Member Info for bandit1

Banzai - read my post again as I think you have misunderstood what I said. Thanks.

The fact that Haleon are totally in control here makes the detail within the commercial agreement crucial but we are not privy to that of course. Given the inexperience of our CEO/CFO it is clear that investors are nervous that we have not negotiated a particularly favourable deal hence why we have so many sellers and so few buyers. I hope that is wrong. For some just wait until later in 2024 seems to be a sensible course of action unless the company start to produce granular data which allows the market to put a more favourable value on future cash flows. And so we wait……

Yes it seems that the bottom has come and gone thankfully and the integration of Precise will now generate value going forward. Like so many small caps in the UK markets they are priced to fail but it is a long old back to fair value so patience will be required. More capital needs to find its way into risk assets and small caps in particular before we see a decent return here IMO.

Well the Gerald Ratner moment on 16th September webinar when we were told that despite the terrific launch of Eroxon and the inking on US deal with Haleon, we will only break-even in 2024 and then move into profit in 2025, has literally decimated the share price. The share price was 50p on that day and despite extending the patent life we are 27p on the bid almost 50% down and the chart looks like a downhill ski run. What have the Board done about it publicly? Nothing, as they have gone to ground no doubt realising that they have screwed up and are acting like rabbits in headlights. What I cannot fathom out, as we are not provided with much information, is why the US is apparently so unattractive commercially? Are the assumptions that we will not launch until the end of 2024. If so, why? If not, why did we sign a deal which gives us so little value? One thing is certain and that is if there are no significant management changes here in the short term I will lose patience and head for the exit as it is as clear as night follows day that our CEO and CFO are not the calibre we deserve to monetise Eroxon. I am hoping that we are bought out but even a 100% premium from here would be disappointing so we can be relived that Lombard will have a major say in any corporate action. If you are reading this Mr Barder come out from your shell and tell shareholders what you are doing to deal with this slide and to justify your remuneration otherwise you will not survive at the next AGM.

Gwm121. - I don’t think you understand what we have been talking about. GDXJ is an ETF which is a basket of junior gold mining companies > $150m in size or revenue generating. These funds buy the shares of the constituents including GGP based on specific criteria and every quarter they will either buy or sell shares of the constituents depending on the flow of funds into or out of the ETF which has nothing to do with the gold price although this may influence the flows. There is some correlation between the price of gold and the value of the ETF but let’s not go there, so I think you have picked up the wrong end of the stick but nevertheless, hope this helps.

There are 2 funds , the large US fund which MH01 provides the link for below and the smaller fund which follows European investment law which TT highlights both of which rebalance this month and with more cash going in than withdrawals since last rebalance there could be more purchases of GGP.

It is clear as night follows day or should I say Shaun Day that we are building up a nice head of steam into the end of the year and on the back of a rising gold price and some more positive news today on some of our many tenements. One of our pillars is to continually explore and report findings from our vast portfolio of opportunities and in time this will provide a regular stream of exciting news which will make it more difficult for those who have had a field day manipulating the share price, to do so going forward. After hours today 10m was printed which was more volume than the sum total of transactions printed during the trading day. Of course not all of these were nefarious but it does raise eyebrows all the same as to why these can’t be printed during trading hours for full transparency. News from the updated MRE and hopefully some insight as to how our relationship with Newmont may develop going forward will set up up nicely into a new year which could be truly transformational for GGP.

Just to help folks understand the predicament we are in. Let’s assume that they need to raise £2m as cash is being swallowed up quickly. That would require the BOD to issue 100m shares say at 2.5p, so when you deduct all the professional fees net £2m. Now, with 188m shares currently in issue that would be over 50% dilution and £2m will not last too long with 3 vanity projects around the globe so more will be required which always puts a brake on the share price. Some have said that we should not raise new money at these levels so perhaps they can explain how salaries, air fares other operating costs can be met when there is no money left. Sure there is a £1.5m buffer but that is going very quickly. These vanity projects are all in their infancy and it takes a long time to generate any interest such as JV partners as many will appreciate. So, the smart thing to have done would be to focus all resources and energies on sorting out the JV debacle but our clowns have other ideas involving confetti and pipe dreams. Just pray that the JV starts again pretty quickly otherwise this will be ugly.

