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Surmising is futile m8
Normal caveats - personal opinion, DYOR, no expert etc....
Surf73 - you have my sympathies, also LTH by nature. Likewise invested in this company in late 2020's for many of the reasons you stated, following a share tip (no blame attached) as the opportunity sounded promising.
I sold out yesterday at a huge loss for principally the following reasons;
1. Management control seems "iffy". To have one suspension of shares re: theft would suggest reasonable, but to have two re: audit, what can I say.
2. Could be wrong, but I believed that production at the Homebase mine would contribute to development costs at the other deeper mine. I do now wonder how this expansion will be financed?
In summary, have lost a lot of money recently on Aim (yep diversified but still+ £100K loss) in general since 2020. My personal advice would be, yep follow share tips and take BB advice on board, but just maybe be cynical and ask yourself the question, do you really want to invest in this company before hitting that "buy" button.
Hope this helps and BW.
They really like making it hard for themselves, don't they?
Someone at the top needs to make some serious changes.
Oh dear, am I regretting my GRL investment which I started back in the end of 2020............is it me or do LTH's think this could be close to the end for GRL as something very odd is going on as others have indicated and I invested here not just because of the mine prospects but also because of the so called experienced management team and their buy-in at GRL. But what we've really seen is very amateur management of the business now a failed audit 2022 Annual Report and Accounts which let's be honest, anyone with a ounce of business sense would of noted this upcoming issue and now it's going to be suspended for what could be a while.
I'm not ready to kiss goodbye to some heavy losses but I'm starting to getting a very negative feeling about GRL's long term prospects and I think shareholders are at the very bottom of GRL's management team's interest.......hoping this dog turns-around when they've woken-up their new auditors but I'm preparing for another AIM flop and financial hit!
What - exactly - was 'suspicious'?
Commoditytrader - The RNS suggests they will be published in July maybe August
"Accordingly, the Company is targeting the publication of the 2022 Annual Report and Accounts as soon as Moore Stephens completes its audit procedures, which is expected to occur during July 2023."
(Caveat I never believe a word GRL say anymore)
GoldyBlocks - I agree, something not quite right here......been very suspicious ever since the "Theft"
It wouldn’t be completely unreasonable to expect things like cash and creditor positions to be published during six months though would it
Publish unaudited figures! Totally useless.
Mining accounts are notoriously difficult.
Assets are subterranean and invisible.
Often aspirational, intangible and uncertain...
🫢
Questions for AIM/ Nomad:
1) Surely it should have been announced when the auditor resigned, including the presumably inevitable consequence that the accounts wouldn’t be ready on time.
2) how long to find a new auditor and complete an audit, publish the accounts? Can’t imagine that will be quick? Possible within six months even? After which listing is cancelled altogether? Suspended in the interim of course.
3) Why not published unaudited figures as you would for interims so the market can at least see them without waiting for a full annual report?
i'd say £2k of sells is not really worthy of comment. it was obvious somebody would sell before suspension as it's a pretty poor rns but thankfully it's a £2k seller not a £200k seller with a big holder exiting due to any worry about what the auditory might have found. not that you could sell £200k if you tried.
the sp is on its **** because the company made 250oz in a quarter and now we don't get to see accounts - it is what it is. have to hold, wait for auditor, wait for the accounts, then wait for the next quarters op update where hopefully number is > 250oz.
At the time of writing this - the SP is down 8% today.
From the amount of comments on this discussion board - I assume such a drop nowadays is not worth of a discussion.
I still refer to my last posting on GRL - especially the last paragraph - as i do believe this company really needs some help.
Haha you could be just about spot on there….
Or maybe they resigned because Emma wanted them to audit the accounts but she told them the numbers would be with them “shortly” then decided she couldn’t be ars ed to send any numbers,….just like she doesn’t want to give shareholders any information.
Don't bother m8.
Accountants frequently refuse to sigh-off on accounts for mining companies.
The assets are invisible and/or underground.
.. ah yes, I predicted this might happen on the 30th of May, another AIM suspension. Aren't I good? I just wish I was as good at predicting where the share price would be 6 months from now....
Shall I try?
Just adding to the list of delays. I find it unbelievable the company only found out about this a month prior to accounts being due.
Administrative/accounting issue.
Excellent opportunity - which I'll be taking
When the price is right....
Unfortunately - accounting for mines is a nightmare
(-_-)/~~~
Lack of information on current situation makes this impossible to read - but, for my part, I remain confident of Bill Trew.
Bill - and his family - have put their money where their mouths are! And I'm hopeful (and positive) of seeing a favourable RNS, in the short term.
⊂(^(工)^)⊃
It was around this time 3 years ago that we got that lovely increase from a similar price .to today s .after all the positive interviews with Emma around that time . I wouldn’t have thought we would be back here . . I am well invested here so could do with a real good bounce back . Deflated is how I feel . With the current economy I just can’t see it happening . Greedy when I was in front is a lesson learnt
I am well hopeful that within 6 months GRL shall be updating the market with pleasing news. So as it's June now, it should be in 2023 the share takes off again. 'Jeeper's creeper's ' I thought as it rose 6.5% today too.
No I didn't know - I just bought a few grands worth, no problem. But it's a speculative high risk share, and not for the faint hearted!
There's no BlackRock or Vanguard in the background and the PR is bad. But mining in obscure locations is fraught with difficulties. GL
GB, sell your shares then m8. I've bought more - in anticipation of the expected Midas pontification in the Sunday paper.
Nobody said anyone was taken by surprise. Trew has been here before - and has put his family's money where his mouth is!
No golden nuggets in that RNS with yet more promises of jam tomorrow. Another AIM shower.
60k is the amount of ore to be mined pcm....40k is the amount to be stacked pcm
Hey City watcher . If it to be sooner than later …. How long does that mean by GRL standards ?