Member Info for Bebeto

JC it was an issue really for Goldplat to resolve and an opening balance isn't really a non material as RM thought.

It was a good update, it answered their MRE questions because it was obvious they'd cut it short and glad they'll go back to drill.

RM being a gibbering wreck actually made him believable too he calmed down towards the end . So all in all I'm happy with that :)

Swimonster we still have the possibility of upto 680m shares to come before the end of the year and Tanzania still has upto $3.5m worth of shares to come ..

Swimonster, Dilution is the reduction in shareholders' equity positions due to the issuance or creation of new shares. Dilution also reduces a company's earnings per share (EPS).

Let's see how much the directors are paying themselves before deciding if you think they're aligned with shareholders. If they owned 50% of the company then there's no disagreement.but you never how they even pay for theirs.

100% for me is the SP, 30% dilution since listing has hit the SP hard and if it continues at that rate the AISC will mean nothing.

Also bearing in mind that the 2koz is the capacity and maybe not the actual.

They'll only turn a profit when they become fully operational. Too much emphasis on AISC leading to lmis-interpretation.

No you read that right because the real loss from operations was $-1.197m

The same RNS also say operating loss - £8.4m

For me, RM still has to prove himself, he's talked the talk but his actions have been dilutive to shareholders and also as yet not delivered anything.

JC on the other hand is a well respected investor and his integrity is unquestionable.

So if RM gets up tonight and says something different to the auditors wanting non material numbers, we'll all know he's lied to JC.

JC I thought you were doing your jobs :)

I'll be looking for clarity regarding the suspension. The reason given for the suspension feels vague, opaque and brushed over.

The timing of it also doesn't quite feel right.

Goldplat mothballed Kilimapesa because they had run out of money.

It's so obvious that GCAT has no working capital, they're going to have to fix both priorities at the same time.

RPdard the situation needs to be rectified this week otherwise it's far more in depth than we're being told

BTW. I really hope it is something from the legacy and not the MRE because I don't think it would stand up to expert scrutiny.

I must admit I'm chomping at the bit to see the financials. I want to know how much they're paying themselves and CAPEX.

It will also mean we are out of suspension.

JC you're the one implying that it could be more than one thing and now I feel the my experience with auditors is somewhat detracting from the situation we are in.

I've had quite a bit of experience with auditors and never had a huge problem with their thoroughness, after all that's their purpose. They do ask for things and they are dealt with straight away. There's certainly never been any finalising problems that hasn't been tried to be resolved beforehand.

Two companies yesterday were suspended for not declaring audited results and all the rest did it fine.

The story about what they want keeps changing , I thought it was a non material number on the balances and now it could be several things they want?

JC, We're talking about a company that is less than 15 months old, there can't be reams of information to sift through.

It's something that's not in the company's possession and therefore they can't guarantee when it will relist.

JC, My take is the auditors ask for information and the company gives it. I don't understand how that's working extremely hard. Maybe, they don't have the information and are trying to find it but they haven't said so and they are vague about what actually this information is.

It's important for shareholders to know and understand fully as it's our money that is tied up, some investors seems to have blind faith in management where others prefer to stick to the facts.

The share is currently suspended and anything in the future is irrelevant until the suspension is over.

JC, did RM actually say he had this information to hand?

We can all come up with theories about the suspension and whether you're worried or not but the bottom line is the same and that the auditors need to be satisfied with the information and until they have this information in their possession then it's not going to come back on the market.

Clearly the company itself is not in possession of this information either and until they are nothing will change.

But they reckon it will be resolved very soon?

Hodge, I wasn't talking about near term dilution, we have to wonder about next year if the don't manage to get the £7.5m windfall from options that expires 31st December, what will they do?

We already know there's upto $3.5m worth of shares still to come from Tanzania.

If they generate funds through debt, I think it's imperative that they go for another asset by that means also.