Member Info for LOTM-13

Copperhands,

The RNS of 25th Sept - dropped the term " Breccia Pipe" it hasn't been mentioned since, I presume that's because they changed there view on it.

"The first hole terminated at a depth of 777m still in strong brecciation."

Was in that same RNS yet they have chosen thus far not to go back to 25RSDD001 to deepen it further instead choosing to waste money having the DD rig drill a surface collar 4 days ahead of the RC rigs arrival instead !

LOTM

I wonder how many of those posting here have actually ever bothered to attend in person (not virtually) one PLC's AGM yet alone multiple company's ones ?

I'm guessing the number is pretty low indeed.

An AGM is when you get to question the directors, the auditors, the NOMAD, the lawyers, look at the directors contract of employment, there allotted hours (weekly or monthly) for that salary.

Hopefully anyone attending the AGM stands-up & ask's the hard questions & makes sure that everything said is minuted for future reference, like asking the Directors, when they received the assay results ? have the date minuted, if they say they haven't got them - then ask have the received some of the assay results & if so the date / dates they got them ?

If they say no to that, ask if they had instructed the Lab not to "officially" give them the assay results back until all the cores were assayed ?

Have they had any "unofficial" correspondence from the Lab about the likely outcome of the Assays ?

Why did they "expedite" the cores of 25RSDD001 in an RNS ?

If that was simply to the Lab to save a couple of days time compared to X weeks of waiting on getting assay results then that was a highly misleading RNS ? At which point I would be asking the NOMAD why they allowed such a misleading RNS to be published.

Why has the company given no timeline for the Assay's ? their consultant DL knew the near enough exact timeline for the assay results for a company he is a director of for the same Perth Lab, so if he's that well informed, then why are WSBN not?

Confirm with the NOMAD that given the comments given by the WSBN directors in numerous RNS's about Red Setter Dome that any assay news would be considered "price sensitive" & therefore delaying the release of those assay results meant the instant creation of a false market & that each passing hour increased the risk of someone getting hold of that information that shouldn't have it.

Where is the drilling plan ?

Why did hole 25RSDD002 end up 200M away from hole 25RSDD001 when it was meant to be 50-75M away ? why was there not full disclosure for the reasons behind it ?

Why have you not put out a Presentation on Red Setter ?

Is the dolomite mineralisation vertical or horizontal in nature ?

Why did you waste money drilling 25RSDD003 from surface with the DD rig & not wait a few days on the RC rig drilling the collar ?

Why did you not extend hole 3A from 2023 as per the original plan given your assertion that the ExpertGeo data is very accurate & that was part of the plan in June ?

LOTM

Mila are in Queensland, so will use completely different set of labs = completely different set of timescales.

They didn't start this DD drilling campaign until 17th Sept, that's over 2 weeks after WSBN 25RSDD001 cores were at the assay lab in Perth.

Mila managed to do 1451M of DD drilling in under 1 Month, WSBN can't even do 1000M a month !!! they are barely doing 900M a month.

Oh & its 15 days & counting since the last update on X or Linkedin regarding the drilling rigs & there locations or drilling plans etc & it must be close to 1 month if not more since we last actually saw a DD core from Red Setter Dome !!!

But keep pushing the BOD's narrative for them & kidding yourselves that they don't have assay results, when they most certainly do.

A lot of the usual old poster's seem to have gone missing like Casper786 etc

Whether I will still have 2M shares by 4:30pm today depends on the outcome of todays votes, if consolidation going ahead then I will be out by 4:30pm for sure.

A pivotal day for WSBN

LOTM

Well all proxy voting ceases at 11:15am (CET) today 26th November, so is already effectively over as no-one with a nominee account will be able to get there vote in on time.

So really the only additional votes that can be cast or possible change's in voter intention, lies with those attending the meetings on Friday in Person.

I guess all of those who sent in emails a couple of weeks ago never even got acknowledgement of receipt of the email let alone an actual reply to it ? no doubt they just disappeared into the vast WSBN black hole as if they never existed in the first place.

