Member Info for Legalwolf

Reading this pm's posts all I can say is that some of you guys are effing hilarious amateurs parading as experts. Firstly, wth have I got to do with any of this? It was precisely to avoid this kind of drama and panic that I decided to sit on the side lines. I did also say earlier this week that the stock looked like it was being distributed at 6p, whilst most of you were too busy with your usual suspicions and finger pointing, and preferred instead to listen to the breakout rampers. I dunno about breakout, it looks more like it's going to retest the low! And if it does do that, that's also got nowt to do with me, so please keep me out of this, and if you must finger point, point at yourselves or the rampers.

Each of us is responsible for ourselves and our own strategies. And we take what comes with that. I'm not going to cry and blame someone else if I miss out on gains. It's pathetic.

Skippys - you're also showing yourself up as rather desperate right now in trying to second guess me. You want to know about WSBN? Easy, why not just ask me. FYI, I'm not looking to hold out for results over there either, but I'm playing the pre results and/or rising POG spike before results. That's worked twice already since I entered WSBN! And not all drilling carries the same risk. Gold exploration is very different to gas exploration as you well know.

As i've said before, I hope this does work out for decent LTH even though i've retained doubts that it will - and the price action is also suggesting this tbh. I'm personally really not that exercised if I enter here at 7p on good news, or 3p on bad news. In fact, my preference would be the former, as I believe there's more money to be made from a positive outcome than trying to salvage trade a duster. All imo, dyor and GLA

Yes, looks like we might be on the runway for lift off here now, despite the attempted de-ramping on here. Now that he has the money, I expect BT to go into full ramp mode with the comms as well. Already started on twitter. Exciting 6 months coming up for sure imo and GLA.

The problem with He1 is the straight bat one. Any other company, you could make arguments about them wanting to manage the share price and sentiment, and assess any delay from that perspective. But with He1, you never know whether they are delaying to allow insiders in, or to allow insiders to exit, before they drop the RNS on you.

But otherwise this close to results, the share price is not behaving as if it's a positive RNS that is inbound here. Just hope it's not a double whammy and Itumbula is kicked into next year. That would hit the share price even harder. All imo and dyor

Is it a written Q&A only this time, or is she doing an investor webinar as normal?

And I hope it's not a conning mine plan 🤣

KAV are about to start drilling in the next few days according to their tweet today. Let's hope they get some early success and we can close that gap to the 1p financing that has gone through, as well as ride the rising POG. Should hopefully see some more regular newsflow and volume coming in now. GLA

"The rig finally arrives at our Hillside #gold exploration project in Zimbabwe. The drill pads are ready & we have 24-hour security in place. The drillers will now set themselves up to commence drilling in the coming days."

Actually, KAV are about to start drilling in the next few days. They now have the money and tweet from them today is below. I'm hoping they hit early and ride the rising POG.

"The rig finally arrives at our Hillside #gold exploration project in Zimbabwe. The drill pads are ready & we have 24-hour security in place. The drillers will now set themselves up to commence drilling in the coming days."

Understood Joe - thanks!

JC/SJ - fair enough and you both make some perfectly valid and rational points. I guess we are all united in our desire to see the financing/prospectus to come through, and the potential those would unlock here, but just with differing levels of understanding, patience, and I guess trust, during this waiting period. Thanks and GLA

Thanks Joe - logically from that then, you must also believe that there are NO issues with the Rig? Because they have already tweeted earlier this week to say that they were still drilling and close to TD (albeit curiously they used an old photo). So if they can't or wouldn't drill slower, but were still drilling, then it sort of suggests the Rig must be fine?

SeaHawk - that's one of the key reasons I didn't want to get involved at this stage, and have often questioned, as have others, whether it's going to be a fair game here and be played with a straight bat, unlike in the past, when it hasn't.

What this morning's BB clearly illustrates is that you have to contend with impossible and unknowable questions, such as whether there are delays with the drill, and if so, are they are to do with the Rig, or whether news is being delayed whilst insiders get out in the upper 5s whilst they can, leaving retail to carry the can once more. Or is it the opposite scenario, which is that this is simply MM taking advantage of the delay, that all is well and positive news will land soon. Impossible to know really imo.

