Member Info for Gibbo1066

Patience Faz, if you need the money now, you will lose quite a lot, but the news stream coming out over the next few months may change the whole outlook of this business. Let’s say for arguements sake we actually hit the Gorilla... 400m barrels. With say a 20% recovery rate and say $4 per barrel value... $ 320m added to our valuation and its all on shore! Goudron pays the bills, SWP is the cake and icing. So, it’s an SWP play and given the geography of the region, I’d say we have a pretty good chance of hitting something and oddly enough so does Leo and his team along with BigMJ, Schroders etc etc. Roll on 2019 and all the fun things we have in store. But, not wishing my life away, we still have 9 weeks of 2018 to enjoy, and there may be some fireworks to come...

Surely even you, LLL,can see that we are a completely different company from LGO.

Follow the money.... BOD putting half their salaries into shares, Big MJ and Schroders ploughing more money in we have a new II in Burggraben which sounds suspiciously like a fund from where the original owners of Steedrum are from. We started this journey with LK and his crew back in early 2017. They have literally knocked down and rebuilt old LGO into a solid Columbus platform. He has always said this is a 3 - 5 year plan, personally I think we will know mid next year as to which way this is going, I for one am very excited about the potential of this business. Mr Purple gets my vote, even with a bit of dilution.

...and your point is LLL? I'm all for a different viewpoint, it stop us all getting too carried away. We have acquired another company to strengthen our current standing. We have resolved the outstanding BOLT deal with much improved terms. LK and the team he has built around him have and continue to keep us informed and upto date, without a deluge of sometimes irrelevant information. We may not reach the dizzy heights of 10p by Christmas, but I would rather have my money here than in LGO., I am sure even you would agree with that.

CRND have had their mining rights rescinded ( you couldnt make this up ) and are now negotiating with the Govt to re acquire them. The issue surrounding all SA businesses is that they now have to have a full reflection of the diversity of population in both colour and gender. Whilst I can see how this would work in theory, the practice may be a little harder to implement and it looks like CRND havent done so quickly enough.

Copy of latest email:

Right now it depends on if the plant can operate without the mining right. If the answer is no, zero chance CRG can survive. The new board is still working with the government to get a tailing deposition right.

I think CRG has lots of potential even it lose its mining right. As there are lots of tailing materials around us. It is just the previous management left the Company with huge debt (about USD3-5m). And it is difficult to get substantial funding.

Not sure what else can be added to the above. It is going to take a considerable amount of time, effort and money to unlock the CRND fortune in Gold, but given the current SA working environment, its not going to be easy.

Simon

Only 3 weeks ish until we see the 6 month results, some of the recent conversations on this board will be superfluous IMHO.

IreneKrapp, I can see a low SP if we stay stationary and dont improve / add to our ever expanding portfolio. I'm not certain after having seen the recent and historical videos of Mr Purple that he is the type of man to do that, stand still. He has a vision and so far, I have bought into that vision. I am a little disappointed with the share price, but given the current figures for production, I can understand why we are where we are. The next two main 1/4 RNS's will give us a much better understanding of how we are doing and if we are on track. Good luck with your holdings.

min 200 bopd for approx $4.3m... thats 1 years worth of income at the base level, before we add our touch of Purple magic...

BigMJ... whats your take on this?

Crikey LLL, I bloody well hope not... been around this share for a number of years and hoped we had turned a corner. I cant except that Mr Purple would take on such a challenge without doing his research and then roping his mates in to help. Taking 50% salary a shares is another positive approach for investors along with stating publicly that no new placings are required and if they are, they will be acreative. So on balance, I hope we are still heading in the right direction. We are in a much better place than we were 18 months ago thats for sure, and we have Schroders as a cornerstone investor, you couldn't have said that under the old regime. Still only time will tell... Remember whereabouts in the world we sit and the acreage we have to play with... its not a sure thing, but its pretty damn close. In the immortal words of David Davis..'I could be wrong'...

Although 0700 is the preferred time, RNS's can be released at any time during the day... we have 48 hours until the AGM so I guess sometime between now and then. Exciting isnt it! We are on the cusp of something extraordinary... I hope!

Some slighty better news - we are making approx 2.1kgs of gold per week and yes, it is sent out by Helicopter. The details from the concentrator unit wont be ready for a few months yet, but the signs are encouraging. We are still losing money & require 3kgs per week to break even... the target for this concentrator is 6kgs per week, and if it works, it will be the first of many concentrator units purchased. We still have a long way to go and I am not scheduled to talk to anyone for another 2 months. DYOR. Simon

Fair point Ross, we will have a good indication of where we are in the not too distant future.

Unless I am completely mistaken... CF+ since December, circa 600bopd equates to turnover - $14m. Improved terms on existing deals, new deals in pipeline. Drilling to commence in 2019 into the worlds largest oil deposit ( circa 300billion barrels of proven reserves ). I agree there are a number of issues we have yet to overcome, but so much potential and relatively cheap to exploit. I wouldn't bet against a few of the majors circling if just one of our drills in 2019 comes to fruition, even at the low estimates... just my opinion though.

Cant remember what the target for the top 10 is and to be fair its just a bit of fun. I'm adding monthly at approx £1000 per month. I'd like to be at 1.5m by xmas were i will pause for more concrete news / figures which we should have early 2019.

upto 1.35m shares

too late Rossannan... legacy of LGO days and got a bit carried away. Its not quite the farm, but its enough to go OUCH if it doesnt work out. Still I have a low breakeven point and an early teens exit strategy, leaving enough to make a difference if we do go onto become a £0.5b company. We will all know roughly where we are heading by the end of this year.

Interestingly they have been at pains to convey the non-dilutive or acceative value of the deals they are looking to do. Whilst I dont like the dips below 5p, I am buying more to lower my average and aiming to get into the top 10 on shareholders list, I am not concerned and am looking forward to July's update. As long as we are adding to our BOPD, even at a slow rate, the oil price is almost 50% above the CF+ with all the work costs factored in for this year, we must be heading for $ 15m turnover. Even if we end up with the lower end of the forecast given by Mr Purple, we are in a tremendous position when compared to the debacle of 2015 / 16 and early 17. Remember we are 1 year into the 5 year plan and as far as I can see all is going according to that plan. DYOR

Hello Gary / Garnet and anyone else who has asked for email correspondence. I had a long chat to a person on influence at CRND last week and I have chosen not to share our emails for my own security. I can however give you a brief outline of how I see our position. Concentrator up and running. A number of major issues with the cabling etc, but it is working and they are producing Gold with it.We will have a better understanding of how efficient it is in 2 / 3 months. We are still running at a loss, but this will be overturned as soon as the Concentrator is running at full speed, however we now have a few external hurdles to overcome. Sourcing good quality Tailings over and above the current load. Resolving supplier disputes / payments Resolving PUNO - still a thorn in our sides Resolving waste material issues We are not out of the woods, we still have a long way to go, but if we can catch a bit of good fortune, we may yet see a return on our investment, but not for a few years. I have put my shares in the bottom drawer, but will continue my correspondence with CRND and am happy to update anyone who wants to read my comments on here. We are all free to make contact with CRND, all the details of how to do this are on their website. They are my personal comments and do not constitute any indirect correspondence from CRND. Cheers Simon

Not long now until we will find out if we have lost all the money we put into CRND or if there is a glimmer of hope and we may see some if not all of it returned... obviously depending upon your price entry point.