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Jdt
Good post. You could probably have quoted any number of missed deadlines and promises which never have materialised too!
Kenny
My thoughts as well. And I can think of a number of reasons why they wouldn’t want to tell us about how much gold is being produced. None of them are good!
As for Angela List (and all the directors come to that) their connections are supposedly so strong that they can’t find modest funding for what are supposedly mines with absolutely huge potentially? Yet another thing that doesn’t ring true.
And for those who think smaller shareholders don’t matter when it comes to being treated properly, as a general principal, one day such companies might need those shareholders for additional funding, so why would you alienate them?
I have my own theories, but probably not legal to post them here!
From the Jan RNS:
"Further to the execution of the Standstill Agreement, the Board is pursuing various avenues to seek to raise additional funding to provide working capital for the group's operational development and to settle various balances due to the Company's outstanding creditors in order to facilitate publication of the 2022 Accounts and Interim Results on a going concern basis. The Board is seeking to complete such arrangements by the end of February 2024 and will provide further updates as appropriate in due course."
Hopefully the NOMAD forces an update if we see nothing tomorrow (which I highly doubt we will)
Just another painful wait to see what, if anything, these muppets can muster up
I see people making comments that Bill Trew is a hardened and successful miner .. that Emma has had 1 hand tied behind her back .. please give me any example of either of those guys in charge of a successful and profitable business.. I see s lot of companies they are involved in that have insolvent balance sheets. At least Trew is gone but do we really believe Emma is up to the job? What is she doing? Where is the gold she said was sitting in the leach pads - all $10m+ dollars worth . Why are the accounts still not signed off even after changing accountants. Why does she think it is not appropriate to not report on any production that is ongoing … she has spent money on plant .. where is the production / cash ? Why were we not insured for the so called theft of gold ? Why were they guiding tens of thousands of ounces of gold production to be in the hundreds ? People still have faith ? It’s all we can have to be honest and we hang on by the fingertips but anyone believing in Bill Trew and Emma are frankly deluded imho. If List can turn it around then fine .. first thing she needs to do is get that $10m worth of gold out of the leach pads .. or was that a pure lie ?
It’s not theirs. They are the custodians of the company which holds shareholder’s money. In this case an AIM company, and that comes with enhanced obligations to shareholders.
Hi Corrumpo
I understand believe me however, when you invest in a Company it's not really your money anymore it's theirs.
You have shares which being a miniscule amount means nothing unfortunately. I have had comms in the past but nothing for months so I am in the same boat as you
Deramp something that’s on the floor already and, as you say, suspended. Hardly. Just venting frustrations at the utter contempt we’re being treated with really.
Edzi
I do get where you’re coming from, and it looks like you’ve had the same kind of bulls**t holding messages back from the company that we all have, and are staying somewhat optimistic on the strength of those. I get that.
However, this is (until delisting) an AIM company which has responsibilities to shareholders. Nothing has ever rung true about their statements, so I think it’s quite reasonable, when no one has been able to get access their money for many months, to ask what the hell is going on, and where the main players are hiding out. Oh, and also what gold is being produced and where it is! Not every communication has to be in a formal RNS. It’s time more of us demanded information from the board. This is not (yet) a private company!
Corrumpo
Don’t waste your time trying to de ramp this share. It’s suspended.
Corrumpo
What do you actually want them to say, they are looking for either a buyer or a J/V
Until such times as they find someone and it's concrete what are they supposed to do.
Release an RNS saying, it's been a tough day today made some calls but nothing has happened
We all have to wait and hope, I have far too many of these and I want to know as well but things take time
There comes a time when “News is coming soon” just doesn’t wash any more. We’re way past that time. Anyone heard or seen anything of Angela List commenting on Goldstone? Only things you read about Angela List on the internet are generally either allegations of historic wrongdoing, or courts actually banning her from being a director of a company! Where’s CEO Emma Priestley? Where is Goldstone’s PR company, which actually does zero PR? What total and utter contempt everyone outside their inner circle is treated with!
Obviously uncertain - in the absence of meaningful information. But Bill Trew is a hardened and experienced miner, with many connections - including MAED and Oxus.