Impecunious your comment about Brad, the clown is hilarious. He has shown that he is one of the weakest CEO’s on AIM and has wrecked the share price along with Castro the other clown in mismanaging the JV agreement. His communication skills are beyond poor and he is not equipped to be a CEO. His forays into Brazil, Argentina and Nigeria smacks at desperation when he should be spending 100% of his time and the modest cash resources remaining on sorting out Anza.

For those who are new investors I can fully understand why you may punt a few £ here but for most with a much higher average and who have watched in horror the s**t show which has emerged here we now know how bad management are but sadly we are trapped especially so as we cannot vote them out. I did not invest in these new vanity projects, like many others, I invested with Newmont and Agnico. The clowns have bought virtually no shares with their own cash such that they can easily raise a few million at current levels, dilute heavily then simply issue a shedload of options at 2p or whatever price we have dropped to. I am pretty certain this will happen in early 2024. Makes no difference to them. My worst investment in over 40 years investing but I will just hope that we get something out of Anza as the other vanity projects are a complete waste of money but gives the clowns something to do.

Well allow me to say a few words. This is what happens to a share price when the Board gift themselves nil costs options whilst making an inane statement to the market that the company will only break even in 2024 before making a profit on 2025. I have asked this question before with no takers but will ask again. With a multitude of commercial deals being inked, some recently and more to come, why would you make such a negative statement which will most likely be proved wrong? Utter madness so Barder and Hildreth have gone to ground! Pity there is no AGM soon as they would struggle to retain their position as directors of a public company.

Decent performance but not good news about AL. I am expecting that the Chairman may offload another chunk of shares shortly. Some on here will know that his large disposal circa 12 months ago initiated the drop from 2500p to the current range. I will wait to see if he does before I buy some more.

A nice reminder TT although just a little bit scary that this was 6 years ago! It is a pity that GH decided to dupe shareholders a little time after that by secretly selling when he was announcing further purchases but he will have to live with that. More importantly, this is our most exciting prospect IMO given that there is proven mineralisation and crucially we own 100%. Of course, patience is required as it will take some time to assess the initial wave of drilling but in the interim there is no shortage of news to come between now and Q1/Q2 ’24 which may allow us to break out in a major way. Looking forward I am curious as to what may happen if we did identify a significant ore body in terms of who we may partner with ie. Would it be RIO or perhaps Newmont may want to partner with us as they know this land and they may be keen to re-build bridges after Newcrest blew them up, or perhaps Wyloo will want even greater involvement. All speculation at this stage I know but just highlights what is possible here.

Banzai - perhaps you could outline what they are as there is very little by the way of achievements which I was able to find in a senior role? Being appointed a NED of a start up does not mean a great deal. Bottom line is that I have a significant amount invested here as I can see that the work Ken James did in obtaining the relevant approvals was first class and we have the potential with Eroxon to do very well indeed.

That potential will only be optimised with a team of experienced, astute and professional executives. As a small company we rely principally on Barder and Hildreth for commercial and financial matters. Can you understand why I am so keen that we employ the correct calibre of people to turn this opportunity into a successful one as many companies at our stage of development, fail due to an inability to identify the right people to unlock value? I just hope that Lombard Odier are all over this and exerting pressure as they have the most skin in this game.

I am old school Banzai and not convinced of the reliability, as yet, of generative AI. I recently asked my daughter for her thoughts (who has written a PHD thesis on this subject) and she remains somewhat sceptical so I take the lead from her. Oh well I will keep trying to find out whether Ms Hildreth is properly qualified to do this key job. By the way of anyone is interested, use Google to search Angela Hildreth, Perdu and you can see that she has been a finance manager in the hospitality industry in the past but nothing about her qualifications.

