Member Info for Gallmat

The Company continued discussions with various potential lenders and it has structured an instrument for raising convertible debt of up to £6,000,000 for meeting its working capital and investment needs for ramping up production and sales at its Madagascar projects.

From unaudited results. Written in black and white ( hidden at end!!).

They dont need a couple of 40ft containers at 25pct premium. They need capex for concentration units and the money for working capital to produce output.

They shouls nevwr have purchases new projects

That took all the caah out of the business and then they cannot ramp.

Or they shouls have done a convertible at higher price post completion of aquisition.

How are you going to generate 6m gbp organically, can do but it takes time and luck with pricing!

Https://www.investormeetcompany.com/

No problem

Register for free and select the company. Check out recent meeting. Goto q and a sections. Where people ask about non dilutive financing.

You will find it.

After this have a look at resent results rns's. Do search for word convertible.

Happy to help

And i am talking about the ceo!

I did 4 times.

Reasuring me of no raise until it popped out in rns!.

Foul play could include

Stating no placing multiple times. Then doing one

Doing one on one calls to assure investors while knowing you have severe cashflow issues.

Trying to get a convertible done while stating no dilution planned.

Feel free to go by the headlines. But they have told you they need capex to get production up. You might get lucky and graphite prices spike but sadly this is not a case of just increasing output

The absense of update tells you what you need to know.

If they had good news they would have put in rns, instead the put out 3 fluff RNS.

They are going to miss target i suspect

The board is hiding from shareholders. Until they man up an explain their actions in detail. Impossible to buy.

Huge overhang now because nobody trusts them

In the last interview when asked about 1500 the lady just deflected. Even if you breakeven you are stuck.because you need concentration units to get higher output.

Bite the bullet and try and find a strategic offtaker, which is the approach every other company has taken

Because shard were hired to do the convertible. It was in the results

Probably they put effort into it, company would not adjust the pricing so they walked.

This is same thing. Trying to find new shareholders.

Problem is ceo has never hit a target so people dont want to give cash!.

When i say key focus. Odviously india 1st, but how to have business arranged to minimise dilution is very high on the list.

When we discuss. Avoiding dilution is his key focus.

Even raising 1m usd for operational expenses is 10pct of market cap. If award is 500m usd.

We just gave away 50m usd for 1m usd

Seems like a nice base put in, also the broker did not go above 38k a day on sell off.

Think we have good support now

Review it

1. Vague rns on market

2. Detail of high grade product but small volume

3. New ned makes tiny purchase

The we appoint broker when short of cash. Last time we did this it was to attempt convertable.

Signs are there. Just remember, review past videos and watch ceo almost laugh he would not do dilutive equity placing and then do it.

Do you know the history.

Sashir did around 4 interviews saying no equity dilution.

1. Appointed broker

2. Released in results in back pages details of huge potential convertible issue ( by mistake). Then played off that is not equity dilution it is convertible

3. Then broker quit

4. Then did equity raise.

The ceo said no equity raise until blue in face and did one, while trying to line up a broker to do convertible at better rate

Sorry if my opinion came across too strong.

Having spoken to ceo i think the dilution is really at forefront of his mind. And i agree he is quite experienced in finance ( if you check his bio).

Good that you keep me thoughts in check. Only death is 100pct certain!

I am 100pct against additional spending in africa unless we split african assets and indian assets.

The dilution is too intense. 10pct dilution for say 2 m usd. Could cost 100m usd implied on court case at end.

There is no way you get invest 2m usd in mining and make 30m usd, let alone 100m.

The mining assets have value but they need to be segregated.

I think the ceo knows the return on investment from the court case cannot be matched by traditional mining investing in drilling.

If the new broker attracts investors i would be very happy. It just allows them to move on.

But normally they place at a discount so might as well wait and see.

I read rns correctly.

It is similar to last appointment. For broker who tried to issue and converible and then resigned in a matter of months when it was not executed.

Each to their own. Wishing everyone luck.

I will monitor and happily enter if they do raise the money.

I am only interested once they prove they can get cash

I mainly asked about the deposit. It is higher than quoted 6.7 as more drilling made it to 7.2m oz.

Additionally it is open at depth.

From what i gather could easily be 10m oz, so very economic.

I think the ceo understands the cost of dilution and it is very important to minimise it.

My personal view ( not from call) is we will need more capital to keep the lights on. But there is not a desire to run up unnecessary expenses.

I avoided anything price sensitive.

As i said.

Appointing joint broker so looking to raise equity or convertible.

Same when they did last time, and they noted convertible in accounts. The convertible raise failed and the last broker resigned.

This was reason for so many rns