Member Info for LOTM-13

Sorry I should have paid more attention when I only briefly skimmed the RNS earlier.

The key line of the RNS is as follows

"Wishbone continues to work closely with Core Drilling Services and ALS Laboratories in Perth to assess the samples recently collected from holes 1, 2 and 3 at Red Setter and findings will be announced in due course."

"Assess the samples", in other words they already know the assay results & are assessing them before announcing their findings from those assessments with regard to Red Setter !!!

How on earth is the NOMAD allowing this to happen?

They know the assay results are price sensitive in themselves & the BOD & who knows how many others already have that inside information. The have a statutory duty to ensure an orderly market is maintained, that can't be done in this case. The BOD hyped 25RSDD001 to high heaven as it was being drilled & think its ok to then not realise the assay results as soon as they received them.

How long have they been in receipt of those assay numbers ?

With each passing day, the chances of a leak happening increase, clearly some people are making money off what is already known by a select few.

Absolutely shocking

LOTM

Casper786, Cando66,

Another totally useless RNS, the 3rd that they've issued in a row that's crashed the share price, the BOD are totally incompetent & totally out of their depth.

The stupidity of this latest RNS just beggars disbelief, referring to an old RNS in sheer blind panic.

They've been told weeks ago what was needed & yet again failed to deliver a NEW INVESTOR PRESENTATION to educate there shareholders with, showing the Red Setter Dome, where holes 1 & 2 intersected it, where it is in relation to the dolomite, where the 6 x Haverion are meant to fit in etc & the forward drilling plan with an explanation as to why hole 3A hasn't been extended yet. Why they are drilling at these new locations etc.

Instead we get this ill thought out nonsense, you just can't make it up.

Everyone needs to get voting & get this lot sorted out.

LOTM

Everyone keeps trying to fit the WSBN narrative to the assay timeline to give them (WSBN) the benefit of the doubt, I've been looking around now & again to try & find any companies working in Western Australia who would have submitted cores to the assay labs around the time WSBN did & got there assay results back.

Today I finally found one !

Now the only difference with this company is that they were doing RC drilling & not DD & they only did 1000M well 954M as it turned out in their 4 holes.

I'm posting the links to 3 of there ASX announcements for you all to view.

The 1st shows they were about to start the drill program in a few days time - that was issued on 3rd Sept - which was after we saw the pictures of the 25RSDD001 cores already at ASL with all the geologists looking at them.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02988493-6A1281802&v=undefined

The other company Lodestar (ASX:LSR) probably started drilling around 6th Sept & if you give them 10 days of drilling and another couple of days to move the rig to the 3 other drill locations (4 hole total) & maybe another couple of days minimum to send the material to the labs - that would indicate assay's possibly starting around 20th Sept.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03008196-6A1290244&v=undefined

On the 15th October they published assay results from 3 of the holes (hole 8 as they called it seems to have found nothing of note at all) & were re-submitting some for further assay, they then published the full assay results for the 3 holes on 13th November.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03022337-6A1296755&v=undefined

Need I say any more ?

Everyone can clearly see the time lines & outcomes & compare that to what's happened with WSBN.

Given the data its extremely hard now to argue that WSBN doesn't have the assay results for hole 25RSDD001 & that they are refusing to provide them to there shareholders in a timely manner - As we all know RP has history for not issuing assay results as soon as they are received.

Its time things changed at WSBN, new directors are now required - no technical director on the BB & no women either, just an old boys club by the looks of it.

LOTM

Cando66 & everyone else you need to get voting its as simple as that if you want to force them into giving us updates.

They have a 250M start on all the resolutions at the AGM & EGM (except resolution 3A RP's re-election where his shareholding isn't able to vote so just a 150M head start on that one).

LOTM

Richar,

Your one of the new posters here & your what 10 plus posts today have contributed nothing to the discussion.

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As for an RNS - if someone keep saying it everyday your bound to be right eventually !

I highly doubt they'll be one tomorrow, there might be an X post given it is 7 days since the last rig one (210M of core at 30M a day) so hole 4 could well be complete.

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Since no-one has posted about getting an email, I guess no-one got a response from WSBN to their efforts yesterday.

I wonder when the last time was that WSBN actually replied to a shareholder via email ?

RP pocketing £200,000 plus benefits & doing virtually nothing to earn it. hopefully that gravy train is coming to an end

LOTM

ChartaRex,

Why don't you call Cranborne Communications Ltd & speak to them & let your views be known that way ?

