Member Info for Glib

Latest RNS: Whilst excavation and processing operations have stabilised at an operational level, the financial position of the Company nevertheless remains extremely serious. The Company carries significant debt and has a number of creditors. The directors are actively pursuing financing opportunities for the Company and are in discussions with a number of parties about those opportunities. Any such financing, if forthcoming, would be likely to be significantly dilutive to shareholders and may also involve the Company disposing of all or of a significant part of its operations to a third party better able to provide the capital required to provide a meaningful return from those operations, which are proving very difficult to achieve under the Company's current capital structure. In May the RNS stated: The Company's cash position remains extremely challenging, and whilst the directors of the Company ("Directors") continue to make every effort to secure financing solutions, no guarantee can be made that these negotiations will be concluded successfully. The Directors are therefore considering a number of solutions, which include the sale of the Company's operating assets. As a consequence, further to the announcement of 11 May 2017 the Company's shares will remain suspended for the time being pending further developments. It looks like things have not changed much since the suspension. Financial position remains extremely serious / challenging. Financing may involve the sale of the company assets / involve the company disposing of all or a significant part of its operations. As we have been provided with very little data we don't even know if the tolling works was just keeping the lights on. So we are either looking at a sale of our assets and the money hopefully paying off our debts with something left for PI's; a partial sell off with us retaining a small free carry; financing from a 3rd party that may be dilutive; a takeover? Probably not if we have lots of debt. Looks like our hopes are still on the concentrator circuit to make a difference to the bottom line, but how much of a difference is needed?

All I see now are red flags. Why would ThaniStratex be worried about Stratex investing its money elsewhere if they are intending to do an IPO? David Hall is CEO and Paul Foord is CFO of ThaniStratex. Are they wanting to make sure we only invest our money with them?

Ah, good to know. Thanks. I recall being a bit miffed that they may have been let off the hook - even a little.

I would guess that PUNO have even less money than CRND. Just a guess mind; happy to be proven wrong. I think there was also mention in one of the RNS' (after the ruling) that each party would be responsible for their own legal costs.

4 engineers coming in from China? At least there seems to be some movement now. Just how much debt do we have? Would we be able to negotiate a free carry if we had to sell? I thought we were using the proceeds from the tailings to pay down our debt - maybe it is just the interest. Hoping for some clarity with the report to see what has been going on.

I think that may have been when there was a power outage at the plant? Can't remember when that was - may have been around December when the table just said unknown for days.

The company was going to start looking at underground mining when 185mbs was reached but we don't know what level they were waiting for before beginning. The ECL is at 255mbs so this may not reflect well on the governments water or environmental departments. I couldn't figure out how we were pumping about the same volume as last year and reducing so quickly while the rainfall was about the same. The test will be the rainy season which is just beginning. I still say we are undervalued but can only base that on second rate information until we hear from the company and see some figures.

Before: Http://crg-sa.com/wp-content/uploads/2016/06/TCTA-Central-Basin-Schedule-2017-Aug2.pdf After: Http://crg-sa.com/wp-content/uploads/2016/06/TCTA-Central-Basin-Schedule-2017-Sep.pdf The data on the left is identical. They have removed and restarted the other columns to a later date.

No idea what has been going on at the pumping plant, but we have lost about 3 months worth of progress. We were at this level mid June (supposedly). It is not even a case of the plant not operating for a week - 205m on 21st August, plant is working as usual until 31 August, but 1 day later on 1st September CMR average water level is 165m??? My estimate of target price was based on the Market Cap of the company - without taking account of the underground asset. Not the end of the world, but definitely enough uncertainty to make investors let alone buyers nervous. Hopefully they are putting the finishing touches to the report and can give an explanation on the water levels as CRND have remained shtum on that for quite some time.

Makes you wonder who this group of shareholders are and if the request for an EGM is invalid, then how many are in this group and is their holding significant enough or not for something like this to happen? If we did pull out then we would need to pay Crusader the penalty fee, so what are the shareholders looking to achieve in the long term? Or is this just a reaction to not liking Crusader and they have no future plans?

No worries TC - I had taken your comments as intended. I'm more than happy for the Market Cap to go to £40M. The figure from 2014 was with underground mining restricted as it would currently be but they also had the PUNO case hanging over them. We are in a better position now with the exception of cashflow (that we know of). Plenty of positives to look forward to and the BOD seem to have been fighting hard to get us through the last year or so.

Any idea how long they have been selling machines? If it is 7 or more years then what they say is probably accurate. AVO are not yet selling on the market. They are not yet accelerating a proton to 230Mev. The beam will not be fired through the first CCL until Q2 2018 and there are 10 CCL modules required to get the beam up to speed. (Expected by early 2019) The imaging software has still to be completed I believe and not sure about the proton source. Regulation and trials may take longer than anticipated although first patient potentially being treated in late 2020. So what they have said is what AVO have predicted. We are still years from a finished prototype but Thales having a production line for us may make it easier to scale up when everything is ready.

Happy to stand corrected on that TC, but I was using data from the London Stock Exchange. Http://www.londonstockexchange.com/statistics/historic/company-files/company-files.htm It may have been 40p on a specific day, but the data I used seems have been at the end of the month. The market capitalisation data should read £ not $. It is just the cash position that was $. One thing to note about my SP estimate - this does not include the underground mining. If that was to restart and the concentrator could increase that yield by 300%, then it is a very different story. I do not think underground mining will restart until after the concentrator circuit has been trialed and the water level is shown to be sustainable during the rainy season. The concentrator in lab trials indicated that the waste dump material with average gold grade of 0.7g/t could be upgraded to between 2.5g/t - 5g/t. Not sure if this means that the underground grades would be increased by this factor, but the SP will take off if that is the case.

