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They're running scared because they don't want a shareholder revolt and probably by the time there would be one it would be too late.
The weakest comeback is to say HNW individuals have invested but they use their losses as a tax benefit which mitigates their risk.
Why do you post a single full stop Folio ? You do it quite often and I don't understand it. What does it signify ?
Hodgeyd,
The RNS updates every UK listed company issues is to update the market, all entities /investors can use this information to form a basis for them to make investment decisions about the said company.
The particular RNS segment that you have taken issue with, has actually helped form this thread title and has nothing to do with the date or an old article not issued by the company.
I've reposted the segment at the bottom and understand this:
If the Company continually fails to deliver it's aspirations set out in a RNS then the market update cannot be relied upon to form a basis for making investment decisions.
There's no point in having a mining expansion plan, no point in raising funds, no point in relisting on the market if none of them can be delivered.
RM has continually failed to deliver, the company has actually declined significantly and therefore in my opinion he should be sacked, he's totally out of his depth.
The Company had issued to the market an official update from the CEO on delivering the Company's aspirations for the next 12 - 18 months.
A lot of money was invested on the back of such an update as the one below and he failed to deliver.
RNS 8th October 2021
Robbie McCrae, CEO of Caracal, said, "Our focus at Caracal is on rapidly delivering on our strategy of becoming a +50,000oz p.a. producer and building a JORC compliant resource base of +3Moz within the next 12-18 months. Whilst we will continue to increase production at our Kilimapesa Gold Mining and Processing Operations, in parallel with this we will be focused on our aggressive acquisition strategy and on our exploration activities on our mining and prospecting licenses at Kilimapesa where the potential to increase our resource base is significant.
I would just ignore Bebeto, he's just a walking contradiction who has wasted many a day of his life on this chat board instead of doing something useful with himself or for anyone else in his life. Every few weeks when I glance at this board and still see him posting here it tells me he's likely a very unwell individual. I hope he gets the help he needs. x
@Bebeto…….AGAIN
You say you’re not bothered about old articles, but you had just posted info from October 2021 in your message immediately prior. Make your mind up or are you just telling everyone else what to do and ignoring your own advice?.
If you’re not bothered by old articles why quote them?
Bebeto, I don’t feel the need to big up Robbie or constantly post positive things just because I have a holding here.
For me it’s been a long and very frustrating 18 months almost, not ideal by any means but am I worried, no, not much at all to be honest as even if the funding doesn’t land straight after re-listing they have other HNW individuals waiting in the wings who have already sunk quite decent sums of money into this and they won’t want it to fail due to a lack of funds, so I’m betting they’d be more than happy and willing to offer more funds if they’re needed, to protect their existing investment, they’re not stupid and only invest if they are very confident of a good return.
I pretty sure we’re close to getting ducks lined up and newsflow starting and being told that the company will come back fully funded, and reading the way last nights RNS is worded suggests to me that funding is all but waiting in the wings for things to get back to normal and prospectus sorted, accounts/audit done and we can move forwards.
People here are just seeing the basics and seeing just negatives and constantly posting negative comments to fuel others fear and scaremongering.
A lot of non factual posts too which doesn’t help.
I’m not wearing rose tinted specs either, I’m just seeing things for what they are and taking all past information into account and keeping a level head based on the facts.
I remain cautiously optimistic of a good outcome here and will continue to do so until official news comes out to the contrary, although I don’t think that’ll happen.
I think Im compelled by the contrast of you insulting most of everybody here, multiple times a day, while simultaneously playing the victim card at anybody who calls you out on it.
Why do you feel the need to reply? Clearly you're not in this conversation as your condescending reply suggests your motive is to discredit and intimidate me into not airing my views because you don't want to read them.
You know how to resolve this and that is by you using the filter facility.
Have a nice life.
Beginning to think the thing you've been saying twice a day for the last year? Yep. We got that.
LW,
I meant I'm not bothered at this moment in time, I haven't ignored them (if it's what I think it is about a family member).
