Member Info for Fr.Jack.Hackett

Mr Samsmart,

" . . .What do you think the sp will be on 1000 ounces a month. . . ", suggest in the order of 4p+ PROVIDING the BOD show evidence of maintaining minimum 1000oz (12koz/year) production for years to come.

I have a complex economic model which my 11th Gen Intel i5 processors takes some time to calculate:

Production 12koz, POG 3k, AISC 2k, DIVs 30% FCF, MCAP = 10xDIVs

12x(3-2)=FCF = 12m x30% = Dividends = 3.6m x 10 = MCAP = 36m /900m = SP = 4p

I specifically chose 2k for AISC to keep calculation simple to avoid overheating processor - feel free to experiment.

Items of interest:

- AISC

- Reserves for the next few years production

I am sure for the 1st point - the actual value won't really have much influence on share price (as they must be operating around the $1500/oz guideline) - but adding clarity on this would indicate a level of confidence returning - which would be encouraging and influence SP.

I would suggest some detail on the 2nd item - and evidence of some mining and production plan - would be significantly influential to the SP moving forward - providing investors generally believe what the company say in RNS.

A few items of interest:

Mr SamSmart, ". . . If this doesn’t hit 2p with in 2 weeks then I will retire. . . ", for most of the similar phased posts I read on AIM shares in actually state the opposite, just an interesting point.

Mr SamSmart, ". . This was 2p a year ago. . ", please remember how many shares were in service then - maybe it was only about 500m, so maybe 2p a year ago is similar to 1.2p today with regards MCAP. "Company is debt free", I think that has been addressed by other posters.

Mr HarChris, ". . . shareholders have become weary and tired of missed targets. . . ", I do believe missed targets will make investors weary, but many may like to rephrased to "misleading targets".

Mr ID78,

You may have a timescale of mid-summer for GRL to hit their target of 1000oz gold a month - but you are not writing the RNS for GRL - and they are in the best position to predict production and they stated January for 1k - and were still saying this just weeks before january even when they known the grade of metal.

How much of the recent RNSs do you believe - if you believed them now - why not in November/December when they saying they on target - when obviously they were not.

For many - confidence slide away back in 2022 - and recent releases notes still do not provide any level of satisfaction they have control.

As for "embittered holders really do need to look at themselves", why ? Most are only getting information from GRL.

I mentioned earlier - rule of thumb for production numbers in a GRL RNS: half it then divide by 3 before minus the hypotenuse to get the real production value before trebling the time period.

I am sure all investors and non-investors (embittered or not) wish a successful outcome for this organisation.

Mr CLSKBull,

It is interesting you say they are miles apart for comparison because MCAP is 18x plus different.

In the era of GRL being at 14p - and with 450m shares = MCAP of £63m

CMCL 12months before was at 750p - and with 12m shares = MCAP of £90m

Not worlds apart - but worlds apart !!

Mr CLSKBull,

Without speaking for Mr Accomp, and without providing an example to your 100% faith in, I would say there have been activities with GRL over the last few years (detailed in the RNS) that do leave a gap in the level of faith with either the BofD/CEO or whoever is drafting RNS and also approving them for release (SPAngel).

As faith is an opinionated topic - it shall be nearly impossible to suggest a company where that is 100% agreed on.

Again, for me, it is the level of confidence in the RNS notices being issued - and I have nearly 100% confidence in the accuracy of the content in the notices issued by Mark Learmonth in Caledonia Mining than the Monopoly Chance/Community Chest cards issued by GRL. Both companies are similar - albeit CMCL are a few years (and 10's thousands ozs) ahead of GRL.

My rule of thumb for production numbers in a GRL RNS: half it then divide by 3 before minus the hypotenuse to get the real production value before trebling the time period.

Mr PaulJ8520,

I did state clearly that it was "For me ". For others - its different.

Mr Savage,

There must be someone - as it was down at 12.42p back in April 24 and it has such a small spread. I am sure you will get more positive responses as time goes by - just remember to ask the question again.

One other point - with reference to Mr CLSKBull's comment,

. ". . . I think most sentiment is price driven. As we are currently low it's doom and gloom, but if the price was on a run the sentiment would be completely different. . . ",

This may be the case for some - however as there are so few posters on here - you can review and see that most posters show signs that the GRL shareprice is undervalued and more of an opportunity - if you look back to my postings around the 14/15 January - I give reason to suggest this.

For me - the sentiment is 100% based on information in the RNS released by the company and nothing else.

Mr SonOfABoo,

Firstly -. . . the 15p or so from 2021 / 2022, . . . GRL has diluted the shares by over 100% to accommodate the poor financial structure due to GRLs inability of producing substantial gold revenue in 2022. So suggest treat 7p as the new 15p.

Your other point,. . . they'd really have to go some to **** this up. . . . please don't underestimate the talents within the boardroom of GRL. And more importantly don't appear to challenge them to such a task.

Mr HarChris, I do think the CEO maybe (or has been) out of depth - maybe lessons have been learnt - but recent RNS appear very familiar to 2022. Luckily for any shareholders - the gold price over the last few years has allowed the company survival on small production revenue - but it is seriously underperforming against even the most lowest possible targets the company can set itself.

