Member Info for Corrumpo

Come on Emma, at least give us poor, long suffering investors something to make us think you give a monkey’s about us. If you can’t tell us how much gold you’ve got/haven’t got/have got but which doesn’t reach the top/bottom line, at least post another meaningless picture on Twitter of a patch of barren land with some rusty JCB’s on, and a pile of sludge next to it. Or a Shutterstock picture of a bloke holding what is supposed to be a gold bar and smiling. Just something. Anything.

I think all of us who post anything on this board want GRL shares to go up. There’s a chap on ADVFN who probably doesn’t want them to, because he sold at a massive loss, but on here, I think we are all in it to win it.

If you’ve followed the company story from early on, there’s one word I’d use for the way the board treat PI’s like us. That word is ‘Contempt’. If you are so minded to go back over multiple RNS’s over many years, you’ll see what I mean. What you will see is not just pretty much every target and statement ever made missed/failing to come true, but also repeated, blatant untruths put out there. When I see people all gung ho because “We’re moving to pit this or that” and “With increased grades this or that”, my immediate reaction now is “What, because Emma said so? I Yeah, right”. Treat all company statements with caution.

Some years ago I met Bill Trew. My overriding feeling was that if you shake hands with him, best you count your fingers afterwards. After he was sacked as chairman and kicked off the board, my hopes rose. Of course, during many of the BT years, Emma was the CEO then too, so she was party to the nonsense that was spouted. What I see and hear from her now does not inspire confidence, it’s just more of the same.

Whenever you think GRL are about to turn the corner, they come up with new and inventive ways to screw over PI’s. Are they skimming? Who knows. There must be gold there, or why waste all this time? So where is it? So many post “The next few months will be crucial”. This is a mantra PI’s have been repeating ever since I can remember. It’s always “Just round the corner”, and has been for years. To me, it’s very telling that the share price is where it is. News always leaks, and if they’re producing the amounts promised, people in the know and their mates would be buying up shares like there’s no tomorrow, and they’re not.

Anyone thinking of investing money in GRL, I’d say sure, have a fun punt. Treat it like going to the casino, put in what you can afford to lose, and assume it’s gone. Anything after that is a bonus.

There’s still some flicker of hope, but personally I’ve mentally written my fairly substantial investment off. I absolutely hope it rockets and I have to eat my words though.

Dear Emma

Would you be a poppet and tell us if you’ve produced any gold last month? I mean, I don’t want to put you under any pressure or anything, but if you could, that would be really great. And if you could not do that thing where you make the reporting period longer than the last one, add a fraction to the number, then pretend production had gone up, that would also be just fine and dandy. Thanking you in advance.

PS. I don’t believe any of the rumours saying that you are actually producing lots of gold, but that a van turns up at night and takes it to Dubai.

Hawaii and Chris. All you say is true about leach pit this coming on line, and something else improving, and the price of gold, and and and. I agree that on paper it’s a massive opportunity. On paper is the best investment you’ll see for a long time. On paper. I would love to see a return and I certainly don’t want the price to go down more as I won’t be investing more. The question is simply whether they’re telling the truth, or have a plan to shaft us. It will all come out in the wash of course, and I hope to goodness all of my fears were completely unfounded. Producing a fraction of what you say your going to produce currently does nothing but stoke those fears, but I hope we’re all smiling in a month or two, and not still pushing round the same conversations!

I only really understood what a shark pool the AIM is when I invested in GRL. I subsequently found out that there are multiple instances of mining companies ‘On the verge’ of this and ‘In the coming months’ that, who build out at everyone else’s expense, dilute and dilute, and then nick the company back for a song for themselves when it suddenly runs out of money. There are times when I think GRL is going to be one that makes it, and other times when I feel we’re all being taken for mugs by a group of people who are purely self serving, and who haven’t the slightest intention of ever providing a cent of value for shareholders. Big red flag that it was only weeks ago that Emma stated they were on course for 1000oz a month, to then miss that by a mile. I’ve watched GRL put out statements which subsequently prove to be false multiple times over the years. I remain hopeful, because hope is all we really have to hang on to. I certainly view every RNS saying something good is about to happen with extreme skepticism.

All fairly sound reasoning Chris. And there’s substantial gold there for sure, or they’d have packed up the tents and sold those rusty old JCB’s long ago. The thing that we can’t legislate for, sitting in our comfy homes in the UK, is whether the theory, and what transpires in practice, are broadly aligned. Eg, we can’t see if a van turns up and some of the gold mysteriously makes its way to Dubai, or any of the other myriad of tricks other AIM listed miners have historically done to line their own pockets at the expense of investors. We just have to trust, and really hope, that the reason Emma can never look directly into a camera lens is purely due to being socially awkward, and not other reasons. We all remain with fingers firmly crossed…

Chris, why would you bother with what anyone else thinks? A lot of the time it just sounds like you’re trying to convince yourself. No one on here really knows anything, and they’re just guessing. And what anyone says on here doesn’t influence the share price a jot. I have my own opinions, based on years of watching and listening to what RNS’s say, or don’t say, and I’m still no nearer. I certainly wouldn’t suggest anyone buys or sells on my views either, of course. My views are somewhat jaundiced by years of false promises, but I really hope it comes good. It’s not a FTSE 100 UK company, it’s a gold mine in a bleak Ghanaian landscape, and investors have to endure all that goes with that. The very bumpiest of rides. We may make a few quid, or it may crash and burn. Who knows? And only the board know if they’re playing with a straight bat. All the analysis in the world won’t get gold filtering to the bottom line for investors benefit if they’re not.

