Member Info for GreenWolf

I genuinely hope you're both right.

Hawaii - it means nothing. We've sat through enough of the X excitement / borderline ramping over the last 12months.

Without putting too fine a point on it, yesterday's RNS was a disaster.

The BoD has announced to the market that we have the potential to run out of cash and we've halved the share price in the process, so if we did need to do an emergency fundraise, we'd be looking at some stupidly low value.

It's interesting when you look at the Annual accounts again - look at the Directors' remuneration section - £560k higher in 2023 - "The highest paid director received remuneration of £300,496 (2022: £74,250)", professional legal and consultancy fees were £165k higher. Those figures in themselves are unsustainable for a business that actually loses money on its operations because it cant produce enough revenue / throughput.

We raised £1.468m nearly 14months ago to herald the dawn of a new era. It's all pretty much gone.

As shareholders, we now need to wait for the next 8weeks to see if we can survive. If that cash doesnt come via the CLN, we're royally stuffed but looking at our spend as a company, how long is it going to last anyway.

I've been here before with Edl, twice and I'm hoping third time continues to be lucky. GLA.

Hawaii - no-one is trying to talk this lower. The market has reacted exactly how the market wants to that news. I've said several times before that whatever is posted on these boards in wholly peripheral to the decisions MMs make.

I for one have been both in AIM shares and specifically here a very long time, understand our business model in some detail and have seen several previous diversification attempts go up the swanny. That's just experience talking.

I note your second paragraph and agree wholeheartedly. It's not quite what I said in my post.

The next news has to be interesting - we're c50% down today which means we need a 100% rise just to get back to where we were.

Hawaii - strategic investors may well have put £1.5m in, but what have they already made back?

We cant get hung up on what financial risk exposure we think these individuals / corporations have in shares, especially in AIM shares.

Remember these guys invested at 5p and you think over the rise up to 15p in August 2023 they haven't de-risked a penny???

A lot of AIM shares have nominee accounts....there is a reason.

It's only ever PIs that are left holding the baby.

So.....CLN RNS from May....red flag

"The proceeds of the Notes, when drawn, will be applied towards the cash element of the Potential Acquisition, should it proceed or other future acquisition opportunities, and for general working capital purposes."

We're now being told by the BoD that there is a material risk we may not be able to carry on business as a going concern.

It's looking like we've all been done up like kippers.

"There's none so blind as those who will not see" - this is classic AIM all over.

Get new guys on board, build the excitement and remember there is absolutely no visibility of any buying and selling that goes on in the background.......

We should have properly sacked Rukwa off over a year ago when we made the strategic board changes.

Can you bring me back a lump of coal please Merlin?

I'm getting my Xmas present for thd Board ready......

4.5% holding?? So you have over £200k invested here?

In reality Esquimo, it's another carp annual update. Not unexpected, mind.

I havent pulled the accounts apart (it's not yet on the website or Companies House) but admin expenses have risen nearly 40%. Costs of sales are down but we have seemingly shifted our day to day expenses into back office costs. That's probably supporting lifestyle directors......

The concrete plant up to 10k tonnes a month is nonsensical - you cannot supply concrete plants (or coal fired power stations) unless you have a guaranteed regular supply, which we don't. And hasn't the concrete plant stuff been spouted before?

And remember this - 10k tonnes a month? https://www.lse.co.uk/rns/EDL/start-of-washed-coal-production-eodrlc0h5fpi7xo.html

Rukwa is a dead duck - long term holders know that and the BoD seem content to use up heavy financial raises via share issues to bolster the bank balance, seemingly make excuses for continuing to waste time and take a nice large slice of the pie for themselves.

"As of 31 May 2024, the Company had cash balances of approximately £100,000" - this is the second time we have wasted a big seven figure capital raise earmarked for strategic transformation and we've now reverted to a CLN funding arrangement. Groundhog day?

I will keep trading here and sometime in about 2075, I might break even.

Same old.

Rukwa needs selling off and the new dawn we were promised on 1 June 2023 becoming reality.

Time here equals nothing but wasted money - shareholders money.

GLA

We will definitely get an update this week as the Annual Results are due

Experience on this share tells us Sausage that no news is rarely good news...there's still an ounce of hope in me, but it feels like groundhog day....again. GLA

Looks like we have c15m warrants expiring this week

https://www.shukaminerals.com/shareholderinformation

It is impossible to know the actual price of any buys or sells unless they are your own but I suspect that the 25k sell realised slightly more profit following the two small buys which possibly had an effect on the bid......there's something called scalping....

Well Pi, only two months to our annual results......

SP7 - there's no volume today which pretty much makes any buy / sell discussion slightly pointless.

I suspect the c107k trade yesterday was worked through during the day. I can't really see it being anything other than a sell given its quoted value (9.556p)

What we need is tangible news that isnt caught up in an alleged disagreement between our BoD and Nomad

There is a lack of volume because there is a lack of interest, because there's no update.......

Yes Pi, continued silence.

However, there is a "1" trade in there today for those who believe in RNS witchcraft.....

We desperately need some positive formal news.

GLA

SP7 - I respect your sentiments.

But burn rate figures are the facts that we currently have, including from previous annual and interim reports that cover our rainy period. The BoD dont need to wait for the Annual Results at the end of June to give us tangible updates on our finances......

If there was absolutely no interest in Rukwa they should have ditched operations last summer, offloaded associated assets and then turned us into a shell, with a bucket load of money. Given the rainy season runs pretty much October to April, it would have actually made commercial sense.

That is not what has transpired, so Rukwa remains a cash burning millstone around our financial neck. Indeed the last RNS stated "Upendo shall shortly have their representative join the board as one of six directors of the local subsidiary and there is optimism that this will assist the development and progression of the Company's prospects at Rukwa" - that doesnt support a view that they are not interested in the coal mining operation and trying to turn it around as a going concern..

I dont work on rumours or conjecture and, to be honest, what's gone on recently around X posts, potentially false RNSs etc, we need a bit more professionalism and confidence from our BoD about what are the real facts.

And, as I mentioned, the RNS from 18 March suggests Rukwa is an integral part of the future - they need to clarify that because we've never made it work since October 2017.

This has the whiff of turning into another false dawn and only the right RNS will change that.

SP7 - I'm hoping we do finally get a silver lining in the cloud....

But, as I keep saying, time is not on our side and another month is swiftly coming to an end.

And the debacle recently around possible acquisitions, rumours, Nomad intervention, removal of presentations etc doesnt actually build market confidence, as it looks unprofessional.

Whatever anyone says on here we are burning cash every single day, which diminishes our pot of gold to reinvest and diversify.

We raised c£1.5m in June last year - at £120k per month burn rate (from our interims), it's reasonably straightforward to work out what's left.

So....are one or two saying on here that the RNS is factually incorrect.....? That's FCA territory.

Hawk - you could always try our old mate Tim or Florence

https://www.investor-focus.co.uk/team/

But given we've had naff all news since September's interims, a RNS update might be nice Noel.........