List is associated with Goldstone for c7 years, and also has a successful track record behind her; with a degree from Harvard.
My optimism is based on the past achievements of these two (whilst keeping my fingers tightly crossed) and the AIMS, Apex and BCM investments which remain in situ.
However I've no wish or intention of trying to convince anyone of anything....
🙂🤨
Whywaste time
I'd love to know why you think that, it has been alleged that Bill was the problem from the start, he owns Paracale so they go hand in hand and List is there as a board member who was the only one that both parties sort of trust to get Bill off being Chairman. It's a complete Donkey show
With Trew, List and Paracale involved - I remain confident that this will end well.
AIMS Asset Management and Apex Mining are also astute investors - watching closely.
( ´;゚;∀;゚;)
What amount of dilution would we be talking 100%, 1000% or 10000%?
AIM is currently on it's a*se, especially the junior resource sector (despite gold being at $2k/oz)
GRL have their backs against the wall to even be classed as a going concern and be able to continue operating on this market.
Angela List has assumed a position of responsibility, she has a vested interest but there is no doubt anybody that is willing to put funds into this shambles of a business and operation are going to want it as cheap as possible...and why wouldn't they, risk reward when in a position of power.
I'd be prepared for an eyewatering discount on a placing (if one gets done) but as you say, if it keeps us in the fight to see what the Co can do without Bill...better than nothing.
Only saving grace is that if they can finally get some gold extracted, assuming costs in Ghana have come down (inflation has fallen from 40% to 23% there) there might be some ok margins in it to build from the bottom up
Ask yourselves, have you ever been in a position where you can see incompetence, but cannot do anything about it?
We've had life line, lets hope they can get it back on track...
we might end up with a stupid amount of dilution, but better than being wiped out which is what we are still looking at...
Hi Kenny
I have just read your post and would like to ask you a question, Bill has been removed from being the Chairman and Emma is still there.What does that tell you? I am not a particular fan of Emma but she knows what she is doing and anyone who runs a Company can't do it one one hand tied behind her back. DYOR
Does anyone remember the RNS which states 5k ounces of gold was stuck in the leach pads ? Where is this gold is what we should be asking . Enough in that alone to pay off the gold loan . If Bill is the problem then what was the problem ? Emma is the operational director .. this is all her doing in my opinion and she is still there .. apparently “on site” according to an email reply I got. The main issue is raising some finance by the end of this month in order to prove going concern and pay off some debt. Out only hope is that the new removal of Bill will mean we get an invested party taking a proper look at whether or not this is a viable mine. The lack or production of gold has been nothing but 100% incompetence .
Thanks Edzi, yes that's good enough for me and the information is pretty sound with regards to current position at GRL and hoping any potential dilution for existing shareholders won't decimate us..................If only they would update us on mining progress and give us some idea of the current gold totals, as that's the big issue - are they still struggling with decent gold pours and if so then we might as well write this off.
At the end of the day, were all stuck here. I wrote this off and it's still dead to me... I WANT to be wrong, but got to wait and see.
Edzi, didn't have to say anything and it could be false information or it could be useful and true... Either way were still stuck lol.
Thank you for providing the info anyways...
Hi Surfer
All I can say is my information is accurate. If you had information and posted it on a board, it would be up to me to either believe it or not and I would not ask where it came from as I know that it can't be stated.
I hope you understand this. There have been lots of things going on and I am invested here much more than I would like to be. I hope things come together correctly but private shareholders will just have to wait and see if things turn out good and hope that our investment is protected and longer term we do all right.
Hi Cbax
I really can't say who and what and I'm sure that you understand, just ask yourself why Bill is no longer the Chairman.
Great info @Edzi, but yes who is your source for this info and an upcoming dilution doesn't surprise me with the usual LTH's carrying the 'poop bags' for the companies poor performance and shocking management!
“ From what I have been told “ who by Edzi ????
From what I have been told Bill has allegedly been the problem all the way down the line which is why he is no longer the Chairman. Angela goes where the money is. Although Emma has been a nightmare she has tried her best and there is now a way forward, however existing holders will be diluted if they can find a suitable match.