Later today, I'm sure the registrar, will have informed WSBN of the various proxy counts as they stand for the AGM & EGM resolutions. That may or may not trigger WSBN to issue an RNS, depending on the vote counts.

For example if the directors have enough votes to be re-elected (personally - hopefully not) but not enough votes to pass some or all of the EGM votes, then they may decide to withdraw those resolutions ahead of the meeting, so there not seen to be defeated in those resolutions, or if they are losing them all they may even decide to postpone the EGM itself.

However if the directors are losing there re-election bids as well, then they might just proceed with everything as is even if they are losing the eGM votes as they will have nothing else to lose anyway !!

-------

If anyone is going to the AGM itself, can you please ask to see all of the director contracts of employment & note the length of hours each is meant to work each week or month, there notice periods & entitlements etc, as its the only time your actually able to view such information, you won't find it on the company website etc. You might even be able to see the terms of DL consultancy contract as well.

If they refuse to provide you with the documents to view (they should be viewable at least 30 mins ahead of the meeting, then make the NOMAD & legal council aware of this failure & have it recorded in the minutes of the AGM & you may actually be entitled to have the AGM adjourned until they comply.

Personally I would have liked to have attended the meetings but sadly that isn't possible due to the number of hospital visits I have including yet another one this morning & more check-up tomorrow ahead of getting treatment.

LOTM

Professor1,

Deferred shares with a nominal value of 9.9p are not going to be issued after the share consolidation takes effect.

So when the next placing or rights issue comes along they will simply issue new WSBN shares of 0.1p nominal value to the buyers, they will not also issue them with a deferred share of 9.9p of nominal value as well.

If you think about it logically if the share price is rising there is no need whatsoever to do the share consolidation.

The need to do it is only there if you think the share price is going to fall, ie if bad news is on the way & they haven't discovered anything that looks like a Tier 1 deposit.

If you don't do the consolidation & the share price falls to 0.2p (heaven forbid) then they would only be able to raise close to £10M over the next 5 years without seeking shareholder approve or if they had to issue them at par just under £5M.

Whereas with the consolidation, if the new share price fell to 1p (which is the same as 0.1p now) they would still be able to go & raise up to £50M at that price without having to seek shareholder approval again.

No TrueRed you are wrong it is for any share issue by WSBN in the next 5 years.

ManxKippers, the chairman, owns 84,635,966 (including close family etc) the other 20M is in a company he is chairman of. So yes he has skin in the game along with Ed Mead, The Chairman also gets a salary of £200,000 plus add on a year who know what Ed Mead receives or our consultant DL.

LOTM

@TrueRed

I beg to differ as does the resolutions, see 2 & 3 below from the said document.

"2. THAT the authority for the Directors to (a) offer or allot, (b) grant rights to subscribe for or to convert any

security into, or (c) otherwise deal in, or dispose of, any shares in the Company (or any options, warrants,

conversion rights and all other rights to acquire or subscribe for shares) to any person, at any time and subject

to any terms and conditions as the directors think proper, as prescribed by Article 28 of the Articles, be and is

hereby extended pursuant to Article 29(c) so that this authority may be exercised for a period of 5 years from

the date of the passing of this resolution.

SPECIAL RESOLUTIONS

3. THAT, subject to the passing of Resolution 2, the Directors be generally empowered to allot shares pursuant to

the authority conferred by Resolution 2, as if the provisions of Article 30 of the Articles (relating to pre-emption

rights) and any other pre-emption rights whether arising under the Companies Act 2014 of Gibraltar, the Articles

or otherwise did not apply to any such allotment provided that this power shall expire on the date falling on the

date falling on the fifth anniversary of the date of the passing of this resolution."

Resolution 3 is you giving up your pre-emptive rights for the next 5 years in a one-er, if you vote in favour of it!

LOTM

@TrueRed, perhaps you need to actually read the EGM document before posting such rubbish.

