Member Info for booboouberbear

Warrants*

Wants are there for the following reaons:

1. Give insiders a risk free 24 month ride;

2. Get Bill Trew's / Paracle's votes on side (yes, when the dust settles, Bill / Paracle and related parties will hold a lot of these shares and warrants); and

3. It gives much needed CAPEX.

Yes, PIs are the last of their worries, AIM is AIM, but that doesn't mean we can't earn right good money on it if we time it right, this went to 0.25p after the AGM car crash, and is already on 200% gain on that August date.

What will come now is the usual..."grades are better, recoveries better, the weather is better, gold production is much better than we envisaged on 7th January Ops Update".

Seen it before. Its just the game.

Multibagger ahead IMO.

Fella*

And to you fell.

LOL. Let me school you again, ConMan94.

The Operational Uodate on 7 Jan was a 'Conservative' view, they are going to cruise past these numbers and then some, and this RNS reinforces this. Insiders know what they're buying.

Multi-Bagger in early stages of playing out here IMO.

Anyone out there know of a Gold Jnr in Sierra Leona in desperate need of £600k?

Re. Warrants. It also provides further working capital with executed. But yes...insiders do well on AIM, that's just the game.

Extremely bullish. A recapitalisation was always required. Far from dead this. If they sort out the production in the next few months...up we go.

https://africa.businessinsider.com/local/markets/africas-top-gold-producer-cancels-long-term-mining-deals-hikes-royalties-as-gold/5rbmpmj#google_vignette

for anyone interested. you can't blame them, the 3 to 5% range was negotiated at gold prices sometimes at 25% the value it is now, going to 9 to 12% hardly punative imho compared to other countries.

and i dare say this is probably at the heart of the 'regulatory enhanced inspections' outlined in the last rns.

btw, this makes not a ******* jot of difference to grl microcap. they either sort their **** out here or they don't. royalties only matter on what you produce.

As I have said before, mining is difficult, this is in a tropical environment, over large areas, nothing here is easy for a start up company with limited resource and scarce CAPEX, very few make it this far for a reason.

That said, you can't update the market every month when things are going well, then every 5 months when you've operational set backs, it's inconsistent, that doesn't foster market confidence.

This company needs to 'grow up' on its reporting cycle, big boys and girls in mining Report detailed updates every quarter, let's hope GRL will move to that. And investor can set a calander to that, with a CEO confrence call after it. These things are important.

I believe there is a good chance this company succeeds, and I also believe there is a chance the Q1 figures blows by the stated amounts, as my musing yesterday showed, the Ore Body and its understanding of it, looks fine, it appears to be s ground operation and stacking issues, which I also get is CAPEX intensive, who knows, maybe it was a CAPEX issue, not a technical issue that made them slow up on the stacking regimes.

All to play for.

Yes, the side walls of the pits would have issues in heavy rains, no question.

Lots of things can be right at the same time BTW, they clearly have issues upscalling ore processing and stacking using limited capex and inexperience.

But equally, the CEO's communications and PR is appalling, its unforgivable for a CEO of a listed company to disappear from site when you have operational set backs, you need to manage them, the 'ostrich' routine does no one any favours, least of all the SP.

One thing is for sure, if we have an improvement in Q1 2026, the microcap here will mean any leak and buying will show up in the SP first and vice versa. That will be the immediate 'tell' for shareholders.

No stacking / got into a mess with the rainy season grounds works operation is my guess.

Grades / recoveries vs gold produced looks bob on with JORC, Historical Survey works, etc.

Ore, grade and recoveries look fine.

The issue IMO is the skill and competence levels at mining, sorting and stacking.

I'm a Civil Engineer myself, I know wet ground isn't great, over compaction, liquefaction, can serious affect bulk excation / muck shift. But rain doesn't let you go from 48k tonnes per month down to a few thousand, you can manage it through a whole host of techniques (which still reduces numbers, but not as much). What we have here is a young, and ibdare say inexperienced / poorly funded start up miner trying to muddle through / manage cashflow.

These things can be sorted.

Just musings. Will have zero effect on the SP.

Only a steady operational performance will do that.

going back over the ops update from last week and thought i'd post some musings.

actual production: 144,000 tonnes of stacked ore per annum, actual grade / recovery rate of 63%, 2,900 troy ounces produced. that's only 12,000 tonnes average per month btw, not the 14,000 the rns stated.

stated target: 250,000 tonnes of stacked ore per annum, stated target of 4,000 troy ounces, but the recovery rates produce 5,000.

average processing: 36,000 tonnes per month of ore, that's 432,000 tonnes of ore stacked per annum, that's circa 8,700 troy ounces.

top stated plant processing capacity: 56,000 tonnes per month, 672,000 tonnes per annum, that's circa 13,600 troy ounces per year.

all values in troy ounces. taking a 63% real recovery rate.

thats a wild variance. insert your own reasons for this here. this will range from under promise, over deliver to another incompent and hard to understand ops update.

they've had real problems in h2 digging up the raw material, processing and stacking the ore. that's before we get to the leaching. but grades / recovery are by and large as they state.

going from 12,000k per month stacking, to 56,000 per month is a big leap. even 36,000k is 2 x the average.

as i say, take what you want from these numbers, but could be anything is. ****show all the way to aim multibagger of the year.

It's not 'nothing' you can add the dots from the previous updates to the yearly totals released today. Its not great, but nit nothing.

Irs obvious they've messed up the wet season leaching circuit.

No, it's a fact. It's growing year on year production and based on EPs new found honestly, I bet its Conservative too, massive new Leaching Pad on Construction, bound to be a new record production year.

Let's not kid ourselves, if this was another company, with different history on how it got here, the SP would be multiples of this, there is no confidence here in the story or the CEO, due to what has preceeded it and thus here we are.

But all that will change in 2026, as will the SP be multiples of this at years end IMHO.

My money is where my mouth is. Have a great day.

2025 was a record gold production year, and so will 2026, you can choose to get emotional if you wish, but these are facts.

Turnaround continues, contnued lender support, new board formed, and there will be a new CEO before January is out IMHO. They will also require fresh Capex to grow, and this will come with new investors IMHO.

This is for all the history, growing production year on year, the issue is what has gone before it and the message put out during its start up phase.

For all the history, this is a growing business.

Banjomick, that's how I see it.

They've clearly had issues with their crushing, stacking, and leaching regimes IMO. Happens, and it takes real exertise to get to the bottom of these issues sometimes, plus CAPEX to spend. And you could rightly argue GRL has had a lack of both.

They need to sort that out with upcoming appointments.