Member Info for jdt1990

Yes - until they can sort the going concern issue out (i.e. funding) and publish the accounts

Possibly. Although when you read the wording closely in the RNS notice how it says MAY be cancelled:

“ The Company's Ordinary Shares will remain suspended from trading on AIM until such time as it has satisfied the requirements of AIM Rule 19 with respect to publication of its 2022 Accounts and AIM Rule 18 with regard to publication of its interim results for the six-month period to 30 June 2023, which were required to be published by 30 September 2023. In the event that both such accounts cannot be published by 31 December 2023, admission of the Company's Ordinary Shares to trading on AIM may be cancelled in accordance with the provisions of AIM Rule 41.”

So there’s a possibility they have managed to get their 💩 in order but have some grace to physically publish it. Either way, shouldn’t be long before we find out what these plebs have been up to!

The sheer cheek of Emma and Co to start having the NOMAD respond to shareholder queries because they haven't the decency to address us themselves. Then to have them pass this off as being due to "being busy"....there better be something good in the wings here to justify this!

FWIW here is my email to them 31st October:

Good Morning Bill and Emma,

I’d like to ask for some additional clarity on todays RNS given there is essentially (and rightly so) the view from auditors that Goldstone will no longer be able to operate as a going concern.

As a shareholder (and I speak on behalf of other PI’s who have been treated with such contempt over recent years) I believe the current situation is of sufficient severity to warrant more from the company that what was written in the RNS.

Whilst I appreciate no price sensitive information can be disclosed. There are a number of unanswered questions. Goldstone not so long ago had a production target of 20koz per annum. With operational failure after operational failure minimal gold has been poured and this is why we find ourselves invested in a company with a gold loan (which should have been paid off) accruing interest and growing as well as non working capital as it is being pumped into an operation which clearly does not work.

The company has spent all of the Blue Gold funding, to produce 376 ounces in the latest pour which will barely keep the lights on. What timeframe of mining/leaching has passed to produce this gold?

The company needs funds, which is this current AIM climate I am sure will be catastrophic for shareholders and bring once again more unwanted dilution.

Does the company have confidence that the operation can actually produce meaningful gold? What options are on the table for funding (and will they be in the interest of ALL shareholders not just Paracle and AIMs) and most importantly, does the company foresee a positive outcome in gold loan negotiations before deadline day in under 2 weeks time?

I look forward to your response.

Regards

Jake

I received this email this evening:

"Dear Jake,

Thank you for your email and my apologies for the delayed response. As I am sure you can appreciate, Emma has been entirely focussed on finalising the audit and pushing the operations forward in Ghana and hence I have stepped in to assist with some shareholders enquiries.

The Company will shortly be in a position to release its final results, and this will provide a more comprehensive update for shareholders on both recent developments and also the upcoming objectives/outlook for Goldstone.

I believe many of your questions will be addressed in the upcoming results statement from the Chairman and CEO, however if you do have any subsequent questions, I would be happy to assist.

Best regards,

Susie Geliher

St Brides Partners

4th Floor, 22 Bishopsgate, London, EC2N 4BQ"

So are we going to receive the last minute reprieve I was convinced would not happen?

Think it’s lights out here and the scumbags get their wish to take it private. Should be investigated by the FCA this situation!

Very strange anyone would take anything in the primary bid offer when it’s 20% cheaper on the open market and no like that volume is unavailable. But hey Ho, good show of support for the company.

Fingers crossed this can all progress smoothly now and Craig can continue the turnaround here bringing BMN back to basics and some long overdue returns to long suffering shareholders!

Surely now they just have to go ahead and execute Bill's original plan and get it sold. 1.5moz @ even $10/oz in the ground is triple the current mcap

Drilling was completed in July!

6 smithy shumpers

Nursesteve - things have moved on a bit from that comment. There will no longer be that same P1b….it’s being replaced with the shorter fortnightly dosing trial currently (I assume) under review by the FDA, to facilitate a potentially pivotal P2:

“ In light of the positive data emerging from the ALS-6000-101 study the Company has adapted its clinical development strategy with the aim of bringing forward the start of a potentially pivotal phase 2 study in soft tissue sarcoma, subject to receiving the necessary regulatory approvals.

The excellent safety profile of AVA6000 should allow more frequent and/or higher dosing compared with the standard doxorubicin regimen which could in turn improve the outcome for patients. Therefore, in parallel with the completion of cohort 7, the Company intends to begin a short study to explore more frequent dosing (fortnightly) of AVA6000 as a first line treatment in patients with soft tissue sarcoma. The study is expected to begin in Q4 2023 subject to receipt of approval of a protocol amendment from the US Food & Drug Administration (FDA).

The study is designed to determine whether fortnightly or three weekly dosing should be the recommended Phase 2 dosing regimen, as well as potentially providing additional indications of activity in soft tissue sarcoma patients. The study will replace the much longer planned Phase 1b efficacy study, and is expected to allow the Company to bring forward the start of the potentially pivotal Phase 2 efficacy study into 2024.”

Livelongnprosper - it’s unlikely they will be publishing the ava6000 data in a peer reviewed journal.

https://www.investormeetcompany.com/investor/meeting/post-agm-presentation-and-investor-qa

Q8 at the AGM asked about this as AS made it clear data needs to be COMPLETE to be allowed into a peer review journal. He says “you can’t do both” with regards to publishing partial data in advance.