Since you clearly didn't even bother to go & look for the document here's the direct link for you

https://wishbonegold.com/wp-content/uploads/2025/11/CIRC-WSBN-EGM-Circular-and-Notice-20251107-my3j.pdf

"4. Proposed Extension of Allotment Authorities and Dis-Application of Pre-Emption Rights

The Articles currently grant the Directors authority to issue, allot, grant rights over or otherwise deal in the

Company’s shares as they see fit (Allotment Authority). This authority is subject to (a) a maximum nominal

amount of £8,000,000 of any class of share, (b) such authority not being renewed, waived or revoked by ordinary

resolution and (c) being used for a period of five years from the 10 January 2020 unless extended by ordinary

resolution.

The articles also contain pre-emption rights for existing shareholders which require all shares which are not

Relevant Securities (as defined in the Articles) to first be offered to the holders of the shares on a pari passu

basis and on the same terms and at the same price.

The Allotment Authority has now expired under point (c) above and therefore the Company is proposing that

such authority is extended by ordinary resolution, being resolution numbered 2, to the date falling 5 years from

the date of passing of the resolution. A special resolution is also being tabled, being resolution 3, which disapplies the pre-emption rights contained in the Articles in respect of all shares issued pursuant to the authority

granted pursuant to resolution 2. This extension merely continues the existing authorities and is not a change in

the capital structure."

LOTM

I guess most people are not seeing the magical trick here with the consolidation !

They currently have the right to issue £8M of nominal value in shares, in WSBN's case those have a nominal value of 0.1p meaning there could be a maximum of 8 Billion shares in issue if nothing happened before they needed to get an extension to that amount vote on by shareholders.

So they have £4,977,413.54 of nominal value at there disposal that can still be issued.

Here's the magic bit, by doing the 100 for 1 consolidation & then creating new shares which also have a nominal value of 0.1p & issuing them to shareholders in place of the existing ones, there will be 30,225,865 shares in issue, but the directors will still have the ability to issue another £4,977,413.54 of nominal value (because the created deferred shares have 9.9p of nominal value) so just like right now they can issue 4.977 Billion more shares. Right now they can only dilute us to a maximum of roughly 1.6 times before they need shareholder approval again, but this way they can dilute us 166 times before needing our approval again !

The new ones will be priced at close to 100 times the current share price as well.

The resolutions also give them the authority for the next 5 years (without another vote) to issue shares without the need to offer existing shareholders the same terms, ie shareholders are giving up there right be part of any placing. So if the directors do a placing at a 25% 40% 50% or another discount % to there friends, contacts or themselves etc, then we don't have the right to participate on a pro rata basis on any such placing for the next 5 years !!!

I hope that explains it for you all.

LOTM

Boromad,

The EGM will ONLY deal with the 4 items on the agenda - in the order listed (& may not even get as far as the list item depending on the previous outcomes) - end of story.

Details around any of the other things you mentioned would occur at the AGM provided the company wants to disclose them unless your there in person to ask specific questions & if your not happy with the answers given to keep pressing them on that issue with additional questions etc.

LOTM

Casper786,

Glad to hear that you voted against the EGM resolutions.

Yes HEMO did go on a run on good news £1.40 to £18 intra day in short order.

However £7.50 pre consolidation RNS to £1.40 (80% loss) & 3.5M shares on consolidation, is now over 5.9M shares with still more £1.80 warrants to be converted going forward, means massive dilution has occurred & most ordinary shareholders weren't included in most of the multi share placings, so many will have sold out & some will have averaged down as the price dropped dramatically & then it rose sharply on good news to that peak & has fallen back to just above the price when the placing was first announced, which isn't really a good outcome given the positive outcome of the drug trials to date & now any up lift in market cap has to effectively be spread over 6M (after all warrant conversions) compared to just 3.5M shares before (that's around 71% dilution) & just look at the horrible trading spread it has of nearly £1 at times !

But if you traded at the right time & made the right decisions there was a lt of money could have been made, but plenty will have lost a lot of cash too on top of the loss they had suffered pre-consolidation announcement over the past few years.

