Member Info for booboouberbear

Know what the '22' trades are?

Cont...

A lot of this is guesswork, and I may be proved to be wrong. I may be right. If I am right the share price will rocket, if I am wrong, it will plummet. I just felt like posting my views to see if I turn out to be a clever clogs or not!

Hard to call, H50. For all there has been failure here to produce the 1,000 ounces per calendar month touted since 2024, which then failed to materialise, she has still got the company further than anyone else has, she promised to stack the circa 50,000 tonnes or Ore per calendar month, and she has, perhaps AIMS can (they obviously can) see more than us and see this coming good sooner rather than later, and she has their confidence? I don’t know.

What is clear, when you go back to the RNS’s of 11/11/2024 and 09/12/2024, when they stated they stacked 45,000 tonnes in November 2024, it’s clear to me they believed (I don’t believe EP has lied, I believe they had a stacking failure of the ore as previously posted) 1,000 ounces per calendar month was going to be delivered in January 2025, or shortly after, that suggests to me, they are looking at a 90-day stacking vs production curve for when they stack the Ore, to when they believe they will realise the production, that’s pretty average on the leaching curve based on my research going back a few years in mining companies I have invested in.

Move forward to the RNS’s of 12/02/2025 and 26/03/2025, the language changes and the 1,000 ounces per calendar month language changes and it goes all very non-descriptive for future production targets, all dates on achieving 1,000 ounces per calendar month is removed from the RNS’s. They have an issue here, the good Ore is still leaching through and producing ‘record’ gold at that time, however, the 90-day stacking vs production curve for when they stack the Ore, to when they believe they will realise the production is about to plummet in terms of recovery as the grade has nosedive as the non-oxidising Ore has been wrongly stacked that takes us through the Summer as the production continues to fall as the 90 day leaching rates begin to filter through and it appears they haven’t entered / began stacking the Pit 1 Ore until June 2025.

Now, to me, and I am trying to stich as much together here for historical RNS’s (the company sure as hell haven’t told us), that 90-day stacking vs production curve is critical to the future, the RNS of 18/06/2025 tells us ‘Homase maintaining the average 48,000 tonnes of agglomerated stacked ore per month, and feed grade improving with the expansion of Pit 1’. Fed grade and stacking has commenced at this point we are told of the Pit 1 (1-1.2 gram per tonne Pit 1 Ore).

My view is it takes at least 90 days from stacking to seeing any kind of return, that would be circa mid-September. So, my view is we see an improving next pour (maybe this week for the last 6 or 7 weeks or so since the July pour?) and a vastly improved pour after this as the 90 days leaching rates takes hold.

A lot of this is guesswork, and I may be proved to be wrong. I may be right. If I am right the share price will rocket, if I am wrong, it will plummet. I just felt like posting my views to see if I turn out to be a clever c

Thing is, EP is an 'Ostrich' CEO, when things go against her it's head in the sand stuff.

She over promises and under delivers, tand o me, she clearly has a mine team who has had an operational failure in stacking and Ore management. Now that's not great leadership qualities, but it's not the same as being deceitful as HarChris points out, it's just failures.

But I can look bye that, because if the grades eventually improve with Pit 1 Operations, and production and recoveries comes with it, it won't matter to the share price, the market will look forward and this share price will forget the history, it'll have no memory of the past failures, that's why I think this os still crazy cheap at these levels.

I also believe the AGM statement on low grades and low production / recoveries was backward looking and well see the Pit 1 grades shortly come through to pours.

communication aside, which borders on the facial / some bordering on outright lies, it’s complete fake it to you make it stuff here.

mining, stating the bleeding obvious, is difficult. it’s not a ‘sold state’ business model.

my own views are there has been ore body issues. and i don’t think these are grading issues, i believe there has been / continues to be a leaching circuit issue, possibly caused in combination of incorrect stacking of low grade ores from the final stages of the pit 2 operations as updated in the rns of 12 feb 2025, it’s clear to me (although never explicitly stated) they were stacking ores which went beyond the limits of the oxide ore and which caused gold production via leaching to all but cease, they operationally ****ed up, basically.

from there they have been backtracking imho.

this could also be in combination with getting the kinetic leaching rates, heaping and solutions correct, is a tricky business. ores don’t always exactly behave as per the reserve / dfs / bfs may have you believe.

some ores leach faster than others; sometimes you require to get the correct particle sizes through trial and error for the leaching to works or percolation can slow down; granulation treatment with cement and lime may be required; leaching during lower temperatures / wet periods can slow leaching rates; spray intensity rates of the solutions required to be worked on through trail and error; microbial enhancement may be required, etc, etc, etc.

it’s a fantastically complicated subject matter and can take years to perfect. these are real life issues and things you should always be conscious of when investing in miner production startups.

the longer the timeframe goes, the closer imho they are to cracking it.

i have loaded up big time down at 0.25/0.30 and will make a mint should they go on to sort these issues in the next 3 to 6 months.

or not…take your pick.

The drop was ridiculously overdone and a material improvement in grades and production is just round the corner?

What's the issue with the Ore?

