Member Info for HarChris

And I believe that the gold loan agreement is open ended. Why? Well it's in AIMS interest to see GRL succeed as they own such a large amount of the company and in the meantime they collect a healthy interest and the gold they will eventually receive has gone up enormously in value. Win/win for them. Force GRL into administration and they will without doubt lose out compared to the former.

Mid 2022 GRL flagged the problems high fuel costs were causing - that was when crude oil prices were over $100 a barrel. This year that's reduced to ~$72/bbll average and is now right down to $62/bbl. This will definitely increase margins even further alongside the sky high gold price. As noted by grok:

'For small-scale gold miners, fuel costs typically represent 20% to 35% of total operating expenses. This higher range compared to larger operations stems from reliance on diesel-powered equipment like small excavators, generators, and pumps, with less access to energy-efficient technologies or economies of scale. Remote locations and fluctuating fuel prices can push costs toward the higher end.'

Bought some today. Unlike you LW I'm not going to sit here forever commentating from the sidelines, at some point you either start accumulating or move it off the watchlist - trying to second guess the absolute bottom is a mug's game.

Https://m.economictimes.com/news/international/us/gold-price-prediction-us-today-23rd-april-why-gold-dropped-to-3318-71-and-what-top-banks-expect-next-for-2025-and-beyond/amp_articleshow/120554566.cms

If you believe in the big banks’ forecasts then pullbacks and rare times of weakness should be deemed an opportunity to accumulate.

Good spot. Helios was an exceptional idea terribly executed by PW. Let’s hope they build the swimming pool.

There’s a very rich irony in calling Jason a liar repeatedly whilst blatantly lying about being a holder just to try and make your constant presence here seem more understandable.

Agreed and we should take heart that AIMS has been varying and deferring the gold loan since as long as 2020, allowing GRL to fight another day time and time again. They negotiated fairly when the gold price was down as low as $1500/oz so I imagine all will be sorted out amicably now the gold price is more than double that and they can finally start to be paid and equally benefit in the higher gold price.

And once they’ve had a good run of months at 1000 ounces they will have delivered enough to be able to comfortably cope with a much lower gold price, if that were to happen.

Key is production continuing to increase near term and the gold price staying above/around $3000/oz for at least the rest of 2025. I think we see both.

Haven’t you added the word ‘early’ despite putting it in quotation marks?

No, annual report by end of June and interims end of Sept but we are expecting a monthly update this week. Would like the rns to pop up titled 'record gold pour and update re homase mine'

I think almost all holders would understand the necessity if it was well explained by the management. See it all the time and with hindsight it is nearly always looked back upon as a sign of management astuteness more than being underhand. Especially as the board hadn't ruled out a placing or anything like that and we all knew something needed to be done about the CLN.

No jammin that’s nonsense. Any commodity going up in a near straight line is going to see some retrace, that’s all that’s happened here. It shot to almost $3500/oz and has since fallen back $175/oz which is 5%. That’s not volatile, nobody holding gold is losing money, nobody buys gold for the very first time at $3500/oz after such a move.

The uptrend over the past six months has been incredibly smooth.

‘That's not a viable option for a BOD wishing to retain credibility, and facing an AGM on 24 June 2024‘

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The cash payment was end of July, after the AGM. I’m talking about August time. Good AIM CEO’s will play the game a bit and be opportunistic when it comes to pumping (for want of a better word) followed by placings.

If you think what’s going on now is ‘retaining credibility’ then fair enough but to many it strikes as incompetence.

Back to just stating ‘summer’ rather than late summer. Like it.

The price of oil/energy is down considerably too though so THX's margin is up enormously, even factoring in the depreciation in the dollar.

‘ Payment will be in shares until then. When they did pop in a cash payment it made absolutely no difference to share price or sentiment, so why bother.’

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That’s so inaccurate. After that July payment and right through to end of August share price was trading at 70p and only begun to fall when CC stated clearly that no partnerships or deals were being lined up pre further data (ie with some p1b in hand) and that led to assuming payments would go back to shares and with it gradual share price erosion.

If they had raised last summer after that cash payment at say 60p to cover the next 4 or 5 Heights payments then with certainty we would not be stuck here at 30p today.

Oh come on, roughly a month ago gold had never ever exceeded $3000/oz, today it’s over $3300/oz.

My word it looks like fy results won’t be published and still there are buyers here.

I can understand the sell off so far today. THX's net margin has fallen from $2500/oz to a lowly $2400/oz. At current gold price we'll only be seeing $54m net income per quarter now instead of the whopping $56.25m we were starting to pencil in.

Would expect this to fall much further before we settle back at fair value.

Just to continue with this ridiculous Tesla comparison… after missing expectations by a country mile and proving its completely off the growth track now it's now up pre market…

So that $400m quarterly revs now gives a forward looking PE of 500. Yes 500! $1.6B yearly profit and $800B market cap.

Again just for illustration but it’s so totally absurd for a company with so many problems to be valued so highly whilst we, here, see a sell off after gold retraces slightly off a ridiculous all time high.