There are so many WSBN things that don't look right to me, the move away from the dome before they even extended 3A yet the Expect Geo data is meant to be spot on, the term "Breccia Pipe" no longer used in RNS, how 25RSDD002 ended up 200M away at the 550M length instead of 50-75M with zero explanation to name some of the more major ones.

LOTM

Casper786,

HEMO is a real part of the reason you don't want a share consolidation, you clearly haven't looked at it or remembered it in detail.

In current terms for anyone not familiar with the story, 400 for 1 consolidation took place, just before the consolidation was announced the share price was £7.50 (1.75p a share) the consolidation occurred around the £4.00 mark ie at 1p a share.

The share price went south from there, getting as low as £1.40 with quite a few placings along the way lots around £1.80 with warrants attached !! (directors having said they were doing the consolidation & had no intention of issuing shares at under 1p each or £4.00)

Existing shareholders have suffered massive dilution to date with more to come when more of the warrants are exercised, vast likely limiting the upside.

A prime example of what you don't want to happen.

If translated to WSBN the 30M shares in issue would now be close to 60M with more dilution still to come through & the new shares would be trading around the £1.50 mark ie barely above where they were before the word consolidation was 1st mentioned having got into the £0.40 - £0.50 during the journey there.

So no thanks Casper786, consolidation = disaster area.

LOTM

TrueRed,

The 2022 holes were not that shallow some went down to 500M+

As per https://wishbonegold.com/wp-content/uploads/2022/12/WSBN-RNS-221213-Confirmation-of-Hydrothermal-Gold-and-Copper-System-at-Red-Setter-2lt0.pdf

It does not take 3 years for the geologists to have a very good if not full certainty as to the orientation of the mineralisation that was found back then. Yet in all time since they haven't actually produced a diagram of it to show/display it to there shareholders.

As for the new holes - that's another topic entirely.

LOTM

Since the last RNS update on Red Setter, wanted to go back to 2022, perhaps someone can tell me if the mineralised veins they are chasing from back then are near vertical in nature or are they horizontal ?

I mean you'd think after 3 years the company would have managed to put out a diagram of some sort to show there expected orientation ?

LOTM

Well I clearly didn't missing anything new when at the hospital yesterday, nor early this morning either.

The latest P&D crew seem to have moved on, which will disappoint the BOD as far too many got distracted by the partial recovery in the share price instead of talking about the BOD's continued failures.

Lets see no new posts on X or Linkedin in 15 days from WSBN with regard to drilling rigs or core pictures. That's 450M roughly of new DD cores & counting & nothing worth showing a picture off !

I haven't seen anyone post links to some of the other X/Linkedin sources like Upsiderebal etc either so presumably they haven't found anything interesting to report either.

If you haven't voted then you've no right to complain if the outcome next week isn't the one you were wanting.

The BOD want apathy so that shareholders can't be bothered to vote as they the BOD have a head start given their incentive to vote for the gravy train to continue £200K of annual salary ! for doing what exactly?

LOTM

Cando66,

Sorry I just can't agree with your last post.

Things are delayed in regard to the assay results & if anyone is actually going to the AGM in person then I strongly suggest they demand answers around "expedited" & to ask specifically if the BOD have received any assay results to date & on which days they received them.

I intend to post a list of unanswered questions for anyone attending the meeting to ask.

As for the cash raised being well spent, that simply hasn't happened, they absolutely wasted cash drilling a hole from surface with a DD rig when a RC rig was arriving on site just 5 days later & could have done the surface collar much cheaper - the DD rig could have extended hole 25RSDD001 in the meantime or followed the original plan & deepened 3A from 2023.

They are not a good BOD they are useless end of story.

If the share price went up 300% tomorrow, great, super, fabulous result for shareholders, but it doesn't change the fact the BOD are useless, they need replaced by industry experts who keep there shareholders informed.

By the way tomorrow it is 14 days since we were last notified that the DD rig had moved ! do you really think it has advanced 420M in that time in hole 4 ?

I don't, it will have moved onto another unknown location, targeting goodness knowns what, because the BOD are just making fools of their shareholders.

