Member Info for HarChris

They would have announced it if they were making tidy profit. The full year results focused on the money that needed to be raised, not any post period profit.

‘I change my view on whether I think the SP will rise or fall based on the technicals and new info released.’

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You change your position based on the technicals and then you subtly change your narrative based on that position, that’s not the same.

They did a placing… in late June. Enough money to fund current operations to profitability in this tin environment.

We’re not there yet til the jog is commissioned and production dramatically increases but we should be soon.

With gold going higher and higher I’ll probably hold on longer as it gives GRL that much more of a chance of renegotiating the loan/restructuring. This bull run really is something.

Not me if that’s what you mean… I said I’d sell the rest of my shares at around .45p and then someone else described me as the big seller - I wish! Only a very small holding left for me.

Yeah / they realise you have f***** up to such a degree that you’ve handed full control to your largest shareholder to do as they see fit.

Completely agree with your post… the gold backdrop might just save GRL and encourage restructuring but they are solely and exclusively hanging on due to the environment with 0% due to actual operational ability/competence.

All squids are damp, what’s your point?

Not quite. Some of us simply think it’s better to wait and see what happens re the financing and then, if not pulled into administration, deciding whether to buy back in/buy more depending on position.

Why can’t you tolerate alternative views? I don’t sit here demanding you or anyone else be ignored.

No news is bad news in terms of this frustrating (but simply bad luck) that this judges conference has forced the court case date to change… but the very recent price action is a clue as to what will happen if we get the news we hope for (rising into news and take-off if positive).

A little more patience, as ever!

It doesn’t matter what she says, it’s palpably untrue as other posters have shown here.

They ended last year at a higher production rate, it rose considerably in q1 2025 and there *was* a positive trajectory but ever since it has gone in the complete opposite direction. There can be no denying that.

If Emma says the sea is orange it doesn’t make the sea orange.

The best thing about a special dividend or increase in dividend is the signal it sends that Douta funding is sorted. I think we all expect that, after all THX managed incredible debt funding from the AFC even when they were an unknown pre-production risky explorer but still it would signal it being all but confirmed.

List caught up in corruption explains that one. AIMSL running the show now, Emma will be gone next once they have someone new installed.

The lack of interest here is absurd considering all those offtake agreements and the clear support that’s coming from the AFC.

Hanlon's Razor always springs to mind anytime you & a few others like Jack post here:

'Never attribute to Malice that which is adequately explained by incompetence'

The idea that Emma is some secret Machiavellian gold thief making her riches whilst shying away from shareholders always makes me chuckle. She'd struggle to run a bath.

With BRES’ placing it’ll have been great timing if JAN were the big seller over the past week at mid 5s.

... or they're just f*ing useless wasarunner?

‘ This guy? He's loading surely? It's a strong buy at 1.1p then an even stronger one at 0.4p? Surely? Isn't it?!?!’

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That’s not how it works for risky small caps. In April we had seen month on month progress and were led to believe 1000 ounce target was imminent, up from the 599 ounces for March. If achieved that 1.1p would have risen at least 100% but probably much more )I personally saw 3p as a possibility in 2025 if target was achieved and POG backdrop strong.

What happened? Every pour since has been a considerable backwards step. Instead of smashing profit out and wiping the loan out by the end of the year there’s no reduction in debt and (I would imagine) GRL are only just keeping their head above water for general operating costs.

What many of us hoped would happen in April when the share price was 1.1p hasn’t happened. The situation now is far worse hence the collapse in share price. Could this recover? Sure, but the higher share price figures I had hopes for are no longer (realistically) possible and the risk of this going under is high now.

0.45p is a fair price considering the amazing gold back drop counterbalanced with the dire debt situation and lack of cash.

Don’t get me wrong, both of you, with gold so high there are possible routes out of this but there’s definitely no meaningful recovery to be had until dent is renegotiated and/or production shows a genuine improvement.

Let’s imagine AIMS just rolls it over at 14% (clearly they’ll demand more than this but for best case hypothesis) - loan is now around 2500 troy ounces.

I imagine group break even at around 300 troy ounces but more capex is needed for production ramp up. So let’s call it 450 troy ounces group break even next year.

To pay down anything we’ll need to be seeing around 600 dore ounces per month, a near doubling from here. But that would still be very marginal profit. So 700+ dore per month to start taking little nibbles out of the debt. It’s possible but it relies on a whole host of factors which make holding right now at 0.45p very poor from a risk/reward perspective.

And if gold price suddenly starts retracing significantly (I’m not expecting it but it’s always possible) then it’s goodnight.

Merely sharing my thoughts to counteract the mindless ramping on here (not you two).

I said ‘over $7m’ for the very reason you pointed out, it’s a moving target based on the value of the gold owed. I was trying not to be alarmist but if they were to be forced to pay the loan back today it would be 2250 x $3600/oz more or or less so $8.1m.

Yeah that’s right, they will owe 2250 ounces of gold at the end of the year which at current spot price is $8.1m.

POG could obviously crash between now and Dec 31st but that would have other obvious implications for GRL.