LOTM

Hmm did a little digging around and Global Investment Strategy UK Limited actually just seem to be another nominee holding company/broker as well.

LOTM

Hi dg222,

Yes that is correct, I don't believe Ed Mead has sold any shares (or bought any more for that matter) since the £1.75M placing, otherwise he would have needed to inform the market of those transaction.

Yes he is only a director of a subsiduary company. ( PDMR)

I'm not sure why they don't have a geologist on the main WSBN board of directors but they don't.

It's a rather strange set-up because there Queensland exploration licences are held in another subsidiary company & it had a different geologist atached to it.

Then you DL as an advisor as well !

A very bizarre set-up to say the least.

LOTM

TheBasher,

You could always call their new PR team - Cranborne Communications Ltd - number on the last RNS's to make your view known to them as well.

LOTM

The Share Register is

Name Number of Shares Held % of enlarged issued share capital

Interactive Investor Services Nominees* 614,987,625 20.35%

Hargreaves Lansdown Limited* 589,668,146 19.51%

HSDL Nominees Limited* 241,677,916 8.00%

Lawshare Nominees Limited* 216,250,971 7.15%

Barclays Direct Investing Nominees* 150,598,020 4.98%

Vidacos Nominees Limited* 147,288,435 4.87%

Global Investment Strategy UK Limited* 142,097,902 4.70%

James Brearley Crest Nominees Limited* 125,936,803 4.17%

Interactive Brokers LLC 107,636,608 3.56%

Aurora Nominees Limited* 97,290,858 3.22%

So basically we need to get those from ii &HL voting as much as possible as they have the largest holdings.

Global Investment Strategy UK Limited* 142,097,902 4.70% seems to be the only Institutional investor with over 3% of the company, if they can be persuaded that change needs to occur then the BOD are in real trouble & have completely misread the situation.

LOTM

No problem Casper786,

Surprise surprise RP does very little for his £200K annual salary (probably with pension benefits added on as well) hopefully that's all about to come to an abrupt end.

As to your other question, from the 46% you'll need to deduct around 10% for the directors + Ed Mead, DL's holding will also fall into the "not in public hands" category. The rest are going to be with a number of institutions most likely as they can fall into the "not in public hands" category as well, then you could have "non spouse" holdings in it as well. However all of these still need to abide by the 3% rule, although for some the figure is actually 5% :(

Yes it becomes very murky & the onus is on the holder to make the disclosures not the company to do so !!!

I had a long heated discussion with a NOMAD about it all & its complex to say the least sadly.

Its got absolutely nothing to do with a JV or the consolidations so you can eliminate those thoughts from your list

LOTM

Cando66,

You need to get voting.

LOTM

Bigw77,

If you look further down that document & look after each of the other 2 you'll see "Director" against 2a position / status. but in Ed Mead's case it is PDMR because he is not a Main Board Director see https://wishbonegold.com/company/directors-management/

He is just a director of Wishbone Gold WA - its Western Australia subsidiary company .

https://www.lse.co.uk/rns/WSBN/fundraise-of-175-million-and-tvr-veu6f6l0l7gwafg.html

"Related Party Transaction

Messrs. Richard Poulden and Jack Sun, Directors of the Company and Edward Mead, director of a Group company, who are Related Parties under the AIM Rules have agreed immediately following the publication of the Company's December 2024 Accounts to subscribe equally for a total of 230,769,230 New Ordinary Shares at the Placing Price. Accordingly, this is a Related Party Transaction under AIM Rule 13.

The Directors, other than, Messrs. Poulden and Sun, consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's Shareholders are concerned."

I hope that helps explain it ?

If Ed has sold any shares he would still need to notify the market as he's classified as PDMR

LOTM

Casper786,

Ed Mead is not a main board WSBN director, so doesn't appear on the directors list etc.

from the last update "Ed Mead, Wishbone Gold WA director, commented"

Ed Mead is ONLY a director of Wishbone Gold WA - its Western Australia subsidiary company - not WSBN itself.

LOTM

TheBasher,

My goodness you've changed your tune all of a sudden.

Requested the said weeks ago, via emails, the new PR guy etc & zip back from any of them.

Use your vote, get your NO votes in as soon as possible that's the only action that will make this useless BOD sit up & take notice.

LOTM

Medjed,

And anyone else confused by the consolidation.

