Member Info for GeologyStudent

say the resignation of Michael Golding is disconcerting. He was the only member of the board that was credible and had an excellent history of securing financing for projects. In fact, he was bought onboard with the objective of assisting in the refinancing of debt in the future, due to his extensive network of contacts.

If you've been here as long as I, those 250k shares you bought for £2,500 would have been worth £750,000 in 2014. Puts it into context.

There is a significant arbitrage opportunity available for new investors. Unfortunately, investors who held this stock prior to the acquisition of the mine have been left with a big pile of turd, with most of us having averages of 20p+.

There is a significant arbitrage opportunity available for new investors. Unfortunately, investors who held this stock prior to the acquisition of the mine have been left with a big pile of turd, with most of us having averages of 20p+.

With the additional 50mill warrants yet to be exercised and possible loan note conversion, I expect 450mill shares in issue. Contingent on fixing plant issues, we should be at 9p in Q1 2018 at $2.80/lb, and 18p in Q2 2020 at $2.80/lb. An absolute disgrace considering that the delisting price was 20p. The only people that will benefit are new shareholders, shareholders who have the ability to average down and ultimately our CEO whose shareholding will be worth approx. £20mill in 2020. Good work considering he never actually invested any of his personal funds.

The BoD have failed to deliver on their objectives since IPO. Today, we have a situation where CRA have been forced to raise additional capital at a 91% reduction from the IPO price, presumably for working capital purposes. However, I do believe this will turn around but in the process of doing so, we will be diluted into oblivion. This will occur to such an extent that the management team will no longer be eligible for incentive shares. As for our CEO's shareholding, he never purchased the shares. He was effectively gifted them as part of the acquisition.

With the processing facilities in its current form, I expect a £40mill Mcap company @ $2.80/lb, or roughly 10p now given impending dilution. I expect this to occur in the early part of next year. With the implementation of the DMS in 2020, this should stand at £80mill, or roughly 20p.

Thanks.

Would appreciate link to podcast.

I'm stating observations and forming inferences. As alluded to, Jamie has sold out entirely, however, there is still a seller at play - someone with a substantial holding. As well as Hadron Capital, it could be placing participants or debt holders. It is rather disconcerting that large holders are divesting at this crucial stage. Further, this share is still a bundle of risk until rehabilitation has been completed, and upon successful rehabilitation, I see a £40mill Mcap company @ $2.80/lb in Q1 2019. My valuation is predicated on the multiples approach. In addition, considering the poor production level in September - which was at 20% of nameplate capacity - I suspect CRA now has a precariously low cash position. Also, I do not appreciate the 'spin' put forward by CRA with respect to alleged superior production in Q3 relative to Q2, considering CRA was only operational for two months in Q2. I always attempt to maintain a logical stance with every post and I would prefer not to label my posts as bullish or bearish.

City Financial divested their entire holding on the 2nd Oct, which was shortly followed by Jamie Phillip. We have a new seller. The only holders that have the capacity to sell in those chunks are the new Leichtenstein fund and Hadron Capital. Typically, institutional investors jumping ship is a bad signal to the market. Expect a holdings RNS soon.

will require an initial $5mill debt funding to purchase a DMS with basic configuration if they plan to increase output to 20ktpa and achieve the 20p+ level. As it stands, they have the means to reach 12p early next year.

shares in issue, and assuming management fix production problems, this will be at 12p in Q1 2019 and 24p in Q2 2020 @ $2.80/lb. There is additional upside if the Matala Gold project can be brought into commercial production.

Who is your source?

Unfortunately, these teething issues could not be identified during the trial phase but only during the ramp-up phase. In fact, during the first month of ramp-up, the plant ran smoothly at 80% of nameplate. Thereafter, we have endured a few months of poor performance. With rehabilitation commencing, we should be on track again.

sell order filled for 5mill shares. Responsible for the drop.

I'm not a trained mining engineer though. You're expertise may be far superior to mine. I just look at rocks and numbers.

I'm refering to the section where it states 'coming weeks' in the RNS. I've seen cases where rehabilitation has taken three months, however, given the phrasing, I think two months should be sufficient.

I expect rehabilitation to take no more than a couple of months. We should be all set and ready to reach nameplate by Q1 2019. Dilution is expected via CLN, and if on average, the CLN are converted at 2p, we should be at 12p in Q1 2019.

1 and 2mill sells yesterday. Think they totalled 5mill but I may be wrong. Means he sold half his holding.