Member Info for Fr.Jack.Hackett

Mr ID78,

It becomes logical the grade is not there - and possible the JORC data is as fictional as Star Wars, Superman or 1000oz Au a month from January 2025.

" . . I thought that the management had taken steps to improve the gold pours; . . ", they have - they increased production by 20 - 30 % by referring to Dore ounces rather than ounces of Au. They also had another 10% increase in production when they started quoting in ounces instead of Troy ounces.

That's nearly 33% increase in production (or nearly 50% increase to the nearest 50%).

Mr Banjomick,

Without correcting you - as you never stated anything incorrect - but would suggest re-consider towards posters positions:

" . . .which had previously been made a major negative posting activity by a few spewing out it would be end of GRL ect ect . . .", the default position was that GRL has loan security on the Homase mine asset - and therefore correct consideration for any shareowner is the default position - of losing this asset (as the MCAP for GRL on the approach to the date was 1/3 of the loan value). I suggest shareholders should be grateful to AIMs for allowing this entity to remain in a position where it can still mine gold for at least 6 months (but who knows at what cost - as GRL have not provided any operational feedback or even if they are still operating the mine since late September).

also

". . I'd expect an update by the end of this month. . .", some posters are a little more ambitious for an update - especially considering the failed production targets. May I ask if you be getting very annoyed by February without an update?

My thoughts - if GRL was planning to give a production update to SH - it would have happened in December along with some waffle (to be believe or not) about 2026 production figures. As they never - I suspect the only update shall be the mandatory LSE AIM requirements - which I understand next is a statement for 2025 year end. Maybe an event takes place that forces them to make an earlier production statement - such as possible cash raise - as they have stated they need capital (assume to advance in production output).

Overall - the quicker SH hear about any further cash investment in production - the more time in 2026 they have to increase production to pay back this farcical gold-loan. But I am sure - any further raise or loan - shall require EP to be a long way from controlling the till (maybe still with GRL - but not a name on the RNS).

Mr Beast,

A valuation is not a sales price. I think you know that. Here endeth the lesson.

Mr Chess and Mr Treading,

Please note, the sales price for WK was not declared (purposely) in the RNS. There is no evidence that any organisation shall be departing with US$200m for WK.

I would be surprised if it is even more than US$15m that shall leave their pocketses. I don't know what was stated in meeting with CS yesterday - but its the RNS that this information needs to be clear - and as it is not.

CS has always been smoke/mirrors when he requires the gullible to believe something that is not true.

I mentioned this in my post yesterday morning an hour or so before trading.

Good RNS - but it is still missing production figures (let EP off for now).

A few points of note:

Normally in an RNS for such a sale process - the amount offered is normally within the first paragraph of the RNS. EUA have gone to extreme measures to give the first indication on the 7th paragraph of the announcement. I do not think EUA actually stated the sale price in the RNS and only state the amount EUA will receive in the notes section (some 20+ paragraphs later).

- For clarity - the US$251m they waffle about - is not the sale price - it is a valuation that EUA came up with through their competitive selling process - well done UBS bank and that director - Mr Tamerlan!! It would be nice however to know the actual sale price (the amount of readies an individual or organisation shall be giving to buy this mine).

- Sorry to drag this up - but ACF had WK valued at US$33m - and that was when it was revenue generating (their words not mine) - now it is loss making!!

For whoever wants - if you apply the 5% rule (95% discount):

- applied to NKT = US$1.7b = US$85m = £63m; applied to Monchetundra Lo + WN = £192m* = £9.6m; already applied to WK = US$9m = £6.75m

MCAP worth the sum of the parts: 63 + 9.6 + 6.75 = £80m. Suggests an opening price today of about 2.3p (if this rule is to be believed)

*from the wonderful ACF report

Unfortunately - with such a long RNS supplying so little information on the actual sale price and the urgency (meearse) for CS to respond to SH questions - I suggest there are many smoking mirrors in place being used by CS in the wording. I wish a successful outcome.

