to go with the good news we have received.
Gibbo1066, Any figures will be most welcomed... thus we can at least gauge what the processing plant is generating. I'd especially like to see what the loan / equity issue money has been spent on and what debts have been paid down. Plus an update on recovering the Puno Court awards inc legal costs
here it is in black and white... Operational Update The operations at Central Rand Gold have achieved a steady-state in the past two months, from May 2017, with operations having stabilised. The Company shall announce in September, along with the interim report, specific details of the production figures from January to June 2017. I'd like to see the figures from June 2016 as we can then gauge a whole years worth of production against our fixed costs. 4 days to go assuming nothing released today... I just really hope they dont leave it until after the market closes on Friday.
Will they / won't they publish the interim results as announced, including the much awaited processing data.....
This has been one feck up after another .l this mob could not put nuts in a monkeys mouth never mind run a company ......
Agreed. Most of us would have used it as a chance to average down, but would of enough PI's have thrown more money at it?? However, using Bergen has done nothing but send the shareprice in a downward spiral, to the point where there's sufficient value left to utilize the outstanding funds still available via Bergen.