I just hope for the prof's sake he's still around to see any of this come to fruition. Between CGNR and KDR he's dithered for years which has meant its taken so long to get to a point they should have already been at. But....c'est la vie and hopefully this pushed on with a backer behind it.
Nobody wants to buy this amateur operation right now and holders don't want to /can't sell at the moment as they're under water. ...simple as really.
The BOD have made a right pigs ear of this whole thing and just to add insult to injury raise at rock bottom prices.
Gold at $1950 and no interest in a gold "producer" (I think that's being kind) just shows how low sentiment is on the BOD's ability to actually run a profitbale business
Aim99 you’re being shot down because they’re something you clearly don’t understand about the business model.
By “One trick pony” what you actually mean is GGP have a lead asset with a major in which they own a 30% stake. That asset is going to be 10poz plus and producing ore in circa 12mths with gold at $1950 and a top quartile AISC of circa $680. Once producing that FCF is what will drive independent exploration (Ernest Giles etc).
NCM only hold the reins until Hav is in production, it’s par for the course.
Don’t make out as if GGP are wholly reliant on NCM forever
Here comes the “it’s a duster” brigade again.
The expectation of hitting the kind of initial holes we did at Havieron needs to be tempered. That was really uncommon and we were spoiled in that sense.
These are huge areas in which they have put 5 holes….it’s called exploration for a reason.
The fact gold has been found and there are sufficient indicators to go ahead with a 2023 drill programme are encouraging and positive.
Future guidance has been curtailed due to the unprecedented load shedding. I think it’s wise for BMN to under promise and over deliver. You clearly have no grasp on how bad (and sporadic) load shedding is out there.
Although I do agree they should get a move on with a solar battery solution to help….given they’re in that space.
With regards to profitability. They have stockpiles of NitroVan which sell at much higher prices than FeV to to US. Q4 there were three large shipments each month. They will likely make up the small shortfall in production and more. I think we’ll see a profit for 2022 and capex in 2023 plus BELCO coming online and Orion CLN restructure I hope puts the business in really good shape
Explains the silence. Nothing good to come from the Akrokeri drills it would seem then and been working on funding to help them do what they should have been doing 18months ago, which was fixing the dire recovery rates from Homase.
I calculate that to be about a max 30% dilution with those pesky warrants attached, a blow for shareholders, but I suppose they are also diluting themselves.
Emma really has some cheek with this comment, she must think we're stupid!
" In what remains a challenging market for the natural resources sector"
GRL are now a PRODUCER!!! Gold is at close to $2000/oz....if you could sort recovery rates, not get robbed and produce the 20,000 ounce guidance given at the beginning of 2022 this mess wouldn't have happened. The challenge has been all the issues this company have not addressed and ended up producing 5,000 ounces!
Going by Emma’s last attempt at a timeline where she said in Sept 30th interims “GoldStone has also undertaken grade control drilling for the third pit within the Homase Mine to determine the pit planning and to potentially expand the mineable resource inventory. The results of the drilling have been received and the modelling of this third pit is currently underway a press release on this will follow in the next few weeks.”
It took 3 months for us to get that…..
So I don’t hold any hope for them to update us on anything anytime soon. No doubt timelines will slip again but they’ll use the silence technique as Emma doesn’t give a hoot about shareholders.
Luckily gold price is on the up so if they can actually start to produce some kind of viable ounces there might be some cash flow to ease the pain
Exactly that Mick. Companies need to strike while the iron is hot. They’ve fannied around so much with this strategic review which has ultimately ended up with an answer everyone knew months ago.
They should have just pushed ahead growing BAM from the start and been able to capitalise on gold close to $1900. Running the risk now of a reversal by the time it’s drilled and PFS done
Agreed Dv.
I suppose the good news is it shows they are alive and actually something is happening, dispelling the DJ myth it was mothballed. But that’s where the positivity ends.
Just over 5000oz produced in 2022 at 1370 AISC is pitiful. Inflation running at 50% I can appreciate doesn’t help - but they haven’t improved recovery rates from 65% and production gone from 20k to 14k to 7k estimates which they haven’t even hit!
