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If, and its a big if, they manage to get re-listed anytime soon, you would hope it also comes with some decent news attached as otherwise I could picture a big sell off on re-listing.
This extract is from a RNS released today in another company, spot the difference with the GCAT RNS and you're deliberately left to make you're own interpretation of the timeline.
The net proceeds of the Subscription will provide the Company with working capital to support the strategy to progress... through the next 16 months on the Company's current cost basis.
GCAT RNS
The funds will be used for working capital by the Company and its subsidiaries.
I don't rule anything out with small caps.
Everything contained within a RNS is always open to interpretation. The latest raise was for working capital for the company and it's subsidiaries.
Working capital funding refers to the financial resources a company uses to cover its day-to-day operational expenses and short-term liabilities. It's essential for sustaining regular business activities, such as purchasing inventory, paying salaries, and covering utility bills.
Id be suprised tbh bebeto, simply as 700k plus went into the books a month ago.
Thats about the only reason which would suprise me though. If it wasnt for that then id not be suprised at all as all the waxed lyrical hype robbie did one day before suspension, given the mad amount of time thats passed since, with barely any comms, going under wouldnt have been that absurd a thought.
Either way, time will provide us with the outcome even if the company cant as they dont have an unlimited amount of it to file the accounts.
Thanks for that Bebeto.
My GCAT holding in Jarvis account it didn't say thst beforehand but if it's still showing on other people's accounts thats fine by me.
Please excuse my ignorance Bebeto, but what does this refer to?
Not on mine no. Doesnt help you either way though as not showing on mine doesnt prove much
Anyone else have this?
Expect to see a period of zero production and any production shown will be very small.
Audit should be reasonably OK, it's the unaudited results that will show how insolvent the company is.
Interesting points. The gallows were last used in England in 1964 so not that long ago all things considered! On a more serious note, I would think they will have to RNS soon. What could possibly be the problem with the audit?
We're not privvy to the negotiations between the Company and the FCA, so everything is conjecture.
But the reason I say June is two-fold,
After June the Company will need to do another audit and secondly by my estimations, the latest working capital raise might not cover beyond June.
My understanding of the main market is they have until June, the FCA has the authority to remove a company anytime after 6 months suspension.
It's not AIM listed nor ever was, FFS.
Gold at $2416...
That's crazy and we should all be rolling around like pigs in the mud but sadly not, does anyone know how long a company can be listed before being delisted?
6 months in now , anyway have a good weekend and we will see what the rest of April brings if anything, at least there is sunshine outside
Are there problems with the audit and/or with the FCA?
The whole situation is just an utter ruddy disgrace !!!
There have to be consequences for the Board.
In noted a Tycoon in Vietnam was sentenced to death for fraud the other day.
Not saying the FCA should adopt such an extreme policy but they have to get their act together to better regulate AIM or you might as well shut it down.
Have to agree with a lot of what SW posted. If this is relisted then the CEO needs to go. Clearly out of his depth here, god knows why this is taking so long.
Imagine gold being $2400 and the company isn’t issuing any operations results and in suspension.
I’ll keep hoping for that RNS but unfortunately the longer this goes on I will just have to accept this was a disaster share.
Good luck all
As my good lady says, not saying is a form of lieing!
RM couldn't fool everyone, I see right through him and his lovers.
50/50 whether this comes back IMO.
I'm only a small investor here, I just read the board.
Not a clever man, how can this be that six months have now passed and very few comunications, except about the audit, any other company would be hauled across the coals by now.
I call it stealing, here Mr Caracal have some of my hard earned cash and ........ do nothing, I can't even sell my shares.
I'll keep my shares and wait (can't do anything else) but there needs to be some fantastic news to stop me from selling. Surley 50/50 that it ever trades again.
Fully with you on this although I've bottom drawed this now, whilst I hope it will come back I'm also fully in acceptance the CEO has spun us all some fine tales , the most recent being the statement around the audit being simple and should be back and listed quickly in his last interview.
Also, the last RNS stating the results would be published end of the month... still no sign
With gold where it is , if they cannot be successful now there is no chance.
At this stage the only thing to cling to is the fact large sums have been loaned to them in the last 6 months and new equipment , those individuals would have done due diligence, also new people joining the company.
Being optimistic , maybe they are getting on with upgrades and will come out Phoenix from the flames style but given past statements I'm not so sure
Anyway, the wait continues. If this does come back and receives funding I would like to see more responsible people on the board and the CEO replaced
Ground Hog Share. I awake every day . I hit the RNS feed looking for the " Caracel share being relisted RNS" . It is'nt there . I curse Robbie .
I for the life of me can't even conceptualise how an audit of a small gold producer takes this much time .
Still crossing T's and dotting i's on that bloody audit? what a joke