RE: RNS10 Apr 2020 08:54
Acker, I am not trying to contradict your post in any way, yes it is more dept but there arent many AIM companies or companies in general that dont have some level of dept.
It isnt death spiral finance and it is a loan similar to those previously loaned by the trust as this is probably where most of GR cash is now tied up.
By way of dept this company has a friendly loan from Steve Dattels - Regent (Circum) to the tune of $300k and the recent loan from GR of $200k - Total $500k for a exploration and mining company (not excessive in any way).
The frustrating purchase was for me Circum, why it has been a long time coming I believe we are now closer than ever, SD (Regent) is massively involved with Circum, circum was originally purchased from PREM for cash and 2% holding. We acquired the additional 3% with the hope that the cash from the sale would set up Zulu and fund other operations, not everything in life i straight forward, I think a lot of decisions that are made by GR are on face value and what he has been told. However, I am expecting a update on the following:
RNS 1 Early next week.
-Extension of Regent Loan and possible update, brief or otherwise on Circum
RNS 2 From next week (so anytime)
-RHA - Update on the $5m or the possibility of increased holding up to 85-95%
-Either way expect a update with this in relation to MNH coming on board so we have a diversified management team and increased exposure to MNH and a revenue income (Magnesium up 20% last week alone) - Could be a stand alone RNS or combined
RNS 3 From next week (so anytime)
-Zulu EPO - Possible JV partner update
Its a difficult for one to suggest that GR has painted his self in to a corner (even though it may look that way), we have all been her long enough to know by now that the Zimbabwe Government, MOM & NEIFF have basically dragged this out and taken the p!55!
Maybe GR problem could have been that he has allowed them to dictate the time frame due to not wanting to upset them, however I think we have come a long way and GR knows we cannt keep pumping money in with a partner that only wants to receive, they need to hand over cash or hand back a percentage of their share.
Many may believe its not the best approach but what do we keep doing (if we continue to dilute to pay costs and wages its seem to some as life style company for GR) if we put pressure on the government and push back GR is seen to be taking the wrong approach.
Now that the push back approach has been adopted some see it as to late (personally you need to play soft ball before you play hard ball) its not a ****ing contest.
He has (maybe for to long) been to forthcoming to accept no for a answer but I believe now that this is in the public domain and the Zimbabwe Government , MOM & NEIFF - either publicly have egg on their face as they have stated they are open for business or they are not - very simple!
Im guessing only time will tell and Tuesday at the earliest before we
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