Member Info for Bebeto

Apro, I'm thinking about the processing plant, to enable an upgrade there must be a partial stoppage of production on the line.

Secondly, the heap leach operation it's possible the heap leach pads were loaded up in one reporting quarter and the gold extracted in another reporting quarter.

The above would explain a big drop in production in Q3 and the relevant increase in production in Q4.

Therefore Q3 production results could be taken out of context.

Legalwolf, it's not all bad news, the COO & CFO are quality players for any management team. I think the CEO should step down but if not then he needs quality guidance that he's not currently receiving.

4.30pm RNS on a Friday is cowardly, I want to stand up face the music and show some fight.

All the issues revolving the company can be dealt with in a strategic proper transparent way.

Q3 production is likely to be much less than Q2 production probably 350-500oz for the quarter otherwise there's no reason to hold it back.

Frustrating not receiving the Q3 results as we could have got an idea of how well the heap leach operation is working.

Legalwolf, worst case scenario would be a protracted renegotiation for funding if Philaro won't budge on their $3m offer or retract it then shareholders could accept dilution if it was on the premise of a share buy back when the revenues allow it before any additional asset purchases.

Bushy, that's true about costing. The SP hopefully has levelled off we'll have to see what affect if any about the chairman going perhaps they'll get someone with calibre in

By my own estimation, they'll need $5m to continue upgrade processing plant, they should suspend all work in Tanzania and redirect resources to Kilimapesa gold mine.

Hopefully they'll get the $3m funding and maybe negotiate it up to $4 or $5m. It's odds on a placement will come and I'm hopeful for it to be no more than $2m. Then we'll see how much revenue they can generate.

Legalwolf, I don't dislike RM but I do think he's totally out of his depth.

He's made a catalogue of errors an experienced CEO just wouldn't make, if we were listed on AIM he would have had a NOMAD for guidance and most of these issues would have been stopped.

Shareholders (not traders) are a forgiving bunch so total transparency will always smooth over anything considered bad news.

Whoever advises him needs to go also, he needs to get an experienced CEO to learn off and quickly.

The reason I'm staying and buying more is because there's huge potential here. It's not likely to go bust and it's definitely the cheapest gold producer with massive exploration potential, on the market.

The lower the SP the more bang for your buck buying if you have a long term view.

Legalwolf agree,

I also think KC and the Sunshine band of Rampers are also complicit in trading this down for their own benefit.

There's no investing literature anywhere that would suggest the level of belief in a CEO like they maintain even though the SP has fallen in half within a fortnight.

Definitely sold out with perfect timing.

I wonder if the joint broker will also stay , they won't be happy with their clients are 55% down currently.

£2.0 million before expenses via a placing of 177 million new ordinary Company shares (effective price 1.12 pence per new share issued). Shares were acquired by a major shareholder of the Company and strategic clients of Clear Capital Markets, the UK-based stockbroker and wealth manager. The placing was extremely well received. Clear Capital Markets will be appointed as joint broker with immediate effect.

The CEO needs to step down and they need to get someone in with experience.

RM lovers may not agree but they'll be an SP price when they do and it will probably be too late.

We don't know how much gold/ revenue they have produced for the last 6 months therefore we don't know what the current financial position is. According to the last interview, it doesn't sound like they are currently exploring without funding.

After the AGM they'll be in a position to do a placement to obtain funds quickly. It's a race against time between negotiating funds and a placement.

Legalwolf or should I say John Snow, ;) I just meant the people giving you stick.

Legalwolf there's people who have lost a lot of money here and because you happen to question the goings on...

What's Gervaise Heddle doing nowadays? He'd do a proper job here.

SP is exactly half the price of when it did the IPO inside 15 months ago.

He's clearly out of his depth

Legalwolf, I think the wrong person left the building today as it should have been the ramper in chief. He's talked the talk all year taken out two loans behind shareholders backs and failed to release Q3 results and failed in raising funds.

Now they'll have to do a placement of some sort after the AGM.

I'm holding shares on 3 different platforms and still haven't received any indication there's an AGM. (Red Flag)

I've decided to hold this all the way down and just keep buying as it's quite a lot of fun tbh

A lot of traders have been burnt here along with RM lovers, so we're all in the same boat