Member Info for GeologyStudent

For Matala, add 0.1p/30p to my SP targets.

Gold at $1,250/oz; copper at $2.84/lb.

The revenue generated from Mowana will probably be used to develop the deposits within Matala and Dunrobin, as well as the revenue from Matala. The acquisition of the Mowana mine is a positive development, however the failure to raise £5m at a premium due to cancellation has reduced my share price target from 75p to 54p (Q4 2017), and from 150p to ~100p (Q3 2018). In my opinion, their biggest mistake was underestimating the time required to complete the reverse acquisition, consequently leading to cancellation.

The JV with Ashanti GoldCorp wrt Kossanto East will not feature in any share price target until it reaches a revenue-generating stage (~2020). If proven to be economical, a 30k oz pa operation (most likely) will add no more than £15mill to the Mcap due to attributable equity stake stipulated by the JV terms. This translates to 18p (0.06p pre-consolidation) given the expected shares in issue after the Mowana transaction - almost negligible. The three principal assets are now: (1) Mowana mine (2) Matala Gold Project (3) JV with Randgold.

On relisting, given the dilution, I expect ~£0.54p. I expect ~£0.90-1.20 Q3 2018 upon DMS installation. The Randgold update is devoid of any great detail but the fact they are executing a RC drilling campaign can only be interpreted as a positive. Next year could be the 'company-making' year.

Is my understanding that an open offer to shareholders is permissible when a share is suspended. However, the logistics of such an operation would be prohibitively time-consuming: resulting in failure to meet the September deadline. This is outlined in the open letter to shareholders.

I'm not too sure about the supposed fruitful returns, at least not in the near term. The significant dilution that will occur via the private placing has reduced my share price target to ~0.18p using the baseline scenario (processing throughput of 1.2Mtpa). I can only envisage a share price of 0.3-0.4p upon the installation of the DMS plant which will double throughput. The DMS plant is expected to be completed by Q3 2018, by which Matala should be under construction (hopefully).

Factoring in the dilutive effect of equity raising at the suspended share price, my new share price target pre-consolidation is 0.2p. After the DMS is installed and fully functional, I expect 0.4p. In addition, I expect that Matala will add 0.1p to the share price, hence my SP target for the end of 2018 is 0.5p.

I have spoken to Dominic Doherty since the RNS. He urges all shareholders to contact St Bride for enquiries as they are responsible for investor relations. He reiterated the same statements made by Olivia, but more importantly, I believe he has the best interests of the shareholder's at heart. It's a bit difficult to believe considering our current status but I still trust him and MJ to complete the RTO.

As to whether ALO shares are suspended or cancelled is materially insignificant to shareholders. From an investors perspective, the admittance of the enlarged share capital group is the only issue of significance; with ALO shareholders holding an appropriate percentage of the group (30-40%) as previously announced. The ALO secretary should have a share registry with all shareholder names and holdings. Although MJ and Co are incompetent for allowing cancellation to occur, I still believe they are trustworthy individuals. I await the admission document. I am not going to comment any further until the aforementioned event has materialised.

to meet the expected deadline, an open offer to current shareholders in order to raise funds for RTO completion will prevent liquidation (hopefully).

'apply', but AIM permitted the initial extension. As to how the extension was gained is unknown, however. Either way, I am disappointed.

It's in the RNS.

If the board were intent on 'mugging' investors, they wouldn't have applied for a 20-day extension to the deadline which was accepted by AIM. Instead, they would have allowed the AIM to cancel the shares on the 21st June 2017 so they could transition into a private company as quick as possible.

the 'AIM Fees Calculator', the admission fee for an entity with a Mcap of £3.5mill is £8,700. Admission costs should not be an issue.

Appears as though the board may have scammed me out of my savings. Hj, what do you think?

M_wall: The operating cost is $1.50/lb, however when factoring in administrative expenses and debt repayment, AISC will be approx. $2.00/lb.

document being delayed again - now expected early July. Taking this into account, relisting should be late July.

The term 'minimum price' usually denotes a SP under which clients are not permitted to convert their notes: this does not form part of the agreement. Instead, the notes are converted at the lower of the two options set out in the RNS. As a result, I believe 'minimum price' to be an inappropriate term to use in this scenario (if thats what you meant), hence it not used in the RNS.

(1) Where is the minimum price highlighted, and where does it state the current suspended price being assigned to that effect? (2) It is my understanding that interest is payable on loan notes irrespective of whether they are converted. Hence, "The Fee Shares and the Interest Shares will be issued to the relevant parties shortly, and application will be made to the London Stock Exchange plc for the Interest Shares and the Fee Shares to be admitted to trading on AIM ("Admission") in due course. �It is expected that the aforementioned shares will be admitted to AIM on Re-Admission, when the Company's current suspension from trading is lifted". I understand paying interest may seem counter-intuitive especially considering if notes are converted immediately after re-admission.