Member Info for danieldavis

65% of something is better than 100% of nothing (we have to assume phase 2 goes ahead, hence the extra 10%). Slightly concerned that the terms of the 3 million loan have yet to be negotiated, I would have thought we'd learned our lesson with the previously aborted funding. But, needs must. Clearly lights were starting to flicker.

Definitely more than meets the eye to the PKF piece. We'll never find out, so not much point wondering.

And we've not been mining the open pits for 8 days due to artisanal miners, staff told to remain at home. GCAT can't do a lot about that other than wait, but 8 days feels quite a long time to tell investors "your gold company can't mine much gold at the moment".

Welcome to sareum.

Always drops between news.

Often doesn’t recover fully, too.

This forum isn’t one of them.

Why would you expect an update on a discussion forum? It’s for opinion / conjecture. That’s all both sides of the coin have to offer, too.

You want a company update, click RNS.

It isn’t even close.

We were told we’d get an update as soon as confirmation of the timing for completion was received... That was over a month ago and they must still not have timing or we’d have been updated.

I'll join in, but I'm somewhat loathe to because it won't be overly positive.

Yep, just an update would be nice. I appreciate we're running fairly shoestring at the moment so are unlikely to have dedicated PR resource (and twitter has slowed to a crawl too), but it's now a 'working' month since the last update. Even if it said "Unfortunately we are yet to receive a timeline from PKF LittleJohn, but we continue to engage with them and will update shareholders as soon as one is received" then we know where we stand.

I've also re-read the 9th May RNS and noticed something that hasn't been widely discussed;

'As part of the Group Audit an independent review of the Kilimapesa 3 year mine plan was required to be undertaken. This report was submitted to PKF on 3 May 2024.'

4 working days later we were putting out an announcement saying we have no timeline and we've done all we should. So regardless of what friends in the city say, PKF weren't in a position to complete anything until the 4th and, I suspect, that report would require a few eyes on it. Is a month since receipt unreasonable? On balance, probably not.

And I don't disagree that they didn't "have" to update. This is my point around most of the RNS process. It's quite easy to see most of the rules one way or the other. There are very few scenarios where you'd absolutely have to update until 100% solidified.

I'd have "liked" to have seen an RNS that updated the market with "we have not yet currently drawn down the funds due to ongoing discussions regarding XYZ. We are optimistic that these will conclude positively and will update in the coming days".

But I'd also have "liked" us to submit the accounts on time.

No, my wording presents known data. It had to be drawn down by 31st December as per the RNS. It wasn't as per the later RNS. The company knew it wasn't drawn down in the interim period because it wasn't in their bank.

Nothing libellous in that.

It's not me who has this holistic belief in sign off and FCA rules regarding RNS announcements. It's you that continues to tell us all that the wording of them goes through rigorous approval processes. Myself, I think AIM is awash with slow announcements. I see this company as no different. What would I tell the FCA? "They're a bit slow at admin". Errr, yeah, we're nearly a year late for accounts... Go figure.

I have the words in the RNS. The long stop was the 31st December. When funds weren't drawn down by 1st January we should have been told on or by the first day of trading (3rd Jan). No? People on here were discussing it with "shouldn't we have heard something either way, by now?". Would you not consider that to be important information for shareholders to know in a timely fashion?

On the day the RNS finally dropped there was a 10 fold increase in share volume. Feels like the market were very much interested.

"Formally accusing". I love how that's your go to. This is a discussion forum, people are allowed to discuss that they think the BOD are terrible. Just because you don't agree doesn't mean everyone else is wrong.

Bit like when they updated the market with this - https://www.lse.co.uk/rns/GCAT/financing-update-n63bb6tscqfg8dl.html ?

At least a week after they'd have known about it and likely a good few weeks after discussions began.

No, just bored. Thought I'd already said that? Am I allowed to be bored after 8 months of suspension or should I be sending Robbie a thank you card?

I've never known somebody get quite so defensive of a BOD that isn't a member of that BOD, or sleeping with one of them.

Hence, thanks Robbie.

Thanks for the update Robbie.

Hum de dum.

I agree that they're all buys and they're all sells.

The recording of whether it is a buy or sell is who initiated the transaction. That's how I always look at it anyway.

Why would we see a triple digit increase if the news confirms what the BOD have already said?

I'd love to see one, but I can't see it happening. BOD say results expected to be satisfactory. Confirmation they're satisfactory will move things a bit, but the bulk of that news must already be priced in.

The only punt that RTOP is worth is one where you punt the share into touch and never look back.

'they' :D

Why does everybody always go straight to all trades being a huge conspiracy?

Or, is it just because there is always radio silence on 737...? ;)

As a general rule, JC, yes. That's how business works.

Sitting at the top isn't fun. You get the plaudits when it goes well and the pelters when it doesn't.

What I don't understand is your insistence on the opposite - it's never down to poor old Robbie. It's a confusing stance, unless of course you're very close to him (or even are him). The complete absence of balance is odd.

FWIW, I think he's done 'alright'. Four out of Ten. I've seen worse but I've also seen better.

Yep, we’ve gone from 65,000,000 shares in issue to 100,000,000

So quite a lot more.