Member Info for Legalwolf

Why not RM himself?

Sorry, but once bitten, twice shy. I'm just NOT willing to take anything for granted right now when it comes to GCAT, which is why I remain out. Until they don't confirm stuff officially, with the track record of the company, everything has to be open to debate and questioned right now. As someone else put it, things are on a knife edge here, and could go either way. If they turn out fine, then we can look back and say there were those greenshoots/signs of that happening. Equally, if they don't, then I'm sure we will all say that the red flags were clearly there as well.
There are clearly antics going on, on this bb, and both ways. I'm not interested in the positive or the negative posts. In fact, nothing said by anyone on this bb means anything right now. We are all as in the dark as each other, and its complete guesswork by all of us as to wth is going on.

Not a de-ramp, subtle or otherwise, but are we sure that the mine is still in production right now? With any other company, yes they would have told us if it was not, but with GCAT, i'm not inclined to take for granted that they would, or if they did, that they wouldn't delay such an announcement?
We haven't been given the Q3/Q4 update, so don't really know what has happened at the mine in the last 6 months in terms of its operation and production. Therefore, is it because we got the funding agreements with OCIM/Philaro, that we can be sure that the mine was/is still producing?

Are folk expecting news to land before the AGM, or do you think they might want to get that out of the way first?

Bebeto/Suggins - fair enough, I understand. You're quite right, there is a balance to be struck between going over old ground and looking ahead. We obviously have nothing new to discuss, because we have not been given any new comms by GCAT - lol, even this is not a new issue!
But until then, I guess this bb is going to continue to be like this...

Thanks for the response Zan - understood. I would imagine though that its going to be a completely different situation for the existing mining companies already operating in Mali, and those like Cora who are seeking/needing funding. Here, what we need to look at is what western investment there has been into Mali in recent years on new projects like Sanankoro. I have no idea about this, as I've not really been focussed too much on Cora, or any other Malian company. That's why it was good to hear that Lionhead are still committed. But they have not actually committed their money just yet, which is the ultimate evidence of commitment, and so we can't rule out that the possibility that the jurisdictional situation has made them 'pause' that commitment for now.
Has BM given a timescale for the funding to be sorted out, or is it currently open ended. I'm just thinking that with the POG where it is, it would be great if Cora could get the funding all sorted, kickstart again and benefit from this bullish POG climate. Otherwise it will be late to the party and might miss out. (Thanks for your post on the GCAT bb btw).

Good luck Tornadotony trying to warn or engage some of this lot. I've tried and sometimes it's just not worth the bother. I could understand if what I had been warning about turned out to be incorrect. In fact, I would expect a barrage of posts aimed at me and take it on the chin (and I would apologise for being wrong). But it's even more difficult to reconcile this stick when what you tried to forewarn people about turned out to be correct!
(Having said that, I'm very grateful to those posters who have not engaged in this and been supportive. I'm not going to name you, but you know who you are and thank you. Very much appreciated.)
It just goes to show how big and inflexible a part our emotions and hopes play in this game, making us prepared to wilfully ignore facts that don't fit with those beliefs and hopes.

Totally agree with Dmors, which is why getting some news, and it being positive, is so important. We can forgive the company for the funding falling through, but not for the repeated and delayed comms. It just adds unnecessarily to the difficult situation imo.

At least my posts are factual, what exactly are yours contributing but making stuff up to suit your agenda, such as claiming there are no CLNs. Go and do some proper research and you might then be able to make some proper decisions and contributions. I'm posting because I still have an interest in what happens here, and MIGHT buy back if they manage to turn this situation around. Why not just use the filter button if you want an echo chamber.

So boring guys, can't you come up with something a bit more original than "de-ramper" every time somebody questions what has been a complete shambles here of late?

He definitely said Q3 this week. He is now taking the biscuit with the Q3 being delayed by him personally. If it doesn’t land by Monday, then it’s hard not to think that there must be other reasons behind this.
It’s just not good enough imo.

Does it open up the possibility of manipulation though. Buy low on one exchange and sell high on the other and vice versa?

Thanks Zan. I didn’t realise that 2024 was the intended date. That’s all useful or reassuring to know. Re the funding, I was not suggesting we move away from Lionhead, but talking more about the additional capex, unless Lionhead are willing to pay for that as well. They will clearly remain the majority funders here for the reasons you have outlined.