But AIM is a risky GAME as they say, and you get exactly what you pay for in terms of the risk/reward. All imo and dyor

ID78 - not sure about that. They would surely get paid more for doing both drills, than slowing down the first and risking losing He1's confidence in them if they compromised the timing of the second? But wthdik.

In fact, thinking about it, I think IF they have been going slower, it's probably not a major concern for Tai as they said they were nearing TD, but I would be concerned about Itumbula, where they obviously have a narrower window to drill before the rains, and therefore they might not be able to afford to go as slow?

So it could be that Tai is completed, but Itumbula has to be postponed. This scenario make Tai results all the more important. All speculation of course, imo and dyor.

Joe80/Skippys - I have been wondering about the whole slowing down the drilling discussion from this morning's posts i.e. whether if a Rig had problems, you could manage the situation by slowing down the drilling, especially if you own the Rig and it's your decision to make over causing more damage to it by taking that chance. When it's someone else's Rig, you don't have that choice - their Rig comes first!

If so, I personally do think He1 would take that chance with this Rig, given the circumstances. It would cost them a lot more (financially and in many other ways) to not complete the drill in the overall scheme of things? Moreover, we already know this drill has taken much longer than anticipated (as Wyn put it "50%" longer), so if they are still drilling, then can we not already take from this that they must have been going slower - and if so it's legitimate to ask why?

BTW - I know nothing about Rigs or mechanics/engineering, so forgive the ignorance. All imo and dyor

JC - regarding your reply, I get that but the timescales that we have been going from are the ones that have previously been provided and then moved by RM himself. It's like a constant shifting sands. And because there are credibility and trust issues with RM, then it's hard to approach it from the perspective you have outlined. Put differently, if it was Gervaise Heddle running GCAT, I would have invested by now on the same information/circumstances. But I don't have that faith or trust with this CEO, which is why I am looking to pin him down to his own shifting timescales and to bring some accountability. He's had 10 months since OCIM walked and said the process would take 6 months back then. Why did he say in summer it was in "finalisation", and now in October we are told this mine plan is a necessary step in the process. Did he not know in the summer that the mine plan would be needed and was months away.

How do we reconcile all this shifting sands stuff? All imo and dyor

My agenda, if that is the right word to use, is very clear and has been publicly and oft stated on this BB, namely, when is the financing and prospectus going to come through, so that I can finally decide whether or not to invest here.

Rather than have digs, just scroll through previous postings and you can see that I have consistently said this since OCIM walked away. The whole investment case here is built on those promises. So why does wanting to know when these promises/milestones will materialise, go from normal investment behaviour, and turn into an agenda?

People should think before they allege!

Come on JC - how many excuses are we going to make for GCAT. They move the goalposts all the time with the language used. If you are told the funding was in "finalisation" stage in the summer, and then told a further update will be provided in the "near future" at the end of October, you are entitled to ask how long? You will see that I have said which quarter, rather than a deadline as such, as I appreciate he can't be that exact.

He can also give details about how many funding parties are involved, what stages the process needs to go through still, does he envisage any difficulties, etc.

The whole idea of this Q&A is that you emerge from it with some answers. If you emerge from it with the financing timescale still uncertain and in the air, then what good has the Q&A been at all? The financing and the prospectus are two of the biggest issues right now, and the Q&A needs to give some idea of how long they are likely to take - measured in quarters. If he can't even give you which quarter at this late stage for each of these items, then I would question what is going on? And there will be no change in the discourse and concerns on here. All imo and dyor

Funding in the “near future” - sorry but he needs to be more specific, otherwise this is just more of the same jam tomorrow uncertainty with the financing and the cycle continues. Where exactly is it at?

He should at least say which quarter and how GCAT funds itself in the interim period. All imo and dyor

Ah, so our MM just wants another day to ramp commentary about L2 etc and lure people into buying, and doesn't want any discussion about the RNS etc to get in the way of that.

Interesting and rather suspicious approach if you ask me 😉

All the best.

I find myself agreeing with Watcher and JC's posts. Both are aiming to get at the key answers, or the truth, but in very different ways. At the end of the day, what we want from this Q&A, and what is desperately needed, are some straight up answers from RM, and no more can kicking down the road. Therefore, the questions should be asked in a way that they have a chance of being asked in the first place, which means 'polite', but they should also be phrased in a way that conveys the anger/concern and pin RM down a bit to precise answers.