Member Info for BeenhereB4

Victor - Are you the gendarme from Allo Allo?

Well, there has to be some news shortly, they have to find $800,000 at least by July, to pay for the last tranche of the acquisition.

I meant a solution for him.........not us.

Diggit - It's not beyond the realms of possibility. As far as I know, he is still a significant shareholder and unlikely to secure a suitable management job in Oz at the moment. A spell in the USA with a Company not connected to the ASX could be just the solution.

At the AGM in July, it was reported that the management felt that they expected to have sufficient funds to be able to afford payment of the last tranche of the acquisition without raising additional capital. It was disappointing, therefore, to see that they did just that, three months later. However, some of the funds raised are reported to be used to engage specialist sales personnel and if they are successful in doing this to the extent that they are able find the $800,000 required next July without too much disruption to the capital base, there should be a significant uplift from here over the next couple of years.

I wish all holders here, especially those (like me) that got burned in Calidus, a Happy and More Prosperous New Year.

Build it and they will come!

Judging by the state of the Company, if the announcement is in any way positive, then Easter Sunday might be an appropriate time to release it.

I suppose the one good thing if this went to litigation is that this lot have spent so much time in various Courts, getting a favourable decision may be the one thing they are good at, although it is difficult to see how a Court can resolve a dispute about who should be responsible for raising capital or how it should be raised. Clearly, there are deeper issues and the reference in the RNS to 'lack of additional sales' and 'marketing being the under performing part of the business' seems to imply that they put the fault right at the foot of the door of Shawn Helda and are either disappointed that he has offloaded a pup onto us or they consider him to be a liability (probably both) and want him gone. The most illuminating part of the RNS was the reference to 'possible restructuring options as the main creditor to Falcon Isle,' which, to my mind, implies that they are considering forcing Falcon Isle into some form of Administration, with Keras, hopefully, coming out the other side owning 100% of the Company.

From the lack of due diligence on both projects, the inability to secure a licence in Togo, the abandonment of iron ore and cobalt leases to the tribute mining fiasco and now this, it has been a shambolic performance over the last ten years by everyone concerned.

Top up their tan.

For some reason, whenever I see an RNS from this lot, I am always reminded of the film, 'The Wolf of Wall Street' and what it must have been like to be on the other end of one of Jordan Belfort's telephone calls.

What do they want another million quid for? Apart from popping back to Togo now and again to pop up their tan, they don't do anything.

Apparently, part of the last placing, from only a month ago, which was due to go towards working capital, wasn't sufficient. In the unlikely event of Togo getting the green light anytime soon, the wording of the RNS suggests that another crappy acquisition might be on the way - a 51% stake in an opium farm, perhaps?

6 Billion and counting!

Andee - It's been emotional!

Best of luck with Calidus.

You are absolutely right, and no apology needed.

Good luck to you, also.

Meant to say 'relative' success of Calidus.

Hi Chirpy - I realise it wasn't a cogent argument, I was just trying to draw the comparison between what can happen when you invest in a management that know what they are doing, rather than a poor one, that form a Company and invite people to invest in developing a project on a piece of land, which, according to some reports on here, they had no legal right to be on in the first place.

I don't have a short memory, I first invested here eight years ago, have not had the chance to average down my holding and although grateful for the the relevant success of Calidus, I am still holding at a loss.

Regardless of my difference of opinion with yourself, Pinecone and Markyess, I wish you and all shareholders as happy a Christmas as you can have in the circumstances.

Jim - next year just has to be better - Merry Christmas, mate.

I suppose, by now, everyone has heard of Greatland Gold. Back in January, their shares traded at around 2p (were sub 1p at some stage, apparently.) Today, they trade at around 35p. About seven years ago, shares in this crock traded at around 2p, have never been anywhere near that since, and now look at them.

However did I get involved with this 5.2 billion shares in issue pile of dung.

Have a very Happy Christmas everyone.

Sorry Marky, I meant another acquisition might be around the corner, not another raise.

Having raised this amount of cash now, I find it difficult to understand why they felt it necessary to re-negotiate the deal with Novo regarding the acquisition of Blue Spec, especially as they say the Company is now fully funded to production, which will, obviously, include paying for the acquisition (even though the RNS does only say the funds will contribute towards it.) What's the difference between paying for it in whole now, or paying for it in instalments, if the funds are coming from the same pile of cash available?

In the same way that the RNS regarding the last substantial raise diplomatically mentioned that the funds were for on going exploration (as does this one) and never mentioned the acquisition of Blue Spec two months later, it wouldn't be the greatest shock if a similar pattern was prevailing and another one was just around the corner.

Marky - Thanks, I hadn't seen that.

Has anyone actually seen a current Balance Sheet for Falcon Isle? Not good, I'll bet. I still find it difficult to understand why someone would be willing to give away 51% of a company that has just gone into production, for around $4.3 million (including loans to be repaid to Falcon Isle shareholders,) which can, apparently, be easily repaid from cash flow generated from profits.