The Chat GPT BOT has scraped the media reports and told us what we already know. Perhaps you should ask it why we won’t turn a profit until 2025 despite signing multiple new deals and positive sales etc? I have asked the company if Ms Hidreth our Finance Director and COO is a qualified Chartered Accountant ( I suspect that she is not as I cannot find anything in my searches to confirm that she is, whereas with most listed plc’s it is quite easy to find references to an FD’s professional qualifications. They have failed to reply to this important question - why is that? The reason this is important is that we should have a CA in that role and crucially that we have made very serious gaffs in formal announcements to the market which should not and would not happen with the right calibre of senior people which IMO explains why we have dropped 40%. Can anyone help me out here that has better sources than I - perhaps you can ask Chat GBT Banzai and kindly share the response. Thanks and ATB.

The UK markets no longer accurately reflect fair value which is why more and more of our better companies are, and will continue to be snapped up by overseas predators especially as sterling is so weak. Once again our politicians have been too slow to react to the capital outflows and to introduce fiscal policy and regulatory enhancements to make UK equities more attractive for investors. Share buybacks are an obvious way to deploy excess capital to enhance EPS, and whilst it is difficult to be critical of this strategy due to undervaluation of equity, I would much prefer to see surplus cash being used for both organic and inorganic growth. Our management appear very competent which is a comfort and let’s hope we see their hard work and talent being rewarded in the fullness of time. I will be adding at these levels.

It is an undisputed fact that money has been leaving UK markets and small caps in particular for some years now and this has severely impacted the profits of market makers. This fact encourages spiv behaviour which we see constantly with smaller caps especially. This, coupled with almost non-existent regulation and the ability of hedge funds, often using Algo’s or private individuals using DMA in auction to manipulate prices day in, day out on days with lower volumes as we have seen for years with GGP. No action is taken by regulators and so it will continue unabated until GGP generate revenue in the near future and can move into other exchanges where the blatant manipulation is somewhat less. For those who refuse to buy into this and believe that markets are efficient and honest, ask yourself why would someone wait all day to sell shares at the end of day auction at the lowest price? Answer - to create a negative perception and to encourage weak sellers to offload so market makers can collect the cheap shares for an order or simply for the next leg up. Annoys the hell out of me too but I can deal with it as my target price is multiples above current levels but some will fall for it. Wouldn’t it be nice if we had a regulator that finally woke up to the most obvious fact that one of the many reasons why UK private investors are avoiding equities is that the cards are stacked too much in favour of those with the deepest pockets and with spurious morals.

I would like to see significantly more land sales in coming months ie. £50m + to reduce our debt burden. The company has more land than we need for the next decade or more and IMO we should have done so before now which is a strategic mistake by the Chairman/CEO as this would have allowed them to maintain the dividend which has hammered the share price. If you look at the major house builders in the UK, they have largely maintained or slightly reduced their dividend payouts but not cut them. More land sales along with new ‘ properly priced’ contracts will gradually lift the share price over the next year. I hope that the UK government may surprise the markets in the Autumn Statement by announcing fresh stimulus for housing in the form of a replacement to the Right to Buy scheme which may be wishful thinking but the national shortage of homes continues unabated and the Tories appear to be lacking ambition after Starmers plans for 300,000 new homes per annum. In a couple of years time this will return to 150p and above so a terrific entry price today.

The market reaction to today’s RNS has been telling in a positive way. Over the past 2 years each positive RNS has been met with very well placed, consistent selling by experienced shorting crews which has been incredibly frustrating for lth’s. The aggressive short covering over the past couple of weeks and crucially the fact that it appears as though the strategic sells have been absent this am sends a powerful message. No-one knows if they will return in an aggressive manner but this has all the hallmarks of a significant turning point for the share price which has been in a vice grip the likes of which I have rarely seen in my time in the markets. Of course it may also be true that some with deep pockets have been buying in such volume that the shorts have been ‘controlled’ but sentiment appears to shifting in favour of reflecting the potential which many here have believed in for some time. So, more regular drill results, updated MRE hopefully with Newmont’s blessing and perhaps we will see more institutional interest as the spectre of uncertainty is removed and as the runway for production with FS, DTM timings much less ambiguous.

USD800,000 gone in 2 months! Any ideas?