Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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.
Well I have been saying for some time that there was an alleged problem at the top .
Now maybe we can move on but the dilution may be painful
Https://www.goldstoneresources.com/shareholder-analysis/
A changing scenario.
Nearly 60% of GRL is owed by AIMS, Apex and BCM. Their approach/stance, and their desire to protect/enhance their investments - will be crucial. As will the role of the highly experienced Chairperson - Harvard graduate, Ms List.
Hopefully finance terms can be agreed. Expecting mass dilution to shareholders but a bit of something is better than nothing.
Goldstone should be flying in current climate but unfortunately the reality is that the company has been unable to extract the gold in any real commercial quantities. It's now whether they can put in place a mining plan which lead to free cash flow as well as servicing debt.
It's highly significant that this facility is provided by the company's biggest shareholder. Bill Trew also has a hefty investment and, presumably, Angela List (also invested - indirectly, at least) is now calling the shots.
..."a fundraise and agreeing an extension to the Gold Loan and expects to be able to provide a further update during the next two weeks".
So, that would be about September time then...
Bye bye Bill - who's still a major investor! Images show mining activity - and it continues too, on the financial front....
š«¢
Over the past five weeks there has been some activity at the mine site. Check out these two sets of images.
20 feb
https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=6.32846&lng=-1.62512&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2024-02-20T00%3A00%3A00.000Z&toTime=2024-02-20T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22
Yesterday
https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=6.32846&lng=-1.62512&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2024-03-31T00%3A00%3A00.000Z&toTime=2024-03-31T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22
As if this bunch of muppets couldnāt embarrass themselves anymoreā¦.they really are a joke.
If a raise ever gets done it will be at a crippling price as their back are against the wall. My money (literally) is on a delisting and they take it private for the investors to take all the spoils at our expense
When will this ever re list or we hear something?
In English perhaps - next time?
š¤Ø
It's a theme with Goldstone - estimate a precise timeline (why? Why not say 'in the next few weeks') and then not deliver on those timelines - in which case if their nomad was worth anythi g they would force a follow up rns '...still ongoing/delayed'. But they don't because they don't give a s*** either as long as their fee gets paid. I don't believe any of yhe timelines given in any rns the company issues, it's the best way not to be disappointed. Gla
āThe Board believes it is making positive progress in this regard and expects to be able to provide a further update during the course of the next 10 days.ā
The Board being over optimistic again!
Nothing today so far
The 10 working days expire tomorrow - RSN?!
Wasn't aware of most of that, thank you.
The Gold Loan is from AIMSL (a principal shareholder) - and Paracale (the other) is 30% owned by Bill Trew. So a lot to discuss by people who know each other well....
Angela List (GRL board) owns Nguvu - and Vidacos if a Citibank subsidiary....
(ćļ¼¾ā½ļ¼¾)
Https://www.goldstoneresources.com/shareholder-analysis/
Fiske are Ocean Finance/Milton
Pershing - Bank of New York/Mellon
Interactive - abrdn (Standard Life)
(ļæ£ć¼ļæ£)
A reminder
https://www.goldstoneresources.com/company-profile/
š
I had this reply .. it came from āSt. Bridesā . I think everyone involved in this company gets weeks confused with months ā¦ this reply was 3/1/2024 :
Thank you for your email and I appreciate the points that you have raised. I will ensure these are viewed by the board so that they are aware of your concerns.
To address the points raised in your email, firstly, and for the avoidance of doubt, Emma Priestley remains the CEO of the Company and continues to be completely focused on the operational success of Akrokeri-Homase. Following the signing of the Standstill Agreement, Emma will now be returning to site to progress operations and to transition to the new operational management team, as referred to in the RNS.
Further updates on the operational performance of the Company will be made in due course, in addition to the CEO / Chair narratives in the final and interim results, which are expected in the coming weeks.
More fundamentally, now that this Standstill Agreement has been issued and with the audit process moving towards conclusion, the Company, with the benefit of a new operational management team, are in a much better position to provide regular operational updates. The Board is aware of the need for these progress reports, which provide a more comprehensive view of operations over and above the regulatory updates, and it is eager to implement these as appropriate throughout 2024.
Best regards,
Some people (not me, obviously) have suggested theyāve found plenty of gold, and some people (not me, obviously) have suggested that said gold hasnāt made it to the balance sheet.
When the bod finds more money. Hopefully they'll have more success with that than they've had in finding gold...
When will this unsuspend ???
Why would anyone expect Emma to keep to a time deadline ? The silence is deafening . If they have the plant , if they are on site , if there was 5,000 ounces trapped in the leach pads .. then where is the gold ?