Is the resource / reserve wrong?

Have they got the kinetic leaching circuit mixes / Solutions incorrect / still fine tuning this to the idiosyncrasies of the Ore?

Is it just Ore that takes longer to leach? Some can take months, some van take years? Will the next few months see the production improve markedly?

According to a poster on here we have the next pour next week and the result shortly after, do we start to see an improvement?

Only just breached 1% in the last week with the share price tanking and averaged down.

Nowhere near 1% for the AGM. And voted for all resolutions in favour / yes.

Why wouldn't you? I don't buy penny stocks to destabilise the BoD. That should be insane.

Spot on. 3m buy after hours. I could shift 6m shares before the close within the spread before NT.

Corrumpo,

So the pours disclosed to date only include up to end of June? So the July to mid August 6 / 7 week pours have yet to come with this scheduled next week?

Interesting to see what this delivered in the way of recoveries / grades, etc. Given another 6 or 7 weeks into the perceived better ores?

The 30% rule can waived here IMO. Rule 9 explicitly allows for a breach of 30% in exchange for assets.

"The Company notes that it is in ongoing discussions with potential funding partners and, to the extent needed, will convene a further General Meeting in due course to allow shareholders to vote on increasing the Board's share issuance authorities."

It's an interesting statement, hard to know what 'extent' means. But doesn't suggest they are at cut throat stages.

Give this 1 or 2 years I'm still confident of getting a serious return. But my average isn't much above 0.6p now, i get its looking tough for LTHs to see a return as time goes on.

Wasarunner,

You aren't far off my thinking, I think it'll be other investors being lined up for the 477m shares that the BoD tried and failed to get authorisation for under Resolution 7 at the AGM. This was voted down by Paracle / BT. I'm guessing he wasn't invited to the party? So tried a takeover through other parties?

They'll be 400m+ new shares issued to new investors that AIMS obviously approve of, and then AIMS can continue drawing down their Gold Loan interest in new shares and not breach the 30%, but even if they breach the 30% I've seen Rule 9 Takeover Code exemption given before when swapping assets for equity, so nothing stops them going 30%+ IMHO.

AIMS explicity voted for new shares to be issued at the AGM, so that's the obvious next direction here when they get over the Paracle obstacle.

What that eventually means for PIs when we sort out production issues and become cash positive? 2b shares in issued? Could be.

AIMS are the largest shareholder, best funded shareholder, and have a secured loan on the Mine. If 'going private' was their thing, they'd simply pull out of supporting the company, wait till the end of the year when their Gold Loan terms expire then step in, and take the Mine, instead they are aligned with EP in wanting to enlarge the share count to bring in new investors, probably aligned with them. There's no indication AIMS wants to delist here, just the opposite, they want to bring in new capital an voted for it at the AGM.

It's AIMS show now, we do have a quirk of LSE Rules where 25/75% requirements mean BT / Paracle can block for now new shares being raised, but that maybe able to be resolved via agreement, legal action, or AN Other, but I don't see how this now ends up in anything other than a share restructure / new capital coming in, dilution for existing PIs, but it stays listed IMHO.

This produced 220 troy ounces last month, okay, the operations need to improve, but hardly all is lost.

I'm in AIMS camp BTW, and at the next GM I'll be voting to have the share capital increased.

Secured. Sorry.

Https://www.lse.co.uk/rns/GRL/gold-loan-agreement-finalised-l54nt23rbw1wjju.html

Original RNS states unsecured.

From the original gold loan RNS of 22/06/2020:

"GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration and development company quoted on AIM, is pleased to announce that further to the announcements of 16 March 2020 and 30 April 2020, the Company has now entered into the formal loan agreement with Asian Investment Management Services Ltd ("AIMS") ("Loan Agreement") for a facility totalling US$3 million (the "Gold Loan"), of which US$0.3 million has already been drawn down and advanced to the Company."

As far as I can see (unless it changed via further approval I can't locate) it's unsecured.

Which leaves AIMS slightly exposed in all this which is why they'll be fighting like ferrets in a sack to protect their investment.

The more time goes by, and the more Capex thar is spent on the ground, the closer they get to resolving their operational issues, no wonder there's a battle for ownership, both AIMS and BT / Paracle think they can make a long term killing here.

Let battle commence.

Cheap at 0.3p.

We all thought a placing / dilution was coning here May / June when you looked at the relentless selling at the time, it now looks increasingly likely that was front loaded selling in preparation for a placing, well, it certainly wasn't large shareholders selling, they were buying like AIMS.

With further shares issues now required to be voted on in the near future, it would be funny if some institution front ran the dilution that now can't happen without a further vote, which might not succeed anyway and are short hundreds of millions of shares they don't have.

Let's all buy some shares and find out lol.

Are we setting up a climatic scene here where Bill Trew goes to the stage like Danny DiVeto in the 1991 film 'Other People's Money' where he has a vote on a takeover?

God, I hope so.

'Amen'

i'm going to hazard a guess here there is a **** load of shares outstanding to be repaid that have been used during this industrial shorting exercise.