Mr Hawaii5,

Please point out any errors anyone have stated if you think they are negative - if not then they are posting reality.

It is GRL themselves that produce the negativity with their actual progress on each RNS. Look back at 2022 to see good example.

If you disagree with the above sentence - please show evidence or suggestion of the reasoning otherwise.

Mr Corrumpo,

I like to say I agree with every word you stated - but I cannot agree on the following:

You stated ". . . 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 cannot agree with the above - I understand it to be missed by 1.6km.

Otherwise - well said.

From RNS:

November/December 2024 - RNSs state company is on way to achieving it's target production of 1000oz gold per month from January 2025 onwards (it was clear it was gold and not dore).

Understand latest numbers to March 24 2025: Gold pour = 522 + 598.9 oz dore = 1121oz dore

Assume very generously that the above production is all from 2025 (and no production from 2024 is included in the above figure - an assumption I doubt)

Taking dore as between 50% - 75% gold

Gold produced = 560oz - 840 oz Au (in 2.7 months)

Suggest production figures are realistically between: 207 - 311 oz/month

If I have missed a pour - let me know - if my dore conversion is incorrect - let me know.

MCAP is £9.2m

MCAP = approx 3 months of the stated 1000oz/month fantasy production stated by GRL on RNSs.

-things don't appear correct - when will honest Emma inform the markets.

Just wondering if there is logic behind the following:

Mr Buzz53118, your opinion earlier stated

". . . 40p is so achievable this year. . . ", that equates to MCAP over £1100m.

The company was rated at similar MCAP during the peak & hype of the FSP back in 2021 when Pd also was $2600+/oz. Now Pd is at $1000 - so Mr Buzz, would you like to evaluate the £1100m price tag this year?

As I am sure many agree - the FSP ended with all the glamour and activity of a limp lettuce party - and I suggest any further activity along such a path would bring similar results - but many here may disagree - maybe share the reasons.

General thought - based on what Mr Corrumpo stated earlier:

". . . I just think it’s naive to take whatever Emma and the board are saying as gospel. . . "

I think in 2022 the belief disappeared on each release of RNS throughout the year.

It also appears that similar is happening since Nov 24.

The sermon from GRL back last autumn - 1000oz/month from January 25 onwards.

Since then - the words utilised in RNSs include --- Remain on schedule - remain on track to deliver our stated objective of producing 1,000oz pcm from January 2025 --- production ramp up continues to advance in line with expectations and remains on target for expected production --- planned ramp up of production into 2025 --- ramp up at Homase continues at pace and we remain on track

Even in 2025 it continues : production ramp up continues to advance --- We continue to make steady progress --- continuation of the mining operations for the planned ramp up of production throughout 2025. . .

The result - "approximately 522 ounces of gold"

Please let me know - who is the person responsible for announcing what the expectations for planned production. I suggest that person may need to visit the optician to ensure they read the RNS correctly before release (as maybe they meant 500oz/month - and they have actually achieved their target) - or attend the local skool to understand the difference between 1000 and 522.

Mr SonOfABoo,

Please be aware there have been many bumps in the road which I am certain the company were well aware of from the satnav but only informed shareholders when far gone in the rear-view mirror. Suggest light reading of past ventures (planned annual production) for this entity and then make your assessment of money printing on a biblical scale:

RNS dated 04 Jan 2022 (25koz for 2022)

RNS dated 25 March 2022 (20koz for 2022)

RNS dated 30 June 2022 (14koz for 2022)

RNS dated 30 Sept 2022 (7koz for 2022)

RNS dated 30 Dec 2022 (5koz for 2022)

If you want a biblical reference - I am sure you agree - it is like something from The Book Of Judges !!

All that said - I did give a crude example of the value in the sp back on the 15 January - which I still agree with (providing GRL can do what they have not been able to do for 4 years - that is to achieve more than 30% of their target production).

Just reading my earlier post - not that clear - thats why normally talk MCAP than sp:

A 14p sp today would be the equivalent of 30p sp back in 2021 for same MCAP. And a 14p sp in 2021 would be about 7p today.

So dont expect easy quick rise to 14p - unless they start hitting seams of 300g/tonne for 50m!!

Mr Sean12345,

". . . if we are here to post oponions on war and politics your on the wrong platform. . . ",

I think you are on the right platform - as thats all that seems to get posted here - & thats why many now dont post here.

Mr Legalwolf,

Always remember - in the days of sp at 14p+ the company had just over 400m shares and talk of 24koz - 50koz annual production at AISC as low as 600$oz as stated in RNSs.

I am sure many take the words in such previous RNSs with a pinch of salt - but they are the ones probably visiting the doctor now with high blood pressure.There are such words many would use to describe such narrative from the company - but as they cannot be used in Parliament then wont use here.

GRL appear to be still at 1/2 the production they said they be at for January in statements just 2 months ago. I compare GRL production predictions to CMCL production predictions - and suggest sp recovery partially back to 2021 days (equivalent to 30p now due to dilution) will come after a year or 2 of accurate future production prediction and a mountain of reserves in the bank.

That all said - GRL is a very low MCAP-per-oz of gold (even at production 600oz/month) - and the management's possible incompetence at setting up production protected by the POG increase.