There's a whole host of things that need to play out and then we can see the direction of things.
I'm beginning to think that some people are in so deep they have no choice but to publicly display a positive attitude towards RM.
The rest of the world can see the gravity of the situation and the possible collision course.
Imho it's naïve to ignore them completely, when you consider what has happened to GCAT. But I'm not invested here, so don't need to worry that too much.
I hope there's a happy ending to this suspension for those of you invested here. Can't be easy this, especially if you have a sizeable investment here. GLA
I'm not bothered about old articles, we should be calling for an EGM and have the BoD removed before the pending car crash happens.
When I read some negative press. Particularly when it is sudden and shrill, I like to check some of the source's other material to get a fuller picture of the credibility of the source.
JC - there are articles online and anyone can google them. I don't know if these articles relate to the same people as in GCAT, which is why I posed the question. Others might know better.
Legalwolf - it is one thing to air things - we have been airing old ground time and time again here.
If you have facts please share them and the relevance to GCAT please.
JC - it doesn't matter what is posted right now, or what seeds are planted, the share is suspended. It's open season right now. Might as well air everything in readiness for relisting or bankruptcy/strike off, whichever ends up happening.
Hey Mickey - with a goldmine and existing HNW investors already with a big stake / financial commitment, I think the odds are much better than that. Are these HNW's going to let this fall over and they loose their investment?
ATB
Legalwolf - I am not aware but full marks for a post planting further seeds of doubt. Maybe do your research first and get all the facts straight before posts like this?
That was a low punch and not required!
Unbelievable.
Have there been previous companies involving this BOD which have been left in bankrupt with a lot of debt? I seem to recall reading something about this last year when that online guy was raising his GCAT concerns with the FCA and its nomad and advisers?
He's raised over £2.6m in the last 10 months and the company is still in financial difficulties.
This listed at 1p and since then the company has been in decline.
I doubt he will ever to be in a position to say any of the statement below again, such a poor performance why shareholders even put up with it is beyond me. As none of anything he's promised has come to fruition.
RNS 8th October 2021
Robbie McCrae, CEO of Caracal, said, "Our focus at Caracal is on rapidly delivering on our strategy of becoming a +50,000oz p.a. producer and building a JORC compliant resource base of +3Moz within the next 12-18 months. Whilst we will continue to increase production at our Kilimapesa Gold Mining and Processing Operations, in parallel with this we will be focused on our aggressive acquisition strategy and on our exploration activities on our mining and prospecting licenses at Kilimapesa where the potential to increase our resource base is significant.
50/50 RM pulls it off
Decent odds I thought
Not even relisting - coming out of suspension
Relisting - not resisting
Hi Legalwolf - historically you were one of the posters who would back up logical points with facts - I was a little surprised not by the question which I think is valid but the surrounding inference about things being true of false.
I don't think there has been reference to Philoro since May 2023 and so I think that we can assume that they are not part of the equation anymore, otherwise I would expected ongoing references - could be wrong. Others seem to have stepped into the breach though as evidenced by the various RNS announcements.
I find myself increasingly try to correct people here with facts or put things into context - as such I am now seen as a rose tinted glasses supporter of Robbie. Wrong - I am sure that Robbie will be the first to say that he would have done things differently in the past. But I also have a great deal of admiration for Robbie for keeping the ship afloat under horrendous cash flow constraints and in the face of a wave of suspicion from other potential investors because of OCIM walking. The natural tendency is to think there must be something wrong if OCIM walked - not necessarily true. There must be something wrong with the accounts to make the audit take so long etc. Personally I think the auditors have a case to answer if the file wasn't worked upon for a period of time. Robbie has been able to attract more money over recent months but the big money required for the expansion plan is tied up in the prospectus and ergo the audit.
I tend to agree that upon resisting it will be choppy here to say the least irrespective of what any plan or finance solution is communicated. So be it. Each to their own.