Member Info for HarChris

Exactly. We’ve been waiting so long for this moment, the real start of the drilling campaign, and it’s just about to start.

Typical on AIM to throw in the towel just as things are about to actually hot up.

You look at the postcode in Ghana and the amount of gold is there and I still think, even as a totally distressed business, a junior could come in and pay 1p+ a share for this so i'm not selling mine at 0.5p.

Wasarunner, please stop trying to make me out to be some fantasist, i'm not, i'm fully aware of all that failures in the past and I feel for those sitting on huge averages or that have taken losses. The fact still remains that the gold environment has given GRL a second chance and means 'success' requires far less delivery than previously promised, especially to those like me fortunate enough to have a penny average. I'm invested less for Emma and much more for the low cost barrier to reach profitability.

Last year we were needing to see so much closer to that 1000 ounce target for cash generation to begin, now we're looking at just 400 ounces. That is enormous breathing space, that means merely 50% of target needs to be achieved to be quite healthily profitable, that's almost unheard of. There are still realistic scenarios where this multibags from here, despite the current negativity and fear around this silence and so for that reason I'll keep banging the drum and pointing that out. And if i lose the lot i'm mature enough to accept that and move on and blame no one buy myself (and management, of course!!!)

The target is based on what can be achieved following the expansion of pads and stacking of agg ore & the expected grade coming through. It's not a lie, it's a management target that they believe could be achieved, adjusted for their miscalculation in the past.

No one can deny this share price action is ugly as hell though.

Management have created and fostered this by giving us no update today, very disappointing.

Sure but unsurprisingly the rest of us are using figures given in accounts and signed off by the auditors rather than using your 'everything is a lie' approach.

I do know that their group break even according to 2023 accounts and stripping out one off costs was about $800k per month.

400 dore ounces at today's gold price is about $1.09m - so there's leeway there.

Wasarunner that's all true in the past, they were bleeding cash at 250 ounces per month x $2250/oz but that isn't true at 400 ounces per month x $3300/oz. They will have been close to cashlses as the turn of the year and yet they managed to get right through to June without any raise, that's light and day.

I agree that we need to see a bigger step change in production to be out of woods re the gold loan as well as being able to remain profitable assuming a retrace in the gold price at some point but things have been far less bleak of late than they were in mid 2024.

Yeah although that was genuine public speculation that a government policy was to have a detrimental effect on operations whereas this is half a dozen of us speculating about a possible placing on a BB for over a week now.

cj you have already shared how you have your £20k isa money at the ready for if this falls back into the 20s, it’s palpable how much you want this to retrace so you get your entry. that’s why you are repeating the message of what a **** up this, what a total embarrassment, what amateurs.

sure it’s poor of the auditors but means nothing in the grand scheme of things.

That’s wrong, the deadline for the financials & annual report to be released is 30th June, not the deadline to hold the AGM.

There will be no suspension.

Nearly 20 messages this morning over a short auditor delay, all well within the timeframe to have accounts signed off (June 30th).

Some are so desperate to see the SP fall here.

Well the silence is certainly intriguing. Are they ignoring the fear and just getting on with business or is it something more sinister?

Haha it does feel like that but we've stopped seeing a massive run up in price into news so perhaps we could be in for a bit of a (positive) surprise tomorrow?!

To be honest I’m now expecting an RNS soon (tomorrow) whatever is going on - the price action is extreme enough to warrant an explanation, a general update or to state they aren’t aware of any news to justify such a sell off.

That's true Thompi although there's also ~$4m-$5m to come from Coris sale so that could well take the runway to end of March 2026.

I still think you’re kind of proving my point LW with the disclosure of your sells too - AIM investors and traders are agile, they spot increasing selling volume and rush for the exit alongside everyone else, fearing the worst. Often times that proves to be the right decision but it also creates a self fulfilling prophesy and so in some cases there isn’t actually bad news lurking behind the scenes, it’s just hundreds of individuals assuming there’s bad news about to land because of the share price action.

At this stage v few are going to buy til we get news, no matter how low it goes.

At the end of April the share price was 1p, on May 23rd the share price closed at 0.9p. There was a lot of churn but in general the fall coincided with a lack of a monthly update in keeping with previous monthly numbers, hence many obviously assuming the worst and deciding to derisk including a poster that shared their sells on here.

The exceedingly high volume got going on Wednesday and has continued right through to today and with it the share price has cratered from 0.9p to 0.6p, so that could be related to a forward sold placing and knowledge of placing price (0.5p?). I assumed we'd have heard by now but I suppose it could still be this week.

Even if it is a small placing to cover short term working capital needs everything still rests on whether or not the higher grades start bleeding through in the coming months, and if they are do it's immediately game on again so I'm happy to stick it out for now and suck up whatever comes in the immediate term. I still think we have six months to see operational improvement.

The only major holders with access to more info than us are Paracale (Trew), AIMS & possibly Nguvu… alongside the directors of course. Unless a placing was being worked and brokers had been informed and leaked it… but so far so good on that front, it’s been a week since the sell off started and no RNS.

That means it could well be one of many holders who will have ~25m+ shares yet no insider info. As I said before I’ve spoken to three wealthy PIs that have, in their words, ‘significantly reduced’ as the price action suggested a placing was following. My guess is they’ve sold anywhere from 5m to 15m between them and none of them have any info that the public doesn’t.

For me the volume is yet to suggest that one of the major holders I mentioned above have begun dumping but it’s obviously a possibility.

If it’s you (Cosmen) don’t be shy issuing your next tr1 ;)