The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Amazing how quickly people forget the company raised funds in November.
The problem with this company is mainly down to the CEO and the fact Kilimapesa grades are too inconsistent to become viable.
A lot of people didn't like him but Jason Brewer a 'flash Harry' director here, sold out around 1.2p+ area and started MARU.
,
Within the time frame of him starting MARU and now, the SP here has dropped over 80% and his company is around 700% up.
I think that tells its own story but keep on believing...
Targeting two major fault zones and the Karoo Group
More bang for your buck, I fancy they'll have a commercial discovery and they're testing and drilling at the same time, news could come sooner than expected.
Good luck those invested here
The suspension is nothing more than a frustration, the real concern is why the company had run out of money.
The suspension will be lifted after the financials are published, we know they had run out of money because the auditors only arrived after the company had raised funds.
The CEO has lent the company money, changing his status to creditor, protecting himself if the company does go under.
There's far more to this than meets the eye because expanding into Tanzania when you're cash strapped, prevents organic growth from within by using valuable resources, (money & shares issued) thst are really needed elsewhere.
My concern is if the company can't find extra funding, how long can they limp on for?
There's nothing legally binding signed that's been RNS.
This is turning into an expensive lesson for those getting close to a CEO who hasn't got a proven track record of delivering.
2024, could be very hard going here, so far they've introduced a part of the turning mill, I can't see that increasing production they have claimed.
Kilimapesa could well be moth balled (again) if the funding doesn't arrive.
If they do get this drill underway, I quite fancy it to have a successful outcome, mainly based upon information gathered from the last drill.
Only worth a punt though as its high risk holding for results.
LW unless there's a dramatic shareprice rise then I'm in for results. I'm using recently generated profits for a punt here and will enjoy the ride.
It is high risk but even on poor results, I feel this would become an AIM cash shell and provide another opportunity to make a decent return.
JC is talking utter tripe and losing credibility with every 100% for RM post.
The reason why the audit /suspension is taking so long is because the company did not have the money to pay for it until they raised $1.55m in November.
The audit will be comprehensive but this a small one operation company, due to the last audit it had a decent base to work from.
This is also a financially struggling company and the CEO has positioned themselve as a creditor.
The CEO's modus operandi is to delay, delay, delay. I'm expecting the same from him going forward.
LTH have been royally shafted and that's not unusual for small caps, hence never to go in big unless it has managable debt, available funds and generating increasing revenues.
Without the above, you don't need to be a drilling expert or a day trader to know this is only worth a punt.
These RM lovers 100% behind him are actually reasonably intelligent people who either can't see the wood for the trees or they're being untruthful.
You can fool some of the people, some of the time but you can't fool everyone.