Shambolic. SP will take a hit here no doubt and rightly so. We deserve better from them as shareholders but we’ll just keep getting fed the same old excuses.
I’d much rather they just admit they’ve mad me a real hash of this year!
Shame the AGM is so far into 2023 - id have turned up with my pitchfork wanting some heads to roll!
Do us all a favour DJ and go preach about your apparent wealth and knowledge to some other board….or maybe not at all.
The narcissism oozing here is pretty tragic to be honest. Who comes on a bb spouting about their anonymous wealth and supposed incredible investing abilities.
Share something useful/constructive or just leave the bb alone and stop this jilted lover act!
Just says everything about how the BOD have run this company really and sentiment around them.
Bunch of clowns with no regard for shareholders.
Update in “a few weeks” they said end of sept. Nothing 11 weeks later and SP down 60% YTD
Something untoward coming IMO and not in a good way. Placing most likely as no gold coming from Homase to fund Akrokeri.
I quote you:
“ What is certainly not possible is to discern anything about whether AVA6000 “works” overall, since that is not even being tested in P1a and certainly will not be announced prior to or at the February conference.”
I’m saying that prior to or at the Feb science day, biopsy data will confirm it works…simple as
Metalhead - answer me this….the biopsy data that Avacta have clearly stated will be part of the PK data package, what do they show?
I’ll help you out - activation in the TME. So I strongly disagree with you when you say there will be no indication it works. We will find out - just not know to what extent it works
PJT - there will likely be a high level summary of findings in Jan and an indication of next steps for the trial.
The complexity of what this study is looking t will be far beyond comprehension for the average joe like us. They will need time to get the right people in the room and put together a Lehman’s presentation of that data. Plus this isn’t all about Ava6k, the gap for me suggests there is a lot more to be said in the science day that just P1a results!
Publican it’s interesting we have a similar thought process.
I also exited HZM at 90p after that raise in pure disgust that there was an “inflation buffer” already in there and then they came crawling back. Maybe the banks forced it for collateral so to speak but that’s bye the bye.
Akrokeri drills could be amazing but GRL have shown ZERO ability to economically extract a sustainable amount of gold.
They aren’t up front with shareholders about shortcomings, simple as.
They have used every excuse now to justify producing the 7koz. Gold loan should have been paid off this year….oops nope.
I agree the payment in shares they probably used to show “commitment” but actually it means we’ve got jack all working capital. Raise coming imo which is terrible at these levels!
Then there’s Emma who just cannot engage with shareholders. Bill Trew out and out lied at the AGM.
It’s a joke and now become a pure speculation that either they magic some acceptable recovery rates from Homase or Akrokeri drills prove up a saleable resource to someone who can actually deliver!
Wasa. Whilst I agree with most of what you said, I’m not sure it’s just bored PIs with a short term horizon that have caused the price to drop. Yes small scale selling on low volume but in reality, there are sellers and no buyers because the company have had issue after issue and ultimately have gone from 20k to 14k to 7k ounce production target this year. Which has been explained by excuse after excuse and no reassurance they know how to fix it.
There’s little confidence this company can deliver in the near term on Homase….never mind bring anything decent they drill at Akrokeri to fruition.
If there is a raise - that’s a terrible position given they should be very much profit generating at $1750 gold!
Complete joke of a company. My guess is placing on the way...or another armed robbery...or more heavy rain....or diesel shortages......or the waters too chalky....or any one of 6 million excuses this BON have pulled out of the bag this year!
Nitrox - In true GRL timeline fashion, nope nothing more from Emma a week on from her saying she would send a "comprehensive reply tomorrow". Comprehensive in her view is clearly...nothing. Shows the utter contempt this company have for shareholders, comms have and I fear always will be dire.
Xieger - Totally agree, the BOD have to come clean here now, they have used every excuse in the book. As you say, the last one being weather. I would like to see a realistic target but also some plausible rationale behind that number. God forbit they just try to sneak another cut into an interims RNS I think I will blow my top.