Member Info for AndyBhoy

He's not being ambushed though is he? It seems like fair warning to me, and he should be keen to address the concerns of shareholders anyway. As far as I'm concerned things take time, and it's not always a smooth path to success, but I really would like to know the reasoning behind 1000:1 consolidation.. it's seems a massive number to me.

I don't agree with voting no to all resolutions except for the name change, I see no point in voting out current board members and Art.. 100% no against consolidation though.

Unusually, for my II account it hasn't appeared automatically in my voting mailbox, I've sent a request to have this rectified. Like everyone else has said, this all just seems a bit ropey this AGM and resolutions. No official notification of the resolutions provided via LSE RNA medium, all through SEDAR,, and the fact the voting form has not automatically appeared in mine, and others, trading accounts.. all just seems a bit strange

Eazy, it's not about playing everything down, not at all.

But the message they have sent to us with this consolidation resolution is exactly that. Where the share price is at this moment is shocking in my opinion. If everything is all rosy and turns out as I hope it does then excellent.. I will be doing cartwheels! however after being let down numerous times so far you can appreciate that it would be folly to not atleast question what is actually going on. It's in no way cynical it's just a reflection of the mood which events have caused.

They probably already have the votes needed to push through the 1000:1 consolidation (sorry, upto 1000:1) but that doesn't mean you shouldn't vote no if you don't agree with it.

That's my fear Finnwittrader yes.. just look at the RNS announcements since the last consolidation.. information is all there.. how many shares were in place following that.. and how many there are now (and potenitally could be).

Without further information on the consolidation, then I don't see how we can assume anything other than more dilutive fundraising down the line. We only have recent history to go on.

Just to add.. My concerns were much lower prior to the AGM resolutions being revealed.

It had been intimated that RBL.. on the way.. JV negotiations ongoing... Production increases on the way. And then BAM this upto 1000:1 consolidation resolution.. we really need further information on this and not grandiose falling off my chair hyperbole.. or we don't have an RBL because people were on holiday etc etc.

I mentioned my concerns on this consolidation before, the timing of it is poor. LTH's such as myself have every right to fear further dilution leading from any consolidation being actioned. Regardless of whether it's 1000:1, 100:1 or 10:1 following the previous consolidation it was followed by placings, reducing the value of my holdings. I would much rather some milestones were hit before any talk of consolidation was mentioned.

The fact this resolution has reared it's head does concern me greatly. We have been told RBL wasn't too far off, JV in discussion.. both of these, as well as an increased production output, should increase the market cap.. which makes me question.. why is consolidation even needed? The reasons mentioned so far have not alleviated this concern.

Whether the motivation for requesting up to 1000:1 consolidation is altruistic or not, it's not something I am keen to welcome at this time. The share price has been decimated, I am heavily underwater on my investment.. which btw first began years ago around the time Arthur put up his own cash as a loan to keep the company afloat. At the moment It is that action alone from Arthur which leads me to believe he's a decent man and is trying to do the right things here.

However, to request that kind of share consolidation at this point, where production forecasts have yet to be met and long term holders such as myself have already been through the mill, just isn't the type of thing you want to be seeing just now. The current state of play, to my mind suggests that a lot of cash could being asked for in the future and by way of diluting my holding even further. This is a far cry from RBLs and JVs and to be honest quite alarming.

I'm hoping they can soon get to a stage where they can announce production figures have increased to the point where the company is making money and the share price is going the correct way.. but the timing of this resolution for up to 1000:1 share consolidation is very poor to me at this time.

Picked up some more.. but in shock for how many I picked up for how little given my previous purchases... God Speed COPL get that production motoring now please!

The most important thing about this morning's RNS is the removal of the going concern fear, that is clearly a massive plus and should really start to be reflected in the share price, which was decimated due to it rearing it's head.

Obviously most of us were all hoping for a better RNS, either JV or RBL.. as we were intimated a timeline, certainly for the RBL, of it being achieved by now. We now have the time and funds to press on with production which should hopefully deliver us to these goals, but frustrations at this point can totally be understood.

fair enough OurJambo, I didn't appreciate that fact. but would keeping it have avoided breaking the $2.5 million lending covenant?

agreed, I don't understand the early repayment of some debt at that time. It gave a false impression of a stronger financial position in my opinion, question is was that it's intention? or was the belief that production was on the right track at the time. either way a decision made too soon, and that's shouldn't even have needed the benefit of hindsight

The statement below from Art123 is the one I disagree with

A placing would be good news here and is the only thing that might just steady the ship. Maybe £4/£5 Million at 5p. After all there are hardly any shares in issue since the consolidation and £5M at 5p is only another 100 million shares so still only just over 400 million shares in issue.

disagree

In short, nope no idea how much 10% of Ghaghoo could be worth, but I would be surprised if it only takes $4 million to get the mine profitably operational again.. and I base that purely on the fact that GEM walked away after all the investment already ploughed into the mine. If they thought $4 million was a lot after spending $85 million I would also be surprised

bigbench - 100% spot on, and that's what I was alluding to... Arthur can't tell you anything new until there has been an RNS.

I do not understand why people want an interview without new information being released through the proper channels.

I am absolutely serious Panamabob.. on the back of every other Interview recently has there been improvement to the share price? Unfortunately no.. only objectives being achieved will improve the share price at stage.

We have had multiple positive interviews recently with no increase to market cap.. I did not say I was happy at the 50% drop, far far from it.. but the general feeling on the board is this drop seems to have been orchestrated by powers outwith the company.. you really think if the CEO agreed with that sentiment he could safely come out and say anything about it? Other than that, we all know what the pressing concerns are, Funding, JV and Cole Creek re-completions.. there is nothing else for him to currently say to us other than what he already has.

Tell me unless our flowing well performance has increased markedly, and not the wells are still cleaning up or otherwise restricted.. what information available for the public domain do you expect to hear in an interview that would make you feel better?

I do like hearing from Arthur during his interviews explaining the current finds and plans going forward, however we are now at a juncture where there is nothing left to really say until drilling results or funding /JV is agreed or otherwise