Member Info for jdt1990

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

Losing? Lost it donkeys ago!

Just not worth selling and crystallising the loss now.

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!

Not true O&W and you know that. The company have previously said they will have biopsy data….that’s not for safety, that’s for activation which is early efficacy data.

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.

With the volume of gold GRL currently produce, I can’t imagine they will be subject to the full 20% that the likes of Anglo Ashanti do.

“ Community mining schemes and licensed small-scale miners will also have to sell gold to the government, Bawumia said, without specifying how much of their reserves would be affected.”

Would think GRL fall under small scale miner.

Buying at spot, so only risk really is the FX volatility on Cedi vs GBP but that’s on a small portion of gold.

Can’t see this ever being an issue tbh

And in true GRL form…..nothing from Emma.

Well at least they are consistent with their terrible comms and timelines!

Cryptic if nothing else. Will pass on what comes from the “comprehensive reply”

I sent a couple of emails to Emma directly. The second being:

Good Morning,

I was hoping the company would please acknowledge and provide a response to my previous email, as we approach seven weeks from the company's statement on 30th September of:

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 would also be appreciated if the company could provide comment on their perception of the over 50% share price drop year to date, as a shareholder, the shortcomings of this company are concerning. Not least, the drop in production target from 20koz to 7koz.

Regards,

Her response:

Dear J

I will write you a more comprehensive reply tomorrow.
We have been at site and are restructuring the team on the ground.
Much going on and will be reporting soon
Emma

Sent from my iPhone

Have to say, the longer the radio silence goes on, the worse I think the next update will be. If they were making good progress on gold production you’d make it known given the cut to 7koz

7koz for 2022 with another excuse given to us and a Placing are my guesses for next update.

Where is all the stuff they said would be a few weeks away in the interims? It’ll be 2 months on Friday!!

Whoever has stumped up the cash will have know, just like we did, the company was literally in a placing or bust situation.
Regardless of what the asset values are, you’d of course drive a mega discount to improve your return / reduce downside risk (latter more likely with NCCL)

Scott Fletcher then says “yes please” I’ll average down.

He’s literally the only thing that provides a sliver of hope. He’s got 20% of the Co and keeps adding in. Either he’s just looking to buy a solar project like the last one that shareholders get nothing of, or he sees some value….