Q&A feedbackm my point of view22 Oct 2025 23:06
I will listen to the recording on Stockbox (if shared tomorrow) before taking anything more from it. Some of the figures got lost on me. A few things I understood. 1.Short term they're going to use placing for funding, Jason said because they have so many natural resources to back them up they can wait for the right offer for off-take and debt. But I remember him saying at the last placement there would be no more dilution, so...? 2.This placing will be made available to us as well as institutions. 3.They will unsuspend once accounts are released, should have been today, that hasn't happened, but there was no confirmation of why accounts weren't released, or when it will happen. 3.Regulatory approval and licences for many things are applied for but they have no idea when they will be approved, they are at the mercy of government admin, therefore they say this time frame is out of their control. 4. Henkries South will take a lot of prepration, more than anticipated. 5.Forget production next year, production won't happen for at least another 18 months due to the above, preparaing Henkries and licencing.
At least Theo is realistic and doesn't mind giving facts that might hurt, he seems to know his stuff and understands the industry. I feel comfortable with him at the helm, unfortunatley his honesty and realism have shown me they won't produce until I'm retired, and that probably the share price will fall as the dilution happens. The only way around that is if the new audit and accounts show the truly massive resources they have and that helps the MCap increases from the current £15 million. If all resources are taken into account, minus liabilities for mine preparation, capex, opex, taxes, royalties, financing, timing (many years), permitting, and risk. theoretically a conservative estimate of MCap is £360 million.
GLA but it won't happen this year.
Sign In
Follow the stocks
