Member Info for Fr.Jack.Hackett

It is obvious to many that today's RNS is not exactly a paving to a nice future for shareholders.

In general - it indicates (and I suggest most agree):

- asset sale is not happening within the BOD hopeful time slot

- cash will run out in 3 months even if company operates (as it has been) on life support

This clarification from EUA and general agreement of the above two items has, in effect, UNIFIFED shareholders and posters on this website.

Only real solution which the COMPANY has at its control now (especially after greasing all it's shareholders with this "new" information today) is one or both of the following (one many may suggest is highly inevitable):

- dilution of shares later in February to raise monies (possibly at considerable lower SP than today due to circumstances)

- some asset sale made just to ensure company survives (not dividend paying asset sale - just for utility-bill and salary paying)

The COMPANY needs to be in a much better financial position to progress further with any major or meaningful asset sale (if there are still buyers) - otherwise any potential buyer can just let the clock tick and buy for scraps at midnight.

It does look like Mr Byrne may already be a casualty of the current operations status - but maybe its an error slip in the RNS from EUA.

Even the words they using appears to actually be void of hope:

they were Very Hopeful

they now Remain Hopeful

On news reports - if they ever say they "remain hopeful" of a good outcome - you know its not gonna be a nice ending.

Also no time-period stated now for their hope.

Only conclusion - further from sale now than back in September.

Assume the BOD added this snippet in the RNS to keep some occupied for the next 3 months - scurrying for information on the glory of Hong Kong.

Hibernation for everyone else - especially anyone associated with WK - nice long sleep.

Mr CheshireLad,

Your explanation looks good - and if it is reality - I am sure the COMPANY would use similar terminology.

Mr Auson,

Who knows ? It be nice for the BOD to let us know.

If the COMPANY is still very hopeful for sale conclusion before end of year - suggest they say they see "SOME visibility" of the sale.

As they have not stated ANYTHING - many would assume not much going on - and - suggest the COMAPNY no longer "very hopeful" for completion of sale this year - and maybe keep their investors informed and propose a later date for THEIR hope (as suggested in title) IF they still see a sale happening.

I suggest (if applicable) this happens now - cause I think SP will drop considerably if stated later.

For me - it looks like the EXPECTATION of approx 30 days of grace or ". . before end of year. . ", is enough for a 30% rise. If the COMPANY could provide 3 months of confidence I am sure lots more happy here.

RNS :

"While the Group has made progress in reaching contractual settlements and unwinding working capital, given delays in securing advance payment guarantees, it no longer expects to receive these advances before the year-end"

Also, the words " . . . made progress. . . . ", are probably not as reassuring to some as it is to others,

MCAP £115.

Mr johnychainlocker,

most media reports I search for keep on saying its cause of the fall in oil price. that's what I find a little strange.

Mr Redheadedrager,

You are 100% correct in debt. I am sure others will agree.

MCAP £111m

2 days ago MCAP £156m.

Understand FTSE Small Cap lower limit is considered around £50m - so above that.

Suggest dept (and dept alone) and not oil price is causing the increase in shorts and therefore non-confidence in share price.

Whatever - the shorters have won here this week - question is - will they win next week as well?

Significant debt at interest rates at 5/6% looks like the shorters have won the day.

Mr Seamus12,

I think all the shares were sold shortly after buying - as I suspect they were bought on behalf of addressing a few shorts.

If not - then agree they were probably sold between November 2021 and February 2022 - and that was the reasons for the 2 RNS from EUA about Dividend Policy & Reserves and Resources back in Jan/Feb 2022 to keep the suckers invested whilst EUA waved goodbye to the institutional investors.

The reason for the question is to know rather than think what happened - and I do believe EUA are obliged to answer - especially as it was information raised at AGM which they could not answer.

Mr Ibizamatrix1998,

Just read your post - all looks very factual and opinionated - however I never sensed a question so maybe the BOD do not need to consider a response.

Mr Tygra,

You are also correct - the BOD have been awarded with shares very cheaply - even though they still not confident enough to supply the finances to take all the options (see recent Options RNS).

Maybe a question to consider - stems back to the AGM - taken from the transcript:

"The question here about the shareholders who invested at 26p. I don't know the status of our current shareholder lists. Perhaps I should know, but I didn't find out before this meeting."

Question : Could the BOD now obligingly inform shareholders if the entity that invested at 26p still hold their share certificates and if not could the BOD inform when they sold. In addition - if they still hold - have they increased their holding.

Always thought it strange the transcript response - I would have thought an AIM company would show more interest when financial entities or similar invest heavily in their business - unless they sold out in quick succession.

MCAP £125m

The ones that say - no worries, its changed to very easy black run - I say maybe they a little pretentious. I suggest we now in very interesting black.

Only those with technique, ability and a lot of health insurance should follow.

Good Luck all -I think its well needed.

MCAP £146m

Challenging red !

Feck me - MCAP now £154m

Looks like the blue is turning into a red.

MCAP of £156m !

Last few weeks looks like nice blue ski run - anyone can follow.

Could there be a drag lift or (even better) cable car at the bottom to take it soaring ?

Mr Tillywhiz,

You stated earlier, ". . . We all hope for a positive outcome . . . ", which I agree.

I also acknowledge that many have different thresholds for such a positive outcome - and for many it may be an order of magnitude decuple compared to others.

Mr CyberMonkey,

I suggest if there is even a partial amount of truth to GRL ever producing 50kozpa then I would think you definitely haven't lost your LS - as the highest I think the share has been is about 14p which equates to MCAP of £70m. Even if GRL can only muster about 25kozpa in some distance future - that should at least still make an MCAP of £70m and paying 5% divs.

It all depends now on how much dilution may happen due to GRL current predicament - and the level of deceit (if any) the GRL board have masked in past future production figures.

One thing I am sure - confidence in the GRL board for many has now gone the same way as their production estimates.

Yes - and maybe probably will own 50% soon ?