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I'm not sure I'm following the implications - my read is similar to the other poster's who said they're preparing us for a total loss. Is there reason for hope here?
And the other principal investor is Paracale Gold - where Bill Trew is also the main man. Some posters don't appear to realise the ownership intricacies 🙂
It's very relevant that this entity is GRL's main shareholder....
(;´_ゝ`)
Be careful way you wish for Cbax….Emma answered with what I fear is the final nail in the coffin and my GRL investment up in smoke.
That gold pour is pitiful given they have spent the recent placing money on “improvements” 😂.
Looks like AIMS have had enough….and rightly so. I’m sure they could just take control and get someone competent in to do it.
They’ve blown the money, jack all left and can’t produce any meaningful gold to clear the loan.
They’d be best off just applying to be on gold rush and get paid to put this farce of an operation on tv for us all to laugh at.
They won’t find any good funding options in this climate. AIM is on its a*se.
So congratulation Emma and Co on the calamity and what really annoys me most is that they never once just stick their head out and admit they couldn’t do it. She hides behind radio silence with no accountability.
Well they have galloped down the road. Not the knight in shining armour to rescue us but to thrust the lance through our hearts.
They a preparing us for a total loss.
Just a holding communication - but gold is being poured!
(;_;)/~~~
Hi Emma . Any news please ?
No further meaningful comms in respect to reinstatement of shares since the 19th September.
Shares were supposed to be temporarily suspended from the 3rd July. We are well past three months and I don't classify that as temporary. BoD have shown total contempt for their PIs. I wonder if it's the same for their IIs and major shareholders.
General communications have been extremely poor and hope the next RNS is meaningful as otherwise it's not a share for me. Should have exited last year but there is a glimmer of hope they can sort out gold extraction issues.
Fleeced again by con men never again
That this bunch of jokers noted in the last operational update as the timeframe for the accounts. Still nothing….
Then we still need the half year accounts to be published before this can relist.
Absolute farce
It is a very odd situation as no update on the accounts to be relisted again but good to hear they've renegotiated the loan extension which means they haven't given up on shareholders just yet but the very short extension timeline makes no sense unless..............they're about to deliver a motherload of gold (unlikely), or they are looking to get another loan to pay off the existing loan, or they're just buying time and hoping they win the lottery , or that was the best deal they could get and hope to renegotiate again when they fail to deliver and probably will get a penalty or higher interest rate on next loan deadline (most likely outcome). A right old mess and very frustrating but there's still a chance we may not lose everything yet!
I’m
Wondering if the theft at the mine a while back was reportedly. accurately . It could have been slow playing .
Hope I’m wrong and this comes good . Because I have a lot in here
I would think you are right waimea...such a short extension based on the shambles that has been GRL so far, would suggest AIMS are at the end of their tether with these chumps and sick of giving them chance after chance.
"The Company can report that for Q3 2023 to date, some 652 ounces (20.290 kilos) of fine gold has been shipped." Was from the corporate update in Sept. Could they have sorted enough of the issues to get enough gold in the next 2 months to pay it off?
Highly doubt it. I would hope if there is a renegotiation, which would be on less favorable terms I'm sure, GRL pay some of the outstanding amount off with what they manage to produce....
But with Emma and these numpties, anything is possible!
I take the shortness of the extension to suggest some kind of renegotiation. At this point, as long as it doesn’t go to the wall, I guess we should be happy.
Or perhaps Apex - the other significant shareholder - may step in. But we must await the Bill Trew plan....
(((^_^;)
... I don't see any good news here other than the fact that GRL haven't actually closed the doors yet. This time last year GRL still owed 1,924.61oz and had paid off 675.17oz, which suggests to me that nothing has been paid back over the last year as only 675.17oz have been repaid to date. It's laughable to suggest that they have the right to pay back 2,000+oz earlier at their own convenience when they've just obtained a 5 week extension on the loan, or has there been massive production that we've not been informed about? Methinks AIMS is going to become the new owner of GRL at the expense of small shareholders.
Widely predicted - but good news.
AIMS are the major shareholder....
(。・´_`・。)
Goldstone Resources - Gold Loan Update #GRL @GoldstoneRes https://www.voxmarkets.co.uk/rns/announcement/629f31c7-bb3d-4b25-bfd2-997c970d5dc0 #voxmarkets undefined
Like to keep us on the edge of our seats, dont they?
Let's hope we manage to stay on the ride.
That's what I'm thinking - I do believe once before they announced the extension _after_ the deadline. But I would expect to hear by early next week latest.
I'm assuming we will either have an update by the end of this week, or early next week.
Feeling like this is going to end badly, hoping my investment isn't wiped-out but the recent RNS is saying otherwise but in my opinion they seem to be prepping us for the loss............no choice but to hang about now until they're ready to reveal their plan!
Any positivity here ???
If you are all correct . I am about to lose big time . . .
I need some glimmer of hope
I reckon these foookers will take it private and shaft all PIs to reap the rewards themselves. Just like NCCL did (now Solgenics)
The loan is a gold loan of about 2000 oz at 14% interest.
Numbers do not add up.