Nope, but wish I had. I should have jumped ship here, but have watched the SP slide instead. I thought the reverse takeover and potential Thani IPO would have generated a bit more interest, but it looks like quite a few got tired of waiting around for the company to produce anything positive. Mid term holding now but we will need news soon - at least we have money in the bank though. You'll need to give us a few tips on how to make money Goldman - I'm having no luck with any of my gold shares.

That's a tough one as we have no facts to speculate on growth or earnings. If the debt has been reduced and the concentrator circuit is effective then although we are not doing any underground mining, we do have the tolling agreements and have bought material ourselves to process. I believe the market capitalisation could be a little under what it was after the MOU's were withdrawn and before the Bergen financing was announced. Lets say £2.5M. Currently there are 239,833,285 shares so a unit price by the end of the year of 1p ? I would like to suggest it will be higher, but there was a reason we suspended in May - we are struggling with cashflow. If the situation has improved then I would upgrade that estimate. Longer term if we get through the rainy season without going back under water then this should rerate as long as funds continue to be available. I am hoping that the concentrator circuit will do that for us. In July 2014 the water level was 165mbs so we have already passed this level and the MOU's started a few months later in November. The company had limited mining operations to 100-160mbs and had net cash of $4.39M - the market cap was around $7.5M. The MOU announcement pushed this to $14M initially before falling back to around $11M. My target if all goes well would be 3p in the next 2 years as we have the water level reducing and the extra tolling material to put through the concentrator. I would still not be at break even, but if the water level continued to drop and we stabilised the company, then I would imagine the SP would continue to rise.

Unfortunately not early enough. Once I heard they were going with Bracknor I baled - I have had 2 other shares that went with death spiral financing. Sold out at 25p only to see the SP gradually increase in the next few weeks. I was certain it would fall back below that after the amount of shares in issue started to climb, but disappointed I got bitter with the BOD and just reacted. I believe the next milestone will be the completion of the SCDTL test to full power at the end of the year. I hope you hear about the long term financing before then and wish all holders well. It is promising that the current level is being sustained so market sentiment has not left yet.

I'm no longer invested here but keeping an eye on this share. As no one else is speaking to Ian, I'll give my tuppence worth. Fixing the long term financing will be important, but that will not make them a viable business. There are plenty of businesses going nowhere that have financial support. For me, it will be all about the product and when they get regulatory approval. We have been told that the individual components have been tested but we need confirmation that the finished product will deliver. I believe that the transformational news will be the confirmation that the accelerators can create a beam energy of 230MeV. We have been informed that the RFQ has successfully accelerated the proton beam from 4keV to 5MeV. Also all the CCL modules have been delivered to Geneva for testing now. The SCDTL has been tested at high power but it is not clear exactly what level was used - I do not think we have had confirmation that the beam can be accelerated to 20-25MeV yet. The beam will go from the proton source, through the RFQ and then through the SCDTL. We are close to that stage I believe but the beam is expected to be fired through the first CCL at the end of Q2 2018. As the system is modular then sales may begin at this stage but I believe multiple CCL modules must be shown to work to provide proof that companies can buy the system and upgrade as funding becomes available - otherwise only superficial tumors can be treated and other products may be seen as either more desirable or they meet the demand for stronger therapies. It is also unclear if a machine will be available for clinical tests and regulatory compliance checks. If not then it may be that orders are made in the same way Sinophi did, but any money would not be available for use and would need to be ring fenced. After 3 CCL modules the beam should be 70MeV. After 6 it will be 150MeV and with all 10 the beam strength should be the 230MeV target. The various confirmations of the CCL modules meeting the expected speeds should make the product more appealing and sales will undoubtedly be generated from this as more units and additional CCL modules can be sold based on individual requirements. I think after the 50-70MeV level is reached then the company may be secure if it is generating enough income to fund the further testing and research required. If all goes well then perhaps by 2021 if the regulatory bodies give the all clear. Money will remain a long term issue if they do not intend to seek regulatory approval for the weaker units. Waiting until the 230MeV target is met will probably mean at least another full year without income which could seriously jeopardise casflow, finance and sentiment.

I believe the clean production of hydrogen has been a technical hurdle that has never quite been overcome and this has held back the fuel cell market too. That may change thanks to a new process for "a rapid and spontaneous hydrolysis of water" that doesn't require a catalyst. The US army have created an aluminium based nanomaterial powder that can quickly produce hydrogen and a large amount of energy. Http://www.arl.army.mil/www/default.cfm?article=3036 If this becomes viable it could be a real boon to the hydrogen and fuel cell industry. Just not sure how it compares with what is already out there.

I guess the SP when we begin trading again will be based mainly on the results of what we have produced in the last year and what we have spent our money on. How much have we reduced our debts by and does this make us a more attractive takeover prospect? If no takeover, what are the companies prospects? We would need to do projections based on income expenditure and how much cashflow there is. Also costings to restart underground mining but I think this may be put off until there is certainty about the sustainability of the water level. We can focus until then on how the concentrator circuit is performing and any impact this will have on our valuation and earnings.

The water level will be that of the Central Basin. It is the environmental critical limit (ECL)