Q&A Question20 Dec 2024 12:29
The conis are an interesting sideshow, but a sideshow. The critical question is 'when will new money be needed'. Any raise conducted similarly to those over the last two years would be devastating to all those currently involved. The intent in the recent video about producing gold to create cash flow is exactly as it needs to be but in my view, current communication is materially insufficient. So earlier to today I asked the following question on the company Q&A:
With ore now being processed, is there expectation that the rate of processing and % recoveries will be communicated to shareholders. As these are clearly material and known by the Company, I don’t see much ‘wiggle room’ in terms of disclosure obligations (below) which is cause for concern.
An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities. By way of example, this may include matters concerning a change in:
Its financial condition.
Its sphere of activity.
The performance of its business.
Its expectation of its performance.
Information that would be likely to lead to a significant movement in the price of an AIM company’s securities includes, but is not limited to, information which is of a kind which a reasonable investor would be likely to use as part of the basis of his or her investment decisions
I hope I get a reasonable reply which is niether trite nor patronising and will share if received. For the avoidance of doubt, I am a long term holder who has consistently 'averaged down', am extremely keen to see the company succeed and believe it can. I do, however, have real concern about the lack of factual communication, the extent of the current cash runway and the ability of the company to raise capital intelligently given the current share price.
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