I agreed to drop it all? No I didn’t. It was a specific conversation with GG about his specific prediction, and I said I would reconvene with him in March about that specific prediction. And I hope he’s right and I’m wrong! It was all reasonably light hearted as far as I’m concerned. If you mistakenly thought that precluded me from any further, and different discussion, ie, like where the gold pour news is, well, that’s your problem, not mine. If you have time, look back over a lot of the old RNS’s and count up the statements which have subsequently proven not to be true. That’s why I’m cynical. If you’re not, then that’s your prerogative of course.

I meant I haven’t commented in my latest post about the amount, only the timeframe. I just think it’s naive to take whatever Emma and the board are saying as gospel, when there is a long history of smoke, mirrors and subterfuge with this outfit. And during all those dark times of false dawns, Emma was the CEO. Bill appeared to want to run this into the ground and take it private, and who knows what’s really going on behind the scenes here. It’s a gold mine in the Wild West that is Ghana. False promises for many years has led to a degree of cynicism that others hopefully won’t have to ever encounter! We all want to see it rise, of course.

Feels somewhat contemptuous towards shareholders not to tell us what the pour was for Feb, by 18th March. Bill never gave a flying about shareholders, but with him out of the way, I hoped Emma, despite being a party to, and therefore complicit in, what Bill was doing for many years, might do better without him around.

And does anyone know what their PR company, St Brides Partners, actually do, apart from spend 10 minutes here and there typing up the odd RNS?

Yes GG. Exactly that.

Support levels…resistance levels…

This share needs one thing to make it move. Gold levels!

GG. Let’s reconvene in a month then, and see if it’s 800oz. I sincerely hope it is.

I think February pour is absolutely essential to the price in the short term. Short month? Then produce 28/30 or 28/31 of 1000oz! If it’s 500oz it stays where it is. All agreed there is bags of potential. We’ve been talking about the potential since before some people on here had hair on their bits. This share is going nowhere on talk, or on potential, or on what people think is undervalued, or any other rhetoric. It moves now on one thing - actual production. After clearly (and repeatedly) stated production targets are hit, and maintained, only then is there a bit of scope for further SP increases based on what they hope to do next! As evidenced by the price, the market wants less talk, less excuses, and more action!

Yes Chris, but with the greatest of respect, you’re just guessing like the rest of us. To continually say, and even in the middle of November, that they’ll hit 1000oz in January, and then just eight weeks later announce half, is a worry. I’ve seen ten years of excuses and why things have or haven’t happened. Rain, theft, coffee machine broken, points failure at Clapham Junction, plague of locusts, Fat Bill has fallen over and the machinery has been diverted to pick him up, etc, etc. We’re all optimistic, but cautiously. The share price is still at 1p for a reason!

Although over 1m shares have just sold. But I know people who are buying and selling GRL at these levels and more, and they are literally just punting, so I don’t read too much into it. They know the same as the rest of us, relying on statements from the company and a hunch.

Hopefully an update RNS tomorrow or Monday latest. I do try not to be cynical, but my guess now is a pour in February in the 400’s or 500’s. If so, we stay at 1p. North of 700 and we move on up.

@bbn I totally understand your positivity regarding what they say they are going to do, and I hope they do. Now a certain person has been ousted, it certainly has a better chance than before! But there’s a reason why the share price is still at a shade over 1p, and that’s because everyone is waiting for them to actually deliver, and not find more excuses as to why they are missing targets. I’ve been on this ride for many years, and it’s been a series of questionable events and subterfuge. And, yes, as well as the departure of the fella who was a part of the problem, and the previous operators being kicked off site in favour of the current players, the CEO, Angela, Wilkins (what does he do?) etc, are the same. So, again, I think this share price doesn’t go anywhere until the production figures are close to 1000oz a month. There is a lot of confidence repairing to do. That’s not being negative, just realistic.

@Bigbitenow. That’s really well written. The last point is particularly important. For years they have missed every target they’ve indicated they will hit, and again just recently with the 1000oz statements “From January..” etc. That’s why the share price is static. You can’t over promise and under deliver year after year and expect people to believe your latest statement. Emma’s interview was full of stuff about the potential, but actually hitting that 1000oz, and keeping it going, should be a game changer and lift the whole thing, restoring confidence and finally raising the price out of the doldrums.

Listen, I get your simplistic ramping. I’m on your side in that I want it to go up too. However, I’m a realist and you’re believing everything they say. I’ve been party to missed target after missed target and half truth after half truth for many many years. Were you around in the Bill years before he got booted? Emma was there too don’t forget.

Much as we all want to take the positives from such an interview, it can be summarised as such.

“One day…blah blah blah…in the future …blah. May take a while blah blah…” What a poor ‘geezer’ type interviewer too. However, we live in a state of eternal optimism…as we have done for many years!