So 2 options here:

- C7 will be included and they can publish into a peer reviewed journal as it is a full data set.

- Someone/something caused a U-turn (could it be FDA or a potential licensing partner?) where they are happy to publish the data excluding C7 at the expense of this journal and peer review.

Not long to find out either way!

5th Dec is just one of the doomed dates....I would bet we don't get an RNS and are kept in the dark or we get the same exact holding RNS we have had each time.

There'll be no resolution here and it will delist EOY, going private for Bill and his pals to reap the spoils longer term, without the cost/regulatory responsibility and most of all need to answer to shareholders.

Everything is just sooo complex and conditional on xyz no wonder the market can’t value it!

Craig clearly doing a great job of untangling the spiders web Fortune had created.

I look forward to a day where is can be easily laid out what BMN owns and focus on production figures and margins on the simple stuff first and foremost.

The company needs rebuilding from foundations which Craig looks like the man to do. Orion next (soon hopefully) with that all important CLN equity conversion price!

Glad I’m not the only one who sees where this is going whereisthegold! This will now be delay tactics and holding RNSs until end of year when everyone but PIs (who sadly are the ones who funded this all and will sadly lose out) see BTs plan unfold and a profit be made for someone to finally take hold of what has been a shambles of an operation these amateurs just couldn’t handle.

They did a very good job of hiding the incompetence in the early days I have to say and it was all looking very promising but the “robbery” was where alarm bells stared ringing (haha well actually the lack of them was an interesting coincidence)

My investment here is written off in my mind so bar an miracle it’s another expensive lesson learned.

The tin pot operation built around what was supposedly a 50koz then 25koz etc etc operation with leach pads that leach everything but gold it seems have us in a position they can’t come up with a relatively small amount of gold to pay off the loan.

If they wanted to sort this out, they would have done so with gold at $1900 an ounce FFS…that’s an incentive and a half to sort your operation.

This AIM market is dire no two ways about it and a placing at 6p ish was always going to drag it down.

This is a raise which goes along side PIs now being told really under Claude it’s not for sale they want to mine it (which is the opposite of what Bill had said and was the bull case for the share at a solid gold price).

There is no concrete drilling plan. No idea of how much it will cost and whether more funds are needed for drilling, feasibility study etc. Delays to any monetisation of BAM so who knows where the gold price will be then.

I think the market has every right to hammer the SP to where it is.

On the plus side:

1. It’s now cheap for these Canadian investors the TSX (might) bring if Claude is to be trusted.

2. Directors have bought in to this

3. There is a 1.5moz golf deposit in a safe jurisdiction valued at £8m Mcap so that values it at £5 per ounce in the ground

4. Geopolitical issues will keep gold in focus for the near term

10th November…..a day to go. Down to the wire as per usual but my guess is 10th passes and we hear nothing from GRL as they don’t care about PIs

What AIMS do here now will be very telling!

Game could be up before the delisting deadline end Dec!

“The Board is taking appropriate professional advice, but in the event that a solution cannot be achieved and the outstanding principal amount of the Gold Loan and accrued interest thereon (which as of 30 September 2023 amounted to, in aggregate, 2,354 ounces of gold) cannot be repaid or rescheduled prior to 10 November 2023, security over the Company's primary assets could potentially be enforced.”

Let your pals in at silly prices….7.6p was well below the market rate and especially for options where you expect a director to be incentivised. Then you look at the price action, dropped to the option value last few session, leaky or what????!!!

MH01 is spot on. The expectation for all GGPs maiden drills at new targets to match Havierons bonanza grade results is ridiculous. It’s needle in a haystack stuff and needs time, drilling and expertise to narrow the targets. Good to see some gold and copper, even if in small quantities, which should give the geology team (remember this includes Rio’s team here too) some good basis for further targeted drilling.

Hit the nail on the head. The writing is on the wall and for the naive ones saying look at the shareholders, Bill is one. Exactly….they have the votes to screw over PIs if needed, hence the years of palming off and contempt. As witg says, they now have the ability to take this private and reap the rewards without any regulatory scrutiny. Lucky them. Shame for us mugs

I do agree that BT will say and do what is in his interests which isn’t always the same as PI’s….despite him making out it is. Emma is also a joke.

This could well end up like Solgenics did with the BOD / major holders having the shares to vote taking it private when they couldn’t raise in this dire market.

I was inspired to write BT a stern email myself top SURFER so FWIW here is his response:

(Not sure what he means by a deal they withdrew from?)

Jake,

Obviously I can’t give u any information that is not in the public domain.

The 376 oz you mention was just this month, not the entire year.

What I can say is that there have been a number of issues that have arisen as a result of a deal which we withdrew from.

This caused us to have to inform the market of the worst possible outcome, a bit like the panic at the start of Covid.

We are working on a number of developments that should have a positive outcome for all shareholders this always takes a long time but hopefully we will have very positive news soon.

I still have a considerable position as you know and will be hoping for success in the future, I believe that the current workforce are well placed to achieve this.

In the meantime I appreciate your support.

Bill