Member Info for buried_treasure

Fantasy

With credit to Tuna Hunter on ADVFN

This placing :

"Today's Fundraise will allow the payment of various closing preparation costs including legal costs, bank commitment fees and various other launch-related requirements such as certifications of costs and schedule."

the one before (dec 2024) :

"..announces a Capital Raise (as defined below) to fund closing costs and final preparations for project launch at Tulu Kapi, with full project launch expected in early 2025."

the one in march 2024 :

".. is pleased to announce a fundraising package to facilitate full project launch at Tulu Kapi, with project launch expected to occur in mid-2024."

the one in may 2023:

".. Completion of project financing and launch of the Company's Tulu Kapi Gold Project."

For once you've drawn out a very important point stebo.

Not for the first time, that RNS doesn't pass the smell test in several areas.

What kind of funder demands its arrangement and transaction fees before drawdown?

The type to email about funds related to government infrastructure contracts frozen in Nigeria, an Emirate, etc.

Implausible as it may seem, this has 'advance fee fraud' written all over it.

Winnifrith claims to have more dirt from a whistleblower and is writing to PKF Littlejohn and the FRC.

The Recyclus raise was never a goer. Equity behind the debt to TM1 was always new money for old and needed naivety on a different level. But then looking at the average TM1 mug...

"lender-related expenses and commitment fees"

Advance fee fraud, anyone?

So here we have £2.8M worth of bitcoin and a ragtag of marginally profitable businesses valued at...

£58M.

Yeah, seems legit.

Harry on a treadmill is probably better defined as a key man risk.

Simms45

You continue to talk complete and utter unintelligible cobblers on this so called '$100m sweat equity' concept of yours.

That is all sunk cost. Harry has to generate profits to at least match the accumulated losses BY ACTUALLY MINING GOLD (reminder : you don't even have a mine or even a road to a mine yet!) before it is even legal to pay you and the other golden ticket holders a penny in dividend.

THE_CHAIN

Fact is you have no idea what any of those things are actually worth on a month to month basis because, egged on by you and other telegram mugs, the company has been tight lipped about the commercials.

But we can be sure if Recyclus WAS cash generative rather than consumptive, they would be shouting about it.

And that is before paying the last seen £200K per month PLC costs.

I'd bet a substantial sum it's still burning cash at a right old rate.

Add THE_CHAIN to the list of mugs who doesn't think there's a difference between a business generating sales and a business generating cash.

Are the employees working for nothing? Landlord given them a perpetual rent free period? Knocked a 6 inch nail through the electricity meter?

Troajan doesn't know the difference between generating sales and generating cash.

All we need is Dusty to emerge and tell us after time how he made his rent this week by trading some obscure stock on the nas and I think the mug podium will be complete.

Who will take the gold?

You're now the biggest mug on here David. Bigger even than Dusty. Although Troajan seems keen to give you a run for your money.

"On numerous RNSs... the company says it is cash generative."

Bulls**t, Troajan.

Find me one RNS where the company says Recyclus is cash generative. Just one.

Not one where it promises the company WILL BE cash generative. IS, present tense.

A quick multiple choice question.

Q. Given the promises and cobblers Stanbury and Brundle have RNSd, if Recyclus was cash generative rather than consumptive, would they :

A. Scream it from the rooftops and refer to it every time they opened their mouths

B. Keep the news to themselves

C. Don't be so utterly ridiculous. Crushing batteries in Wolverhampton was, is and always will be a cash consumptive woofing dawg of an operation.

Add DavidRoberts to the list of after-timing mugs.

So after all the abuse David, I was right and you were wrong.

Suggest you stick to gardening. Mug.

And I'd say with no idea what the financials look like on any of those deals, egged on by you and the telegram mugs not to disclose them, you are seeing their world through very rose tinted spectacles.

Of course the accounts would have a forward looking going concern statement, so publishing them would have given us all a definite steer. But for reasons I think we both know, they can't t file those.

"...We also know Recyclus is cash generative..."

Do we? Where is that stated?

I reckon it's still burning through it like there's no tomorrow.

My comment on Winnifrith's latest damning article.

"The game was up when, as widely predicted including by you and me, the CRML share price fell off a cliff when the lock ins expired on 28 February.

After that there can have been no prospect or pretence of clearing the loan notes, and insolvency proceedings should have been commenced.

That they weren't tells me two things.

1. The directors are not taking independent advice on their duties in this situation, and probably never will. This will land them in very hot water following the inevitable blow up.

2. It will need a secured noteholder (Atlas) to do it. The secureds will get buttons (but ever decreasing buttons) in the pound. Unsecureds and equity get zero.

The absence of Recyclus accounts leads us to conclude that there is a problem with either auditor sign off, or the company being unable to pay the audit fee as required, or both. I doubt those accounts will ever see the light of day."

"Centamin were a first mover into Egypt"

Just consider the stupidity of that statement for a minute and ask yourself if you can trust a single word this fool spews out.

In gold mining terms, Centamin missed being "first mover into Egypt" by, oh, I dunno, shall we call it FIVE THOUSAND YEARS?

The fundamental value is £0. It is loss making and cash consumptive and as currently constituted, always will be.

DYOR of course. But IMHHO, buy at your peril.

That intraday chart... a spike and a half!!!

I think that's the last you'll see of Gully01 and Hydraulicmech. Burn those accounts and set up new ones for next week's pump.

14-May-25 10:34:30 36.00 250,000 Sell* 90.00k O

I do hope that's Gully01 paying off his mortgage.

Dropping like the proverbial sack o' spanners. After the pump, the dump.

Or as the other shill Hydraulicmech would have it, "a small expected retrace".

Emperor Hirohito springs to mind.