Member Info for GeologyStudent

Thanks. The date agreed for the RTO was 30th September, however ZCI will extend the deadline if necessary as stated in the letter to shareholders. One delay after another.

Thank you for contacting them. Did they reveal when funding will be complete or any other information regarding the timeline?

who knows?

I read that under 'on going concern' (also) but you have to bear in mind that the report was written on 22nd August therefore nearly four weeks old. The letter to shareholders asserts that the accounts will be published once the private placement is complete.

The annual report was finalised on the 22nd August 2017. The open letter to shareholders states that the accounts will be published upon completion of the private placing. As the accounts have been published, one can deduce that ALO have successfully raised the capital required to complete the acquisition of the mine.

Given the current copper price, I believe Ismalia's target range of 80-100p is achievable; with a greater likelihood of reaching the lower end. The upper end of the estimate will probably be reached upon a copper price $3.25/lb. All speculation. Who knows.

The renaming is stated at the end of the article. When Kevin states 'unsuccessful', I believe he's implying that the RTO wasn't completed in the six month timeframe.

We will be called Cradle Arc Mining and will be dual-listed on the Botswana and London Stock Exchange: http://www.mmegi.bw/index.php?aid=71128&dir=2017/august/22

Upon successful completion of the DMS plant and a prevailing copper price of $3.50/lb, ALO could be worth £200mill in Q3/Q4 2018.

http://www.sundaystandard.info/mowana-mine-new-operators-reports-“break-even-point”

The accounts will be published with the admission document in Sept/Oct.

A public limited company (plc) can be listed or unlisted on a stock exchange. The fact that ALO have delisted does not affect the plc status of the company, hence liable to pay the penalty fees normally incurred by public companies.

£1,500 figure is relevant to public listed companies, however I'm not sure if it's applicable if shares have been delisted.

They are required to publish accounts within 9 months after the financial year: https://www.gov.uk/prepare-file-annual-accounts-for-limited-company. The penalties can be found on a link within the site.

The estimate is dependant on a number of variables (ie. price of conversion + placing price) but I expect 22-24billion shares.

Resultant shares in issue, including the private placement and convertible shares, will be approx. 24billion/80mill post-consolidation.

acquired the Matala project for an aggregate consideration of £1.54mill. The project has a JORC Measured, Indicated and Inferred resource of 750,000 oz. Ashanti has acquired Kossanto East (250,000 oz JORC inferred) for £0.6mill.

I forgot about that. The deal that was agreed before was a favourable one for ALO. They sold the asset for what it's currently worth, considering it only has an inferred resource of 250k oz. It appears they needed the cash.

As far as I'm aware, selling an asset at $4/oz in the current market conditions is reasonable. The Kossanto East project has an inferred resource of 250k oz. If I recall correctly, MJ said the tenement could potentially have 750k oz if you included satellite deposits. It was a promising asset but the incoming dilution from the Mowana transaction would have dampened any significant rise in SP upon Kossanto East production. We have the 100% owned Matala Gold project which has 2x resources with significant exploration potential.

Their operational focus is now in southern Africa, specifically Botswana and Zambia. As I stated before, according to the previous agreement, we had a 35% interest in a relatively small gold deposit (Kossanto East), which if developed, would only have a negligible effect on the SP. A shrewd decision by the BoD.