Joke of the day:

". . . an investor webinar is scheduled for Tuesday, 30 December 2025 at 3:00 p.m. to address all questions and concerns of the shareholders. . . ",

all questions and concerns - again meearse.

Using the guidance data for 2026 (provided in RNS dated 14-Oct-2025) - with a suggested dividend between 15 - 20 % EPS, then if metal prices hold current levels, my CRAY supercomputer calculates dividends of between 6-9p/share.

It also appears the company MCAP is equivalent to 3-years FCF. P/E ratio of 3 !!

Mr Penny,

Suggest you review the historic price for Rhodium you are quoting.

Hr Hawaii - not disputing anything you said - (noting that not agreeing is my prerogative) only item I would like to respond is - do you really believe the quote below - as you can see historic buy/sales. Is it really your opinion for the of GRL?

" . . to try to make weak holders sell. . "

Mr Hawaii,

I would like to think if any of this is going on - the company would request a suspension. Only my initial thought - any your suggestion as valid.

- Silence keeps EP in payroll - remember that.

Mr ID78,

I think GRL have the same problem I had at skool - poor grades.

EP keeps saying she'll get an updated reserves/resources issued - but I suspect it will show a declined - and possible a drop of reserves back into resources - even at this Au price. Grades - that's what all the accountants and solicitors have - good grades.

My favorite phrase from the quote: " I look forward to updating shareholders. . .".

It is noticeable - she mentions "momentum through the remainder of 2025.", but no mention of 2026 !!

I asked Mr Intelligence from Google the following:

- has a gold pour happened in the homase mine in November 2025 ?

His/Her/Its response: Yes, multiple gold pours occurred at the Homase mine in November 2025 as part of ongoing, continuous production. The mine has been in commercial production since its first gold pour in late 2021.

Seems rather sure on him/her/its self.

Suggest GRL BOD happy to lose the goldloan along with the homase mine.

Mr Munnyman,

### 2 - I proposed sometime ago for AIMS to agree a smelter rolyality % to offset the goldloan. It never got much of a hit on here - but I think it would have a few benefits including: removing the loan of the books and keep the mine functioning - & possibly allow GRL to obtain external funding (from banks) to expand production if they are in profit.

Please note - ### 3 - the default is not insolvency - the goldloan is on the Homase mine. If default - then the goldloan and Homase mine disappear from the books of GRL. GRL then may find a ways of starting the palava again (raising money - taking gold loans - taping SH - lying their arseoff in RNS) and develop the Ashanti mine. I am sure AIMS will be keen to propose another goldloan to Emma.

I am sure any capital to be raised would have one condition - EP is not involved anyway at financial decisions.

Please note - GRL need to have shareholders consent for the issue of substantial amount of shares (50%) - Special Resolution 7. This is tooooo late for 2025.

"The Company notes that it is in ongoing discussions with potential funding partners and, to the extent needed, will convene a further General Meeting in due course to allow shareholders to vote on increasing the Board's share issuance authorities. ", This isn't gonna happen n 2025!!

Mr Trisor,

It appears that the person who likes 5591 is selling in batches of £20k. I am certain if you meet the individual in question - they would prefer a lower figure during their selling !! However - their selling has now increased the required number to 5592 !!

I calculate today is the day for RNS if any vote from SH is required if the company is fighting.

Maybe things are done & dusted - Homase is handed over to AIMS - no SH approval is required for this as it is a legal contract.

Wasarunner:

" . .>1000 oz target was a hard lie (I still err on the side of believing Emma thought she could achieve it ..",

You standby that thought when the CEO Emma stated on 9 Dec 2024: ". . to deliver our stated objective of producing 1,000oz pcm from January 2025.. ."., You err on the side that SHE believed it ??

Evidence of the COMPANY status was visible when they were rolling over re-payments into shares.

AIMS are now happy - they have (from the 1st Jan 26) a fully developed mine that probably is now profitable without additional cash input - so very little risk.

Mr ConMan,

You suggest it's like a casino and you got your chips on red - I am sure many will still be buying if this is the case.

I suggest to many it feels like you're in the casino and you've got your money on the green - but with significant less returns on a success