I'm sure if they finally find another piece of core worth looking at a picture will be issued post haste.

LOTM

Professor1, just to quote your 2 posts

"What could be a massive bombshell if, at the same time as the announcement of the share consolidation, there was also an announcement of a strategic investment (even say 2%) from a large miner even before the drill results are announced. Could a large miner be conducting a secret due diligence on our project and which is why we have this delay? This would negate the negative market perception and validate " analogous to Telfer". This would then attract other large institutional investors"

"It may sound like a load of drivel to you but some of us positive thinkers do believe its perfectly plausible.

The initial investment, quite a way ahead from any possible JV/ takeover by the initial investment provider would leave WSBN with sufficient funding to carry out the further exploration and proving up and for that matter other operational expenses for the next 3 to 4 years.

THE ABOVE WOULD AVOID THE NEED FOR FUTURE FUNDRAISE AND DILUTING US PIs UNTIL SUCH TIME AS THE JV IS FORMED. AND,

IF THE ABOVE HAPPENS, THEN I DO NOT SEE, AFTER THE SHARE CONSOLIDATION, EVER A NEED FOR WSBN TO GO CAP IN HAND TO RAISE MONEY"

And you got 11 & 6 recommendations for those posts !!!

Now lets see ......

They are holding back the assay results from shareholders but are secretly sharing them with a 3rd party (a major mining player - lets say Anglogold Ashanti) who then say oh they look great we'll invest and take a 2% stake (that brings in all of £600,000 at a £30M market cap by the way).

That cash plus the cash already raised & being spent is going to last 3 to 4 years !!!

-----

For goodness sake there going to be needing £4M plus a year to prove up any find that looks like a Tier 1 prospect.

As I said, drivel, not in the least plausible.

LOTM

What a load of drivel.

A P&D crew have had some fun today & made some dough, enticing some to buy on the back of nothing & are now holding the shares instead.

Lots of new posters ( or ones not seen for days) turned up posting nearly all at once ! knowing many are on the sidelines watching this stock.......

LOTM

Totally misleading again ManxKippers ............

Richard Poulden 104,722,547 4.04%

Richard Poulden is deemed to be interested in 84,635,966 Ordinary Shares held in his own name and in trusts for the benefit of his family. He is also deemed to be interested in 20,086,581 shares held by the Black Swan Group of which he is Chairman.

https://www.lse.co.uk/rns/WSBN/issue-of-equity-tvr-and-pdmr-etanc3iiqo6414y.html

LOTM

ManxKippers, to quote you ...

"I think it is worth raising the point that POULDEN OWNS 584,993,089 shares. YES - THAT IS A MASSIVE HOLDING."

Total nonsense & to make matters worse 8 others have given it a thumbs up already & no-one has called you out for it.............

Clearly no-one bothers to do any fact checking.

https://www.lse.co.uk/rns/WSBN/issue-of-equity-tvr-and-pdmr-etanc3iiqo6414y.html

Following Admission, the Director/PDMR shareholdings will be as follows:

Directors/PDMR

Enlarged shareholding

Interest in enlarged issued share capital

Richard Poulden 104,722,547 4.04%

Jack Sun 76,923,077 2.96%

Edward Mead 76,923,077 2.96%

Richard Poulden is deemed to be interested in 84,635,966 Ordinary Shares held in his own name and in trusts for the benefit of his family. He is also deemed to be interested in 20,086,581 shares held by the Black Swan Group of which he is Chairman.

I'd also point you to the correct page of the company website if the site was actually up & working so you could triple check how wrong you are.

https://wishbonegold.com/investors/shareholder-analysis/

LOTM

Please do not add your name or shareholding to the list unless you have actually voted.

Lets see just how strong or otherwise the actual voting list of Dissident Shareholders is, please copy & paste the list into your reply & add your name & shareholding to it.

Mooching - shareholding 3M voted against

LOTM-13 - shareholding 2M (with Barclays) voted against resolutions 3A & 3B for the AGM & voted against ALL EGM resolutions.

Total votes against = 5M