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What is it?
They mentioned two figures, 40k and 60k tonnes per month.
Which is it? Or both?
At a generous figure of 1.5g/t
40k is 60kg or 1286 Troy ounces or 15,432 Troy ounces per year
60k is 90kg
100k is 150kg or 4823 Troy ounces or 57,876 Troy ounces per year
Smells funny
Revenue before costs with gold at $2k
15,432 is $30,864,000
57,876 is $115,752,000
Which is it?
I too think you are right & so gone for 18k as I too was interested when the excitement with this gold stock raised it to 14.5p. Having been a follower of Goldstone for years. It was a shame they had the theft of ingots, but that will not matter an ounce, when they start producing highly. It might be well sooner than we reckon, that's considering how much gold is in their mining areas.
Mr jdt,
please also remember the RNS dated 13-May-2021 : where the CEO stating planned production 50koz, including 25,000 ounces in calendar year 2021.
GRL now at 250 oz last quarter.
There is little much else to add - as some would consider the confidence in what the company says in RNS is rather on the low side. Some may say don't blame management - they are doing their best ! That may be true - so I wonder if there are others that can do better or help - as last two years RNS appears they may need such help?
Not kidding m8 - but don't deny the speculative nature. Developing a new mine, in a hostile environment, is no easy task.
Politics, labour and climate issues are all problematical - but Trew has done it all before. Very content to have bought today a just over 2p!
You have got to be kidding. Trew quite clearly hasn't got a clue what he is doing, along with the rest of them.
20koz guidance for 2022 ended up being less than 6k, there is 5koz still in the heap leaches that they can't get out and with almost half of 2023 gone, they have poured 250oz. Does that sound like the operation of someone who knows what they are doing?
DMAX should commission these lot for a specials episode of "African gold hunters" where we can watch the calamity unfold
I have! You'll never get this share cheaper. Trew knows what he's doing!
Let’s hope this is the bottom of a bad run . Something good has got to happen one day
Awful RNS.
Bought some tractors. Revised how much digging to do. Messed up the leaving process with too little cement and basically have to start again.
All whilst gold has been sat close to $2000/oz. What a missed opportunity.
Still no production guidance. Rainy season delays being quoted. Costs being noted as high still.
Nothing positive in there, what a shambles!
In summary. Busy spending last placement money. Not making any.
In less than a fortnight we can celebrate the anniversary of our latest 'suspension of trading' from AIM. Surely we must be due another one soon? At the very least it will temporarily stop the drip drip descent of the share price and I am quite sure the BOD will be able to justify another suspension one way or another. It's probably a lot easier than actually producing gold from clay. Perhaps they could let us know how many tons of gold we sill have 'in the ground'. That would be nice. Very disappointed with this crew so far...
Sliding again, I'm assuming due to the lack of news and slide in gold price recently.
From and including: Friday, 30 December 2022
To and including: Tuesday, 23 May 2023
Result: 145 days
It is 145 days from the start date to the end date, end date included.
Or 4 months, 24 days including the end date.
One of my (many) frustrations is this (RNS 30th December):
"· 2022 production target of 7,000 ounces of gold (RNS: 30 September 2022) not yet achieved, but the shortfall ounces remain within the heap at various stages of recovery."
That was like 140 days ago. How long does it take to heap leach? Should we know what happened to the 2000 ounces (worth ~$4m USD) by now? These are 2022 operational numbers we don't know - and we're nearly halfway through 2023?
Either the news is that bad, that it is worse to RNS than not to RNS, or in effect this is being run like a private company amongst the 3-4 big ii's and sod the other investors. I'm really hoping it's the latter.
Patience? Emma has tested every sinew of patience I have ever had in my body.
Yes the BOD are invested here which is about the only thing that keep any hope for me. BUT they contempt for shareholders, lies, excuses have worn very very thin. They have one last chance to get this right otherwise it's curtains!
Next operational update I am waiting for Emma to say "It's been a bit cold in Ghana lately so the gold has gone into hibernation and won't come out"
Mining ain't like going into the office. It's difficult, climate dependent, affected by local politics and dirty.
We knew that when we invested and Trew has put his money where his mouth is. Time for patience!
...Bags of anticipation I have. Bags of lolly or bags of gold I have not...... yet
Price currently driven by sentiment, gold price direction and trading opportunity as there is no info forthcoming as yet. But there is anticipation.
Absolutely not.
Am I right in thinking that the share price here is actually an indication of the chance we have of sustainably producing gold?
This can rise over 100% in a day LBE with the right announcement
Spot on!
I have been invested in GRL since 2015. I have lost count on the number of times the Directors of this perpetual teasefest of a stock have let down shareholders. They are frequently late with announcements. You get the distinct impression this is because they are continually failing to achieve what they set-out to do and crafting an update in the face of looking like imbeciles (again), takes time. Poor calculations and assumptions on yields, plant construction delays, poor or inadequate site security, weak operational expertise, contradictory statements from Emma in media, lack of focus on their positioning as a business etc etc.
The small investors are at the bottom of the food chain so don't expect any real support from the board. We represent a small percentage and I feel that as long as Emma is at the helm, it will be a rudderless ship with only a single oar to make progress with. Like many people, I was expectant of a rush on this once gold was confirmed out of the ground. Unfortunately, I think there's not much hope of any progress to being an efficient and well run gold producing business.
3 months since they raised the BlueGold cash and still not a peep from Emma or the company. Unsurprising but it really is a p*ss take the way GRL treat shareholders with such contempt.
This next operational update better be good….and let’s hope we don’t have to wait until 2024 for it!
Delays rarely do you favours - if we'd pulled the gold out of the ground last year we might not have had a 20% dilution at the 3-4p area. But agree with the sentiment - would be good to be pulling it out at these prices. Now where's that operational update...... be Q3 soon.
Good time to pull some gold out of the ground, the delays may have done us a big favour.