Chaarat Gold Share Price (CGH)

Presumably nobody is selling because they see what a sparkling investment opportunity this is. :-)

OK, so we have moved on from the 'default' statement so that is one step. I have no idea who is behind the notes but I can tell you that our Chairman (and our CEO) has extremely rich contacts. A more pertinent question would be do I want an association with those contacts?

Whether you think they would be able to raise the money is, once again, moot as the fact is that they have whether at arms length or otherwise (Ciftay for example). I refer you to the previous paragraph as an indication as to where this has likely come from. In the areas where these people operate I suspect that a great deal of the financing is based on who you know. Whilst I do not know, I suspect that your experience does not extend to the FSU.

The amount raised over the course of the company's history is, of course, relevant but you do have to consider the periods PM and PD (pre-Martin and post-Dekel). The earlier period is ancient history and the amount of money spent on defining the resource ultimately came in quite high as they could never actually do anything with it subsequent to the definition despite raising funds that were supposedly allocated to building a production facility. I think that the money spent since has not been wasted (I completely disagree about Kapan by the way but you would expect that of course).

Casual47, who is Shakalak you keep referring to? ))

On a more serious note, Çiftay... We are reading same things but obviously seeing different things. "Contract mining", "bulk material handling", "operating capability", "ability to opeprate small equipment" , "minimise strip ratios", "appreciation for the importance of ore control in gold mining operations, which distinguishes them from many other contract earthmovers"

Where is CONSTRUCTION here?

If mining was just about, well, mining, then they'd be perfect for the job! They know how to build a man camp, how to buy trucks and shovels and how to OPERATE these in a mine on a steep terrain. Great! Well, let's just then go and start mining, shall we?

What about PROCESSING? Are they going to build the processing plant too, or are we planning to sell leach solution?

Quick glance to their website. "road construction", "locker washer buildings", "transformer building", "packaging building". Where is INDUSTRIAL FACTORIES? Processing plants? Electrowinning workshops? Concentrators?

Maybe I didn't spent enough time researching them. I admit, I didn't. Just 5 minutes looking through their rubbish website. But from what I saw I was not impressed. I saw nothing to suggest they can build a processing complex. Mining? Yes, they can handle that part.

Good to see Mercedes Benz is their preferred supplier. At least they can get Martin a nice Maybach at a discount )))

One question I would like people's help with, though, is this - where is liquidity?
I've done a lot of research on this company, but one thing I haven't done is to trace where the free float has gone, and I can't be bothered going through 12 years worth of RNSs )) And Bloomberg has nothing on this either.
I mean, 37% is now in the hands of the current management. 11% is with Martin's friends and previous management. NFC has 5.4%, Polymetal 3.5%, UBS Wealth Management 3.1%. That's 60%. Where is the remaining 40%? Why is this not trading? I just don't get this. 167 MILLION shares gone missing somewhere in dead long-written-off accounts? Would someone explain to me where they're gone and why nobody's trading any?

Thanks for the reply Shakhtar and for posting your views.