Bebeto - just on that, and this might be a complete coincidence/red herring, but I think they are one of the brokers that people can go through to deal on the Frankfurt OTC? Don’t know if this is correct or if it has any relevance?

But how does coming on here and suggesting to investors that GCAT is under short attack, actually help them, their nerves and the overall situation?

Hi folks. Cora remains on my watchlist, but its all been terribly quiet for the company, with not a great deal happening, and hence not much for us to discuss on here. I was heartened to hear from BM that Lionhead are still very much interested, even with the capex having gone up, and Cora are now discussing a revised funding Term Sheet with Lionhead and other potential funders. But, and especially given what has happened at GCAT this week (a long story), we can never be sure about funding/funders, until its all signed and delivered.
The main issue remains the jurisdiction. This military coup regime is digging in and isn't going to be doing 'free and fair' elections any time soon (they have delayed them again until 2024 it seems), and so will probably be around for a while yet. Therefore, I wonder whether a necessary de-risking step might be to secure funding from regime friendly/neutral countries, e.g. China. Otherwise, how does Cora move forward with only Western financial backing, if the regime is not all that well disposed to the West?

Thanks Trek. I'm sure you will recoup any losses, with all your considerable experience of knowing how to handle such. And I wish you the very best with that. The current situation here reminds me of a couple of investment lessons/advice that I have come across, and which have resonated with me, particularly in recent days:
1) The success of your portfolio is determined by how you react to your losses/losers, more than it is your winners.
2) 80% of your success (winnings) will come from 20% of your investments/trades. This doesn't sound great at first, but is actually quite comforting when you think about it.
And if you add these two pieces of advice up, you come up with a third (which maybe chimes with what you have been saying): Being wrong is absolutely fine (and to be expected), but staying wrong is not (and less forgivable).
Anyway, enough waffle from me.

No hidden agenda folks - everything that I have posted is what I have acted on with my own holding, which was actually the LARGEST holding in my pf, hence why I was understandably VERY anxious about it, and questioning everything and challenging the consensus. I was doing that for myself and my holding, and my confidence in it. If you look back at my postings - properly, you will see how anxious I was and why. So whilst you wrongly thought I was buying the dip, I was actually NOT doing that at all and acting consistently with my postings on here. Anyway, I can keep on saying that but people will believe what they prefer to believe. More fool them.
As for my current agenda, that is also not hidden, but I have openly told you what it is - see the first post under this heading, it's there in black and white. Therefore, I am NOT buying this dip either. As I said, I am not going to follow this down, and I am not going to chase this up either. I am NOT going to get entangled with the stress and question marks that this share currently brings with it, until or unless we get satisfactory comms on those stressful issues (namely, what does the current financial runway look like now, and is it going to allow us to avoid dilution/conversion, etc). RM said the Q3 would be issued this week, and the Q4 by the end of the month, and we have the AGM coming up. So having been emotionally and financially invested here throughout 2022, I'm obviously still emotionally invested here, even though not still financially.
People need to think clearly and properly through all of this stress, emotion and finger pointing, and do what best suits them, whether that is exit, average down, buy the dip, hug and hold, or sit on the sidelines until we get answers. This bb is probably not a good place right now to make those decisions.
I have no desire to see others lose money. I have benefitted hugely from the learned postings of others, who have helped me navigate my GCAT questions in 2022. 2022 was not always an easy hold here, and we all helped each other through that.
For those LTH at least, I want their investments here to succeed. I was hoping as much as others that 2023 was going to be a brilliant year for us, one where we LTH could all 'high five each other' and reap the rewards of our patience and forbearance in 2022, and it would all have been worth the aggro and then some. I had a large holding in readiness for that. The fact that is hasn't turned out that way, is not down to the fault or agenda of any poster(s). The responsibility, blame and finger pointing has to lie with GCAT/RM. And only they can now provide the solution. All imo and GLA.

Watcher36 - the bid here showed at 0.4p this morning. I also posted yesterday about the price on Frankfurt OTC. Yesterday it was 0.0025 (in euros). Today it is so far down another 40% to 0.0015. Please take a look for yourselves. I was only alerted to this by postings on ADFVN.

The Directors' Salaries/Fees are set out on page 22 of the Financial Report. The overall amounts given are as per below:
Executive Directors
Robbie McCrae £217k
Gerard Kisbey-Green £149k
James Longley £106K
Charles Tatnall £96k