Member Info for CHRI5P

Hi Shed, another ex director who was in charge of the plant at Jubilee was announced to be a director.

Additionally, CB up until 2 years ago was CEO of Jubilee Metals the largest miner of tailings based in South Africa and an ex director of Jubilee will be a director of Taynagh. Is this all just coincidence.

One of Colin Bird's companies called Tiger Royalties is raising £3 million for new age technology companies. CB used to be the CEO of EUZ and TIR invested in the company before it changed it's name to EUZ. Just by coincidence the amount Viridian was trying to raise 18 months ago was £3 million. TIR's current assets are in copper/zinc/gold exploration AIM companies run by CB. Could some of the £3 million be used to take a stake in the new EUZ to help finance the RTO going forward?

CB is director of TIR who is to raise £3 million and change the management and investment philosophy of what is really an investment company. They will now concentrate on technology companies/assets. The seller over the last 4 weeks might well be TIR who owned 6.5 million GLR shares. Just a thought.

BS you're correct.

Apologies for my mistake everyone.

In June CB said we had over £4 million in cash - I suspect most of the Afrimat and SFR shares were included or had been sold.

The Finals in the RNS did not break down the 'other financial assets' and 2023 interims showed that most of the 'other financial assets' were SFR and Afrimat. I should have checked.

So we have £3.1 million liquid assets which means on current spending we will last over 2 years rather than over 3 years

Suprised no one else pulled me up on my mistake..

BS I don't think you understand finance and I am open for the best outcome. Drilling costs money so why do them if we can get a good deal anyway. If we can't get the right deal then drill to get a better deal. Drilling would not happen until May I suspect so there is time before we need to think about drilling. CB sold 8 licenses to SFR because the price was right compared to the cost of drilling and the possibility of finding less than expected. You're to black and white when the options are multiple and price of a deal is so far below par. Patients we are both cash rich and asset rich.

BS I said we might drill before we sell or mine the OP. The most important thing for myself Ana, Data and CB is that we get a good price or low contract deals. Remember we do not need to sell this year or next year so why act desperately and accept a low ball offer.

When you play chess do you tell your opponent your next move?

Yes data this January we might get:

Explosive Shinganda drilling results

More drilling required NW drilling results with the outcome being we move to the second stage

Luansobe mining plan/sale

Botswana news

Could be an electric start to the year

Some nice buys today. We quite often get a few RNS's in January.

No but the BOD have said the Denarius shares are ring fenced and will only be sold off slowly if we ever need to. The plan is to fund the RTO independently without using the Denarius shares.

Yes, Data I remember that discussion and the SP rose. 15 months on and Luansobe is a different beast. CB holding out is very good and it is all about our cash position. This time he sold out and took the cash with XTR because he had no choice. If we offere $9 a ton then I would say $25 million up front would have been reasonable. We are valued at £10 million with £5 million liquid assets. Anyone who thinks the Luansobe OP is worth less than £5 million is deranged. Nevermind, the 2 deeps, The NW, Shinganda, Bulawayo, Kamativi, Kalahari licenses, Nevada, Ka$hitu and a SFR possible payout. Anyone, switching to another share must be mad.

Finally, perception and sentiment change on a spin but assets and fundamentals don't.

Apologise for the English, EUA are still waiting for a sale and at one stage they were worth £1.44 billion with £13 billion inferred assets in the ground with no PFS just a mining license and a small loss making mine to the side. The assets are in Russia. Perception and sentiment is far more important to AIM than actual assets and fundamentals.

We can only value GLR on the assets because the AIM market is broken. I bought EUA for on average at 0.4p. In October 2019 a speculative RNS came out that they were discussing a sale with banks. By the end of the year they were at 4p. In February 2020 7p they were 7p when they were suspended for not having a Normad. They can back in the june with a report they paid for themselves which suggests high profits and a broker wzs caught short. By October they were at 40p their peak when I sold 250,000. I had sold out completely a year later for a total average of 13p. They are now at 2p still 5 times higher and their assets are in Russia. The point is no new meaningful RNS's were delivered yet a 100 times increase and now 5 times. Yet they've exploration is in Russia.

If the RTO is agreed by shareholders you will not get the Denarius shares. The Denarius shares are not part of the RTO or funding for it. The RTO might just be the deal we need.

The exclusivity period ends the middle of February so not that long to wait. We will need to vote on the deal and the proposed funding in place to complete the DFS. I can't see the funding price lower than 2p because no one would vote in favour but it could be much higher. Will not put a figure on it. A loss making AIM company which might go bust this year received a €800,000 grant for fuel eco efficiency and so that is definitely on the cards for us. Happy new year and hopefully we get a nice surprise soon

The good thing about AIM is that because people don't understand what they're doing you find absolute bargains that will 10 bag or more with little or no news.

Rely

The AIM market for me is worse than a roulette wheel betting on red or black. Because at least with red and black the outcomes are known with green being the outsider. With AIM you rely on people who lose money 70% of the time. I think GLR is worth 6p today compared with all the other AIM exploration companies without any new information. I just believe until you reach a market cap of £50 million the professionals don't get involved. So we really on idiots who are destined to lose money on other poor AIM companies that will fall. The AIM market is what keeps GLR down.