They are consolidating the shares 1 new share for 100 old shares. That then takes the nominal value of the shares from 0.1p per share to 10p

Then the next part of RP's masterplan is to then split it into a new share of 0.1p nominal value that will be issued to you as the "New Ordinary Share" & a deferred share of 9.9p that is effectively of no use & for accounting purposes only.

The directors will then have the ability to issue £4,977,413.54 of "New Ordinary Shares" with a nominal value of 0.1p just like now.

So there will be 30,225,865 shares in issue at the end of this with the directors able to issue up to 4.977 Billion more shares !!!

Or if you want to look at it another way, they'll have the ability to dilute existing sharesholders by 150 times if the want to !!!

And if you haven't voted against special resolutions 3 & 4 of the EGM, then you'll have given away your right to participate in any placings etc. Which will let the directors issue shares at a discount of 20, 40, 50% or more to there "friends" etc & you will have no rights to get offered shares at the same price as them, but of course the directors can still participate in such placings if they wish to.

Oh & if this consolidation was about potentially listing on another exchange as well then that would normally be said in the document (best governance practices) but its not, so that's just another excuse some people are putting forward to deflect away from the BOD.

LOTM

Archangeleyes,

The traitors (BOD) have you wrapped around their little pinkie.

The cores from hole 1 were at the assay lab on 1st or 2nd Sept - confirmed via

https://pbs.twimg.com/media/Gzz6C4GXIAAhUD_?format=jpg&name=large

They were supposed to be "expedited" again confusion reins over whether that was just to the lab or the whole process (classic traitor behaviour).

Why it supposedly took up to another 22 days to have them cut is anyones guess - another classic traitor mystery that's still to be solved.

Unless of course it was hold up poor hole 1 assays in the hope that t those from hole 2 would even out the results better.

How do you know the company doesn't have the complete assay results for hole 1 ?

You don't

And before you say or think anything else the Chairman has past WSBN history of deliberately not releasing assay results when they were received - choosing to hold them back to release them in a batch instead (because the hole 3 pictures from https://wishbonegold.com/wp-content/uploads/2022/07/WSBN-RNS-220801-Encouraging-Visual-Results-at-Red-Setter-Project-9nga.pdf back then failed to live up to expectations).

Its high time you started to question everything the company puts out, RNS tweets the lot & whether it makes sense with what's gone before or not ?

And since your so keen on that 25th Sept RNS, I'm surprised (well I'm not because your too trusting a faithful) you didn't notice or pick-up on the fact, "Breccia Pipe" no longer got mentioned !!!

LOTM

Archangeleyes,

You should get banished at the round table for posting such a lie.

The share price closed at 1.23p on Thursday evening & would most likely have gone higher on Friday without that RNS.

So how on earth can "The sp is 🔵 overall since consolidation news" be true when the share price in reality is still down roughly 20% since 4:40pm on Thursday ?

Another faithful trying to convince themselves of something that simply isn't true.

LOTM

This BB is currently like watching the Celebrity Traitors.

With all the faithful trying to convince themselves that this EGM is going to be good for them when its clearly not.

Every time this traitorous BOD do something they shouldn't, the faithful somehow try to find ways of making it look ok when its not.

Anyway, just called Barclays & instructed them to vote against resolutions 3A & 3B at the AGM & to vote against all resolutions at the EGM.

Oh & the BOD couldn't make it any harder for shareholders to get to question them could they ? meeting in Gibraltar, AGM scheduled to last all of 15 mins before the EGM is due to start !

Obviously no AGM presentation is going to happen & then hoping to avoid any questions with that timeline then they'll be telling everyone that they only booked the venue for 30 mins or such like to put of as many people as possible from wanting to attend in person.

LOTM

@Chiefs was the one who first mentioned the topic & posted this

"A smaller exploration company, Wishbone Gold Plc, also gets a mention after its shares more than doubled last week. The rise followed news from its Red Setter project in Western Australia, where drilling between 230 m and 470 m revealed strong mineralisation in a Havieron-style gold system. The story helped to underline the renewed excitement in junior explorers."

@news then posted

"In the Mail of Sunday of today, it mentions WSBN's Red Setter in which one will notice that that it refers to the rise of some 28%% in very recent days. Interestingly, 230-470m "revealed strong mineralisation" [470-230m = 2 4 0m] - related to HOLE 2."

So no-one has posted the actual full story yet.

I'd also suggest it is meant to be in reference to hole 3 rather than hole 2, given the depth's they are talking about & hole 3 being finished last week.

LOTM